B2GOLD CORP

Ticker: BTG CUSIP: 11777Q209 Class: COM

Pale Fire Capital SE's Holding History (CIK: 0001922318)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025

Shares 39,311,603 Value ($000) $177,295 Avg Close $4.66 Range $3.71 - $5.94

Q3 2025

Shares 50,015,909 Value ($000) $247,579 Avg Close $3.93 Range $3.31 - $5.07

Q2 2025

Shares 65,760,909 Value ($000) $237,397 Avg Close $3.27 Range $2.52 - $3.83

Q1 2025

Shares 64,838,409 Value ($000) $184,789 Avg Close $2.66 Range $2.17 - $3.33

Q4 2024

Shares 52,419,026 Value ($000) $127,902 Avg Close $2.87 Range $2.37 - $3.41

Q3 2024

Shares 17,186,079 Value ($000) $52,933 Avg Close $2.80 Range $2.25 - $3.33

Q2 2024

Shares 19,327,718 Value ($000) $52,185 Avg Close $2.56 Range $2.33 - $2.90

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	39,311,603	$177,295	$4.66	$3.71 - $5.94
Q3 2025	50,015,909	$247,579	$3.93	$3.31 - $5.07
Q2 2025	65,760,909	$237,397	$3.27	$2.52 - $3.83
Q1 2025	64,838,409	$184,789	$2.66	$2.17 - $3.33
Q4 2024	52,419,026	$127,902	$2.87	$2.37 - $3.41
Q3 2024	17,186,079	$52,933	$2.80	$2.25 - $3.33
Q2 2024	19,327,718	$52,185	$2.56	$2.33 - $2.90