Oceanagold Corporation · TSX:OGC
Oceanagold — Investor Presentation (May 2025)
41 slides from Oceanagold's investor presentation, May 2025
Slide 1: Generating Returns
Generating Returns May 2025 CARE | RESPECT | INTEGRITY | PERFORMANCE | TEAMWORK
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 with Significant Growth Potential
Global Intermediate Gold and Copper Producer with Significant Growth Potential Mining gold for a better future Committed to safely and responsibly maximizing the generation of Free Cash Flow from our operations and delivering strong returns for our shareholders Four operating mines, located in the U
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: 2025 Guidance: Diversified Portfolio
Diversified Portfolio Four operating assets producing GOLD & COPPER with significant organic growth opportunities HAILE, United States of America 170-200 koz 20% 450 – 520 koz 38% DIDIPIO, Philippines 2025 GUIDANCE Gold production 85-105 koz 2025 Gold 13 – 15 kt Production1 Copper production MACRAES
Slide 6: Well Positioned for the Next Stage of Our Growth
Well Positioned for the Next Stage of Our Growth Executing our strategy Investing in low-risk organic growth Strong balance sheet Net Cash position with a robust FCF outlook The right leaders in place Strong, capable and aligned leaders to deliver the next phase of the business 6
Slide 7: Strong, Capable & Aligned Leadership Team
Strong, GERARD MICHELLE CRAIG BHUVANESH Capable & BOND President & DU PLESSIS EVP, Chief People & FEEBREY EVP, Chief Exploration MALHOTRA EVP, Chief Technical Aligned Chief Executive Officer Technology Officer Officer & Projects Officer Leadership Team MEGAN PETER LIANG MARIUS SAUSSEY SHARPE TANG VA
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, Increase Deliver Financial Premium Responsibly Deliver Inclusive and Resources and Strength and Rating with Gold Production Winning Culture Reserves Cost Retur
Slide 9: Gold Production (koz)
Organic, low-risk, production growth Grade-driven production Progressed Safety of 20% expected over growth at Haile Improvement Plan the next 2 years1 1 650 +20%1 620 Safely and 600 Responsibly Deliver 550 520 Gold Production (koz) 550 Gold Production 500 489 450 450 400 350 300 2024 Actual 2025 Gui
Slide 10: Sustainability is Central to Business Performance
Sustainability is Central to Business Performance High importance on delivering results in a responsible way 36% of 2025 short-term incentive KPIs are sustainability related1 Safety of the workforce, care for the 5% environment, positive relationships with 9% Production the community 43% Growth Cult
Slide 11: A Caring, Inclusive and Winning Culture
Culture survey achieved strong employee Strength in technical expertise engagement scores for the second consecutive and across our business year Focused on creating an inclusive and Living Our Values program respectful workplace experience for our celebrates outstanding role 2 workforce models of o
Slide 12: Increase Resources & Reserves Cost Effectively
Net increase of Mineral Declared an initial Reserve Increasing exploration Reserves by 27% in at Wharekirauponga underground in 2024 investment across all sites 20241 3 2024 Reserve Changes1 1.21 Increase -0.48 6.22 Resources & Reserves Cost Effectively 0.23 0.09 0.13 0.16 4.89 $49/oz Au Average Res
Slide 13: Growing the Exploration Pipeline
Growing the Exploration Pipeline Project Status Haile Didipio Waihi Macraes Studies 1 Reserve Conversion 1. Horseshoe UG 1. Didipio Panel 2, 3 & 4 1. Martha UG 1. Golden Point UG 1. Ledbetter UG 3. True Blue 1. EG Vein (Wharekirauponga) 1. Coronation 6, 7 & 8 2 Resource Definition 4. Pisces 4. Napar
