Forging the Path Forward
Overview Report | 2022

New Gold Inc. 
Forging the Path Forward  
Overview Report | 2022
2
TABLE OF CONTENTS
Cautionary Note Regarding 
Forward-looking Statements	 2
Forging the Path Forward	
3
2022 ESG Performance 
Highlights	
4
Message from the President
and Chief Executive Officer	
5
About New Gold	
6
Our Approach to
Sustainability	
8
2022 Materiality Assessment	
12
Performance Highlights	
13
Awards, Memberships
and Initiatives	
14
Contact Us	
15
New Gold Inc.’s (“New Gold” or the “Company”) 2022 ESG Report, finalized as of June 
16th, 2023 and certain information contained in this 2022 ESG Report, including 
any information relating to New Gold’s future financial or operating performance are 
“forward looking”. All statements in this 2022 ESG Report, other than statements 
of historical fact, which address events, results, outcomes or developments that 
New Gold expects to occur are “forward-looking statements”. Forward-looking 
statements are statements that are not historical facts and are generally, but 
not always, identified by the use of forward-looking terminology such as “plans”, 
“expects”, “is expected”, “budget”, “scheduled”, “targeted”, “estimates”, “forecasts”, 
“intends”, “anticipates”, “projects”, “potential”, “believes” or variations of such words 
and phrases or statements that certain actions, events or results “may”, “could”, 
“would”, “should”, “might” or “will be taken”, “occur” or “be achieved” or the negative 
connotation of such terms. Forward-looking statements in this 2022 ESG Report 
include among others, statements with respect to: New Gold’s commitment to the 
environment and surrounding communities; projected potential of the Intrepid 
underground zone; projected mining of first ore from the C-Zone and the timing 
thereof; planned activities and focus areas as well as the timing thereof at the Rainy 
River mine and New Afton mine, including planned development and exploration 
activities and related expenses; projected life of mine for Rainy River and New Afton 
and the potential extension thereof; the Company’s sustainability strategy goals 
and intended timing thereof; New Gold’s current approach to ESG reporting and 
intended approach moving forward; intended UN SDG targets and planned progress 
towards UN SDG goals; the Company’s environmental commitments, including GHG 
reduction commitment and intended pursuit of reduction opportunities; planned 
updating of the TCFD Report in 2023; planned mapping of Scope 3 GHG emissions; 
intended increase in reclamation efforts over time; the Company’s aims for mine 
closure planning; the potential extension of New Afton’s Life of Mine plan; timing 
expectations for the completion of New Afton closure plans, including the Beyond 
New Afton Plan; the continued progression and consultation program relating to the 
Beyond Rainy River Plan; the Company’s tailing management practices, including 
post-closure practices and strategies, and the continued review and improvement 
thereof; planned upcoming dam safety reviews; expected lower overall water 
consumption at New Afton; the continued improvement of site practices as it 
relates to tailings management and otherwise; intended use of New Afton’s water 
balance model; the planned update to Rainy River’s water balance model; goals 
and anticipated benefits surrounding community engagement, human capital 
and Indigenous rights; plans to expand the Assertiveness for Women in Business 
pilot project in 2023; the Company’s learning and development opportunities for 
employees; the completion of a permanent pump-back system at New Afton by year 
end; potential opportunities for New Gold to reduce GHG emissions; New Gold’s 
climate change and action commitments, intended next steps and the timing thereof; 
anticipated impacts on operations as a result of climate change; the Company’s 
Indigenous rights commitments, intended next steps and the timing thereof; 
the Company’s commitments to tailings management and proposed methods 
for improving practices, and the timing thereof; the Company’s commitment to 
water management, intended next steps and the timing thereof; and anticipated 
changes in the way the Company operates in response to climate change. All 
forward-looking statements in this 2022 ESG Report are based on the opinions and 
estimates of management as of the date such statements are made and are subject 
to important risk factors and uncertainties, many of which are beyond New Gold’s 
ability to control or predict. Certain material assumptions regarding such forward-
looking statements are discussed in this 2022 ESG Report, New Gold’s annual and 
quarterly management’s discussion and analysis (“MD&A”) and its other publicly filed 
documents available on SEDAR (www.sedar.com) and EDGAR (www.sec.gov). 
In addition to assumptions discussed in more detail elsewhere, the forward-looking 
statements in this 2022 ESG Report are also subject to the following assumptions: 
(1) there being no significant disruptions affecting New Gold’s operations; (2) political 
and legal developments in jurisdictions where New Gold operates, or may in the 
future operate, being consistent with New Gold’s current expectations; (3) the 
accuracy of New Gold’s current Mineral Reserve and Mineral Resource estimates 
and the grade of gold, copper and silver expected to be mined; (4) the exchange 
rate between the Canadian dollar and U.S. dollar, and to a lesser extent the Mexican 
peso, and commodity prices being approximately consistent with current levels and 
expectations for the purposes of 2023 guidance and otherwise; (5) prices for diesel, 
natural gas, fuel oil, electricity and other key supplies being approximately consistent 
with current levels; (6) equipment, labour and material costs increasing on a basis 
consistent with New Gold’s current expectations; (7) arrangements with First Nations 
and other Indigenous groups in respect of the Rainy River Mine and New Afton Mine 
being consistent with New Gold’s current expectations; (8) all required permits, 
licenses and authorizations being obtained from the relevant governments and other 
relevant stakeholders within the expected timelines and the absence of material 
negative comments or obstacles during any applicable regulatory processes; (9) 
the results of the life of mine plans for the Rainy River Mine and the New Afton 
Mine described herein being realized; (10) there being no material disruption to the 
Company’s supply chains and workforce at either the Rainy River Mine or New Afton 
Mine due to cases of COVID-19 or otherwise that would interfere with the Company’s 
anticipated course of action at its operations. 
