Oceanagold Corporation · TSX:OGC
Oceanagold — Investor Presentation (January 2026)
40 slides from Oceanagold's investor presentation, January 2026
Slide 1: Delivering Returns and Growth
Delivering Returns and Growth January 2026
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: Global Intermediate Gold and Copper Producer
Global Intermediate Gold and Copper Producer Mining gold for a better future Committed to safely and responsibly 4 operating mines Total gold maximizing the generation of 35+ years in attractive Reserves of exploration, development Free Cash Flow of 6.2 Moz & M&I from our operations and jurisdiction
Slide 4: Our Purpose, Our Vision, Our Values
Our Purpose Mining gold for a better future Our Vision To be a company people trust, want to work and partner with, supply and invest in, to create value Our Values Care Respect Integrity Performance Teamwork 4
Slide 5: Diversified Portfolio
Diversified Portfolio Four operating assets producing GOLD & COPPER with significant organic growth opportunities 2025 Guidance 450 – 520 koz 13 – 15 kt $1,900 - $2,050 GOLD PRODUCTION COPPER PRODUCTION AISC2 HEAD DIDIPIO OFFICE Philippines 20% Vancouver, Canada 85 - 105 koz MACRAES HAILE 2025 Unite
Slide 6: Well Positioned for the Next Stage of Our Growth
Executing Strong The right Well Positioned our strategy balance sheet leaders in place for the Next Stage Investing in low-risk No debt, strengthening Strong, capable and of Our Growth organic growth cash balance and robust FCF generation aligned leaders to deliver the next phase of the business 6
Slide 7: Strong, Capable & Aligned Leadership Team
GERARD MARIUS VAN BHUVANESH KEENAN BOND NIEKERK MALHOTRA JENNINGS Strong, Capable President & Chief Executive Officer EVP, Chief Financial Officer EVP, Chief Operating Officer EVP, Chief Exploration Officer & Aligned Leadership Team MICHELLE LIANG RICHARD EDELSON TANG SAVAGE EVP, Chief People & EVP,
Slide 8: Executing on Our Corporate Strategy
Executing on Our Corporate Strategy Five pillars to increase and sustain a higher value for OceanaGold shares 1 2 3 4 5 Safely and A Caring, Inclusive Increase Resources Deliver Financial Premium Rating with Responsibly Deliver and Winning and Reserves Cost Strength and the Investment Gold Productio
Slide 9: Safely and Responsibly Deliver Gold Production
1 Safely and Responsibly Deliver Gold Production 650 620 600 Gold Production (koz) 550 Organic, low-risk, 520 550 production growth 500 489 450 450 2026 guidance to be 400 issued in February and will include the 350 updated Technical Reports2 300 2024 Actual 2025 Guidance 2026 Outlook 1 1. See Q4 20
Slide 10: Operating and Investing in Top Quartile Jurisdictions
New Zealand Operating and Investing ranked 12th overall, in Top Quartile Jurisdictions1 #12 out of 82 global jurisdictions New Zealand and the Philippines ranked as 1st and 2nd (up from 43rd last year) (in Australia and Oceania)1 The Philippines New Zealand Philippines ranked 16th overall, #16 out o
Slide 11: Sustainability is Central to Business Performance
36% of short-term High importance on delivering incentive KPIs were results in a responsible way sustainability related1 5% 10% Sustainability is 16% 2024 Corporate 44% Central to Business Safety of the workforce, care for Scorecard & KPI Breakdown1 the environment, positive Performance relationship
Slide 12: A Caring, Inclusive and Winning Culture
2 A Caring, Inclusive and Winning Culture Culture survey achieved strong employee engagement scores, 10% higher than industry benchmark Strength in technical expertise and across our business Focused on creating an inclusive and respectful workplace experience for our workforce Living Our Values pro
Slide 13: Increase Resources & Reserves Cost Effectively
3 Increase Resources & Reserves Cost Effectively 2024 Reserve Changes1 Net increase of 1.21 Mineral Reserves by 27% in 20241 6.22 -0.48 Declared an initial 0.23 0.09 Reserve at Wharekirauponga 0.13 0.16 underground in 2024 4.89 $49/oz Au Increasing exploration Average Reserve investment across cost
Slide 14: Key Catalysts
EXPECTED PROJECT CATALYST TIMING 1 Ledbetter 4 UG study & Technical Report March 2026 updated Haile mine plan (NI 43-101) HAILE Palomino Underground First Ore 2028 Potential for mine Technical Report life extension March 2026 (NI 43-101) Key Catalysts MACRAES Attractive organic growth projects Tunne
Slide 15: Deliver Financial Strength and Returns
