Meeting Information Date: Tuesday, May 5, 2026 Time: 2:30 p.m. (ET) Place: The Corporation will hold the Meeting in a virtual only format, which will be conducted via live audio webcast at: https://meetnow.global/M926LRS Accessing the Meeting: Registered Shareholders must use the 15-digit Control Number located on the form of proxy. Duly appointed proxyholders must use the 4-character Invite Code provided by Computershare Trust Company of Canada.		Telephone You will need to have your proxy form or Voting Instruction Form in hand. Dial the phone number listed on the form that you received and follow the voting prompts. Mail Complete your proxy form or Voting Instruction Form and return using the enclosed postage-paid envelope. Virtual-Only Meeting You must complete the steps described under the heading "General Proxy Information - Attending and Participating at the Meeting" to attend and vote at the Meeting, which will be conducted via live audio webcast at: https://meetnow.global/M926LRS Accessing the Meeting Registered Shareholders must use the 15-digit Control Number located on the form of proxy. Duly appointed proxyholders must use the 4-character Invite Code provided by Computershare Trust Company of Canada.
	HOW YOU CAN VOTE
Your vote is important. To ensure that your Common Shares will be represented and voted at the Meeting, please submit your vote as soon as possible by one of the following methods: Internet You will need to have your proxy form or Voting Instruction Form in hand. Go to the website listed on the form that you received and follow the instructions on the screen.

TABLE OF CONTENTS

MESSAGE FROM THE CHAIR OF THE BOARD

Dear Shareholders, On behalf of the Board of Directors (the "Board") of IAMGOLD Corporation ("IAMGOLD" or the "Corporation"), I am pleased to present this Management Information Circular ("Circular") in connection with our annual general meeting of shareholders ("AGM") on Tuesday, May 5, 2026, at 2:30 p.m. (ET). This Circular outlines the matters on which you will be asked to vote and provides important information regarding the Corporation's governance practices, Board oversight and approach to executive compensation. We encourage you to review the materials carefully and to exercise your right to vote. The AGM will be held in virtual format, conducted via live audio webcast, which allows for convenient access for shareholders to participate in voting and ask questions pertaining to the matters of the meeting in real time through the virtual meeting platform. The accompanying notice and Circular provides further details on how to participate in the meeting and provides contact information for myself, my fellow directors and the Corporation should you have further questions.

2025 in Review: A Year of Delivery and Momentum

2025 was a defining year as IAMGOLD continued to position itself as a leading, modern, mid-tier gold producer. Building on the commencement of production at Côté Gold in 2024, 2025 was defined by many achievements including: realizing nameplate production at Côté Gold with an emphasis on sustainable performance and reliability, maintaining steady contributions from Essakane and Westwood driving strong cash flow generation, and improving the capital structure through significant debt repayment and the commencement of returns to shareholders.

The Board's oversight during 2025 remained focused on the fundamentals that drive long-term value in our sector: safe and stable operations, cost and capital discipline, balance sheet strength, and principled governance. We believe the Corporation made meaningful progress in strengthening its operating foundation and accountability, positioning IAMGOLD for sustainable long term value creation.

Portfolio Strength and Strategic Focus

IAMGOLD's strategy is anchored in high-quality assets with long mine life and organic growth potential. The Corporation's operating base includes Côté Gold and Westwood in Canada and Essakane in Burkina Faso, with Côté Gold positioned as a cornerstone, long-life asset. At the end of the year, the Corporation further grew its organic growth pipeline with the consolidation of the Nelligan Mining Complex in Quebec, establishing it as among the largest pre-production projects in Canada.

In 2025, IAMGOLD achieved attributable gold production of approximately 765,900 ounces, meeting the midpoint of guidance and a 15% improvement year over year. This performance was driven by a strong second half with operations delivering record quarterly production in the fourth quarter, as Cote Gold completed its first full year of production, supported by stable operations and improved grades at Essakane and Westwood.

Côté Gold remains central to IAMGOLD's long-term value proposition. Operationally, management remains focused on stable, sustainable operations and cost improvements through continuous improvements in reliability, operational workflows and maintenance planning. Longer term, the Corporation remains on track to announce the updated Côté Gold mine plan in the fourth quarter of this year, outlining a meaningfully larger and more robust operation. This update is anticipated to reflect higher throughput rates and a significantly expanded reserve base through the integration of the Côté and Gosselin zones into a unified mine plan. With a large mineral endowment, demonstrated operating capability, and significant growth potential, Côté Gold is well positioned to underpin IAMGOLD's production profile for years to come.

The combination of Côté Gold, Westwood, Essakane and the Nelligan Mining Complex provide important operating leverage and diversification. The Board continues to view portfolio balance as a key strategic advantage, providing resilience through cycles and flexibility in capital allocation decisions.

Financial Performance and Capital Discipline

IAMGOLD's improved operating performance in 2025 coupled with record gold prices translated into record revenues and materially stronger cash flows. This was further improved by the close out of the legacy gold prepay obligations mid-year, and the establishment of a framework at Essakane that allows for regular cash dividends. The positive cashflow inflection allowed for IAMGOLD to fast track its strategy to unwind the financial leverage that was put in place to complete the construction of Côté, and facilitated returning capital to shareholders through the newly instituted share buyback program.

As Côté Gold continues to improve, IAMGOLD's cash generating capacity is expected to continue to increase assuming consensus gold prices. The Board remains committed to a prudent capital allocation framework, balancing reinvestment in the business, financial strength and longer-term opportunities to enhance shareholder returns.

Safety, Sustainability and Responsible Mining

The safety of our people and the communities in which we operate remains fundamental to IAMGOLD's success. In 2025, management continued to strengthen health and safety systems, reinforce critical controls and advance a culture of accountability across the organization. The Board receives regular, detailed reporting on safety performance and continues to challenge management to drive continuous improvement.

Responsible mining is integral to IAMGOLD's long term value proposition. During the year, the Corporation advanced its environmental, social and governance ("ESG") priorities, including environmental stewardship, community and Indigenous engagement, workforce development and ethical conduct. These efforts are detailed in IAMGOLD's Sustainability disclosures and reflect our commitment to transparency and responsible resource development.

Governance and Board Effectiveness

Strong governance underpins IAMGOLD's ability to execute its strategy and manage risk. In 2025, the Board continued to focus on: effective oversight of strategy, risk and performance; Board and committee effectiveness and renewal; Executive and Board succession planning; and enterprise risk management.

This year we have two directors not standing for re-election: Dr. Ann Masse and Ms. Audra Walsh. On behalf of the Board, I would like to thank both Dr. Masse and Ms. Walsh for their years of dedicated service, passion and many contributions to IAMGOLD. We wish them much success in their new pursuits. I am also pleased to report that Mr. Daniel Racine has agreed to stand for election to our Board at this years' AGM. Mr. Racine brings more than 35 years of global mining leadership experience, including senior executive roles at Allied Gold, Yamana Gold, and Agnico Eagle Mines Limited. His strong track record of value creation, corporate strategy and deep technical background as a professional mining engineer make him well suited to serve on the Board. Further details on Mr. Racine's background and qualifications are provided in this Circular.

The Board believes that its composition, skills and experience are well aligned with the Corporation's current stage of development and long-term ambitions. This Circular provides details on our governance framework, committee mandates and Board skills and experience.

Shareholder Engagement and Executive Compensation

Constructive engagement with shareholders remains a priority. During 2025, management and members of the Board engaged with shareholders to better understand perspectives on governance, strategy and executive alignment.

The Board, through the Human Resources and Compensation Committee, oversees IAMGOLD's executive compensation program with a clear objective to align pay with performance, support the execution of strategy, and promote long-term value creation. The Board carefully considers shareholder feedback and remains committed to ensuring our executive engagement program reflects best practices and supports the Corporation's strategic priorities.

Matters for Shareholder Approval

At the AGM, shareholders will be asked to vote on matters customary for a public company, including:

• the election of directors;

• the appointment of auditors;

• amendments to the Share Incentive Plan; and

• an advisory vote on executive compensation.

The Board unanimously recommends that shareholders vote FOR all resolutions, as described in this Circular.

Looking Ahead

As we move forward, the Board's priorities remain clear: maintain safe and reliable operations, oversee the growth and optimization of Côté Gold while ensuring best practices are ingrained in the operation, exercise disciplined capital allocation, and uphold strong governance and responsible mining practices with a continued focus on sustainable long-term value creation for shareholders.

The progress achieved in 2025 provides a strong foundation for the future. On behalf of the Board of Directors, I thank IAMGOLD's employees and contractors for their dedication, our host communities and partners for their collaboration, and our shareholders for their continued trust and support.

We look forward to your participation at the AGM.

Sincerely,

David S. Smith

Chair of the Board of Directors

NOTICE OF ANNUAL GENERAL MEETING OF SHAREHOLDERS

NOTICE IS HEREBY GIVEN that an annual general meeting (the "Meeting") of the holders of common shares (each, a "Shareholder") in the capital of IAMGOLD Corporation will be held virtually on Tuesday, May 5, 2026 at 2:30 PM (ET) at https://meetnow.global/M926LRS, subject to any adjournments or postponements thereof, for the following purposes:

• to receive and consider the annual report of management to Shareholders and the annual audited consolidated financial statements of the Corporation for the year ended December 31, 2025, and the report of the auditor thereon;

• to elect directors of the Corporation for the ensuing year;

• to re-appoint KPMG LLP as auditor of the Corporation for the ensuing year and to authorize the directors to fix their remuneration;

• to approve amendments to the Share Incentive Plan;

• to vote, in a non-binding, advisory manner, on the Corporation's approach to executive compensation; and

• to transact such other business as may properly come before the Meeting or any adjournment or postponement thereof.

Particulars of the foregoing matters are set forth in the accompanying management information circular. Only Shareholders of record as at the close of business on March 20, 2026, are entitled to receive notice of, and vote at, the Meeting and any adjournment or postponement thereof.

Notice-and-Access

The Corporation is using the notice-and-access procedures permitted under National Instrument 54-101 - Communication with Beneficial Owners of Securities of a Reporting Issuer and National Instrument 51-102 - Continuous Disclosure Obligations, as adopted under applicable Canadian securities laws, to deliver this Notice of Meeting and the related Circular to Shareholders.

Under notice-and-access procedures, Shareholders receive this Notice of Meeting instead of a paper copy of the Circular, and are provided with electronic access to the Circular. The Circular, together with the Corporation's audited consolidated financial statements for the year ended December 31, 2025, are available online at www.sedarplus.ca and on the Corporation's website at www.iamgold.com and on Envision Reports at www.envisionreports.com/HTDQ2026.