Forward-looking statements are necessarily based on estimates and assumptions 
that are inherently subject to known and unknown risks, uncertainties and other 
factors that may cause actual results, level of activity, performance or achievements 
to be materially different from those expressed or implied by such forward-looking 
statements. Such factors include, without limitation: price volatility in the spot 
and forward markets for metals and other commodities; discrepancies between 
actual and estimated production, between actual and estimated costs, between 
actual and estimated Mineral Reserves and Mineral Resources and between 
actual and estimated metallurgical recoveries; equipment malfunction, failure or 
unavailability; accidents; risks related to early production at the Rainy River Mine, 
including failure of equipment, machinery, the process circuit or other processes 
to perform as designed or intended; the speculative nature of mineral exploration 
and development, including the risks of obtaining and maintaining the validity 
and enforceability of the necessary licenses and permits and complying with the 
permitting requirements of each jurisdiction in which New Gold operates, including, 
but not limited to: uncertainties and unanticipated delays associated with obtaining 
and maintaining necessary licenses, permits and authorizations and complying 
with permitting requirements; changes in project parameters as plans continue to 
be refined; changing costs, timelines and development schedules as it relates to 
construction; the Company not being able to complete its construction projects 
at the Rainy River Mine or the New Afton Mine on the anticipated timeline or at all; 
volatility in the market price of the Company’s securities; changes in national and 
local government legislation in the countries in which New Gold does or may in the 
future carry on business; compliance with public company disclosure obligations; 
controls, regulations and political or economic developments in the countries 
in which New Gold does or may in the future carry on business; the Company’s 
dependence on the Rainy River Mine and New Afton Mine; the Company not being 
able to complete its exploration drilling programs on the anticipated timeline or at 
all; inadequate water management and stewardship; disruptions to the Company’s 
workforce at either the Rainy River Mine or the New Afton Mine, or both, due to 
cases of COVID-19 or otherwise; the responses of the relevant governments to any 
disease, epidemic or pandemic outbreak, including the COVID-19 outbreak, not being 
sufficient to contain the impact of such outbreak; disruptions to the Company’s 
supply chain and workforce due to any disease, epidemic or pandemic outbreak, 
including the COVID-19 outbreak; an economic recession or downturn as a result 
of any disease, epidemic or pandemic outbreak, including the COVID-19 outbreak, 
that materially adversely affects the Company’s operations or liquidity position; 
there being further shutdowns at the Rainy River Mine or New Afton Mine; significant 
capital requirements and the availability and management of capital resources; 
additional funding requirements; diminishing quantities or grades of Mineral 
Reserves and Mineral Resources; actual results of current exploration or reclamation 
activities; uncertainties inherent to mining economic studies including the Technical 
Reports for the Rainy River Mine and New Afton Mine; impairment; unexpected 
delays and costs inherent to consulting and accommodating rights of First Nations 
and other Indigenous groups; climate change, environmental risks and hazards and 
the Company’s response thereto; tailings dam and structure failures; ability to obtain 
and maintain sufficient insurance; actual results of current exploration or reclamation 
activities; fluctuations in the international currency markets and in the rates of 
exchange of the currencies of Canada, the United States and, to a lesser extent, 
Mexico; global economic and financial conditions and any global or local natural 
events that may impede the economy or New Gold’s ability to carry on business in the 
normal course; inflation; compliance with debt obligations and maintaining sufficient 
liquidity; taxation; fluctuation in treatment and refining charges; transportation and 
processing of unrefined products; rising costs or availability of labour, supplies, 
fuel and equipment; adequate infrastructure; relationships with communities, 
governments and other stakeholders; geotechnical instability and conditions; labour 
disputes; the uncertainties inherent in current and future legal challenges to which 
New Gold is or may become a party; defective title to mineral claims or property 
or contests over claims to mineral properties; competition; loss of, or inability 
to attract, key employees; use of derivative products and hedging transactions; 
reliance on third-party contractors; counterparty risk and the performance of third 
party service providers; investment risks and uncertainty relating to the value of 
equity investments in public companies held by the Company from time to time; 
the adequacy of internal and disclosure controls; conflicts of interest; the lack of 
certainty with respect to foreign operations and legal systems, which may not be 
immune from the influence of political pressure, corruption or other factors that 
are inconsistent with the rule of law; the successful acquisitions and integration 
of business arrangements and realizing the intended benefits therefrom; and 
information systems security threats. In addition, there are risks and hazards 
associated with the business of mineral exploration, development, construction, 
operation and mining, including environmental events and hazards, industrial 
accidents, unusual or unexpected formations, pressures, cave-ins, flooding or 
drought and gold bullion losses (and, in each case, the risk of inadequate insurance 
or inability to obtain insurance to cover these risks) as well as “Risk Factors” included 
in New Gold’s latest annual information form. Forward-looking statements are 
not guarantees of future performance, and actual results and future events could 
materially differ from those anticipated in such statements. All of the forward-looking 
statements contained in this 2022 ESG Report are qualified by these cautionary 
statements. New Gold expressly disclaims any intention or obligation to update or 
revise any forward-looking statements whether as a result of new information, events 
or otherwise, except in accordance with applicable securities laws.
