Glass Lewis Endorses New Gold’s Arrangement with Coeur Mining

New Gold Inc. has received a significant endorsement from the independent proxy advisory firm, Glass Lewis & Co. LLC, which recommends that shareholders vote “FOR” the proposed plan of arrangement with Coeur Mining, Inc. This arrangement involves a wholly-owned subsidiary of Coeur acquiring all issued and outstanding common shares of New Gold. The vote is set to take place at a Special Meeting of New Gold shareholders on January 27, 2026, at 11:00 a.m. (Eastern Time).

This recommendation follows an earlier endorsement from another leading independent proxy advisory firm, Institutional Shareholder Services Inc., which also suggested a “FOR” vote on the transaction. Under the proposed terms, New Gold shareholders will receive 0.4959 shares of Coeur common stock for each share of New Gold they hold. Upon completion of the transaction, shareholders of Coeur and New Gold are expected to own approximately 62% and 38% of the combined entity, respectively.

In its evaluation of the transaction, Glass Lewis highlighted the strategic benefits, stating, “The transaction combines two precious metals mining companies to create a larger entity with increased production, market capitalization, and significant combined EBITDA and cash flow.” The advisory firm emphasized that this strong cash flow profile would enable the new company to invest in various organic growth opportunities. Additionally, the enhanced scale is anticipated to offer investors improved trading liquidity and potential inclusion in major U.S. indexes.

The potential benefits for New Gold shareholders include a market premium of approximately 16% and access to Coeur’s diverse portfolio of mining assets. Glass Lewis has also urged Coeur shareholders to vote “FOR” two proposals related to the transaction during their own stockholder meeting on the same day.

Shareholders of New Gold are reminded to cast their votes before the deadline of January 23, 2026, at 11:00 a.m. (Eastern Time). The Special Meeting will be held in person at Davies Ward Phillips & Vineberg LLP, located at 155 Wellington Street West, Suite 4000, Toronto, Ontario, and will also be accessible via live webcast.

Eligible New Gold shareholders should have received a copy of the management information circular, which contains detailed information on the transaction, along with a proxy form. These materials are also available online at www.VoteNewGold.com and through New Gold’s profiles on SEDAR+ and EDGAR.

For shareholders seeking assistance with the voting process, New Gold’s strategic shareholder advisor, Kingsdale Advisors, is available to provide support. They can be reached at 1-866-581-1477 in North America or 1-437-561-5022 for international inquiries.

New Gold, a Canadian-focused intermediate mining company, operates two key assets: the New Afton copper-gold mine and the Rainy River gold mine. The company aims to be a leading producer in the gold and copper sectors through responsible and profitable mining practices. More information about New Gold can be found at www.newgold.com.

This transaction is subject to various risks and uncertainties, as outlined in the management circular. Potential challenges include the possibility of shareholder disapproval, regulatory hurdles, and integration complexities post-transaction. Investors are encouraged to review these factors carefully to understand the implications of the proposed agreement.