B2Gold Stories This autumn and Full Yr 2024 Outcomes; Achieved 2024 Complete Gold Manufacturing and Consolidated Price Steering; Goose Mission Stays On Monitor for First Gold in Q2 2025 and Complete Capital Estimate Stays at C$1,540 Million; Q1 2025 Dividend of US$0.02 per Share Declared

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VANCOUVER, British Columbia, Feb. 19, 2025 (GLOBE NEWSWIRE) — B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) (“B2Gold” or the “Firm”) proclaims its operational and monetary outcomes for the fourth quarter and full 12 months 2024. The Firm beforehand launched its gold manufacturing and gold income outcomes for the fourth quarter and full 12 months 2024. All greenback figures are in United States {dollars} until in any other case indicated.

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2024 Fourth Quarter and Full Yr Highlights

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• Q1 2025 dividend of $0.02 per share declared: On February 19, 2025, B2Gold’s Board of Administrators declared a money dividend for the primary quarter of 2025 of $0.02 per widespread share (or an anticipated $0.08 per share on an annualized foundation), payable on March 20, 2025, to shareholders of report as of March 7, 2025.

Fourth Quarter and Full Yr 2024 Outcomes

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^{(1) Attributable to the shareholders of the Firm.
(2) Non-IFRS measure. For an outline of how these measures are calculated and a reconciliation of those measures to probably the most immediately comparable measures specified, outlined or decided underneath IFRS and offered within the Firm’s monetary statements, discuss with “Non-IFRS Measures”.}

Liquidity and Capital Sources

B2Gold continues to keep up a robust monetary place and liquidity. At December 31, 2024, the Firm had money and money equivalents of $337 million (December 31, 2023 – $307 million). Working capital at December 31, 2024 was $321 million (December 31, 2023 – $397 million). At December 31, 2024, the Firm had $400 million drawn on the Firm’s $800 million revolving credit score facility (“RCF”) with $400 million remaining out there for future draw downs. Subsequent to December 31, 2024, the RCF steadiness was repaid utilizing funds raised from the Notes providing accomplished in January 2025.

First Quarter 2025 Dividend

On February 19, 2025, B2Gold’s Board of Administrators declared a money dividend for the primary quarter of 2025 (the “Q1 2025 Dividend”) of $0.02 per widespread share (or an anticipated $0.08 per share on an annualized foundation), payable on March 20, 2025, to shareholders of report as of March 7, 2025.

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In 2023, the Firm applied a Dividend Reinvestment Plan (“DRIP”). For the needs of the Q1 2025 Dividend, the Firm has decided that no low cost will likely be utilized to calculate the Common Market Worth (as outlined within the DRIP) of its widespread shares issued from treasury. Participation within the DRIP is optionally available. With a purpose to take part within the DRIP in time for the Q1 2025 Dividend, registered shareholders should ship a correctly accomplished enrollment type to Computershare Belief Firm of Canada by no later than 4:00 p.m. (Toronto time) on February 28, 2025. Useful shareholders who want to take part within the DRIP ought to contact their monetary advisor, dealer, funding supplier, financial institution, monetary establishment, or different middleman via which they maintain widespread shares nicely prematurely of the above date for directions on tips on how to enroll within the DRIP.

This dividend is designated as an “eligible dividend” for the needs of the Earnings Tax Act (Canada). Dividends paid by B2Gold to shareholders exterior Canada (non-resident buyers) will likely be topic to Canadian non-resident withholding taxes.

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The declaration and fee of future dividends and the quantity of any such dividends will likely be topic to the willpower of the Board, in its sole and absolute discretion, making an allowance for, amongst different issues, financial situations, enterprise efficiency, monetary situation, development plans, anticipated capital necessities, compliance with B2Gold’s constating paperwork, all relevant legal guidelines, together with the principles and insurance policies of any relevant inventory alternate, in addition to any contractual restrictions on such dividends, together with any agreements entered into with lenders to the Firm, and some other components that the Board deems applicable on the related time. There might be no assurance that any dividends will likely be paid on the supposed charge or in any respect sooner or later.

For extra info relating to the DRIP and enrollment within the DRIP, please discuss with the Firm’s web site at https://www.b2gold.com/buyers/stock_info/.

This information launch doesn’t represent a suggestion to promote or the solicitation of a suggestion to purchase securities in any jurisdiction nor will there be any sale of those securities in any province, state or jurisdiction during which such supply, solicitation or sale could be illegal previous to registration or qualification underneath the securities legal guidelines of any such province, state or jurisdiction.

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The Firm has filed a registration assertion referring to the DRIP with the U.S. Securities and Change Fee which may be obtained underneath the Firm’s profile on the U.S. Securities and Change Fee’s web site at http://www.sec.gov/EDGAR or by contacting the Firm utilizing the contact info on the finish of this information launch.

Operations

Fekola Mine – Mali

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^{(1) Non-IFRS measure. For an outline of how these measures are calculated and a reconciliation of those measures to probably the most immediately comparable measures specified, outlined or decided underneath IFRS and offered within the Firm’s monetary statements, discuss with “Non-IFRS Measures”.}

The Fekola Mine in Mali (owned 80% by the Firm and 20% by the State of Mali) produced 392,946 ounces of gold in 2024, under the low finish of its annual steerage vary of between 420,000 and 450,000 ounces because of the vital delay in accessing the higher-grade ore from Fekola Part 7. Harm to an excavator earlier in 2024 and the next want for substitute tools impacted tools availability all through 2024, decreasing tonnes mined, which continued to have an effect on the provision of high-grade ore from the Fekola Part 7 pit leading to much less higher-grade ore processed in 2024. Mining and processing of those higher-grade tonnes is predicted in 2025 as tools availability and utilization have been at full capability on the finish of 2024, with gold manufacturing to begin 2025 assembly expectations. The Fekola mine and mill are working with out limitations and gold manufacturing is being exported for refining as per its common deliberate schedule. For the 12 months ended December 31, 2024, mill feed grade was 1.34 grams per tonne (“g/t”), mill throughput was a report 9.89 million tonnes, and gold restoration averaged 92.6%.

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Within the fourth quarter of 2024, the Fekola Mine produced 84,015 ounces of gold, decrease than anticipated, largely because of the delays skilled in accessing higher-grade ore from Fekola Part 7 mentioned above. Through the fourth quarter of 2024, the Fekola processing amenities continued to outperform finances on account of continued favorable ore fragmentation and continued optimization of the grinding circuit. For the fourth quarter of 2024, mill feed grade was 1.17 g/t, mill throughput was 2.44 million tonnes, and gold restoration averaged 91.9%.

For the 12 months ended December 31, 2024, the Fekola Mine’s money working prices (see “Non-IFRS Measures”) of $990 per gold ounce produced ($950 per gold ounce bought) have been above the upper finish of Fekola’s steerage vary of between $870 and $930 per gold ounce, primarily on account of decrease than anticipated manufacturing and better than anticipated manufacturing prices because of the decrease than anticipated deferred stripping and stockpile stock adjustments. Fekola’s money working prices for the fourth quarter of 2024 have been $1,192 per gold ounce produced ($1,247 per gold ounce bought), larger than anticipated for a similar causes famous above.

