OceanaGold Reports Record Quarterly Net Profit

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# Q2

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## Content

# Q2
August 6, 2025 News Release
OceanaGold Reports Record Quarterly Net Profit
(All financial figures in United States dollars unless otherwise stated)
• Produced 119,500 ounces of gold and on track to deliver full year guidance
• Record quarterly net profit of $118 million and record Adjusted EPS† of $0.51
• Free Cash Flow† of $120 million with $299 million of cash and no debt
(VANCOUVER, BC) OceanaGold Corporation (TSX: OGC; OTCQX: OCANF) ("OceanaGold" or the
“Company”) reported its operational and financial results for the three and six months ended June 30,
2025. The condensed interim consolidated financial statements and Management's Discussion and
Analysis (“MD&A”) are available at www.oceanagold.com.
Second Quarter Highlights
• On track to deliver full year production, cost and capital guidance.
• Safely and responsibly produced 119,500 ounces of gold and 3,700 tonnes of copper.
• All-In Sustaining Cost (“AISC”)† of $2,027 per ounce in the quarter, resulting in $1,915 year
to date, at the low-end of guidance range.
• Record quarterly revenue of $432 million supported by record average realized gold price of
$3,293 per ounce, with no hedges or prepays.
• Record quarterly net profit of $118 million, record EPS of $0.49 and Adjusted EPS† of $0.51.
• EBITDA Margin† of 50% and Operating Cash Flow Per Share† of $0.99.
• Generated strong Free Cash Flow† of $120 million and $189 million year to date, resulting in a
trailing 12 month Free Cash Flow† yield1 of 18%.
• Cash balance increased by 31% to $299 million from the prior quarter, enhancing an already
strong balance sheet with no debt.
• Repurchased $21 million in common shares during the quarter and $41 million year to date
under the share buyback program. On track to buyback up to $100 million of shares in 2025.
• Declared a $0.03 per share quarterly dividend, payable in September 2025.
• Completed a 3-for-1 share consolidation in preparation for a planned listing on the New York
Stock Exchange in the first half of 2026.
• Released new drill results at Wharekirauponga extending the strike length, continuing to
demonstrate its upside potential.
† See “Non-IFRS Financial Information”
1 Calculated as trailing 12 month Free Cash Flow† over the average trailing 12 month market capitalization in USD.
1
Gerard Bond, President and CEO of OceanaGold, said: “We are pleased to have had another safe,
responsible and strong quarter, with us being on track to deliver full year production, cost and capital
guidance. Our production and cost performance, together with being a fully unhedged gold producer with
no prepays, drove record quarterly net profit and earnings per share, and delivered strong Free Cash
Flow. With no debt and a strengthening cash balance, our exceptional financial position continues to
provide us the flexibility to invest in our exciting organic growth opportunities and deliver enhanced
shareholder returns via dividends and our recently renewed and expanded share buyback program.
Looking ahead, open pit waste stripping is advancing as planned at Haile in Ledbetter Phase 3 and at
Macraes in Innes Mills Phase 8, setting us up for a strong fourth quarter and 2026 as we gain access to
higher grade ore at our two largest sites. Permitting of our Waihi North Project, which includes the high-
grade Wharekirauponga underground, is progressing and we continue to expect approval by year end.
Building on the success at Wharekirauponga, where we recently announced an extension of the strike
length, exploration is ongoing on promising targets at all sites as we remain focused on unlocking
additional value for shareholders."
Share Buyback and Dividend
In the first half of 2025, the Company repurchased 3.9 million common shares for consideration of
$40.6 million. The Board approved in February 2025 the repurchase in 2025 of up to $100 million of
common shares under the Company's NCIB ("Normal Course Issuer Bid") program announced in July
2024. The NCIB was recently extended for another 12 months and upsized to be for up to 10% of issued
capital.
OceanaGold has declared a $0.03 per share dividend payable in September 2025. Shareholders of
record at the close of business in each jurisdiction on August 20, 2025 (the "Record Date") will be entitled
to receive payment of the dividend on September 19, 2025. The dividend payment applies to holders of
record of the Company's common shares traded on the Toronto Stock Exchange.
Declaration of Dividend Wednesday, August 6, 2025
Record Date Wednesday, August 20, 2025
Dividend Payment Date Friday, September 19, 2025
Dividends are payable in United States dollars. Shareholders in other jurisdictions can elect to participate
in Computershare’s international payments service if they want to receive dividends in an alternative
currency. This dividend qualifies as an ‘eligible dividend’ for Canadian income tax purposes.
† See “Non-IFRS Financial Information”
2
Results Overview
Q2 2025 Q1 2025 Q2 2024 YTD 2025 YTD 2024
Gold Produced1
Haile koz 47.7 51.6 37.8 99.3 72.5
Didipio koz 24.5 20.6 23.1 45.1 49.4
Macraes koz 30.0 28.4 26.9 58.4 59.2
Waihi koz 17.3 16.8 10.4 34.1 21.9
Total gold produced1 koz 119.5 117.4 98.2 236.9 203.0
Gold Sales
Haile koz 49.5 57.2 39.8 106.7 81.0
Didipio koz 20.6 17.8 18.9 38.4 50.7
Macraes koz 34.8 23.7 26.5 58.5 58.7
Waihi koz 16.4 15.9 10.6 32.3 22.2
Total Gold sales koz 121.3 114.6 95.8 235.9 212.6
Average Gold Price $/oz 3,293 2,858 2,385 3,082 2,224
1
Copper Produced - Didipio kt 3.7 3.4 2.8 7.1 5.8
Copper Sales - Didipio kt 3.0 3.2 2.2 6.2 5.4
Average Copper Price $/lb 4.36 4.27 4.58 4.32 4.18
Cash Costs†
