Slide 1: Full Year 2019 Financial and Operating Results
Full Year 2019 Financial and Operating Results 21 February 2020 CONSISTENTLY DELIVERING ON COMMITMENTS INNOVATION I PERFORMANCE I GROWTH
Slide 2: Cautionary and Technical Statements
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 offer
Slide 3: Results Overview
3 Results Overview OPERATING RESULTS OPERATIONS ▪ Haile Q4 production increased 26% QoQ Q4 2019 2019 ▪ Haile delivered four consecutive quarters of mine GOLD PRODUCTION 108.2 470.6 koz productivity improvements GOLD SALES 107.3 448.4 koz ▪ Macraes production increased ~20% QoQ kt COPPER PRODUCTION 0
Slide 4: ESG Overview
4 ESG Overview ENVIRONMENT SOCIAL TOP ESG PERFORMER • MSCI (TOP 5) • SUSTAINALYTICS (TOP 10) • VIGEO EIRIS (TOP 5) • ISS-ESG (“High Relative Performer”) TOTAL RECORDABLE INJURY FREQUENCY RATE (12-MMA) 14 13.06 12 10 8.09 8 6 5.49 4.56 4.50 4 3.99 3.99 3.60 2.69 2 0 2011 2012 2013 2014 2015 2016 2017
Slide 5: Didipio – A World Class Operation
5 Didipio – A World Class Operation DIDIPIO IS THE TEMPLATE FOR RESPONSIBLE MINING » FTAA RENEWAL WITH OFFICE OF THE PRESIDENT RAMP-UP SCHEDULE (under state of operational readiness) » STRONG SUPPORT FROM REGULATORY AGENCIES, Approx. Timing NATIONAL & LOCAL GOVERNMENTS TRUCKING ~ 1 week PROCESSING 1
Slide 6: The Voice of the Host Communities
6 The Voice of the Host Communities DEMONSTRATES OUR STRONG SOCIAL LICENSE TO OPERATE
Slide 7: Financial Results
7 FINANCIAL RESULTS Haile Gold Mine, United States
Slide 8: Income Statement Overview
8 Income Statement Overview FINANCIAL OVERVIEW Q4 2019 Q3 2019 2019 2018 REVENUE million $152.1 $133.6 $651.2 $772.5 EBITDA million $45.2 $33.9 $214.2 $363.7 NPAT million $8.7 $(21.9) $14.5 $121.7 ADJUSTED NET PROFIT(1) million $(0.7) $(5.3) $32.1 $124.1 ADJUSTED EPS(1) $/share $0.00 $(0.01) $0.05 $
Slide 9: Cash Flows Overview
9 Cash Flows Overview CASH FLOW OVERVIEW (USDm) Q4 2019 Q3 2019 2019 2018 OPERATING CASH FLOW 46.7 32.4 204.3 346.2 INVESTING CASH FLOW (51.4) (54.3) (239.7) (229.0) FINANCING CASH FLOW (4.3) (4.0) (21.0) (79.3) ADJUSTED CFPS (1) $0.07 $0.05 $0.33 $0.56 ▪ QoQ operating cash flows increased 44% on hi
Slide 10: Capital Investment Overview
10 Capital Investment Overview 2019 Updated CONSOLIDATED (USDm) Q4 2019 Q3 2019 2019 2018 Guidance GENERAL OPERATING 6.1 7.7 38.5 24.4 40 – 45 GROWTH CAPITAL 29.5 24.1 99.5 94.1 100 – 105 PRE-STRIP & CAPITALISED MINING 5.0 11.3 62.6 68.8 63 – 68 EXPLORATION 8.7 11.7 40.1 30.8 37 – 42 TOTAL 49.4 54.8
Slide 11: Balance Sheet Overview
11 Balance Sheet Overview (as at 31 Dec 2019) CASH BALANCE NET DEBT $49m Total Liquidity $99m $179 million CREDIT FACILITY (Undrawn) $50m NET DEBT/EBITDA 0.84 CREDIT FACILITY (Drawn) AMENDED CREDIT FACILITY Total Debt $150m $228m Matures in Dec/21 EQUIPMENT LEASES Remains at $200m $78m 1. Total liqu
Slide 12: History of Balance Sheet Management
USD '000 $50,000 $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 $0 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 DIDIPIO Q2 2013 Q3 2013 Peak Construction Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Total Debt Q1 2015 Q2 2015 Q3 2015 Net Debt Q4 2015 Q1 2016 Q2 2016 Q3 2016 BALANCE SHEET HISTORY Q
