Slides
Page 1
LAMGOLD Q2 2026 EARNINGS RESULTS CONFERENCE CALL AUG 7 , 2026 MINING . REDEFINED .
Page 2
2 CAUTIONARY STATEMENT All information included or incorporated by reference in this MD&A, 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 impact, including statements in respect of the prospects and/or development of the Company’s projects, other than statements of historical fact, constitutes forward-looking information or forward-looking statements within the meaning of applicable securities laws (collectively referred to herein as “forward-looking statements”) and such forward-looking statements are based on expectations, estimates and projections as of the date of this MD&A. Forward-looking statements are generally identifiable by the use of words such as “may”, “will”, “should”, “would”, “could”, “continue”, “expect”, “budget”, “aim”, “can”, “focus”, “forecast”, “anticipate”, “estimate”, “maintain”, “believe”, “intend”, “plan”, “schedule”, “guidance”, “outlook”, “potential”, “seek”, “targets”, “cover”, “strategy”, “during”, “ongoing”, “subject to”, “future”, “objectives”, “opportunities”, “committed”, “prospective”, “likely”, “progress”, “strive”, “sustain”, “effort”, “extend”, “remain”, “pursue”, “predict”, or “project” or the negative of these words or other variations on these words or comparable terminology. In particular, forward-looking statements in this MD&A include, without limitation, those under the headings “About IAMGOLD”, “Highlights”, “Outlook”, “Environmental, Social and Governance”, “Operations”, “Financial Condition" and “Quarterly Financial Review” and include, but are not limited to, statements with respect to: the estimation of mineral reserves and mineral resources and the realization of such estimates; operational and financial performance including the Company’s guidance for and actual results of production, ESG performance, costs and capital and other expenditures such as exploration and including depreciation expense and effective tax rate; long-term value and capital allocation; the updated life-of-mine plan, ramp-up assumptions and other project metrics including operating costs, processing rates, throughput and operational optimization initiatives in respect of the Côté Gold Mine; expected production of the Côté Gold Mine; expected benefits from the operational improvements and de-risking strategies implemented or to be implemented by the Company; mine development activities; the Company’s capital allocation and liquidity, including potential returns of capital to shareholders; the timing and ability to repatriate excess cash from Essakane; the composition of the Company’s portfolio of assets including its operating mines, development and exploration projects; the advancement and potential development of the Company’s exploration and development projects, including the Nelligan Mining Complex; the sale of its Malian asset; permitting timelines and the expected receipt of permits; inflation, including global inflation and inflationary pressures; global supply chain constraints; environmental verification, biodiversity, including commitments related thereto and social development projects; plans, targets, proposals and strategies with respect to sustainability, including third party data on which the Company relies, and their implementation; commitments with respect to sustainability and the impact thereof; commitments with respect to greenhouse gas emissions and energy transition; commitments related to social performance, including commitments in furtherance of Indigenous relations; the ability to secure alternative sources of consumables of comparable quality and on reasonable terms; workforce and contractor availability, labour costs and other labour impacts; the future price of gold and other commodities; equity financings, foreign exchange rates and currency fluctuations; financial instruments; hedging strategies; impairment assessments and assets carrying values estimates; safety and security concerns in the jurisdictions in which the Company operates and the impact thereof on the Company’s operational and financial performance and financial condition; and government regulation of mining operations. The Company cautions the reader that forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, financial, operational and other risks, uncertainties, contingencies and other factors, including those described below, which could cause actual results, performance or achievements of the Company to be materially different from results, performance or achievements expressed or implied by such forward-looking statements and, as such, undue reliance must not be placed on them. Forward-looking statements are also based on numerous material factors and assumptions, including as described in this MD&A with respect to: the Company’s present and future business strategies; operations performance within expected ranges; anticipated future production and cash flows; local and global economic conditions and the environment in which the Company will operate in the future; the price of precious metals, other minerals and key commodities; projected mineral grades; international exchanges rates; anticipated capital and operating costs; the availability and timing of required governmental and other approvals for the construction of the Company’s projects. Risks, uncertainties, contingencies and other factors that could cause actual results, performance or achievements of the Company to be materially different from results, performance or achievements expressed or implied by such forward-looking statements include, without limitation: the Company’s business strategies and its ability to execute thereon; the development and execution of implementing strategies to meet the Company’s sustainability vision and targets; security risks, including civil unrest, war or terrorism and disruptions to the Company’s supply chain and transit routes as a result of such security risks, particularly in Burkina Faso and the Sahel region surrounding the Company’s Essakane mine; the availability of labour and qualified contractors; the availability of key inputs for the Company’s operations and disruptions in global supply chains; tariffs and increase costs