B2Gold Reports Update on Fire-Related Incident to the Crushing Circuit at the Goose Mine

Operational Incident at Goose Mine

• Event: A fire occurred in the crushing circuit at the Goose Mine on April 16, 2026.
• Damage Assessment: Localized to the secondary crusher screen and feed belt; no impact on mill or power facility. No injuries reported.
• Financial Impact: Estimated repair costs of approximately C$10 million.
• Production Guidance Revision: Q2 2026 gold production forecast for Goose Mine reduced from ~29,000 ounces to 18,000–20,000 ounces (approx. 10,000 oz reduction).
• Full Year Outlook: Full year 2026 guidance remains unchanged at 170,000–230,000 ounces for Goose Mine; consolidated guidance previously set at 820,000–970,000 ounces.
• Timeline: Repairs expected to be completed in Q3 2026, coinciding with scheduled addition of run-of-mine bin and apron feeder.

Financial Significance

• Cost vs. Revenue: The C$10 million repair cost is immaterial relative to B2Gold's 2025 revenue of US$3.06 billion and cash position of US$380 million (Dec 2025).
• Production Impact: A reduction of ~10,000 ounces in Q2 for Goose Mine represents a minor deviation from the full-year guidance range (Goose is projected to contribute ~25% of total consolidated production).
• Guidance Integrity: The decision to maintain full-year 2026 guidance indicates management confidence that the incident will not derail long-term cash flow generation or capital allocation plans.

Corporate Structure

• Headquarters: Vancouver, Canada (implied by TSX listing and NCIB details).
• Flagship Projects: Fekola Complex (Mali), Masbate Mine (Philippines), Otjikoto Mine (Namibia), Goose Mine (Canada/Nunavut).
• Goose Mine Status: New Canadian asset, achieved commercial production October 2025. Currently facing crushing circuit repairs.