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All-in sustaining prices (see “Non-IFRS Measures”) for the Fekola Mine for the 12 months ended December 31, 2024 have been $1,723 per gold ounce bought, above the higher finish of the steerage vary of between $1,510 and $1,570 per gold ounce as a result of decrease than anticipated gold ounces bought ensuing from decrease than anticipated manufacturing, larger than anticipated royalties ensuing from a better than anticipated gold value in addition to new royalties and income based mostly manufacturing taxes and State funds applied within the third quarter of 2024. All-in sustaining prices for the Fekola Mine for the fourth quarter of 2024 have been $2,237 per gold ounce bought. As with the total 12 months 2024, all-in sustaining prices per ounce for the fourth quarter of 2024 have been larger than anticipated on account of decrease than anticipated gold ounces bought and better than anticipated royalties and income based mostly manufacturing taxes and State funds.

Capital expenditures for the 12 months ended December 31, 2024, totalled $258 million, primarily consisting of $63 million for deferred stripping, $58 million for cellular tools purchases and rebuilds, $34 million for tailings storage facility growth and tools, $64 million for improvement of the Fekola underground mine, $21 million for the growth of the photo voltaic plant, $8 million for course of and energy plant and $5 million for different mining sustaining capital. Capital expenditures within the fourth quarter of 2024 totalled $60 million, primarily consisting of $9 million for deferred stripping, $21 million for cellular tools purchases and rebuilds, $6 million for tailings storage facility growth and tools, $17 million for the event of the Fekola underground mine and $2 million for the growth of the photo voltaic plant.

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The Fekola Complicated is comprised of the Fekola Mine (Medinandi allow internet hosting the Fekola and Cardinal pits and Fekola underground) and Fekola Regional (Anaconda Space (Bantako, Menankoto, and Bakolobi permits) and the Dandoko allow). The Fekola Complicated is predicted to supply between 515,000 and 550,000 ounces of gold in 2025 at money working prices of between $845 and $905 per ounce and all-in sustaining prices of between $1,550 and $1,610 per ounce. The Fekola Complicated’s whole 2025 gold manufacturing is anticipated to extend considerably relative to 2024 because of the anticipated contribution of higher-grade ore from Fekola Regional and Fekola underground. Following the anticipated receipt of the exploitation license for Fekola Regional within the first quarter of 2025, mining and trucking operations will start, with gold manufacturing anticipated in mid-2025. On the Fekola Mine, ore will proceed to be mined from the Fekola and Cardinal pits, with approval of the exploitation section to mine the higher-grade ore at Fekola underground anticipated to be obtained within the second quarter of 2025 adopted by preliminary gold manufacturing from Fekola underground anticipated in mid-2025. Fekola Regional is predicted to contribute between 20,000 and 25,000 ounces of further gold manufacturing in 2025 via the trucking of open pit ore to the Fekola mill, and between 25,000 and 35,000 ounces of gold manufacturing is predicted from the mining of higher-grade ore at Fekola underground.

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The event of Fekola Regional will improve the general Fekola Complicated lifetime of mine manufacturing profile and is predicted to increase the mine lifetime of the Fekola Complicated. Fekola Regional is anticipated to contribute roughly 180,000 ounces of further annual gold manufacturing in its first 4 full years of manufacturing from 2026 via 2029. Vital exploration potential stays throughout the Fekola Complicated to additional prolong the mine life.

The Fekola Mine is predicted to course of 9.56 million tonnes of ore throughout 2025 at a median grade of 1.84 g/t gold with a course of gold restoration of 93.4%. Gold manufacturing is predicted to be weighted roughly 40% to the primary half of 2025 and 60% to the second half of 2025.

Capital expenditures in 2025 at Fekola are anticipated to whole roughly $234 million, of which roughly $197 million are anticipated to be categorized as sustaining capital expenditures and $37 million are anticipated to be categorized as non-sustaining capital expenditures. Sustaining capital expenditures are anticipated to incorporate roughly $106 million for deferred stripping, $44 million for brand new and substitute Fekola mining tools, $15 million for tailings storage facility development, $14 million for underground improvement, $7 million for different mining prices, $5 million for common web site bills, $4 million for powerhouse, and $2 million for course of plant. Non-sustaining capital expenditures are anticipated to incorporate $21 million for underground improvement, $14 million for regional improvement, and $2 million for mining tools.

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Masbate Mine – The Philippines

^{(1) Non-IFRS measure. For an outline of how these measures are calculated and a reconciliation of those measures to probably the most immediately comparable measures specified, outlined or decided underneath IFRS and offered within the Firm’s monetary statements, discuss with “Non-IFRS Measures”.}

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The Masbate Mine within the Philippines continued its sturdy operational efficiency in 2024, producing 194,046 ounces of gold, on the higher finish of its steerage vary of between 175,000 and 195,000 ounces. For the 12 months ended December 31, 2024, mill feed grade was 0.96 g/t, mill throughput was a report 8.60 million tonnes, and gold restoration averaged 72.8%. Within the fourth quarter of 2024, Masbate produced 49,534 ounces of gold, barely larger than anticipated on account of larger than anticipated mill throughput and barely larger ore grade than anticipated, partially offset by barely decrease than anticipated gold restoration. For the fourth quarter of 2024 mill feed grade was 0.95 g/t, mill throughput was 2.19 million tonnes, and gold restoration averaged 74.1%.

The Masbate Mine’s money working prices (see “Non-IFRS Measures”) of $838 per ounce produced ($835 per gold ounce bought) for the 12 months ended December 31, 2024 have been under the low finish of the steerage vary of between $910 and $970 per gold ounce produced, primarily as a result of larger than anticipated gold manufacturing, decrease than anticipated mining and processing prices and better mill productiveness. The Masbate Mine’s money working prices for the fourth quarter of 2024 have been $835 per gold ounce produced ($753 per gold ounce bought).

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All-in sustaining prices (see “Non-IFRS Measures”) for the Masbate Mine have been $1,155 per gold ounce bought for the 12 months ended December 31, 2024, nicely under the decrease finish of the steerage vary of between $1,260 and $1,320 per gold ounce bought. All-in sustaining prices for the 12 months ended December 31, 2024 have been decrease than anticipated on account of larger than anticipated gold ounces bought, decrease than anticipated money working prices as described above and decrease than anticipated sustaining capital expenditures, partially offset by larger gold royalties ensuing from a better than anticipated common realized gold value. All-in sustaining prices for the Masbate Mine for the fourth quarter of 2024 have been $1,102 per gold ounce bought.