of supplies and equipment; the volatility of the Company’s securities; litigation; contests over title to properties, particularly title to undeveloped properties; mine closure and rehabilitation risks; management of certain of the Company’s assets by other companies or joint venture partners; the lack of availability of insurance covering all of the risks associated with a mining company’s operations; unexpected geological conditions; competition and consolidation in the mining sector; the profitability of the Company being highly dependent on the condition and results of the mining industry as a whole, and the gold mining industry in particular; changes in the global prices for gold, and commodities used in the operation of the Company’s business (including, but not limited to diesel, fuel oil and electricity); legal, litigation, legislative, political or economic risks and new developments in the jurisdictions in which the Company carries on business, including the imposition of tariffs by the United States on Canadian products; changes in taxes, including mining tax regimes; the failure to obtain in a timely manner from authorities key permits, authorizations or approvals necessary for transactions, exploration, development or operation, operating or technical difficulties in connection with mining or development activities, including geotechnical difficulties and major equipment failure; the availability of capital; the level of liquidity and capital resources; access to capital markets and financing; the Company’s level of indebtedness; the Company’s ability to satisfy covenants under its credit facilities; changes in interest rates; adverse changes in the Company’s credit rating; the Company’s choices in capital allocation; effectiveness of the Company’s ongoing cost containment efforts; the Company’s ability to execute on de-risking activities and measures to improve operations; availability of specific assets to meet contractual obligations; risks related to third-party contractors, including reduced control over aspects of the Company’s operations and/or the failure and/or the effectiveness of contractors to perform; risks relating to acquisitions and divestitures; risks arising from holding derivative instruments; changes in U.S. dollar and other currency exchange rates or gold lease rates; capital and currency controls in foreign jurisdictions; assessment of carrying values for the Company’s assets, including the ongoing potential for material impairment and/or write-downs of such assets; the speculative nature of exploration and development, including the risks of diminishing quantities or grades of reserves; the fact that reserves and resources, expected metallurgical recoveries, capital and operating costs are estimates which may require revision; the presence of unfavourable content in ore deposits, including clay and coarse gold; inaccuracies in life of mine plans; failure to meet operational targets; equipment malfunctions; information systems security threats and cybersecurity; laws and regulations governing the protection of the environment (including greenhouse gas emission reduction and other energy transition requirements; the uncertainty surrounding the interpretation of omnibus Bill C-59 and the related amendments to the Competition Act (Canada); employee relations and labour disputes; the maintenance of tailings storage facilities and the potential for a major spill or failure of the tailings facilities due to uncontrollable events, lack of reliable infrastructure, including access to roads, bridges, power sources and water supplies; physical and regulatory risks related to climate change; unpredictable weather patterns and challenging weather conditions at mine sites; disruptions from weather related events resulting in limited or no productivity such as forest fires, severe storms, flooding, drought, heavy snowfall, poor air quality, and extreme heat or cold; attraction and retention of key employees and other qualified personnel; availability and increasing costs associated with mining inputs and labour, negotiations with respect to new, reasonable collective labour agreements and/or collective bargaining agreements may not be agreed to; the ability of contractors to timely complete projects on acceptable terms; the relationship with the communities surrounding the Company’s operations and projects; indigenous rights or claims; illegal mining; the potential direct or indirect operational impacts resulting from external factors, including infectious diseases, pandemics, or other public health emergencies; and the inherent risks involved in the exploration, development and mining business generally. Please see the Company’s AIF available on SEDAR+ at www.sedarplus.ca or Form 40-F available on EDGAR at www.sec.gov/edgar for a comprehensive discussion of the risks faced by the Company and which may cause actual results, performance or achievements of the Company to be materially different from results, performance or achievements expressed or implied by forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as required by applicable law.
Page 3
3 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 in accordance with the Canadian securities administrators’ NI 43-101. The SEC disclosure requirements and policies for mining properties were amended in 2019 to more closely align with current industry and global regulatory practices and standards, including NI 43-101. However, foreign private issuers that file their annual report on Form 40-F with the SEC pursuant to the Multijurisdictional Disclosure System (“MJDS”), such as the Company, may use NI 43-101 rather than the SEC’s disclosure requirements and are not required to provide disclosure under subpart 1300 of Regulation S-K when filing MJDS registration statements and annual reports. Accordingly, information contained in this report may not be comparable to similar information disclosed by US companies. If the Company ceases to be a foreign private issuer or loses its eligibility to file its annual report on Form 40-F pursuant to MJDS, then the Company will be subject to reporting pursuant to subpart 1300 of Regulation S-K, which differ from the requirements of NI 43-101. US