Iamgold Corporation · TSX:IMG
Iamgold — Q4 2025 Earnings Presentation
24 slides from Iamgold's earnings presentation, Feb 18, 2026
Slide 1: Q4 & Full Year 2025 Results Conference Call
Q4 & FULL YEAR 2025 RESULTS CONFERENCE CALL February 18, 2026 1 TSX: IMG | NYSE: IAG | www.iamgold.com
Slide 2: Cautionary Statement
CAUTIONARY STATEMENT All information included or incorporated by reference in this news release, including any information as to the Company’s vision, strategy, future financial or operating performance and other statements that express management’s expectations or estimates of future performance or
Slide 3: Cautionary Statement
CAUTIONARY STATEMENT CAUTIONARY NOTE TO U .S . INVESTORS REGARDING DISCLOSURE OF MINERAL RESERVE AND MINERAL RESOURCE ESTIMATES Disclosure regarding the Company’s mineral properties, including with respect to mineral reserve and mineral resource estimates, included in this presentation, was prepared
Slide 4: Overview
OVERVIEW A LEADING, MODERN CANADIAN-FOCUSED MULTI-ASSET PRODUCER • Côté Gold: Canada’s newest large-scale open pit gold mine, a model for modern mining, with significant growth potential • Westwood: Quebec underground success story, generating positive cashflow with a revised technical approach to u
Slide 5: 2025 Operating Highlights
2025 OPERATING HIGHLIGHTS OPERATING RESULTS RESPONSIBILITY & ACCOUNTABILITY Q4 2025 Q4 2024 2025 2024 • TRIFR (total recordable injuries/200,000 hours) of 0.60 down y/y Côté Gold (attr. 1) koz 87.2 62.4 279.9 124.0 • Initiated work in 2025 on the development of site-specific regional Westwood koz 37
Slide 6: Q4 Financial Highlights
Q4 FINANCIAL HIGHLIGHTS h: $421.9 M s CASH FLOW & BALANCE SHEET Ca • Record mine-site free cash flow of $626.6 M in Q4 2025 $868.6M M • De-levering ongoing – net debt decreased by $468.8 B in 2025 4 5. 7 TOTAL LIQUIDITY BUYBACK PROGRAM Av $4 • NCIB in place for purchase of up to 10% of shares outsta
Slide 7: Financial Highlights
FINANCIAL HIGHLIGHTS FINANCIAL HIGHLIGHTS 2025 CASH FLOW RECONCILIATION (In $ millions, unless otherwise stated) Q4 2025 Q4 2024 2025 2024 Cash @ Dec 31 2024 $347.5 Revenues $1,088.1 $469.9 $2,852.8 $1,633.0 Gross profit $593.6 $130.9 $1,206.2 $549.9 Operating activities (before WC) +$1,546.9 EBITDA
Slide 8: Operations
OPERATIONS
Slide 9: Côté Gold (70% Interest)
(100% basis, unless otherwise stated) Q4 2025 Q4 2024 2025 2024 CÔTÉ GOLD (70% Interest ) Ore mined kt 4,514 3,637 14,640 10,849 Grade mined g/t 1.04 1.07 0.94 0.97 Q4 OVERVIEW Material mined – total kt 11,081 10,847 45,108 39,336 • Production (70%): 87,200 oz | 279,900 oz in 2025 Ore milled kt 2,87
Slide 10: Côté Gold (70% Interest) Outlook
CÔTÉ GOLD (70% Interest ) OUTLOOK COSTS Attr . 2025 2026 Guidance • Cash costs1 (excluding royalties) of $949/oz, cash costs1 of $1,265/oz & (100%) 399,800 390,000 – 440,000 AISC1 of $1,688/oz in Q4 Production oz (70%) 279,900 270,000 – 310,000 • Cost profile improvement expected following installat
Slide 11: Côté Gold Expansion