4 Deliver Financial Strength and Returns GROWTH STRONG BAL ANCE SHEET Significant Investing in development Debt free with improvement in and exploration growth increasing cash financial performance with attractive returns position Capital Strong financial Allocation performance provides flexibility
Slide 16: Increasing Cash Balance and Enhanced Shareholder Returns
Increasing Cash Balance and Enhanced Shareholder Returns 299 335 Adding Cash to the 228 192 Robust Balance Sheet 72 30 financial position Net Cash (debt) ($M) (77) (82) (191) (136) (172) No debt Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 46 Increasing Returning Capital shareho
Slide 17: A Focus on Per Share Metrics
A Focus on Per Share Metrics Production (oz/‘000 share) Operating Cash Flow1 ($/share) 2.48 2.76 Strong per share metrics 2.0 2.0 2.0 1.5 1.5 1.62 1.69 1.11 Free Cash Flow powered by strong production and high 2021 2022 2023 2024 YTD 2025 2 2021 2022 2023 2024 YTD 2025 2 gold price environment No go
Slide 18: Delivering Strong Returns on Capital
Delivering Strong Returns on Capital Generated $422M in Free Cash Flow over the last 12 months Free Cash Flow Yield1 Return on Capital Employed2 LTM Q3 25 15% LTM Q3 25 17% FY 24 14% FY 24 9% FY 23 3% FY 23 7% FY 22 4% FY 22 6% 1. Calculated as trailing 12 month Free Cash Flow over the average trail
Slide 19: A Premium Rating with the Investment Community
5 A Premium Rating with the Investment Community 2 0 2 5 E C a p i t a l R e t u r n Yi e l d 1 P/ N AV 2 2 0 2 6 E EV E B I T DA 3 CG 4.5% LUG 2.2x LUG 12.9x Independent Chair CDE OGC 3.0% 2.0x DPM 9.1x and strong technical EDV 2.9% EVN 1.5x PAAS 8.8x NGD 1.5x AGI 8.7x Directors LUG 2.7% K K 1.5x C
Slide 20: Investment Thesis
Global intermediate gold and copper producer with deep expertise in operations, development and exploration Committed to safe and responsible mining managing our impacts and contributing to our host communities and society Investment Attractive financial outlook with significant production growth an
Slide 21: Haile: Growth in the USA
HAILE HAILE Growth in the USA OVERVIEW Location South Carolina, USA ~38% Metals Gold of OGC’s Annual Mine Type Production2 Open Pit & Underground Processing Type Carbon-in-leach flotation plant Mine Life1 2025 Guidance 2035+ 170 - 200 koz $2,050 - $2,200/oz GOLD PRODUCTION AISC 1. Based on the techn
Slide 22: Haile: Delivering Growth
Delivering Growth HAILE Opportunity Next Steps • Grade driven production growth1 • Deliver on production and • Optimize and extend cost guidance2 Horseshoe Underground • Advance development of • First ore from Palomino ($7M project Palomino Underground spend in 2025) expected 2028 • Ledbetter 4 trad
Slide 23: Haile: Exploration
Exploration HAILE Multi-million ounce mine with further upside potential Strategic Only gold producer in under-explored Position gold district History of low $24 discovery cost per ounce1 Continue exploration with focus on underground Leverage growing knowledge of deposit scale controls on mineraliz
Slide 24: Macraes: The Foundation Asset
MACRAES MACRAES The foundation asset OVERVIEW Location South Island, New Zealand ~29% Metals Gold of OGC’s Annual Mine Type Production1 Open Pit & Underground Processing Type Carbon-in-leach, Pressure oxidation 2025 Guidance 135 - 150 koz $1,800 - $1,950/oz GOLD PRODUCTION AISC 1. Based on the mid-p
Slide 25: Macraes: Exploration
MACRAES Exploration 5 Moz produced from 11 deposits Strategic 30 km highly mineralized structure Position Large >14,000 ha prospective land holding Significant ounce potential with leverage to higher gold prices Continuing target generation utilizing data-rich environment and artificial Opportunity
Slide 26: Waihi: The Gateway to Wharekirauponga
WAIHI WAIHI The gateway to Wharekirauponga OVERVIEW Location North Island, New Zealand ~13% Metals Gold, Silver of OGC’s Annual Mine Type Production2 Underground Processing Type Carbon-in-pulp Mine Life1 2025 Guidance 2038+ (MUG+WUG) 55 - 70 koz $2,000 - $2,200/oz GOLD PRODUCTION AISC 1. Based on th
Slide 27: Waihi: Future High-Grade Feed to Existing Process Plant
Future High-Grade Feed to Existing Process Plant WAIHI Opportunity Next Steps • Wharekirauponga is ~10km • Deliver on production north of the Waihi process plant and cost guidance2 • Wharekirauponga Underground • Continued optimization of has an exceptional Reserve remnant mining process grade of 9.
