All monetary amounts are expressed in U.S. dollars, unless otherwise indicated.

Toronto, Ontario--(Newsfile Corp. - April 4, 2024) - IAMGOLD Corporation (NYSE: IAG) (TSX: IMG) ("IAMGOLD" or the "Company") announced today that it has entered into a forward gold sale arrangement ("2025 Q2 Prepay Arrangement") and a partial amendment to one of its existing gold prepay arrangements ("Q2 Deferral Prepay Arrangement", together the "Arrangements"). The net result of these Arrangements is the effective transition of current gold delivery obligations totaling 37,500 ounces out of the second quarter of 2024 into the same period in the following year, increasing cashflow in Q2 2024 by approximately $73.6 million assuming current gold prices.

"The deferral of the prior prepay arrangement for gold deliveries out of the second quarter provides additional liquidity during a period when our Côté Gold mine is taking its first steps toward commercial production, following a successful start of production and commissioning of all major equipment," said Renaud Adams, President and CEO of IAMGOLD. "In the current strong gold price environment, we saw an opportunity to further strengthen our balance sheet against other risks, including potential further delays in the closing of the two remaining transactions for the West Africa exploration assets, which are still expected to close this year. Initial ramp up activities at Côté Gold are progressing well, with a high degree of confidence in achieving commercial production in the third quarter towards our goal of Côté operations reaching 90% throughput exiting 2024."

Maarten Theunissen, Chief Financial Officer of IAMGOLD commented: "The deferral arrangement allows us sell 6,250 ounces in the current gold price environment by deferring the physical delivery into the arrangement to the second quarter of 2025. The prepay allows us to realize value on the sale of 31,250 gold ounces at a floor price of $2,100 per ounce while maintaining upside exposure on these ounces up to a gold price of $2,925 per ounce. Further, the arrangements were very competitive on a cost of capital basis versus drawing on the credit facility during the ongoing pre-commercial ramp up of operations at Côté."
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