Shareholders may request a paper copy of the Circular and related meeting materials, at no cost, by contacting the Corporation or its transfer agent, Computershare Trust Company of Canada, in the manner described in the Circular.

Virtual-Only Meeting Format

The Corporation will hold the Meeting in a virtual-only format by way of a live audio webcast, consistent with its practice in recent years. This format is intended to provide Shareholders with enhanced flexibility and equitable access to the Meeting, regardless of geographic location or share ownership, and to facilitate meaningful engagement with the Corporation's directors and management. SHAREHOLDERS WILL NOT BE ABLE TO ATTEND THE MEETING IN PERSON.

Attendance and Voting

Any Shareholder whose name appears on the register of shareholders of the Corporation (a "Registered Shareholder") or duly appointed proxyholders of a Registered Shareholder may attend, participate and vote at the virtual Meeting. Shareholders whose common shares of the Corporation (the "Common Shares") are registered in the name of an intermediary such as a bank, trust company, securities dealer or broker, trustee or administrator of a self-administered registered retirement savings plan, registered retirement income fund, registered education savings plan or similar plan on behalf of such Shareholder (each, a "Non-Registered Shareholder") may attend, participate and vote at the Meeting only if they have been duly appointed as proxyholder and obtained an Invite Code. Non-Registered Shareholders wishing to attend and vote at the Meeting must appoint themselves as proxyholder and obtain an Invite Code in advance. Without an Invite Code, proxyholders will not be able to attend, participate or vote at the Meeting. Proxyholders must be registered in advance by visiting https://www.computershare.com/IAMGOLD and provide the required contact information so that Computershare Trust Company of Canada may issue an Invite Code via email.

Registered Shareholders who are unable to attend the Meeting are requested to complete, date, sign and return, the enclosed form of proxy. Proxies must be received by no later than 2:30 p.m. (ET) on May 1, 2026 or, in the case of any adjournment or postponement of the Meeting, by no later than 48 hours (excluding Saturdays, Sundays and holidays) before the time for the adjourned or postponed Meeting.

Registered Shareholders may vote electronically at www.investorvote.com using the 15-digit Control Number located on the form of proxy. Electronic voting instructions are in all respects equivalent to, and will be treated in the exact same manner as, voting instructions provided via a paper form of proxy. Further details on the electronic voting process are provided in the enclosed form of proxy. The time limit for the deposit of proxies may be waived by the chair of the Meeting, at their discretion, and without notice. Non-Registered Shareholders who wish to vote on any matter before the Meeting should contact the applicable intermediary in whose name their Common Shares are registered and carefully follow the instructions of such intermediary or its service company regarding how to vote, including when and where their voting instruction form is to be delivered.

DATED at Toronto, Ontario, this 25^th day of March, 2026.

BY ORDER OF THE BOARD

/s/ "Renaud Adams"

Renaud Adams

President and Chief Executive Officer

GENERAL PROXY INFORMATION

DELIVERY OF PROXY MATERIALS

IAMGOLD Corporation is using the notice-and-access provisions permitted under National Instrument 54-101 - Communication with Beneficial Owners of Securities of a Reporting Issuer and National Instrument 51-102 - Continuous Disclosure Obligations, as adopted by Canadian securities regulators to deliver its Circular to be used at the Meeting of Shareholders of Common Shares of the Corporation.

Under the notice-and-access approach, the Circular is being provided electronically rather than mailing paper copies. This approach supports the Corporation's sustainability and operational efficiency objectives by reducing paper usage and associated printing and mailing costs, while continuing to provide Shareholders with timely and convenient access to important information.

In accordance with notice-and-access, the Circular is available on the Corporation's website at www.iamgold.com and on the Corporation's issuer profiles on SEDAR+ at www.sedarplus.com and EDGAR at www.SEC.gov and on Envision Reports at www.envisionreports.com/HTDQ2026.

The Corporation has mailed to Shareholders of record a Notice of Availability of Proxy Materials together with a form of proxy or voting instruction form, as applicable, and an AGM User Guide (collectively, the "Notice Package"). The Notice Package contains instructions on how to access and review the Circular electronically, how to request a paper copy of the Circular at no cost, and how to vote at the Meeting.

Paper copies of the Circular may be requested, at no cost, following the instructions set out in the Notice Package, by calling toll-free 1-866-962-0498 (or 514-982-8716 if outside North America), up to the date of the Meeting or any adjournment thereof, or thereafter by contacting the Corporation at: iamgold_corporatesecretary@iamgold.com or at 416-360-4710.

All Shareholders are encouraged to review the Circular prior to voting. Questions regarding notice-and-access may be directed to the Corporation's transfer agent, Computershare Investor Services Inc., toll-free at 1-866-964-0492 or by scanning the QR code on the Notice of Availability of Proxy Materials.

Proxy materials are being sent directly to Registered Shareholders and to intermediaries for forwarding to non- registered (beneficial) Shareholders. The Corporation will bear the cost of delivering proxy materials and soliciting voting instructions for all registered and non-registered Shareholders.

SOLICITATION OF PROXIES

The information contained in this Circular is furnished in connection with management's solicitation of proxies to be used at the Meeting of Shareholders of Common Shares of the Corporation. The Meeting will be held in a virtual-only format, which will be conducted via live audio webcast online at https://meetnow.global/M926LRS, on Tuesday, May 5, 2026 at 2:30 p.m. (ET), for the purposes set out in the notice of the Meeting (the "Notice of Meeting").

A summary of the information Shareholders will need to attend the Meeting online is provided below. A guide on to how to login, and vote at, the Meeting was mailed to Registered Shareholders and is also located on Envision Reports at www.envisionreports.com/HTDQ2026, as well as on the Corporation's issuer profiles on SEDAR+ at www.Sedarplus.ca and EDGAR at www.SEC.gov.

It is expected that management's solicitation of proxies for the Meeting will be made primarily by mail. However, directors, officers and employees of the Corporation may also solicit proxies by telephone, electronically or in person in respect of the Meeting. This solicitation of proxies for the Meeting is being made by or on behalf of the directors and management of the Corporation and the Corporation will bear the costs of this solicitation of proxies for the Meeting.

The Corporation is not sending proxy-related materials directly to beneficial owners of Common Shares. The Corporation will reimburse brokers, nominees and other intermediaries for their reasonable expenses incurred in forwarding proxies and accompanying materials to beneficial owners of Common Shares.

INFORMATION FOR REGISTERED SHAREHOLDERS

Enclosed with this Circular is a form of proxy for use at the Meeting. The persons named in the enclosed form of proxy are officers and/or directors of the Corporation. Shareholders may appoint a person (who need not be a Shareholder of the Corporation) other than the persons already named in the enclosed form of proxy to represent such Shareholder at the Meeting. To do so, the Shareholder must strike out the printed names of such persons designated in the form of proxy and insert the name of such other person in the blank space provided therein for that purpose.

To be valid, a proxy must be received by the Corporation's transfer agent, Computershare Trust Company of Canada, 320 Bay Street, 14^th Floor, Toronto, Ontario, M5H 4A6, no later than 2:30 p.m. (ET) on May 1, 2026 or, in the event of an adjournment or postponement of the Meeting, no later than 48 hours (excluding Saturdays, Sundays and holidays) before the time for holding the adjourned or postponed Meeting.

As noted in the Notice of Meeting, Registered Shareholders may also elect to vote electronically in respect of any matter to be acted upon at the Meeting. Voting instructions provided electronically are in all respects equivalent to, and will be treated in the exact same manner as, voting instructions provided via a paper form of proxy. To vote electronically, Registered Shareholders are asked to go to the website shown on the form of proxy and follow the instructions on the screen. Please note that Shareholders exercising the electronic voting option will need to refer to the control number indicated on their proxy form to identify themselves in the electronic voting system. Shareholders should also refer to the instructions on the proxy form for information regarding the deadline for voting Common Shares electronically. If a Shareholder votes electronically, they are asked not to return the paper form of proxy by mail.

To be effective, a form of proxy must be executed by a Shareholder exactly as their name appears on the register of shareholders of the Corporation. Additional execution instructions are set out in the notes to the form of proxy. The proxy must also be dated where indicated. If no date is indicated, the proxy will be deemed to be dated on the day on which it was mailed to Shareholders.

The management representatives designated in the form of proxy will vote the Common Shares in respect of which they are appointed proxy in accordance with the instructions of the Shareholder. Where a Shareholder specifies a choice with respect to any matter to be acted upon, the Common Shares will be voted accordingly. In the absence of such direction, such Common Shares will be voted by the management representatives named in such form of proxy in favour of each of the matters referred to in the Notice of Meeting and will be voted by such representatives on all other matters which may come before the Meeting in their discretion.

The form of proxy, when properly signed, confers discretionary voting authority on those persons designated therein with respect to amendments or variations to the matters identified in the Notice of Meeting and with respect to other matters which may properly come before the Meeting. At the date of this Circular, management of the Corporation does not know of any such amendments, variations or other matters. However, if such amendments, variations or other matters which are not now known to management of the Corporation should properly come before the Meeting, the persons named in the enclosed form of proxy will be authorized to vote the Common Shares represented thereby in their discretion.

INFORMATION FOR NON-REGISTERED SHAREHOLDERS

Only Registered Shareholders of the Corporation or persons duly appointed as proxies are entitled to attend and vote at the Meeting. However, in many cases, Common Shares beneficially owned by a person (a "Non-Registered Shareholder") are registered either:

• In the name of an intermediary (an "Intermediary") with whom the Non-Registered Shareholder deals in respect of the Common Shares (Intermediaries include, among others, banks, trust companies, securities dealers or brokers, trustees or administrators of a self-administered registered retirement savings plan, registered retirement income fund, registered education savings plan and similar plans); or

• In the name of a clearing agency (such as The Canadian Depository for Securities Limited, in Canada, or The Depositary Trust Company, in the United States) of which the Intermediary is a participant.