Slide 14: Deliver Financial Strength and Returns
Strong financial performance Disciplined capital allocation Significant improvement provides flexibility to to drive shareholder in financial performance allocate capital returns since 2021 4 Capital Allocation Framework Deliver Financial Strength and Strong Share Returns Growth Balance Sheet Divide
Slide 15: 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 271 Board approved Rising gold price provides $100M of share buybacks and significant
Slide 16: A Focus on Per Share Metrics and Respect of Equity Capital
A Focus on Per Share Metrics and Respect of Equity Capital Production (oz/‘000 share) Operating Cash Flow1 (¢/share) 0.7 0.7 0.7 83 0.5 52 55 Per share metrics improved in 37 2024 Free Cash Flow powered by 2021 2022 2023 2024 2021 2022 2023 2024 strong production and high gold price environment Free
Slide 17: A Premium Rating with the Investment Community
Independent Chair and Strong Management Exploring a potential strong technical team U.S. listing Directors 5 Consensus Price to Net Asset Value Consensus P/NAV A Premium Rating with the Investment Peer Community Range2 0.80x 0.87x 2025 YTD average 1 Current 1 Aspiration 1. Per S&P Capital IQ consens
Slide 18: 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 19: Haile Overview
HAILE HAILE Growth in the USA ~38% of OGC’s Annual Production2 Location South Carolina, USA Metals Gold OVERVIEW Mine Type Open Pit & 2025 Guidance Underground 170 - 200 koz Au Processing Carbon-in-leach Type flotation plant Mine Life1 2035+ 2025 ASIC: $2,050 - $2,200/oz 1. Based the technical repor
Slide 20: Haile: Delivering Growth
Delivering Growth HAILE Grade driven production growth1 Optimize and extend Horseshoe underground Opportunity Palomino, Pisces and Ledbetter Phase 4 as potential future underground ore sources Deliver on Waste stripping to Advance Palomino Ledbetter 4 trade-off Next Steps production and unlock Ledbe
Slide 21: Haile Exploration
EXPLORATION $10M 2025 Exploration HAILE Guidance Strategic Multi-million ounce mine with further Position upside potential Only gold producer in under-explored gold district History of low $24 discovery cost per ounce1 Opportunity Continue exploration with focus on underground Leverage growing knowl
Slide 22: Didipio Overview
DIDIPIO DIDIPIO A Strong Free Cash Flow Generator with Upside Location Luzon Island, ~20% Philippines of OGC’s Annual Production2 Metals Gold & Copper Ownership 80% OceanaGold, OVERVIEW 20% PSE Listed 2025 Guidance 85 - 105 koz Au Mine Type Stockpile & 13 - 15 kt Cu Underground Processing Gravity, F
Slide 23: Potential to Increase Mining from Underground
Potential to Increase Mining from Underground DIDIPIO Maximize recovery of high-grade breccia Underground stopes Reserve Grades2: 40% 60% Optimization work suggests ability to 1.12 g/t Au increase mining rates from Current Potential 0.36% Cu mill feed mill feed Opportunity underground1 mix1 mix1 60%
Slide 24: Didipio Exploration
EXPLORATION $10M 2025 Exploration DIDIPIO Guidance Strategic High-margin Copper - Gold porphyry Position Multi-million-ounce deposit with large and prospective land holding ~7,000 ha Low $34 discovery cost per ounce1 Opportunity Continued growth through resource conversion and discovery Regional dis
Slide 25: Macraes Overview
MACRAES MACRAES The Foundation Asset ~29% of OGC’s Annual Production1 Location South Island, New Zealand OVERVIEW Metals Gold 2025 Guidance Mine Type Open Pit & 135 - 150 koz Au Underground Processing Carbon-in-leach, Type Pressure oxidation 2025 ASIC: $1,800 - $1,950/oz 25 1. Based on the mid-point
Slide 26: Potential for Mine Life Extension
