MANAGEMENT’S DISCUSSION AND ANALYSIS All dollar figures are in United States dollars and tabular dollar amounts are in millions, unless otherwise noted. For the year ended December 31, 2022. The following Management’s Discussion and Analysis (“MD&A”) provides information that management believes is relevant to an assessment and understanding of the consolidated financial condition and results of operations of New Gold Inc. and its subsidiaries (“New Gold” or the “Company”). This MD&A should be read in conju ...