Iamgold Corporation · TSX:IMG

Iamgold — Q1 2022 Earnings Presentation

24 slides from Iamgold's earnings presentation, May 4, 2022

  1. Slide 1: Q1 2022 Financial & Operating Results

    FIRST QUARTER 2022 RESULTS Q1 2022 Financial & Operating Results TSX: IMG l NYSE: IAG May 4, 2022 Conference Call www.iamgold.com TSX: IMG l NYSE: IAG l www.iamgold.com

  2. Slide 2: Cautionary Statement

    FIRST QUARTER 2022 RESULTS Cautionary Statement CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION All information included in this news release, including any information as to the Company’s future financial or operating performance and other statements that express management’s expectation

  3. Slide 3: Technical Information and Qualified Persons

    FIRST QUARTER 2022 RESULTS Technical Information and Qualified Persons CAUTIONARY NOTE TO U.S. INVESTORS REGARDING DISCLOSURE OF MINERAL RESERVE AND MINERAL RESOURCE ESTIMATES The mineral resource and reserve estimates contained in this presentation have been prepared in accordance with NI 43-101 an

  4. Slide 4: Highlights

    FIRST QUARTER 2022 RESULTS Highlights CORPORATE & STRATEGIC Current Chair Maryse Bélanger assumes role as Interim President and CEO, David Smith as Lead Director Q1 mine-site free cash flow1 of $87.5 million and adjusted EBITDA1 of $137.6 million Cash, cash equivalents and short-term investments and

  5. Slide 5: Q1 2022 Operational Overview

    FIRST QUARTER 2022 RESULTS Q1 2022 Operational Overview OPERATING PERFORMANCE OPERATING RESULTS 2022 • Gold production of 174,000 ounces (attributable) Q1 2022 Q4 2021 Guidance • Highest quarterly production in two years Essakane (90%) koz 112 98 360 – 385 • Strong performance at Essakane and improv

  6. Slide 6: Q1 2022 Financial Review

    FIRST QUARTER 2022 RESULTS Q1 2022 Financial Review FINANCIAL PERFORMANCE (In $ millions, unless otherwise stated) Q1 2022 Q4 2021 Q1 2021 • Gold revenues of $356.6 million from sales of 196,000 ounces (181,000 Revenues 356.6 294.6 297.4 attributable) at an average price of $1,813/oz Gross profit (l

  7. Slide 7: Q1 2022 Cash Flow Reconciliation

    FIRST QUARTER 2022 RESULTS Q1 2022 Cash Flow Reconciliation KEY HIGHLIGHTS  Operating activities +$7.8 +$8.4 • Cash generated from operating activities ($143.1 million), partially offset by income taxes paid ($9.2 million) +$133.9 ($168.3)  Working capital • Decrease in inventories / stockpiles ($

  8. Slide 8: Operations

    FIRST QUARTER 2022 RESULTS Operations 8

  9. Slide 9: Essakane: Record Quarterly Production on Better Grades

    FIRST QUARTER 2022 RESULTS Essakane: Record Quarterly Production on Better Grades Q1 SUMMARY Key Operating Statistics • Attributable production of 112,000 ounces (124,000 ounces 100% basis), 14% higher QoQ on better grades and ore blend management at the mill, offset by lower throughput and recoveri

  10. Slide 10: Rosebel: Good Start to Year with Stronger H2 Expected

    FIRST QUARTER 2022 RESULTS Rosebel: Good Start to Year with Stronger H2 Expected Q1 SUMMARY Key Operating Statistics (100% basis, unless otherwise stated) Q1/22 Q4/21 Q1/21 • Attributable production of 46,000 ounces, 10% higher QoQ, benefiting from improved Ore mined1 kt 1,588 2,194 1,247 recoveries

  11. Slide 11: Westwood Complex: Underground Development Continues

    FIRST QUARTER 2022 RESULTS Westwood Complex: Underground Development Continues Q1 SUMMARY Key Operating Statistics (100% basis, unless otherwise stated) Q1/22 Q4/21 Q1/21 • Attributable production of 16,000 ounces, 23% higher QoQ, benefiting from higher Ore mined – underground kt 63 61 – underground

