OceanaGold (OGC) Mining Forum Americas 2026 summary

Portfolio and production outlook

• Four producing assets across three countries; 2026 gold production guidance of 520,000–590,000 oz, with the midpoint 12% above 2025 actual production.

• Year-end reserves were close to 6 Moz and resources nearly 9 Moz; exploration and the planned Ausgold acquisition are expected to add to both.

• Following the expected December 2026 Ausgold addition, the portfolio will include five assets, including Katanning in Western Australia.

• Production growth of 30% to 650,000 oz is projected from Macraes Phase 4 and Katanning; the illustrative profile excludes potential Waihi mill expansion benefits.

• The projected 30% production growth is expected to be fully self-funded from operating cash flow or cash on hand.

Returns and capital allocation

• Generated $739M of free cash flow in the 12 months to June 30, with ~12% free cash flow yield and 29% return on capital employed; no gold hedges, prepays or royalty financings.

• Returned over $200M to shareholders in 2025; by mid-2026, returned $174M, ~26% of operating cash flow, through buybacks and dividends.

• Cash rose 37% from December to $655M at mid-year, while capital allocation continued to fund sustaining needs, growth, shareholder returns and balance-sheet strength.

• Growth spending in 2025–2026 is focused mainly on Waihi North, with additional 2026 investment in Haile’s Palomino Underground; exploration spending is increasing after a record prior-year program.

Waihi North and exploration

• Waihi North centers on the Wharekirauponga deposit, 10 km north of Waihi; the December 2024 reserve was 1.2 Moz at 9.2 g/t.

• Fully permitted in December 2025; decline development began in May 2026 and had advanced over 350 m, with first ore still targeted for 2032.

• Twin-decline development is expected to begin in H1 2027; construction and underground work were progressing to plan.

• A Waihi mill expansion is under evaluation; an updated technical report covering mill sizing and recent exploration is planned for January 2027.

• WKP drilling returned 6.3 m at 97 g/t in the EG vein; mineralization remains open north and south, and further drilling is planned.