In accordance with the requirements of National Instrument 54-101 - Communication with Beneficial Owners of Securities of a Reporting Issuer of the Canadian Securities Administrators, the Corporation has distributed copies of the Notice Package to the Intermediaries and clearing agencies for onward distribution to Non-Registered Shareholders. Intermediaries are required to forward the Notice Package to Non-Registered Shareholders unless the Non-Registered Shareholders have waived the right to receive them. Intermediaries often use service companies to forward the Notice Package to Non-Registered Shareholders. Generally, Non-Registered Shareholders who have not waived the right to receive Notice Package will either be given:

• A voting instruction form (a "VIF") which must be completed and returned by the Non-Registered Shareholder in accordance with the directions printed on the form (in some cases, the completion of the VIF by telephone, facsimile or over the internet is permitted); or

• A form of proxy which has already been signed by the Intermediary (typically by a facsimile, stamped signature), which is restricted as to the number of Common Shares beneficially owned by the Non-Registered Shareholder but which is otherwise not completed by the Intermediary. Because the Intermediary has already signed the form of proxy, this form of proxy is not required to be signed by the Non-Registered Shareholder when submitting the proxy. In this case, the Non-Registered Shareholder who wishes to submit a proxy should properly complete the form of proxy and deposit it with Computershare Trust Company of Canada, 320 Bay Street, 14^th Floor, Toronto, Ontario, M5H 4A6, by the proxy deadline.

In either case, the purpose of these procedures is to permit Non-Registered Shareholders to direct the voting of the Common Shares they beneficially own. Should a Non-Registered Shareholder who receives either a form of proxy or VIF wish to attend the Meeting virtually and vote (or have another person attend and vote on behalf of the Non-Registered Shareholder), the Non-Registered Shareholder should, in the case of a form of proxy, strike out the names of the persons named in the form of proxy and insert the Non-Registered Shareholder's (or such other person's) name in the blank space provided or, in the case of a VIF, follow the directions indicated on the form. In either case, Non-Registered Shareholders should carefully follow the instructions of their Intermediaries and their service companies, including instructions regarding when and where the proxy or VIF is to be delivered.

SPECIAL PROCEDURES FOR THE VIRTUAL-ONLY MEETING

Please read the below very carefully as it contains important information related to the Corporation's virtual-only Meeting.

Registering a Proxyholder

Shareholders who wish to appoint a third-party proxyholder to virtually attend, participate or vote at the Meeting as their proxy and vote their Common Shares MUST submit their proxy or VIF, as applicable, appointing such third-party proxyholder AND registering the third-party proxyholder, as described below. Registering your proxyholder is an additional step to be completed AFTER you have submitted your proxy or VIF. Failure to register the proxyholder will result in the proxyholder not receiving a 4-character Invite Code to virtually attend, participate or vote at the Meeting.

Step 1: Submit your proxy or VIF

• To appoint a third-party proxyholder, insert such person's name in the blank space provided in the form of proxy or VIF (if permitted) and follow the instructions for submitting such form of proxy or VIF. This must be completed prior to registering such proxyholder, which is an additional step to be completed once you have submitted your form of proxy or VIF. If you are a Non-Registered Shareholder located in the United States, you must also provide Computershare Trust Company of Canada with a duly completed form of proxy if you wish to attend, participate or vote at the Meeting or, if permitted, appoint a third party as your proxyholder. See below under this section for additional details.

Step 2: Register your proxyholder

• To register a proxyholder, Shareholders, MUST visit www.computershare.com/IAMGOLD by 2:30 p.m. (ET) on May 1, 2026 (or, if the Meeting is adjourned or postponed, by the time that is 48 hours prior to the Meeting, excluding Saturdays, Sundays and holidays) and provide Computershare Trust Company of Canada with the required proxyholder contact information, so that Computershare Trust Company of Canada may provide the proxyholder with a 4-character Invite Code via email. Without an Invite Code, proxyholders will not be able to virtually attend, participate or vote at the Meeting.

• If you are a Non-Registered Shareholder and wish to virtually attend, participate or vote at the Meeting, you have to insert your own name in the space provided on the VIF sent to you by your Intermediary, follow all of the applicable instructions provided by your Intermediary AND register yourself as your proxyholder, as described above. By doing so, you are instructing your Intermediary to appoint you as proxyholder. It is important that you comply with the signature and return instructions provided by your

Intermediary. Please also see further instructions below under the heading "Attending and Participating at the Meeting".

If you are a Non-Registered Shareholder located in the United States and wish to attend, participate or vote at the Meeting or, if permitted, appoint a third party as your proxyholder, in addition to the steps described above and below under the heading "Attending and Participating at the Meeting", you must obtain a valid legal proxy from your Intermediary.

Follow the instructions from your Intermediary included with the legal proxy form and the VIF sent to you, or contact your Intermediary to request a legal proxy form or a legal proxy if you have not received one. After obtaining a valid legal proxy from your Intermediary, you must then submit such legal proxy to Computershare Trust Company of Canada at uslegalproxy@computershare.com, by 2:30 p.m. (ET) on May 1, 2026 (or, if the Meeting is adjourned or postponed, by the time that is 48 hours prior to the Meeting, excluding Saturdays, Sundays and holidays).

Attending and Participating at the Meeting

The Corporation is holding the Meeting in a virtual-only format, which will be conducted via live audio webcast. Shareholders will not be able to attend the Meeting in person. In order to attend, participate or vote at the Meeting (including for voting and asking questions at the Meeting), the procedures set out below must be followed.

Registered Shareholders and duly appointed proxyholders will be able to attend, participate and vote at the Meeting online at https://meetnow.global/ M926LRS. Such persons may then enter the Meeting by clicking "Shareholder" and entering the 15-digit Control Number located on the form of proxy before the start of the Meeting:

• Registered Shareholders: The 15-digit Control Number located on the form of proxy is required for Registered Shareholders to access, participate and vote at the Meeting. If as a Registered Shareholder you are using your Control Number to login to the Meeting and you accept the terms and conditions, you will be provided the opportunity to vote by online ballot at the appropriate time on the matters put forth at the Meeting. If you have already voted by proxy and you vote again during the online ballot during the Meeting, your online vote during the Meeting will revoke your previously submitted proxy. If you have already voted by proxy and do not wish to revoke your previously submitted proxy, do not vote again during the online ballot.

• Duly appointed proxyholders: Computershare Trust Company of Canada will provide duly appointed proxyholders, including Non-Registered Shareholders that have appointed themselves as their proxyholder, with a 4-character Invite Code by e-mail after the proxy cut-off deadline has passed.

• United States Beneficial Shareholders: To attend and vote at the Meeting, United States Beneficial Shareholders must first obtain a valid form of proxy from their broker, bank or other agent and then register in advance to attend the Meeting. Such Shareholders should follow the instructions provided by their broker or bank included with the valid form of proxy or contact such broker or bank to request a valid form of proxy. After obtaining a valid form of proxy from a broker, bank or other agent, United States Beneficial Shareholders must submit a copy of their valid form of Proxy to Computershare in order to register to attend the Meeting. Requests for registration should be sent:

Only Registered Shareholders and duly appointed proxyholders will be entitled to attend, participate and vote at the Meeting. Non-Registered Shareholders who have not made arrangements for the due appointment of themselves as proxyholder will not be able to attend, participate or vote at the Meeting.

Shareholders who wish to appoint a third-party proxyholder to represent them at the Meeting (including Non-Registered Shareholders who wish to appoint themselves as proxyholder to attend, participate or vote at the Meeting) MUST submit their duly completed proxy or VIF AND register the proxyholder.

If you attend the virtual Meeting, it is important that you are connected to the internet at all times during the Meeting in order to vote when balloting commences. It is your responsibility to ensure connectivity for the duration of the Meeting. You should allow ample time to check into the Meeting online and complete the related procedures.

At the Meeting, questions and motions can be submitted by any Registered Shareholder or duly appointed proxyholder, including Non-Registered Shareholders that have appointed themselves as proxyholder, using the instant messaging service on the Meeting's virtual interface. Guests cannot submit questions or make motions. Once received, the Chair, or another member of management or Board present at the Meeting, will read your question or motion out loud to the Meeting.

If you have questions regarding your ability to participate at the Meeting, please refer to Virtual AGM User Guide included in the Notice Package. Please refer to this document if you have difficulties logging into the Meeting website or attempt to log in as a guest. You will be able to log into the Meeting site up to 60 minutes prior to the start of the Meeting.

Registered Shareholders who encounter difficulties during the registration process or while accessing and attending the Meeting can contact Computershare at 1-888-724-2416 (local) or (781) 575-2748 (International). Please ensure you have the 15-digit Control Number located on the form of proxy if you require assistance from Computershare.

REVOCATION OF PROXIES

Registered Shareholders who revoke their proxy and do not replace it with another that is deposited with us before the proxy cut-off deadline, can still vote their Common Shares, but to do so they must attend the Meeting online. Information about attending the Meeting online is located under the heading "Special Procedures for the Virtual-only Meeting".

A Registered Shareholder who has submitted a proxy may revoke it by:

• depositing an instrument in writing signed by the Registered Shareholder or by an attorney authorized in writing or, if the Registered Shareholder is a corporation, by a duly authorized officer or attorney, at the registered office of the Corporation, 150 King Street West, Suite 2200, Toronto, Ontario, M5H 1J9, at any time up to and including the last business day preceding the day of the Meeting;

• transmitting, by telephonic or electronic means, a revocation that complies with the instructions in the paragraph immediately above and that is signed by electronic signature provided that the means of electronic signature permit a reliable determination that the document was created or communicated by or on behalf of the Registered Shareholder or the attorney or a duly authorized attorney of a corporation or other entity, as the case may be; or

• any other manner permitted by law.

Registered Shareholders who use their control number to login to the Meeting and accept the terms and conditions thereof will be provided the opportunity to vote by online ballot at the appropriate time on the matters put forth at the Meeting. Shareholders who have already voted by proxy and vote again during the online ballot during the Meeting will thereby revoke their previously submitted proxy. Shareholders who do not wish to revoke their previously submitted proxy should not vote again during the online ballot.

A Non-Registered Shareholder who has submitted voting instructions to an Intermediary should contact their Intermediary for information with respect to revoking their voting instructions.

VOTING SECURITIES AND PRINCIPAL HOLDERS THEREOF

DESCRIPTION OF SHARE CAPITAL AND QUORUM

The Corporation is authorized to issue an unlimited number of Common Shares. Each Common Share entitles the holder of record to notice of and one vote at all meetings of Shareholders. As at the close of business on March 20, 2026, there were 582,221,969 Common Shares outstanding. The presence of two or more persons entitled to vote at the Meeting, either as Shareholders or proxy holders, and holding or representing not less than 25% of the issued and outstanding Common Shares entitled to be voted thereat will constitute a quorum for the Meeting.

