Slide 1: Q4 and Year End 2023 Operating and Financial Results
Q4 AND YEAR END 2023 OPERATING AND FINANCIAL RESULTS February 22, 2024 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: 2023 Achievements
2023 ACHIEVEMENTS Objective: to increase and sustain a higher value for OceanaGold shares • Delivered on 2023 consolidated production guidance • TRIFR of 4.4 per million hours worked (0.9 per 200,000 hours worked) • Provided 3 year outlook with ~30%1 production growth from 2023 to 2026, at a declini
Slide 4: 2023 Guidance Summary
2023 GUIDANCE SUMMARY Achieved production guidance for third consecutive year Original Guidance Revised Guidance1 Result February 2023 October 2023 477 460 - 510 460 - 480 Gold Production (koz) 14.2 12-14 12-14 Copper Production (kt) $1,587 $1,425 - 1,525 $1,550 - 1,650 AISC3 ($/ounce) $353M $330 -
Slide 5: Three Year Outlook
Three Year Outlook Increasing production and reducing AISC Gold Production & AISC2 Growth Capital ($M) 1,587 1,475 – 1,600 1,425 – 1,575 1,250 – 1,400 Unapproved capital to develop 63 projects in the study phase 50 - 65 620 - 680 540 – 600 510 – 570 477 20 - 40 20 - 40 1 1 1 1 1 1 2023 2024E 2025E 2
Slide 6: 2023 Financial Results
2023 FINANCIAL RESULTS ANNUAL FINANCIAL METRICS STRONG FINANCIAL POSITION • Record annual revenue of $1.0B • Full year 2023 adjusted EBITDA of $410M, a ~40% margin • Full year Free Cash Flow1,3 of $42.4M, after growth capital • Operating CFPS3 of $0.56 for the year • Adjusted EPS2,3 of $0.16 for the
Slide 7: 2024 Guidance
2024 GUIDANCE Production increases through the year and AISC decreases quarter over quarter 2 2 2 2 2 1. Based on the mid-point of production guidance. See Q4 2023 MD&A for more information 7 2. Non-IFRS financial measures. See “Non-IFRS Financial Information” in the Q4 2023 MD&A dated February 21,
Slide 8: Haile Benefits from Underground Ore
HAILE BENEFITS FROM UNDERGROUND ORE • Horseshoe underground ramping up according to plan • Q4 performance included higher grades at Horseshoe UG • Q4 mill feed included 78 kt at 5.55 g/t from Horseshoe Underground • Processing of stockpile impacted Q4 AISC, expected to continue in Q1 2024 • Open pit
Slide 9: Haile Expansion Update
HAILE EXPANSION UPDATE Horseshoe Underground Delivering Ore to the Mill • Mined 83 kt of ore at 5.32 g/t during the year • Development rates averaging 350 m/month • Commenced cemented rock fill backfilling first stopes • Ramp-up to mining rate of 750 ktpa by mid-2024 • Continued focus on infill and
Slide 10: Didipio Exceeds Production Guidance
DIDIPIO EXCEEDS PRODUCTION GUIDANCE • Exceeded top end of increased production guidance • Strong Q4 gold and copper production • Expedited crown pillar project provided access to higher grade stopes in Q4 • UG optimization work suggests potential for 2.5 mtpa from UG (vs. 1.73 mtpa in 2023) • Increa
Slide 11: Macraes Meets Production Guidance
MACRAES MEETS PRODUCTION GUIDANCE • Gold production at higher end of increased guidance, AISC below guidance • Strong mill performance averaging 18,000 tpd in Q4 • Round Hill open pit removed from reserves due to risk and insufficient economic return • 2024 focused on identifying potential additiona
Slide 12: Waihi Stronger 2024 Expected
WAIHI STRONGER 2024 EXPECTED • Q4 gold production rebounded from Q3 due to higher grades mined • 2023 production heavily impacted from rainfall in H1 and access to higher grade mining areas • Increase in Measured and Indicated resources at Martha underground • 2024 production benefits from increased
Slide 13: Waihi North Project Update
WAIHI NORTH PROJECT UPDATE Resource Update1 • Increase in Indicated Resources to 1.01 Moz at 15.9 g/t gold ◦ Additional drilling targeting inferred conversion and resource growth in 2024 Project Consenting Progressing New Zealand Government • New Government in New Zealand have made statements in sup
Slide 14: 2023 Reserve & Resource Summary
2023 Reserve & Resource Summary Resource additions at Haile, Waihi, Didipio and Wharekirauponga 14
Slide 15: Investing in Exploration
INVESTING IN EXPLORATION HAILE: $7M - $9M • 32,000 metres planned in 2024 ◦ Drilling Ledbetter Phase 4 to support underground mining ◦ Testing down-dip extension of Horseshoe ◦ Testing Palomino NE extension ◦ Testing early stage targets DIDIPIO: $3M - $5M • 31,000 metres planned in 2024 ◦ Ongoing co
Slide 16: Management Update
MANAGEMENT UPDATE Appointment of new Chief Technical and Projects Officer Bhuvanesh Malhotra Chief Technical and Projects Officer (effective January 22, 2024) 16
Slide 17: Continuing to Deliver on Our Strategy
CONTINUING TO DELIVER ON OUR STRATEGY To increase and sustain a higher value for OceanaGold shares Increase higher-grade underground ore feed at Haile & Didipio Advance the Waihi North Project Progress asset management and procurement initiatives to further increase Free Cash Flow 1 from all operati
Slide 18: Technical Disclosures
TECHNICAL DISCLOSURES Qualified Persons Except as otherwise stated herein, David Londono, Executive Vice President, Chief Operating Officer Americas and Peter Sharpe, Executive Vice President, Chief Operating Officer Asia-Pacific, qualified persons under NI 43-101, have reviewed and approved the dis
Slide 19: Contact Details
400 Burrard Street #1020 Vancouver, British Columbia V6C 3A6 Canada T: +1 604 678-4123 ir@oceanagold.com oceanagold.com