Slide 1: Full Year 2021 Financial and Operating Results
FULL YEAR 2021 AND FINANCIAL OPERATING RESULTS Australia: February 24, 2022 North America: February 23, 2022 CONSISTENTLY DELIVERING ON COMMITMENTS INNOVATION I PERFORMANCE I GROWTH
Slide 2: Cautionary Statements
CAUTIONARY STATEMENTS Cautionary Notes - 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, sec
Slide 3: Full Year 2021 Highlights
FULL YEAR 2021 HIGHLIGHTS Delivering on our commitments remains a key focus Free Cash Flow Profitability Generation Adjusted earnings higher year- Returned to positive net cash on-year backed by strong flow generation with $20 million operational performance from in Q4 2021 Haile and return of Didip
Slide 4: Solid Financial Results Driven by Haile and Didipio
SOLID FINANCIAL RESULTS DRIVEN BY HAILE AND DIDIPIO 2021 actuals versus guidance 2021 ACTUAL HAILE DIDIPIO WAIHI MACRAES CONSOLIDATED GOLD PRODUCTION: koz 190.0 14.9 27.7 130.3 362.8 COPPER PRODUCTION: kt - 2.3 - - 2.3 ALL IN-SUSTAINING COSTS: $/oz 1,060 (25) 1,701 1,468 1,247 CASH COSTS: $/oz 649 (
Slide 5: Financial Performance Continues to Strengthen
FINANCIAL PERFORMANCE CONTINUES TO STRENGTHEN Financial results overview Q4 2021 Q3 2021 2021 2020 +49% Revenue US $M 208.5 204.6 744.7 500.1 EBITDA US $M 88.7 89.2 329.8 129.6 744.7 +154% NPAT US $M (96.0) 44.9 (3.7) (150.4) 500.1 Adjusted Net Profit / Loss US $M 29.3 53.0 141.0 1 (74.3) 329.8 +290
Slide 6: 2021 Investments
2021 INVESTMENTS Advance organic growth projects FULL YEAR CONSOLIDATED Q4 2021 Q3 2021 2021 2020 General Operating US $M 11.0 6.5 32.5 28.0 Pre-strip & Capitalised Mining US $M 30.4 39.1 116.4 65.8 Growth Capital US $M 30.3 39.9 160.5 150.4 Exploration US $M 6.6 5.8 24.6 22.7 TOTAL US $M 78.3 91.2
Slide 7: Enhancing Capital Allocation to Drive Growth
ENHANCING CAPITAL ALLOCATION TO DRIVE GROWTH ORGANIC GROWTH IN TOP- PRUDENT BALANCE SHEET TOTAL LIQUIDITY1 TIER JURISDICTIONS MANAGEMENT PRESERVES UNDRAWN CASH FACILITY FINANCIAL FLEXIBILITY $133m $30m TOTAL DEBT1 EQUIPMENT DRAWN FACILITY LEASES $250m $113m 1. As at December 31, 2021 7
Slide 8: Outlook
OUTLOOK 2022 Guidance and Multi-Year Outlook Didipio Mine
Slide 9: 2022 Guidance Sees Increased Production
2022 GUIDANCE SEES INCREASED PRODUCTION And positive free cash flow generation Gold production 30% YoY Cash costs 2% YoY AISC 6% YoY Midpoint 2022 vs Actual 2021 Midpoint 2022 vs Actual 2021 Midpoint 2022 vs Actual 2021 2022 PRODUCTION & COST GUIDANCE HAILE DIDIPIO WAIHI MACRAES CONSOLIDATED GOLD PR
Slide 10: Multi-Year Outlook
MULTI-YEAR OUTLOOK Increasing production, increasing profit margins THREE-YEAR PRODUCTION PROFILE 580 – 620 2022 ANTICIPATED NET CASH FLOW1 490 – 530 445 – 495 GOLD PRICE ASSUMPTION NCF 362.8 (US $/oz ) (US $M) 12 – 14 12 – 14 11 – 13 1,700 20 – 30 2.3 1,800 70 – 80 2021 2022 2023 2024 1,900 115 – 1
Slide 11: Didipio 2022 Overview
DIDIPIO 2022 OVERVIEW Ramp-up progressing ahead of schedule • Full mining and processing rates now expected in Q2 2022 • 2022 guidance reflects near full year of production • Exploration to recommence and test extensional targets • Strong engagement with local stakeholders 2022 PRODUCTION GUIDANCE G
Slide 12: Macraes 2022 Overview
MACRAES 2022 OVERVIEW Operational performance expected to rebound • Golden Point Underground ramp up ongoing • Transitioning from Frasers to Golden Point Underground as main source of underground ore • Early 2023 GPUG anticipates producing ~80,000 t of ore per month • Continuing to source additional
Slide 13: Waihi 2022 Overview
WAIHI 2022 OVERVIEW Increasing exploration investment at high-grade Wharekirauponga deposit • Martha Underground resource definition and grade control drilling ongoing • Full mining rates from Martha Underground expected in 2023 • Waihi North Project expects to submit formal consent application in H
Slide 14: Haile 2022 Overview
HAILE 2022 OVERVIEW Expected to produce 2.1 million of ounces of gold over life of mine1 • Achieved record gold production in 2021 • Technical review completed to maximise long term value of the mine • SEIS Record of Decision and related permits expected in H1 2022 – does not impact 2022 guidance •
