IAMGOLD Corporation announced that it has entered into a forward gold sale arrangement ("2025 Second Quarter 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 Second Quarter 2024 by approximately $73.6 million assuming current gold prices. Under the 2025 Second Quarter Prepay Arrangement, the Company will receive a prepayment amount of $59.4 million during Second Quarter 2024 in exchange for delivering 31,250 ounces in the second quarter of 2025.

The Second Quarter Deferral Prepay Arrangement allows for the deferral of 6,250 ounces that were previously scheduled for delivery in Second Quarter 2024, under the existing gold prepay arrangements entered into in 2022 (the "2022 Prepay Arrangements"), to now be delivered in Second Quarter 2025. This deferral allows for the Company to sell the equivalent ounces in Second Quarter 2024 which equates to approximately $14.2 million at current spot prices. The combined Arrangements effectively transition the cashflow impact of the prior obligation, as defined in the 2022 Prepay Arrangements, to deliver 37,500 ounces in the second quarter 2024 to the second quarter of 2025.

The Arrangements are supported by the Company's syndicate of banks under its revolving credit facility. Key terms of the 2025 Second Quarter Prepay Arrangement are as follows: Funding of $59.4 million is provided to IAMGOLD at an effective gold price of $1,900 per ounce (net of financing costs) and paid equally in three monthly increments in the second quarter of 2024 for physical delivery of 31,250 ounces of gold over the period of April 2025 to June 2025. The arrangement has a collar range of $2,100 to $2,925 and IAMGOLD will receive a cash payment based on the market price, if it is within the collar range in the month of delivery.

Delivery can be made from the production of gold from any of IAMGOLD's operating mines. Key terms of the Second Quarter Deferral Prepay Arrangement are as follows: Deferral of the delivery of 6,250 ounces from Second Quarter 2024 under the 2022 Prepay Arrangements to Second Quarter 2025. The ounces that are deferred were previously funded at a forward price of $1,753 per ounce.

The Company will make a cash payment of $0.6 million in total at the time of delivery in Second Quarter 2025 in consideration for the deferral. Delivery can be made from the production of gold from any of IAMGOLD's operating mines.