New Gold (NGD) Scotiabank Mining Conference 2024 Presentation summary

Strategic overview and investment highlights

• Focus on long-term shareholder value with operational excellence and growth in gold and copper production, all assets located in Canada.

• 2024 gold production guidance of 300-310 koz, tracking in line with updated guidance.

• Projected 35% increase in gold and 60% increase in copper production from 2023 to 2026.

• Enhanced financial flexibility with $459 million liquidity and no debt due until 2027.

Portfolio and operational performance

• Two core operations: Rainy River (Ontario, open pit/underground) and New Afton (BC, underground block cave).

• Rainy River 2024 guidance: 230-240 koz gold; New Afton: 60-70 koz gold, 50-60 Mlb copper.

• Rainy River mine life to 2031, New Afton to 2030, with opportunities for extension.

• C-Zone at New Afton achieved commercial production in Q4 2024, driving growth.

Production, cost, and capital guidance

• Targeting 42% production growth, aiming for a sustainable platform of ~600 koz gold equivalent per year until at least 2030.

• 51% reduction in all-in sustaining costs (AISC) and 77% reduction in growth capital over next three years.

• 2024 consolidated gold production expected at 300-310 koz, copper at 50-60 Mlb.

• 2024 AISC per gold ounce expected at $1,240-$1,340, with total capital at $290-$330 million.