Slide 1: Corporate Presentation August 2018
CORPORATE PRESENTATION August 2018 CONSISTENTLY DELIVERING ON COMMITMENTS INNOVATION I PERFORMANCE I GROWTH
Slide 2: Cautionary and Technical Statements
2 Cautionary and Technical 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 off
Slide 3: Portfolio of High Quality Assets
3 Portfolio of High Quality Assets GOLD RESOURCES(1) Measured & (Moz) Reserves Indicated Inferred(3) Resources(2) HAILE 3.18 3.32 0.6 DIDIPIO 1.26 1.39 0.3 WAIHI 0.25 0.48 0.3 STRATEGIC HAILE INVESTMENTS LOM: 2033+ MACRAES 1.20 3.60 0.8 DIDIPIO GSV – 16% LOM: 2032+ NUG – 16% CONSOLIDATED 5.88 8.79 2
Slide 4: Increased 2018 Guidance
4 Increased 2018 Guidance Gold Production Copper Production All-In Sustaining Costs 500,000 – 540,000 15,000 – 16,000 US$725 – US$775 ounces tonnes per ounce (was 480,000 – 530,000 oz) HAILE DIDIPIO WAIHI MACRAES Production (ounces) 140,000 – 155,000 95,000 – 105,000 75,000 – 85,000 190,000 – 200,00
Slide 5: Results Overview
5 Results Overview Q2 2018 OPERATING RESULTS Quarter-on-Quarter Gold Production Q2 2018 H1 2018 GOLD PRODUCTION 142,950 268,597 oz 14% GOLD SALES 138,948 266,421 oz COPPER PRODUCTION 3,919 7,808 tonnes COPPER SALES 3,979 7,172 tonnes H1/18 vs. H1/17 Revenue AISC $696 $744 per oz sold Q2 2018 FINANCI
Slide 6: Robust Balance Sheet
6 Robust Balance Sheet (1) Quarter-on-Quarter Year-on-Year Cash Balance Net Debt Cash Balance $129m 45% 58% Total Liquidity $149m Credit Facility (Undrawn) $20m ROBUST BALANCE SHEET ▪ Increase in cash balance and overall liquidity ▪ Net debt of $104m Credit Facility (Drawn) ▪ Amended Revolving Credi
Slide 7: Solid Margins & Returns
7 Solid Margins & Returns 33 CONSECUTIVE QUARTERS OF DELVERING A POSITIVE ROIC ONE OF A FEW GOLD COMPANIES TO ACHIEVE THIS RESULT EBITDA MARGIN* RETURN ON INVESTED CAPITAL* OceanaGold Peer Average OceanaGold Peer Average 60% 20% 50% 15% 40% 30% 10% 20% 5% 10% 0% 0% -10% 2011 2012 2013 2014 2015 2016
Slide 8: Consistent Profitability
8 Consistent Profitability Net Income – GAAP (5-Yr Total) Adjustments (5-Yr Total) Net Income - Adjusted (5-Yr Total) ($USM) ($USM) ($USM) Randgold $1,228 $0 $1,228 Centerra $516 $184 $700 OceanaGold $425 $186 $611 Northern Star $403 $44 $447 Regis Resources $273 $188 $462 Tahoe $153 $199 $352 Sarac
Slide 9: Australian Gold Dominance
9 Australian Gold Dominance AUSTRALIAN GOLD MINERS HAVE SIGNIFICANTLY OUTPERFORMED NORTH AMERICAN PEERS MARKET PERFORMANCE 150 OceanaGold TSX Global Gold ASX Gold Index Spot Gold 140 ASX GOLD + 26.1% 130 SPOT GOLD 120 + 5.4% 110 OGC + 2.6% 100 TSX GOLD 90 - 7.0% 80 70 Note: Updated 30th July 2018
Slide 10: Relative Valuation
10 Relative Valuation(1) PRICE TO NAV EV TO EBITDA PRICE TO CFPS Intermediate producer average Intermediate producer average Intermediate producer average 2 9 14 8 12 7 1.5 10 6 5 8 1 4 6 3 4 0.5 2 2 1 0 0 0 Source: (1) Canaccord
Slide 11: Free Cash Flow Comparative
11 Free Cash Flow Comparative SIGNIFICANT FREE CASH FLOW GENERATION CONTINUES AT OCEANAGOLD FREE CASH FLOW YIELD(1) FREE CASH FLOW YIELD COMPARATIVE (2) (2018E) 2018E 2019E 10% 14% 9% 12% 8% 7% 10% 6% 8% 5% 6% 4% 3% 4% 2% 2% 1% 0% 0% OGC Mid-Tier Avg Senior Avg OceanaGold Northern Star Regis Evoluti
Slide 12: Strategy
