Oceanagold Corporation · TSX:OGC

Oceanagold — Q3 2011 Earnings Presentation

24 slides from Oceanagold's earnings presentation, Oct 28, 2011

1. Slide 1: 2011 Third Quarter Results Conference Call Presentation

   2011 Third Quarter Results Conference Call Presentation October 28, 2011

2. Slide 2: Cautionary Note

   Cautionary Note Cautionary Notes a) Information Purposes Only The information contained in this presentation is provided by OceanaGold Corporation (“OGC”) for informational purposes only and does not constitute an offer to issue or arrange to issue, or the solicitation of an offer to issue, securiti

3. Slide 3: Q3 2011 Operational Summary

   Q3 2011 Operational Summary US$/oz  Revenue $103.5m @ average gold Cash operating margin $/oz 1,800 Cash operating cost $/oz 1,600 1,400 Gold price rec'd (ave) $ price of $1,706 per ounce achieved  60,646 oz gold sold at cash operating 1,200 1,000 800 cost $956 per ounce 600 400  EBITDA $43.3m up

4. Slide 4: Pro forma net cash flow per ounce sold

   Pro forma net cash flow per ounce sold Per ounce Au sold Q3 2011 Q2 2011 Q1 2011 YTD 2011 Average Gold Price Rec’d $1,706 $1,546 $1,401 $1,548 Cash Cost reported $956 $921 $687 $851 Pre strip cash expenditure $147 $165 $256 $189 capitalised to Balance Sheet Total Cost/oz (incl pre-strip ) $1,103 $1,

5. Slide 5: A closer look at cash costs Q3 vs Q2

   A closer look at cash costs Q3 vs Q2 Cash Cost (US$/oz) Analysis 1050 1000 (14) 11 25 13 950 900 850 800 750 921 956 700 650 600  Reported cash cost increased by $35/oz to $956/oz for Q3  Lower levels of pre strip capitalised to Balance Sheet (ie higher allocation of cash spend recognised in opera

6. Slide 6: Costs in NZD

   Costs in NZD Q3 2011 Q2 2011 Q1 2011 9M 2011 NZD per tonne $37 $36 $31 $35 milled  Mining cost in local currency (NZD) slightly up on Q2  Decrease in capitalised pre-strip  Lower mill feed in part due to adverse weather impact  Ramp up of mining rates expected to lead improve efficiencies 6

7. Slide 7: Operations: Macraes Open Pit & Frasers Underground

   Operations: Macraes Open Pit & Frasers Underground Macraes Goldfield Q3 2011 Q2 2011 Q3 2010 9M 2011 9M 2010 Gold Produced (oz) 42,136 44,107 49,732 130,400 135,401 Mill Feed (Mt) 1.431 1.458 1.477 4.346 4.103 Mill Feed grade (g/t) 1.10 1.12 1.27 1.12 1.24 Recovery (%) 83.1% 84.2% 82.3% 83.6% 82.5%

8. Slide 8: Operations: Reefton

   Operations: Reefton Reefton Goldfield Q3 2011 Q2 2011 Q3 2010 9M 2011 9M 2010 Gold Produced (oz) 16,954 17,881 19,031 56,349 66,194 Mill Feed (t) 457,740 462,426 467,679 1,339,698 1,214,463 Mill Feed grade (g/t) 1.54 1.42 1.51 1.59 2.02 Recovery (%) 80.7% 81.1% 82.7% 81.4% 83.7%  Nil Lost Time Inju

9. Slide 9: Development: Didipio Project

   Development: Didipio Project On track to commission Q4 2012  Typhoon Pedring - Regrettable fatality of security contractor  Ongoing support and counselling to family and staff  Safety of employees and contractors remains top priority  Construction activities in Q3  Process plant site earthworks

10. Slide 10: Didipio: Construction Progress

    Didipio: Construction Progress July: Road upgrade progressing well August: Roadside gabion work September: Construction office fit out August: Ball mill shells transferred from July: Process site preparation Singapore to Manila September: Earth moving equipment on site 10

11. Slide 11: Didipio: Community Relations

    Didipio: Community Relations Community initiatives in Q3 2011 included:  Assistance and food relief provided to community impacted by typhoons  Ongoing education and agricultural initiatives  Six medical missions sponsored for various communities in region 11

12. Slide 12: Big River (Reefton) Discovery

    Big River (Reefton) Discovery  Drilling targeting high grade mineralisation adjacent to historic mine  Several high grade intersections some with visible gold  Close to existing plant and infrastructure at Reefton  10,000m drilling program continued in Q3  Assay results received for six holes 

