OceanaGold (OGC) investor relations material

Strategic and operational highlights

• Four operating mines in the USA, New Zealand, and the Philippines focus on maximizing free cash flow and shareholder returns.

• Achieved record profitability and free cash flow in 2025, with $543 million generated and a net cash position of $477 million.

• Doubled dividend and executed $175 million in buybacks in 2025; plans to triple dividend and increase buybacks to $350 million in 2026.

• 2026 guidance projects 12% higher production and 7% lower all-in sustaining costs, leveraging strong gold prices for further free cash flow growth.

• Listing on the New York Stock Exchange in April 2026 to boost liquidity and investor access.

Asset performance and growth projects

• Haile Gold Mine to deliver 45% of 2026 production, with output up 35% and costs down 25% year-on-year.

• Leadbetter phase at Haile to shift underground, improving ore grade and reducing material movement; Palomino and Leadbetter underground to enter production in 2028 and 2029.

• Waihi North Project in New Zealand fully permitted, with six drill rigs operating and significant exploration upside; drift towards Wharekirikauponga underground starts in Q2 2026.

• Macraes mine life extended by five years; increased drilling budget aims to further extend reserves into the 2040s.

• Didipio remains lowest-cost producer, with technical report update in H1 2026 and ongoing exploration for mine life extension.

Capital allocation and financial outlook

• 2026 marks peak capital expenditure at $280 million, with $150 million allocated to Waihi North Project.

• Exploration budget increased by 50% across all sites to support resource growth and reserve conversion.

• Strong focus on per-share metrics, cost management, and capital allocation driving 15% return on equity and 18% return on capital employed at $3,500 gold price.

• If gold prices remain high, further increases in dividends and buybacks are possible, balancing reinvestment and shareholder returns.

• Balance sheet remains robust, supporting growth, exploration, and enhanced shareholder distributions.