Capital expenditures totalled $30 million in 2024, primarily consisting of cellular tools rebuilds and purchases of $14 million, $3 million in deferred stripping, $3 million for course of plant upgrades, $3 million for growth of the prevailing tailings storage facility, and $2 million for land purchases. Capital expenditures for the fourth quarter of 2024 totalled $10 million, primarily consisting of $4 million for cellular tools rebuilds and purchases, $1 million in deferred stripping, $1 million for powerhouse rebuilds, and $1 million for growth of the prevailing tailings storage facility.

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The Masbate Mine is predicted to supply between 170,000 and 190,000 ounces of gold in 2025 at money working prices of between $955 and $1,015 per ounce and all-in sustaining prices of between $1,310 and $1,370 per ounce. Gold manufacturing is scheduled to be comparatively constant all through 2025. For 2025, Masbate is predicted to course of 8.0 million tonnes of ore at a median grade of 0.88 g/t with a course of gold restoration of 79.9%. Mill feed will likely be a mix of mined recent ore from the Foremost Vein pit and low-grade ore stockpiles.

Capital expenditures for 2025 at Masbate are anticipated to whole $47 million, of which roughly $30 million are anticipated to be categorized as sustaining capital expenditures and $17 million are anticipated to be categorized as non-sustaining capital expenditures. Sustaining capital expenditures are anticipated to incorporate $8 million for deferred stripping, $7 million for mining tools substitute and rebuilds, $6 million for development of a brand new photo voltaic plant, $5 million for tailings storage facility development, $3 million for processing and $1 million for common web site amenities. Non-sustaining capital expenditures are anticipated to incorporate $13 million for Pajo pit land acquisition and $4 million for Pajo improvement.

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Otjikoto Mine – Namibia

^{(1) Non-IFRS measure. For an outline of how these measures are calculated and a reconciliation of those measures to probably the most immediately comparable measures specified, outlined or decided underneath IFRS and offered within the Firm’s monetary statements, discuss with “Non-IFRS Measures”.}

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The Otjikoto Mine in Namibia, during which the Firm holds a 90% curiosity, had a robust 2024 and produced 198,142 ounces of gold, close to the mid-point of its steerage vary of between 185,000 and 205,000 ounces. For the 12 months ended December 31, 2024, mill feed grade was 1.87 g/t, mill throughput was 3.34 million tonnes, and gold restoration averaged 98.6%. Within the fourth quarter of 2024, the Otjikoto Mine produced 52,452 ounces of gold. For the fourth quarter of 2024, mill feed grade was 2.10 g/t, mill throughput was 0.79 million tonnes, and gold restoration averaged 98.6%.

Ore manufacturing from the Wolfshag underground mine for the fourth quarter of 2024 averaged over 1,650 tonnes per day at a median gold grade of three.61 g/t gold. Open pit mining operations at Otjikoto Mine are anticipated to conclude in 2025, whereas processing operations are anticipated to proceed till economically viable stockpiles are exhausted in 2032. Underground operations underneath the present Otjikoto mine plan are projected to proceed into 2027 with potential to increase underground operations if the continued underground exploration program is profitable in figuring out further underground mineral deposits.

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On February 4, 2025, the Firm introduced constructive PEA outcomes for the Antelope deposit on the Otjikoto Mine. The Antelope deposit, comprised of the Springbok Zone, the Oryx Zone, and a potential third construction, Impala, topic to additional confirmatory drilling, is situated roughly 4 km southwest of the prevailing Otjikoto open pit. Based mostly on the constructive outcomes from the PEA, B2Gold believes that the Antelope deposit has the potential to develop into a small-scale, low-cost, underground gold mine that may complement the low-grade stockpile manufacturing throughout the interval of 2028 to 2032 and lead to a significant manufacturing profile for Otjikoto into the subsequent decade. The PEA for the Antelope deposit signifies an preliminary mine lifetime of 5 years and whole manufacturing of 327,000 ounces averaging roughly 65,000 ounces per 12 months over the lifetime of mine. Together with the processing of present low grade stockpiles, manufacturing from the Antelope deposit has the potential to extend Otjikoto Mine manufacturing to roughly 110,000 ounces per 12 months for 2029 via 2032. The Firm has authorised an preliminary finances of as much as $10 million for 2025 to de-risk the Antelope deposit improvement schedule by advancing early work planning, venture permits, and lengthy lead orders. Technical work together with geotechnical, hydrogeological, and metallurgical testing is anticipated to be accomplished over the subsequent a number of months. Price and schedule assumptions will proceed to be refined by working with suppliers and contractors, together with operating a aggressive bid course of for the event section of the Antelope deposit.

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The Inferred Mineral Useful resource estimate for the Antelope deposit that fashioned the premise for the PEA included 1.75 million tonnes grading 6.91 g/t gold for a complete of 390,000 ounces of gold, the vast majority of which is hosted within the Springbok Zone. The Antelope deposit stays open alongside strike in each instructions, highlighting sturdy potential for future useful resource growth.

The PEA is preliminary in nature and is predicated on Inferred Mineral Sources which are thought of too speculative geologically to have the engineering and financial concerns utilized to them that might allow them to be categorized as Mineral Reserves, and there’s no certainty that the PEA based mostly on these Mineral Sources will likely be realized. Mineral Sources that aren’t Mineral Reserves would not have demonstrated financial viability.

The Otjikoto Mine’s money working prices (see “Non-IFRS Measures”) for the 12 months ended December 31, 2024 have been $699 per gold ounce produced ($668 per gold ounce bought), on the low finish of its steerage vary of between $685 and $745 per gold ounce produced, on account of larger than anticipated gold ounces produced. For the fourth quarter of 2024, the Otjikoto Mine’s money working prices have been $733 per gold ounce produced ($700 per ounce gold bought), decrease than anticipated as a result of larger than anticipated gold ounces produced and better than anticipated web will increase in stockpiled ore from open pits.

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All-in sustaining prices (see “Non-IFRS Measures”) for the Otjikoto Mine for the 12 months ended December 31, 2024 have been $951 per gold ounce bought, barely under its steerage vary of between $960 and $1,020 per ounce bought on account of larger than anticipated gold ounces bought and decrease than anticipated money working prices offset by larger gold royalties ensuing from a better than anticipated realized gold value. All-in sustaining prices for the Otjikoto Mine for the fourth quarter of 2024 have been $913 per gold ounce bought.

Capital expenditures totalled $29 million in 2024, primarily consisting of $20 million for deferred stripping for the Otjikoto pit and $8 million for Wolfshag underground improvement. Capital expenditures for the fourth quarter of 2024 totalled $3 million, primarily consisting of $2 million for Wolfshag underground improvement.