12 Strategy DRIVE EFFICIENCY THROUGH BOOST PERFORMANCE via NEW TECHNICAL EXCELLENCE & TECHNOLOGIES (e.g. Analytics, LEADERSHIP Automation) OCEANAGOLD VALUE CREATION REDUCE BUSINESS RISK THROUGH ADVANCE ORGANIC GROWTH GEOGRAPHIC & ASSET OPPORTUNITIES DIVERSIFICATION EFFECTIVE MANAGEMENT & HIGH QUALIT
Slide 13: Production Growth
13 Production Growth CONSISTENTLY DELIVERED HIGH-MARGIN PRODUCTION GROWTH GOLD PRODUCTION GROWTH 700,000 147% 600,000 HAILE 500,000 79% Gold Production (oz) 400,000 WAIHI 40% 300,000 DIDIPIO 200,000 REEFTON (1) 100,000 MACRAES 0 2011 2012 2013 2014 2015 2016 2017 1. Reefton entered Closure in Decemb
Slide 14: EBITDA Growth
14 EBITDA Growth DELIVERED SIGNIFICANT EBITDA GROWTH DESPITE GOLD PRICE WEAKNESS EBITDA GROWTH $450 EBITDA Gold Price $1,800 $400 $1,700 Gold Price Received ($/oz) $350 $1,600 $300 EBITDA (USDm) $1,500 $250 $1,400 $200 $1,300 $150 $1,200 $100 $50 $1,100 $0 $1,000 2011 2012 2013 2014 2015 2016 2017 E
Slide 15: A Focus on Organic Growth
15 A Focus on Organic Growth M&A AND EXPLORATION ACTIVITIES STRENGTHEN RESOURCE BASE Proven and Probable Reserves Growth Profile 2011 TO 2018E EXPLORATION EXPENDITURE 35 P&P Reserves Depletion Exploration Expenditure 7.0 INCREASED 270% (1) Exploration Expenditure (US$m) 30 6.0 25 5.0 Reserves (Moz)
Slide 16: Advancing Organic Growth
16 Advancing Organic Growth SOLID PIPELINE OF ORGANIC VALUE CREATING OPPORTUNITIES WAIHI (LOM: 2019+) HAILE (LOM: 2033+) DIDIPIO (LOM: 2032+) MACRAES (LOM: 2021+) ▪ Drilling to unlock potential ▪ Plant upgrade targeting ▪ Construction of Panel 2 ▪ Over 4.6 Moz of gold significant LOM extension 4.0Mt
Slide 17: Advancing Waihi Mine Life Extension
17 Advancing Waihi Mine Life Extension PERMITTING OF 10-YEAR MINE LIFE EXTENSION UNDERWAY INCREASED RESOURCE* ANNOUNCED AT MARTHA U/G Indicated: 0.76 Mt @ 5.8 g/t Au for 140 koz Inferred: 2.49 Mt @ 4.3 g/t Au for 339 koz UNDERGROUND EXPLORATION TARGET(1) INCREASED From between 0.5 Moz to 0.7 Moz up
Slide 18: Significant Waihi Exploration Results Continue
18 Significant Waihi Exploration Results Continue DRILLING FROM TWO DRILL DRIVES BENEATH MARTHA PIT YIELDING POSITIVE RESULTS RECENT SIGNIFICANT INTERCEPTS FROM MARTHA AND EMPIRE VEINS(1) ▪ 5.0 metres @ 65.3 g/t gold, 100 g/t silver, ▪ 9.0 metres @ 29.4 g/t gold, 288 g/t silver, ▪ 3.6 metres @ 31.9
Slide 19: WKP Exploration
19 WKP Exploration WKP REPRESENTS POTENTIAL INCREMENTAL MILL FEED AND MINE LIFE EXTENSION TO WAIHI RECENT SIGNIFICANT INTERCEPTS FROM EAST GRABEN VEIN (1) Tenements ▪ 8.7 metres @ 24.5 g/t gold, 32.0 g/t silver, ▪ 7.6 metres @ 10.8 g/t gold, 12.3 g/t silver, ▪ 7.0 metres @ 11.2 g/t gold, 10.6 g/t si
Slide 20: Advancing Haile Expansion
20 Advancing Haile Expansion HAILE PLANT UPGRADES UNDERWAY PERMITTING OF UG, MINING EXPANSION COMMENCING MID/2018 EXPANSION EXPECTED TO DELIVER INCREASED MINE LIFE(1) INCREASE OF PLANT THROUGHPUT UP TO 4.0 MTPA – UNDERWAY INSTALLATION OF PEBBLE CRUSHER COMPETED UPGRADE REGRINDING CIRCUIT TO ENHANCE
Slide 21: Haile Mineralisation Trends
21 Haile Mineralisation Trends BETTER UNDERSTANDING OF GEOLOGIC CONTROLS RESULTING IN ENHANCED TARGET GENERATION
Slide 22: Positive Results From Drilling
22 Positive Results From Drilling DRILLING FOCUS AND RESULTS REFLECT POTENTIAL RESOURCE EXTENSIONS BETWEEN PITS AND AT DEPTH
Slide 23: Didipio Underground
