IAMGOLD Corporation Q4 FY2025 earnings call

• Last year was monumental with record revenues, gross margin over 40%, operating cash flow over $1 billion. • Achieved significant milestones like record quarterly productions, closed legacy gold prepaid obligation, repaid debt, established share buyback program. • Safety record: total recordable injury rate 0.60, down from prior year. • Production: Fourth quarter all mines reported record gold production, consolidated attributable gold production 242,400 ounces, up 28% QoQ. • Cost: All-in sustaining cost per ounce sold $1,750 in Q4, $1,900 for year within guidance. • Cote: Continue to fine-tune mining, milling, maintenance; 2026 focus on unit cost improvement. • Quebec: Westwood had strong Q4, production expected in range, mill throughput and grade details. • Essakane: Record production in Q4, cost improvement with higher volumes, resource and reserve updates. • Nelligan mining complex: Acquired assets, substantial exploration budget planned, preliminary economic assessment in 2027.

Cote Gold: Fourth quarter attributable gold production 87,200 ounces, full year 399,800 ounces. Fourth quarter cash cost $1,265 per ounce, all-in sustaining cost $1,688 per ounce. 2026 all-in sustaining cost expected $1,725 - $1,925 per ounce. Quebec: Westwood produced record 37,900 ounces in Q4. Cash cost $1,288 per ounce, all-in sustaining cost $1,719 per ounce. 2026 production expected 107,000 - 113,000 ounces. Essakane: Q4 production 138,100 ounces (100% basis). Cash cost $1,471 per ounce, all-in sustaining cost $1,674 per ounce. 2026 cash cost excluding royalties expected $1,150 - $1,300 per ounce, including royalties $1,600 - $1,750 per ounce. Attributable production expected 340,000 - 380,000 ounces (100% basis).

• Cote 2026 all-in sustaining cost expected $1,725 - $1,925 per ounce sold. Expansion capital estimated $85 million. • Quebec Westwood 2026 production expected 107,000 - 113,000 ounces. Cash costs $1,500 - $1,650 per ounce, all-in sustained cost $1,950 - $2,100 per ounce. Sustaining capital expenditures $55 million, expansion capital $30 million. • Essakane 2026 cash costs excluding royalties expected $1,150 - $1,300 per ounce sold, including royalties $1,600 - $1,750 per ounce. All-in sustaining cost expected $2,000 - $2,150 per ounce sold. Attributable production expected 340,000 - 380,000 ounces (100% basis). • Plan to use cash repatriated from Essakane in 2026 to fund share buyback program, estimating between $400 million - $500 million at $4,000 per ounce gold price.

Q: Mohamed Sidibe from National Bank asked about Essakane's position in the portfolio and potential mine life extension.

A: Essakane has seen increased resources, potential for 5 more years of life, cash flow used to reward shareholders.

Q: Mohamed Sidibe asked on Cote unit cost.

A: Mining costs expected to improve in 2026, adjustments being made, path forward for cost reduction.

Q: Sathish Kasinathan from Bank of America asked on Cote mine plan stage capital.

A: Stage capital means focusing on expansion step by step, capital funded by asset free cash flow.

Q: Sathish Kasinathan asked on Essakane cash and share buybacks.

A: Expect remaining shareholder balance repaid by end of Q2/Q3, free cash flow used for share buyback.

Q: Anita Soni from CIBC asked on Gosselin reserve and resource update.

A: Expect Q2 update, target $20 million+ MI resource base, significant increase in reserves.

Q: Tanya Jakusconek from Scotiabank asked on Cote capital and production seasonality.

A: Capital still in trade-off, Cote Q1/Q2 lower due to maintenance, H2 stronger.

Q: Tanya Jakusconek asked on dividend plan.

A: Postpone decision after Q2 to see share buyback progress and Canadian excess cash.