Haile $/oz 997 715 1,351 846 1,462
Didipio $/oz 873 871 874 872 791
Macraes $/oz 1,496 1,369 1,085 1,444 1,047
Waihi $/oz 1,670 1,445 1,635 1,559 1,617
Consolidated Cash Costs† $/oz 1,210 976 1,213 1,096 1,203
†
AISC
Haile $/oz 1,890 1,551 2,008 1,708 1,998
Didipio $/oz 1,287 1,130 1,250 1,214 1,059
Macraes $/oz 2,146 2,313 2,319 2,213 2,041
Waihi $/oz 2,190 2,019 2,434 2,106 2,418
†
Consolidated AISC $/oz 2,027 1,796 2,131 1,915 1,963
Free Cash Flow† $M 120.1 68.8 31.2 188.9 33.0
Net profit $M 117.6 101.2 34.0 218.8 28.7
Adjusted net profit† $M 120.0 102.2 30.6 222.2 34.3
†
EBITDA $M 217.1 192.0 112.4 409.1 184.3
Adjusted EBITDA† $M 219.5 193.0 109.0 412.5 189.9
2
Earnings per share - basic $/share $0.49 $0.43 $0.13 $0.92 $0.11
†2
Adjusted earnings per share - diluted $/share $0.51 $0.43 $0.13 $0.94 $0.14
Operating Cash Flow per share - diluted† $/share $0.99 $0.83 $0.41 $1.82 $0.73
†
Free Cash Flow per share-diluted $/share $0.51 $0.29 $0.13 $0.80 $0.14
1 Production is reported on a 100% basis as all operations are controlled by OceanaGold.
2 Attributable to the shareholders of the Company.
† See “Non-IFRS Financial Information”
3
Management Update
The Company is pleased to announce that Mr. Keenan Jennings has been appointed Chief Exploration
Officer effective September 29, 2025. Mr. Jennings will replace Craig Feebrey who is retiring after 10
years with OceanaGold. Mr. Jennings brings over 35 years of global experience in mineral exploration
and executive leadership, having held senior roles at BHP, Rio Tinto, and Anglo American.
The Company also announces that Peter Sharpe, Chief Operating Officer-Asia Pacific, is leaving
OceanaGold to pursue other opportunities outside the gold industry. His last day with the Company will be
October 24, 2025. Bhuvanesh Malhotra, current Chief Technical and Project Officer, will become Chief
Operating Officer for all operations from September 26, 2025. Mr. Malhotra has been with the Company
since early 2024 and has over 25 years of experience in operational and technical roles across multiple
commodities and mining methods, driving safety performance, operational excellence and sustainable
transformational change.
The Company thanks Mr. Feebrey and Mr. Sharpe for their tremendous contributions to OceanaGold and
wishes them both well in the future.
Conference Call and Webcast:
Senior management will host a conference call and webcast to discuss the quarterly results on Thursday,
August 7, 2025 at 10:00 am EST (7:00 am PST). To participate in the conference call, please use one of
the following methods:
Webcast: https://app.webinar.net/Pop3el0eA1a
Toll-free North America: +1 888-510-2154
International: +1 437-900-0527
If you are unable to attend the call, a recording will be made available on the Company's website.
About OceanaGold
OceanaGold is a growing intermediate gold and copper producer committed to safely and responsibly
maximizing the generation of Free Cash Flow from our operations and delivering strong returns for our
shareholders. We have a portfolio of four operating mines: the Haile Gold Mine in the United States of
America; Didipio Mine in the Philippines; and the Macraes and Waihi operations in New Zealand.
For further information please contact:
Investor Relations:
Haley Mayers, Vice President, Investor Relations
Tel: +1 604-678-4097
ir@oceanagold.com
Valerie Burns, Manager, Investor Relations
Tel: +1 604-235-0742
ir@oceanagold.com
Media Relations:
Louise Burgess, Director, Communications
Tel: +1 604-403-2019
info@oceanagold.com
† See “Non-IFRS Financial Information”
4
Cautionary Statement for Public Release
This public release 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 is not limited to, statements with respect to the future financial and
operating performance of the Company, its mining projects, the future price of gold, the estimation of
mineral reserves and mineral resources, the realization of mineral reserve and resource estimates, costs
of production, estimates of initial capital, sustaining capital, operating and exploration expenditures, costs
and timing of the development of new deposits, costs and timing of the development of new mines, costs
and timing of future exploration and drilling programs, timing of filing of updated technical information,
anticipated production amounts, requirements for additional capital, governmental regulation of mining
operations and exploration operations, timing and receipt of approvals, consents and permits under
applicable legislation, environmental risks, title disputes or claims, limitations of insurance coverage and
the timing and possible outcome of pending litigation and regulatory matters. All statements in this public
release that address events or developments that we expect to occur in the future are forward-looking
statements. Forward-looking statements are statements that are not historical facts and are generally,
although not always, identified by words such as “may”, “plans”, “expects”, “projects”, “is expected”,
“scheduled”, “potential”, “estimates”, “forecasts”, “intends”, “targets”, “aims”, “anticipates” or “believes” or
variations (including negative variations) of such words and phrases, or may be identified by statements
to the effect that certain actions, events or results “may”, “could”, “would”, “should”, “might” or “will” be
taken, occur or be achieved.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied by the forward-looking statements.
Such risks include, among others: future prices of gold; general business; economic and market factors
(including changes in global, national or regional financial, credit, currency or securities markets);
changes or developments in global, national or regional political a

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