Mr. Renaud Adams reports

IAMGOLD ANNOUNCES GOLD PREPAY ARRANGEMENTS TO DEFER GOLD DELIVERIES FROM THE FIRST QUARTER OF 2024

Iamgold Corp. has entered into a forward gold sale arrangement (2025 Q1 prepay arrangement) and a partial amendment to one of its existing gold prepay arrangements (deferral prepay arrangement). The net result of these Arrangements is the effective transition of current gold delivery obligations out of the first quarter of 2024 into the following year, increasing cashflow in Q1 2024 by approximately $72.5 million assuming current gold prices. Subheadline: All monetary amounts are expressed in U.S. dollars, unless otherwise indicated.

"These arrangements take advantage of positive market rates while ensuring the prudent management of IAMGOLD's balance sheet during a key juncture for the Company," said Renaud Adams, President and CEO of IAMGOLD. "The Cote Gold project is advancing rapidly towards initial production in March 2024 followed by the ramp up of operations through the year. Under the terms of the prior prepay arrangements, IAMGOLD was contracted to deliver 37,500 ounces of gold in the first quarter of 2024 at a time when Cote Gold is starting up, thereby weighing the deliveries heavily on Essakane and Westwood. Pushing these deliveries into the first quarter of 2025 improves the flexibility for the Company for a reasonable cost at favourable forward gold prices. Our primary goal and focus continues to be on managing the steady ramp up of Cote Gold towards its design capacity by the end of the year - at which point the mine will be the third largest gold mine in Canada."

Under the 2025 Q1 Prepay Arrangement, the Company will receive a prepayment amount of $59.9 million during Q1 2024 in exchange for delivering 31,250 ounces in the first quarter of 2025. The Deferral Prepay Arrangement allows for the deferral of 6,250 ounces that were previously scheduled for delivery in Q1 2024 under the existing gold prepay arrangements entered into in 2022 (the "2022 Prepay Arrangements") to now be delivered in Q1 2025. The Arrangements are supported by the Company's syndicate of banks under its revolving credit facility.

Key terms of the 2025 Q1 Prepay Arrangement are as follows:Funding of $59.9 million is provided to IAMGOLD at an effective gold price of $1,916 per ounce and paid equally in three monthly increments in the first quarter of 2024 for physical delivery of 31,250 ounces of gold over the period of January 2025 to March 2025.Delivery can be made from the production of gold from any of IAMGOLD's operating mines.

Key terms of the Deferral Prepay Arrangement are as follows:Deferral of the delivery of 6,250 ounces from Q1 2024 under the 2022 Prepay Arrangements to Q1 2025. The ounces that are deferred were previously funded at a price of $1,753 per ounce.The Company will make a cash payment of $0.5 million in total at the time of delivery in Q1 2024 in consideration for the deferral. Delivery can be made from the production of gold from any of IAMGOLD's operating mines.

During 2021, the Company entered the 2022 Prepay Arrangements in respect of 150,000 gold ounces. These arrangements had an average forward contract pre-funded price of $1,753 per ounce on 50,000 gold ounces and a collar range of $1,700 to $2,100 per ounce on the remaining 100,000 gold ounces. The Company received $236.0 million in 2022 and, prior to the Deferral Prepay Arrangement, was to physically deliver the 150,000 ounces in equal monthly increments of 12,500 ounces over the course of 2024.

About IAMGOLD

IAMGOLD is an intermediate gold producer and developer based in Canada with operating mines in North America and West Africa. The Company is building the large-scale, long life Cote Gold project in Canada in partnership with Sumitomo Metal Mining Co. Ltd., which is expected to commence production in early 2024. In addition, the Company has an established portfolio of early stage and advanced exploration projects within high potential mining districts in Canada. IAMGOLD employs approximately 3,600 people and is committed to maintaining its culture of accountable mining through high standards of Environmental, Social and Governance ("ESG") practices, including its commitment to Zero Harm(TM), in every aspect of its business. IAMGOLD is listed on the New York Stock Exchange (NYSE: IAG) and the Toronto Stock Exchange (TSX: IMG) and is one of the companies on the Jantzi Social Index ("JSI"), a socially screened market capitalization-weighted consisting of companies which pass a set of broadly based environmental, social and governance rating criteria.

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