Slide 1: IAMGOLD Reports First Quarter 2026 Results
IAMGOLD REPORTS FIRST QUARTER 2026 RESULTS All monetary amounts are expressed in U.S. dollars, unless otherwise indicated. Toronto, Ontario, May 5, 2026 – IAMGOLD Corporation (NYSE:IAG, TSX:IMG) (“IAMGOLD” or the “Company”) today reported its financial and operating results for the first quarter end
Slide 2: First quarter highlights
• Net earnings and adjusted net earnings attributable to equity holders1 was $379.7 million and $391.1 million for the first quarter, respectively. • Net earnings and adjusted net earnings per share attributable to equity holders1 of $0.65 and $0.67 for the first quarter, respectively. • Net cash fr
Slide 3: Quarterly Review
QUARTERLY REVIEW For more details and the Company's overall outlook for 2026, see “Outlook”, and for individual mines performance, see “Operations”. The following table summarizes certain operating and financial results for the three months ended March 31, 2026 (Q1 2026) and March 31, 2025 (Q1 2025)
Slide 4: Financial Results
Q1 2026 Q1 2025 Financial Results ($ millions) Revenues $ 1,030.1 $ 477.1 Gross profit $ 570.7 $ 141.2 EBITDA1 $ 657.0 $ 195.2 Adjusted EBITDA1 $ 666.3 $ 204.5 Net earnings attributable to equity holders $ 379.7 $ 39.7 Adjusted net earnings attributable to equity holders 1 $ 391.1 $ 55.2 Net earning
Slide 5: Outlook
OUTLOOK Production (000 oz) Full Year Actual Q1 2026 Guidance 2026 Côté Gold – (70%) 52.3 270 – 310 Westwood – (100%) 36.2 110 – 130 Essakane – (85%) 95.1 340 – 380 Total attributable production (000s oz) 183.6 720 – 820 Total attributable production for IAMGOLD in 2026 is expected to be in the rang
Slide 6: 2026 guidance assumptions and capital expenditures
The full year guidance for 2026 is based on the following assumptions (before the impact of hedging): an average realized gold price of $4,000 per ounce, USD/CAD exchange rate of 1.35, EUR/USD exchange rate of 1.18, average Brent oil price of $65 per barrel and West Texas Intermediate (WTI) price of
Slide 7: Environmental, Social and Governance
ENVIRONMENTAL, SOCIAL AND GOVERNANCE The Company released its 2025 Sustainability Report on April 27, 2026. The report draws upon various ESG frameworks and standards and internationally recognized methodologies such as the Global Reporting Initiative and Sustainability Accounting Standards Board. H
Slide 8: Operations: Côté Gold Mine
OPERATIONS Côté Gold Mine (IAMGOLD interest – 70%) | Ontario, Canada Q1 2026 Q1 2025 Key Operating Statistics (100% basis, unless otherwise stated) Ore mined (000s t) 3,553 3,115 Grade mined (g/t) 0.99 0.78 Operating waste mined (000s t) 4,947 5,667 Capital waste mined (000s t) 826 1,973 Total mater
Slide 9: Côté Gold operations
Operations Côté Gold attributable gold production in the first quarter 2026 was 52,300 ounces (74,700 ounces | 100%), a 2% increase from the prior year period. Mining activity totaled 9.3 million tonnes in the first quarter 2026, lower by 1.4 million tonnes or 13% compared to the same prior year per
Slide 10: Côté Gold unit costs
contractor aggregate crusher that increased rehandling and utilization of haul trucks. The impact is expected to reduce as the contractor aggregate is phased out at the end of the first half of 2026. • Milling costs were $24.62 per tonne milled during the three months ended March 31, 2026. Unit cost
Slide 11: Côté Gold 2026 outlook
processing plant are connected to the grid. The cost estimates for 2026 used an oil price assumption of $65 per barrel for WTI. It is estimated that a $10 increase in the price of oil per barrel would approximately equate to a $7 per ounce increase in costs, exclusive of broader indirect inflationar
Slide 12: Westwood Complex
Westwood Complex (IAMGOLD interest – 100%) | Quebec, Canada Q1 2026 Q1 2025 Key Operating Statistics Underground lateral development (metres) 1,153 1,147 Ore mined (000s t) – underground 106 89 Ore mined (000s t) – open pit 60 192 Ore mined (000s t) – total 166 281 Grade mined (g/t) – underground 9.
