Slide 1: Fourth Quarter and Full Year 2020 Results
Saramacca drone usage (pre-pandemic)– courtesy of Korhan Tasoren Fourth Quarter and Full Year 2020 Results February 18, 2021 – Conference Call TSX: IMG l NYSE: IAG
Slide 2: Management Participants
Management Participants • Gordon Stothart President & Chief Executive Officer • Carol Banducci Executive Vice President & Chief Financial Officer • Craig MacDougall Executive Vice President, Growth • Bruno Lemelin Senior Vice President, Operations & Projects • Tim Bradburn Senior Vice President, Gen
Slide 3: Cautionary Statement
Cautionary Statement All information included in this presentation whether in narrative or chart form, including any information as to the Company’s future financial or operating performance, and other statements that express management’s expectations or estimates of future performance, including st
Slide 4: Technical Information and Qualified Persons
Technical Information and Qualified Persons The Mineral Resource and Reserve Estimates contained in this presentation have been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). The Qualified Person (“QP”) responsible for the review an
Slide 5: Key Company Highlights: Q4 and FY 2020
Key Company Highlights: Q4 and FY 2020 Strong Leverage to Gold Price with 280% YOY Increase in Mine Site FCF Generating $223 Million Ended Year with Almost $1 Billion on Balance Sheet1 and Nearly $1.5 Billion in Total Liquidity2 Corporate Continued Proactive Management of COVID-19 with Rapid Respons
Slide 6: COVID-19 Update
COVID-19 Update Zero Harm® is our commitment to continually strive to reach the highest standards in human health & safety, minimize our environmental footprint, and work co-operatively with our host communities. • COVID-19 in Q4 2020: Health & Safety Protocols Embedded in our Operations and Project
Slide 7: Environmental, Social and Governance (ESG)
Environmental, Social and Governance (ESG) * Strong ESG In place since 2007 practices Highlights of Recent Activities: • At Essakane hosted annual H&S, and Environment Days event under the chairmanship of the Zero Minister of Energy and the Minister of Environment, Green Economy and Climate Change H
Slide 8: 2021 Production and Cost Guidance
2021 Production and Cost Guidance (000s oz) 2021 GUIDANCE1 Essakane (90%) 365 – 390 Rosebel (95%) 220 – 245 Westwood (100%) 45 – 65 Total Attributable Production 630 – 700 Cost of sales 2 ($/oz) $980 – $1,030 Total cash costs 3,4 ($/oz) $930 – $980 All-in sustaining costs 3,4 ($/oz) $1,230 – $1,280
Slide 9: 2021 Capex Outlook
2021 Capex Outlook ($ millions) Sustaining1 Non-Sustaining2 Total3 Essakane $60 $90 $150 Rosebel $50 $75 $125 Westwood $10 $10 $20 Operating Mines $120 $175 $295 Côté Gold Project (70%) – $355 $355 Boto Gold Project – $60 $60 Total (±5%) 3,4,5 $120 $590 $710 1 Sustaining capital includes capitalized
Slide 10: Upcoming Catalysts
Upcoming Catalysts 2021 KEY MILESTONES* o Rosebel – Return to Full Mining Rates; Completion of Saramacca Construction o Essakane – Completion of Mill Optimization Project o Growth Projects – Advancing: o Côté – Major Earthworks, Expansion of Construction Camp o Boto – Access Road & other Project Inf
Slide 11: Financial Review
Financial Review Photo: Wärtsilä 11
Slide 12: Overview
Overview KEY NOTES • Highlights from the Quarter: • Strong mine site free cash flows – generating $77.7 million in Q4 and $223.2 million for the year, up 280% YoY • Prudent Management of the Balance Sheet: • Cash, cash equivalents, short-term investments of $947.5 million as at December 31, 2020, ex
Slide 13: Summary of Fourth Quarter 2020 Financial Results
Summary of Fourth Quarter 2020 Financial Results Q4 Q3 Q2 Q1 Q4 (In $ Millions, unless otherwise stated) 2020 2020 2020 2020 2019 Revenues1 $347.5 $335.1 $284.6 $274.5 $293.4 Cost of Sales $263.5 $257.0 $228.3 $242.6 $252.3 Gross Profit $84.0 $78.1 $56.3 $31.9 $41.1 Gross Profit Margin (%) 24.2% 23.