The Otjikoto Mine is predicted to supply between 165,000 and 185,000 ounces of gold in 2025 at money working prices of between $695 and $755 per ounce and all-in sustaining prices of between $980 and $1,040 per ounce. Gold manufacturing at Otjikoto will likely be weighted in direction of the primary half of 2025 because of the conclusion of open pit mining actions within the third quarter of 2025. For the total 12 months 2025, Otjikoto is predicted to course of a complete of three.4 million tonnes of ore at a median grade of 1.63 g/t with a course of gold restoration of 98.0%. Processed ore will likely be sourced from the Otjikoto pit and the Wolfshag underground mine, supplemented by present ore stockpiles. Open pit mining operations are scheduled to conclude within the third quarter of 2025, whereas underground mining operations at Wolfshag are anticipated to proceed into 2027. Along with the financial potential of the Antelope deposit, exploration outcomes obtained so far point out the potential to increase underground manufacturing at Wolfshag previous 2027, supplementing processing operations into 2032 when economically viable stockpiles are forecast to be exhausted.

Capital expenditures in 2025 at Otjikoto are anticipated to whole $39 million, of which roughly $29 million are anticipated to be categorized as sustaining capital expenditures and $10 million are anticipated to be categorized as non-sustaining capital expenditures. Sustaining capital expenditures are anticipated to incorporate $16 million for underground improvement, $7 million for tailings storage facility development and $6 million for mining tools substitute and rebuilds. Non-sustaining capital expenditures are anticipated to incorporate roughly $10 million to provoke Antelope deposit improvement.

Goose Mission Growth

The Again River Gold District consists of eight mineral claims blocks alongside an 80 km belt. Development is underway on the most superior venture within the district, the Goose Mission, with improvement on schedule for first gold pour within the second quarter of 2025.

B2Gold acknowledges that respect and collaboration with the Kitikmeot Inuit Affiliation (“KIA”) is central to the license to function within the Again River Gold District and can proceed to prioritize creating the venture in a way that acknowledges Inuit priorities, addresses considerations, and brings long-term socio-economic advantages to the Kitikmeot Area. B2Gold appears to be like ahead to persevering with to construct on its sturdy collaboration with the KIA and Kitikmeot Communities.

All deliberate development actions in 2024 have been accomplished and venture development and improvement proceed to progress on observe for first gold pour on the Goose Mission within the second quarter of 2025 adopted by ramp as much as business manufacturing within the third quarter of 2025. The Firm continues to estimate that gold manufacturing in calendar 12 months 2025 will likely be between 120,000 and 150,000 ounces and that common annual gold manufacturing for the six 12 months interval from 2026 to 2031 inclusive will likely be roughly 310,000 ounces per 12 months, with the newest revealed Mineral Reserves supporting an extended mine life past 2031. The Firm stays on observe to finish B2Gold’s preliminary Goose Mission lifetime of mine plan based mostly on up to date Mineral Reserves by the top of the primary quarter of 2025.

Following the profitable completion of the 2024 sealift, development of the 163 km WIR started in December 2024 and was accomplished in February 2025. As of February 18, 2025, the WIR is operational with the transportation of all supplies from the MLA to the Goose Mission web site anticipated to be accomplished by Could 15, 2025.

Growth of the open pit and underground stay the Firm’s main focus to make sure that ample materials is offered for mill startup and that the Echo pit is offered for tailings placement. Open pit mining of the Echo pit continues to fulfill manufacturing targets and is anticipated to be able to obtain tailings when the mill begins. The Umwelt underground improvement stays on schedule for the graduation of manufacturing by the top of the second quarter of 2025. B2Gold is presently reviewing ultimate choices for mining the crown pillar and maximizing volumes of the Echo pit.

Within the fourth quarter of 2024 and 12 months ended December 31, 2024, the Firm incurred money expenditures of $149 million (C$209 million) and $515 million (C$707 million), respectively, for the Goose Mission on development actions and $40 million (C$55 million) and $195 million (C$266 million), respectively, on provides stock. Based mostly on the development and mine improvement money expenditures incurred so far, mixed with the estimated expenditures to be incurred via to first gold pour within the second quarter of 2025, the Firm reiterates the full Goose Mission development and mine improvement money expenditure estimate of C$1,540 million, as introduced on September 12, 2024.

Gramalote Mission Growth

On June 18, 2024, the Firm introduced the outcomes of a constructive PEA on its 100% owned Gramalote Mission situated within the Division of Antioquia, Colombia. The PEA outlines a major manufacturing profile of 234,000 ounces of annual gold manufacturing for the primary 5 years, with common annual gold manufacturing of 185,000 ounces over a 12.5 12 months venture life with a low-cost construction and favorable metallurgical traits. Moreover, the PEA outlines sturdy economics with an after-tax NPV_5% of $778 million and an after-tax inside charge of return of 20.6%, with a venture payback on pre-production capital of three.1 years at a long-term gold value of $2,000 per ounce.

The pre-production capital value for the venture was estimated to be $807 million (together with roughly $93 million for mining tools and $63 million for contingency). A sturdy quantity of historic drilling and engineering research have been accomplished on the Gramalote Mission, which considerably de-risks future venture improvement. Based mostly on the constructive outcomes from the PEA, B2Gold believes that the Gramalote Mission has the potential to develop into a medium-scale, low-cost open pit gold mine.

B2Gold has commenced feasibility work with the purpose of finishing a feasibility research by mid-2025. Because of the work accomplished for earlier research, the work remaining to finalize a feasibility research for the up to date medium-scale venture is just not intensive. The primary work packages for the feasibility research embody geotechnical and environmental web site investigations for the processing plant and waste dump footprints, in addition to capital and working value estimates. These work packages, in addition to processing engineering and web site infrastructure design, are underway and the research is on schedule.

The Gramalote Mission will proceed to advance resettlement packages, set up coexistence packages for small miners, work on well being, security and environmental tasks and proceed to work with the federal government and native communities on social packages.

Because of the desired modifications to the processing plant and infrastructure areas, a Modified Environmental Influence Research is required. B2Gold has commenced work on the modifications to the Environmental Influence Research and expects it to be accomplished and submitted shortly following the completion of the feasibility research. If the ultimate economics of the feasibility research are constructive and B2Gold makes the choice to develop the Gramalote Mission as an open pit gold mine, B2Gold would make the most of its confirmed inside mine development workforce to construct the mine and mill amenities.

Capital expenditures in 2025 at Gramalote are anticipated to be comparatively constant all year long, totaling $28 million associated primarily to feasibility research prices and ongoing care and upkeep.

Exploration

B2Gold executed one other 12 months of aggressive exploration in 2024 incurring $61 million (together with $8 million of goal era prices included in different working bills within the Consolidated Assertion of Operations) in comparison with a finances of $63 million. Exploration in 2024 was targeted predominantly on the Again River Gold District, with the purpose of enhancing and rising the numerous useful resource base on the Goose Mission and surrounding regional targets. In Namibia, the exploration program on the Otjikoto Mine was the most important since 2012 with a give attention to drilling the lately found Antelope deposit. In Mali, the exploration program was directed at a extra strategic seek for near-mine, near-surface sources of further sulphide-related gold mineralization. Within the Philippines, the exploration program at Masbate targeted on drilling targets instantly south of mine infrastructure.

