B2Gold Corp.

Thank you for standing by. This is the conference operator. Welcome to B2Go Corporation's third quarter 2025 financial results conference call. As a reminder, all participants are enlisted only mode and the conference is being recorded. After the presentation, there will be an opportunity for analysts to ask questions. To join the question queue, you may press star then one on your telephone keypad. Should you need assistance during the conference call, you may signal an operator by pressing star then zero. I would now like to turn the conference over to Clive Johnson, President and CEO of B2Gold. Please go ahead.

Clive Johnson Thank you, operator. Good morning or afternoon or evening, everyone. Thanks for joining the call. We're here to talk about the financial results of this third quarter of 2025. We have a strong operational and financial quarter. Focola, Maspani, and Ochoa mines all came in ahead of expectations in the third quarter. On the production side, resulting in a lower than expected cash operating cost per ounce. On October 2nd of this year, we announced we've achieved commercial production at our newly constructed Goosevine. This milestone comes just three months after the inaugural goal, and we look forward to many years of successful operations. In Nunavut, in close collaboration with our partners, the Kittimia Inuit Association. The new third quarter production was impacted by the previous disclosed crushing capacity shortfall and a temporary delay in accessing higher grade of unwell underground. We are now in the higher grade. To ensure a consistent feed of crushed storage in the mill, the company has implemented the use of supplemental mobile crushing capacity. Permanent modification and modifications are in progress and are expected to be implemented in 2026. Continued use of the mobile crusher will assist in operating at higher throughput until these modifications are implemented. by the end of the year. Underground mining of the envelope deposit commenced in late October 2025 and will be a strong contributor to high-grade ore and goose over the next few years. In Namibia, B2Gold announced a new construction decision on the Antelope underground deposit. Production from Antelope has the potential to increase Ojibwe mine gold production, leveraging the low-cost platform and extend the life of the mine into the 2030s. In this strong gold price environment, B2Gold is well-positioned to take advantage of with an annual goal of production of approximately 1 million ounces. This year, with growth in capital spending, a goose is now complete. The company is set up well to have significant shareholder value over the coming years. Before I turn it over to Mike to give us more financial detail, I just want to talk a little bit about the political situation in Mali. We've had some news come out, what I think are some years, lots of headlines from some of the media, is going to take over Bamako and the country of Maui. We think that is completely erroneous, and that's a great exaggeration of the situation. Yes, there have been some fuel challenges, particularly in Bamako, but we continue to run the mine, as we have for many years now, and haven't missed any mining due to any kind of political situation or turmoil associated with that. So the mine continues to run well. We're 500 kilometers from Bamako. And we look at the situation that the government still enjoys popular support from the population. And then they see these organizations that are cutting off fuel to Bamako as foreigners. This is not the battle of the people of Bali from our understanding and from the intelligence that we have received. So operations can continue. It's nice to see some support from other governments, the United States and others. The U.S. came out and posted this thing. There's no Western company that wants to see Mali fall into other hands. And there's a lot of international support gathering. So we're very confident of our ability to continue to produce in Mali and work very closely with the Mali government. We're expecting the permit for a regional mining and trucking towards the Pakola Mill. That's imminent. And we received not that long ago the permit to go underground at Pakola. So we think we're on track there. And once again, we're not impacted by any of the Of the things going on in Mali right now, and we're disappointed to see this irrational or not true headlines that are running around the last little while, including us, the value would be too cold. With the benefit of time, I think we'll see that this is a situation not impacting the mine. With that, I'll hand it over to Mike to give us a financial summary of the quarter.

Thanks, Clive. As Clive said, financially it was a strong quarter. The gap earnings were one cent per share, but they were impacted by several non-cash derivative mark-to-market adjustments. And after adjusting for those one-time items, the company's earnings per share were 14 cents per share of adjusted earnings. And clearly, you can see that benefiting from the strong average gold sales price that we saw in the Q and continues now. The company recorded revenue of approximately $783 million in Q3. And that included $144 million related to the delivery of just over 66,000 ounces under the company's goal prepay obligations. And by the end of October, we had another delivery into those obligations. So we've now delivered into one-third of what we owe there. And that leaves us just under 200,000 ounces that we'll need to deliver into by the end of June. So we're in good shape there. Operating cash flows total $171 million in the third quarter, and or before working capital adjustments, $180 million, which is another strong result, and it highlights the continuing cash generating potential of our assets and the strong gold price environment. Balance sheet-wise, we continue to remain in a strong financial position with cash and cash equivalents of $367 million at the end of the quarter. During the quarter, we drew down, and as we disclosed last time, we drew down $200 million on the revolver That just helps us manage through some of the working capital. Timing differences that we have, especially as we deliver into the prepaids. So we'll continue to do that, but with these gold prices, we expect to repay some or all of it by the year end. So I'd say overall, we maintain excellent financial flexibility to deliver to the prepaids, complete our other sustaining growth initiatives. continue to fund the healthy exploration programs that we have, and I think continue to return capital under our shared buyback plan. So I think that's the summary that I want to touch on in the financial sections. And with that, I'll turn it over to Bill for an operation project update.