IMG.TO · 2020-09-09 12:00:00

Iamgold Announce S Pricing of $450 Million of 5.750 % Senior Notes Due 2028

Financings Debt & Credit Facilities

NEWS RELEASE

TSX:

IMG

NYSE:

IAG

IAMGOLD ANNOUNCE

S PRICING OF $450 MILLION OF 5.750

% SENIOR NOTES DUE 2028

All amounts are in US dollars, unless otherwise indicated.

Toronto, Ontario,

September

, 2020

–

IAMGOLD Corporation (“IAMGOLD” or the “Company”)

today

announced

that it has priced a private offering of $450 million aggregate principal amount of senior notes

due 2028 (the "Notes

"). The Notes bear interest at 5.750

% per annum and

are being issued at a price of

100%

of their face amount, providing the Company with gross proceeds of $

450

million.

The offering of the

Notes is expected to

close on or about September 23

, 2020, subject to customary closing conditions.

IAMGOLD intends to

use the net proceeds from the offering of the Notes to fund the Tender Offer and

Redemption (in each case as defined below), and to use the remainder of the net proceeds for general

corporate purposes.

As previously announced, IAMGOLD has commenced a tende

r offer (the “Tender Offer”) to purchase for

cash any and all of its outstanding 7.000% Senior Notes due 2025 (the “Existing Notes”), subject to,

among other conditions, the successful completion of the offering of the Notes. Concurrently with the

launch o

f the Tender Offer, pursuant to the terms of the indenture governing the Existing Notes, IAMGOLD

issued a conditional notice of redemption pursuant to which it will redeem any Existing Notes not tendered

in the Tender Offer, subject to the successful compl

etion of the offering of the Notes.

The Notes have not been and will not be registered under the United States Securities Act of 1933, as

amended (the "Securities Act"), or the securities laws of any state and may not be offered or sold in the

United Stat

es absent registration under the Securities Act or an applicable exemption from the registration

requirements thereof. The Notes will be offered and sold in the United States only to qualified institutional

buyers in accordance with Rule 144A under the Sec

urities Act and outside the United States in reliance on

Regulation S under the Securities Act. The Notes will be offered and sold in Canada on a private

placement basis pursuant to certain exemptions from applicable Canadian securities laws.

This news rel

ease does not constitute an offer to sell or a solicitation of an offer to buy the Notes in the

United States or any other jurisdiction, nor shall there be any sale of the Notes in any jurisdiction in which

such offer, solicitation or sale would be unlawfu

l prior to registration or qualification under the securities

laws of any such jurisdiction or an exemption therefrom. This news release does not constitute an offer to

purchase, or a notice of redemption in respect of, the Existing Notes. This news releas

e contains

information about pending transactions, and there can be no assurance that these transactions will be

completed.

AUTIONARY

TATEMENT ON

ORWARD

OOKING

NFORMATION

This news release contains forward

looking statements. All

statements, other than of historical fact, that address activities,

events or developments that the Company believes, expects or anticipates will or may occur in the future are forward

looking

statements, including the completion and timing of this offerin

g and the intended use of proceeds from the offering of the

Notes to fund the Tender Offer and Redemption. They are forward

looking because they are statements about the future that

are based on what the Company knows and expects today. Forward

looking sta

tements are generally identifiable by use of

the words "may", "will", "should", "continue", "expect", "anticipate", "outlook", "guidance", "estimate", "believe", "intend"

, "plan"

or "project" or the negative of these words or other variations on these word

s or comparable terminology. Forward

looking

statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or

predict, that may cause the actual results of the Company to differ materially from tho

se discussed in the forward

looking

statements, including, but not limited to, conditions in financial markets and risks discussed in the risk factors section in

IAMGOLD's most recent Form 40

F/Annual Information Form and in IAMGOLD’s Management’s Discussi

on and Analysis for

the three and six months ended June 30, 2020, in each case, on file with the SEC and Canadian provincial securities

regulatory authorities. Accordingly, readers should not place undue reliance on forward

looking statements. IAMGOLD

disc

laims any intent or obligations to update or revise publicly any forward

looking statements whether as a result of new

information, estimates or options, future events or results or otherwise, unless required to do so by law.

About IAMGOLD

IAMGOLD is a mi

tier mining company with three gold mines on three continents, including the Essakane

mine in Burkina Faso, the Rosebel mine in Suriname, and the Westwood mine in Canada. A solid base of

strategic assets is complemented by the Côté Gold development proje

ct in Canada, the Boto Gold

development project in Senegal, as well as greenfield and brownfield exploration projects in various

countries located in West Africa and the Americas. On July 21, 2020, the Company, together with joint

venture partner Sumitomo

Metal Mining Co. Ltd., announced the decision to proceed with the construction

of the Côté Gold Project.

IAMGOLD is committed to maintaining its culture of accountable mining through high standards of ESG

practices and employs approximately 5,000 people.

IAMGOLD’s commitment is to Zero Harm, in every

aspect of its business. IAMGOLD is one of the companies on the JSI index.

IAMGOLD is listed on the Toronto Stock Exchange (trading symbol “IMG”) and the New York Stock

Exchange (trading symbol “IAG”).

For fur

ther information please contact

Indi Gopinathan,

VP, Investor Relations & Corporate Communications, IAMGOLD Corporation

Tel: (416) 360

4743 Mobile: (416) 388

6883

Philip Rabenok

, Senior Analyst, Investor Relations, IAMGOLD Corporation

Tel: (416) 933

5783

Mobile: (647) 967

9942

Toll

free: 1

888

464

9999

[email protected]

Please note:

This entire news release may be accessed via fax, e

mail, IAMGOLD's website at

www.iamgold.com

and through Newsfil

e’s website

www.newsfilecorp.com

. All material information on IAMGOLD can be found at

www.sedar.com

or at

www.sec.gov

Si vous désirez obtenir la version française de ce communiqué, veuillez consulter le

ttps://www.iamgold.com/French/accueil/default.aspx

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