Slide 13: Westwood operations
Operations Westwood gold production in the first quarter 2026 was 36,200 ounces, higher by 12,300 ounces or 51% compared with the same prior year period. Underground mining activity in the first quarter 2026 of 106,000 tonnes of ore was higher by 17,000 tonnes or 19% than the same prior year period,
Slide 14: Westwood 2026 Outlook
2026 Outlook Westwood production is expected to be in the range of 110,000 to 130,000 ounces in 2026. Underground mining is planned for between 900 to 1,000 tonnes per day and the Grand Duc open pit life was extended into 2027 based on the improved economics in the current gold price environment. Mi
Slide 15: Essakane Mine
Essakane Mine (IAMGOLD interest – 85% for Q1 2026, 90% for Q1 2025) | Burkina Faso Q1 2026 Q1 2025 Key Operating Statistics1 Ore mined (000s t) 2,231 2,447 Grade mined (g/t) 1.09 1.21 Operating waste mined (000s t) 1,985 5,667 Capital waste mined (000s t) 7,726 2,747 Total material mined (000s t) 11
Slide 16: Essakane operations
Operations Essakane attributable gold production in the first quarter 2026 was 95,100 ounces (111,900 ounces | 100%), an increase of 9,100 ounces of 11% from the prior year period due to increased head grade through the mill. Mining in the first quarter 2026 totaled 11.9 million tonnes, higher by 1.
Slide 17: Essakane costs and outlook
Royalties during the three months ended March 31, 2026, were $70.9 million or $597 per ounce (35% of cash costs), an increase of $364 per ounce compared to the prior year period. Cash costs, excluding royalties, of $128.9 million were higher by $2.5 million or 2%, primarily due to higher production
Slide 18: Projects: Nelligan Mining Complex
PROJECTS Nelligan Mining Complex | Chibougamau District, Quebec, Canada On December 19, 2025, and December 22, 2025, the Company acquired all of the issued and outstanding shares of each of Northern Superior and Orbec, respectively, by way of court-approved plan of arrangement for consideration of a
Slide 19: Nelligan and Philibert exploration
Mineral Resources averaging 14.8 g/t Au for 499,000 ounces of gold. A slight increase in Indicated ounces and Inferred ounces is noted. A diamond drilling program of 15,000 metres is planned in 2026 to increase confidence in the existing resource and test at depth the Megane zone following positive
Slide 20: Financial Review: Liquidity and Capital Resources
FINANCIAL REVIEW Liquidity and Capital Resources The Company’s capital allocation strategy is to maximize value through the allocation of internally generated cashflows to fund growth opportunities, return capital to its shareholders, and strengthen its balance sheet. As at March 31, 2026, the Compa
Slide 21: Essakane dividend and shareholder account
Shareholder ($ millions) Dividend account 2025 dividend declared $ 855.0 Government of Burkina Faso 15% share paid in June 2025 (128.3) Withholding tax paid in July 2025 (46.0) IAMGOLD's portion of 2025 dividend declared 680.7 Dividend paid to IAMGOLD (98.0) Balance converted to Shareholder account
Slide 22: Long-term debt and Credit Facility
March 31 December 31 ($ millions)1 2026 2025 Credit Facility $ 100.0 $ 200.0 5.75% senior notes ($450 million principal outstanding) 448.9 448.8 Equipment loans 0.3 1.0 $ 549.2 $ 649.8 1. Long-term debt does not include leases in place of $101.8 million as at March 31, 2026 (December 31, 2025 - $112
Slide 23: Equipment loan, prepay arrangements and bonds
Equipment loan At March 31, 2026, the Company had an equipment loan with a carrying value of $0.3 million secured by certain mobile equipment, with an interest rate of 5.3% which matures in 2026. The equipment loan is carried at amortized cost on the consolidated balance sheet. Gold prepay arrangeme
Slide 24: Cash flow: operating, investing, financing activities
Operating Activities In the first quarter 2026, operating activities generated cash flow of $569.9 million, higher by $495.6 million compared to the same prior year period. Cash flow from operations increased significantly due to higher operating revenues driven by an increased realized gold price a
Slide 25: IAMGOLD Contact Information
