Financial Report

The following management discussion and analysis ("MD&A"), prepared as of June 5, 2025 should be read in conjunction with the Batero Gold Corp. (the "Company" or "Batero") interim unaudited condensed consolidated financial statements and the accompanying notes for the period ended May 31, 2025 and 2024. The Company has adopted International Financial Reporting Standards ("IFRS") and the following disclosure and associated financial statements are presented in accordance with IFRS. All comparative information provided is in accordance with IFRS. Except as otherwise disclosed, all dollar figures included therein and in the following MD&A are quoted in Canadian dollars. Additional information relevant to the Company's activities can be found on SEDAR+ at www.sedarplus.ca.