B2Gold is planning one other 12 months of intensive exploration in 2025 with a finances of roughly $61 million. A big focus will likely be exploration on the Again River Gold District, with the purpose of enhancing and rising the numerous useful resource base on the Goose Mission and surrounding regional targets. In Namibia, the exploration program on the Otjikoto Mine will likely be targeted on enhancing and growing the assets on the Antelope deposit. In Mali, an ongoing focus will likely be on the invention of further high-grade sulphide mineralization throughout the Fekola Complicated. Within the Philippines, the exploration program at Masbate will proceed to give attention to new targets situated south of the Masbate Mine infrastructure. Early stage exploration packages will proceed within the Philippines, Cote d’Ivoire and Kazakhstan in 2025. Lastly, the seek for new joint ventures and strategic funding alternatives will proceed, constructing on present fairness investments in Snowline Gold Corp., Founders Metals Inc., AuMEGA Metals Ltd., and Prospector Metals Corp.

Outlook

Complete gold manufacturing in 2025 is anticipated to be between 970,000 and 1,075,000 ounces, a major enhance from 2024 manufacturing ranges primarily because of the scheduled mining and processing of higher-grade ore from the Fekola Part 7 and Cardinal pits made accessible by the deferred stripping marketing campaign that was undertaken all through 2024, the anticipated contribution from Fekola Regional beginning in mid-2025, the graduation of mining of higher-grade ore at Fekola underground and the graduation of gold manufacturing on the Goose Mission by the top of the second quarter of 2025. The Firm’s full 12 months whole money working prices for the Fekola Complicated, Masbate and Otjikoto are forecast to be between $835 and $895 per gold ounce and whole all-in sustaining prices are forecast to be between $1,460 and $1,520 per gold ounce. Working value steerage for the Goose Mission will likely be launched within the second quarter of 2025 (previous to the graduation of preliminary manufacturing), after the publication within the first quarter of 2025 of B2Gold’s preliminary Goose Mission lifetime of mine plan based mostly on up to date Mineral Reserves.

Upon completion of the development actions on the Goose Mission, the mine is predicted to pour first gold within the second quarter of 2025, adopted by ramp as much as business manufacturing within the third quarter, and contribute between 120,000 and 150,000 ounces of gold in 2025. Over the primary six full calendar years of operation from 2026 to 2031 inclusive, the common annual gold manufacturing for the Goose Mission is estimated to be roughly 310,000 ounces of gold per 12 months, with the newest revealed Mineral Reserves supporting an extended mine life past 2031. The Firm stays on observe to finish B2Gold’s preliminary Goose Mission lifetime of mine plan based mostly on up to date Mineral Reserves by the top of the primary quarter of 2025.

Based mostly on the constructive PEA outcomes for the Antelope deposit on the Otjikoto Mine launched in February 2025, B2Gold believes that the Antelope deposit has the potential to develop into a small-scale, low-cost underground gold mine that may complement the low-grade stockpile manufacturing throughout the interval from 2028 to 2032 and lead to significant manufacturing profile for Otjikoto into the subsequent decade.

Following the discharge of constructive PEA outcomes on the Firm’s Gramalote Mission in Colombia, B2Gold commenced feasibility work with the purpose of finishing a feasibility research by mid-2025. Because of the work accomplished for earlier research, the work remaining to finalize a feasibility research for the up to date medium-scale venture is just not anticipated to be intensive. The primary work packages for the feasibility research embody geotechnical and environmental web site investigations for the processing plant and waste dump footprints, in addition to capital and working value estimates. These work packages, in addition to processing engineering and web site infrastructure design, are underway and the research is on schedule.

The Firm’s ongoing technique is to proceed to maximise worthwhile manufacturing from its present mines, keep a robust monetary place, understand the potential enhance in gold manufacturing from the Firm’s present improvement tasks, proceed exploration packages throughout the Firm’s sturdy land packages, consider new exploration, improvement and manufacturing alternatives and proceed to return capital to shareholders.

Fourth Quarter and Full Yr 2024 Monetary Outcomes – Convention Name Particulars

B2Gold executives will host a convention name to debate the outcomes on Thursday, February 20, 2025, at 8:00 am PT / 11:00 am ET.

Members might register for the convention name right here: registration hyperlink. Upon registering, individuals will obtain a calendar invitation by e-mail with dial in particulars and a novel PIN. It will permit individuals to bypass the operator queue and join on to the convention. Registration will stay open till the top of the convention name. Members might also dial in utilizing the numbers under:

• Toll-free in U.S. and Canada: +1 (844) 763-8274
• All different callers: +1 (647) 484-8814

The convention name will likely be out there to playback for 2 weeks by dialing toll-free within the U.S. and Canada: +1 (855) 669-9658, replay entry code 8765183. All different callers: +1 (412) 317-0088, replay entry code 8765183.

About B2Gold

B2Gold is a accountable worldwide senior gold producer headquartered in Vancouver, Canada. Based in 2007, right now, B2Gold has working gold mines in Mali, Namibia and the Philippines, the Goose Mission underneath development in northern Canada and quite a few improvement and exploration tasks in numerous nations together with Mali, Colombia and Finland. B2Gold forecasts whole consolidated gold manufacturing of between 970,000 and 1,075,000 ounces in 2025.

Certified Individuals

Invoice Lytle, Senior Vice President and Chief Working Officer, a certified individual underneath NI 43-101, has authorised the scientific and technical info associated to operations issues contained on this information launch.

Andrew Brown, P. Geo., Vice President, Exploration, a certified individual underneath NI 43-101, has authorised the scientific and technical info associated to exploration and mineral useful resource issues contained on this information launch.

ON BEHALF OF B2GOLD CORP.

“Clive T. Johnson”
President and Chief Government Officer

Supply: B2Gold Corp.

The Toronto Inventory Change and NYSE American LLC neither approve nor disapprove the knowledge contained on this information launch.

Manufacturing outcomes and manufacturing steerage offered on this information launch replicate whole manufacturing on the mines B2Gold operates on a 100% venture foundation. Please see our Annual Info Type dated March 16, 2023 for a dialogue of our possession curiosity within the mines B2Gold operates.

