Oceanagold Corporation · TSX:OGC

Oceanagold — Investor Presentation (April 2012)

35 slides from Oceanagold's investor presentation, April 2012

1. Slide 1: Corporate Presentation

   Corporate Presentation April 2012

2. Slide 2: Cautionary Notes

   Cautionary Notes 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, securiti

3. Slide 3: Corporate Overview

   Corporate Overview Market Overview (30 March 2012) Market Capitalisation ~US$705m Shares Outstanding 262.7m Non-listed Options 7.1m Average Daily Trading Volume (last 90 days) 1.1m Listed as “OGC” TSX, ASX, NZX Share indices: TSX Composite ASX 200 NZX 50 3

4. Slide 4: OceanaGold Vision 2016

   OceanaGold Vision 2016  High performing, growth orientated, Asia Pacific gold company  Explore, develop and operate quality assets in a safe & sustainable manner Our Vision 2016 Enablers  Superior returns to shareholders  Innovative team culture  Annual production of 600Koz gold  Acting on opp

5. Slide 5: OceanaGold Investment Proposition

   OceanaGold Investment Proposition EXPERIENCED GOLD PRODUCER ORGANIC GROWTH STRATEGY ASIA PACIFIC FOCUS  Solid production growth with Luzon Didipio declining cash cost profile Philippines Baguio Didipio Stage II Manila  FY2012 Guidance of 230- 250K oz Au @ US$900- $980 / oz cash costs Mindanao  Hi

6. Slide 6: Organic Growth Potential

   Organic Growth Potential Project Development Drilling Scoping Feasibility Development Production Measured Macraes Didipio expansion Didipio Frasers Indicated Macraes Superpit Reefton Inferred Blackwater Greenfield Underground Open Pit 6 Note: Conceptual growth potential

7. Slide 7: Production Growth Potential

   Production Growth Potential Our Vision: 600Koz gold production by 2016 700 600 500 Gold Production Koz 400 300 200 100 0 2011A 2012E 2013E 2014E 2015E 2016E New Project Blackwater Didipio Stage II Didipio Reefton Macraes Goldfields 7 Note: Conceptual growth potential

8. Slide 8: Current Producing Assets

   Current Producing Assets Successful long term presence in New Zealand Macraes Frasers Reefton Macraes Frasers Reefton Mine Type Open Pit Underground Open Pit Resources1 Gold (Moz) 4.55 1.19 1.20 Reserves1 Gold (Moz) 1.41 0.18 0.37 Estimated Mine Life ~2019 ~2017 ~2015 - 2017 Gold Production (ounces)

9. Slide 9: New Zealand Exploration

   New Zealand Exploration Macraes Goldfield Reefton Goldfield  10 million oz mined historically Frasers Underground  Blackwater  50Koz potential  Increase M&I resources (5 Dec 2011)  13,500m drilling program in progress  M&I Resources 10.2Mt @ 2.26g/t for 745Koz Au  Big River  Deposit extends

10. Slide 10: Blackwater Project

    Blackwater Project  5km decline from surface  Narrow vein mining  Process at Reefton plant  Deep drilling commenced Q4 2011  Definitive feasibility study 2013  Potential production 50koz p.a. @sub $600/oz 10

11. Slide 11: Didipio Gold Copper Project

    Didipio Gold Copper Project Construction commenced June 2011  Mine life: 16 years  Annual production 100Koz Au + 14Kt Cu (LOM Av.)  Gold reserves 1.68Moz  Copper reserves 229Kt  Ore reserves 50.7Mt @ 1.03g/t Au and 0.45% Cu  Years 1-6: Negative cash cost1 of US$(79)/oz Au  LOM: Cash cost1 US$

12. Slide 12: Didipio Project Key Schedule

    Didipio Project Key Schedule On track to commission Q4 2012, full year production 2013 2011 2012 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Site access road • First ore in mills • Commissioning Construction camp complete Operations village Mining infrastructure Tailings Storage Facility Storage Sheds Power station Crushi

