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OceanaGold (OGC) · 15 slides · Filed Oct 29, 2026
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Slide 1 — OceanaGold
OceanaGold Acquisition of Ausgold A u g u s t 1 7 , 2 0 2 6
Slide 2 — Cautionary Notes
2 Cautionary Notes 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 and United States securities laws which may include, but are not limited to, statements with respect to: the terms of and completion of OceanaGold Corporation’s (“OceanaGold” or the “Company”) acquisition of Ausgold Limited (“Ausgold”) (the “Transaction”); the strategic rationale and benefits of the Transaction to OceanaGold and Ausgold shareholders; OceanaGold's plans with respect to the Katanning Gold Project (“Katanning”), including its development plans, expected annual production and first gold production; the future financial and operating performance of OceanaGold and its mining projects, including 2026 Guidance; the future price of gold, copper and silver; the estimation of Mineral Reserves and Mineral Resources; the realization of Mineral Reserve and Mineral Resource estimates; costs of production; estimates of initial capital, sustaining capital, operating and exploration expenditures; costs and timing of the development of new deposits and new mines; costs and timing of future exploration and drilling programs; 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 presentation 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 OceanaGold to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks include, among others: the risk of the conditions to the Transaction (as defined herein) not being satisfied or the scheme implementation deed otherwise being terminated; the actual results of future production, development and/or exploration activities; possible variations of ore grade, metallurgy or recovery rates; changes in mine plans, project parameters or assumptions as plans continue to be refined; delays in, or inability to complete, development or construction or expansion activities; failures or underperformance of plant, equipment, infrastructure or processes; geotechnical risks or events, including open pit wall stability, crown pillar failure, land subsidence and tailings dam failures; scarcity in and disruption of global supply chain and/or increases in prices, including as a result of international conflicts, such as the recent and ongoing U.S.-Iran conflict; challenges associated with effective water management; environmental, health and safety and climate- related risks; risks related to community acceptance, stakeholder engagement and social licence to operate; competition for mineral properties and other growth opportunities; legal and regulatory challenges to current and future permits, certifications, approvals or licences; adverse judicial, regulatory or governmental decisions; delays in, or inability to obtain, financing or governmental approvals on acceptable terms; changes in laws, regulations, taxation regimes, regulated accounting standards or their interpretation or application; the risks associated with operating in foreign jurisdictions, including political instability, changes in policy or law, civil unrest, blockades or conflict; fluctuations in the prices of gold, copper and silver; general business, economic and market conditions (including changes in global, national or regional financial, credit, currency or securities markets); changes or developments in global, national or regional political and social conditions; fluctuations in foreign exchange rates; trade policies and tensions, including tariffs; inflationary pressure; labour availability, retention and turnover; accidents, labour disputes, work stoppages and other operational risks of the mining industry; limitations of insurance coverage or uninsured risks; the conclusions of economic evaluations, studies and models; information technology, artificial intelligence and cybersecurity risks; and those other factors identified and described in more detail in the section entitled “Risk Factors” contained in the Company’s most recent Annual Information Form and OceanaGold's other filings with Canadian securities regulators and the U.S. Securities and Exchange Commission (the "SEC"), which are available under OceanaGold's profile on SEDAR+ at sedarplus.ca and on EDGAR at sec.gov, respectively, and on OceanaGold's website at oceanagold.com. The list is not exhaustive of the factors that may affect OceanaGold's forward-looking statements. Although OceanaGold believes that any forward-looking statements contained in this presentation are based on reasonable assumptions, readers cannot be assured that actual outcomes or results will be consistent with such forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. OceanaGold expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, events or otherwise, except as required by applicable securities laws. Cautionary Note Regarding Non-IFRS Measures This presentation includes certain terms or performance measures commonly used in the mining industry that are not defined under IFRS, including all-in sustaining costs (“AISC“) and Free Cash Flow. Non-IFRS measures do not have any standardized meaning prescribed under IFRS, and therefore they may not be comparable to similar measures employed by other companies. The data presented is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS and should be read in conjunction with OceanaGold’s consolidated financial statements. Readers should refer to OceanaGold’s Q2 2026 Management’s Discussion & Analysis dated August 5, 2026 available on SEDAR+ at sedarplus.ca and on EDGAR at sec.gov under OceanaGold’s name and OceanaGold’s website at www.oceanagold.com under the heading "Non-IFRS Financial Measures" for a more detailed discussion of how OceanaGold calculates certain of such measures and a reconciliation of certain measures to IFRS terms. Qualified Persons In this presentation, each of: Mr. Greg Hollett, OceanaGold's Head of Mine Engineering, has reviewed and approved the disclosure of all scientific and technical information related to Haile operational matters; Mr. Euan Leslie, OceanaGold's Group Mining Engineer, and Mr. Knowell Madambi, OceanaGold's Manager – Technical Services & Projects, Macraes, have reviewed and approved the disclosure of all scientific and technical information related to Macraes operational matters; Messrs. Leslie and David Townsend, OceanaGold's Manager – Mining (Underground), Waihi, have reviewed and approved the disclosure of all scientific and technical information related to Waihi operational matters; Mr. Phillip Jones, OceanaGold's Head of Underground Mining, has reviewed and approved the disclosure of all scientific and technical information related to Didipio operational matters; and Mr. Keenan Jennings, OceanaGold's Executive Vice President and Chief Exploration Officer, has reviewed and approved the scientific and technical information related to exploration matters. Each of Messrs. Hollett, Leslie, Madambi, Townsend, Jones and Jennings is a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). General Presentation Notes All AISC are net of by-product credits unless otherwise stated. All financials are denominated in US dollars unless otherwise stated.