IAMGOLD Contact Information Graeme Jennings, Vice President, Business Development & Investor Relations Tel: 416 360 4743 | Mobile: 416 388 6883 info@iamgold.com End Notes (excluding tables) This is a non-GAAP financial measure. See "Non-GAAP Financial Measures" section below. Further information on
Slide 26: Non-GAAP measures: per tonne costs
Milling cost per tonne milled and general and administrative cost per tonne milled are defined as: • Mill and general and administrative costs (as included in production costs), excluding selling costs and non-production costs as these costs are not directly related to tonnes milled, divided by • th
Slide 27: Westwood unit cost reconciliation
Westwood ($ millions, except where noted) Q1 2026 Q1 2025 Production cost $ 47.5 $ 41.0 Adjust for: Increase/decrease in stockpiles (0.1) 1.2 Adj. operating cost $ 47.4 $ 42.2 Consisting of: Underground mining cost [A] 30.5 24.4 Open pit net mining cost [B] 2.6 4.9 Milling cost [C] 8.3 6.6 G&A cost
Slide 28: Cash costs and AISC definitions
Cash Costs Excluding Royalties, Cash Costs, Cash Costs per Ounce Sold, AISC and AISC per Ounce Sold The Company reports cash costs excluding royalties, cash costs excluding royalties per ounce sold, cash costs, cash costs per ounce sold, AISC and AISC per ounce sold in order to provide investors wit
Slide 29: Cost reconciliation, three months ended March 31, 2025
Three months ended March 31, 2025 ($ millions, except where noted) Côté Gold Westwood Essakane Corporate Total Cost of sales1 $ 99.2 $ 54.5 $ 181.7 $ 0.5 $ 335.9 Depreciation expense1 (34.0) (12.4) (32.8) (0.5) (79.7) Cost of sales, excluding depreciation expense $ 65.2 $ 42.1 $ 148.9 $ — $ 256.2 Ro
Slide 30: Capital expenditures, EBITDA and Adjusted EBITDA
($ millions, except where noted) Sustaining Expansion Q1 2026 Sustaining Expansion Q1 2025 Capital expenditures for property, plant and equipment $ 88.6 $ 12.8 $ 101.4 $ 61.7 $ 5.3 $ 67.0 Working capital adjustments 1.7 1.6 3.3 (0.4) (1.9) (2.3) Capital expenditures per statement of cash flows $ 90.
Slide 31: Adjusted Net Earnings Attributable to Equity Holders
Adjusted Net Earnings (Loss) Attributable to Equity Holders Adjusted net earnings (loss) attributable to equity holders represents net earnings (loss) attributable to equity holders excluding certain impacts, net of taxes, such as changes in estimates of asset retirement obligations at closed sites,
Slide 32: Mine-site free cash flow reconciliation
Three months ended March 31, 2026 Corporate & ($ millions, except where noted) Côté Gold Westwood Essakane other Total Net cash from operating activities $ 144.1 $ 130.2 $ 355.0 $ (59.4) $ 569.9 Add: Operating cash flow used by non-mine site activities — — — 59.4 59.4 Cash flow from operating mine-s
Slide 33: Consolidated Balance Sheets
CONSOLIDATED BALANCE SHEETS (Unaudited ) March 31, December 31, (In millions of U.S. dollars) 2026 2025 Assets Current assets Cash and cash equivalents $ 550.2 $ 421.9 Receivables and other current assets 59.4 79.6 Inventories 355.9 377.0 Assets held for sale 25.2 25.2 990.7 903.7 Non-current assets
Slide 34: Consolidated Statements of Earnings
CONSOLIDATED STATEMENTS OF EARNINGS (Unaudited) Three months ended March 31, (In millions of U.S. dollars, except per share amounts) 2026 2025 Revenues $ 1,030.1 $ 477.1 Cost of sales (459.4) (335.9) Gross profit 570.7 141.2 General and administrative expenses (15.4) (16.4) Exploration expenses (7.8
Slide 35: Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) Three months ended March 31, (In millions of U.S. dollars) 2026 2025 Operating activities Net earnings $ 417.4 $ 46.5 Adjustments for: Depreciation expense 115.7 79.7 Deferred revenue recognized — (77.7) Income tax expense 116.4 39.2 Derivative loss
Slide 36: Qualified Person and Technical Information
QUALIFIED PERSON AND TECHNICAL INFORMATION The technical and scientific information relating to exploration activities disclosed in this document was prepared under the supervision of and verified and reviewed by Marie-France Bugnon, P.Geo., Vice President, Exploration, IAMGOLD. Ms. Bugnon is a “qua
Slide 37: Forward-looking statements
Company’s present and future business strategies; operations performance within expected ranges; anticipated future production and cash flows; local and global economic conditions and the environment in which the Company will operate in the future; the price of precious metals, other minerals and ke