investors are urged to consider closely the disclosure on technical terminology under the heading “Technical Information” in the Company’s AIF filed with Canadian securities regulatory authorities at www.sedarplus.ca and filed under Form 40-F with the SEC at www.sec.gov/edgar, incorporated by reference into this news release. QUALIFIED PERSON AND TECHNICAL INFORMATION The technical and scientific information relating to exploration activities disclosed in this document was prepared under the supervision of and verified and reviewed by Marie-France Bugnon, P.Geo., Vice President, Exploration, IAMGOLD. Ms. Bugnon is a “qualified person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). Christine Beausoleil, P.Geo. (Senior Director, Mining Geology, IAMGOLD Corporation), is the qualified person responsible for the review and approval of all mineral resource estimates contained herein, as at March 31, 2026. Adrienne Rispoli, P. Eng. (Senior Director, Mining and Integrated Planning, IAMGOLD Corporation), is the qualified person responsible for the review and approval of all mineral reserve estimates contained herein, as at December 31, 2025. For the recently acquired Philibert and Chevrier properties (acquired on December 19, 2025), the mineral resource estimates provided in this statement are based on data as reported in the respective NI 43-101 Technical Reports. The qualified persons responsible for these estimates have consented under NI 43-101 to the incorporation of their data in this report. IAMGOLD has not revised or altered the original information provided for these properties. For Philibert, the qualified persons Mr. Merouane Rachidi, P.Geo., and Mr. Claude Duplessis, P.Eng.; for Chevrier, the qualified persons are Ms. Susan Lomas, P.Geo., Mr. André Liboiron, P.Geo. and Mr. Jonathan Lavoie, P.Eng. The technical information has been included herein with the consent and prior review of the above noted qualified persons, who have verified the data disclosed, and data underlying the information or opinions contained herein. Data verification involves data input and review by senior project geologists at site, scheduled weekly and monthly reporting to senior exploration management and the completion of project site visits by senior exploration management to review the status of ongoing project activities and data underlying reported results. All drilling results for exploration projects or supporting resource and reserve estimates referenced in this news release have been previously reported in news release disclosures either by the Company or the project operator as the case may be (see referenced news releases) and have been prepared in accordance with NI 43-101. The sampling and assay data from drilling programs are monitored through the implementation of a quality assurance – quality control (QA-QC) program designed to follow industry best practices. Drill core (HQ and NQ size) samples are selected by the project geologists and sawn in half with a diamond saw at the project site. Half of the core is typically retained at the site for reference purposes. Generally, sample intervals are 1.0 to 1.5 metres in length, and reverse circulation holes are sampled at 1.0 metre intervals at the drill rig. Samples are prepared and analyzed at site for the Company's producing mines and at accredited regional laboratories for the Company's exploration projects, using analysis techniques such as standard fire assay with a 50 gram charge, fire assay with gravimetric finish, or LeachWELL rapid cyanide leach with fire assay with a 50 gram charge. NON - GAAP FINANCIAL MEASURES This presentation contains non-GAAP financial measures, including average realized gold price per ounce sold, cash costs, cash costs (excluding royalties), cash costs per ounce sold, AISC, AISC per ounce sold, net cash from operating activities before changes in working capital, mine-site free cash flow, liquidity, net cash (debt), EBITDA, adjusted EBITDA, adjusted net earnings (loss) attributable to equity holders and adjusted net earnings (loss) per share attributable to equity holders, sustaining capital expenditures, expansion capital expenditures, and project expenditures. The non-GAAP financial measures disclosures included in the Company’s Q2 2026 MD&A are incorporated by reference in this presentation. Further details on these non-GAAP financial measures are included on pages 32 to 43 of the Company’s Q2 2026 MD&A filed on SEDAR at www.sedarplus.ca and on EDGAR at www.sec.gov/edgar.
Page 4
OVERVIEW 4 Q2 2026 OPERATING & FINANCIAL HIGHLIGHTS • Gold production (attr.) of 188,100 oz | YTD: 371,700 oz • Cash costs2 (excl. royalties) of $1,289/oz, Cash costs2 of $1,642/oz and AISC2 of $2,271/oz • Trailing 12 month adj. EBITDA of $2.2 billion • Share buyback of $510.4 M since Dec 2025 • De-levered with net cash of $52.2 M (excl. leases and letters of credit) LOOKING FORWARD • 2026 production (attr.) of 720,000 – 820,000 oz @ cash costs2 (excl. royalties) of $1,100 – $1,250/oz • Upcoming catalysts: • Q4/26: Updated Côté technical report and mine plan • H1/27: Essakane technical report evaluating a potential extension to 2035 • mid-27: Nelligan preliminary economic assessment • H2/27: Westwood mine life extension and underground expansion technical report A LEADING, MODERN CANADIAN-FOCUSED MULTI-ASSET PRODUCER • Côté Gold: One of Canada’s largest open pit gold mines, a model for modern mining, with significant growth potential • Westwood: Quebec underground success story, generating positive cashflow with a revised technical approach to underground mining • Essakane: 6th largest gold mine in West Africa, leader in the community, averaging ~ 400,000 oz per year over last 10 years • Nelligan Complex1: Recent consolidation of Chibougamau-Chapais region with combined 4.3 Moz Indicated and 7.5 Moz Inf, positioning project among the largest pre-production gold camps in Canada • Responsibility: Committed to responsible mining practices and focus on safety 1. On Dec 19, 2025 and Dec 22, 2025, IAMGOLD closed the previously announced agreements to acquire Northern Superior Resources and Mines d’Or Orbec 2. This is a non-GAAP financial measure. Refer to the “Non-GAAP Financial Measures” section on slide #3.