Slide 14: Summary of 2020 Financial Results
Summary of 2020 Financial Results FY FY FY (In $ Millions, unless otherwise stated) 2020 2019 2018 Revenues1 $1,241.7 $1,065.3 $1,111.0 Cost of Sales $991.4 $995.7 $974.1 Gross Profit $250.3 $69.6 $136.9 Gross Profit Margin (%) 20.2% 6.5% 12.3% Adjusted Net Earnings (Loss) 2,3 – cont. ops $87.7 ($30
Slide 15: Mine Site Free Cash Flow
Mine Site Free Cash Flow2 Q4 Q4 FY FY (In $ Millions) 2020 2019 2020 2019 Net Cash from Operating Activities 1 $128.7 $262.5 $347.6 $363.0 Adjusting: Operating Cash Flow used by non-mine site activity $10.8 ($153.9) $78.3 ($87.9) Cash Flow from Operating Mine-Sites $139.5 $108.6 $425.9 $275.1 Capita
Slide 16: Côté Development: Fully Funded
Côté Development: Fully Funded IAMGOLD is well positioned to execute on Côté given existing liquidity and expected free cash flow from operations Senior Notes Outstanding ~$1.5 B2 EXPECTED Total Liquidity FREE CASH FLOW ($450 M) FROM EXISTING OPERATIONS Coupon: 5.75%; Maturity: Oct.15, 2028 $500 M C
Slide 17: Leverage Leader Among Peers
Leverage Leader Among Peers DISCIPLINED APPROACH FAVOURABLY POSITIONS COMPANY AMONG PRODUCER PEER GROUP Net Debt / 2021E EBITDA1,2 Net Cash / 2021E EBITDA1,2 0.7x 0.6x 0.6x 0.6x Net Debt 0.4x 0.4x 0.4x 0.1x (0.3x) Net (0.4x) Cash (0.4x) (0.7x) Source: S&P Capital IQ and Company disclosures. Market d
Slide 18: Operations
Operations 18
Slide 19: Focus on Safety: Outperformed Target Levels
Focus on Safety: Outperformed Target Levels DART & TRI RATES IMPROVED BY 10% AND 23% YOY, RESPECTIVELY DART1: 2020 TARGET – 0.57 2.40 TRI1: 2020 TARGET – 0.94 1.98 1.81* 1.76* 1.53* 1.56 1.44* 1.44 1.18 1.13 1.06 1.06 1.00 0.87 0.93 0.85 0.67 0.68 0.66 0.53 0.53 0.51 0.46 0.30 2009 2010 2011 2012 20
Slide 20: 2020 Attributable Reserves & Resources
2020 Attributable Reserves & Resources R&R REFLECTS SALE OF SADIOLA, WESTWOOD UPDATE IN MID-2020, AND MINE DEPLETION As at December 31, 2020 (000s ounces) 2020 %▲ 2019 Proven and Probable Mineral Reserves 1 13,937 (17%) 16,706 Measured and Indicated Mineral Resources 2,3 23,910 (12%) 27,164 Inferred
Slide 21: Q4 2020 Production & Cost Summary
Q4 2020 Production & Cost Summary UNDERPINNED BY STRONG ESSAKANE PERFORMANCE AND INCREASING MINING RATE AT ROSEBEL Attributable Production Cost of Sales1 Total Cash Costs2 AISC2 (000s oz) ($/oz sold) ($/oz produced) ($/oz sold) Essakane (90%) 103 $993 $928 $1,153 Rosebel (95%) 52 $1,135 $1,133 $1,31
Slide 22: 2020 Full Year Operating Results
2020 Full Year Operating Results IAMGOLD ACHIEVED THE MID-POINT OF 2020 PRODUCTION GUIDANCE1 2020 2020 (000s ounces, attributable) Q1/20 Q2/20 Q3/20 Q4/20 ACTUAL GUIDANCE Essakane (90%) 84 83 94 103 364 350 – 370 Rosebel (95%) 64 52 42 52 210 210 – 230 Westwood (100%) 22 20 23 14 79 70 – 80 TOTAL PR
Slide 23: Essakane: Continues to Deliver with Q4 Strongest Quarter of 2020
