OceanaGold (OGC) Corporate presentation summary

Strategic overview and operational highlights

• Operates four mines in the USA, New Zealand, and the Philippines, producing gold and copper with a focus on responsible, safe operations and maximizing Free Cash Flow and shareholder returns.

• Holds 5.8 Moz in gold reserves and 8.6 Moz in measured and indicated resources as of December 31, 2025.

• 2026 gold production guidance is 520–590 koz, with copper production of 13–15 kt and AISC of $1,750–$1,900/oz.

• 2026 production growth is driven primarily by the Haile mine in the USA.

• Life-of-mine extensions and new underground developments are underway at key assets, including Haile, Macraes, and Waihi.

Financial performance and capital allocation

• Generated $543M in Free Cash Flow in 2025, with a Free Cash Flow yield of 15% and Return on Capital Employed of 18%.

• Net cash position of $477M at year-end 2025, with no debt and a robust balance sheet.

• Tripled annual dividend to $0.36/share and doubled share buybacks for 2026, up to $350M.

• 2026 capital allocation includes $305M sustaining, $280M growth, $60M exploration, and significant cash build potential.

• Strong per-share metrics, with Free Cash Flow per share rising to $2.32 in 2025.

Growth, exploration, and resource expansion

• Record $40M exploration spend planned for 2026, up ~50% from 2025, targeting resource conversion, brownfield, and greenfield opportunities.

• Key catalysts include first ore from Palomino Underground (2028) and Ledbetter Underground (2029) at Haile, and ongoing Waihi North Project development.

• Waihi North Project fully permitted, with 1.2 Moz reserves and $621M after-tax NPV at $2,400/oz gold price.

• Didipio mine continues to generate strong Free Cash Flow, with ongoing resource conversion and regional exploration.

• Global greenfields exploration includes earn-in agreements in Nevada and South Carolina, and follow-up on targets in New Zealand and the Philippines.