Page 5
5 Q2 OPERATING HIGHLIGHTS RESPONSIBILITY • Q2 TRIFR of 0.70, with YTD TRIFR of 0.56 • Zero significant environmental incidents reported in Q2 PRODUCTION • Gold production (attr.1) of 188,100 oz | YTD: 371,700 oz • Côté production (attr. 1) of 67,300 oz (96,200 oz @ 100%) • Westwood production of 32,400 oz • Essakane production (attr. 1) of 88,400 oz (104,000 oz @ 100%) • On track to achieve production guidance of 720,000 – 820,000oz • Production to increase through the year as Côté continues to debottleneck operations and implement operating improvements OPERATING COSTS (per gold ounce sold) • Cash costs (excl. royalties)3 of $1,289/oz | YTD: $1,244/oz • Cash costs3 of $1,642/oz | YTD: $1,624/oz • AISC (excl. royalties) 3 of $1,918/oz | YTD: $1,815/oz • Royalties: costs at Côté Gold and Essakane have direct exposure to the gold price through royalties: H1 2026 royalties avg. $380/oz • Oil impact: A $10/bbl in oil price ≈ $12/oz in cash costs • Inflation: In H1 2026, ~ 3% inflation across certain commodity inputs 1. Attributable production accounts for IAG interest as follows: Côté @ 70% | Essakane @ 85% after Q2 2025, @90% prior 2. Cost of sales, excluding depreciation, is disclosed in the cost of sales note in the consolidated interim financial statements. 3. This is a non-GAAP financial measure. Refer to “Non-GAAP Financial Measures” on slide #3. OPERATING RESULTS Q2 2026 Q2 2025 YTD 2026 2026 Guidance Côté Gold (attr.) koz 67.3 67.0 119.6 270 – 310 Westwood (100%) koz 32.4 29.4 68.6 110 – 130 Essakane (85%) koz 88.4 76.6 183.5 340 – 380 Production (attr.) koz 188.1 173.0 371.7 720 – 820 Gold sales (attr.) koz 180.2 173.4 373.9 Average realized gold price US$/oz $4,384 $3,182 $4,631 Cash costs (excl. royalties) $1,289 $1,340 $1,244 $1,100 – $1,250 Cash costs2 US$/oz $1,642 $1,556 $1,624 $1,425 – $1,575 AISC2,3 (excl. royalties) US$/oz $1,918 $1,825 $1,815 $1,675 – $1,825 AISC2,3 US$/oz $2,271 $2,041 $2,195 $2,000 – $2,150 Capex2,3 – sustaining US$M $96.3 $78.4 $184.9 $380 ( ± 5%) Capex2,3 – expansion US$M $22.0 $8.9 $34.8 $120 ( ± 5%) PRODUCTION ( attr .) & COSTS2 CAPITAL EXPENDITURES 0 500 1,000 1,500 2,000 2,500 0 50 100 150 200 250 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 $/oz '000 ounces Essakane Westwood Côté Cash costs AISC 0 60 120 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 $M Sustaining Expansion Côté Exp. (attr.)
Page 6
6 Q2 FINANCIAL HIGHLIGHTS 1. Net cash excludes lease liabilities of $90.5M and drawn letters of credit of $4.3M 2. As at June 30, 2026, excluding restricted cash of $69.0 M related to closure obligations at Essakane and Westwood * 5.75% senior notes mature on October 15, 2028 (Fitch: B+, Moody’s: B1, S&P: BB -) ** Lease balances includes Côté CAT leases at 70% and other leases at 100% LONG-TERM DEBT Jun 30 Jun 30 ($ millions) 2026 2025 Credit Facility $0.0 $250.0 5.75% senior notes* 450.0 450.0 Term Loan 0.0 400.0 Equipment loan $0.2 $1.9 Total debt $450.2 $1,101.9 Cash, equiv and investments (502.4) (223.8) Net (cash) debt (excl. leases, LOCs, etc.) ($52.2) $876.2 Leases** 90.5 129.5 Letters of credit 4.3 8.3 Net debt $42.6 $1,014.9 Cash ST Investments Available Credit Facility $1.35B TOTAL LIQUIDITY C a s h : $ 5 0 1 . 4 M A v a i l a b l e C r e d i t F a c i l i t y : $ 8 4 5 . 7 M $501.4 - $21.0 - $74.0 - $5.7 - $147.9 - $100.0 - $20.8 - $8.9 - $115.6 - $72.4 +$74.6 +$442.9 $550.2 Cash @ June 30, 2026 Other financing, FX Dividends paid to BF Interest expense NCIB buyback Net Credit Facility Investing activities (other) Borrowing costs Capital expenditures Δ W/C & stockpiles, ARO, etc Taxes paid Operating activities (before WC) Cash @ Mar 31, 2026 Q2 2026 CASH FLOW RECONCILIATION OperatingInvestingFinancial
Page 7
7 Q2 FINANCIAL HIGHLIGHTS FINANCIAL HIGHLIGHTS (In $ millions, unless otherwise stated) Q2 2026 Q2 2025 YTD 2026 Revenues $856.9 $580.9 $1,887.0 Gross profit $415.1 $198.8 $985.8 EBITDA 1 $495.3 $283.8 $1,152.3 Adj. EBITDA 1 $507.3 $276.4 $1,173.6 Net earnings $230.5 $78.7 $610.2 Adj. net earnings 1 $241.6 $77.3 $632.7 Adj. EPS – $/ sh equity 1 $0.42 $0.13 $1.09 Net cash operating activities (ex - WC) 1 $442.9 $127.3 $1,072.4 Net cash operating activities $445.1 $85.8 $1,015.0 Mine - site free cash flow 1 $368.9 $140.5 $893.5 1. This is a non-GAAP financial measure. Refer to “Non-GAAP Financial Measures” on slide #3. 