Essakane: Continues to Deliver with Q4 Strongest Quarter of 2020 Burkina Faso (90%) (attributable) Q4/20 2020 2019 Q4 AND 2020 HIGHLIGHTS • Strong quarter for both production and sales Gold Production (oz) 103,000 364,000 368,000 • Production up QoQ as mining in higher grade zones partially offset b
Slide 24: Rosebel: Demonstrated Strong Increase in Mining Rates Over Q4
Rosebel: Demonstrated Strong Increase in Mining Rates Over Q4 Suriname (95% Rosebel | 66.5% Saramacca1) (attributable) Q4/20 2020 2019 Q4 AND 2020 HIGHLIGHTS • Production lower YoY due to suspension of operations and expansion of camp Gold Production (oz) 52,000 210,000 251,000 accommodations TCC3 (
Slide 25: Saramacca Update
Saramacca Update TIRE SHOP WASH BAY ADMIN OFFICE TRUCK SHOP FUEL STATION WATER TANK GENSET COMPLETED 23 KM HAUL ROAD / BRIDGE (ZERO LOST TIME INCIDENTS OVER MORE THAN 700,000 WORK HOURS) BELOW: TRUCK SHOP RIGHT: GENSET ABOVE: TIRE SHOP 25
Slide 26: Westwood: FCF Positive, Significant Resource, A Cautious Approach
Westwood: FCF Positive, Significant Resource, A Cautious Approach Canada (100%) (attributable) Q4/20 2020 2019 Q4 AND 2020 NOTES • Q4 production supported by Grand Duc open pit and stockpile ore while Gold Production (oz) 14,000 79,000 91,000 underground mine production paused TCC2 (US$/oz) $1,016 $
Slide 27: Westwood – "Hub-and-Spoke" Model
Westwood – “Hub-and-Spoke” Model ATTRACTIVE DISTRICT EXPLORATION POTENTIAL1 THAT COULD SUPPLEMENT EXCESS MILL CAPACITY FAYOLLE PROPERTY (OP) A B ROUYN GOLD PROJECT (UG) 100% ACQUIRED FROM MONARCH GOLD IN JUNE 2020 OPTION TO ACQUIRE 100% FROM YORBEAU RESOURCES A Fayolle • ~35 km northeast of Rouyn-No
Slide 28: Construction Review
Construction Review This is the master for a divider page. In order to use a different photo in you presentation, copy all the elements from this page (except the logo, date and page number) and paste it onto a new “Blank” slide in your document. Insert your new picture, crop it to the same side as
Slide 29: Côté Gold – Potential Global Tier I Gold Asset
Côté Gold – Potential Global Tier I Gold Asset CÔTÉ HAS SIGNIFICANT DISTRICT SCALE POTENTIAL IN MINING-FRIENDLY CANADA Tier I Asset Criteria* I Mine Life >10 Years I 18+ Year Mine Life with district expansion potential • Based on only current mineral reserves of 7.3Moz1, with 10.2Moz in M&I2 and 3
Slide 30: Project Timeline – Key Milestones
Project Timeline – Key Milestones EXECUTION PLAN • Construction commenced at Côté in early September following ground-breaking ceremony with a 32 month schedule • Fish salvage, construction camp preparation and road access development • Activities advanced in Q4 2020 with ~73% project engineering co
Slide 31: Permitting Update
Permitting Update Previously Received / Approved Required for Construction Required for Operation Federal / Provincial Environmental Assessment Approval Lakes and Rivers Improvement Act (Scientific Fish Collection) Environmental Compliance Approval (Air and Noise) Environmental Compliance Ap
Slide 32: Construction Progress