Cautionary Note Regarding Forward-looking Statements

New Gold Inc. 
Forging the Path Forward  
Overview Report | 2022
3
TABLE OF CONTENTS
Cautionary Note Regarding 
Forward-looking Statements	
2
Forging the Path Forward	
3
2022 ESG Performance 
Highlights	
4
Message from the President
and Chief Executive Officer	
5
About New Gold	
6
Our Approach to
Sustainability	
8
2022 Materiality Assessment	
12
Performance Highlights	
13
Awards, Memberships
and Initiatives	
14
Contact Us	
15
Forging the Path Forward
As we evolve our Sustainability Strategy, we have 
also evolved our reporting. For 2022, we transitioned 
to an Environmental, Social and Governance (ESG) 
Report to better reflect our work and align with the 
current reporting landscape. We have also updated
our ESG Report to be more concise and, in addition 
to this general overview, created three standalone 
reports on its main focus areas – environment,
social and governance. We are proud of New Gold’s 
accomplishments over the last year and look to the 
future as we continue forging the path forward.
OUR SUSTAINABILITY ICON
The three Anchors of New Gold’s Sustainability Strategy – Environment, 
Indigenous Rights and Community Engagement – are represented by four 
symbols in our Sustainability Icon. The leaf represents our commitment 
to environmental stewardship, and the feather, our promise to honour 
Indigenous culture and traditions. The globe represents our accountability 
to the local and global communities, and the arrow represents New Gold’s 
dedication to progress. 
Together, these elements represent our holistic approach to sustainability 
as a means to achieve New Gold’s Mission and express New Gold’s
Core Values.
* All dollar amounts stated in Canadian dollars, unless otherwise noted.

New Gold Inc. 
Forging the Path Forward  
Overview Report | 2022
4
TABLE OF CONTENTS
Cautionary Note Regarding 
Forward-looking Statements	
2
Forging the Path Forward	
3
2022 ESG Performance 
Highlights	
4
Message from the President
and Chief Executive Officer	
5
About New Gold	
6
Our Approach to
Sustainability	
8
2022 Materiality Assessment	
12
Performance Highlights	
13
Awards, Memberships
and Initiatives	
14
Contact Us	
15
2022 ESG Performance Highlights
ENVIRONMENTAL
327 tCO2
equivalent saved from four BEV
(based on annualized 2022 hours of operation)
~50
hectares of newly rehabilitated land
Updated
Water Balance Models at both sites
SOCIAL
18%
female employees across our operations
23%
Indigenous-identified employment
across our operations
0.95
Total Recordable Injury Frequency Rate 
(TRIFR)
GOVERNANCE
38%
female representation on Board of Directors
4
new ESG Strategy Statements
Updated
and implemented Company-wide
Code of Business Conduct Training
Learn more about New Gold’s 2022 performance 
in our companion reports for Environmental, 
Social and Governance.
Read the reports >

New Gold Inc. 
Forging the Path Forward  
Overview Report | 2022
5
TABLE OF CONTENTS
Cautionary Note Regarding 
Forward-looking Statements	
2
Forging the Path Forward	
3
2022 ESG Performance 
Highlights	
4
Message from the President
and Chief Executive Officer	
5
About New Gold	
6
Our Approach to
Sustainability	
8
2022 Materiality Assessment	
12
Performance Highlights	
13
Awards, Memberships
and Initiatives	
14
Contact Us	
15
At New Gold, sustainability is about caring for the communities in which 
we operate and considering the environmental and social impacts of our 
operations. This means working to limit our environmental impact by 
effective water and tailings management and by reducing greenhouse gas 
emissions. It means working with First Nations and local communities in 
a respectful and transparent manner to generate economic benefits and 
well-being. It means working on diversity, equity and inclusion within our 
organization. It means having the courage to care for each other’s safety. 
Together, we are working to forge the path forward.
In 2022, we withstood extreme weather events that affected our ability to 
deliver on our plans, particularly at our Rainy River Mine. From freezing 
temperatures to torrential and unrelenting rains, our team was challenged 
to mitigate the impacts on production. At our New Afton Mine, the threat 
of wildfires continues to increase as conditions become dryer and hotter. 
By year-end, our teams had pulled together to achieve our updated 
guidance, despite every hurdle that stood in our way. We are seeing the 
impacts of climate change play out right in front of our eyes. As much as 
the natural world around us has the ability to impact us and our work, we 
also recognize our own ability to make impacts, and we are committed to 
continued stewardship of the water, air and land in the communities in which 
we operate.
We achieved significant milestones at both of our mines during the year.
In March, New Gold filed an updated Technical Report for the Rainy River 
Mine. This Technical Report signifies a shift to the next phase of the mine,
as we begin to mine underground. In 2022, New Afton began tailings 
deposition from the new Thickened and Amended Tailings Facility – an 
innovative and forward-thinking approach to tailings management that has 
been years in the making. New Afton also made significant development 
progress with the C-Zone project and received its mining permit 
amendment to mine the C-Zone in October, a pivotal milestone in the 
realization of New Afton’s future.