2. AISC Margin = Realized Gold Price - AISC ADJ. EBITDA1 MINE-SITE FCF1 ADJ. EPS1 AISC Margin2 CASH FLOW & BALANCE SHEET • Mine-site free cash flow of $ 368.9M (up 163% y/y) | YTD: $893.5 M • De-levering ongoing with net cash1 of $52.2 M BUYBACK PROGRAM • 21.5M shares repurchased for $407.9M YTD through June 30, 2026 • NCIB authorizes purchases of up to 57.0M shares, representing ~10% of public float LIQUIDITY (as at June 30, 2026) • Cash and equivalents² of $501.4M and total liquidity of $1.35B • Credit Facility fully repaid and undrawn, with $845.7M available • $171.0M of cash held by Essakane, compared with $281.9M at March 31, 2026 ESSAKANE DIVIDEND • IAG’s $680.7M net portion of the ~$855M dividend has been fully repatriated • $197.1M received from Essakane in Q2, bringing YTD repatriation to $409.8M • Essakane declared a new ~$500M dividend in June 2026, with IAG’s expected net portion of ~$400M 0 250 500 750 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 $ million adj. EBITDA 0 175 350 525 700 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 $ million Mine-site FCF 0.00 0.25 0.50 0.75 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 $/share adj EPS 0 1,000 2,000 3,000 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 $/oz AISC Margin
Page 8
OPERATIONS
Page 9
1. This is a non-GAAP financial measure. Refer to “Non-GAAP Financial Measures” on slide #3. 2. Cash cost and AISC guidance assumed a gold price of $4,000/oz (100% basis, unless otherwise stated) Q2 2026 Q2 2025 YTD 2026 2026 Guidance Ore mined kt 3,072 3,170 6,625 Grade mined g/t 0.86 0.95 0.93 Material mined – total kt 11,736 11,808 21,062 ~48,000 Ore milled kt 2,873 2,930 5,214 ~12,000 Head grade g/t 1.12 1.1 1.1 1.05 – 1.15 Recovery % 93% 93% 93% Production – 100% koz 96.2 96.2 170.9 390 – 440 Production – attr . koz 67.3 67.0 119.6 270 – 310 Cash costs (excl. royalties)1 $/oz $1,245 $997 $1,301 $900 – 1,050 Cash costs1, 2 $/oz $1,554 $1,219 $1,622 $1,200 – 1,350 All-in sustaining costs1, 2 $/oz $2,082 $1,611 $2,094 $1,775 – 1,925 Sustaining capital1 – attr. $M $36.6 $27.2 $55.4 $160 (±5%) Expansion capital1 – attr. $M $18.0 $6.6 $27.1 $85 (±5%) Q2 OVERVIEW • Production (70%): 67,300 oz | YTD: 119,600 oz (100%): 96,200 oz | YTD: 170,900 oz MINING • Total tonnes mined of 11.7M tonnes and total ore tonnes of 3.1M tonnes • Avg grade mined of 0.86 g/t • Strip ratio of 2.8:1 as pushback activity opened a new bench for H2 • Mining rates expected to increase in H2 as equipment is redeployed following phase-out of contractor crushing MILLING • Mill throughput of 2.9M tonnes • New primary conveyor belt successfully installed in May • Plant ramped to nameplate capacity, processing over 1.0 M tonnes in June • Contracted aggregate crushing discontinued by end of June • Head grades of 1.12 g/t • Recoveries of 93% with good reconciliation between reserve model and mill feed PRODUCTION & COSTS 1 THROUGHPUT & GRADE MINING & STRIP RATIO CAPITAL EXPENDITURES CÔTÉ GOLD (70% Interest ) 9 0.0 1.0 2.0 3.0 0 4 8 12 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 Strip ratio M tonnes Ore mined Waste mined Strip ratio 0.0 0.5 1.0 1.5 0 1 2 3 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 g/t M tonnes Throughput Head grade 0 20 40 60 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 $ million Sustaining Expansion 0 800 1600 2400 0 30 60 90 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 $/oz '000 ounces Production, attr. Cash costs AISC
Page 10
10 CÔTÉ GOLD (70% Interest ) Q2 COSTS • Cash costs1 (excluding royalties) of $1,245/oz, cash costs1 of $1,554/oz & AISC1 of $2,082/oz in Q2 • Mining costs averaged $4.49/t, further improvements expected with additional fleet availability and expanded operating area in pit to improve efficiencies • Milling costs averaged $20.85/t, cost improvement in June at $17.72/t following conveyor replacement, improved volumes and maintenance cycles expected to be realized before end of year • Royalties of $309/oz represents ~20% of Q2 cash costs • Oil sensitivity: $10/bbl = $7/oz in costs 1. This is a non-GAAP financial measure. Refer to “Non-GAAP Financial Measures” on slide #3 2. Operating Unit Costs: Mining cost = per tonne of material mined; Processing and G&A cost = per tonne of ore processed OPERATING UNIT COSTS 2 TONNES 0 5 10 15 20 25 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 $/t OP Mining cost (/t mined) Processing cost (/t milled) G&A cost (/t milled) 0.0 1.0 2.0 3.0 4.0 6 8 10 12 14 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 T/P (Mt) Mining (Mt) Total Mined Throughput
Page 11
