New Gold Corporate Presentation BofA Global Metals, Mining & Steel Virtual Conference May 18 - 20, 2021 Cautionary Statements ALL AMOUNTS IN U.S. DOLLARS UNLESS OTHERWISE STATED CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Certain information contained in this presentation, including any information relating to New Gold's future financial or operating performance are "forward-looking". All statements in this presentation, other than statements of historical fact, which address events, results, outco ...

New Gold Inc. (NYSE:NGD) Q1 2021 Earnings Conference Call May 5, 2021 8:30 AM ET Company Participants Ankit Shah - Vice President, Strategy and Business Development Renaud Adams - President and Chief Executive Officer Rob Chausse - Executive Vice President and Chief Financial Officer Conference Call Participants Trevor Turnbull - Scotiabank Operator Hello and thank you for standing by, and welcome to the New Gold First Quarter 2021 Earnings Conference Call. [Operator instructions] Please be advised that tod ...

Q1 2021 Earnings Call and Webcast May 5, 2021 Cautionary Statements ALL AMOUNTS IN U.S. DOLLARS UNLESS OTHERWISE STATED CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Certain information contained in this presentation, including any information relating to New Gold's future financial or operating performance are "forward-looking". All statements in this presentation, other than statements of historical fact, which address events, results, outcomes or developments that New Gold expects to occur are "fo ...

Financial Data and Key Metrics Changes - In Q4 2020, the company produced 120,567 gold equivalent ounces, which included 66,734 gold ounces from Rainy River and 16,362 gold ounces from New Afton, reflecting higher grades compared to the prior year quarter [9][10] - Q4 revenue was approximately $199 million, a 43% increase from the prior year quarter, driven by higher metal prices and production volumes [11] - The company recorded a net loss of $21.1 million or $0.03 per share in Q4 2020, compared to earnings of $0.00 per share in Q4 2019, but adjusted net earnings were $27.9 million or $0.04 per share [12] Business Line Data and Key Metrics Changes - Rainy River produced 83,096 gold ounces in Q4, with operating expenses per equivalent ounce lower than the prior year due to increased production and sales volume [10] - New Afton contributed 16,362 gold ounces in Q4, with significant progress in the B3 zone development expected to ramp up in 2021 [41][43] Market Data and Key Metrics Changes - The average realized price for gold was $1,623 per ounce, while copper was sold at $3.34 per pound in Q4 2020 [11] - The company expects to produce between 440,000 and 490,000 equivalent gold ounces in 2021, with gold production estimated between 322,000 and 352,000 ounces [17] Company Strategy and Development Direction - The company aims to position Rainy River for increased production and reduced costs, with a focus on free cash flow generation starting in 2021 [28][30] - New Gold is committed to health and safety, with a significant focus on environmental and social responsibilities [22][23] - The company plans to accelerate the development of the Intrepid Zone, which is expected to enhance production and extend the mine's life [35][39] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving free cash flow in 2021, despite uncertainties in metal prices [61] - The company is focused on maintaining a healthy balance sheet while pursuing growth opportunities and optimizing operations [26][80] Other Important Information - The company completed a $200 million redemption of senior notes, leaving a balance of $100 million [15] - Capital expenditures for Q4 2020 totaled $69.2 million, primarily for sustaining capital projects at Rainy River and New Afton [14] Q&A Session Summary Question: Capital numbers for New Afton and Rainy River - Management explained that the capital range reflects the potential for performance improvements and development timelines [54][57] Question: Focus on free cash flow - Management confirmed a strong focus on achieving free cash flow, with expectations for positive cash flow generation in 2021 [60][61] Question: Mining, milling, G&A costs - Management indicated that specific unit costs would be referenced against the 43-101 report, with expectations for recovery in 2022 [63][64] Question: Permit limits on processing at Rainy River - Management discussed ongoing conversations regarding potential permit adjustments, emphasizing the importance of maintaining mine life [71][74] Question: Thoughts on monetizing streams - Management expressed no immediate need to monetize streams, preferring to retain strategic assets while focusing on free cash flow [78][82]

New Gold, Inc. (NYSE:NGD) Q3 2020 Earnings Conference Call November 5, 2020 8:30 AM ET Company Participants Anne Day - Vice President, Investor Relations Renaud Adams - President and Chief Executive Officer Robert Chausse - Executive Vice President and Chief Financial Officer Conference Call Participants Operator Ladies and gentlemen, thank you for standing by, and welcome to the New Gold Third Quarter 2020 Earnings Conference Call. At this time, all the participant lines are in a listen-only mode. After th ...