RECORD DATE

The directors of the Corporation have fixed the close of business on March 20, 2026, as the record date for the determination of those holders of Common Shares entitled to receive notice of the Meeting and to vote at the Meeting including at all adjournments or postponements thereof.

OWNERSHIP OF SECURITIES OF THE CORPORATION

As of March 20, 2026, to the knowledge of the directors and officers of the Corporation, and according to securities regulatory filings of which the Corporation has notice, no person or company, beneficially owned, or exercised control or direction over, more than 10% of the votes attached to all of the Common Shares outstanding.

CURRENCY

Unless stated otherwise, all references to dollar amounts in this Circular are to Canadian dollars. The average annual exchange rate for 2025 reported by the Bank of Canada of CAD$1.00 = US$0.72 was used, unless otherwise noted.

BUSINESS OF THE MEETING

ELECTION OF DIRECTORS

The Board and management of the Corporation would like to extend their sincere appreciation to Dr. Ann Masse and Ms. Audra Walsh for their significant contributions to the Corporation.

Dr. Masse, who has served on the Board since October 2021, has provided invaluable leadership as chair of the Sustainability Committee. During her tenure, she played a leading role in advancing the Corporation's health and safety, sustainability practices and CRM integration. During a period of significant transformation for the Corporation, Dr. Masse also served as a member of several committees supporting the Corporation's long-term operational objectives and commitment to responsible mining.

Ms. Walsh, who has served on the Board since June 2023, has made significant contributions through her service on several of the Board's committees, with a particular focus on her role on the Technical Committee. In addition to her guidance during the construction and ramp-up of the Côté Gold mine, she provided valuable technical oversight and guidance with respect to the Corporation's other operations and development projects.

Dr. Masse and Ms. Walsh will not be standing for reelection at the Meeting. As part of the Board's ongoing succession planning, Mr. Daniel Racine has been included as a director nominee for election at the Meeting. Mr. Racine brings more than 35 years of global mining industry experience, including senior executive leadership roles, and offers a strong track record of value creation, corporate strategy execution, and technical expertise as a professional mining engineer.

The term of office of each of the present directors of the Corporation expires at the Meeting. The Board has nominated eight (8) directors to be elected at the Meeting, to serve as a director until the next annual meeting of Shareholders unless he or she resigns or is otherwise removed from office earlier. See "Board of Directors".

Shareholders will be asked to elect the following directors:

• Renaud Adams;

• Christiane Bergevin;

• L. Peter O'Hagan;

• Kevin P. O'Kane;

• Daniel Racine;

• David S. Smith;

• Murray P. Suey; and

• Anne Marie Toutant;

The Canada Business Corporations Act (the "CBCA"), the Corporation's governing statute, provide Shareholders with a statutory right to vote for or against director nominees during uncontested elections. If any director nominee does not receive a majority of votes in favour of their election, such director nominee will not be elected to serve as a member of the Board. Any nominee that is an incumbent director who does not receive a majority of votes in their favour may remain in office until the earlier of (i) the 90th day after the date of the election; and (ii) the day on which their successor is appointed or elected.

The Board recommends that Shareholders vote FOR the election of each of the nominees set out in this Circular. Management of the Corporation does not contemplate that any of the nominees will be unable to serve as a director of the Corporation for the ensuing year; however, if that should occur for any reason at or prior to the Meeting or any adjournment or postponement thereof, the persons named in the enclosed form of proxy have the right to vote the proxy for the election of the remaining nominees and may vote in their discretion for the election of any persons in place of any nominees unable to serve.

In the absence of any instruction to vote against the election of any nominee, the Common Shares represented by proxies received by management will be voted FOR each of the nominees set out in this Circular. The elected directors will hold office until the close of the next annual meeting of Shareholders, unless their office is earlier vacated or until their successor is appointed or elected.

Information as to the number of Common Shares owned and/or over which control or direction is exercised, whether directly or indirectly, by the nominees for election as directors of the Corporation is, in each case, based upon information furnished by the respective nominee on the System for Electronic Disclosure by Insiders ("SEDI"), at www.sedi.ca, and information otherwise available to the Corporation as at March 20, 2026.

Summary of Board Composition

The Board, collectively, possesses skills and experience described in the table below, the majority having significant mining experience. It is anticipated that, following the Meeting, the Board will consist of eight (8) directors total, including two (2) women directors, or 25% of all directors, and seven (7) independent directors, or ~88% of all directors

RE-APPOINTMENT OF AUDITOR

KPMG LLP is the Corporation's auditor. The Board recommends that Shareholders vote FOR the re-appointment of KPMG LLP as auditor of the Corporation until the close of the next annual meeting of Shareholders or until their successor is appointed and to authorize the directors to fix their remuneration. KPMG LLP has been the auditor of the Corporation since June 18, 1998.

In the absence of any instruction to withhold a vote, the Common Shares represented by proxies received by management will be voted FOR the re-appointment of KPMG LLP as auditor of the Corporation until the close of the next annual meeting of Shareholders or until their successor is appointed and to authorize the directors to fix their remuneration.

The aggregate fees billed by KPMG LLP in each of the last two financial years of the Corporation are:

(1) Audit Fees include the statutory audits, as well as out of pocket costs such as reimbursement costs, technology and support charges or administrative charges incurred in connection with providing the professional services.

(2) Audit-related fees include the audit of the Québec pension plan.

(3) The tax fees relate to foreign tax compliance services.

(4) Other fees relate to enterprise risk management benchmarking services.

AMENDMENTS TO THE SHARE INCENTIVE PLAN

The Share Incentive Plan encompasses the Share Purchase Plan, the Share Bonus Plan, the Share Unit Plan (formerly the Deferred Share Plan) and the Share Option Plan. The Share Incentive Plan was established to advance the long-term interests of the Corporation through the attraction, retention and motivation of key employees and the alignment of the interests of key employees with the interests of the Corporation's stakeholders through share ownership in the Corporation. At the Meeting, Shareholder approval is sought to amend the Share Incentive Plan, as described below (the "Plan Amendments") by passing the following resolution:

1. Resolved that the amendments to the Share Incentive Plan described in the management information circular of IAMGOLD Corporation dated March 25, 2026, including: i) amendments clarifying the authority of the Board of Directors to approve certain amendments without shareholder approval where permitted under the Share Incentive Plan, applicable laws, rules or regulations and stock exchange requirements; ii) amendments introducing "double trigger" change of control provisions governing the vesting and treatment of awards under the Share Option Plan, Share Bonus Plan and Share Unit Plan and addressing the treatment of shares held under the Share Purchase Plan in connection with a change of control; and iii) certain housekeeping and clerical amendments intended to improve clarity and consistency throughout the Share Incentive Plan, be, and they hereby are, approved;

2. Resolved that any one officer or any one director of the Corporation be, and each of them hereby is, authorized and empowered, acting for, in the name of and on behalf of the Corporation, to execute or to cause to be executed and to deliver or cause to be delivered, all such agreements and documents, as any one of them shall consider necessary or desirable and shall approve and to do or cause to be done all such other acts and things as any one of them shall determine to be necessary or desirable in connection with the Share Incentive Plan or in order to carry out the intent of this resolution and the matters authorized hereby.

In order to become effective, this resolution must be approved by a simple majority of the votes cast by holders of Common Shares present in person or represented by proxy at the Meeting or any adjournment thereof.

Summary of the Plan Amendments

Shareholders are being asked to approve the following Plan Amendments which the Board believes are reasonable and appropriate.

- Amendment Provision: The Plan Amendments clarify that any amendment that does not require Shareholder approval by virtue of the terms of the Share Incentive Plan, applicable laws, rules or regulations of any regulatory authority having jurisdiction, or any relevant stock exchange, may be approved by the Board without Shareholder approval. This clarification is aligned with TSX requirements.

- Change of Control:

• The Plan Amendments introduce a "double trigger" change of control provision. Under this provision, outstanding awards under the Share Option Plan, the Share Bonus Plan and the Share Unit Plan will only vest on an accelerated basis in connection with a change of control if (a) an alternative award is not provided to the participant in replacement of the outstanding award, or (b) the participant is terminated without cause or resigns for good reason within 12 months following the change of control. This amendment clarifies the treatment of awards in the context of a change of control and is designed to prevent the automatic vesting of unvested awards solely upon the occurrence of a change of control event.

• The Plan Amendments contemplate that in the event of a change of control, the Common Shares held in safekeeping for a participant under the Share Purchase Plan shall be immediately deliverable to the participant and the Corporation's contribution shall immediately be made and the Common Shares shall be issued for the then aggregate contribution prior to the completion of the transaction which results in the change of control.

• References to the treatment of awards in the context of a take-over bid have been removed, as such an event is now contemplated within the definition of "change of control".

- Housekeeping Amendments: The Plan Amendments also include certain other amendments of a housekeeping or clerical nature intended to provide greater clarity and consistency throughout the Share Incentive Plan.

The Plan Amendments were approved by the Board on March 23, 2026, subject to Shareholder approval. For the reference of Shareholders, an amended copy of the Share Incentive Plan incorporating the Plan Amendments is available to any security holder of the Corporation at or prior to the Meeting upon request to the Secretary of the Corporation and is also attached for reference at Appendix "B" to this Circular.

The TSX has conditionally approved the Plan Amendments subject to approval by Shareholders at the Meeting.

The Board recommends that Shareholders vote FOR the resolution to approve amendments to the Share Incentive Plan.

In the absence of any instruction to the contrary, the Common Shares represented by proxies received by management will be voted FOR the approval of the amendments to the Share Incentive Plan.

ADVISORY VOTE ON THE CORPORATION'S APPROACH TO EXECUTIVE COMPENSATION

The Board has adopted a shareholder advisory vote on the Corporation's approach to executive compensation, as disclosed under the heading "Statement of Executive Compensation". As a formal opportunity to provide their views on the disclosed objectives and structure of the Corporation's pay-for-performance compensation model, Shareholders are asked to review and vote, in a non-binding, advisory manner, on the following resolution:

Resolved that, on an advisory basis and not to diminish the role and responsibilities of the board of directors, the shareholders accept the approach to executive compensation disclosed in the management information circular of IAMGOLD Corporation dated March 25, 2026.

The Human Resources and Compensation Committee (the "HRCC") and the Board will give due consideration to the results of the vote when determining future compensation policies, procedures and decisions consistent with its pay-for-performance compensation model (see the Statement of Executive Compensation for details regarding the compensation philosophy and guidelines of the Board and the performance metrics and process used to assess performance as well as whether any compensation consultant was retained). The pay-for-performance compensation model is designed to attract, retain and motivate talented management and pay for actual performance which drives the long-term creation and preservation of shareholder value.