Success means nothing if it cannot be achieved safely. As a team, our 
commitment to a safe workplace has never wavered and – in 2022, we saw 
this reflected in our improved safety performance. Safety is one of the 
most meaningful ways we can show our respect for one another. When we 
observe unsafe work, hazards or near misses, it is an act of care to stop, 
intervene and say something. At New Gold, we have the courage to care for 
those around us and ourselves because it is not only our duty and because 
it is who we are as people.
Last year, the theme of our report was resilience, and it exemplified the 
perseverance and resolve that our people demonstrated over the past 
several years, allowing us to navigate complex and unexpected obstacles. 
Now, we find ourselves at the start of a new and exciting chapter – the new 
New Gold – and by leading with our values, keeping our focus on our goals 
and having the courage to care for our community and for one another at 
every step, we will forge our own path forward.
Patrick Godin
President and Chief Executive Officer
Message from the President and Chief Executive Officer
ANALYSTS CORNER 
Disclosures and Indices Tags
GRI 2-22
PERSPECTIVES
Each of these leaders plays a critical role to ensure that 
New Gold is forging a path forward.
“We are seeing the industry change rapidly and the need for companies to 
integrate sustainability into all areas of the Company. Sustainability is no longer 
a standalone action but rather a collective effort to improve business, protect 
the planet, and support stakeholders at every stage of mining.”
Beth Borody, Vice President, Sustainability
“I would like to thank everyone for your commitment to New Afton and especially 
keeping safety and well-being as our number one priority. We strive for a 
culture of zero harm, and we should continue to do so.
There have been many great accomplishments and the site worked hard to 
safely bring B3 production online and to develop C-Zone was a testament
to all of our values, especially teamwork and commitment from the resilience
of our people.
We will continue to forge ahead with our stabilization program and remain on 
track with C-Zone first ore in Q4 2023.”
John Ritter, General Manager, New Afton
“In 2022, Rainy River demonstrated resilience and the ability to recover from 
extreme rainfall that led to flooding in the open pit in Q2. Our focus for 2023 is 
executing our water management strategy, and delivering the plan in the open 
pit, underground and the mill. A commitment to safety and the courage to care 
are the foundation of all we do on site.”
Gord Simms, General Manager, Rainy River

New Gold Inc. 
Forging the Path Forward  
Overview Report | 2022
6
TABLE OF CONTENTS
Cautionary Note Regarding 
Forward-looking Statements	
2
Forging the Path Forward	
3
2022 ESG Performance 
Highlights	
4
Message from the President
and Chief Executive Officer	
5
About New Gold	
6
Our Approach to
Sustainability	
8
2022 Materiality Assessment	
12
Performance Highlights	
13
Awards, Memberships
and Initiatives	
14
Contact Us	
15
CORE VALUES
INTEGRITY:
Do what is right
CREATIVITY:
Lead with innovation
PEOPLE AND COMMUNITIES:
Committed to development
TEAMWORK:
Leverage our collective skills
COMMITMENT:
Deliver on promises
MISSION
To be the leading intermediate gold 
producer, driving responsible and 
profitable mining in a way that creates 
sustainable and enduring value for 
our shareholders, our stakeholders 
and our environment.
New Gold is a Canadian-
focused intermediate gold 
mining company committed to 
responsible mining. We have a 
portfolio of two core producing
assets in Canada – the Rainy River 
gold-silver mine and the New Afton 
copper-gold mine – and one
site in reclamation, the Cerro 
San Pedro mine in Mexico.
About New Gold
CANADIAN-FOCUSED
DIVERSIFIED
VALUES-DRIVEN
PREMIUM VALUATION
STRONG INDIGENOUS 
PARTNERSHIPS
We are not exclusively
Canadian, but Canadian first.
We operate multiple
mines using multiple mining 
methods, producing gold,
copper and silver.
We live our New Gold Values 
every day.
We design and execute against
a free cash flow objective.
We respect and acknowledge 
that, because of our partnerships 
with Indigenous nations, we 
operate on sacred lands.
ANALYSTS CORNER 
Disclosures and Indices Tags
GRI 2-1, 2-6, 2-23

New Gold Inc. 
Forging the Path Forward  
Overview Report | 2022
7
TABLE OF CONTENTS
Cautionary Note Regarding 
Forward-looking Statements	
2
Forging the Path Forward	
3
2022 ESG Performance 
Highlights	
4
Message from the President
and Chief Executive Officer	
5
About New Gold	
6
Our Approach to
Sustainability	
8
2022 Materiality Assessment	
12
Performance Highlights	
13
Awards, Memberships
and Initiatives	
14
Contact Us	
15
Rainy River Mine  
Location: Canada – 65km northwest of
Fort Frances, Ontario
Indigenous lands: Located on the traditional 
lands of Treaty 3 Anishinaabe Communities in 
Northwestern Ontario.
Commercial production: Began October 2017
Ore: Gold and silver
Status: Production
Mining type: Open pit and underground
Life of Mine: 2031 (projected)
Cerro San Pedro Mine
Location: Mexico – 20km northeast of 
San Luis Potosi
Commercial production: Concluded 
active mining in 2016
Status: Transitioned to reclamation in 
December 2018
Corporate Head Office
Location: Canada – Toronto, Ontario
Indigenous lands: Located on Treaty 13 
of the Mississaugas of the New Credit, 
the Anishnabeg, the Chippewa, the 
Haudenosaunee and the Wendat peoples,
and is now home to many diverse First Nations, 
Inuit and Métis peoples.