Slide 28: Waihi District Highlights
Waihi District Highlights WAIHI Declared an initial Mineral Reserve at Wharekirauponga Underground of 4.1 Mt at 9.2 g/t for 1.2 million ounces of gold1 Received permit approval to develop and operate the Waihi North Project, which includes the high-grade Wharekirauponga Underground mine The Waihi Di
Slide 29: Waihi North Project Development Updates
Waihi North Project Development Updates WAIHI Key Milestones Next Steps Services trench construction Expected completion in Q2 2026 • Commenced Q3 2025 Water treatment plant expansion Expected completion in Q2 2026 • Commenced Q3 2025 Services trench – October 2025 Underground development Tunnelling
Slide 30: Waihi: Exploration
Exploration WAIHI 8 Moz high-grade epithermal district1 Large land holding centered on 3 major Strategic epithermal deposits Position Wharekirauponga $39 discovery cost per ounce2 Significant reserve growth potential at Wharekirauponga and Martha Additional discovery opportunity across all tenements
Slide 31: Wharekirauponga: Continued Exploration Success
Wharekirauponga: Continued Exploration Success1 1. See news release titled “OceanaGold Extends High-Grade Mineralization at Wharekirauponga and Receives Draft Decision and Conditions to Approve the Waihi North Project”, dated November 25, 2025. 31
Slide 32: Didipio: A Strong Free Cash Flow Generator with Upside
Didipio DIDIPIO A strong Free Cash Flow generator with upside OVERVIEW Location Luzon Island, Philippines Metals Gold & Copper ~20% Ownership of OGC’s Annual 80% OceanaGold, 20% PSE Listed Production2 Mine Type Stockpile & Underground Processing Type Gravity, Flotation 2025 Guidance Mine Life1 2035+
Slide 33: Didipio: Exploration
Exploration DIDIPIO HAILE High-margin Copper-Gold porphry Multi-million-ounce deposit with large and Strategic prospective land holding Position Low $34 discovery cost per ounce1 Continued growth through resource conversion and discovery Regional discovery potential across the FTAA2 Opportunity Leve
Slide 34: Appendix
4) OCEANAGOLD Appendix
Slide 35: Capital Structure
Capital Structure Capitalization1,2 Top Shareholders2 Analyst Coverage TSX / OTCQX OGC / OCANF BMO Capital Markets Brian Quast Issued and Outstanding Shares1: 228M Canaccord Genuity Jeremy Hoy Fully Diluted Shares1: 234M CIBC World Markets Cosmos Chiu Current Share Price (CAD)2: $45.26 Cormark Secur
Slide 36: Board of Directors
PAUL GERARD LINDA SANDRA BENSON BOND BROUGHTON DODDS Chairman Executive Director Non-Executive Non-Executive Board Director Director of Directors STEFANIE CRAIG ALAN IAN LOADER NELSEN PANGBOURNE REID Non-Executive Non-Executive Non-Executive Non-Executive Director Director Director Director 36
Slide 37: Proven and Probable Reserves
Proven and Probable Reserves As at December 31, 2024 Proven Probable Proven & Probable Tonnes (Mt) Au (g/t) Contained Ozs (Moz) Tonnes (Mt) Au (g/t) Contained Ozs (Moz) Tonnes (Mt) Au (g/t) Contained Ozs (Moz) Cut-off grade Horseshoe underground 1.12 4.72 0.17 2.66 4.49 0.38 3.78 4.56 0.55 1.79 g/t
Slide 38: Measured, Indicated & Inferred Resources
Measured, Indicated & Inferred Resources As at December 31, 2024 Measured Indicated Measured & Indicated Inferred Cut-off grade Tonnes (Mt) Au (g/t) Contained (Moz) Tonnes (Mt) Au (g/t) Contained (Moz) Tonnes (Mt) Au (g/t) Contained (Moz) Tonnes (Mt) Au (g/t) Contained (Moz) Horseshoe underground 1.
Slide 39: Technical Disclosure
Technical Disclosure Notes to Mineral Reserves and Mineral Resources Estimates All Mineral Reserves and Mineral Resources were estimated as at December 31, 2024, are shown on a 100% basis and have been prepared in accordance with NI 43-101. All tonnage, grade and contained metal content estimates ha
Slide 40: Investor Relations Contacts
BRIAN MARTIN SVP, Business Development & Investor Relations HALEY MAYERS 400 Burrard Street #1020 Vice President, Vancouver, British Columbia Investor Relations V6C 3B7 Canada +1 604 678 4123 VALERIE BURNS ir@oceanagold.com Manager, Investor Relations oceanagold.com