Macraes, New Zealand
BUILDING A SUCCESSFUL INTERNATIONAL GOLD MINING ORGANISATION2018 IMARC - MELBOURNE
Mick WilkesPresident & CEO
November 1, 2018
CONSISTENTLY DELIVERING ON COMMITMENTS
INNOVATION I PERFORMANCE I GROWTH
HAILE (UNITED STATES)
OPEN PIT W/ PROPOSED
UNDERGROUND
▪ MINE LIFE: 2033+
EXPANSION UNDERWAY
▪ NOMINAL PRODUCTION →
150,000 TO 200,000 OZ
▪ AISC → $700 TO $800 / OZ
DIDIPIO (PHILIPPINES)
UNDERGROUND
▪ MINE LIFE: 2032+
UNDERGROUND EXPANSION
▪ NOMINAL PRODUCTION →
100,000 TO 110,000 OZ AU +
12,000 TO 15,000 T CU
▪ AISC → $250 TO $350 / OZ
WAIHI (NEW ZEALAND)
UNDERGROUND
▪ MINE LIFE: 2019+
PERMITTING 10-YR EXTENSION
▪ NOMINAL PRODUCTION →
80,000 TO 110,000 OZ AU
▪ AISC → $700 TO $800 / OZ
MACRAES (NEW ZEALAND)
OPEN PIT & UNDERGROUND
▪ MINE LIFE: 2021+
SEEKING LOM EXTENSION
▪ NOMINAL PRODUCTION →
150,000 TO 200,000 OZ AU
▪ AISC → $900 TO $1,100 / OZ
2
High Quality Assets
SUCCESSFUL GLOBAL BUSINESS UNDERPINNED BY HIGH QUALITY ASSETS
3
History of the OceanaGold
BUILDING A SUSTAINABLE BUSINESS ONE STEP AT A TIME
2007
REEFTON
1999
AUTOCLAVE AT MACRAES
1990
MACRAES
2006
MERGER WITH CLIMAX
2008
FRASERS
UNDERGROUND
2013
DIDIPIO
2017
HAILE
2015
ROMARCO & WAIHI
ACQUISITIONS
4
Creating Value and Real Growth
1. Reefton entered Closure in December 2016
2. Fully diluted
3. EPS adjusted = Earnings after tax before gains/losses on undesignated hedges and
impairments
$145m
$408m
2012 2017
EBITDA GROWTH
$0.32
$0.07
2012 2017
EPS GROWTH
36%
Growth per share
372%
Growth per share
19%
Growth per share
PRODUCTION GROWTH
2016 201720142012 20152013
HAILE DIDIPIO WAIHI MACRAES REEFTON(1)
GOLD PRICE PERFORMANCE(2012 to 2017)
25%
5
Consistent Margin & Return on Capital
-10%
0%
10%
20%
30%
40%
50%
60%
2011 2012 2013 2014 2015 2016 2017 YTD 2018
OceanaGold Peer Average
EBITDA MARGIN*
-5%
0%
5%
10%
15%
20%
2011 2012 2013 2014 2015 2016 2017 YTD 2018
OceanaGold Peer Average
RETURN ON INVESTED CAPITAL*
*Source: Bloomberg. YTD data based on Company estimates
34 CONSECUTIVE QUARTERS OF DELIVERING A POSITIVE ROIC
6
Industry Leading Profitability
$1,228
$516
$425
$403
$273
$153
($10)
($40)
($176)
($177)
($244)
($631)
($652)
($683)
($730)
($980)
($1,345)
($2,081)
($2,401)
($2,582)
($3,494)
($5,056)
($6,964)
($8,211)
RandgoldCenterra
OceanaGoldNorthern Star
Regis ResourcesTahoe
SaracenEvolution
AgnicoSt Barbara
DetourAlamosB2 Gold
EndeavourGold Fields
New GoldIAMGOLDEldorado
AngloGoldNewmont
YamanaKinross
NewcrestGoldcorp
Barrick
Net Income – GAAP (5-Yr Total) Adjustments (5-Yr Total) Net Income - Adjusted (5-Yr Total)
$1,228
$700
$611
$447
$462
$352
$27
$114
$579
$108
($240)
($144)
$133
$65
$380
($207)
($366)
$62
$1,168
$2,955
($108)
($522)
$1,432
$118
$3,339
($13,512)
$0
$184
$186
$44
$188
$199
$37
$154
$755
$285
$4
$487
$785
$748
$1,110
$895
$979
$2,143
$3,569
$5,537
$3,385
$4,533
$8,396
$8,329
$17,363
M&A Adjustments
Impairment
Income Tax Charge (Benefit)
Other
($USM) ($USM) ($USM)
Source: Barclays and Bloomberg, data as of May 3, 2018.
Note: Bloomberg adjustments were combined into the following groups: M&A Adjustments (Disposal of Assets, Sale of Business, and Sale of Investments), Impairment (Asset Write-Down, and Impairment of Goodwill), Income Tax Charge/Benefit,
Other (Unrealized Investments, Abnormal Derivatives, Merger Expense, Restructuring Expense, Legal Settlement, Insurance Settlement, Early Extinguishment of Debt, and Other Abnormal Items).
