Slide 1: Fourth Quarter and Full Year 2024 Operating & Financial Results
Fourth Quarter and Full Year 2024 Operating & Financial Results February 20, 2025
Slide 2: Cautionary Statements
Cautionary Statements Cautionary Note Regarding Forward-Looking Statements This presentation contains certain “forward-looking statements” and “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities laws which may include, but i
Slide 3: 2024 Achievements
2024 Achievements Delivered in-line with our objective to increase and sustain a higher value for OceanaGold shares Production Winning Culture & Increased Reserves & Generated Strong A Premium Highlights Strong Teams Resources Returns Rating • Produced in line with • Strong improvement in • Net incr
Slide 4: Fourth Quarter Overview
• Fourth Quarter Overview Gold Production: 150,900 ounces ↑ 12% vs Q3 Copper Production: 3,100 tonnes ↓ 9% vs Q3 Cash Cost1: $875 per ounce ↓ $112 vs Q3 AISC1: $1,563 per ounce ↓ $166 vs Q3 New record Best quarterly quarterly production Record quarterly Record quarterly Progressed our safety product
Slide 5: Financial Highlights
Financial Highlights Adjusted EBITDA Adjusted Earnings Operating Cash Flow ($M)1 per Share ($/sh)1 per Share ($/sh)1 Free Cash Flow ($M)1 Record annual revenue of $1.3 billion Quarterly Metrics EBITDA1 margin of 58% in Q4 67% increase in EPS in Q4 64% increase in Operating Cash Flow per share in Q4
Slide 6: Transformation of Financial Position
Transformation of Financial Position Balance sheet is strong and enhances ability to invest in growth Capital allocation framework: Strong Net Cash position • invest in growth • reduce debt • pay dividends • buy back shares 2024 Achievements: 75% of capital invested in future growth Repaid $135 mill
Slide 7: Quarterly and Annual Record Production
Quarterly and Annual Record Production Overview Q4 FY 2024 2024 Guidance1 Safety (TRIFR) 2.9 • Met original and exceeded updated 2024 guidance Gold Production koz 75.2 212.6 203 - 210 with record fourth quarter gold production Cash Costs1 $/oz 598 955 900 - 1,000 AISC1 $/oz 1,287 1,628 1,530 - 1,630
Slide 8: Q4 Challenges Being Addressed
Q4 Challenges Being Addressed Overview Q4 FY 2024 2024 Guidance1 Safety (TRIFR) 0.25 Gold Production koz 19.7 97.0 104 - 108 • Breccia stope redesign and resequence provides maximum recovery of high-grade stopes over several years Copper Production kt 3.1 12.3 12 - 14 Cash Costs2 $/oz 1,033 851 750
Slide 9: Delivered Again in 2024
Delivered Again in 2024 Overview Q4 FY 2024 2024 Guidance1 Safety (TRIFR) 0.8 Gold Production koz 37.9 125.4 124 - 130 • 34% increase in production from the previous quarter, due to planned access to higher-grade ore Cash Costs2 $/oz 1,214 1,192 1,100 - 1,200 AISC2 $/oz 1,535 1,906 1,925 - 2,000 • I
Slide 10: Strong Fourth Quarter Result
Strong Fourth Quarter Result Overview Q4 FY 2024 2024 Guidance1 Safety (TRIFR) 1.5 Gold Production koz 18.1 53.8 48 - 52 • Best quarterly gold production from Martha Underground Cash Costs2 $/oz 1,130 1,427 1,500 - 1,600 • Improved extraction of higher-grade remnant stopes during AISC2 $/oz 1,557 2,
Slide 11: 2024 Reserve & Resource Summary
2024 Reserve & Resource Summary 27% increase in total Mineral Reserves and 8% increase in M&I Mineral Resources1 Reserve Changes (Moz) 2024 Achievements • Record annual Reserves of 6.2 Moz • Average Reserve grade increase of 15% • Average replacement cost of $49 per Reserve ounce over the last 9 yea
Slide 12: 2025 Exploration Priorities
2025 Exploration Priorities Wharekirauponga • Grow the EG Vein Zone Reserve and Resource • Apply for new drill pads to expand exploration footprint • Position ourselves to explore the T-stream and Western veins in 2026 Haile • Infill and expansion drilling at Horseshoe and Ledbetter phase 4 • Identi
Slide 13: Attractive Multi-Year Outlook
Attractive Multi-Year Outlook Contributors to growth outlook 20%1 Haile is the largest driver of growth • Access to Ledbetter Phase 3 open pit ore by Q4 2025 • Continued stable production from Horseshoe underground Macraes • Increased production from Innes Mills open pits • Mine plan optimization ba
Slide 14: Board & Management Changes
Board & Management Changes Stefanie Loader David Londono Bhuvanesh Malhotra Non-Executive Director COO, Americas CTPO (effective February 20, 2025) (until April 4, 2025) (Haile oversight, as of April 4, 2025)
Slide 15: 2025 Priorities
Safe and responsible mining Deliver on guidance Maximize Free Cash Flow1 & maintain a strong balance sheet 2025 Priorities Apply disciplined capital allocation framework Grow reserves and resources Advance organic growth projects 1. Non-IFRS financial measures. See “Non-IFRS Financial Information” i
Slide 16: OceanaGold Contact
y OCEANAGOLD 400 Burrard Street #1020 Vancouver, British Columbia Bion Marin ee SVP. Business Development & Investor Relations \ +1604 678 4123 ¢®) Rebecca Harris 4 ir@oceanagold.com ) Vice President, Investor Relations ® oceanagold.com