Oceanagold Corporation · TSX:OGC
Oceanagold — Investor Presentation (February 2026)
36 slides from Oceanagold's investor presentation, February 2026
Slide 1: Performance, Growth, Returns
Performance, Growth, Returns February 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 4 operating mines safely and responsibly Total gold Reserves maximizing the generation of 35+ years in attractive of 5.8 Moz1 of exploration, development Free Cash Flow jurisdictions from our operations and and
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
Slide 5: Diversified Portfolio
Diversified Portfolio Four operating assets producing GOLD & COPPER with significant organic growth opportunities 2026 Guidance 520 – 590 koz 13 – 15 kt $1,750 - $1,900 GOLD PRODUCTION COPPER PRODUCTION AISC2 HEAD DIDIPIO OFFICE Philippines 17% Vancouver, Canada 85 - 105 koz MACRAES 26% HAILE New Ze
Slide 6: 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 7: 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, Responsibly A Caring, Inclusive Increase Reserves & Deliver Financial Premium Rating with & Reliably Deliver and Winning Deliver New Resources Strength and the Investment G
Slide 8: Safely, Responsibly & Reliably Deliver Gold Production
1 Safely, Responsibly & Reliably Deliver Gold Production 600 590 550 Organic, low-risk, Gold Production (koz) production growth 498 520 500 489 450 2026 production growth is driven by Haile 400 350 2024 Actual 2025 Actual 2026 Guidance1 1. See Q4 2025 MD&A for further details. Guidance is subject to
Slide 9: 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 10: Sustainability is Central to Business Performance
27% of short-term High importance on delivering incentive KPIs are results in a responsible way sustainability related 10% Sustainability is 17% 2026 Corporate 40% Central to Business Safety of the workforce, care for Scorecard & KPI Breakdown the environment, positive 6% Performance relationships w
Slide 11: A Caring, Inclusive and Winning Culture
2 A Caring, Inclusive and Winning Culture Culture survey achieved strong employee engagement scores Strength in technical expertise and across our business Focused on creating an inclusive and respectful workplace experience for our workforce Living Our Values program celebrates outstanding role mod
Slide 12: Increase Resources & Reserves Cost Effectively
3 Increase Resources & Reserves Cost Effectively Record exploration spend planned for 2026 2026 Priorities $60M Conversion of Resources to Reserves $40M Brownfield exploration to grow Resources New greenfield opportunities & earn-ins 2025A 2026E1 Didipio Waihi District Macraes Haile 1. Totals may no
Slide 13: Key Catalysts
EXPECTED PROJECT CATALYST TIMING 1 Ledbetter UG & updated Technical Report March 2026 mine plan (NI 43-101) HAILE Palomino Underground First Ore 2028 Mine life extension to Technical Report 2032 (NI 43-101) March 2026 MACRAES Further mine life extension Future study Key Catalysts Waihi North Project
Slide 14: Deliver Financial Strength and Returns
4 Deliver Financial Strength and Returns 477 Robust financial position Adding Cash to the Balance Sheet 192 Net Cash (debt) ($M)1 No debt (77) (170) Increasing 2022 2023 2024 2025 shareholder returns Returning Capital up to 432 Tripled annual to Shareholders dividend for 2026 Dividends ($M) ($0.36 p
Slide 15: A Focus on Per Share Metrics
A Focus on Per Share Metrics Production (oz/‘000 share) Operating Cash Flow1 ($/share) Strong per share metrics 2.0 2.0 2.0 2.2 3.96 1.5 2.48 1.62 1.69 Free Cash Flow powered by 1.11 strong production and high gold price environment 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025 No gold hedges, p
Slide 16: Delivering Strong Returns on Capital
Delivering Strong Returns on Capital Generated $543M of Free Cash Flow1 in 2025 Free Cash Flow Yield2 Return on Capital Employed3 15% 18% 14% 9% 7% 6% 4% 3% 2022 2023 2024 2025 2022 2023 2024 2025 1. Non-IFRS measure. See “Cautionary Notes Regarding Non-IFRS Measures” in this presentation. 2. Calcul
Slide 17: Shareholder Focused Capital Allocation
Shareholder Focused Capital Allocation 2026 Illustrative1 2025 Actual Sustaining2 $305M Sustaining2 $336M Growth $280M Buybacks & Growth Buybacks & Dividends $94M Dividends +112% $432M $203M Cash Build Dividends 3x $285M Share Buybacks 2x Cash Build1 (gold price dependent) Exploration $40M Explorati
Slide 18: A Premium Rating with the Investment Community
5 A Premium Rating with the Investment Community 2 0 2 6 E F C F Yi e l d 1 P/ N AV 2 2 0 2 6 E EV E B I T DA 3 CDE 17.5% LUG 1.62x LUG 10.7x Independent Chair TXG 15.0% CDE 1.60x EVN 8.8x and strong technical EDV 14.4% EVN 1.51x AGI 8.8x Directors RRL 14.4% PAAS 1.22x PAAS 8.6x IMG 13.3% K 1.17x NS
Slide 19: Investment Thesis
Global 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 and Free Cash F
Slide 20: Haile: Growth in the USA