The Board recommends that Shareholders vote FOR the resolution to accept the Corporation's approach to executive compensation.

In the absence of any instruction to the contrary, the Common Shares represented by proxies received by management will be voted FOR the approval of the resolution to accept the Corporation's approach to executive compensation.

BOARD OF DIRECTORS

RENAUD ADAMS

Renaud Adams has over 30 years of global mining experience in senior executive positions and operations. Mr. Adams was President and Chief Executive Officer of New Gold Inc. from 2018 to 2022, where he led the strategic repositioning of the company. Prior to New Gold, Mr. Adams was President and Chief Executive Officer of Richmont Mines Inc. from 2014 until the company was sold to Alamos Gold in November 2017. From 2011 to 2014, Mr. Adams was Chief Operating Officer at Primero Mining Corporation, and prior to that he was General Manager of IAMGOLD's Rosebel mine in Suriname before being appointed Senior Vice President, Americas Operations. Prior to IAMGOLD, Mr. Adams held various senior operations positions at mining operations located in the Americas. Mr. Adams holds a Bachelor of Engineering degree in Mining and Mineral Processing from Laval University in Québec, Canada.

CHRISTIANE BERGEVIN

Christiane Bergevin brings over 35 years of experience in finance transaction advisory, strategy and project development across the world. She spent 19 years with the international engineering construction company of SNC-Lavalin (now AtkinsRéalis) including as the President of SNC-Lavalin Capital. From 2009 to 2015, Ms. Bergevin led corporate development for Desjardins Group as Executive Vice President, Strategic Partnership and Business Development and was a member of the global credit committee and served on the executive committee of Desjardins Financial Corporation. She was subsequently a senior consultant with Hydro One's Strategy, Innovation and Corporate Development Group. Since 2020, she has been a Senior Advisor to the strategy consulting firm of Roland Berger. In addition to her credentials in natural resources, capital markets, investments and mergers & acquisitions, Ms. Bergevin has extensive public policy and international relations experience and is a Governor of the Canadian Chamber of Commerce after serving as the Chair of the Board from 2017 to 2018. Ms. Bergevin is currently a Director of Azimut Exploration Inc. (TSX-V, OTCQX), Transat A.T. Inc. (TSX) and a member of the supervisory board of RATP Développement S.A. (RATP Dev). Ms. Bergevin has previously been a Director of Yamana Gold, Talisman Energy, Caisse de dépôt et placement du Québec and the Business Development Bank of Canada. Ms. Bergevin currently serves as the Chair of the Board of Tennis-Québec. Ms. Bergevin holds a Bachelor of Commerce, Finance and Entrepreneurship with Distinction from McGill University, and graduated from the Wharton School of Business (Advanced Management Program). She holds the ICD.D designation from the Institute of Corporate Directors.

L. PETER O'HAGAN

L. Peter O'Hagan brings over 35 years of experience in commodities, natural resource investing, capital markets and structured finance. He worked at Goldman Sachs from 1991 to 2013, where he was a partner from 2002 to 2013 and was most recently Co-Head of Global Commodities. From 2016 to 2019, Mr. O'Hagan was a Managing Director at The Carlyle Group, a global investment firm where he focused on industrial and natural resource investments within the $4 billion Equity Opportunity Fund. Immediately prior to joining Carlyle, he was an operating advisor at KKR & Co. in the Energy and Real Assets group. Mr. O'Hagan is currently a director of Triple Flag Precious Metals, where he is Chair of the Compensation Committee. He was a board member of Rigel Resource Acquisition Corporation from 2022 to 2025, where he served as Chair of the Audit Committee and a board member and Chair of the Compensation Committee of Stillwater Mining from 2015 to 2017 until its sale to Sibanye Gold. He is a graduate of the University of Toronto, Trinity College (BA) and holds an MA from the Johns Hopkins University School of Advanced International Studies (SAIS). He serves on the advisory board of Johns Hopkins SAIS.

KEVIN P. O'KANE

Kevin P. O'Kane has more than 40 years' experience in the global mining industry in senior executive and operations positions. Mr. O'Kane spent over 35 years with BHP in various roles including leading multibillion-dollar projects from conception, through permitting and into execution and operations, President of Pampa Norte copper operations in Chile, in various major project development, technical and operating roles at La Escondida copper mine in Chile, and Vice President Health, Safety, Environment & Community for BHP's copper business. In September 2025, Mr. O'Kane was appointed as Executive Vice President and Chief Operating Officer, in addition to continuing as a non-independent Director of Northisle Copper and Gold Inc. From 2018 to 2020, Mr. O'Kane served as the Executive Vice President and Chief Operating Officer of SSR Mining Inc. Mr. O'Kane also serves on the Boards of Almaden Minerals Ltd. and Autlan BMV. Mr. O'Kane holds a Bachelor of Applied Science degree in Mining Engineering from Queen's University in Ontario, Canada and is registered as a Professional Engineer in the province of British Columbia.

DANIEL RACINE

Daniel Racine served as President of Allied Gold Corporation from 2023 until 2026 and currently serves on its board of directors. Mr. Racine joined Yamana Gold in May 2014 and was appointed President and Chief Executive Officer in August 2018 until the company's sale in 2023. From August 2012 until March 2014, he served as President and Chief Operating Officer of Brigus Gold Corp. Prior to joining Brigus, Mr. Racine was Senior Vice President, Mining at Agnico Eagle Mines Limited, where he was responsible for the company's global mining operations. He joined Agnico Eagle as a junior mining engineer in 1987 and advanced through progressively senior roles over his tenure, including LaRonde Mine Manager, Vice President Operations, and Senior Vice President Operations. Mr. Racine holds a Bachelor of Mining Engineering degree from Université Laval and is a registered engineer with L'Ordre des ingénieurs du Québec, a Professional Engineer with Professional Engineers Ontario, and a member of the Ontario Society of Professional Engineers.

DAVID S. SMITH

David S. Smith is a Corporate Director who has had a career on both the finance and the supply sides of business within the mining sector. Mr. Smith has 40 years of executive and board leadership experience with extensive international exposure. Mr. Smith served as the Chief Financial Officer and Executive Vice President of Finning International Inc., a major equipment supplier to the mining industry with significant operations in Canada and South America, from 2009 to 2014. Prior to joining Finning, Mr. Smith served as Chief Financial Officer and Vice President of Ballard Power Systems, Inc. from 2002 to 2009. Previously, he spent 16 years with Placer Dome Inc. (now Barrick) in various senior positions and 4 years with PriceWaterhouseCoopers. Mr. Smith is currently the Chair of the Board of Directors of Hudbay Minerals Inc. Mr. Smith has previously served on other public mining company boards of directors, specifically, Pretium Resources Inc. (acquired by Newcrest Mining), Nevsun Resources Ltd. (acquired by Zijin Mining Group Limited), Dominion Diamonds Corp. (acquired by the Washington Companies), Northwest Copper Corp. and Paramount Gold Nevada. Mr. Smith holds a Bachelor's of Science degree in Business Administration, Accounting from California State University, Sacramento and has completed the Institute of Corporate Directors, Directors Education Program (ICD.D).

MURRAY P. SUEY

Murray P. Suey has over 40 years of experience in financial advisory, operations and auditing with KPMG Canada, a global leading accounting and professional services firm. Mr. Suey most recently served as a Regional Managing Partner in KPMG Canada. Prior to this, he was a Partner-in-Charge of the Calgary audit practice with decades of experience advising global natural resource companies and SEC registrants. Mr. Suey was proudly a founding member of KPMG Canada's Inclusion and Diversity Council which guided KPMG Canada to actively manage diversity and representation of women in senior management positions. Mr. Suey was the Director, Treasurer and Member of the Executive Committee of the Board for Breakthrough T1D, formerly known as the Juvenile Diabetes Research Foundation (JDRF) Canada until April 2025. Mr. Suey is currently a member of the Audit Committee of the Calgary Foundation. Mr. Suey was awarded the Fellow designation of the Institute of Chartered Accountants (FCPA, FCA) in 2019, and holds a Bachelor of Commerce (with Distinction) from the University of Calgary. In 2023, Mr. Suey received the Executive Certificate in Advancing Sustainability from the NYU Stern Center for Sustainable Business and completed the Directors' Consortium from Stanford University Graduate School of Business.

ANNE MARIE TOUTANT

Anne Marie Toutant has over 35 years of experience in the resources industry as an independent director, advisor and executive with extensive operations and technical expertise. Appointed in 2024 to the Canadian Mining Hall of Fame Board, Ms. Toutant previously served on the boards of the Suncor Energy Foundation and the Mining Association of Canada. A Fellow of CIM, Ms. Toutant served as the Institute's President in 2022/2023. Anne Marie held executive roles at Suncor focused on leading priorities such as: the safe commissioning, world class start-up and initial operations of the $18B Fort Hills project, testing of autonomous trucks in northern Alberta and development of a digital deployment roadmap, and the consolidation of mining activities in the world-scale Millennium mine. Prior to Suncor, Ms. Toutant held operations and engineering roles of increasing responsibility in metallurgical and thermal coal mines in western Canada for Luscar Ltd. and Cardinal River Coals Ltd. Ms. Toutant holds a BSc in Mining Engineering from the University of Alberta and is registered as a Professional Engineer in the province of Alberta.

CEASE TRADE ORDERS AND BANKRUPTCIES

Other than as set forth below, to the Corporation's knowledge, as at the date of the Circular, or within the last ten years, no proposed director of the Corporation is or has been:

a) a director, chief executive officer or chief financial officer of any company (including the Corporation):

i. subject to an order (including a cease trade order, an order similar to a cease a trade order or an order that denied the relevant company access to any exemption under securities legislation) for a period of more than 30 consecutive days, that was issued while the proposed director was acting in the capacity as director, chief executive officer or chief financial officer; or

ii. subject to an order (including a cease trade order, an order similar to a cease trade order or an order that denied the relevant company access to any exemption under securities legislation) for a period of more than 30 consecutive days, that was issued after the proposed director ceased to be a director, chief executive officer or chief financial officer and which resulted from an event that occurred while that person was acting in the capacity as director, chief executive officer or chief financial officer; or

b) a director or executive officer of any company (including the Corporation), that while that person was acting in that capacity or within a year of the person ceasing to act in that capacity, became bankrupt, made a proposal under any legislation relating to bankruptcy or insolvency or was subject to or instituted any proceedings, arrangement or compromise with creditors or had a receiver, receiver manager or trustee appointed to hold its assets.