13. Slide 13: Exploration: New Zealand (cont.)

    Exploration: New Zealand (cont.) Reefton Crushington (4km north Reefton plant) Blackwater (15km southwest Reefton plant)  Diamond drilling continued in Q3  Deep drilling program to start in November  Targeting Au-As-Sb anomalies  Testing high grade reef structure  Drilling adjacent to historic

14. Slide 14: Exploration: Philippines

    Exploration: Philippines Didipio Mogambos  Grid soil sampling  Significant gold anomalies identified  4km north of Didipio mine  Preliminary scout drilling program Q4 MMB and Tadjie  Previously not investigated in detail  Geochemical soil sampling  Mapping identified altered volcanics  Progr

15. Slide 15: Financial Summary

    Financial Summary — » /

16. Slide 16: Q3 2011 Results

    Q3 2011 Results  Revenue up 9.1% to $103.5m vs. $94.8m in Q2 2011 due to higher gold prices  Q3 gold sales of 60,646 ounces, down 1.1% on Q2 (61,335 oz)  EBITDA1 was $43.3m for Q3 2011 vs. $33.0m in Q2 2011  Cash costs were $956/oz compared to $921/oz in Q2 2011. Slight increase:  less capitali

17. Slide 17: Group Results Q3 2011

    Group Results Q3 2011 Q3 2011 Q2 2011 Q3 2010 $m $m $m Revenue 103.5 94.8 83.3 Operating Costs (inc Forex) (60.2) (61.8) (40.7) EBITDA 43.3 33.0 42.6 Dep’n & Amortisation (24.4) (21.0) (17.8) Net Interest (3.3) (3.3) (3.8) Sub Total 15.5 8.7 20.9 Income Tax (4.6) (4.6) (7.3) Net Earnings 10.9 4.1 13

18. Slide 18: Year to Date 2011 Results

    Year to Date 2011 Results  Revenue increased 36% to $289.0m vs. YTD Sept 2010  Higher gold prices  All sales at spot compared to Q1 2010 delivery into hedges  YTD gold sales of 186,746 ounces (2010: 200,060 ounces)  EBITDA1 of $120.3m up 33% from $90.3m – supported strongly by higher revenue 

19. Slide 19: Group Results Year to Date 2011

    Group Results Year to Date 2011 YTD 2011 YTD 2010 $m $m Revenue 289.0 211.9 Operating Costs (inc Forex) (168.7) (121.6) EBITDA 120.3 90.3 Dep’n & Amortisation (64.3) (53.9) Net Interest (9.4) (11.3) Sub Total 46.6 25.0 Fair Value of Hedges - 16.2 Income Tax (16.7) (17.7) Net Earnings 29.8 23.5 Note:

20. Slide 20: Cash Flows 30 September 2011

    Cash Flows 30 September 2011 Q3 2011 YTD 2011 $m $m Opening cash balance 193.2 181.3 Operating cash inflows 22.2 98.5 Capital expenditure (37.5) (98.9) Financing cash outflows (2.7) (11.5) Forex effect (11.8) (6.0) Net cash (decrease)/increase (29.8) (17.9) Closing cash balance 163.4 163.4 Didipio c

21. Slide 21: Outlook: New Zealand

    Outlook: New Zealand  Focused on improved mining rates at Reefton  Mill throughputs and recoveries expected to remain strong  Some easing of cost pressure from weakening NZD in early Q4  Exploration programs at Reefton continue to expand in Q4  Surface drilling to continue Macraes 21

22. Slide 22: Outlook: Didipio Project

    Outlook: Didipio Project  Plant site earthworks scheduled to complete Q4  First concrete foundation pour due in coming weeks  Mining contractor expected to mobilise to site Q4  Open pit mining, haul road, waste rock stack, TSF to commence in Q1  Ongoing community relation initiatives 22

23. Slide 23: Outlook: Production Guidance

    Outlook: Production Guidance  FY 2011 production and cash cost guidance remains unchanged  FY 2011 Production guidance 255,000 to 270,000 ounces Au  Current forecast at lower end of guidance  FY 2011 cash costs of US$850 to $890 per ounce 23

24. Slide 24: OceanaGold

    OCEANAGOLD INNOVATION, PERFORMANCE & GROWTH

OceanaGold — Q3 2011 Earnings Presentation on 6ix