B2Gold Corp.

Thank you for standing by. This is the conference operator. Welcome to the B2Gold Corporation's 3rd Quarter 2026 Financial Results Conference Call. As a reminder, all participants are in a listen-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 1 on your telephone keypad. You will hear a tone acknowledging your request. Should you need assistance during the conference call, you may reach an operator by pressing star then 0. I would now like to turn the conference over to Mike Cinnamond, President and CEO of B2Gold. Please go ahead.

Thank you, operator, and good morning. Good morning, everyone. I think this third quarter, it was a strong quarter for V2Gold, and I think it reinforces the progress that we've made in strengthening the business over recent months. You saw we delivered solid operating results with more than 193,000 ounces of gold produced, and it I think it puts us well on track to deliver our full year production guidance. And also, based on that strong year-to-date performance, I'm also pleased to announce that we're also lowering our consolidate all-in sustaining cost guidance for the year by more than $100 an ounce at the midpoint. And in the period, we generated $48 million in free cash flow, and that reflects the improving trajectory of the business, I think, The major construction and ramp-up spending in Goose is now behind us, and our Gold prepaid commitments completed by the end of June this year, we're entering a period of increasing free cash flow generation for the company. I think that the third quarter also was highlighted by a couple of important achievements. As you know, the first one at Focola, we received a Manan Kodo exploitation permit and have since commenced stripping activities there. This definitely represents an important step forward to bring Focola Regional Ore into the mine plan, which we've given guidance that we expect to commence earlier in 2027. And Anna Goose, completion of the phase one crushing circuit upgrades shortly after the quarter end. That represents another important step in the ramp up of that operation. And those are the two of the key objectives that we kind of laid out earlier in the year. And I'm very pleased to see that we're making progress. as we go there. So you'll hear more from Bill and get more detail on the focozal regional permit and the goose crushing circuit plans shortly in Bill's comments. And we also continued returning capital to shareholders. We distributed $59 million through dividends and share repurchases during the quarter and that included $33 million in share buybacks, so we're continuing to pursue that program. I think as our free cash flow profile continues to grow, will remain focused on a disciplined approach, I'd say, to capital allocation. We'll balance returns to shareholders with investment in our existing operations, as well as, as we've talked about before, expiration opportunities across our portfolio. And actually, on expiration news, at the end of September, we released results from the ongoing expiration program at Goose and the Back River District, and In addition, in those results, there were some excellent infill results at Lama and Novolyuk, which increases our confidence in the underground resource base there. But we also announced a discovery of high-grade mineralization on the western limb of the banded iron formation that hosts Novolyuk. And this discovery, which is about, I think it's about 150 meters down plunge from the known mineralization, the discovery's been named Tatook. and the grade, the host rock of Tatook Intersection were very encouraging, I think. And also it signifies the first new discovery of goose since we acquired the project, so very excited about that. You'll see us continue to pursue exploration there. Looking at the balance of the year, I think we expect an even stronger fourth quarter, driven primarily by goose, and where mill throughput Krohnert. And, you know, when we look forward to 2027, we see several important catalysts that should really continue to strengthen both our production and our cash flow profile. So we'll have Focola Regional is expected to begin contributing more earlier in the year. Phase 2 upgrades at Goose are expected to further increase throughput around the mid-year. Development work at Antelope deposited at Ochicota that's progressing well and we're also exploring opportunities for mine life extensions at Miss Batty using the lands perhaps higher gold price assumptions there so there's still some work to do on that but we're we're looking at that and you know we'll pursue that as we go through next year. Final comment I'd make yeah I mentioned the prepaids are delivered into by June already and we have some remaining gold collar contracts but the last of those are scheduled to roll off in January 27. So I'd say overall, I'm very pleased with the direction we're heading in as a business. We're delivering against our operational objectives. Financial flexibility or balance sheet strength is improving. And as I just mentioned, we have several important catalysts ahead of us for 27. So together, I think these position the company well to generate stronger free cash flow and to continue I'm creating value for all our shareholders. So I'll now hand over the call to Michael McDonald to discuss the financial highlights for the quarter. So over to you, Michael.

Thanks, Mike, and good morning, everyone. Revenue for the quarter was $836 million, driven by consolidated gold sales of approximately 195,000 ounces at an average realized gold price of $4,287 per ounce. Importantly, as Mike mentioned, this was our first full quarter of sales at spot gold price following the completion of the gold prepaid deliveries in June 2026, a big milestone for the company. Net income attributable to shareholders was $409 million, or $0.31 per share. Net income benefited from a $253 million impairment reversal at the Ficola Complex, and many more. After adjusting for those items and other non-recurring impacts, adjusted net income attributable to shareholders was $183 million, or 14 cents per share, a very strong result and what was always forecast to be the lowest gold production quarter for the year for B2Gold. It's important to note that adjusted net income was also reduced by $47 million of realized losses related to our gold collar contracts during the quarter. Excluding those realized losses, adjusted net income would have been materially higher. The remaining gold collar contracts finished in December, 2026, at which point B2Gold will be completely unencumbered by both gold prepay and gold collar contracts for all of 2027. Operating cash flow before working capital adjustments was $387 million, or 29 cents per share, during the quarter, while operating cash flow after working capital adjustments was $239 million. As expected, we are beginning to see the benefit from the completion of the gold prepay contract which allows us to fully realize prevailing gold prices on all ounces sold. Free cash flow for the quarter was $48 million. This result reflects continued investment in Goose as the operation advances through ramp-up while also benefiting from stronger realized gold prices and improving operational performance across the portfolio. That had not yet been sold at quarter end, as well as approximately $29 million of costs associated with the mobile crusher purchase and fire remediation work. These included approximately $12 million for the mobile crusher and $17 million for remediation work related to the fire from earlier this year. Our balance sheet remains very strong. At quarter end, we held $294 million in cash and cash equivalents, had working capital of $497 million, and had approximately $705 million available under our revolving credit facility. This liquidity position provides significant flexibility as Goose continues to ramp up and as we advance growth opportunities across the business. Looking ahead, as Mike mentioned, We have lowered our consolidated all-in-sustaining cost guidance for the year to between $2,230 and $2,410 per gold outsold. The improved outlook reflects strong year-to-date operating performance across the portfolio, particularly at Masbari and Ojikoto, together with lower expected costs at FACOLA. The improvement at Ms. Boddy primarily reflects the strong production performance we have seen throughout the year, which has allowed the operation to benefit from greater fixed cost leverage on a per ounce basis. With that, cash costs have been lowered to $800 to $900 per gold ounce produced, $100 per ounce below the previously guided range, and all in sustaining costs have been lowered to $1,250 to $1,400 per gold ounce and many more. Thank you. Thank you. and others. The lower costs are mostly a factor of lower royalties paid as a result of a lower gold price than what we had assumed when we set guidance at the start of the year. It is a good position to be in at this stage of the year and the rest. With that, I'll now turn the call over to Bill for an operational update.