11 CÔTÉ EXPANSION UPDATED MINE PLAN • Updated technical report and mine plan in Q4 2026 to outline longer mine life and increased reserves at an increased capacity • Based on updated Mineral Resources of 20.3 Moz M&I and 3.5 Moz Inferred (June 2026) • Near-term path toward 40,000+ tpd through targeted debottlenecking of the existing plant and targeted plant improvements: • 2nd dry crushing line, 3rd vertimill, optimized refeed systems and increased fine ore dome capacity and leach tanks EXPANSION PRIORITIES • The scale and opportunity of Côté’s long-term potential continues to increase • Trade-off studies advancing on a further material expansion of the operation • Size and quality of the consolidated Côté-Gosselin resource base suggests potential to support a larger operation over the long term • Additional technical, infrastructure and permitting studies are ongoing to determine the optimal scale, configuration and development path to maximize the long-term value of the operation MINERAL RESERVE & RESOURCE ESTIMATE Tonnes Grade Ounces (Resources effective Mar 31, 2026; Reserves effective Dec 31, 2025) (000’s) (g/t) (000’s) Proven & Probable: Côté 217,167 1.01 7,041 Measured + Indicated (incl. reserves): Côté 518,000 0.77 12,760 Measured + Indicated2: Gosselin 1 320,000 0.74 7,580 Total Measured + Indicated 2 (incl. reserves) 838,000 0.75 20,340 Total Inferred: Côté + Gosselin 177,100 0.61 3,480
Page 12
1. This is a non-GAAP financial measure. Refer to “Non-GAAP Financial Measures” on slide #3. (100% basis, unless otherwise stated) Q2 2026 Q2 2025 YTD 2026 2026 Guidance Ore mined – UG kt 104 98 210 Ore mined – OP kt 109 315 169 Ore milled kt 287 323 590 ~1,200 Head grade – UG g/t 8.40 7.38 9.1 Head grade – OP g/t 0.90 1.16 1.00 Head grade – total g/t 3.75 3.07 3.90 ~3.50 Recovery % 94% 92% 93% Production – 100% koz 32.4 29.4 68.6 110 – 130 Cash costs1 $/oz $1,606 $1,562 $1,417 $1,500 – 1,650 All-in sustaining costs1 $/oz $2,163 $2,140 $1,921 $1,950 – 2,100 Sustaining capital expenditures1 $M $16.7 $16.0 $33.3 $55 (±5%) Expansion capital expenditures1 $M $3.6 — $6.7 $30 (±5%) Q2 OVERVIEW • Production of 32,400 oz | YTD: 68,600 oz • Mine-site free cash flow of $56.5 M | YTD: $166.5 M • Updated technical report expected in H2 2027, expected to outline further mine life extension and potential underground bulk-mining in the eastern zone MINING • Ore mined from underground mining of 104,000 tonnes • Underground head grade of 8.40 g/t • Improved stope mucking procedures and hoisting performance • Open pit mining of 109,000 tonnes as activity focused on waste stripping and transitioned to a new contract miner MILLING • Mill throughput of 287,000 tonnes, reflecting a planned Q2 shutdown • Blended head grade of 3.75 g/t • Average recoveries of 94% PRODUCTION & COSTS 1 THROUGHPUT & GRADE MINING RATES CAPITAL EXPENDITURES WESTWOOD COMPLEX 12 0 90 180 270 360 450 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 '000 tonnes UG ore mined OP ore mined 0.0 2.5 5.0 7.5 10.0 0 100 200 300 400 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 g/t '000 tonnes Throughput Head grade, UG Head grade, OP 0 5 10 15 20 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 $ million Sustaining Expansion 0 700 1400 2100 2800 0 10 20 30 40 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 $/oz '000 ounces Production Cash costs AISC
Page 13
13 WESTWOOD COMPLEX COSTS • Cash costs1 of $1,606/oz & AISC1 of $2,163/oz in Q2 • Underground mining costs were $314/t, reflecting increased labour and maintenance activity • Milling costs of $37.02/t reflecting portable crushing for supplemental Grand Duc feed and planned mill shutdown • Expansion capital of $30 million expected to be spent in 2026 supporting development and evaluation of bulk-mining opportunities underground in eastern corridor • Updated technical report expected in H2 2027 and improved costs OPERATING UNIT COSTS 2 TONNES UG 1. This is a non-GAAP financial measure. Refer to “Non-GAAP Financial Measures” on slide #3 2. Operating Unit Costs: Mining cost = per tonne of material mined; Processing and G&A cost = per tonne of ore processed 3. Resources are inclusive of Mineral Reserves. Refer to Resource Statements and notes in the Appendix MINERAL RESERVE & RESOURCE ESTIMATE 3 Tonnes Grade Ounces (as of Dec 31, 2025) (000’s) (g/t) (000’s) Proven & Probable (Westwood) 3,462 9.72 1,082 Proven & Probable (Grand Duc) 1,896 1.10 67 Total P&P 5,358 6.67 1,148 Measured + Indicated (incl. reserves) 11,943 6.24 2,397 Inferred 4,507 10.46 1,515 WEST CORRIDOR CENTRAL CORRIDOR EAST CORRIDOR Measured Indicated Inferred Mined out stopes Mine plan (2026-2030) 0 100 200 300 400 0 5 10 15 20 25 30 35 40 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 $/t $/t OP Mining cost Processing cost G&A cost UG Mining cost 40 60 80 100 120 0 100 200 300 400 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 UG ore mined (t) (t) Throughput OP ore mined UG ore mined
Page 14
