Reply To: Gold Producers like Kinross, Newmont, B2Gold etc.

2025 First Quarter Highlights

• Gold production of 192,752 ounces in Q1 2025: Consolidated gold production in the first quarter of 2025 was 192,752 ounces, higher than expected. All B2Gold operations exceeded production budgets in the first quarter, and the Company remains on track to meet its consolidated annual production guidance range. All three operations continue to meet or exceed gold production expectations to start the second quarter of 2025.
• Consolidated cash operating costs of $832 per gold ounce produced in Q1 2025: Consolidated cash operating costs (see “Non-IFRS Measures”) were $832 per gold ounce produced ($880 per gold ounce sold) during the first quarter of 2025. Cash operating costs per ounce produced for the first quarter of 2025 were lower than expected as a result of lower than expected fuel costs and higher than expected gold production.
• Consolidated all-in sustaining costs of $1,533 per gold ounce sold in Q1 2025: Consolidated all-in sustaining costs (see “Non-IFRS Measures”) were $1,533 per gold ounce sold during the first quarter of 2025. Consolidated all-in sustaining costs for the first quarter of 2025 were lower than expected due to lower than expected total consolidated cash operating costs per gold ounce sold and lower than expected sustaining capital expenditures.
• Attributable net income of $0.04 per share; adjusted attributable net income of $0.09 per share in Q1 2025: Net income attributable to the shareholders of the Company of $58 million, or $0.04 per share; adjusted net income (see “Non-IFRS Measures”) attributable to the shareholders of the Company of $122 million, or $0.09 per share.