B2Gold Reports Q2 2026 Results; Strong Operating Performance at the Fekola, Masbate, and Otjikoto Mines led to Higher than Expected Gold Production and Lower than Expected All-In Sustaining Costs; Menankoto Exploitation Permit Expected to be Issued in the Near-Term by the State of Mali

B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) (“B2Gold” or the “Company”) is pleased to announce its operational and financial results for the second quarter of 2026. All dollar figures are in United States dollars unless otherwise indicated.

2026 Second Quarter Highlights

Gold production of 203,648 ounces : Consolidated gold production in the second quarter of 2026 was 203,648 ounces, in line with expectations. Gold production at Fekola, Masbate and Otjikoto was higher than anticipated, offset by lower than anticipated gold production at Goose as a result of a previously reported fire in certain areas of the crushing circuit in April 2026.

Consolidated cash operating costs of $1,201 per gold ounce produced : Consolidated cash operating costs (see “ Non-IFRS Measures ”) were $1,201 per gold ounce produced ($1,127 per gold ounce sold) during the second quarter of 2026. Cash operating costs per ounce produced for the second quarter of 2026 were lower than anticipated mainly as a result of lower than expected processing costs at Masbate, with Fekola, Otjikoto and Goose relatively in-line with expectations.

Consolidated all-in sustaining costs of $2,356 per gold ounce sold : Consolidated all-in sustaining costs (see “ Non-IFRS Measures ”) were $2,356 per gold ounce sold during the second quarter of 2026. Consolidated all-in sustaining costs for the second quarter of 2026 were lower than anticipated as a result of lower than expected production costs, and lower than expected sustaining capital expenditures.

Attributable net income of $0.31 per share; adjusted attributable net income of $0.03 per share : Net income attributable to the shareholders of the Company of $417 million, or $0.31 per share; adjusted net income (see “ Non-IFRS Measures ”) attributable to the shareholders of the Company of $41 million, or $0.03 per share. Adjusted net income in the second quarter of 2026 excluded a gain on sale of mining interests of $292 million and unrealized gains on derivative instruments of $135 million, amongst other items. Included in adjusted net income for the second quarter of 2026 is $71 million of realized losses on the Company's gold collars. Final settlement of the gold collar contracts will be completed in January 2027.

Operating cash flow before working capital adjustments of $94 million and free cash outflow of $258 million : Cash flow provided by operating activities before working capital adjustments of $94 million, and free cash outflow (see “ Non-IFRS Measures ”) of $258 million in the second quarter of 2026. Free cash outflow during the second quarter was mainly the result of higher cash tax payments (including a higher priority dividend paid to the State of Mali), the impact of the prepaid gold sales (the “Gold Prepay”), and higher production costs, which more than offset higher gold revenues. Free cash flow for the second quarter of 2026 does not include the $325 million of cash proceeds on sale of the Finland properties.

Repurchased $92 million of shares under the Company's renewed normal course issuer bid: On April 1, 2026, the Toronto Stock Exchange accepted the notice of B2Gold's intention to renew its normal course issuer bid (“NCIB”). The renewed NCIB commenced on April 3, 2026 and will expire no later than April 2, 2027. Under the NCIB, the Company may purchase up to 132,662,594 common shares, representing 10% of the public float as of March 20, 2026. During the second quarter of 2026, the Company repurchased a total of 19 ...