(100% basis, unless otherwise stated) Q2 2026 Q2 2025 YTD 2026 2026 Guidance Ore mined Mt 2.5 2.2 4.7 Material mined – total Mt 12.0 10.7 23.9 43 – 46 Strip ratio w:o 3.8 4.0 4.1 3.0 – 4.0 Ore milled Mt 3.2 3.1 6.4 ~13 Head grade g/t 1.13 0.93 1.19 ~1.10 Recovery % 88% 91% 89% Production – 100% koz 104 86.1 215.9 400 – 440 Production – attributable koz 88.4 76.6 183.5 340 – 380 Cash costs (excl. royalties)1 $/oz $1,214 $1,565 $1,143 $1,150 – 1,300 Cash costs1,2 $/oz $1,724 $1,855 $1,700 $1,600 – 1,750 All-in sustaining costs1,2 $/oz $2,201 $2,224 $2,159 $2,000 – 2,150 Sustaining capital expenditures1 $M $43.0 $35.0 $96.2 $165 (±5%) Expansion capital expenditures1 $M $0.4 $2.3 $1.0 $5 (±5%) Q2 OVERVIEW • Production ( attr .) of 88,400 oz | YTD: 183,500 oz • Mine-site free cash flow of $162.1 M | YTD: $464.8 M • Security situation in Burkina Faso and immediate region continues to apply pressure to local supply chains and the cost of business • Updated technical report expected in H1 2027, evaluating a potential mine-life extension to 2035 MINING • Total tonnes mined of 12M tonnes including ore tonnes of 2.5M tonnes • Average grade of ore mined was 1.01 g/t • Increased waste stripping due to initial pushbacks of pit expansion in adjacent Lao pit MILLING • Mill throughput of 3.2M tonnes • Head grades of 1.13 g/t • Average recoveries of 88%, reflecting more complex ore from deeper Phase 7 benches PRODUCTION & COSTS 1 THROUGHPUT & GRADE MINING & STRIP RATIO CAPITAL EXPENDITURES ESSAKANE (90% interest prior to Q2 2025; 85% thereafter) 14 1. This is a non-GAAP financial measure. Refer to “Non-GAAP Financial Measures” on slide #3. 2. Cash cost and AISC guidance assumed a gold price of $4,000/oz 0.0 2.0 4.0 6.0 0 4 8 12 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 Strip ratio M tonnes Ore mined Waste mined Strip ratio 0.0 0.4 0.8 1.2 1.6 0 1 2 3 4 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 g/t M tonnes Throughput Mill feed grade 0 20 40 60 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 $ million Sustaining Expansion 0 800 1600 2400 0 40 80 120 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 $/oz '000 ounces Production, attr. Cash costs AISC
Page 15
15 ESSAKANE (90% interest prior to Q2 2025; 85% thereafter) COSTS • Cash costs1 (excl. royalties) of $1,214/oz, Cash costs1 of $1,724/oz & AISC1 of $2,201/oz in Q2 • Open pit mining costs of $4.79/t, benefiting from free digging of saprolite benches in the Lao pit, reducing explosives and energy consumption • Royalties accounted for $510/oz in Q2, representing 30% of cash costs, due to elevated gold price and royalty structure • Oil sensitivity: $10/bbl = $20/oz in costs OPERATING UNIT COSTS 2 TONNES 1. This is a non-GAAP financial measure. Refer to “Non-GAAP Financial Measures” on slide #3 2. Operating Unit Costs: OP Mining cost = per tonne of material mined; Processing and G&A cost = per tonne of ore processed 3. Resources are inclusive of Mineral Reserves. Refer to Resource Statements and notes in the Appendix MINERAL RESERVE & RESOURCE ESTIMATE 3 Category Tonnes Grade Ounces (as of Dec 31, 2025) (000’s) (g/t) (000’s) Reserves Proven (stockpile) 22,178 0.64 457 Probable (open pit) 34,903 1.09 1,219 Resources Measured + Indicated (incl. reserves) 149,995 0.91 4,412 Inferred 24,195 1.10 853 0 5 10 15 20 25 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 $/t OP Mining cost Processing cost G&A cost 2.5 3.0 3.5 8 10 12 14 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 T/P (Mt) Mining (Mt) Total tonnes mined Throughput
Page 16
EXPLORATION
Page 17
17 NELLIGAN MINING COMPLEX 1. On Dec. 19, 2025 and Dec. 22, 2025, IAMGOLD closed the previously announced agreements to acquire Northern Superior Resources and Mines d’Or Orbec 2. As at December 31, 2025, the Company opted to exclude the mineral resources previously associated with the Croteau property in its year end update 3. Resources are inclusive of Mineral Reserves. Refer to Resource Statements and notes in the Appendix 4. IAG made C$3.5M payment to acquire SOQUEM 25% interest in Philibert ahead of March 2026 deadline to bring ownership to 100% Croteau Est 100%, Au - exploration Lac Surprise 100%, Au-Ag - exploration - along strike of Nelligan Nelligan 100%, Au, OP Ind: 3.7 Moz @ 0.95 g/t Inf: 4.6 Moz @ 0.96 g/t Monster Lake 100%, Au, U/G Ind: 0.1 Moz @ 13.04 g/t Inf: 0.5 Moz @ 14.83 g/t Philibert4 100%, Au, OP Ind: 0.28 Moz @ 1.10 g/t Inf: 1.71 Moz @ 1.10 g/t Chevrier 100%, Au, OP target Ind: 0.26 Moz @ 1.26 g/t Inf: 0.65 Moz @ 1.30 g/t IAMGOLD Muus 100%, Au - exploration CREATING THE NEXT GREAT CANADIAN MINING CAMP • IAG completed acquisitions of Northern Superior and Orbec in December 20251 • Nelligan Mining Complex total combined Mineral Resources2,3: 4.3 Moz Indicated (0.99 g/t Au) and 7.5 Moz (1.08 g/t Au) inferred • Among the largest pre-production gold projects in Canada • All primary deposits within 17km radius supports a vision of a central processing facility being fed from multiple ore sources within the region • Preliminary Economic Assessment in mid-2027 • Drill program in 2026: • Nelligan: 24,000 m, with 15,100 m completed • Monster Lake: 15,000 m, with 11,100 m completed • Philibert: 30,000 m, with 19,300 m completed • Other Exploration Targets: Muus, Lac Surprise, Anik (75%), Lac Bossé • Muus property is at intersection of two major mineralized structural breaks hosting Nelligan and Philibert • Total land position of 134,018 hectares positions IAMGOLD as largest landholder in the region
