Slide 1: First Quarter 2025 Operating & Financial Results
First Quarter 2025 Operating & Financial Results May 8, 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: First Quarter Overview
• First Quarter Overview Gold Production: 117,400 ounces Copper Production: 3,400 tonnes Cash Costs1: $976 per ounce AISC1: $1,796 per ounce Strong production and cost performance Free Cash Flow1 of $69M Fast-track application Share repurchase of $20M New Pisces discovery at submitted for the Signif
Slide 4: Well Positioned to Deliver 2025 Guidance
Well Positioned to Deliver 2025 Guidance Q1 Gold Production Q1 Copper Production Q1 Total Capital Investment2 117 koz 3.4 kt $98M 19%1 24%1 24%1 Guidance: Guidance: Guidance: 450 - 520 koz 13 - 15 kt $485 - $530M AISC3 Q1 Guidance: $1,796/oz $1,900/oz - $2,050/oz 1. Percentages based on mid-point of
Slide 5: Strong Operating Performance Supported by Record High Gold Prices
Strong Operating Performance Supported by Record High Gold Prices Operating Cash Flow EBITDA ($M)1 EPS ($/sh) per Share ($/sh)1 Free Cash Flow ($M)1 Record average realized gold price of $2,858 per ounce Net profit of $101M Continued strong EBITDA1 margin of 53% Strong Free Cash Flow1 of $69M Debt-f
Slide 6: Increasing Cash, Returning Capital and Full Gold Price Leverage
Increasing Cash, Returning Capital and Full Gold Price Leverage Adding Cash to the Balance Sheet Robust financial position Increasing shareholder returns No gold hedges or prepays Returning Capital to Shareholders 272 Rising gold price provides significant $100M of buybacks upside to cash generation
Slide 7: Delivering to Plan
Delivering to Plan Overview Q1 2025 Guidance Safety (TRIFR)1 1.9 • Strong production quarter driven by high-grade ore from Gold Production koz 51.6 170 - 200 Ledbetter Phase 2 Cash Costs2 $/oz 715 950 - 1,050 AISC2 $/oz 1,551 2,050 - 2,200 • Ledbetter Phase 3 waste stripping on track to begin Total
Slide 8: Improved Safety and Production Performance
Improved Safety and Production Performance Overview Q1 2025 Guidance Safety (TRIFR)1 0.2 Gold Production koz 20.6 85 - 105 • No recordable injuries since Q4 2024 Copper Production kt 3.4 13 - 15 • Production in line with annual guidance Cash Costs2 $/oz 871 800 - 900 AISC2 $/oz 1,130 1,150 - 1,250 •
Slide 9: Waste Stripping on Schedule in Innes Mills
Waste Stripping on Schedule in Innes Mills Overview Q1 2025 Guidance Safety (TRIFR)1 1.2 • Q1 production impacted by timing of planned shutdown of Gold Production koz 28.4 135 - 150 processing plant and autoclave Cash Costs2 $/oz 1,369 1,025 - 1,175 AISC2 $/oz 2,313 1,800 - 1,950 • Open pit grades l
Slide 10: Strong Execution of Improvement Plan
Strong Execution of Improvement Plan Overview Q1 2025 Guidance Safety (TRIFR)1 1.4 • Delivered strong production and costs in line plan Gold Production koz 16.8 55 - 70 Cash Costs2 $/oz 1,445 1,600 - 1,800 • Demonstrated progress on underground improvement plan AISC2 $/oz 2,019 2,000 - 2,200 initiat
Slide 11: Delivering On Our Commitments
Focused on safe and responsible mining Committed to a safe workplace Deliver on guidance Well-positioned to deliver on 2025 guidance Generating Free Cash Flow1 & maintaining a strong balance sheet Rising gold price provides significant upside to cash generation potential Delivering On Our Commitment
Slide 12: OceanaGold
y OCEANAGOLD Brian Martin SVP. Business Development & Investor Relations Haley Mayers VP. Investor Relations Valerie Bums Manager, Investor Relations 400 Burrard Street #1020 Vancouver, British Columbia V6C 3B7 Canada \ +1604 678 4123 4 ir@oceanagold.com ® oceanagold.com