New Gold Announces Pricing of $400 million Senior Notes Offering to Fund Tender Offer for Outstanding 7.50% Senior Notes

(All amounts are in U.S. dollars unless otherwise indicated)

TORONTO, March 4, 2025 /CNW/ - New Gold Inc. ("New Gold" or the "Company") (TSX:NGD.TO) (NYSEAmerican:NGD) today announced the pricing of its previously announced offering of $400 million aggregate principal amount of 6.875% Senior Notes due 2032 (the "Notes"). The offering is expected to close on or about March 18, 2025, subject to customary closing conditions. New Gold intends to use the net proceeds from the offering of the Notes, together with cash on hand, to fund the purchase of any and all of its outstanding 7.50% senior notes due 2027 (the "Existing Notes") and to pay related fees and expenses. New Gold intends to use the remainder of the net proceeds, if any, to redeem any Existing Notes remaining outstanding following the Tender Offer (as defined below) at 100% of the principal amount thereof on or about July 15, 2025.