IAMGOLD Reports First Quarter 2026 Results

Press Release

Toronto, Ontario–(- May 5, 2026) – IAMGOLD Corporation (NYSE: IAG) (TSX: IMG) (“IAMGOLD” or the “Company”) today reported its financial and operating results for the first quarter ended March 31, 2026.

“IAMGOLD delivered a strong start to 2026, with attributable gold production of 183,600 ounces in the first quarter positioning the Company well to achieve its full-year guidance of 720,000 to 820,000 ounces” said Renaud Adams, President and Chief Executive Officer of IAMGOLD. “The quarter was marked by robust financial results, including revenues of over $1 billion, adjusted EBITDA of $666 million, and mine-site free cash flow of $525 million, reflecting the significant leverage our business has to the current gold price environment. These results allowed for the Company to return $260 million to our shareholders through our share buyback program and repay $100 million in debt.”

“Westwood and Essakane both delivered strong performances, with quarterly production improvements year-over-year, driven by higher grades and improved operating efficiency across both sites. At Côté Gold, throughput in the quarter was limited by unplanned conveyor downtime as increased crushed ore volumes from the additional secondary cone crusher accelerated prior wear and splits on the belt. Performance improved in April following repairs as we control throughput ahead of the upcoming belt replacement in May that will allow for operations at full capacity. We remain confident in our full-year attributable production guidance for Côté of 270,000 to 310,000 ounces. Production and costs at the mine are expected to improve progressively through 2026 as throughput increases, the temporary aggregate crushing circuit is phased out, the pit pushback advances, and as we continue to optimize the operation and lengthen maintenance cycles.”

“Looking ahead, we have significant catalysts across all of our assets. An updated mineral resource estimate for Côté is planned for the second quarter, followed by a technical report that is on track by year-end and is expected to outline a larger-scale mine incorporating both the Côté and Gosselin zones. Technical reports are also planned for Westwood, Essakane, and our Nelligan Mining Complex – which combined are expected to illustrate meaningful potential for production growth, mine life extension and value accretion. Combined with approximately $1.1 billion in available liquidity, an increasing production profile, and our continued execution on share buybacks and debt reduction, we are well-positioned to deliver value for our shareholders in 2026 and beyond.”

HIGHLIGHTS:

Operating and Financial

• Attributable gold production was 183,600 ounces in the first quarter, positioning the Company well to achieve its 2026 production guidance of 720,000 to 820,000 ounces. Production is expected to increase through the year as Côté continues to debottleneck operations and incorporates operating improvements:
  • Côté produced 52,300 attributable ounces (74,700 ounces | 100%);
  • Westwood produced 36,200 ounces; and
  • Essakane produced 95,100 attributable ounces (111,900 ounces | 100%).
• Revenues in the first quarter totaled $1,030.1 million from sales of 211,500 ounces at an average realized gold price¹ of $4,859 per ounce.
• Cost of sales per ounce sold was $1,619 for the first quarter.
• Cash cost¹ per ounce sold, excluding royalties, was $1,201 for the first quarter.
• Cash cost¹ per ounce sold, including royalties, was $1,608 for the first quarter.
• AISC¹ per ounce sold was $2,124 for the first quarter.
• Net earnings and adjusted net earnings attributable to equity holders¹ was $379.7 million and $391.1 million for the first quarter, respectively.
• Net earnings and adjusted net earnings per share attributable to equity holders¹ of $0.65 and $0.67 for the first quarter, respectively.
• Net cash from operating activities was $569.9 million for the first quarter. Net cash from operating activities, before movements in working capital and non-current ore stockpiles¹, was $629.5 million for the first quarter.
• Earnings before interest, income taxes, depreciation and amortization (“EBITDA”)¹ was $657.0 million, and Adjusted EBITDA¹ was $666.3 million for the first quarter.
• Mine-site free cash flow¹ of $524.6 million for the first quarter.
• The Company has available liquidity¹ of $1,096.9 million as at March 31, 2026, an increase of $228.3 million compared to the prior period. Cash and cash equivalents was $550.2 million and the available balance of the revolving credit facility (“Credit Facility”) was $545.7 million. Net cash, excluding leases and letters of credit¹, was $0.9 million, an improvement of $229.0 million during the quarter.
• In health and safety, for the quarter ended March 31, 2026, the Company reported a total recordable injuries frequency rate (“TRIFR”) of 0.44, an improved performance from the prior year period. IAMGOLD is continuing to advance its critical risk management and visible leadership to improve safety and reduce high-potential incidents.

Corporate

• Significant free cash flow generated in the first quarter allowed the Company to: increase its cash and cash equivalents balance by $128.3 million, repay $100 million of the Credit Facility, and purchase $260 million of IAMGOLD shares (12.9 million shares) as part of the share buyback program. Subsequent to quarter end, the Company has purchased an additional 2.1 million shares for $40 million and has purchased 18.0 million shares for $350 million since the inception of the program in December 2025 and paid down the remaining balance of $100 million of its Credit Facility. The Company intends to continue to use cash flow from Essakane to repurchase shares under its share buyback program as the cash is generated and repatriated from Essakane over the course of 2026.
• $212.7 million of cash was repatriated from Essakane in the first quarter, using the structure that enables payments to be made at any time of the year based on the cash generated in excess of working capital requirements by Essakane.
• On March 25, 2026, Fitch affirmed the Company’s B+ credit rating and revised the outlook from Stable to Positive. Subsequent to quarter end, on April 9, 2026, the Company received a corporate credit rating upgrade by Moody’s Investors Service from B2 to B1 with a stable outlook.
• Subsequent to quarter end, on April 27, 2026, the Company released its 2025 Sustainability Report highlighting the Company’s progress and achievements across a range of Environmental, Social and Governance (“ESG”) practices.
• On May 4, 2026, the Company strengthened its executive team with the appointment of Ankit Shah as Chief Strategy Officer, bringing nearly two decades of progressive leadership in strategy and corporate development in the mining and advisory sectors.
• On May 5, 2026, at the Company’s Annual General Meeting, shareholders voted in favour of the election of the Company’s Board of Directors, including the appointment of new director Mr. Daniel Racine. Dr. Ann Masse and Ms. Audra Walsh did not stand for reelection and concluded their service on the Board. The Company thanks both Dr. Masse and Ms. Walsh for their years of dedicated service, passion and many contributions to IAMGOLD.

QUARTERLY REVIEW

For more details and the Company’s overall outlook for 2026, see “Outlook”, and for individual mines performance, see “Operations”. The following table summarizes certain operating and financial results for the three months ended March 31, 2026 (Q1 2026) and March 31, 2025 (Q1 2025) and certain measures of the Company’s financial position as at December 31, 2025.

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