This information launch consists of sure “forward-looking info” and “forward-looking statements” (collectively forward-looking statements”) inside the that means of relevant Canadian and United States securities laws, together with: projections; outlook; steerage; forecasts; estimates; and different statements relating to future or estimated monetary and operational efficiency, gold manufacturing and gross sales, revenues and money flows, and capital prices (sustaining and non-sustaining) and working prices, together with projected money working prices and AISC, and budgets on a consolidated and mine by mine foundation; future or estimated mine life, metallic value assumptions, ore grades or sources, gold restoration charges, stripping ratios, throughput, ore processing; statements relating to anticipated exploration, drilling, improvement, development, allowing and different actions or achievements of B2Gold; and together with, with out limitation: remaining nicely positioned for continued sturdy operational and monetary efficiency in 2025; projected gold manufacturing, money working prices and all-in sustaining prices (“AISC”) on a consolidated and mine by mine foundation in 2025 for the Fekola Complicated, the Otjikoto Mine, the Masbate Gold Mission and the Goose Mission; whole consolidated gold manufacturing of between 970,000 and 1,075,000 ounces in 2025, with money working prices of between $835 and $895 per ounce and AISC of between $1,460 and $1,520 per ounce; B2Gold’s continued prioritization of creating the Goose Mission in a way that acknowledges Indigenous enter and considerations and brings long-term socio-economic advantages to the world; the Goose Mission capital value being roughly C$1,190 million and the online value of open pit and underground improvement, deferred stripping, and sustaining capital expenditures to be incurred previous to first gold manufacturing being roughly C$350 million and the price for reagents and different working capital gadgets being C$330 million; the Goose Mission producing roughly 310,000 ounces of gold per 12 months for the primary six years; the potential for first gold manufacturing within the second quarter of 2025 from the Goose Mission and the estimates of such manufacturing; trucking of selective higher-grade saprolite materials from the Anaconda Space to the Fekola mill having the potential to generate roughly 80,000 to 100,000 ounces of further gold manufacturing per 12 months from Fekola Regional sources; the receipt of the exploitation allow for Fekola Regional and Fekola Regional manufacturing anticipated to start within the second quarter of 2025; the receipt of a allow for Fekola underground and Fekola underground commencing operation in mid-2025; the potential for the Antelope deposit to be developed as an underground operation and contribute gold throughout the low-grade stockpile processing in 2029 via 2032; the outcomes and estimates within the Gramalote PEA, together with the venture life, common annual gold manufacturing, processing charge, capital value, web current worth, after-tax web money movement, after-tax inside charge of return and payback; the timing and outcomes of a feasibility research on the Gramalote Mission; the potential to develop the Gramalote Mission as an open pit gold mine; and deliberate 2025 exploration budgets for Canada, Mali, Namibia, The Philippines, Finland, Cote D’Ivoire and different grassroots tasks. All statements on this information launch that handle occasions or developments that we anticipate to happen sooner or later are forward-looking statements. Ahead-looking statements are statements that aren’t historic info and are usually, though not all the time, recognized by phrases comparable to “anticipate”, “plan”, “anticipate”, “venture”, “goal”, “potential”, “schedule”, “forecast”, “finances”, “estimate”, “intend” or “consider” and comparable expressions or their unfavourable connotations, or that occasions or situations “will”, “would”, “might”, “may”, “ought to” or “may” happen. All such forward-looking statements are based mostly on the opinions and estimates of administration as of the date such statements are made.

Ahead-looking statements essentially contain assumptions, dangers and uncertainties, sure of that are past B2Gold’s management, together with dangers related to or associated to: the volatility of metallic costs and B2Gold’s widespread shares; adjustments in tax legal guidelines; the risks inherent in exploration, improvement and mining actions; the uncertainty of reserve and useful resource estimates; not reaching manufacturing, value or different estimates; precise manufacturing, improvement plans and prices differing materially from the estimates in B2Gold’s feasibility and different research; the power to acquire and keep any crucial permits, consents or authorizations required for mining actions; environmental rules or hazards and compliance with advanced rules related to mining actions; local weather change and local weather change rules; the power to interchange mineral reserves and establish acquisition alternatives; the unknown liabilities of firms acquired by B2Gold; the power to efficiently combine new acquisitions; fluctuations in alternate charges; the provision of financing; financing and debt actions, together with potential restrictions imposed on B2Gold’s operations consequently thereof and the power to generate enough money flows; operations in overseas and creating nations and the compliance with overseas legal guidelines, together with these related to operations in Mali, Namibia, the Philippines and Colombia and together with dangers associated to adjustments in overseas legal guidelines and altering insurance policies associated to mining and native possession necessities or useful resource nationalization usually; distant operations and the provision of ample infrastructure; fluctuations in value and availability of power and different inputs crucial for mining operations; shortages or value will increase in crucial tools, provides and labour; regulatory, political and nation dangers, together with native instability or acts of terrorism and the results thereof; the reliance upon contractors, third events and three way partnership companions; the dearth of sole decision-making authority associated to Filminera Sources Company, which owns the Masbate Mission; challenges to title or floor rights; the dependence on key personnel and the power to draw and retain expert personnel; the chance of an uninsurable or uninsured loss; hostile local weather and climate situations; litigation threat; competitors with different mining firms; neighborhood help for B2Gold’s operations, together with dangers associated to strikes and the halting of such operations on occasion; conflicts with small scale miners; failures of knowledge programs or info safety threats; the power to keep up ample inside controls over monetary reporting as required by regulation, together with Part 404 of the Sarbanes-Oxley Act; compliance with anti-corruption legal guidelines, and sanctions or different comparable measures; social media and B2Gold’s popularity; dangers affecting Calibre having an impression on the worth of the Firm’s funding in Calibre, and potential dilution of our fairness curiosity in Calibre; in addition to different components recognized and as described in additional element underneath the heading “Danger Elements” in B2Gold’s most up-to-date Annual Info Type, B2Gold’s present Type 40-F Annual Report and B2Gold’s different filings with Canadian securities regulators and the U.S. Securities and Change Fee (the “SEC”), which can be considered at www.sedarplus.ca and www.sec.gov, respectively (the “Web sites”). The record is just not exhaustive of the components which will have an effect on B2Gold’s forward-looking statements.

B2Gold’s forward-looking statements are based mostly on the relevant assumptions and components administration considers affordable as of the date hereof, based mostly on the knowledge out there to administration at such time. These assumptions and components embody, however are usually not restricted to, assumptions and components associated to B2Gold’s capacity to hold on present and future operations, together with: improvement and exploration actions; the timing, extent, period and financial viability of such operations, together with any mineral assets or reserves recognized thereby; the accuracy and reliability of estimates, projections, forecasts, research and assessments; B2Gold’s capacity to fulfill or obtain estimates, projections and forecasts; the provision and price of inputs; the worth and marketplace for outputs, together with gold; overseas alternate charges; taxation ranges; the well timed receipt of crucial approvals or permits; the power to fulfill present and future obligations; the power to acquire well timed financing on affordable phrases when required; the present and future social, financial and political situations; and different assumptions and components usually related to the mining trade.

B2Gold’s forward-looking statements are based mostly on the opinions and estimates of administration and replicate their present expectations relating to future occasions and working efficiency and converse solely as of the date hereof. B2Gold doesn’t assume any obligation to replace forward-looking statements if circumstances or administration’s beliefs, expectations or opinions ought to change aside from as required by relevant regulation. There might be no assurance that forward-looking statements will show to be correct, and precise outcomes, efficiency or achievements may differ materially from these expressed in, or implied by, these forward-looking statements. Accordingly, no assurance might be provided that any occasions anticipated by the forward-looking statements will transpire or happen, or if any of them do, what advantages or liabilities B2Gold will derive therefrom. For the explanations set forth above, undue reliance shouldn’t be positioned on forward-looking statements.