Construction Progress PROCESSING PLANT EARTHWORKS ABOVE: CONSTRUCTION CAMP CONSTRUCTION EQUIPMENT Picture Tbd WOOD EARTHWORKS LAYDOWN ARCTIC CORRIDOR INSTALLATION 32
Slide 33: Côté Gold – Sensitivity to Gold Price
Côté Gold – Sensitivity to Gold Price SIGNIFICANT LEVERAGE TO THE GOLD PRICE After-Tax Net Present Value (NPV5%) – 100% Basis1 After-Tax Internal Rate of Return (IRR) – 100% Basis1 (US$Bn) (%) Spot Gold2 Spot Gold2 $2.8 27.6% Base 25.9% $2.5 Case 24.2% $2.3 22.4% Base Case $2.0 20.5% $1.8 18.6% 16.4
Slide 34: Development and Exploration Projects
Development and Exploration Projects 34
Slide 35: Q4 2020 Exploration Update
Q4 2020 Exploration Update KEY HIGHLIGHTS (US$ millions) Q4/20 2020 Exploration – Greenfield • Q4 exploration expenditures totaled $11.2 million $6.1 $19.9 Exploration – Brownfield $5.1 $16.4 • 2020 exploration expenditures totaled $36.3 million modestly below guidance Feasibility & Other studies –
Slide 36: Industry Leading Reserve Growth
Industry Leading Reserve Growth 17.9Moz 18 16.7Moz IAMGOLD P&P Reserves 14.5Moz 13.9Moz 13 11.3Moz 10.1Moz 8.6Moz +101% Growth in Reserve Base 7.7Moz 7.8Moz 8 512Moz 87 3 422Moz (18%) Decline in Reserve Base 24 395Moz 19 78 365Moz -2 349Moz 60 75 328Moz 23 69 314Moz 17 26 65 286Moz 62 43 20 22 54 -7
Slide 37: 2021 Exploration – Brownfield
2021 Exploration – Brownfield • At Essakane: • Drilling focused on resource potential at targets within trucking distance of the mine • Includes GEM, Korizena and Tassiri • At Rosebel: • Focussed on resource development and high priority targets within concessions • At Westwood: • Resource definitio
Slide 38: Exploration Potential at Côté
Exploration Potential at Côté GOSSELIN, YOUNG-SHANNON 1.5 KM NORTHEAST OF CÔTÉ Gosselin Drill Hole Highlights1,2 PROCESS • GOS19-17: 342.5 metres @ 0.98 g/t Au PLANT • incl. 225.0 metres @ 1.34 g/t Au • GOS19-24: 412.0 metres @ 1.28 g/t Au • incl. 221.4 metres @ 1.47 g/t Au • GOS19-30: 264.5 metres
Slide 39: Boto Gold – High Margin Investment in Prospective District
Boto Gold – High Margin Investment in Prospective District OVERVIEW RESERVE AND RESOURCE1 OPTIMIZATION STUDY HIGHLIGHTS1 (100% Basis) (100% Basis) Location • Senegal, West Africa Tonnes Grade Cont. Au Mine Capacity: Mining: open pit (000) (g/t) (000) 38 Mtpa Ownership • 90% IAMGOLD / 10% Gov’t of Se
Slide 40: Bambouk District: Boto – Karita – Diakha-Siribaya
Bambouk District: Boto – Karita – Diakha-Siribaya BOTO GOLD PROJECT, SENEGAL Gold Price After-tax NPV6%1 After-tax IRR1 Yatela Deposit Operation (US$/oz) (US$M) (%) • Announced the receipt of the exploitation permit $2,000 $732 55% Sadiola for an initial period of 20 years $1,900 $652 50% • De-riski
Slide 41: Chibougamau: Emerging Prospective District in Quebec, Canada
Chibougamau: Emerging Prospective District in Quebec, Canada NELLIGAN (75% JV INTEREST) • Delineation drilling to assess resource potential of mineralized extensions intersected in 2020 to support an updated resource estimate, as merited, in H2/2021 • Completion of geophysical surveys and follow up