New Afton Mine  
Location: Canada – 10km west of Kamloops,
British Columbia
Indigenous lands: Located on Stk’emlúpsemc te 
Secwépemc territory, within the unceded traditional 
lands of the Secwépemc Nation
Commercial production: Began July 2012
Ore: Gold and copper
Status: Production
Mining type: Underground block caving
Life of Mine: 2030 (projected)Map of North American indicating the locations of the New Gold mine sites and Head Office
Our Locations
Read our Closure Report >
ANALYSTS CORNER 
Disclosures and Indices Tags
GRI 2-2

New Gold Inc. 
Forging the Path Forward  
Overview Report | 2022
8
TABLE OF CONTENTS
Cautionary Note Regarding 
Forward-looking Statements	
2
Forging the Path Forward	
3
2022 ESG Performance 
Highlights	
4
Message from the President
and Chief Executive Officer	
5
About New Gold	
6
Our Approach to
Sustainability	
8
2022 Materiality Assessment	
12
Performance Highlights	
13
Awards, Memberships
and Initiatives	
14
Contact Us	
15
Our responsibility to the communities in which we operate is fundamental to 
our work. We are driven by the aim of creating lasting value for our community 
partners, demonstrating care for the environment and building a better future 
for our employees, stakeholders and shareholders. 
While environment and community needs are intrinsic to our approach to 
sustainability, it also encompasses the health, safety, and well-being of our 
people and communities, diversity, equity and inclusivity in the workplace, and 
the continued success of our operations. This approach is not only beneficial 
to our bottom line, but also strengthens our resiliency going forward. 
Our Sustainability Strategy 
Rooted in New Gold’s Mission, Core Values and Strategic Sustainability 
Pillar, our Sustainability Strategy is guided by three Anchors: Environment, 
Indigenous Rights and Community Engagement. These Anchors represent our 
priorities and provide insights into our approach to sustainable business. 
In 2022, New Gold conducted a review of the goals outlined in our 
Sustainability Strategy to ensure they were aligned with operational 
requirements and to help achieve maximum impact for New Gold. As a result, 
we have updated our water objectives to be more in line with the watersheds 
in which we operate. This means that we are looking for ways to better 
manage and steward water usage at both New Afton and Rainy River while 
understanding that 100 percent reused or recycled water may not be possible.
Our Approach to Sustainability
2022 – 2023 GOALS
STATUS
ENVIRONMENT
Implement greenhouse gas (GHG) reduction 
strategies
IN PROGRESS1
Implement strong and transparent water 
management and stewardship program, 
allocating responsibilities at all levels of
the Company
IN PROGRESS2
Implement Operational Water Balance 
Models at both sites
IN PROGRESS
Update Environmental Management System 
at sites to align with ISO 14001
COMPLETED3
IN PROGRESS4
COMMUNITY ENGAGEMENT
Develop a Social Management System at 
each operation
IN PROGRESS
Develop social closure plans that identify 
value we want to create in 2030
IN PROGRESS5
INDIGENOUS RIGHTS
Raise recruitment and retention rates for 
Indigenous employees from 2020 baselines
COMPLETED
Raise Indigenous spending and business 
development from 2020 baseline
COMPLETED
Strategy Statements
Following the launch of our Sustainability Strategy in 2020, we began 
developing Strategy Statements around four Focus Area: climate 
change and action, water management, Indigenous rights, and tailings 
management. These Strategy Statements leverage the Embedding 
Project Guidebook to ensure they are meaningful, impactful and 
strategically relevant to New Gold. 
Read the statements in the 2022 Governance Report >
Strategic Pillars and Sustainability Strategy
MISSION
CORE
VALUES
OPERATIONAL
EXCELLENCE
PEOPLE
GROWTH
SUSTAINABILITY
STRATEGIC
PILLARS
SUSTAINABILITY STRATEGY
ANCHORS
Environment
Community Engagement
Indigenous Rights
Long-term goals, focus areas,
priorities and commitments
Our Sustainability Strategy outlines the goals to support our commitments through to 2030. 
Each year, we develop work plans to guide and support progress toward each goal, as well as 
update and set goals for coming years. We are pleased to share the status of our 2022 to 2023 
goals below.
Learn more about our Strategic Pillars >
Learn more about our Sustainability Strategy >
1	 Company-wide Climate Feasibility Project.
2	 Water management plans developed for both sites with improved governance measures through the development of multi-departmental Water Teams at both sites. Stewardship plans are in progress. 
Strategy Statements developed outlining commitments.
3	 Rainy River and New Afton Environmental Management Systems completed.
4	 Corporate office Environmental Management System is in progress.
5	 With continuous review and updating taking place as needed with relevant stakeholders.

New Gold Inc. 
Forging the Path Forward  
Overview Report | 2022
9
TABLE OF CONTENTS
Cautionary Note Regarding 
Forward-looking Statements	
2
Forging the Path Forward	
3
2022 ESG Performance 
Highlights	
4
Message from the President
and Chief Executive Officer	
5
About New Gold	
6
Our Approach to
Sustainability	
8
2022 Materiality Assessment	
12
Performance Highlights	
13
Awards, Memberships
and Initiatives	
14
Contact Us	
15
Board of Directors
Vice President, Sustainability
Corporate Sustainability Team
CEO/President
Chief Operating Officer
Technical and Sustainability 
Committee
General Managers
Department Managers
Environment Team
Indigenous Relations
and Community Team
Human Resources Team
Health and Safety Team
In 2021, New Gold’s Sustainability Strategy set targets across our three 
Anchors: Environment, Community Engagement and Indigenous Relations. 