Mr. Adams served as a director of Monarch Mining Corporation ("Monarch"), a TSX list company, until March 31, 2023. Further to an application filed by one of Monarch's creditors, Investissement Québec, on November 15, 2023, the Superior Court of Québec (Court) issued an order under the Companies' Creditors Arrangement Act (CCAA) staying any legal proceedings against Monarch and appointing PricewaterhouseCoopers Inc. (PwC) as monitor of the business and financial affairs of Monarch. Further to its appointment, PwC initiated a sale and investment solicitation process for Monarch. This may have involved one or more restructurings, recapitalizations or other forms of reorganization of the operations and business of Monarch. Such sale and investment solicitation process culminated in potential transactions involving the sales of Monarch's Beaufor, McKenzie Break and Swanson assets. The sale and investment solicitation process is ongoing while Monarch continues to operate under CCAA protection. Mr. Adams resigned from the Board on March 31, 2023, nearly eight months before the order of the Court placing Monarch under CCAA protection.

STATEMENT OF EXECUTIVE COMPENSATION

MESSAGE FROM THE HUMAN RESOURCES AND COMPENSATION COMMITTEE

Dear Fellow Shareholders, On behalf of the Board of Directors' Human Resources and Compensation Committee ("HRCC"), I am pleased to share with you our Compensation Discussion and Analysis ("CD&A"), and an overview of Board's executive compensation decisions for 2025. Performance Highlights In 2025, IAMGOLD achieved significant milestones including the first full year of production at Côté Gold, achievement of production guidance targets following record quarterly production in the fourth quarter across all sites, the establishment of a framework at Essakane that facilitates regular cash movements to IAMGOLD, and the consolidation of assets in the Chibougamau-Chapais region of Quebec to position the Nelligan Mining Complex as among the largest pre-production assets in Canada. On the financial side, IAMGOLD closed out the legacy gold prepay obligations mid-year, de-levered the balance sheet through the repayment of the $400 million high-cost term loan, and established a share buyback program that purchased $50 million in IAMGOLD shares prior to the end of the year. These efforts, compounded by a strong gold market, were rewarded by the market with IAMGOLD's share price increasing 213% over this period.

Pay-for-Performance

The IAMGOLD executive compensation program is anchored in a pay-for-performance philosophy and reflects the mandate of the HRCC. The program is designed to attract, retain, and motivate high-calibre executives, align executive interests with those of shareholders, and support the achievement of corporate and individual objectives in both the short and long term. The primary components of the program, include base salary, annual non-equity incentives, and long-term equity incentives.

The HRCC provides oversight of the overall compensation framework and annually reviews each component of executive compensation. In fulfilling its mandate, the HRCC recommends base salary levels to the Board, considering several factors, to enable the Corporation to attract, motivate and retain high quality executives who are critical to our long-term success. Annual incentive compensation is linked to achievement of individual and corporate objectives. Long-term equity incentive compensation is intended to align the interests of executive officers with the longer-term interests of shareholders, rewarding the achievement of sustained high performance.

2025 Company Scorecard

The Company's Performance Evaluation Scorecard ("Scorecard") is grounded in objective, well-defined, and measurable financial, operational, and ESG metrics. By aligning annual performance goals with disciplined execution, the Scorecard reinforces sustainable long-term value creation for shareholders, mitigates excessive risk-taking, and advances the Corporation's strategic ambition to become a leading mid-tier Canadian gold producer and modern mining company.

In 2025, the Corporation delivered balanced performance against its 2025 Scorecard objectives, reflecting strong results across many key categories, while certain operating metrics were below target, resulting in a calculated overall outcome narrowly below target. In exercising its oversight responsibilities, the HRCC applied informed judgement with respect to the Gold Production and Capital Costs metrics to reflect specific operational decisions made during the year which the HRCC determined prudent and aligned with long-term interests of the Corporation and its shareholders, as well as results that were not fully captured by measured outcomes. After considering both the quantitative results and the broader operational context, the HRCC approved an adjustment to the 2025 Scorecard result, increasing the overall score from 98.2% to 104.2%.

Executive performance

The HRCC evaluated the performance of our President and CEO, and of our other Named Executive Officer's ("NEOs") relative to their respective individual objectives. Their objectives in 2025 were focused on strategy and implementation, operational effectiveness and sustainability, capital allocation and balance sheet management, continued visible and effective leadership, and further strengthening the corporate culture and values with inclusive practices and Purpose, Vision, Mission realignment.

In 2026, IAMGOLD remains committed to its strategic ambitions of becoming a leading mid-tier, modern gold mining company. We will continue to put safety, responsibility and people first as we focus on delivering the improvements in performance across all aspects of our business that generate long-term value for stakeholders.

Sincerely,

L. Peter O'Hagan (Chair)

COMPENSATION DISCUSSION AND ANALYSIS

This CD&A describes IAMGOLD's approach to executive compensation and outlines the compensation program, policies, objectives, processes, and decisions behind NEO pay during the year ending December 31, 2025.

COMPENSATION PHILOSOPHY AND GUIDING PRINCIPLES

IAMGOLD's compensation philosophy reinforces our culture of performance and operational excellence, creating value for shareholders. The executive compensation program is designed to focus, inspire, motivate and retain the leadership team in support of achieving both short- and long-term objectives. Rewards are tied to a clearly articulated set of guiding principles that align with the Corporate business strategy and objectives, with pay for performance at the core.

Components of Executive Compensation

IAMGOLD's executive compensation program rewards different aspects of performance critical to the execution of the Corporation's strategy. The objectives of each element are linked to IAMGOLD's guiding principles and provide a competitive compensation program that attracts and retains key talent to deliver on short-term objectives and the long-term strategic plan.

Target Total Direct Compensation

The table below summarizes the target total direct compensation arrangements in place as of December 31, 2025.

(1) CIP payouts range from 0% for below threshold performance to a maximum of 200% of target value, depending on the actual performance achieved.

(2) EIP target is comprised of 60% PSUs and 40% RSUs. PSUs are paid out based on performance conditions related to relative TSR and average ROIC performance targets over a 3-year period from 2026 - 2028. The payout ranges from 0% for below threshold performance to a maximum of 200% for above target performance.

(3) Annie Torkia Lagacé joined as Chief Legal and Strategy Officer on February 3, 2025. Ms. Torkia Lagacé`s target compensation amounts reflect full-year values.

Consistent with the Corporation's pay for performance philosophy, a significant portion of target compensation is "at risk", with an emphasis on long-term incentives to align compensation with shareholder interests.

Benchmarking

The Corporation's executive compensation programs are benchmarked against similar organizations and designed to attract and retain global talent and remain competitive in markets where the Corporation operates. The Corporation targets market median compensation for fully functioning incumbents for expected levels of performance. Market data serves as a reference point, along with other factors, to which the HRCC compares the compensation of each Executive to the Peer Group to set executive compensation levels commensurate with performance and experience levels. The Peer Group is also used as a benchmark for compensation trends and market practices.

Peer Group

The HRCC works with WTW (the Committee's independent compensation consultant, whose role is discussed further in "Compensation Program Oversight") to create and maintain an appropriate Peer Group of relevant companies for comparison purposes. The Corporation considers organizations that are similar in size, scope and complexity of operations and are representative of the market within which it competes for executive talent.

When selecting comparators for IAMGOLD's compensation Peer Group, the Corporation applies the following established criteria:

The composition of the Peer Group is regularly reviewed to determine if any changes are required. As a result of the 2025 review, the HRCC determined no changes were required given that the existing Peer Group remains robust.

IAMGOLD's revenue was positioned at the 72^nd percentile of the 2025 Peer Group.

Dollar amounts shown in this table are presented in millions of US dollars. Data is sourced from Standard & Poor's Capital IQ.

COMPENSATION GOVERNANCE AND RISK MANAGEMENT

IAMGOLD's compensation programs and practices were established to ensure strong alignment of pay with the long-term success of the organization. Key governance and risk mitigating features of the Corporation's executive compensation program are outlined in the table below. Each year, the practices are reviewed against changing regulations and emerging best practices to ensure continued alignment with shareholder interests.

The compensation framework clearly prohibits:

• Repricing or backdating of options.

• Hedging or monetizing of equity awards.

• Multi-year guarantees in employment agreements.

• Severance provisions of more than two years on termination following a change of control, or single trigger vesting of equity awards for those employed under existing executive agreements.

Risk Assessment

The HRCC and the Board regularly review and evaluate potential risks to the Corporation resulting from executive compensation based on an assessment framework that includes:

• Pay philosophy and practices

• Design of the programs

• Performance measurement

• Compensation governance

In 2025, the HRCC engaged WTW to update the compensation program risk assessment. Based on this review, neither the HRCC nor the Board has identified any potential risks associated with the compensation policies or practices of the Corporation that would be reasonably likely to have a material adverse effect on the Corporation.

Clawback Policy

In compliance with NYSE listing requirements, the Corporation's Clawback Policy addresses restatements of the Corporation's financial results due to material non-compliance with financial reporting requirements under securities laws. In the event of such a restatement, the Corporation will recover any amounts paid to current and former executive officers within the prior three-year period for incentive-based compensation received by the executive officer that exceeds the amount of incentive-based compensation that otherwise would have been received had it been determined on the restated amount. The policy covers all incentive-based compensation (including any cash or equity compensation) that is granted, earned or vested based wholly or in part upon the attainment of any financial reporting measure.

In addition, if a restatement or adjustment results from an act of fraud, misrepresentation, malfeasance, or gross negligence on the part of the executive, the executive will be liable if convicted of any crime involving fraud, willful misrepresentation, or gross negligence, to the Corporation for any damages suffered by the Corporation as a result of such wrongdoing. The executive may be further disciplined up to or including termination for cause.

Stock Trading Policy

Under the Corporation's Stock Trading Policy, officers and directors are prohibited from engaging in hedging or similar transactions designed to reduce or limit economic risk associated with holdings of the Corporation's equity-based securities, including Common Shares, PSUs, RSUs and stock options.

Executive Share Ownership Guidelines

IAMGOLD has share ownership guidelines to further align Executives and shareholder interest. The guidelines vary by executive level and are defined as a multiple of base salary. Share ownership includes the accumulation of common shares, as well as unvested RSUs. The ownership level is to be attained within five years of the later of joining the Corporation and appointment to the applicable executive level.