Slide 13: Outlook
13 OUTLOOK Waihi Gold Mine, New Zealand
Slide 14: 2020 Consolidated Outlook
14 2020 Consolidated Outlook1 CONSOLIDATED COST GUIDANCE 2020 GOLD PRODUCTION GUIDANCE 2020 Production Guidance 2020 Range 2019A Cash Costs $675 – $725 per oz sold 450 (2) All-in Sustaining Costs $1,075 – $1,125 per oz sold 400 350 SITE COST GUIDANCE Gold Production (koz) 300 (per oz sold) Haile Mac
Slide 15: Haile 2020 Overview
15 Haile 2020 Overview 2020 GUIDANCE 2019 ACTUAL 2020 CAPITAL INVESTMENT PROGRAM (USDm) GOLD PRODUCTION koz 180 – 190 146.1 GENERAL OPERATING CAPEX 10 – 15 PRE-STRIP CAPEX 50 – 55 CASH COSTS per oz sold $650 – $700 $859 GROWTH (NON-SUSTAINING) 55 – 60 $1,262 SITE AISC per oz sold $1,080 – $1,130 (in
Slide 16: Haile Physicals
16 Haile Physicals HAILE PLANT EXPANSION AND GROWTH(1)(2) MINING PHYSICALS Plant Throughput Throughput Range Gold Production Waste Mined Ore Mined TARGET EXPANSION THROUGHPUT 35,000 1.2 BETWEEN 3.5 – 4.0 MTPA 4.5 250 30,000 1.0 Ore mined grade (g/t) Material Mined (kt) 25,000 0.8 4.0 25% 20,000 Incr
Slide 17: Macraes 2020 Overview
17 Macraes 2020 Overview 2020 GUIDANCE 2019 ACTUAL 2020 CAPITAL INVESTMENT PROGRAM (USDm) GOLD PRODUCTION koz 160 – 170 172.5 GENERAL OPERATING CAPEX 10 – 15 PRE-STRIPPING CAPEX 20 – 25 CASH COSTS per oz sold $725 – $775 $736 GROWTH (NON-SUSTAINING) 8–9 $1,115 SITE AISC per oz sold $1,000 – $1,050 (
Slide 18: Waihi 2020 Overview
18 Waihi 2020 Overview 2020 GUIDANCE 2019 ACTUAL 2020 CAPITAL INVESTMENT PROGRAM (USDm) GOLD PRODUCTION koz 18 – 20 68.1 GENERAL OPERATING CAPEX – PRE-STRIPPING CAPEX – CASH COSTS per oz sold $700 – $750 $682 GROWTH (NON-SUSTAINING) 45 – 50 $826 SITE AISC per oz sold $715 – $765 (Includes $71/oz of
Slide 19: Martha Underground Project
19 Martha Underground Project MARTHA UNDERGROUND (after 3 years) EXPLORATION TARGET(1) Additional 6 – 8 Mt @ 4-6 g/t MARTHA UG RESOURCE GROWTH 1600 M&I Resource Inferred Resource 1500 M&I: 824 koz Empire West Empire 1400 Inferred: 614 koz 1300 1200 1100 M&I: 331 koz 1000 Inferred: 667 koz Resources
Slide 20: Waihi District Study
20 Waihi District Study WAIHI DISTRICT STUDY UNDERWAY – EXPECTED IN Q2 2020 WAIHI DISTRICT STUDY MARTHA UNDERGROUND WKP UNDERGROUND OTHER OPPORTUNITIES » IN DEVELOPMENT » EARLY-STAGE EXPLORATION » MARTHA OPEN PIT » FIRST PRODUCTION: Q2 2021 » 10-KM NORTH OF WAIHI PLANT » GLADSTONE » PRODUCTION RAMPI
Slide 21: 2020 Areas of Focus
2020 Areas of Focus FOCUSED ON EXECUTION AND DELIVERING VALUE WAIHI DISTRICT STUDY DIDIPIO RESTART HAILE EXPANSION Dome Field North Dome Field South Ohui MARTHA UNDERGROUND GOLDEN POINT UG Twin Hills White Bluffs Glamorgan Hauraki (WKP) Golden Cross Karangahake WAIHI
Slide 22: Corporate Headquarters
Corporate Headquarters Americas Corporate Office Level 14, 357 Collins Street Suite 350 4725 South Monaco Street Melbourne, Victoria, 3000 Denver, Colorado, 80237 Australia United States of America T: +61 3 9656 5300 F: +61 3 9656 5333 info@oceanagold.com oceanagold.com