Iamgold Corporation Ordinary Shares

Thank you for standing by. This is the conference operator. Welcome to the I Am Gold fourth quarter 2025 operating and financial results conference call and webcast. As a reminder, all participants are in a listen-only mode. The conference is being recorded. After the presentation, there will be an opportunity to ask questions. To join the question queue, you may press star and then one on your telephone keypads. Should you need assistance during the conference call, you may reach an operator by pressing star and zero. At this time, I would like to turn the conference call over to Graham Jennings, Investor Relations for IAM Gold. Please go ahead, Mr. Jennings.

Thank you, Operator, and welcome everyone to our conference call this morning. Joining us on the call are Renaud Adams, President and Chief Executive Officer, Martin Penusen, Chief Financial Officer, Bruno Lemelin, Chief Operating Officer, Annie Torquay-Legacy, Chief Legal and Strategy Officer, and Doreena Quinn, Chief People Officer. We are calling today for Mayan Gold's Toronto office, which is located on Treaty 13 territory, on the traditional lands of many nations, including the Mississaugas of the Credit, the Anishinaabeg, the Chippewa, Haudenosaunee, and the Wendat peoples. At Mayan Gold, we believe respecting and upholding Indigenous rights is founded upon relationships that foster trust, transparency, and mutual respect. Please note that our remarks on this call will include forward-looking statements and refer to non-IFRS measures. We encourage you to refer to the cautionary statements and disclosures on non-IFRS measures, including the presentation and the reconciliations of these measures in our most recent MD&A, each under the heading Non-GAAP Financial Measures. With respect to the technical information to be discussed, please refer to the information in the presentation under the heading Qualified Person and Technical Information. The slides referenced on this call can be viewed on our website. I will now turn the call over to our President's CEO, Renaud Adams.

Thank you, Graham, and good morning, everyone, and thank you for joining us today. Last year was a monumental year for IMGO. It is a year in which the company reported records revenues of nearly $3 billion, enjoying gross margin of over 40% and generating operating cash flow of over $1 billion, which is notable, $702 million generated in the fourth quarter alone. Now, everyone on this call is aware that this is a historic time in the gold market, as the gold price increased nearly $1,700 per ounce over 2025 and exiting the year at just over $4,300 an ounce, but which is still more than 600 an ounce lower than where we are today. So while we're not alone in realizing this gold market, we believe IAM Gold is particularly well-positioned to capitalize on this market for the benefit of our shareholders, stakeholders, and partners. In 2025, IAM Gold achieved significant milestones, including record quarterly productions across all sites, the first full year of productions at Cote d'Ivoire, the establishment of a framework at its account that enables cash movements to be made at any time of the year, and the consolidation of assets in Chibouga-Moshepe, Quebec, to position the Nelligan Mining Complex as among the largest pre-production assets in Canada. On the financial side, we closed out the legacy gold prepay obligation mid-year, delivered 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 IAM Gold shares in December and an additional 50 million so far in 2026. And we will continue to do so, driving up our per share valuations, all things being equal. This is a company that is taking a leadership position in the industry. IAM Gold is a modern gold mining company that is proudly Canadian with strong cash flow and significant long-term growth opportunities ahead. We mine with the mining redefined purpose in mind, putting safety, responsibility, and people first. We hold ourselves accountable and embrace change, and drive innovations at every level, from smarter systems to better ways of working. Now, there are many highlights to discuss for IAMGOLD today, so let's get into it. Looking at the highlights from the year and the fourth quarter, we start with our safety record. Over the course of the year, our total recordable injury rates was 0.60, which was down from the year prior. We are focused on advancing our critical risk management program, including an important integration of contractor into the IAM goal way of safety management with a goal to reduce high potential incidents On production, IM Gold closed out the year with a very strong fourth quarter in which all our mines reported record gold production. On a consolidated basis, attributable gold productions for the fourth quarter was 242,400 ounces, a 28 percent improvement quarter over quarter, driving total production for the year to 765,900 ounces. achieving the midpoint of the company's 2025 production guidance. The strong fourth quarter operating result helped to drive down costs on a per-ounce basis. All in sustaining costs per ounce sold was $1,750 for the fourth quarter and $1,900 for the year within the guidance range of 1830 to 1930. As discussed last year, last quarter, costs this year have faced upward pressure due to the record gold prices directly translating to higher royalties. The impact of these royalties on cash costs continue to increase through the year to where they accounted for an average of approximately $330 per ounce or 24% of cash costs in the fourth quarter of 2025. As we look ahead, Through this year, where we will uncover opportunities to grow the value of our assets, we will stay diligent on our commitment to operational excellence and discipline. While we may not be able to control the gold price, we can control our cost structure and ensure that cost improvement and opportunity compound with our production. At Cote, we will continue to fine-tune our mining, milling, and maintenance practices to position the project well for the upcoming expansion phase. With that, I will pass the call over to our CFO to walk us through our financial highlights.