Slide 3 — Delivers Growth at an Attractive Valuation
Delivers Growth at an Attractive Valuation Adds a high-quality development asset in a tier-1 jurisdiction 3 (1) Ausgold's Updated Definitive Feasibility Study for Katanning published in December 2025 outlines average annual production of approximately 143,000 ounces of gold over the first four years of operation. Refer to Ausgold’s ASX announcement titled “Updated Definitive Feasibility Study” dated December 16, 2025. (2) Following implementation of the Scheme, OceanaGold intends to carry out further exploration and technical work on Katanning ,with first gold production expected in 2029. Conventional, low-capital project with +100koz gold production potential(1) Near-term open pit development project with first gold expected in 2029(2) Accretive acquisition with attractive returns Accretive key per share metrics once in commercial production District-scale landholding with significant exploration upside Large +3,000km2 landholding across underexplored Katanning Greenstone Belt Leverages OceanaGold’s development and operating expertise Existing technical team in Australia with significant operating experience in the region Strong balance sheet and free cash flow generation provides ability to fund growth Ability to advance all existing organic growth projects and capital returns to shareholders
Slide 4 — Diversified Portfolio of Five Assets
4 DIDIPIO Philippines HAILE USA HEAD OFFICE Vancouver, Canada MACRAES New Zealand WAIHI New Zealand Diversified Portfolio of Five Assets in Top Mining Jurisdictions KATANNING Western Australia 2026 Guidance: 85 – 105 koz Au 13 – 15 kt Cu • Advanced development • First gold expected in 2029 (1) • +100,000 oz annual gold production(2) 2026 Guidance: 235 – 260 koz Au TECHNICAL OFFICE Brisbane, Australia 2026 Guidance: 60 – 75 koz Au 2026 Guidance: 135 – 155 koz Au GOLD & COPPER exposure (1) Following implementation of the Scheme, OceanaGold intends to carry out further exploration and technical work on Katanning. (2) Ausgold's Updated Definitive Feasibility Study for Katanning published in December 2025 outlines average annual production of approximately 143,000 ounces of gold over the first four years of operation. Refer to Ausgold’s ASX announcement titled “Updated Definitive Feasibility Study” dated December 16, 2025.
Slide 5 — Transaction Summary
5 Transaction Summary Note: Full details of the Scheme will be included in Ausgold’s Scheme Booklet, which is expected to be dispatched to Ausgold shareholders in October 2026. (1) In the absence of a superior proposal emerging (as determined and announced by the Ausgold Board in accordance with the Scheme Implementation Deed) and subject to an Independent Expert concluding (and continuing to conclude) that the Scheme is in the best interests of Ausgold shareholders. (2) For further detail, refer to OceanaGold’s announcement titled “OceanaGold Announces Acquisition of Ausgold” dated August 17, 2026. (3) Based on OceanaGold’s last closing price of C$39.74 per share and an AUD:CAD exchange rate of 0.9833 on August 14, 2026. (4) Based on an AUD:USD exchange rate of 0.7068 on August 14, 2026. Ausgold shareholders to hold approximately 6% to 8% of OceanaGold post closing Transaction • OceanaGold to acquire 100% of the shares of Ausgold Limited (ASX: AUC) by way of an Australian court-approved scheme of arrangement (the Scheme) • Major shareholder of Ausgold, Dundee Corporation, which holds approximately 7.7% of shares on issue, has confirmed its intention to vote in favour of the Scheme(1) • OceanaGold has also agreed to provide Ausgold with a A$20 million bridge loan in November 2026, to fund ordinary course business operations prior to closing(2) Scheme Consideration • Ausgold shareholders will receive 0.03365 OceanaGold shares per Ausgold share, currently valued at A$1.36 per Ausgold share(3) (the Scheme Consideration) • Subject to elections for the Cash Alternative, Ausgold shareholders will collectively hold between 6% and 8% of pro forma OceanaGold • Total implied fully diluted transaction equity value of A$776 million (US$549 million)(4) Cash Alternative • Ausgold shareholders will have the opportunity to elect to receive the Scheme Consideration in cash (Cash Alternative) • The proportion of Scheme Consideration ultimately received in cash by those Ausgold shareholders electing for the Cash Alternative will be subject to the total elections received, and maximum cash to be paid as Scheme Consideration of A$194 million (US$137million)(4) in aggregate Conditions • The Scheme is subject to customary closing conditions, including: – Ausgold shareholder approval at the Scheme Meeting – The Independent Expert concluding and continuing to conclude that the Scheme is in the best interests of Ausgold shareholders – Customary regulatory approvals, including Australian Foreign Investment Review Board and Australian competition approvals and Toronto Stock Exchange approval for OceanaGold to issue OceanaGold shares as part of the Scheme Consideration
