Slide 1: First Quarter 2019 Results
First Quarter 2019 Results May 7, 2019 TSX: IMG l NYSE: IAG
Slide 2: Management Participants
Management Participants • Steve Letwin President & Chief Executive Officer • Gordon Stothart Executive Vice President & Chief Operating Officer • Carol Banducci Executive Vice President & Chief Financial Officer • Craig MacDougall Senior Vice President, Exploration • Jeff Snow SVP, Corporate Develop
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, other than s
Slide 4: Technical Information and Qualified Persons
Technical Information and Qualified Persons The mineral resource estimates contained in this news release have been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43- 101"). The "Qualified Person" responsible for the review and approval of al
Slide 5: Self-Funding Model
Self-Funding Model • Mine sites tasked with Rosebel standalone cash flow generation. • Mine sites fund corporate, exploration, Essakane IMG Exploration & Development and project requirements. • We are initiating an aggressive cost-cutting Westwood and productivity improvement strategy. 5
Slide 6: Self-Funding, Self-Sustaining, Safe & Profitable
Self-Funding, Self-Sustaining, Safe & Profitable Our Operations REINFORCING THE MODEL • Operating cost management to achieve positive cash-flow; • Capital expenditures reflect value-adding initiatives. Operational improvements at our current sites: • Debottleneck Essakane mill; Essakane, Burkina Fas
Slide 7: Enterprise Value per Reserve Ounce
Enterprise Value per Reserve Ounce As of 12/31/2018 IAMGOLD RESERVE OUNCES REMAIN DISCOUNTED RELATIVE TO PEERS. $550 $541 $540 $337 $309 $215 $198 $107 $88 $65 $64 Agnico Eagle Evolution B2Gold OceanaGold Endeavour Kinross Yamana Centerra New Gold IAMGOLD Eldorado Source: Captial IQ, Corporate Discl
Slide 8: Reserve Ounces per Share
Reserve Ounces per Share (12/31/2018) IAMGOLD – BALANCE OF OUNCES AND EQUITY 0.13 oz 0.11 oz 0.09 oz 0.05 oz 0.04 oz 0.02 oz 0.02 oz 0.01 oz 0.01 oz 0.01 oz 0.004 oz Endeavour Eldorado Agnico Centerra IAMGOLD New Gold Kinross OceanaGold Yamana B2Gold Evolution Source: Captial IQ, Corporate Disclosur
Slide 9: Q1 2019 Highlights
Q1 2019 Highlights GOAL: SELF-FUNDED, SELF-SUSTAINING, SAFE & PROFITABLE SITES Operations: • Rosebel: › Significant Reserve Growth, Extending Mine Life; Saramacca Progressing; › Positioned for self-funding and self-sustaining once Saramacca online. • Essakane: › Strong Production, Optimizing Perform
Slide 10: Financial Review
Financial Review SSS t# IAMGOLD 10
Slide 11: Summary of Financial Results
Summary of Financial Results Q1 Q1 (In $ millions, except per share amounts) 2019 2018 Revenues1 $ 251.0 $ 314.5 Cost of Sales $ 251.9 $ 238.7 Gross profit (loss) $ (0.9) $ 75.8 Adjusted net earnings (loss)2,3 $ (2.2) $ 40.4 Adjusted net earnings (loss)2,3 ($/share) – $ 0.09 Net cash from operating
Slide 12: Q1 Financials
Q1 Financials KEY NOTES • Strong financial position: › Cash, cash equivalents, short-term investments primarily in money market funds and restricted cash of $696.6 million dollars at March 31, 2019. • Normalization of costs at Westwood for the three months ended March 31, 2019: › In accordance with
Slide 13: Industry Leading Financial Position
Industry Leading Financial Position Cash & Cash Equivalents and Short-term Investments Position (US$M) $673 $349 $267 $230 $221 $191 $180 $132 $115 $103 $97 $87 $85 IAMGOLD Kinross* Agnico Eagle Eldorado Evolution* Alamos Centerra New Gold Yamana B2Gold* SEMAFO* OceanaGold Endeavour Net Cash (Debt)
Slide 14: Operations Review
Operations Review 14
Slide 15: Focus on Safety
Focus on Safety HISTORICAL GLOBAL DART & TRI RATES PER 200,000 HOURS WORKED 2.40 DART: Q1 2019 – reduction of 12%** TRI: Q1 2019 – reduction of 20%** * Without Niobec 1.98 ** Compared to 2018 (full year) 1.81* 1.76* 1.53* 1.56 1.44* 1.44 1.18 1.13 1.06 1.06 1.00 0.93 0.91 0.85 0.68 0.66 0.53 0.53 0.