Non-IFRS Measures

This information launch consists of sure phrases or efficiency measures generally used within the mining trade that aren’t outlined underneath Worldwide Monetary Reporting Requirements (“IFRS”), together with “money working prices” and “all-in sustaining prices” (or “AISC”). Non-IFRS measures would not have any standardized that means prescribed underneath IFRS, and due to this fact they will not be corresponding to comparable measures employed by different firms. The projected vary of AISC is anticipated to be adjusted to incorporate sustaining capital expenditures, company administrative expense, mine-site exploration and analysis prices and reclamation value accretion and amortization, and exclude the results of expansionary capital and non-sustaining expenditures. Projected GAAP whole manufacturing money prices for the total 12 months would require inclusion of the projected impression of future included and excluded gadgets, together with gadgets that aren’t presently determinable, however could also be vital, comparable to sustaining capital expenditures, reclamation value accretion and amortization. Because of the uncertainty of the probability, quantity and timing of any such gadgets, B2Gold doesn’t have info out there to supply a quantitative reconciliation of projected AISC to a complete manufacturing money prices projection. B2Gold believes that this measure represents the full prices of manufacturing gold from present operations, and supplies B2Gold and different stakeholders of the Firm with further info of B2Gold’s operational efficiency and skill to generate money flows. AISC, as a key efficiency measure, permits B2Gold to evaluate its capacity to help capital expenditures and to maintain future manufacturing from the era of working money flows. This info supplies administration with the power to extra actively handle capital packages and to make extra prudent capital funding choices.

The information offered is meant to supply further info and shouldn’t be thought of in isolation or as an alternative to measures of efficiency ready in accordance with IFRS and needs to be learn along side B2Gold’s consolidated monetary statements. Readers ought to discuss with B2Gold’s Administration Dialogue and Evaluation, out there on the Web sites, underneath the heading “Non-IFRS Measures” for a extra detailed dialogue of how B2Gold calculates sure such measures and a reconciliation of sure measures to IFRS phrases.

Cautionary Assertion Concerning Mineral Reserve and Useful resource Estimates

The disclosure on this information launch was ready in accordance with Canadian requirements for the reporting of mineral useful resource and mineral reserve estimates, which differ in some materials respects from the disclosure necessities of United States securities legal guidelines. Particularly, and with out limiting the generality of the foregoing, the phrases “mineral reserve”, “confirmed mineral reserve”, “possible mineral reserve”, “inferred mineral assets,”, “indicated mineral assets,” “measured mineral assets” and “mineral assets” used or referenced on this prospectus, any prospectus complement and the paperwork included by reference herein or therein are Canadian mineral disclosure phrases as outlined in accordance with Canadian Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Initiatives (“NI 43-101”) and the Canadian Institute of Mining, Metallurgy and Petroleum (the “CIM”) – CIM Definition Requirements on Mineral Sources and Mineral Reserves, adopted by the CIM Council, as amended (the “CIM Definition Requirements”). The definitions of those phrases, and different mining phrases and disclosures, differ from the definitions of such phrases, if any, for functions of the SEC’s disclosure guidelines the SEC for home United States Issuers (the “SEC Guidelines”), (the “Change Act”). Accordingly, mineral reserve and mineral useful resource info and different technical info contained on this information launch will not be corresponding to comparable info disclosed by United States firms topic to the SEC’s reporting and disclosure necessities for home United States issuers.

Historic outcomes or feasibility fashions offered herein are usually not ensures or expectations of future efficiency. Mineral assets that aren’t mineral reserves would not have demonstrated financial viability. Because of the uncertainty of measured, indicated or inferred mineral assets, these mineral assets might by no means be upgraded to confirmed and possible mineral reserves. Traders are cautioned to not assume that any a part of mineral deposits in these classes will ever be transformed into reserves or recovered. As well as, United States buyers are cautioned to not assume that any half or all of B2Gold’s measured, indicated or inferred mineral assets represent or will likely be transformed into mineral reserves or are or will likely be economically or legally mineable with out further work.

NON-IFRS MEASURES

Money working prices per gold ounce bought and whole money prices per gold ounce bought

‘‘Money working prices per gold ounce’’ and “whole money prices per gold ounce” are widespread monetary efficiency measures within the gold mining trade however, as non-IFRS measures, they don’t have a standardized that means underneath IFRS and due to this fact will not be corresponding to comparable measures offered by different issuers. Administration believes that, along with standard measures ready in accordance with IFRS, sure buyers use this info to guage our efficiency and skill to generate money movement. Accordingly, these measures are supposed to supply further info and shouldn’t be thought of in isolation or as an alternative to measures of efficiency ready in accordance with IFRS. The measures, together with gross sales, are thought of to be a key indicator of the Firm’s capacity to generate earnings and money movement from its mining operations.

Money value figures are calculated on a gross sales foundation in accordance with a regular developed by The Gold Institute, which was a worldwide affiliation of suppliers of gold and gold merchandise and included main North American gold producers. The Gold Institute ceased operations in 2002, however the usual is the accepted customary of reporting money value of manufacturing in North America. Adoption of the usual is voluntary and the price measures offered will not be corresponding to different equally titled measures of different firms. Different firms might calculate these measures in another way. Money working prices and whole money prices per gold ounce bought are derived from quantities included within the assertion of operations and embody mine web site working prices comparable to mining, processing, smelting, refining, transportation prices, royalties and manufacturing taxes, much less silver by-product credit. The tables under present a reconciliation of money working prices per gold ounce bought and whole money prices per gold ounce bought to manufacturing prices as extracted from the annual consolidated monetary statements on a consolidated and a mine-by-mine foundation ({dollars} in hundreds):

Money working prices per gold ounce produced

Along with money working prices on a per gold ounce bought foundation, the Firm additionally presents money working prices on a per gold ounce produced foundation. Money working prices per gold ounce produced is derived from quantities included within the assertion of operations and embody mine web site working prices comparable to mining, processing, smelting, refining, transportation prices, much less silver by-product credit. The tables under present a reconciliation of money working prices per gold ounce produced to manufacturing prices as extracted from the annual consolidated monetary statements on a consolidated and a mine-by-mine foundation ({dollars} in hundreds):

All-in sustaining prices per gold ounce

In June 2013, the World Gold Council, a non-regulatory affiliation of the world’s main gold mining firms established to advertise using gold to trade, customers and buyers, offered steerage for the calculation of the measure “all-in sustaining prices per gold ounce”, however as a non-IFRS measure, it doesn’t have a standardized that means underneath IFRS and due to this fact will not be corresponding to comparable measures offered by different issuers. The unique World Gold Council customary turned efficient January 1, 2014 with additional updates introduced on November 16, 2018 which have been efficient beginning January 1, 2019.