13. Slide 13: Procurement Status

    Procurement Status Item Ordered Current On site Philippines Storage ETA Mills  Philippines Late March Mill Heads  Philippines Flotation Cells  Philippines Late March Thickeners  Philippines Flotation Plant  Philippines Jaw Crusher  Philippines Cyclone Cluster  Philippines Power Gen Set  Chin

14. Slide 14: Didipio Stage II Concept

    Didipio Stage II Concept 6 300  Increase plant from 5 250 3.5Mtpa to 5Mpta Throughput Mtpa 4 200  Nominal production Gold Koz 3 150 rate 2 100 1 50  150koz Gold 0 0  20kt Copper 2013E 2014E 2015E 2016E Throughput Gold Production Total Gold Equivalent Production  Add ball mills, flotation, power

15. Slide 15: Significant Near Mine Exploration Potential

    Significant Near Mine Exploration Potential Drilling program planned for H1 2012 Mogambos  Additional porphyry systems in the  Exploration team established in exploration lease country  Multiple drilling targets  Forecast $5-10M p.a. 15

16. Slide 16: Didipio Construction Progress Jan 2012

    Didipio Construction Progress Jan 2012 Crushing TSF filter materials First steel Tailings thickener foundation Sag mill base Earth moving equipment on site Flotation area concrete work 16

17. Slide 17: Didipio Construction Progress Feb 2012

    Didipio Construction Progress Feb 2012 Ball Mill Plinth Filtration & storage area Filtration area Flotation area Tailings thickener concrete pour TSF area keyway 17

18. Slide 18: Didipio Construction Progress March 2012

    Didipio Construction Progress March 2012 Tank base concentrate handling area Tailings thickener formworks Plant site overview Equipment on site TSF crusher lay down area Unloading of ball mill shipment enroute to site 18

19. Slide 19: Culture of Sustainability & Community Engagement

    Culture of Sustainability & Community Engagement Delivering long term sustainable benefits to local communities  Commitment to sustainability beyond life of mine is a key objective  >20 years community and environmental track record in New Zealand  Actively delivering health, environmental, socia

20. Slide 20: Social Development & Management Plan (SDMP)

    Social Development & Management Plan (SDMP)  Mandated under the Mining Act and our FTAA  1.5% of operating costs to the SDMP  Projects, in health, education, infrastructure, public safety, livelihood, environment, sport and culture.  Approximately US$1.5 million per year  Agreed with local gove

21. Slide 21: Didipio Community Development Corporation

    Didipio Community Development Corporation  Didipio Community Development Corporation (Dicorp) shareholders are long-term residents of Didipio.  Dicorp modelled on similar community corporations in Papua New Guinea and northern Canada.  2 contracts awarded already for a waste collection service, a

22. Slide 22: Corporate Overview

    Corporate Overview Financial Overview (As at 31 Dec 2011) US$m Cash 170 Convertible Bonds* (164) A$53M 5.75% Dec 2012 (conversion price A$4.10/share) (57) A$110M 7.0% Dec 2013 (conversion price A$3.87 to A$4.06/share) (107) Capital leases & other loans (62) Net (Debt) (56) Cash Flows FY 2011 US$m Op

23. Slide 23: Financial Summary

    Financial Summary Year Ended 31 December 2011 2010 2009 Statement of Operations Revenue US$m 395.6 305.6 237.1 EBITDA1 US$m 163.9 139.5 106.2 Operating profit / (Loss)1 US$m 78.5 71.8 40.4 Net Earnings / (Loss) US$m 44.2 44.4 54.5 Operations snapshot Gold Produced oz 252,499 268,602 300,044 Average

24. Slide 24: Pro forma net cash flow per ounce sold

    Pro forma net cash flow per ounce sold Per ounce Au sold Q4 2011 Q3 2011 Q2 2011 Q1 2011 FY2011 FY2010 Average Gold Price Rec’d $1,705 $1,706 $1,546 $1,401 $1,587 $1,140 Cash Cost reported $8902 $956 $921 $687 $8751 $570 Pre strip cash expenditure $121 $147 $165 $256 $172 $234 capitalised to Balance

