Mr. Clive Johnson reports

B2GOLD COMPLETES PHASE 2 EXPANSION OF FEKOLA SOLAR PLANT IN MALI

B2Gold Corp.'s phase 2 expansion of the Fekola solar plant is complete and operational.

B2Gold commenced construction of the phase 2 solar plant expansion in June, 2023, with initial land clearing and road construction, and ramped up to physical equipment construction in February, 2024. The expansion of the Fekola solar plant was completed in the fourth quarter of 2024 and became operational in January, 2025. The phase 2 expansion included the construction of an additional 46,200 solar panels, increasing the total panel count of the Fekola solar plant to 142,912.

At the peak of construction, over 120 local jobs were generated, and 13 individuals have been trained and employed to maintain the Fekola solar plant expansion area following completion. The company also engaged with a local drilling company for services throughout the construction period, generating employment for local workers.

Operating at full capacity, the expansion to the Fekola solar plant will provide an additional 22 megawatts (MW) of solar capacity (52 MW total capacity) and 12.7 megawatt-hours (MWh) of battery capacity (27.7 MWh total capacity). The expanded Fekola solar plant is expected to reduce annual emissions by an estimated 63,000 tonnes of carbon dioxide equivalent (CO2e) and reduce the annual consumption of heavy fuel oil (HFO) by an estimated 20 million liters. The expanded Fekola solar plant is expected to supply approximately 30 per cent of the site's total electricity demand and is considered to be one of the largest off-grid solar/HFO hybrid power plants in the world.

Ken Jones, director of sustainability for B2Gold, commented: "The expansion of the Fekola solar plant is a significant initiative in support of B2Gold's emission reduction target. The expanded facility will allow the Fekola site team to turn off the HFO plant for a portion of the day during times of sufficient solar radiation, a tremendous achievement for B2Gold and a testament to our commitment to implementing renewable energy solutions."

B2Gold continues to investigate and implement new and existing renewable energy sources to power operations globally, and is actively pursuing additional decarbonization initiatives in an effort to mitigate climate risks and to progress toward achieving the company's target of a 30-per-cent reduction in scope 1 and 2 greenhouse gas emissions by 2030 against a 2021 baseline.

About B2Gold Corp.

B2Gold is a responsible international senior gold producer headquartered in Vancouver, Canada. Founded in 2007, today, B2Gold has operating gold mines in Mali, Namibia and the Philippines, the Goose project under construction in Northern Canada, and numerous development and exploration projects in various countries including Mali, Colombia and Finland. B2Gold forecasts total consolidated gold production of between 970,000 ounces and 1,075,000 ounces in 2025.

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