In 2022, we conducted a follow-up review of these goals to ensure they were 
aligned with operational requirements in order to achieve maximum impact 
for New Gold. Below is a reproduction of our previously disclosed 2025 and 
2030 Goals, except as it relates to our 2030 water target. Following our 
2022 review and understanding that New Afton and Rainy River are not in 
water stressed areas, our 2030 water target was updated from striving for 
100 percent recycled water at all operating sites to focusing on strong water 
management solutions that can help us be strong partners and implement 
water stewardship in every watershed where we operate.
2025 AND 2030 GOALS
YEAR
GENERAL
Continually improve Environment, Social and Governance 
(ESG) ratings compared to our peer group and achieve full 
compliance with the Task Force on Climate-related Financial 
Disclosures (TCFD) recommendations
2025
Establish strategic partnerships to support greater research 
and development for strategic areas
2025
Be a recognized partner in external research and innovation 
findings
2030
ENVIRONMENT
Review energy-reduction strategies and look for greater 
opportunities to use green energy and electrification
2025
Focus on strong water management solutions and implement 
water stewardship in watersheds we operate
2030
Reduce GHG emissions by 30 percent from 2020 baseline 
numbers
2030
COMMUNITY ENGAGEMENT
Implement social closure activities that provide value to 
communities
2030
INDIGENOUS RIGHTS
Improve skill training for Indigenous employees to help 
provide for future employment and advancement
2030
Support the development of more Indigenous-owned 
businesses in local areas
2030
Sustainability Oversight Hierarchy
ANALYSTS CORNER 
Disclosures and Indices Tags
GRI 2-9, 2-12, 2-13, 2-14, 2-16
Sustainability Oversight 
Sustainability is embedded across New Gold. New Gold’s Sustainability Strategy is overseen by the Board of Directors and its committees, with the Technical and 
Sustainability Committee providing overall guidance to support the Board of Directors and providing direction to Senior Management. New Gold’s Sustainability Team 
oversees ESG reporting and performance. The following chart outlines the structure that provides for sustainability oversight across the Company. A more detailed 
breakdown of roles and responsibilities can be found in the Governance Report. 
Read the Governance Report  >

New Gold Inc. 
Forging the Path Forward  
Overview Report | 2022
10
TABLE OF CONTENTS
Cautionary Note Regarding 
Forward-looking Statements	
2
Forging the Path Forward	
3
2022 ESG Performance 
Highlights	
4
Message from the President
and Chief Executive Officer	
5
About New Gold	
6
Our Approach to
Sustainability	
8
2022 Materiality Assessment	
12
Performance Highlights	
13
Awards, Memberships
and Initiatives	
14
Contact Us	
15
Sustainability Reporting
Sustainability reporting is constantly evolving, and we work to ensure our 
annual reports are not only aligned with global reporting frameworks but 
with topics that matter to our stakeholders. As the world continues to face 
significant challenges, it is more important than ever to provide greater 
transparency. We also recognize that, while we are a Canadian-focused 
company, we work in a global context and accordingly we are committed
to reporting on ESG-related issues with a global perspective. In 2022,
New Gold reviewed its Sustainability Report and renamed it to the ESG 
Report to better align with our stakeholders and the reporting industry while 
recognizing Sustainability is what we work towards as a business and ESG is 
how we report it.
Overview of Standards and Disclosures
This ESG Report reports against the Global Reporting Initiative Standards 
(Core option), the G4 Mining and Metals Sector Disclosures, the Sustainability 
Accounting Standards Board Metals and Mining Standards (SASB), and the 
Mining Local Procurement Reporting Mechanism (LPRM). Consistent with 
prior years, our ESG Report represents a January to December calendar year. 
The boundary of all material topics is limited to the jurisdictions of New Gold’s 
mining operations, unless otherwise stated. 
Our approach to ESG reporting will continue to evolve as new and relevant 
standards, frameworks and expectations become applicable. In 2022, we 
progressed our alignment with the TCFD recommendations and published our 
first TCFD Report for the 2021 year. In 2022, we continue to align our reporting 
with the material topics identified.
Review 
This ESG Report is subject to internal review and not externally assured at 
this time. The ESG Report was reviewed by the Technical and Sustainability 
Committee of the Board. We recognize the importance of assuring our data 
and controls and, as we continue to improve our disclosures and data, we 
intend to undertake an internal audit of our 2022 ESG Report as another step 
toward external assurance. For questions regarding this ESG Report, contact 
us at sustainability@newgold.com.
ANALYSTS CORNER 
Disclosures and Indices Tags
GRI 2-3, 2-5, 2-14

New Gold Inc. 