7
A Recipe for Success
HIGH QUALITY ASSETS✅
LONG TERM FOCUS✅
BUILD INTERNAL CAPABILITY✅
GO WHERE THE GOLD IS✅
RESPONSIBLE MINER✅
CREATE OPTIONALITY✅
BUILD AND ENHANCE THE BRAND✅
BE COUNTER CYCLICAL✅
8
Growing Our People
ATTRACT AND DEVELOP THE BEST PEOPLE IN THE INDUSTRY
EFFECTIVE LEADERSHIP
BECOME THE COACH
EMBRACE DIVERSITY
2068 EMPLOYEES - 16% WOMEN
RESPECT
BE A VALUES BASED ORGANISATION
INTEGRITY
TEAMWORK INNOVATION
ACTION ACCOUNTABILITY
9
Playing to Our Strengths
▪Mine building
▪ Processing refractory ore
▪ Operating in sensitive locations
▪ Strong balance sheet
▪ Low net debt
▪ De-centralised business
TECHNICAL
ORGANISATIONAL READINESS
LEVERAGE OUR CAPABILITY TO EXPAND OUR BUSINESS & MANAGE RISKS
10
DIDIPIO PHILIPPINES
MACRAES NEW ZEALAND
WAIHI NEW ZEALAND
HAILE UNITED STATES
COMMISSIONED
(2013)
COMMISSIONED
(1990)
PURCHASED (2015)
PURCHASED (2015)
COMMISSIONED (2017)
Going Where the Gold Is
MIRASOL JV’S ARGENTINA
JOINT VENTURES
(2017)
GSV & NUG UNITED STATES
STRATEGIC INVESTMENTS
(2015 & 2016)
CORPORATE OFFICE
CORPORATE
OFFICE
DECENTRALISED BUSINESS PROVIDES A PLATFORM TO GROW INTERNATIONALLY
11
Investing at Opportune Times in the Cycle
$1,000
$1,100
$1,200
$1,300
$1,400
$1,500
$1,600
$1,700
$1,800
$1,900
$2,000
1/0
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01
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8
DIDIPIO
CONSTRUCTION
ROMARCO ACQUISITION
WAIHI ACQUISITION
INVESTING IN ORGANIC
GROWTH & EXPLORATIONSTRATEGIC
INVESTMENT(GSV)
STRATEGIC INVESTMENT
(NUG)
12
Making Quality Investments
Patient, disciplined and diligent
Waihi (2015)
Investment:
• $101m (cash)
Purchased:
• 3 year LOM
• Significant exploration upside
Portfolio impact:
• 10-year+ LOM potential
• Strong FCF generation
Strategic Investments
Investment:
• GSV: $16m
• NUG: $5m
Purchased:
• 16% equity in GSV and NUG
Portfolio impact:
• Early stage
• Prolific gold region
• Current value: ~US$77m
12
Romarco (2015)
Investment:
• $417 million (scrip)
Purchased:
• Haile Gold Mine (2 Moz reserve)
Portfolio impact:
• High-margin, long-life asset (3.4Moz)
• Desirable jurisdiction
• Top-tier asset
0
100
200
300
400
500
600
700
0
5
10
15
20
25
30
35
2012 2013 2014 2015 2016 2017
Go
ld P
rod
uct
ion
(ko
z)
Exp
lora
tio
n S
pen
d (
USD
m)
OGC EXPLORATION & PRODUCTION PROFILE
Annual Production Exploration Expenditure
13
Investing in the Long Term
OPERATING & EXPLORING NUMEROUS TARGETS IN MULTIPLE GOLD DISTRICTS
▪ Carolina Terrane
▪ Great Basin
▪ Coromandel
▪ Otago Terrane
▪ Cagayan Valley
▪ Philippine fault zone
▪ Deseado Massif*
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
1,250
1,300
1,350
1,400
1,450
1,500
1,550
1,600
2010 2011 2012 2013 2014 2015 2016 2017
OG
C R
eser
ves
(Mo
z)
Glo
bal
Res
erve
s (M
oz)
GLOBAL AND OGC RESERVES
Global Reserves OGC Reserves
* The La Curva and Claudia Projects are owned and operated by Mirasol Resources Ltd. Oceana is earning an interest in each of these
projects pursuant to two Option and Joint Venture Agreements which it entered into with Mirasol in 2017.
14
RESPONSIBLE MINER
PROVEN TRACK RECORD OF OPERATING SUSTAINABLY FOR OVER 28 YEARS
SUPERIOR ENVIRONMENTAL MANAGEMENT &
PERFORMANCE
ENVIRONMENTAL STEWARDSHIP
Protection and promotion of biodiversity
Water management and efficiency
Strategic partnerships
Closure and rehabilitation planning
15
RESPONSIBLE MINER
OPERATING SUCCESSFULLY IN SOCIALLY COMPLEX JURISDICTIONS
STRONG SOCIAL LICENSE TO OPERATE
BUILDING CAPACITY NOT DEPENDANCY
Focus on local employment and
procurement
Significant economic contributor
Investing in social infrastructure
Strong stakeholder engagement
Corporate Headquarters
Level 14, 357 Collins Street
Melbourne, Victoria, 3000
Australia
T: +61 3 9656 5300
F: +61 3 9656 5333
oceanagold.com @OceanaGold
Americas Corporate Office
Suite 3504725 South Monaco StreetDenver, Colorado, 80237United States of America
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