HAILE HAILE Growth in the USA OVERVIEW Location South Carolina, USA ~45% Metals Gold of OGC’s Annual Mine Type Production2 Open Pit & Underground Processing Type Carbon-in-leach flotation plant Mine Life1 2026 Guidance 2036+ 235 - 260 koz $1,500 - $1,700/oz GOLD PRODUCTION AISC 1. See news release t
Slide 21: Haile Exploration
Exploration HAILE Multi-million ounce mine Mines & Prospects Strategic with further upside potential OGC Tenements Position Only gold producer in under-explored Resource Areas gold district Target Areas Continue exploration with focus on underground Leverage growing knowledge of deposit- scale contr
Slide 22: Macraes: The foundation asset
MACRAES MACRAES The foundation asset OVERVIEW Location South Island, New Zealand ~26% Metals Gold of OGC’s Annual Mine Type Production2 Open Pit & Underground Processing Type Carbon-in-leach, Pressure oxidation Mine Life1 2026 Guidance 2032 135 - 155 koz $1,950 - $2,150/oz GOLD PRODUCTION AISC 1. Se
Slide 23: Macraes Exploration
MACRAES Exploration 5 Moz produced from 11 deposits Strategic 30 km highly mineralized structure Position Mines & Prospects Large >14,000 ha prospective land OGC Tenements holding Resource Areas Macraes Shear Zone Significant ounce potential with leverage to higher gold prices Opportunity Next-gener
Slide 24: Waihi: The gateway to Wharekirauponga
WAIHI WAIHI The gateway to Wharekirauponga OVERVIEW Location North Island, New Zealand ~12% Metals Gold, Silver of OGC’s Annual Mine Type Production2 Underground Processing Type Carbon-in-pulp Mine Life1 2026 Guidance 2038+ (MUG+WUG) 60 - 75 koz $2,100 - $2,300/oz GOLD PRODUCTION AISC 1. Based on th
Slide 25: 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 26: Fully permitted to develop & operate the Waihi North Project
Fully permitted to develop & operate the Waihi North Project WAIHI - 1845000mE - 1850000mE 8 Moz high-grade epithermal district1 1.2Moz of Reserves2, 800koz of Inferred2 at Wharekirauponga Strategic Wharekirauponga with strong growth Underground potential Position Mines & Prospects Large land holdin
Slide 27: Didipio
Didipio DIDIPIO A strong Free Cash Flow generator with upside OVERVIEW Location Luzon Island, Philippines Metals Gold & Copper ~17% Ownership of OGC’s Annual 80% OceanaGold, 20% PSE Listed Production2 Mine Type Stockpile & Underground Processing Type Gravity, Flotation 2026 Guidance Mine Life1 2035+
Slide 28: Didipio Exploration
Exploration DIDIPIO HAILE High-margin Copper-Gold porphry Strategic Multi-million-ounce deposit with large and Position prospective land holding Mines Prospects OGC Tenements Intrusive Rock Continued growth through Resource conversion at depth Regional discovery potential across the FTAA Opportunity
Slide 29: Global Greenfields Exploration
Global Greenfields Exploration Targeting new greenfields exploration and earn-in opportunities Headwater Gold Carolina Rush Regional Targets Nevada, USA South Carolina, USA New Zealand & The Philippines TJ, Jake Creek & Hot Brewer Gold-Copper Project New Zealand Creek Projects • 2026: Initial drilli
Slide 30: Appendix
4) OCEANAGOLD Appendix
Slide 31: Capital Structure
Capital Structure Capitalization1 Top Shareholders2 Analyst Coverage TSX / OTCQX OGC / OCANF BMO Capital Markets Brian Quast Issued and Outstanding Shares1: 225M Canaccord Genuity Jeremy Hoy Fully Diluted Shares1: 228M CIBC World Markets Cosmos Chiu Current Share Price (CAD)2: $52.15 Cormark Securit
Slide 32: Board of Directors
PAUL GERARD LINDA SANDRA BENSON BOND BROUGHTON DODDS Chair 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
Slide 33: Proven and Probable Reserves
Proven and Probable Reserves As at December 31, 2025 Proven Probable Proven & Probable Contained Tonnes Contained Tonnes Contained Tonnes (Mt) Au (g/t) Au (g/t) Au (g/t) Cut-off grade Ozs (Moz) (Mt) Ozs (Moz) (Mt) Ozs (Moz) Horseshoe Underground 1.52 4.39 0.21 2.63 4.24 0.36 4.14 4.29 0.57 1.86 g/t
Slide 34: Measured, Indicated & Inferred Resources
Measured, Indicated & Inferred Resources As at December 31, 2025 Measured Indicated Measured & Indicated Inferred Contained Contained Contained Contained Tonnes (Mt) Au (g/t) Tonnes (Mt) Au (g/t) Tonnes (Mt) Au (g/t) Tonnes (Mt) Au (g/t) Cut-off grade Ozs (Moz) Ozs (Moz) Ozs (Moz) Ozs (Moz) Horsesho
Slide 35: Technical Disclosure
Technical Disclosure Notes to Mineral Reserves and Mineral Resources Estimates All Mineral Reserves and Mineral Resources were estimated as of December 31, 2025 and have been prepared in accordance with NI 43-101. Mineral Reserves and Mineral Resources estimates are reported on a 100% basis. OceanaG
Slide 36: Investor Relations Contacts
BRIAN MARTIN SVP, Business Development & Investor Relations REBECCA HENARE 400 Burrard Street #1020 Vice President, Investor Vancouver, British Columbia Relations V6C 3B7 Canada +1 604 678 4123 VALERIE BURNS ir@oceanagold.com Manager, Investor Relations oceanagold.com