Here are 1-3 brief analogies for OceanaGold:

• A gold mining company, like a mid-sized Barrick Gold or Newmont.
• The gold mining equivalent of a large resource company like BHP Group.

• Gold: A precious metal extracted from their mining operations and sold globally.
• Copper: A base metal produced as a byproduct from some of their gold mining activities.

OceanaGold, as a gold mining company, primarily sells its gold to other companies within the precious metals supply chain rather than directly to individuals. The major customers fall into the following categories:

• Refineries and Bullion Dealers: These are the primary direct purchasers of unrefined or semi-refined gold from mining companies like OceanaGold. They refine the gold to purity standards and then distribute it further into the market. Examples of major global bullion dealers and refiners include:

  • Metalor Technologies SA
  • Rand Refinery (Pty) Ltd
  • Argor-Heraeus SA
  • PAMP SA (Produits Artistiques Métaux Précieux)

• Financial Institutions: This category includes major banks, investment firms, and central banks that purchase gold for various purposes, including investment products (ETFs), reserve assets, wealth management, and physical commodity trading.

• Industrial Users and Manufacturers: While often purchasing through intermediaries, the end-users of gold also include companies in sectors such as jewelry manufacturing, electronics, dentistry, and other industrial applications where gold is a critical component.

Gerard Bond President & CEO

Gerard Bond was appointed President & CEO of OceanaGold in April 2022. He has extensive experience in global finance and the resources industry. Prior to joining OceanaGold, he served as the Finance Director and Chief Financial Officer at Newcrest Mining Limited from January 2012 to January 2022. Before Newcrest, Mr. Bond spent over 14 years with BHP, where he held various senior executive positions, including roles in Mergers and Acquisitions, Treasury, Deputy CFO of the Aluminium business, CFO and then Acting President of the Nickel business, and ultimately as BHP's Head of Group Human Resources. He also worked in Corporate Finance for Coopers & Lybrand before joining BHP.

Marius van Niekerk Executive Vice President and Chief Financial Officer

Marius van Niekerk was appointed Executive Vice President and Chief Financial Officer of OceanaGold in May 2023. He brings approximately 25 years of broad-based mining and technology industry experience from South Africa, the UK, Mozambique, Singapore, and Canada. Before joining OceanaGold, he was the Vice President of Finance – Americas at Newcrest Mining. During his time at Newcrest from 2019 to 2023, he was responsible for the commercial integration and financial and commercial oversight of the Red Chris and Brucejack mines. Mr. van Niekerk also spent 13 years with BHP.

Peter Sharpe Chief Operating Officer Asia-Pacific

Peter Sharpe joined OceanaGold in October 2022 as Chief Operating Officer Asia-Pacific. He has over 25 years of industry experience across Australia, Papua New Guinea, North America, and South America. Previously, he spent over six years in senior leadership roles at Newcrest Mining, including General Manager at Cadia and Lihir operations, and Director of Integration for the Pretium Resources Inc. acquisition. Prior to Newcrest, Mr. Sharpe spent nearly two decades with BHP Billiton in various senior leadership positions.

David Londono Chief Operating Officer Americas

David Londono was promoted to Chief Operating Officer Americas in July 2022. He initially joined OceanaGold in July 2021 as the Executive General Manager of the Haile Gold Mine. Mr. Londono possesses over 35 years of experience in the mining industry, working with various commodities such as coal, copper, and gold across different countries. Notably, he previously served as the General Manager for Detour Gold Corporation, where he was credited with turning around the operation before its sale to Kirkland Lake Gold.

Michelle Du Plessis Executive Vice President and Chief People and Technology Officer

Michelle Du Plessis became OceanaGold's Executive Vice President and Chief People and Technology Officer in March 2023. Prior to her role at OceanaGold, she worked for BHP for 16 years, primarily in human resources. At BHP, she also led a significant transformation program focused on digital process and organization transformation.