The 2025 executive share ownership guidelines are as follows:

As of December 31, 2025, active NEOs, except for the CLSO⁽¹⁾, met their share ownership guidelines as indicated below:

(1) Annie Torkia Lagacé joined as Chief Legal and Strategy Officer on February 3, 2025. Ms. Torkia Lagacé is within the compliance period and has until February 3, 2030 to meet the share ownership guideline.

(2) The value of common shares and unvested RSUs are based on December 31, 2025 closing price of $22.65 on the TSX, the last trading day of 2025.

(3) Excludes unvested RSUs.

Effective January 1, 2025, the executive share ownership guideline policy was amended to remove unvested PSUs from counting toward compliance, and to increase the time within which executives must achieve the required level of shareholding from three to five years.

COMPENSATION PROGRAM OVERSIGHT

IAMGOLD has a strong foundation of good governance practices and oversight that strengthens risk mitigation and supports IAMGOLD's pay for performance philosophy.

Role of HRCC

The HRCC assists the Board in its oversight of the Corporation's executive compensation practices, including the administration of the Corporation's EIP.

The HRCC is composed of a minimum of three (3) directors, each of whom is independent within the meaning of applicable securities laws, policies, and stock exchange rules. In addition, in keeping with governance best practices, the HRCC collectively possess experience and expertise in human resources, talent management, compensation, governance and risk management oversight.

To ensure good governance and mitigate risk in the HRCC's oversight responsibilities, the HRCC collectively has overlapping committee membership across certain of IAMGOLD's Board committees including the Audit and Finance Committee, and the Sustainability Committee.

As of the date of the Circular, the HRCC is composed of the following independent directors:

• L. Peter O'Hagan (Chair)

• Ann Masse

• David Smith

Collectively, the members of the HRCC have acquired experience in human resources and executive compensation by virtue of their extensive tenures as Senior Executives of publicly traded companies and/or members of boards of directors and human resources/compensation committees of other public companies. For more details on the background of the HRCC members, see "Board of Directors".

As part of its Board approved mandate, the HRCC reviews the following each year:

The HRCC met 7 times in 2025. In executing its mandate, the HRCC:

• Assessed the effectiveness of the existing compensation plan, including a review of the Corporation's compensation philosophy, methodology and program design to ensure alignment with the Corporation's strategic priorities.

• Approved the peer group of issuers that is to be used for executive compensation benchmarking purposes under the advisement of the Corporation's independent compensation consultants, WTW.

• Recommended to the Board for approval the executive compensation incentive plan design for the CIP and EIP. Approved CIP and EIP awards based on approved budgets and the corporate strategy adopted by the Board.

• Assessed the performance of Executives against their individual objectives and the executive compensation plan.

• Recommended to the Board for approval the compensation payable, according to the executive compensation plan, the individual performance of the CEO and the CEO's recommendation for the other Executives, taking into consideration appropriate pay-for-performance alignment of the compensation of the CEO and other Executives.

• Reviewed various human capital topics, policies and programs including:

- Executives' compliance with their minimum share ownership guidelines.

- Succession plans for the CEO and other Executives and updated development plans.

- Potential for any material risks arising from the executive compensation plan.

- Overview of pension, benefits and wellness program initiatives.

- Discretionary equity plan pool awards and program overview.

- Human capital priorities update, including a review of workforce talent and EDI trends, risks, attraction and retention, and key performance indicators.

- Inclusion initiatives.

• Engaged the services of an external compensation consultant, WTW, to provide independent advice and expertise on executive compensation matters.

• Included in-camera sessions for all meetings as independence from management is fundamental to IAMGOLD's effectiveness in managing executive compensation programs.

Compensation Decision-Making Process

The annual compensation decision-making cycle provides a rigorous process to ensure final compensation is fair and equitable.

Role of Management

The Board reviews and discusses the assessments of performance completed by the CEO and Executives. Final compensation decisions for the CEO and Executives are made by the Board.

With respect to the CEO, the HRCC evaluates the CEO's performance and makes recommendations to the Board regarding the CEO's compensation. With respect to the Executives, the CEO provides recommendations to the HRCC regarding base salary adjustments, if any, and awards under the Corporation's CIP and EIP. The CEO does not provide recommendations regarding his own compensation.

Compensation Consultant

The HRCC retains compensation consultants from time to time to provide expert and independent advice regarding compensation policies and decisions. WTW was first retained by the Corporation in 2011 and the HRCC continues to use WTW for executive compensation services. WTW's executive compensation consultants report directly to the HRCC and are independent of management. The HRCC regularly confirms WTW's independence by reviewing the factors set out by the Securities and Exchange Commission ("SEC") that compensation committees should consider when selecting and monitoring the independence of their compensation consultants including the following criteria:

• Members of the WTW executive compensation consulting team are not involved in selling other WTW services to IAMGOLD and receive no incentive or other compensation based on the fees charged to IAMGOLD for such other services.

• WTW's executive compensation consultants do not have a business or personal relationship with any of the HRCC members or management, and do not own any Common Shares (other than possibly through portfolio investments such as mutual funds).

• WTW has strict protocols and processes to mitigate conflicts of interest and all consultants are required to adhere to a code of conduct.

HRCC decisions and recommendations to the Board are its responsibility and reflect committee members' views of the best interests of the Corporation, as informed by information and recommendations provided by compensation consultants.

In 2025, WTW supported the HRCC in reviewing meeting materials prepared by management and attending certain HRCC meetings. Some of the areas undertaken by WTW included: reviewed the executive compensation and performance peer groups, conducted an update to the risk assessment review of the Corporation's executive compensation program, provided market compensation data for Executives, provided advice and support in developing compensation arrangements for executive roles, reviewed the incentive compensation plans, advised on executive compensation trends and best practices, and provided assistance related to the executive compensation disclosure. To ensure its independence from management is not compromised, the HRCC pre- approves non-compensation services provided to the Corporation by WTW.

(1) "Other Fees", are related to broader employee and pension consulting support in 2025 and communication support related to the Management Information Circular in 2024.

COMPENSATION DECISIONS RELATED TO 2025 PERFORMANCE

2025 Total Direct Compensation Decisions

Total Direct Compensation for each executive is based on several factors, including individual performance, leadership, global responsibilities, experience, education, succession planning considerations, competitive pressures, and internal equity.

The following section provides a detailed discussion of the decisions made to determine each NEO's total direct compensation for 2025.

(1) CIP and EIP awards were made in early 2026 in relation to 2025 performance.

Base Salary

In 2025, as part of the annual review process the following decisions were made related to the NEO's base salaries.

(1) Annie Torkia Lagacé joined as Chief Legal and Strategy Officer on February 3, 2025.

Cash Incentive Plan (CIP)

IAMGOLD is committed to its philosophy of pay for performance based on the fundamental premise that compensation should be directly correlated to the performance of the Corporation. To support this philosophy, IAMGOLD's CIP rewards Executives for the achievement of annual performance objectives. Performance criteria established by the HRCC will vary based on priorities for the year and can include a combination of financial, operational, strategic, growth and ESG metrics for a balanced view of performance.

The CIP rewards Executives based on company performance results and individual results. For NEOs other than the CEO, the Company Scorecard results account for 70% and individual performance results account for 30% of the CIP award. For the CEO, the weighting is 80% Company Scorecard and 20% individual.

While target levels of performance on CIP metrics are established as parameters, the Board can apply informed judgment to increase or decrease the CIP awards from the formula-based calculations to reflect the Corporation's and the Executive's performance for that year as well as the HRCC's long-term assessment which recognizes that current year performance is influenced by multi-year activities.

2025 Company Scorecard and Results

The Corporation's CIP key performance indicators are reviewed by the HRCC and stretch targets are established at the beginning of each year, in line with the Corporation's budget and longer-term strategy. The Company Scorecard is aligned throughout the organization with weightings set depending on level within the organization.

Details of the 2025 Company Scorecard results are outlined in the table below:

	Metrics	Weight	2025 Performance Range			2025 Results	2025 Score	2025 Weighted Score
			Threshold (50%)	Target (100%)	Maximum (200%)
	Attributable Gold Production (1) – Côté Gold, Essakane and Westwood	12.5%	760koz	820koz	867koz	765,097 oz	54.9% (adjusted to 65.2%)(1)	6.87% (adjusted to 8.15%)(1)
	Operating Cost	12.5%	$1,450 / oz	$1,315 / oz	$1,200 / oz	$1,562 / ounce	0.0%	0.0%
	Capital Costs (1)	7.5%	$245M	$225M	$205M	$248M	0.0% (adjusted to 63.1%)(1)	0.0% (adjusted to 4.73%)(1)
	Reserve Replacement	7.5%	255koz	375koz	500koz	14koz	0.0%	0.0%
	Achieve free cash flow	10.0%	$300M	$450M	$600M	$1,000M	200.0%	20.0%
	Reduce debt carrying cost	10.0%	from 8.9% by 1.5%	from 8.9% by 2.0%	from 8.9% by 2.5%	Above performance	200.0%	20.0%
	Resource Growth (Gosselin, Nelligan and Monster Lake)	7.5%	500koz	1Moz	2Moz	509koz	50.9%	3.82%
	Unlocking Côté Gold	7.5%	Selected Mining Plan from scenario planning	New Mining Plan and Business Case Value Proposal	New Mining Plan, Business Case Update and Approved Study Execution Plan	Above performance	200.0%	15.0%
	Health and Safety Leading Indicator: Critical Risk Integration and Verification	10.0%	Phase II rollout plans and workforce engagement. Verification tool developed.	Verification tool exposure to the workforce [85+%]; and Contractor CRM orientation for embedded contractors	100% of site verification targets (H2); and integration of CRM into contractor procurement, verification and evaluation	At target	100.0%	10.0%
	Water – Advancement of catchment-based Water Framework and Zero Harm Scorecards for each site.	5.0%	Maturity assessment against new standard	Advancement of roadmap (10% maturity improvement)	Development of Zero Harm Water Scorecards	Above performance	200.0%	10.0%
	Energy and Climate Change	5%	Energy Management System (EMIS) in 2026 budget for each site.	Cost of carbon embedded into decisional process.	Start Phase 1 of EMIS Implementation	Above performance	200.0%	10.0%
	EDI: Advance representation of women across IAMGOLD through increased talent attraction and reduced voluntary turnover of women	5.0%	18% global hire rate of women	20% global hire rate of women	20% global hire rate and 1% reduction of global voluntary turnover of women	At threshold	50.0%	2.5%
	Total	100%						98.2%
	Informed judgement by the Board (+6%) (1)							104.2%

(1) In exercising its discretion, the Board determined that an adjustment to the Corporation's overall performance factor from 98.2% to 104.2% was appropriate to better represent corporate performance. The total adjustment of 6.0% was attributable to specific metric-level considerations, including (i) an approximate 1.28% adjustment to the Gold Production metric to reflect the unplanned transfer of ownership interests to the Government of Burkina Faso in Essakane, and (ii) an approximate 4.73% adjustment to the Capital Costs metric to reflect the impact of deliberate capital decisions made in support of the Corporation's long-term business strategy that adversely affected short-term results.