Q3 Conference Call & Webcast November 5, 2020 Cautionary Statements ALL AMOUNTS IN U.S. DOLLARS UNLESS OTHERWISE STATED CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Certain information contained in this presentation, including any information relating to New Gold's future financial or operating performance is "forward looking". All statements in this presentation, other than statements of historical fact, which address events, results, outcomes or developments that New Gold expects to occur are "for ...

Financial Data and Key Metrics Changes - In Q2 2020, the company reported revenue from continuing operations of $128.5 million, a 17% decrease compared to the prior year quarter due to lower grades, partially offset by higher gold prices [10] - The company produced approximately 98,000 gold equivalent ounces, which included 64,294 gold ounces, reflecting lower production compared to the prior year due to lower grades at Rainy River and New Afton [9] - The net loss for Q2 was $45.6 million or $0.07 per share, compared to a loss of $0.06 per share in Q2 2019 [11] Business Line Data and Key Metrics Changes - At Rainy River, gold production was 48,800 ounces, while New Afton contributed 15,500 ounces, leading to a total of 64,294 gold ounces produced [9] - The all-in sustaining cost for the quarter was $12.83 per equivalent ounce, which is 18% higher than the prior year due to lower grades and higher sustaining capital [9] - Cash costs at Rainy River were reported at $890 per gold equivalent ounce, while New Afton reported cash costs of $644 per gold equivalent ounce [22][27] Market Data and Key Metrics Changes - The average realized gold price for the quarter was $1,560 per ounce, while copper was sold at $2.51 per pound [10] - The company expects total estimated gold production for 2020 to be between 284,000 to 304,000 ounces, with copper production estimated at 65 million to 85 million pounds [20] Company Strategy and Development Direction - The company has closed a $300 million partnership with the Ontario Teachers' Pension Plan and divested the Blackwater project for CAD190 million, which will enhance its balance sheet [6] - Future operations are expected to return to pre-COVID levels, with a focus on free cash flow generation beginning in 2021 [7] - The company is positioned for a self-funded approach at New Afton while unlocking free cash flow [35] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the operational performance despite challenges posed by COVID-19, highlighting the successful ramp-up of operations at Rainy River [5][22] - The company is optimistic about its future, with a focus on reducing debt and exploring opportunities at both Rainy River and New Afton [36][39] - Management noted that the current liquidity is approximately $560 million, which supports operations during the crisis [17] Other Important Information - The company has implemented COVID-19 rapid testing at Rainy River to enhance safety measures for employees [17] - The Blackwater asset is now classified as held for sale, with a $38 million unrealized impairment loss recorded [11] Q&A Session Summary Question: Discussion on free cash flow generation and its application - Management is excited about exploration opportunities at New Afton and Rainy River, pending permit completion [34] - The company plans to reduce debt by approximately $200 million in the near term using existing liquidity [37] Question: Confirmation on bond deal and debt redemption - Management confirmed the intention to redeem $200 million of 2025 notes later in the year, likely funded by proceeds from the Blackwater sale [49][50]

Financial Performance - Q2 2020 gold equivalent production was 98,079 ounces, compared to 132,556 ounces in Q2 2019[7] - Revenues from mining operations in Q2 2020 were $128.5 million, down from $155.1 million in Q2 2019[10] - The average realized gold price in Q2 2020 was $1,516 per ounce, compared to $1,304 per ounce in Q2 2019[10] - All-in sustaining costs (AISC) in Q2 2020 were $1,283 per gold equivalent ounce, compared to $1,087 in Q2 2019[7] Liquidity and Capital Structure - Available liquidity as of June 30, 2020, was approximately $560 million, including $295 million in cash and cash equivalents and $265 million available under the credit facility[24] - The company completed a $300 million partnership with Ontario Teachers' Pension Plan on March 31, 2020[23] - The company expects C$190 million in cash proceeds from the divestment of the Blackwater Project, expected to close in Q3 2020[23] Operational Updates and Guidance - Revised 2020 consolidated gold production guidance is 284,000 - 304,000 ounces[33] - Revised 2020 consolidated gold equivalent production guidance is 415,000 - 455,000 ounces[33] - Revised 2020 all-in sustaining costs (AISC) guidance is $1,410 - $1,490 per gold equivalent ounce[33] - Sustaining capital and sustaining leases are estimated at $207 - $232 million for 2020[33]