25. Slide 25: EV/Reserve Multiples

    EV/Reserve Multiples EV/Reserve Au EV/Reserve Au-Eq 2,000 2,000 1,500 1,500 US$/oz US$/oz 1,000 1,000 Average: Average: US$616/oz US$604/oz 500 500 - - B2Gold B2Gold CGA CGA Kingsgate Aura Kingsgate Aura Alamos St Barbara OceanaGold Allied Alamos St Barbara OceanaGold Allied Regis AuRico Regis AuRic

26. Slide 26: EV/EBITDA Multiples

    EV/EBITDA Multiples EV/EBITDA (2012) EV/EBITDA (2013) EV/EBITDA (2014) B2Gold 9.2x Alamos 6.9x B2Gold 7.4x Medusa 8.7x B2Gold 5.8x Alamos 7.2x Alamos 7.8x SEMAFO 5.7x SEMAFO 5.9x Regis 7.5x Medusa 5.5x Regis 5.0x SEMAFO 6.8x Regis 4.9x Medusa 4.8x CGA 6.4x Kingsgate 3.4x AuRico 3.9x Kingsgate 4.4x A

27. Slide 27: Building the Growth Pipeline

    Building the Growth Pipeline Operations  Solid New Zealand operations with strong leverage to gold price  Extending mine life in New Zealand, now 7 - 8 years with solid operating margins Development  Didipio Project construction commenced June 2011  On schedule to commission in Q4 2012 = High ma

28. Slide 28: OceanaGold: Innovation, Performance & Growth

    Qy OCEANAGOLD INNOVATION, PERFORMANCE & GROWTH

29. Slide 29: Experienced Management Team

    Experienced Management Team Mick Wilkes MD & Chief Executive Officer Martyn Creaney Project Director Philippines • 27 years industry experience • >30 years construction and project management • Developed major projects in Australia and SE Asia mainly in mining industry • Strong Operations background

30. Slide 30: Board of Directors

    Board of Directors Jim Askew (Chairman) - Mining engineer with over 30 years broad international experience as a Director/CEO for a wide range of international publicly listed mining, mining finance, and other mining related companies. He has served on the board of numerous resource public companies

31. Slide 31: Didipio Construction Progress Q3 2011

    Didipio Construction Progress Q3 2011 July: Earthworks at process plant pad August: Roadside gabion work September: View of mine area August: Ball mill shells being transferred from July: Operations village site preparation Singapore to Manila September: Construction office fit out 31

32. Slide 32: Didipio Construction Progress Q4 2011

    Didipio Construction Progress Q4 2011 October: Construction camp overflow site November: Arrival of batch plant December: Power station earthworks October: Donation of food relief post typhoons November: Concrete pad access road December: TSF crusher screening pad 32

33. Slide 33: Didipio Site Visit Dec 2011

    Didipio Site Visit Dec 2011 President of DiCorp and Didipio Barangay View of process plant site Captain participated at site visit Project Manager explains plant & mill layout Mill site concrete storage shed Operations village Overview of the future TSF site 33

34. Slide 34: Mineral Resources and Reserves

    Mineral Resources and Reserves RESOURCE MEASURED INDICATED MEASURED & INDICATED INFERRED RESOURCE Au Au Au Au AREA Mt Au g/t Cu % Cu Mt Mt Au g/t Cu % Cu Mt Mt Au g/t Cu % Cu Mt Mt Au g/t Cu % Cu Mt Moz Moz Moz Moz MACRAES TOTAL 26.29 1.41 1.19 . . 76.76 1.10 2.71 . 103.04 1.18 3.90 . . 49.4 1.2 1.8

35. Slide 35: A closer look at cash costs 2011 vs 2010

    A closer look at cash costs 2011 vs 2010 Cash Cost (US$/oz) Analysis 1200 1000 54 76 800 87 88 600 400 875 570 200 0 FY2010 FX Capitalised Input Costs Ounces FY2011 mining costs & other dif f erence  Reported cash cost in 2011 increased to $875 per ounce  Strengthening of NZD vs USD during 2011 ($

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