Slide 15: SEIS Update
SEIS UPDATE Supplementary Environmental Impact Statement (SEIS) Facilitates: • Development of underground mine • Larger mine footprint for additional Potential Acid Generating (PAG), overburden and TSF storage • Expanded water treatment plant discharge Final 30-Day SEIS Draft Public State Record SEI
Slide 16: Haile Technical Review
HAILE TECHNICAL REVIEW Updated mine plan and costs Haile Gold Mine
Slide 17: Gold Production and Unit Costs
GOLD PRODUCTION AND UNIT COSTS Over current life of mine 300 2,500 Underground exploration focused on expanding resources 250 2,000 200 US$/oz sold 1,500 koz 150 1,000 100 500 50 0 0 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Historical Gold Production and A
Slide 18: Mining Physicals
MINING PHYSICALS Over current life of mine 45,000 5 4.5 40,000 4 35,000 3.5 30,000 3 g/t gold kt 25,000 2.5 2 20,000 1.5 15,000 1 10,000 0.5 5,000 0 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 Historical Mining Physicals Waste Tonnes OP Ore Tonnes UG Ore Tonnes OP
Slide 19: Processing Physicals
PROCESSING PHYSICALS Over current life of mine 4,000 3 2.5 3,000 2 g/t gold kt 2,000 1.5 1 1,000 0.5 0 0 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Historical Processing Physicals OP Tonnes Milled UG Tonnes Milled Ore Grade Milled 19 Haile Underground Mine d
Slide 20: Haile Mining Costs per Tonne
HAILE MINING COSTS PER TONNE Over current life of mine OP Mining Cost (US$/tonne mined) UG Mining Cost (US$/tonne mined) 4 70 3.5 60 3 50 2.5 40 2 30 1.5 1 20 0.5 10 0 0 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2023 2024 2025 2026 2027 2028 Historical Costs Pro
Slide 21: Haile Capital Spend
HAILE CAPITAL SPEND Over current life of mine 250 200 $US 000’s 150 100 50 0 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 Capitalised Pre-Strip Sustaining CAPEX Rehabilitation Non-Sustaining CAPEX Capital Lease Principal Payments 21 Haile Underground Mine development de
Slide 22: Selective Mining Methods
SELECTIVE MINING METHODS Opportunity • Better ore predictability of geometrically complex ore body • Minimise ore dilution • Increase quality of ore delivered to the process plant Solution • Implementation of RC grade control drilling • 25,000m to 50,000m of drilling planned going forward • Compleme
Slide 23: Blast Fragmentation
BLAST FRAGMENTATION Opportunity • Increase loading and hauling productivity through better excavation and more optimal pit floors • Increase mill throughput • Optimize productivity Solution • Improved powder factor by optimizing drill spacing and stemming • Staggered drilling • Improved timings Stat
Slide 24: PAG Optimisation
PAG OPTIMISATION Opportunity • Minimize amount of PAG material which requires storage in specific lined waste storage units Solution • Change to mine approach (e.g. selective mining, improved sampling) • Permit modification based on several years of scientific data and analysis Status • Selective mi
Slide 25: Process Plant Optimisation
PROCESS PLANT OPTIMISATION Opportunity • Increase plant throughput • Increase gold recoveries Solution • Blast fragmentation – previously covered • Debottlenecking • Optimising flow sheet with no additional major capital to drive higher recoveries Status • Blast fragmentation yielding positive resul
Slide 26: Haile Underground Exploration Potential
HAILE UNDERGROUND EXPLORATION POTENTIAL Future of mine is underground - undrilled targets exist 26
Slide 27: Focused on Delivering Long Term Value
FOCUSED ON DELIVERING LONG TERM VALUE By Optimising Operations Increasing free cash flows and returns Investing Capital in Value Accretive Projects Maximising Potential at Haile Ramping Up Mining at Three Underground Operations Advancing Wharekirauponga (WKP) High-Grade Deposit Macraes Operation 27
Slide 28: Corporate Headquarters
Corporate Headquarters Level 3, 99 Melbourne St. South Brisbane Qld, 4101 Australia T: +61 3 9656 5300 F: +61 3 9656 5333 ir@oceanagold.com oceanagold.com