Forging the Path Forward  
Overview Report | 2022
11
TABLE OF CONTENTS
Cautionary Note Regarding 
Forward-looking Statements	
2
Forging the Path Forward	
3
2022 ESG Performance 
Highlights	
4
Message from the President
and Chief Executive Officer	
5
About New Gold	
6
Our Approach to
Sustainability	
8
2022 Materiality Assessment	
12
Performance Highlights	
13
Awards, Memberships
and Initiatives	
14
Contact Us	
15
United Nations Sustainable Development Goals
New Gold has been a participant in the United Nations (UN) Global Compact 
for over a decade and remains dedicated to actively seeking new opportunities 
to better support the UN Sustainable Development Goals (SDGs). In 2022, 
we undertook an assessment of our sustainability and business strategies 
to identify areas of operation with the greatest impact and potential to drive 
meaningful change.
We have identified eight SDGs and 11 supporting targets that are most
relevant to New Gold’s business and intend to continue to create measurable 
impact and demonstrate progress toward each goal as we further refine
this process. The goals and targets in the accompanying table are mapped
to the ESG topics throughout this ESG Report and can be found in the
ESG Interactive Database.
SDG
TARGET
3
Ensure healthy lives and promote 
well-being for all at all ages
3.4
By 2030, reduce by one third premature mortality from non-
communicable diseases through prevention and treatment and 
promote mental health and well-being
3.9
By 2030, substantially reduce the number of deaths and illnesses 
from hazardous chemicals and air, water, and soil pollution and 
contamination
5
Achieve gender equality and 
empower all women and girls
5.1
End all forms of discrimination against all women and girls everywhere
5.5
Ensure women’s full and effective participation and equal 
opportunities for leadership at all levels of decision making in 
political, economic and public life
6
Ensure availability and sustainable 
management of water and sanitation 
for all
6.3
By 2030, improve water quality by reducing pollution, eliminating 
dumping and minimizing release of hazardous chemicals and 
materials, halving the proportion of untreated wastewater, and 
substantially increasing recycling and safe reuse globally
8
Promote sustained, inclusive and 
sustainable economic growth, full 
and productive employment and 
decent work for all
8.5
By 2030, achieve full and productive employment and decent work 
for all women and men, including for young people and persons with 
disabilities, and equal pay for work of equal value
11
Make cities and human settlements 
inclusive, safe, resilient and 
sustainable
11.4
Strengthen efforts to protect and safeguard the world’s cultural and 
natural heritage
12
Ensure sustainable consumption 
and production patterns
12.2
By 2030, achieve the sustainable management and efficient use of 
natural resources
13
Take urgent action to combat 
climate change and its impacts
13.1
Strengthen resilience and adaptive capacity to climate-related 
hazards and natural disasters in all countries
15
Protect, restore and promote 
sustainable use of terrestrial 
ecosystems, sustainably manage 
forests, combat desertification, and 
halt and reverse land degradation 
and halt biodiversity loss
15.1
By 2020, ensure the conservation, restoration and sustainable use 
of terrestrial and inland freshwater ecosystems and their services, 
in particular forests, wetlands, mountains and drylands, in line with 
obligations under international agreements
15.5
Take urgent and significant action to reduce the degradation of 
natural habitats, halt the loss of biodiversity and, by 2020, protect 
and prevent the extinction of threatened species
8 
8 
SDGs
identified that are 
most relevant to
New Gold’s business 
and that can create 
measurable impact

New Gold Inc. 
Forging the Path Forward  
Overview Report | 2022
12
TABLE OF CONTENTS
Cautionary Note Regarding 
Forward-looking Statements	
2
Forging the Path Forward	
3
2022 ESG Performance 
Highlights	
4
Message from the President
and Chief Executive Officer	
5
About New Gold	
6
Our Approach to
Sustainability	
8
2022 Materiality Assessment	 12
Performance Highlights	
13
Awards, Memberships
and Initiatives	
14
Contact Us	
15
Stakeholder engagement is central to identifying the material topics we focus 
on in our reporting. Through an extensive review process, we plan to identify 
a wide range of stakeholders who are or may be affected by our operations, 
placing a particular focus on vulnerable or underrepresented groups, and 
adapting our engagement approach to suit varying preferences. Examples of 
our engagement mechanisms with various stakeholder groups can be found in 
the accompanying table.
New Gold undertakes double materiality through community and internal 
stakeholder engagement. In 2022, we completed a refresh of our material topics 
for reporting. Through benchmarking against peers, reporting frameworks, 
and industry standards and initiatives, along with consideration for global and 
industry trends, we identified a list of ESG topics applicable to our business. 
This list was further refined through validation with internal stakeholders, senior 
leadership and Board members. The process revealed the 12 most important 
ESG topics from 2021 which were still relevant in 2022, with the addition of a 
topic related to governance. The identified material topics are listed below in 
order of materiality based on their respective sections of Environment (E),
Social (S) and Governance (G). These 13 material topics support our 
Sustainability Strategy and influence our reporting moving forward.