CÔTÉ GOLD EXPANSION PLANT EXPANSION MINERAL RESERVE & RESOURCE ESTIMATE • Pursuing plan to expand Côté plant from 36,000 tpd to 50,000+ tpd Tonnes Grade Ounces (as of Dec 31, 2025) (000’s) (g/t) (000’s) • Current ore mining design rate of ~ 50,000 tpd based on 2:1 strip ratio Proven & Probable: Côté
Slide 12: Westwood Complex
WESTWOOD COMPLEX (100% basis, unless otherwise stated) Q4 2025 Q4 2024 2025 2024 Ore mined – underground kt 105 98 382 354 Ore mined – other sources kt 174 283 996 662 Q4 OVERVIEW Ore milled kt 299 267 1,154 1,107 • Production (attr .) of 37,900 oz | 113,900 oz in 2025 Head grade – underground g/t 9
Slide 13: Westwood Complex Costs and Outlook
WESTWOOD COMPLEX COSTS OUTLOOK • Cash costs1 of $1,288/oz & AISC1 of $1,719/oz in Q4 2025 2026 Guidance • Underground mining costs were $265/t mined, the lowest level Production oz 113,900 110,000 – 130,000 for the year due to the higher volumes mined Cash costs1 $/oz $1,530 $1,500 – $1,650 • Increa
Slide 14: Essakane
(100% basis, unless otherwise stated) Q4 2025 Q4 2024 2025 2024 ESSAKANE (90% interest prior to Q2 2025; 85% thereafter) Ore mined Kt 4,123 2,170 11,910 9,714 Material mined – total kt 9,392 12,374 39,648 46,924 Q4 OVERVIEW Strip ratio w:o 1.3 4.7 2.3 3.8 • Production (attr .) of 117,300 oz | 372,10
Slide 15: Essakane Outlook
ESSAKANE (90% interest prior to Q2 2025; 85% thereafter) OUTLOOK COSTS • Cash costs1 (excl. royalties) of $1,011/oz, Cash costs1 of $1,471/oz & 2025 2026 Guidance AISC1 of $1,674/oz in Q4 Production (attr .) oz 372,100 340,000 – 380,000 • Improvement in per ounce costs in Q4 on higher sale volumes C
Slide 16: Exploration
EXPLORATION
Slide 17: Nelligan Mining Complex
NELLIGAN MINING COMPLEX CREATING THE NEXT GREAT CANADIAN MINING CAMP • IAG completed acquisitions of Northern Superior and Orbec in Croteau Est 100% SUP, Au December 20251 - exploration • The Nelligan Mining Complex: • IAG: Nelligan, Monster Lake • Total Resources: 3.8 Moz Ind. + 5.1 Moz Inf. IAMGOL
Slide 18: IAMGOLD | Ese.
IAMGOLD | Ese.
Slide 19: Gold Mineral Reserves – 100% Basis
1,2,3 GOLD MINERAL RESERVES – 100% BASIS As of December 31, 2025 PROVEN PROBABLE TOTAL RESERVES Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces DEPOSIT Type* Location Ownership (000’s) (g/t) (000’s) (000’s) (g/t) (000’s) (000’s) (g/t) (000’s) Côté Gold3 OP Canada 70% 116,055 1.05 3,902 1
Slide 20: Gold Mineral Resources – 100% Basis
1,2,3 GOLD MINERAL RESOURCES – 100% BASIS As of December 31, 2025 MEASURED INDICATED MEASURED + INDICATED INFERRED Location Ownership Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces DEPOSIT Type* (000’s) (g/t) (000’s) (000’s) (g/t) (000’s) (000’s) (g/t) (000’s) (000’s
Slide 21: Notes
NOTES 2 IAMGOLD | 32858 REDEFINED.
Slide 22: Notes
NOTES MINING. 22 AMGOLD | FESR Sine.
Slide 23: Notes
NOTES MINING. 23 IAMGOLD | FESR Sine.
Slide 24: Graeme Jennings, VP, Investor Relations
GRAEME JENNINGS, VP, INVESTOR RELATIONS 416 -388 -6833 TSX: IMG | NYSE: IAG | www.iamgold.com 24