Administration believes that the all-in sustaining prices per gold ounce measure supplies further perception into the prices of manufacturing gold by capturing all the expenditures required for the invention, improvement and sustaining of gold manufacturing and permits the Firm to evaluate its capacity to help capital expenditures to maintain future manufacturing from the era of working money flows. Administration believes that, along with standard measures ready in accordance with IFRS, sure buyers use this info to guage the Firm’s efficiency and skill to generate money movement. Accordingly, it’s supposed to supply further info and shouldn’t be thought of in isolation or as an alternative to measures of efficiency ready in accordance with IFRS. Adoption of the usual is voluntary and the price measures offered will not be corresponding to different equally titled measures of different firms. The Firm has utilized the ideas of the World Gold Council suggestions and has reported all-in sustaining prices on a gross sales foundation. Different firms might calculate these measures in another way.

B2Gold defines all-in sustaining prices per ounce because the sum of money working prices, royalties and manufacturing taxes, capital expenditures and exploration prices which are sustaining in nature, sustaining lease expenditures, company common and administrative prices, share-based fee bills associated to RSUs/DSUs/PSUs/RPUs, neighborhood relations expenditures, reclamation legal responsibility accretion and realized (features) losses on gasoline spinoff contracts, all divided by the full gold ounces bought to reach at a per ounce determine.

The desk under exhibits a reconciliation of all-in sustaining prices per ounce to manufacturing prices as extracted from the annual consolidated monetary statements on a consolidated and a mine-by-mine foundation ({dollars} in hundreds):

^{(1) Included as a part of Share-based funds on the Consolidated Assertion of Operations.
(2) Confer with Sustaining capital expenditures and Sustaining mine exploration reconciliations under.}

The desk under exhibits a reconciliation of sustaining capital expenditures to working mine capital expenditures as extracted from the annual consolidated monetary statements on a consolidated and a mine-by-mine foundation ({dollars} in hundreds):

The desk under exhibits a reconciliation of sustaining mine exploration to working mine exploration as extracted from the annual consolidated monetary statements on a consolidated and a mine-by-mine foundation ({dollars} in hundreds):

The tables under present a reconciliation of all-in sustaining prices per ounce to manufacturing prices as extracted from the annual consolidated monetary statements on a consolidated and a mine-by-mine foundation ({dollars} in hundreds):

^{(1) Included as a part of Share-based funds on the Consolidated Assertion of Operations.
(2) Confer with Sustaining capital expenditures and Sustaining mine exploration reconciliations under.}

The desk under exhibits a reconciliation of sustaining capital expenditures to working mine capital expenditures as extracted from the annual consolidated monetary statements on a consolidated and a mine-by-mine foundation ({dollars} in hundreds):

The desk under exhibits a reconciliation of sustaining mine exploration to working mine exploration as extracted from the annual consolidated monetary statements on a consolidated and a mine-by-mine foundation ({dollars} in hundreds):

The tables under present a reconciliation of all-in sustaining prices per ounce to manufacturing prices as extracted from the annual consolidated monetary statements on a consolidated and a mine-by-mine foundation ({dollars} in hundreds):

^{(1) Included as a part of Share-based funds on the Consolidated Assertion of Operations.
(2) Confer with Sustaining capital expenditures and Sustaining mine exploration reconciliations under.}

The desk under exhibits a reconciliation of sustaining capital expenditures to working mine capital expenditures as extracted from the annual consolidated monetary statements on a consolidated and a mine-by-mine foundation ({dollars} in hundreds):

The desk under exhibits a reconciliation of sustaining mine exploration to working mine exploration as extracted from the annual consolidated monetary statements ({dollars} in hundreds):

The tables under present a reconciliation of all-in sustaining prices per ounce to manufacturing prices as extracted from the annual consolidated monetary statements on a consolidated and a mine-by-mine foundation ({dollars} is hundreds):

^{(1) Included as a part of Share-based funds on the Consolidated Assertion of Operations.
(2) Confer with Sustaining capital expenditures and Sustaining mine exploration reconciliations under.}

The desk under exhibits a reconciliation of sustaining capital expenditures to working mine capital expenditures as extracted from the annual consolidated monetary statements ({dollars} in hundreds):

The desk under exhibits a reconciliation of sustaining mine exploration to working mine exploration as extracted from the annual consolidated monetary statements ({dollars} in hundreds):

Adjusted web earnings and adjusted earnings per share – fundamental

Adjusted web earnings and adjusted earnings per share – fundamental are non-IFRS measures that would not have a standardized that means prescribed by IFRS and due to this fact will not be corresponding to comparable measures offered by different issuers. The Firm defines adjusted web earnings as web earnings attributable to shareholders of the Firm adjusted for non-recurring gadgets and in addition vital recurring non-cash gadgets. The Firm defines adjusted earnings per share – fundamental as adjusted web earnings divided by the essential weighted variety of widespread shares excellent.

Administration believes that the presentation of adjusted web earnings and adjusted earnings per share – fundamental is acceptable to supply further info to buyers relating to gadgets that we don’t anticipate to proceed on the similar stage sooner or later or that administration doesn’t consider to be a mirrored image of the Firm’s ongoing working efficiency. Administration additional believes that its presentation of those non-IFRS monetary measures present info that’s helpful to buyers as a result of they’re necessary indicators of the power of our operations and the efficiency of our core enterprise. Accordingly, it’s supposed to supply further info and shouldn’t be thought of in isolation as an alternative to measures of efficiency ready in accordance with IFRS. Different firms might calculate this measure in another way.

A reconciliation of web (loss) earnings to adjusted web earnings as extracted from the annual consolidated monetary statements is about out within the desk under:

2025 Steering

The projected vary of all-in sustaining prices is anticipated to be adjusted to incorporate sustaining capital expenditures, company administrative expense, mine-site exploration and analysis prices and reclamation value accretion and amortization and exclude the results of expansionary capital and non-sustaining capital expenditures. Projected GAAP whole manufacturing money prices for the total 12 months would require inclusion of the projected impression of future included and excluded gadgets, together with gadgets that aren’t presently determinable, however could also be vital, comparable to sustaining capital expenditures, reclamation, value accretion and amortization. Because of the uncertainty of the probability, quantity and timing of any such gadgets, B2Gold doesn’t have info out there to supply a quantitative reconciliation of projected all-in sustaining prices to a complete manufacturing money prices projection. B2Gold believes that this measure represents the full prices of manufacturing gold from present operations and supplies B2Gold and different shareholders of the Firm with further info of B2Gold’s operational efficiency and skill to generate money flows. All-in sustaining prices, as a key efficiency measure, permits B2Gold to evaluate its capacity to help capital expenditures and to maintain future gold manufacturing from the era of working money flows. This info supplies administration with the power to extra actively handle capital packages and to make extra prudent capital funding choices.