Slide 1: Fourth Quarter and Full Year 2025 Operating and Financial Results
Fourth Quarter and Full Year 2025 Operating and Financial Results February 19, 2026
Slide 2: Today's Speakers
Today's Speakers GERARD MARIUS VAN BHUVANESH KEENAN REBECCA BOND NIEKERK MALHOTRA JENNINGS HENARE President & Chief EVP, Chief EVP, Chief EVP, Chief VP, Investor Relations Executive Officer Financial Officer Operating Officer Exploration Officer
Slide 3: 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 and United States securities laws which
Slide 4: 2025 - A Year of Outstanding Delivery
2025 - A Year of Outstanding Delivery Achieved Guidance with Record Financial Performance and Significant Value Creation Safe Operational Record Financial Advanced Organic Strengthened Capital Returned to Delivery Performance Growth Balance Sheet Shareholders • Met production, • Permit approval for
Slide 5: Delivering Strong Returns on Capital
Delivering Strong Returns on Capital Generated a record $543M in Free Cash Flow1 in 2025 Return on Capital Employed2 Free Cash Flow Yield1,3 (on avg. market capitalization) 1. Non-IFRS financial measure. See “Non-IFRS Financial Information” in the Q4 2025 MD&A. 2. Source: Capital IQ. Last 12 months
Slide 6: 2026 Guidance
2026 Guidance Increasing gold production at decreasing AISC1 and investing for growth Gold production 235 - 260 koz AISC1 $1,500 - $1,700/oz 520 - 590 koz Gold production Gold production 135 - 155 koz 13 - 15 kt 45% 26% Copper production AISC1 $1,950 - $2,150/oz 2026 Gold Production2 $1,750 -$1,900
Slide 7: Shareholder Focused Capital Allocation
Shareholder Focused Capital Allocation 2026 Illustrative1 2025 Actual Sustaining $305M2 Sustaining $336M2 Growth $280M Buybacks & Buybacks & Growth Dividends Dividends $94M $203M +112% $432M Cash Build Dividends 3x Cash Build1 Exploration $285M Share buybacks 2x (Gold price dependent) $40M Explorati
Slide 8: Fourth Quarter - Strongest Quarter of the Year
Fourth Quarter - Strongest Quarter of the Year Gold Production 157,400 ounces 52% vs Q3 Copper Production 3,200 tonnes 3% vs Q3 Cash Costs1 $1,207 per ounce 15% vs Q3 AISC1 $1,761 per ounce 25% vs Q3 Record financial performance Haile Invested in Zero debt Bought back and $477M cash impairment rever
Slide 9: Record Quarterly Financial Performance
Record Quarterly Financial Performance Operating Cash Adj EBITDA Adjusted EPS Free Cash Flow Flow per share ($M)1 ($/sh)1 ($M)1 ($/sh)1 +49% +100% +12% +77% 1. Non-IFRS financial measures. See “Non-IFRS Financial Information” in the Q4 2025 MD&A.
Slide 10: Haile Strongest Quarter of the Year
Haile Strongest Quarter of the Year Overview Q4 FY 2025 2025 Guidance Safety (TRIFR)1 1.0 Production, cost and capital guidance achieved Gold Production koz 55.6 184.8 170 - 200 Access to open pit ore drove strongest production AISC2 $/oz 2,295 2,171 2,050 - 2,200 quarter of 2025 and drives 2026 gro
Slide 11: Macraes Production at Top End of Guidance
Macraes Production at Top End of Guidance Overview Q4 FY 2025 2025 Guidance Safety (TRIFR)1 1.5 Production, cost and capital guidance achieved Gold Production koz 55.8 147.0 135 - 150 Access to open pit ore drove the strongest production quarter of 2025 and de-risks 2026 AISC2 $/oz 1,286 1,861 1,800
Slide 12: Waihi Exceeded Expectations and WNP Permit Received
Waihi Exceeded Expectations and WNP Permit Received Overview Q4 FY 2025 2025 Guidance Safety (TRIFR)1 1.6 Exceeded production guidance due to success of Gold Production koz 22.2 75.1 55 - 70 underground improvement plan AISC2 $/oz 2,068 2,077 2,000 - 2,200 Cost and capital guidance achieved Waihi on
Slide 13: Didipio Achieved Full Year Production Guidance
Didipio Achieved Full Year Production Guidance Overview Q4 FY 2025 2025 Guidance Safety (TRIFR)1 0.1 Production guidance achieved Gold Production koz 23.8 90.7 85 - 105 Investments in mine resilience and underground Copper Production kt 3.2 13.3 13 - 15 pumping infrastructure improved performance AI
Slide 14: 2026 Exploration Priorities
2026 Exploration Priorities Record exploration spend planned for 2026 $60M Conversion of Resources to Reserves $40M Brownfield exploration to grow Resources Targeting new greenfield opportunities & earn-ins
Slide 15: Wharekirauponga 2026 Drilling
Wharekirauponga 2026 Drilling 1. Based on Mineral Resources and Mineral Reserves estimates for the year ended December 31, 2025. See news release dated February 18, 2026 for further details.
Slide 16: Investment Thesis
Focused on safe and responsible mining Committed to a safe workplace & high standards of environmental stewardship Commitment to delivery of Guidance Significant increase in gold production, decrease in AISC1 in 2026 Generate robust Free Cash Flow1 & maintain a strong balance sheet Investment High g
Slide 17: Investor Relations Contacts
BRIAN MARTIN SVP, Business Development & Investor Relations REBECCA HENARE Vice President, Investor Relations VALERIE BURNS Manager, Investor Relations 400 Burrard Street #1020 Vancouver, British Columbia V6C 3B7 Canada \ +1604 678 4123 [4 ir@oceanagold.com @® _ oceanagold.com