• Commodity Price Volatility: OceanaGold's revenue and valuation are directly impacted by fluctuations in the prices of gold and copper, which can be highly volatile.
• Operational Risks: The company faces inherent operational challenges typical of the mining industry, including potential disruptions, lower-than-expected mineral grades, and cost overruns. This also includes uncertainties regarding production consistency and operational execution, such as challenges with harder ore at the Haile mine and weather-related disruptions at the Didipio mine, which can affect costs and production.
• Regulatory and Geopolitical Exposure: Operating across various international jurisdictions exposes OceanaGold to diverse and changing policy environments. This includes risks related to regulatory oversight, geopolitical conditions, and legal matters, such as those concerning government share liabilities, particularly in the Philippines.

• Gold Mining: The global gold mining market size was estimated at approximately USD 260.86 billion in 2024. This market is projected to grow to about USD 710.08 billion by 2033.
• Copper Mining: The global copper mining market size was estimated at approximately USD 195.0 billion in 2025. This market is projected to reach around USD 229.8 billion by 2033.

OceanaGold (OGC) is poised for future revenue growth over the next 2-3 years, driven by a combination of increased production from key assets, the advancement of significant development projects, and a favorable commodity price environment. The company's strategic investments in its operations and exploration initiatives are expected to contribute substantially to its top-line expansion.

Here are the key expected drivers of future revenue growth for OceanaGold:

1. Increased Production from Haile and Macraes Mines: OceanaGold anticipates a significant boost in gold production, particularly from its Haile mine. Following the completion of a waste removal program in 2025, Haile is expected to produce 35% more gold in 2026 at a 25% lower all-in sustaining cost, by unlocking higher-grade ore. Overall, the company projects a 12% increase in production in 2026. The Macraes operation is also transitioning to higher-grade ore at Innes Mill Phase 8, contributing to an expected approximately 20% growth in gold production next year.
2. Advancement of the Waihi North Project: The world-class Waihi North project in New Zealand is a key near-term organic growth driver for OceanaGold. The company is accelerating development activities for this project, having received its final permit. Substantial investment is planned for its advancement, which is expected to unlock high-grade gold production.
3. Development of Palomino Underground at Haile: OceanaGold is commencing the build of the Palomino underground at the Haile mine. This development is designed to establish a new underground source of higher-grade ore, further enhancing the overall production profile of the Haile operation.
4. Increased Exploration Spending: The company is significantly increasing its investment in exploration, with a 50% rise in expenditures planned for 2026. This record investment aims to pursue high-return, near-mine options, which could lead to new discoveries or extensions of existing mineral reserves, thereby adding to future production and revenue streams.
5. Favorable Gold Price Environment: While not solely within the company's control, a strong and sustained gold price environment is a significant external driver of revenue growth. OceanaGold has benefited from a favorable gold price environment in 2025, contributing to record financial success, and analysts anticipate continued strong gold prices will support revenue forecasts in the coming years.

Share Repurchases

• OceanaGold completed $175 million in share repurchases in 2025.
• As of July 22, 2025, OceanaGold had repurchased $65 million over the preceding 12 months under its Normal Course Issuer Bid (NCIB).
• The board approved a doubling of the share buyback authorization for 2026, allowing for up to $350 million in share repurchases.

Share Issuance

• OceanaGold completed a 3-for-1 share consolidation effective June 23, 2025, in preparation for a planned listing on the New York Stock Exchange in the first half of 2026.

Capital Expenditures

• For 2025, capital expenditures were in line with guidance, with year-to-date expenditures of $211 million by Q2 2025, representing about 43% of the annual guidance range of $485-$530 million.
• The outlook for 2026 includes a growth and exploration capital investment of $340 million. This investment focuses on the acceleration of the Waihi North Project, commencement of the Palomino Underground development, and a significant increase in exploration activities (approximately 50%).
• In the fourth quarter of 2021, consolidated capital expenditure was $78.3 million, with exploration capital totaling $6.6 million focused on drilling at MUG, WKP, and the Golden Point Underground mine.