  12. Slide 12: Construction

    FIRST QUARTER 2022 RESULTS Construction 12

  13. Slide 13: Côté Gold: Quarterly Progress Report

    FIRST QUARTER 2022 RESULTS Côté Gold: Quarterly Progress Report as at Mar 31, 2022 ~49% 96.6% $130M $617M $494M project completion detailed engineering incurred in Q1 incurred to date1 expended to date1 ACTIVITIES UPDATE • Expended $82.3 million (incurred $130 million) in Q1 2022 • Mine facilities:

  14. Slide 14: Côté Gold: Preliminary Risk Analysis on Project Costs & Schedule

    FIRST QUARTER 2022 RESULTS Côté Gold: Preliminary Risk Analysis on Project Costs & Schedule PROJECT REVIEW & RISK ANALYSIS “SUPERTREND” • Reasons why: Appointment of new Executive Project Director in December 2021 and identification of certain inflationary and other cost pressures impacting earthwor

  15. Slide 15: Côté Gold: Supertrend Cost Drivers

    FIRST QUARTER 2022 RESULTS Côté Gold: Supertrend Cost Drivers IMPACTS DRIVING UPDATED ESTIMATE1 ESTIMATED COST INCREASE DRIVERS The preliminary estimated updated costs to completion, excluding contingencies, result from additional costs and schedule impacts in the following cost categories and Other

  16. Slide 16: Côté Gold: Timeline of Activities

    FIRST QUARTER 2022 RESULTS Côté Gold: Timeline of Activities 2020 2021 2022 2023 2024 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 PROJECT TIMELINE Construction Approval2  Construction Start3  Major Earthworks Start  Main Access Road Complete  Process Building Enclosed Start of Plant Eq

  17. Slide 17: Côté Gold: Robust, Tier I, Low-cost and Long-life Asset

    FIRST QUARTER 2022 RESULTS Côté Gold: Robust, Tier I, Low-cost and Long-life Asset GOLD PRODUCTION1 (100% basis) OPERATING COSTS2 RESERVES & RESOURCES3 EMERGING GOLD DISTRICT Life of mine Cash costs Proven & Probable >540 km2 exploration 367,000 oz/yr $659/oz 7.2 Moz land package First 5 years AISC

  18. Slide 18: Liquidity Outlook

    FIRST QUARTER 2022 RESULTS Liquidity Outlook Liquidity $524 million • Total available liquidity1 of $1.0 billion as at March 31, 2022 Cash & equivalents2 • Credit facility: $100 million drawdown in April, while completing certain cash repatriation initiatives • Expectation to draw down all of this f

  19. Slide 19: Q&A

    FIRST QUARTER 2022 RESULTS Q&A 19

  20. Slide 20: Appendix

    FIRST QUARTER 2022 RESULTS Appendix 20

  21. Slide 21: Hedge Portfolio: Foreign Currency and Oil Derivatives

    FIRST QUARTER 2022 RESULTS Hedge Portfolio: Foreign Currency and Oil Derivatives (as at March 31, 2022) 2022 2023 2024 Foreign Currency1 Canadian dollar contracts2 (millions of C$) 459 185 120 Rate range (USDCAD) 1.28 – 1.48 1.30 – 1.46 1.32 Hedge ratio3 52% 29% 14% Commodities4 Brent oil contracts

  22. Slide 22: Hedge Portfolio: Gold Bullion Contracts

    FIRST QUARTER 2022 RESULTS Hedge Portfolio: Gold Bullion Contracts (as at March 31, 2022) Put Call 2022 2023 2024 $/ounce 000s of ounces Zero cost collars (1) $1,700 $2,366 28 93 – Zero cost collars (2) $1,850 $1,990 – 75 – Subtotal gold bullion contracts 28 168 – 2019 Prepay arrangement $1,300 $1,5

  23. Slide 23: Gold Prepayment – Illustrative Impact

    FIRST QUARTER 2022 RESULTS Gold Prepayment – Illustrative Impact PREPAYMENT ARRANGEMENT STRUCTURE GOLD PREPAY RECOGNITION • Cash proceeds received up front in return for obligation to unit 2019 2022 2024 deliver ounces at a later date Illustrative gold price US$/oz $1,300 $1,800 $1,800 • Settlement

  24. Slide 24: Graeme Jennings, VP, Investor Relations

    FIRST QUARTER 2022 RESULTS Graeme Jennings, VP, Investor Relations Philip Rabenok, Manager, Investor Relations 416-388-6883 647-967-9942 TSX: IMG l NYSE: IAG l www.iamgold.com

IAMGOLD — Q1 2022 Earnings Presentation on 6ix