23 Didipio Underground RAMP-UP OF UNDERGROUND PROGRESSING WELL, INCREASING GRADES & MINING RATES IN 2018 & 2019 CONSTRUCTION OF PANEL TWO UNDERWAY INCREASING GRADES AND MINING RATES IN 2018 ▪ Steadily increasing ore production rates expected • 2018: 500 – 600 kt • 2019: 1.2 – 1.3 Mt • 2020 and beyon
Slide 24: Macraes Goldfield
24 Macraes Goldfield SIGNIFICANT RESOURCE OF 3.6 MOZ(1) OF GOLD REPRESENTS STRONG LEVERAGE TO THE GOLD PRICE STRONG PRODUCTION EXPECTED IN 2018 & 2019 2018 FCF OF $40M TO $50M @ $1,200/OZ AU CONTINUED EXPLORATION OF MACRAES GOLDFIELD ROUND HILL PROJECT REPRESENTS POTENTIAL OPTIONALITY 1. Total Gold
Slide 25: Macraes Redevelopment
25 Macraes Redevelopment MACRAES ROUND HILL PROJECT REPRESENTS POTENTIAL OPTIONALITY ROUND HILL/GOLDEN POINT RESOURCE Gold: 1.31 Moz(1)(2) TECHNICAL STUDY IN PROGRESS OBJECTIVE TO UNLOCK ROUND HILL & GOLDEN POINT RESOURCE THROUGH RELOCATION OF PLANT MINE LIFE EXTENSION POTENTIAL OF 10 YEARS 1. As at
Slide 26: 2018 Priorities
26 2018 Priorities ON TRACK TO ACHIEVE 2018 GUIDANCE GENERATE STRONG CASH FLOWS AND DELIVER ON ORGANIC GROWTH INITIATIVES OPERATIONS GROWTH ▪ Continued improvement of safety leadership ▪ Advancing the Waihi extension plans ▪ Identifying and implementing productivity ▪ Advancing the Haile expansion p
Slide 27: Corporate Headquarters
Corporate Headquarters Americas Corporate Office Level 14, 357 Collins Street 777 Hornby Street Suite 1910 Melbourne, Victoria, 3000 Vancouver, British Columbia V6Z 1S4 Australia Canada PO Box 355, E: info@oceanagold.com Flinders Lane Post Office Melbourne, Victoria, 3000 Australia T: +61 3 9656 530
Slide 28: Argentina Joint Ventures
28 Argentina Joint Ventures 75% EARN-IN STRUCTURE FOR BOTH JOINT VENTURES La Curva ASSETS LOCATED IN HIGHLY PROSPECTIVE GOLD REGION INITIAL DRILL CAMPAIGN AT LA CURVA YIELDED ENCOURAGING RESULTS Claudia FURTHER DRILLING PLANNED AT LA CURVA, INITIAL DRILLING PLANNED AT CLAUDIA IN 2018
Slide 29: Comparatives
29 Comparatives EV / RESERVES & RESOURCES(1) M&I RESOURCE(2) RESERVE LIFE(2) EV/Reserves EV/Resources 2P Reserves M&I Resources $900 14 14 $800 12 12 $700 10 10 $600 Resource (Moz) 8 8 $500 US$/oz Years $400 6 6 $300 4 4 $200 2 2 $100 $0 0 0 OceanaGold Regis Evolution Northern Star OceanaGold Evolut
Slide 30: Financial Results Overview
30 Financial Results Overview Q2 2018 Q1 2018 Q2 2017 FINANCIAL DRIVERS Revenue million $206 $197 $172 ▪ Higher QoQ revenue from stronger sales volumes EBITDA million $110 $101 $85 ▪ Continued strong EBITDA margin of 53% Net Profit million $45 $45 $25 ▪ Steady net profit with higher operating Avg Go
Slide 31: Cash Flows Overview
31 Cash Flows Overview Q2 2018 Q1 2018 Q2 2017 FINANCIAL DRIVERS Operating cash flow million $109 $77 $89 ▪ Strong operating cash flows driven by higher sales volumes and positive working Investing cash flow million ($60) ($59) ($72) capital movement Financing cash flow million ($8) ($4) ($7) ▪ Stea
Slide 32: Capital Expenditure Overview
32 Capital Expenditure Overview CONSOLIDATED (USDm) Q2 / 18 Q1 / 18 H1/18 2018 GUIDANCE GROWTH 21.3 20.0 41.3 102 – 116 GENERAL OPERATING 6.1 4.8 10.9 20 – 27 PRE-STRIP & CAPITALISED MINING 20.2 20.9 41.1 64 – 78 EXPLORATION 7.5 6.8 14.3 24 – 34 TOTAL 55.1 52.5 107.6 210 – 255 Q2 2018 (USDm) HAILE D