Slide 16: Q1 2019 Production & Cost Summary
Q1 2019 Production & Cost Summary Attributable Cost of Total Cash AISC2 Production Sales1 Costs2 ($/oz sold) (000s oz) ($/oz sold) ($/oz produced) Essakane 90 $896 $883 $1,010 Rosebel 68 $889 $901 $1,064 Westwood 15 $1549 $858 $1,192 Sadiola 12 – $832 $841 Total* 185 $962 $884 $1,086 2019 Guidance A
Slide 17: Rosebel: Reserve Growth; Saramacca Progressing
Rosebel: Reserve Growth; Saramacca Progressing Suriname (95%) Q1 HIGHLIGHTS Q1/19 Q1 Actual • Q1’19 recoveries of 97% are 1% higher than Q4’18 and 4% higher than a year ago Attributable gold production (oz) 68,000 • Increase due to CIC plant, which added 2,200 ozs TCC1 $901 Saramacca AISC1 $1,064 On
Slide 18: Essakane: Optimizing Performance
Essakane: Optimizing Performance Burkina Faso (90%) Q1 HIGHLIGHTS Q1/19 Q1 Actual • Solar plant, hedging partially mitigating cost pressures Attributable gold production (oz) 90,000 Continuous Improvement TCC1 $883 CIL Debottlenecking project • Engineering complete, moving to procurement AISC1 $1,01
Slide 19: Westwood: Long-life Asset; Redesign in Progress
Westwood: Long-life Asset; Redesign in Progress Quebec (100%) Q1 HIGHLIGHTS Q1/19 Q1 Actual • Focus on development work for Block 3 access Attributable gold production (oz) 15,000 • Production expected to improve starting in the Q2 compared to the Q1; TCC1 $858 • Expected to be strongest in Q4; AISC
Slide 20: Exploration Review
Exploration Review 20
Slide 21: Exploration Highlights
Exploration Highlights Q1 HIGHLIGHTS • Drilling activities at active projects and mine sites totalled approximately 78,400 metres during the quarter. • Continue to support the Feasibility Study at Essakane • Evaluate underground potential of Saramacca Deposit • Commenced delineation drilling program
Slide 22: Re-seeding the Pipeline
Re-seeding the Pipeline >5 Moz Au Brownfield >2 Moz Au Advance Greenfield <2 Moz Au Greenfield Production Fala/Fala E Côté Boto Saramacca Feasibility Study Sadiola Pre-feasibility Study Monster Lake Diakha Yorbeau Saõ Sebastiaõ Gossey E. Borosi Initial Resource / Scoping Nelligan Tassiri Korizena Je
Slide 23: Near Term Catalysts
Near Term Catalysts H1 2019 $170 Million Gold Prepay Agreement Diahka-Siribaya Updated Resource Essakane CIL and Heap Leach Feasibility Study H2 2019 Saramacca Production Expect delivery of Boto Mining Permit Nelligan Initial Resource Westwood Plan Update 2020 Saramacca Full Production Essakane Debo
Slide 24: IAMGOLD: Building a Cash Flow Pipeline
IAMGOLD: Building a Cash Flow Pipeline Our vision is to be the global leader in generating superior value for our stakeholders through accountable mining. 1 2 3 4 CREATING DIVERSIFYING MAINTAINING ENSURING superior our portfolio a strong a robust shareholder balance sheet pipeline value • Operationa
Slide 25: Appendix
Appendix tf [IAMGOLD 25
Slide 26: Hedge position – Q1 2019
Hedge position – Q1 2019 2019 2020 2021 2022 2023 Foreign Currency Canadian dollars (millions of C$) 1 20 - - - - Canadian dollar contracts (millions of C$) 212 186 - - - 2 Rate range ($/C$) 1.25 - 1.39 1.30 - 1.36 - - - Hedge ratio 69% 50% 3 Euro (millions of €) 70 - - - - Euro contracts (millions
Slide 27: TSX: IMG l NYSE: IAG
Indi Gopinathan Martin Dumont Investor Relations Lead Senior Analyst, Investor Relations T: 416-360-4743 T: 416-933-5783 TSX: IMG l NYSE: IAG27