Page 18
Q&A
Page 19
19 GOLD MINERAL RESERVES 1,2,3 – 100% BASIS As of December 31, 2025 PROVEN PROBABLE P+P MINERAL RESERVES DEPOSIT Type* Location Ownership Tonnes (000’s) Grade (g/t) Ounces (000’s) Tonnes (000’s) Grade (g/t) Ounces (000’s) Tonnes (000’s) Grade (g/t) Ounces (000’s) Côté Gold3 OP Canada 70% 116,055 1.05 3,902 101,112 0.97 3,139 217,167 1.01 7,041 Westwood4 UG + OP Canada 100% 1,555 6.63 331 3,803 6.68 817 5,358 6.67 1,148 Essakane5 OP Burkina Faso 85% 22,178 0.64 457 34,903 1.09 1,219 57,081 0.91 1,676 TOTAL RESERVES1 139,788 1.04 4,690 139,818 1.15 5,175 279,606 1.10 9,865 * OP = Open Pit; UG = Underground 1 Figures may not add due to rounding. 2 2025 Mineral Reserves estimated as of December 31, 2025, using a gold price of $2,000/oz for Westwood (including Grand Duc) and Essakane; and $1,700/oz for Côté Gold. 3 Côté Gold Mineral Reserves as of December 31, 2025 were estimated using a 0.46 g/t Au cut-off grade, up from 0.35 g/t Au at year end 2024. 4 Westwood (underground) Mineral Reserves as of December 31, 2025 were estimated using a 6.40 g/t Au cut-off grade, down from 6.82 g/t at year end 2024; Grand Duc Mineral Reserves as of December 31, 2025 were estimated using a 0.59 g/t cut-off grade, up from 0.54 g/t at year end 2024. 5 Essakane Mineral Reserves as of December 31, 2025 were estimated using a cut-off grade range of 0.31–0.44 g/t Au, down from of 0.39–0.55 g/t Au at year end 2024.
Page 20
20 MEASURED INDICATED MEASURED + INDICATED INFERRED DEPOSIT Type* Location Ownership Tonnes (000’s) Grade (g/t) Ounces (000’s) Tonnes (000’s) Grade (g/t) Ounces (000’s) Tonnes (000’s) Grade (g/t) Ounces (000’s) Tonnes (000’s) Grade (g/t) Ounces (000’s) Côté Gold (incl. Gosselin)1,5 OP Canada 70% 164,364 0.89 4712 673,623 0.72 15,629 837,987 0.75 20,341 177,128 0.61 3,479 Westwood UG+OP Canada 100% 1,619 7.21 375 10,324 6.09 2,022 11,943 6.24 2,397 4,507 10.46 1,515 Essakane OP Burkina 85% 38,312 0.52 640 111,683 1.05 3,772 149,995 0.91 4,412 24,195 1.1 853Faso Gossey OP Burkina 85% 14,795 0.75 355 14,795 0.75 355 2,688 0.85 74Faso Nelligan OP Canada 100% 122,000 0.95 3,700 122,000 0.95 3,700 151,000 0.96 4,647 Monster Lake UG Canada 100% 243 13.04 102 243 13.04 102 1,046 14.83 499 Philibert7 OP Canada 100% 7,884 1.10 279 7,884 1.10 279 48,465 1.10 1,709 Chevrier7 OP Canada 100% 6,400 1.26 260 6,400 1.26 260 15,660 1.30 652 Nelligan Complex Total Canada 100% 136,527 0.99 4,341 136,527 0.99 4,341 216,171 1.08 7,507 Diakha-Siribaya6 OP Mali 90% 27,937 1.48 1,325 27,937 1.48 1,325 8,468 1.53 417 TOTAL RESOURCES1 204,295 0.87 5,727 974,889 0.88 27,444 1,179,184 0.87 33,171 433,157 0.99 13,845 GOLD MINERAL RESOURCES 1,2,3,4,5 – 100% BASIS * OP = Open Pit; UG = Underground 1 Mineral Resources as of December 31, 2025, except at Côté Gold which is as of March 31, 2026 2 Figures may not add due to rounding. 3 See “Cautionary Note to U.S. Investors Regarding Disclosure of Mineral Reserves and Mineral Resources Estimates”. 4 Mineral Resources estimated as of December 31, 2025, using a gold price of: $2,500 per ounce for Essakane, Westwood (incl. Grand Duc), Nelligan, Monster Lake and Gossey; $1,800/oz for Chevrier, $1,747/oz for Philibert. 5 Mineral Resources estimated as of March 31, 2026, using a gold price of $2,500 per ounce for Côté Gold 6 Diakha-Siribaya Mineral Resources are unchanged from the prior year, with an unchanged gold price of $1,500 per ounce. The definitive agreement to sell the Diakha-Siribaya Gold Project in Mali to Managem S.A. expired on December 31, 2024, and was not extended. The Company is pursuing alternative options for the sale of this asset. 7 Philibert and Chevrier were acquired with the closing of the Northern Superior transaction in December 2025. The prior Mineral Resources estimates for these assets are based on data as reported in the respective NI 43- 101 Technical Reports. Philibert and Chevrier Mineral Resources are estimated as of December 31, 2025, using a gold price of $1,747 and $1,800 per ounce respectively.
Page 21
GRAEME JENNINGS, VP, BUSINESS DEVELOPMENT & INVESTOR RELATIONS 416 - 388 - 6883 TSX: IMG | NYSE: IAG | www.iamgold.com 21