Potential for Mine Life Extension MACRAES Spot Gold Price2 vs Reserve & Resource Price1 3,500 3,250 Current gold prices are significantly higher 3,000 than reserve prices 2,750 2,500 US$/oz Potential for pit shell expansions 2,250 Opportunity 2,000 at higher gold prices 1,750 1,500 Current measured
Slide 27: Macraes Exploration
EXPLORATION $5M 2025 Exploration MACRAES Guidance Strategic 5 Moz produced from 11 deposits1 Position 30km highly mineralized structure Large >14,000 ha prospective land holding Opportunity Significant ounce potential with leverage to higher gold prices Continuing target generation utilizing data-ri
Slide 28: Waihi Overview
WAIHI WAIHI The Gateway to Wharekirauponga ~13% Location North Island, of OGC’s Annual Production2 New Zealand Metals Gold, Silver OVERVIEW 2025 Guidance2 Mine Type Underground 55 - 70 koz Au Processing Carbon-in-pulp Type Mine Life1 2038+ (MUG+WUG) 2025 ASIC: $2,000 - $2,200/oz 1. Based on the tech
Slide 29: Future High-Grade Feed to Existing Process Plant
Future High-Grade Feed to Existing Process Plant WAIHI Wharekirauponga is ~10km north of the Waihi process plant Wharekirauponga Underground with exceptional Reserve grade of 9.2 g/t1 Opportunity Drilling to-date focused largely on the East Graben vein zone only The deposit is open along strike and
Slide 30: Waihi District PFS Highlights
Waihi District PFS Highlights OceanaGold is a safe and responsible operator with a 30-year history of exploring, operating, and developing projects in New Zealand Declared an initial Mineral Reserve at Wharekirauponga Underground of 4.1 Mt at 9.2 g/t for 1.2 million ounces of gold1 Permits are expec
Slide 31: Waihi Exploration
EXPLORATION $15M 2025 Exploration WAIHI Guidance Strategic 8 Moz high-grade epithermal district1 Position Large land holding centered on 3 major epithermal deposits Wharekirauponga $39 discovery cost per ounce2 Opportunity Significant reserve growth potential at Wharekirauponga and Martha Additional
Slide 32: Wharekirauponga: Continued Exploration Success
Wharekirauponga: Continued Exploration Success1 32 1. See news release titled “OceanaGold Submits WNP Application for Fast-track Approval and Reports Additional High-Grade Mineralization at Wharekirauponga”, dated March 4, 2025.
Slide 33: Appendix
APPENDIX
Slide 34: Capital Structure
Capital Structure Capitalization1,2 Share Ownership3 Analyst Coverage TSX / OTCQX OGC / OCANF Issued and Outstanding Shares: 698M Fully Diluted Shares: 717M 44.5% Current Share Price (CAD)2: $5.68 55.1% 52-Week Low / High (CAD)2: $2.95 / $6.19 Market Capitalization (CAD)2: ~$4.0B 0.3% Institutional
Slide 35: 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 36: Board of Directors
Board of Directors PAUL GERARD LINDA SANDRA STEFANIE CRAIG ALAN IAN BENSON BOND BROUGHTON DODDS LOADER NELSEN PANGBOURNE REID Chairman Executive Director Non-Executive Director Non-Executive Director Non-Executive Director Non-Executive Director Non-Executive Director Non-Executive 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: Surface Operations Overview and Pit Sequencing
Surface Operations Overview and Pit Sequencing Current Mineral Reserves at $1500/oz • Innes Mills 6 (completed) • Innes Mills 7 (2025) • Innes Mills 8 (2025-2026) Potential Mine Life Extension1 • Innes Mills 9 (2026-2029) • Innes Mills 10 (2028-2030) Mining Fleet • Drill: 3x top hammer, 1 x rotary •
Slide 40: 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 41: Investor Relations Contacts
Brian Martin SVP, Business Development & Investor Relations 400 Burrard Street #1020 Vancouver, British Columbia V6C 3B7 Haley Mayers Canada Vice President, Investor Relations +1 604 678 4123 ir@oceanagold.com Valerie Burns oceanagold.com Manager, Investor Relations