Slide 1: Q2 2022 Financial and Operating Results
Q2 2022 FINANCIAL AND OPERATING RESULTS North America: July 28, 2022 Australia: July 29, 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: Q2 and H1 2022 Highlights and Update
Q2 AND H1 2022 HIGHLIGHTS AND UPDATE Solid Q2 results lead to strong H1 performance Strengthening balance sheet and reducing leverage ratios Updated full-year guidance for 2022 • Gold production unchanged • Copper production increased • AISC increased due to inflationary impacts • Full-year capital
Slide 4: Q2 Results in Line with Expectations
Q2 RESULTS IN LINE WITH EXPECTATIONS Contributing to a strong H1 performance 2.7 TRIFR based 112,296 ounces $229 million on 12 MMA Q2 gold production Q2 revenue Per million hours worked H1 gold production Record H1 revenue of 246,331 ounces of $515 million $1,430/ounce $9 million $50 million Q2 AISC
Slide 5: Financial Results Overview
FINANCIAL RESULTS OVERVIEW Strong improvement on prior H1 with Didipio’s return to operation Q2 HIGHLIGHTS Q2 2022 Q2 2021 H1 2022 H2 2021 • EBITDA of $74.7 million Revenue US$M 229.4 182.6 515.1 331.5 • Adjusted Earnings per share of $0.05 EBITDA US$M 74.7 89.9 232.7 151.9 • Adjusted Operating Cash
Slide 6: Gold Production Guidance Reaffirmed, Copper Production Increased
GOLD PRODUCTION GUIDANCE REAFFIRMED, COPPER PRODUCTION INCREASED, AISC EXPECTED TO BE HIGHER 2022 PRODUCTION AND COST GUIDANCE HAILE DIDIPIO WAIHI MACRAES CONSOLIDATED1 GOLD PRODUCTION - REVISED koz 165 – 175 110 – 120 35 – 45 140 – 155 445 – 495 COPPER PRODUCTION - REVISED kt - 12 – 14 - - 12 – 14
Slide 7: AISC Guidance Waterfall
AISC GUIDANCE WATERFALL (FROM MID POINT) Inflationary impacts outweighing FX benefits and capital reductions • Broad-based inflationary cost impacts, diesel single largest • Partially offset by lower NZ$-denominated costs in US$ terms • Lower copper/silver prices impacting forecast H2 by-product rev
Slide 8: Lower Level of Capital Expenditure Expected in 2022
LOWER LEVEL OF CAPITAL EXPENDITURE EXPECTED IN 2022 2022 CAPITAL INVESTMENTS GUIDANCE HAILE DIDIPIO WAIHI MACRAES CONSOLIDATED1 INCLUDED IN AISC TOTAL CAPEX – PRIOR US$M 165 – 180 25 – 35 60 – 75 90 – 105 335 – 395 250 – 285 TOTAL CAPEX - UPDATED US$M 145 – 160 25 – 35 50 – 65 85 – 100 305 – 365 230
Slide 9: Haile Q2 2022
HAILE Q2 2022 Delivering to plan • Q2 production 38 koz gold as mining transitioned to lower-grade Haile pit • Productivity improvements continuing to increase mill feed rates • Major process plant shutdown, full-year maintenance completed • Increased full-year production guidance, site AISC guidanc
Slide 10: Haile Permitting Update
HAILE PERMITTING UPDATE WATER TREATMENT PLANT EXPANSION PERMIT RECEIVED • Doubling of water discharge rates to 3.5 million gallons per day • Allows for improved water management and operational efficiencies • Water treatment plant expansion is underway, completion H1 2023 SEIS IN FINAL REVIEW • SEIS
Slide 11: Didipio Q2 2022
DIDIPIO Q2 2022 First quarter at full underground mining rates • Produced 29.3 koz gold at site AISC of $609/oz • Received amended ECC increasing allowable mill throughput to 4.3Mtpa • Increasing full-year gold and copper production guidance • Cost guidance increased due declining copper prices and
Slide 12: Macraes Q2 2022
MACRAES Q2 2022 Maintains steady production profile • Produced 36.9 koz gold at a site AISC of $1458/oz • Mined first ore at Golden Point Underground ("GPUG") • GPUG mine plan amended to improve ground conditions • Maintained full-year production guidance • Cost guidance increased due to higher dies
Slide 13: Waihi Q2 2022
WAIHI Q2 2022 Improved performance expected in H2 • Produced 8.2 koz gold • 2022/23 grade control drill program completed • Production levels expected to improve in H2 • Revised life of mine plan in progress • Lodged consent application for Waihi North Project 2022 PRODUCTION Q2 2022 Q2 2021 H1 2022
Slide 14: Strengthening Executive Leadership Team
STRENGTHENING EXECUTIVE LEADERSHIP TEAM Enhanced technical team to drive value across the portfolio Peter Sharpe David Londono Scott Sullivan Chief Operating Officer Asia-Pacific Chief Operating Officer Americas Chief Technical and Projects Officer Megan Saussey Craig Feebrey 14 14 EVP Sustainabilit
Slide 15: ASX Delisting & Corporate HQ Relocating
ASX DELISTING & CORPORATE HQ RELOCATING Improved alignment with our shareholder base RECEIVED FORMAL APPROVAL TO DELIST CDI’S FROM THE ASX • Voluntary share sale facility will be established to assist CDI holders ASX DELISTING DUE TO: • Low trading volumes and lack of index inclusion • Declining sha
Slide 16: A Focus on Delivering Shareholder Value
A FOCUS ON DELIVERING SHAREHOLDER VALUE Key priorities Safely and responsibly delivering production Execute on business plans and manage risks Optimise production and reduce costs to maximise FCF generation Investing in high-value growth and exploration capability to deliver attractive returns 16 16
Slide 17: 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