Slide 6 — Significant Free Cash Flow to Fund Growth
6 Significant Free Cash Flow to Fund Growth And continue strong capital returns to shareholders Note: Forecast figures based on Visible Alpha (VA) consensus estimates. (1) Cash as at June 30, 2026. (2) Free Cash Flow is a non-IFRS financial measure. See "Cautionary Statements" in this presentation. (3) In February 2026, OceanaGold announced that the Board had approved up to $350 million of share buybacks for the full-year 2026, with $134 million completed year to date, assuming maximum buyback is executed. (4) Based on OceanaGold 222.4 million shares outstanding and quarterly dividend per share of $0.09/sh. Assumes that dividend payments continue at their current rate. (5) Based on estimated pro forma OceanaGold 236.9 million shares outstanding (which includes an estimated 14.4 million new shares issued to Ausgold shareholders as Scheme Consideration under the maximum Cash Alternative) and quarterly dividend per share of $0.09/sh. Assumes that dividend payments continue at their current rate. (6) Assumes maximum Cash Alternative under the Scheme Consideration. (7) Refer to Ausgold’s ASX announcement titled “Updated Definitive Feasibility Study” dated December 16, 2025 which outlines A$355M in pre-production capital, converted at an AUD:USD exchange rate of 0.7068 on August 14, 2026. OceanaGold intends to carry out further exploration and technical work on Katanning and intends to provide an update to the market at closing on its proposed development plan. $655M $377M ($256)M $1,963M ($256)M ($137)M ($251)M $2,095M Current Cash H2 '26E Consensus Free Cash Flow Committed '26E Buyback and H2 Dividends '27-29E Consensus Free Cash Flow '27-29E Dividends Transaction Cash Component Katanning Updated DFS Capex OceanaGold Excess Cash OceanaGold Current Cash(1) H2’26E Consensus Free Cash Flow(2) H2’26E Buyback(3) & Dividends(4) ’27-29E Consensus Free Cash Flow(2) ’27-29E Estimated Dividends(5,6) Transaction Maximum Cash Consideration(6) Katanning Development Capex (Ausgold 2025 DFS)(7) OceanaGold Cash Holdings (Est. ’29YE) Consensus estimates include capital for Waihi North Project and other OceanaGold organic growth projects
Slide 7 — Katanning
Katanning High-quality development asset in Australia OVERVIEW Processing Type CIL processing Mine Life 10 years(1) Location Western Australia Metals Gold Mine Type Open Pit 7 Tier-1 Jurisdiction Established infrastructure and workforce 54,000m drill program Multi-rig program currently underway Production of +100,000 oz of gold per year(1) Low capital Conventional OP with CIL processing +3,000km2 landholding in an underexplored gold belt Permitting advanced with granted mining leases KATANNING (1) Refer to Ausgold’s Updated Definitive Feasibility Study for Katanning and ASX announcement titled “Updated Definitive Feasibility Study” dated December 16, 2025. OceanaGold intends to leverage its technical and project development experience to re-optimize and de-risk Katanning. An update, including key project assumptions and timeline, will be provided upon transaction closing.
Slide 8 — Key Project Milestones
Key Project Milestones 8 Pre-Development Activities Underway Early Works Agreements executed, with detailed engineering and long-lead procurement underway 250-room accommodation village construction underway Significant Drill Program Focus on extending known mineralization and increasing confidence in early production areas Major Permitting Milestones Achieved Permitting under public review following authorization from the Western Australia Environmental Protection Authority, a key step in the overall permitting process Granted mining tenure held over the entirety of the planned project development Katanning Site Overview(1) (1) Katanning site overview based on Ausgold's Updated Definitive Feasibility Study for Katanning. Refer to Ausgold’s ASX announcement titled “Updated Definitive Feasibility Study” dated December 16, 2025.
