Slide 1: Q4 and FY 2022 Financial and Operating Results
Q4 AND FY 2022 FINANCIAL AND OPERATING RESULTS February 21, 2023 CARE | RESPECT | INTEGRITY PERFORMANCE | TEAMWORK
Slide 2: Cautionary Statements
CAUTIONARY STATEMENTS 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, sec
Slide 3: 2022 Achievements
2022 ACHIEVEMENTS Corporate objective: To increase and sustain a higher value for OceanaGold’s shares Safely and •Reduced injury rates to Company record and industry leading levels (TRIFR of 2.3 per million hours) responsibly deliver •Delivered on 2022 production guidance gold production •Provided 3
Slide 4: Three-Year Outlook
THREE-YEAR OUTLOOK Increasing production and reducing AISC per ounce, lower capex in 2024/25 PRODUCTION AND AISC GROWTH CAPITAL & EXPLORATION EXPENDITURES 1,425 – 1,525 1,407 1,300 – 1,450 1,100 – 1,250 580 - 630 550 – 600 472 460 - 510 90 - 110 86 14 12 – 14 12 – 14 12 – 14 40 - 60 40 - 60 1 1 1 20
Slide 5: 2022 at a Glance
2022 AT A GLANCE Safely achieved guidance and delivered strong free cash flow 2.3 TRIFR 472,201 oz Adjusted EPS (12 MMA) gold production $0.21 Per million hours worked 120,918 oz in Q4 $0.04 in Q4 $1,407/oz $58 million $68 million AISC free cash flow3 reduction in net debt1 $1,602 / oz in Q4 $3 mill
Slide 6: Financial Results Overview
FINANCIAL RESULTS OVERVIEW Q4 2022 Q4 2021 2022 2021 REDUCTION IN NET YEAR-OVER-YEAR DEBT1 HIGHLIGHTS PROFITABILITY OVERVIEW -32% YoY Revenue -43% YoY US$M 238 209 967 745 EBITDA US$M 109 89 382 330 NPAT US$M 41 (96) 133 (4) Adj. Net Profit(1) US$M 30 31 148 148 Adj. EPS $/share 0.04 0.04 0.21 0.21
Slide 7: Stronger Balance Sheet
STRONGER BALANCE SHEET Underpins growth and future shareholder returns REDUCTION IN NET DEBT1 DECREASED LEVERAGE RATIO2 -28% YoY -38% YoY $238m 0.72x $170m 0.45x 31-Dec-21 31-Dec-22 31-Dec-21 31-Dec-22 1. Net debt has been calculated as total interest-bearing loans and liabilities, inclusive of fina
Slide 8: 2023 Guidance
2023 GUIDANCE 2023 PRODUCTION & COST GUIDANCE3 HAILE DIDIPIO WAIHI MACRAES CONSOLIDATED GOLD PRODUCTION koz 170 - 185 120 – 130 50 - 60 120 – 135 460 – 510 COPPER PRODUCTION kt - 12 – 14 - - 12 – 14 ALL IN-SUSTAINING COSTS1 $/oz 1,500 – 1,600 750 - 850 1,400 – 1,500 1,625 – 1,725 1,425 – 1,5251 2023
Slide 9: Haile Exceeded Production Guidance
HAILE EXCEEDED PRODUCTION GUIDANCE Continues to improve performance • TRIFR decreased 33% YoY from 2.7 to 1.8 • Received Haile SEIS Final Record of Decision and Mine Operating Permit • Improved mining and milling performance • Focus on Palomino / Horseshoe underground exploration drilling in 2023 •
Slide 10: Haile Expansion Update
HAILE EXPANSION UPDATE Final Record of Decision and permits received in Q4 2022 • Enables future increase in gold production and lower unit costs UG development progressing safely • Main production decline currently at ~400 m • Exhaust and intake ventilation also in progress (~550 m combined) • Firs
Slide 11: Didipio Meets Full-Year Guidance
DIDIPIO MEETS FULL-YEAR GUIDANCE Continues to generate strong margins • 2022 TRIFR of 0.7, a record low for the operation • Operational ramp up completed ahead of schedule in Q2 2022 • Received permit to increase processing rate to 4.3Mtpa • Discovered two new near-mine mineralized structures adjace
Slide 12: Community Relations at Didipio
COMMUNITY RELATIONS AT DIDIPIO Strengthened relationships with all stakeholders Principal office relocated to Didipio mine • Ensuring local business tax payments benefit local governments and communities Together with local leaders and regulators, implementing various community projects under differ
Slide 13: Macraes Delivered a Strong Q4
MACRAES DELIVERED A STRONG Q4 Optimization study underway to increase UG mining rates • TRIFR decreased 35% YoY from 7.2 to 5.2 • Gold production increased 10% YoY and 35% QoQ, met revised AISC guidance • UG mining expected to fully transition from FRUG to GPUG in Q2 2023 • 2023 guidance: 120 – 135
Slide 14: Waihi Met Revised Production Guidance
WAIHI MET REVISED PRODUCTION GUIDANCE Further improvement expected in 2023 • TRIFR decreased 50% YoY from 6.2 to 3.1 • Significant improvement in H2 2022 due to improved grade control confidence in the UG • Optimization study underway to increase UG mining rates • 2023 exploration focus on resource
Slide 15: Wharekirauponga Open in Multiple Directions
WHAREKIRAUPONGA OPEN IN MULTIPLE DIRECTIONS Highly prospective deposit in multi-million-ounce district1,2,3 • Indicated Resource of 640koz Au ounces at 13.5g/t3 • Inferred Resource of 700koz Au ounces at 9.5g/t3 OPEN • 8,850 metres of drilling planned in 2023 OPEN • Aiming to increase Indicated Reso
Slide 16: Haile Underground Potential
HAILE UNDERGROUND POTENTIAL Horseshoe and Palomino represent upside to current plan A A' Horseshoe Horseshoe Palomino3 0.52 Moz M&I @ 5.05 g/t Au1,2 Horseshoe Palomino 0.3 Moz Inferred @ 4.6 g/t Au2 0.20 Moz M&I @ 2.79 g/t Au2 Horseshoe Palomino 0.3 Moz Inferred @ 2.25 g/t Au2 Extension DDH1121 100.
Slide 17: Didipio Exploration Upside
DIDIPIO EXPLORATION UPSIDE Discovered two new mineralized structures within 200m of existing mine development1 17 1. See news release dated December 13, 2022 for more details.
Slide 18: Strengthened Management Team
STRENGTHENED MANAGEMENT TEAM Enhanced capability to drive value across the portfolio Michelle Du Plessis Megan Saussey Chief People & Technology Officer Chief Sustainability Officer (commencing March 1, 2023) (commenced December 5, 2022) 18 18
Slide 19: A Focus on Delivering Shareholder Value
A FOCUS ON DELIVERING SHAREHOLDER VALUE Key priorities achieved in 2022 which remain the goals in 2023 Safely and responsibly delivering production Execute on business plans and manage risk Optimize production and reduce costs to maximize FCF generation Investing in high-value growth and exploration
Slide 20: Technical Disclosure
TECHNICAL DISCLOSURE General All Mineral Reserves and Mineral Resources were calculated as of 31 December 2021 and have been calculated and prepared in accordance with the standards set out in accordance with National Instrument 43-101 of the Canadian Securities Administrators (“NI 43-101”). Compete
Slide 21: 400 Burrard Street #1020 Vancouver, British Columbia
400 Burrard Street #1020 Vancouver, British Columbia V6C 3B7 Canada T: +1 604 678-4123 ir@oceanagold.com oceanagold.com