Slide 42: Robust Exploration Pipeline
Robust Exploration Pipeline West Africa North America South America Fala/Fala E Grand Duc Saramacca >5 Moz Au Production >2 Moz Au <2 Moz Au Côté Construction Brownfield Advanced Greenfield Greenfield Boto Fayolle Feasibility Study Diakha-Siribaya Monster Lake Saõ Sebastiaõ Initial Resource / Gossey
Slide 43: IAMGOLD – Positioned for Profitable Growth
IAMGOLD – Positioned for Profitable Growth Diversified Operating Compelling Value & I Portfolio II Production Growth Robust Pipeline Strong Strong Financial V of Projects ESG III practices Position Culture of IV Accountable Mining 43
Slide 44: Appendix
Appendix # IAMGOLD
Slide 45: Reducing Input Exposure Through Hedging
Reducing Input Exposure Through Hedging 2021 2022 2023 2024 Foreign Currency1 Canadian dollar contracts (millions of C$) 252 210 185 Rate range2 ($/C$) 1.30 – 1.47 1.30 – 1.48 1.30 – 1.46 Hedge ratio 34% 27% 39% Commodities1,3,4 Brent oil contracts (barrels) 588 520 428 270 Contract price range ($/b
Slide 46: Gold Mineral Reserves – 100% Basis
Gold Mineral Reserves – 100% Basis As at December 31, 2020 PROVEN PROBABLE TOTAL RESERVES Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces DEPOSIT Type* Location (000’s) (g/t) (000’s) (000’s) (g/t) (000’s) (000’s) (g/t) (000’s) Rosebel 1 OP Suriname 25,355 0.6 504 88,439 1.0 2,852 113,794
Slide 47: Gold Mineral Reserves – Attributable
Gold Mineral Reserves – Attributable As at December 31, 2020 PROVEN PROBABLE TOTAL RESERVES Effective Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces DEPOSIT Location Ownership (000’s) (g/t) (000’s) (000’s) (g/t) (000’s) (000’s) (g/t) (000’s) Rosebel 1 95% Suriname 24,087 0.6 479 84,017
Slide 48: Gold Mineral Resources – 100% Basis
Gold Mineral Resources1,2 – 100% Basis (Measured & Indicated Resources are inclusive of Proven & Probable Reserves) As at December 31, 2020 MEASURED INDICATED MEASURED + INDICATED INFERRED Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces DEPOSIT Type* Location (000’s)
Slide 49: Gold Mineral Resources – Attributable
Gold Mineral Resources1,2 – Attributable (Measured & Indicated Resources are inclusive of Proven & Probable Reserves) As at December 31, 2020 MEASURED INDICATED MEASURED + INDICATED INFERRED Effective Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces DEPOSIT Location Ow
Slide 50: Notes to the Gold Mineral Resources Statement
Notes to the Gold Mineral Resources Statement 1 In mining operations, Measured Mineral Resources and Indicated Mineral Resources that are not Mineral Reserves are considered uneconomic at the price used for Mineral Reserve estimations but are deemed to have a reasonable prospect of economic extracti
Slide 51: Investor Relations Contacts
Indi Gopinathan, VP, Investor Relations & Corporate Communications 416-388-6883 Philip Rabenok, Senior Analyst, Investor Relations 647-967-9942