• 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

OceanaGold Corporation (TSX: OGC) (OTCQX: OCANF) 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 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 ^† 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.

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 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  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.

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.

Results Overview

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.

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.