Our material topics are
•	 Climate change and action
•	 Biodiversity and nature
•	 Closure
•	 Tailings
•	 Water and water stewardship
•	 Community engagement
•	 Indigenous rights
•	 Diversity, equity and inclusion
•	 Human capital
•	 Occupational health and safety
•	 Employee well-being
•	 Environment and social compliance
•	 Leadership and accountability
IDENTIFIED STAKEHOLDERS
EXAMPLE ENGAGEMENT MECHANISMS
Employees
Surveys, bulletins, annual reporting, town halls, training and development programs, feedback 
mechanisms, performance reviews, committees, team communication channels (e.g., meetings, 
website, intranet), employee resource groups
Indigenous and non-Indigenous communities
Newsletters, open houses, boards (e.g., Environmental Monitoring Boards), grievance mechanisms, 
materiality assessments, Impact Benefit Agreements/Cooperation Agreements, Community Relations 
Teams, Joint Implementation Committees, Mine Management Board
Industry associations
Mining Association of Canada, Ontario Mining Association, Mining Association of British Columbia, 
First Nations Major Project Coalition, Canadian Mining Innovation Council, Canadian Dam Association, 
International Network for Acid Prevention, Canadian Industry Partnership for Energy Conservation
Shareholders and investors
Roundtable discussions, investor days, roadshows, one-on-one in-person or telephone meetings, 
virtual meetings, annual reporting, other forums
Contractors, suppliers, customers
Indigenous and community partnerships, meetings, feedback, evaluations, Supplier Code of Conduct, 
contracts and agreements, annual reporting
Governments
Engagement with national, provincial and local governments through regulatory process and ongoing 
communication and dialogue
Civil Society and NGOs
Collaboration, consultation and contributions with NGOs at each our sites as part of our engagement 
with communities. As part of the closure of Cerro San Pedro, New Gold created the nongovernmental 
organization, Todos por Cerro de San Pedro to contribute to sustainable development in the region
2022 Materiality Assessment
ANALYSTS CORNER 
Disclosures and Indices Tags
GRI 2-29

New Gold Inc. 
Forging the Path Forward  
Overview Report | 2022
13
TABLE OF CONTENTS
Cautionary Note Regarding 
Forward-looking Statements	
2
Forging the Path Forward	
3
2022 ESG Performance 
Highlights	
4
Message from the President
and Chief Executive Officer	
5
About New Gold	
6
Our Approach to
Sustainability	
8
2022 Materiality Assessment	
12
Performance Highlights	
13
Awards, Memberships
and Initiatives	
14
Contact Us	
15
While 2022 brought many challenges for our people, our operations and our partner communities, it also provided many encouraging 
examples of success along the way. Here are just a few business performance highlights, through a sustainability lens, of how we continued 
to forge the path forward in 2022.
January
March
April–May
July
August
October
1,000,000 oz poured at 
Rainy River.
Rainy River Life of Mine 
plan extended to 2031.
Water events and 
flooding at Rainy River 
inspired collaboration. 
New Gold embraced 
the opportunity to learn 
and re-evaluated and 
increased preparedness 
of our sites for future 
water events.
New Afton celebrated 
ten years of commercial 
production.
The Courage to Care 
Program was launched 
Company-wide to 
support New Gold’s 
focus on health and 
safety.
Rainy River Intrepid 
underground zone 
began production.
Rainy River celebrated 
five years of commercial 
production.
THE PATH IN 2022
Performance Highlights

New Gold Inc. 
Forging the Path Forward  
Overview Report | 2022
14
TABLE OF CONTENTS
Cautionary Note Regarding 
Forward-looking Statements	
2
Forging the Path Forward	
3
2022 ESG Performance 
Highlights	
4
Message from the President
and Chief Executive Officer	
5
About New Gold	
6
Our Approach to
Sustainability	
8
2022 Materiality Assessment	
12
Performance Highlights	
13
Awards, Memberships
and Initiatives	
14
Contact Us	
15
Awards
New Gold’s New Afton Mine was honoured to receive:
Memberships
•	 Mining Association of Canada (MAC)
•	 Ontario Mining Association (OMA)
•	 Mining Association of British Columbia (MABC)
•	 Prospectors and Developers Association of Canada (PDAC)
•	 International Women in Mining (IWiM)
•	 Women in Mining Canada
•	 Canadian Dam Association (CDA)
•	 International Network for Acid Prevention (INAP)
•	 Canadian Industry Partnership for Energy Conservation (CIPEC)
•	 Canadian Mining Innovation Council (CIMC) 
•	 First Nations Major Project Coalition Sustaining Partner
•	 Mining Safety Round Table 
•	 UN Global Compact (UNGC)
Initiatives
The TSM Excellence Awards are presented each year to companies, 
facilities and individuals to acknowledge innovative projects and 
initiatives that promote sustainable development within the mining 
sector. Our New Afton Mine is the proud recipient of the 2023 TSM 
Environmental Excellence Award for it’s Energy and GHG Management. 
By continually exceeding annual energy and GHG objectives, as driven 
by strategic energy and GHG management, New Afton exemplifies 
TSM guiding principles by working to minimize the impact of our 
operations on the environment and continuously improving through 
the application of new technology, innovation and best practices. 
Awards, Memberships and Initiatives
ANALYSTS CORNER 
Disclosures and Indices Tags
GRI 2-28
TSM Protocols Corporate Scorecard1
Indigenous and 
Community 
Relationships
TARGET
AAA
PERFORMANCE
AAA
Energy Use and 
GHG Emissions 
Management
TARGET
AAA
PERFORMANCE
AAA
Tailings Management
TARGET
AAA
PERFORMANCE
AAA
Water Stewardship
TARGET
AAA
PERFORMANCE
AA
ACHIEVED
ACHIEVED
ACHIEVED
Mining Association of Canada Towards Sustainable Mining (TSM)
Environmental Excellence Award
Energy and Greenhouse Gas (GHG) Management
1 Based on 2022 self-assessments.

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T: 416 324-6000  E: info@newgold.com
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