Details of the 2025 Company Scorecard results are outlined in the table below: 

Individual Performance

Individual performance for the Executives is reviewed first by the CEO with feedback from the HRCC, taking into consideration the accomplishment of the functional goals established by the CEO and approved by the Board for the relevant year. Each Executive's performance is assessed in the areas of leadership, teamwork, innovation, general and administrative cost management, and other individual objectives for the year, and is scored within 0% to 200%.

Consistent with its mandate, the HRCC reviews and evaluates the CEO's and other Executives' individual performance on the same basis and makes a recommendation to the Board for its consideration and approval. In assessing each individual NEO's performance, the HRCC and the Board considered the individual achievements, as compared to their individual objectives, the Corporation's global performance, and the compensation recommendations for each of the CEO's direct reports. Overall, each NEO achieved and/or exceeded performance against their individual goals.

(1) Annie Torkia Lagacé joined as Chief Legal and Strategy Officer on February 3, 2025.

2025 CIP Awards

(1) Annie Torkia Lagacé joined as Chief Legal and Strategy Officer on February 3, 2025. Her CIP Target and 2025 CIP Award were prorated taking into consideration the hiring date.

Equity Incentive Plan (EIP)

The EIP is designed to support shareholder experience by rewarding long-term sustained performance. Effective for awards granted in 2026 and thereafter, the Corporation has eliminated the use of stock options under its long-term incentive ("LTI") program and revised the LTI mix to consist exclusively of PSUs and RSUs, with target award weightings of 60% PSUs and 40% RSUs.

The Corporation has eliminated stock options from its LTI program following the HRCC's review of compensation design and incentive effectiveness. The HRCC concluded that, in the current market environment, stock options are less effective than alternative LTI vehicles in delivering sustained incentive value and aligning executive compensation with long-term shareholder interests. This revised design increases the emphasis on performance- based compensation, aligns with evolving market and peer practices, and reduces potential Shareholder dilution, as fewer share units are required to deliver equivalent compensation through full value share units compared to stock options.

EIP Formula

The formula used to determine EIP awards is illustrated below:

Grant Allocation - EIP Vehicles Summary

The composition of the 2025 EIP grants awarded in 2026 is set out below along with a summary of the features of each vehicle.

Further to recent amendments to the Corporation's Share Incentive Plan, LTI awards may be settled, at the Corporation's discretion, in cash, common shares, or a combination thereof, following the completion of the applicable performance or vesting period. This flexibility is intended to manage dilution while providing the Corporation with additional settlement alternatives on a go-forward basis.

Stock options granted prior to implementation of the revised LTI design remain outstanding and will continue to vest and be exercisable in accordance with their original terms and conditions.

As indicated in the table above, the vehicles have staggered and overlapping vesting schedules to ensure that Executives continually focus on future value creation. The EIP awards are approved in the first quarter following the performance year, with actual grants normally made soon after the Board's approval of the awards.

PSU Performance Measures

The two PSU performance metrics used for the 2025 EIP awards were consistent with those used for 2024, measuring IAMGOLD's total shareholder return ("TSR") performance relative to the S&P/TSX Global Gold Index (relative TSR weighted 75%) and the Corporation's capital efficiency relative to the Corporation's three-year plan (ROIC weighted 25%). The three-year cliff-vesting applicable to both metrics is aligned with the three-year performance period used to determine final vesting.

(1) For relative TSR performance between the 25^th, 50^th and 85^th percentiles of the Index, the payout is interpolated on a linear basis.

(2) For ROIC performance between threshold, target and maximum, the payout is interpolated on a linear basis.

(3) EBIT is calculated excluding financing, tax, and exploration expenses and corresponds with the realized earnings margin inclusive of depreciation expense.

(4) Invested capital is calculated including Current Assets, PP&E and the long-term portion of stockpile inventories, less cash and cash equivalents and current liabilities other than debt. The average invested capital will be calculated over 13 quarters with the first quarter representing the opening balance.

2025 EIP Awards

The number of share units was determined based on the volume-weighted average closing price of the Corporation's Common Shares on the TSX for the five consecutive trading days ending February 26, 2026, of $31.22. The market value of the grant is calculated using the closing price of the Common Shares on the TSX on the date of grant, February 27, 2026, of $33.56.

The table below summarizes the 2025 EIP awards granted in 2026.

(1) Annie Torkia Lagacé joined as Chief Legal and Strategy Officer on February 3, 2025. The EIP Grant Value was prorated taking into consideration the hire date.

In addition to the above, as the equity grants are awarded in the subsequent year on a backward-looking basis, as per Ms. Torkia Lagacé's employment agreement, the Board approved a one-time grant of PSUs valued at $500,000, with a grant date fair value of $490,163 (61,501 units), at the time of her appointment in February 2025 to provide an appropriate long-term incentive opportunity aligned with her service during fiscal 2025. The performance-based equity compensation awarded to Ms. Torkia Lagacé also aligned the CLSO's interests with those of the shareholders and increasing shareholder value with the vesting tied to the achievements of performance metrics consistent with those applicable to other senior executives of the Corporation (the "CLSO Welcome Grant").

SHARE PERFORMANCE GRAPH

The following graph compares the cumulative total return for $100 invested in Common Shares of the Corporation on the TSX on December 31, 2020, with the cumulative total return of the S&P/TSX Composite Index and the S&P/TSX Global Gold Index for the five most recently completed financial years.

IAMGOLD Cumulative Value of $100 Investment versus Relevant Market Indices

December 31, 2020 to December 31, 2025

When comparing the trend in compensation to the trend in the Corporation's share price performance, it is important to highlight that the largest component of IAMGOLD's NEOs compensation is in the form of equity- based compensation and therefore is closely aligned with shareholder experience.

SUMMARY COMPENSATION TABLE

The following table sets out total compensation for the NEOs in the most recently completed financial year as well as the two previous financial years.

(1) All NEOs receive their compensation in Canadian dollars.

(2) The EIP values, other than options, reflect the market value of the award on the grant date. For 2025, the number of units was determined using $31.22 which is the 5-day volume-weighted average closing price ending February 26, 2026. For 2024, the number of units was determined using $8.13 which is the 5-day volume-weighted average closing price ending February 27, 2025 (i.e., in 2024, the period of measurement for the volume-weighted average closing price was changed to 5 days from 20-days before 2024). For 2023, the number of units was determined using $3.39 which is the 20-day volume- weighted average closing price ending February 27, 2024. For 2025, the grant date was February 27, 2026, and the fair value was $33.56. For 2024, the grant date was February 28, 2025, and the fair value was $7.97. For 2023, the grant date was February 28, 2024, and the fair value was $3.50.

(3) Represents the option value granted to the NEOs. The Black-Scholes model is used to calculate the value of the options. No stock options were granted in respect of the 2025 compensation year, as the Corporation eliminated stock options from its long-term incentive program for awards granted in 2026 and thereafter. The 2024 grant value was calculated using the Black-Scholes model and the following assumptions: volatility - 56.17%, dividend yield - 0%, interest rate - 2.66%, expected life - 4.5 years and exercise price $7.87 based on IAMGOLD's closing price on the TSX the trading day preceding the date of grant (February 27, 2025) and a fair value of $3.79. The 2023 grant value was calculated using the Black-Scholes model and the following assumptions: volatility - 58.25%, dividend yield - 0%, interest rate - 3.63%, expected life - 4.5 years and exercise price $3.67 based on IAMGOLD's closing price on the TSX the trading day preceding the date of grant (February 27, 2024) and a fair value of $1.86.

(4) Represents the CIP bonuses paid to the NEOs. CIP bonuses were calculated and awarded as described in the CIP section and are paid out the following year for the previous year's performance.

(5) Represents the employer contributions to the NEOs' pension plan.

(6) Includes employer contributions to the Share Purchase Plan, additional disability insurance premium and perquisites available exclusively to the NEOs. For Mr. Adams, employer contributions to the Share Purchase Plan were $35,004, additional disability insurance premiums were $89,372, and risk benefits were $19,063. For Mr. Lemelin, employer contributions to the Share Purchase Plan were $23,629, additional disability insurance premiums were $31,707, and risk benefits were $12,339. For Mr. Theunissen, employer contributions to the Share Purchase Plan were $20,402 and risk benefits were $12,339. For Ms. Torkia Lagacé, risk benefits were $17,218 and flight passes were $17,545. For Ms. Quinn, employer contributions to the Share Purchase Plan were $15,750, additional disability insurance premiums were $20,096 and risk benefits were $21,621.

(7) Ms. Torkia Lagacé joined as CLSO on February 3, 2025. The amount of share-based award for Ms. Torkia Lagacé reflects the CLSO Welcome Grant awarded in February 2025 and the 2025 EIP Award granted in February 2026.

Cost of Management

The table below shows the link between the Corporation's performance and the NEO's compensation by comparing the Total Cost of the NEOs' compensation with Operating Cash Flow and Total Equity, over the last three years.

(1) Represents the total compensation as disclosed in the Summary Compensation Table. Only the five current NEOs at the end of each year are included in the "total cost of NEOs' compensation" figure above.

INCENTIVE PLAN AWARDS

Outstanding Share-based Awards and Option-based Awards

The following table sets out all option-based and full value share-based awards held by the NEOs and that were outstanding as of December 31, 2025. The value of these awards is calculated using the closing market Common Share price on the TSX of $22.65 as of December 31, 2025, the last trading day of 2025.

(1) Annie Torkia Lagacé joined as Chief Legal and Strategy Officer on February 3, 2025.

Value of Vested or Earned Awards during the Year

The table below shows the aggregate value of options and full value share-based units that vested during 2025. For the options, the value was determined based on the difference between the market price on the vesting date and the exercise price at the time of grant. For the full value share-based units, the value was determined by multiplying the number of units vested by the market value of the underlying Common Shares on the vesting date.