Mr. Mike Cinnamond reports

B2GOLD GRANTED FEKOLA REGIONAL EXPLOITATION PERMIT BY THE STATE OF MALI

The State of Mali has granted the Menankoto exploitation permit to B2Gold Corp.'s Malian subsidiary. The Menankoto exploitation permit, together with the Dandoko exploration permit, make up Fekola Regional, which is a key near-term production growth driver for B2Gold. The issuance of the Menankoto exploitation permit follows productive dialogue between B2Gold and the State of Mali that commenced in late July, 2025, and has continued until present. The discussions culminated in the receipt of both the approval to commence underground mining operations at the Fekola mine in July, 2025, and now the issuance of the Menankoto exploitation permit on Aug. 7, 2026. B2Gold and the State of Mali remain committed to the agreement entered into in September, 2024, related to the continuing operation and governance of the Fekola mine and Fekola Regional (together, the Fekola complex). Pursuant to the terms of the agreement, the Menankoto exploitation permit was issued under the 2023 Mining Code, while the Fekola mine remains subject to the 2012 Mining Code.

The Fekola complex comprises the Fekola mine (Medinandi permit hosting the Fekola and Cardinal open pits and Fekola underground), owned 80 per cent by B2Gold and 20 per cent by the State of Mali, and Fekola Regional (Menankoto exploitation permit and Dandoko permit), which will be owned 65 per cent by B2Gold and 35 per cent by the State of Mali. Fekola Regional is located approximately 20 kilometres from the Fekola mine.

Mike Cinnamond, president and chief executive officer of B2Gold, commented: "The issuance of the Menankoto exploitation permit is a significant milestone for both B2Gold and the State of Mali. The Fekola complex is currently the largest producing gold mine in Mali and issuance of the Menankoto exploitation permit secures the future of the operation well into the late 2030s. B2Gold is committed to working in a transparent manner to ensure the continuation of the positive and mutually beneficial partnership between the company and the State of Mali, for the benefit of the Malian people and all stakeholders. The company's total investment in Mali since 2014 has reached over $2-billion, and B2Gold is a significant employer with more than 3,300 workers, of which approximately 98 per cent are Malian nationals. Through its investments, B2Gold has provided major economic benefits, including job creation, training, capacity building and community investments, and looks forward to continuing to build on these benefits for many years to come."

With issuance of the Menankoto exploitation permit, mining prestripping activities and finalization of a tolling agreement will commence. Fekola Regional is expected to ramp up operations through the end of 2027 and produce in excess of 150,000 ounces per year from 2028 through the mid-2030s.

The Fekola complex is an important component of B2Gold's operating portfolio, with a robust annual production base and life of mine that extends well into the 2030s. The company will continue to identify opportunities to maximize the value of the Fekola complex for the benefit of B2Gold shareholders, the State of Mali and all stakeholders.

About B2Gold Corp.

B2Gold is a responsible international gold producer headquartered in Vancouver, Canada. Founded in 2007, today, B2Gold has operating gold mines in Canada, Mali, Namibia and the Philippines as well as numerous development and exploration projects in various countries.

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