Slide 9 — Katanning Indicative Project Timeline under OceanaGold
9 Katanning Indicative Project Timeline under OceanaGold Indicative Project Timeline 2026 2027 2028 2029 Transaction Close OceanaGold Project Update (Upon close) Development Activities (drilling, studies, tendering, etc.) Updated Technical Study / NI 43-101 Construction First Gold Note: Project timeline presented is indicative and subject to implementation and closing of the Scheme. Further details, including key project assumptions, will be provided post-transaction completion. Project development to be optimized and de-risked under OceanaGold ownership An update to the market with the proposed development plan for Katanning will be provided at closing
Slide 10 — Resource Conversion and Growth Opportunities
10 Resource Conversion and Growth Opportunities Multiple pathways to increase confidence and grow resources Near-term exploration Resource de-risking and in-fill drilling underway; 54,000 m planned Supports mine planning and de-risks the production profile Areas below current pit shells demonstrate potential for resource growth Extensions zone, ~500m below surface provide further optionality and upside potential HINGE ZONE EXTENSION 0 m 100 Monzonite Paragneiss Indicated Inferred Upside Potential GEOLOGY MINERALIZATION(1) Schematic cross section of the Central Zone Pit Shell (1) OPEN OPEN (1) Theoretical Pit Shell for illustrative purposes only. For Ausgold’s JORC Mineral Resources estimate, refer to Ausgold’s ASX announcement titled “Updated Definitive Feasibility Study” dated December 16, 2025. A qualified person has not done sufficient work to classify such estimate as current Mineral Resources under NI 43-101 and OceanaGold is not treating such estimate as current Mineral Resources. Investors are cautioned that such estimate should not be relied upon. Further details, including key project assumptions, will be provided by OceanaGold post-transaction completion.
Slide 11 — Regional Upside in Large Land Package
Regional Upside in Large Land Package 11 Stanley Shear Nanicup-Zinger Katanning 50km 100km +3,000 km2 land holding Minimal historic exploration Proven endowment and analogous to more well-known belts Initial drilling suggests upside potential for another Katanning, notably at: Stanley Shear (~30 km from Katanning): o 20 km structural corridor o Initial drilling includes 8.5 m @ 33.0 g/t Au from 38 m(1) Nanicup-Zinger Belt (~40 km from Katanning): o Gold mineralization occurrences over 4 km strike and remains open Kraken-Yandina (~90 km from Katanning): o Strong soil geochemistry anomalies o Initial drilling results pending Large ground holding in underexplored greenstone belt Numerous exploration targets Kraken-Yandina (1) Refer to Ausgold’s ASX announcement titled “AUC Significantly Expands Tenement Position at Katanning” dated April 13, 2022.
Slide 12 — Thank You
Thank You
Slide 13
Slide 14 — Pro Forma OceanaGold Capitalization
Shares Outstanding #M 222.4 (BSO) 570.8 (F/D SO) 241.7 236.9 Equity Value US$M 6,371 549(1) 6,920 6,783 Cash(2) US$M 655 62(1) 717 580 Debt(2) US$M - - - - Enterprise Value US$M 5,716 487 6,203 6,203 14 Pro Forma OceanaGold Capitalization The transaction preserves OceanaGold’s balance sheet and financial flexibility to advance its growth pipeline and continue to provide capital returns to shareholders Pro Forma (1) Based on a USD:CAD exchange rate of 1.3875 and an AUD:USD exchange rate of 0.7068 on August 14, 2026. (2) Cash and debt balances as of June 30, 2026. (3) Based on cash balance of US$655M as of June 30, 2026 and undrawn revolving credit facility of US$200M. (4) Non-IFRS financial measure. See "Cautionary Statements" in this presentation. Grey Text = Corresponding metric under maximum Cash Alternative Potential cash consideration paid to Ausgold shareholders, under the Cash Alternative, capped at A$194M (approximately US$137M)(1) Transaction to be funded entirely via OceanaGold’s existing cash on hand and available liquidity totaling ~US$855M(3), supported by record free cash flow(4) generation in 2025 of US$543M Transaction maintains a strong, debt-free, balance sheet to prioritize shareholder returns and growth across the portfolio Well placed to self-fund Katanning project capex
Slide 15 — Indicative Transaction Timetable
15 Indicative Transaction Timetable Transaction completion estimated in December 2026 Event Indicative Timing Announcement of the Scheme August 17, 2026 Draft Scheme Booklet lodged with ASIC Early October 2026 First Court Hearing October 2026 Scheme Booklet Dispatched October 2026 Scheme Meeting Late November 2026 If the Scheme is approved by Ausgold Shareholders Second Court Hearing to approve the Scheme Early December 2026 Effective Date Early December 2026 Implementation Date Mid December 2026