OceanaGold Completes IPO, Raises US$106M for the Sale of 20% Interest in OGPI

OGPI holds the Company’s interest in the Didipio Mine and, pursuant to the terms of the renewed Financial or Technical Assistance Agreement (“FTAA”), was required to list its common shares on the PSE. The Offering was a secondary offering of common shares and the proceeds were received by a wholly-owned subsidiary of OceanaGold.

The final Offering price was ₱13.33 per share for 456,000,000 common shares of OGPI and gross proceeds totalling ₱6.08B (approximately US$106M[1]) were raised. Available proceeds from the Offering, net of fees and taxes, will be applied to the repayment of OceanaGold’s debt. The Company had $160M of debt at March 31, 2023.

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:
Rebecca Harris, Director, Investor Relations
Tel: +1 604-678-4095
ir@oceanagold.com

Media Enquiries:
Louise Burgess, Director, Communications
Tel: +1 604-403-2019
media@oceanagold.com

In Europe:
Swiss Resource Capital AG
Jochen Staiger & Marc Ollinger
info@resource-capital.ch
www.resource-capital.ch

Cautionary Statement Regarding Forward-Looking Information

Certain information contained in this news release may be deemed “forward-looking” within the meaning of applicable securities laws. All statements other than statements of historical facts included in this news release constitute forward-looking statements, including but not limited to, the terms and details of the Offering, completion of the Offering, information relating to future performance and reflect the Company’s expectations regarding the generation of free cash flow, execution of business strategy, future growth, future production, estimated costs, results of operations, business prospects and opportunities of the Company and its related subsidiaries. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and are forward-looking statements. Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those expressed in the forward-looking statements and information. They include, among others, the accuracy of Mineral Reserve and Mineral Resource estimates and related assumptions, inherent operating risks and those risk factors identified in the Company’s most recent Annual Information Form prepared and filed with securities regulators which is available on SEDAR+ at www.sedarplus.com under the Company’s name. There are no assurances the Company can fulfil forward-looking statements and information. Such forward-looking statements and information are only predictions based on current information available to management as at the date that such predictions are made; actual events or results may differ materially as a result of risks facing the Company, some of which are beyond the Company’s control.  Although the Company believes that any forward-looking statements and information contained in this news release are based on reasonable assumptions, readers cannot be assured that actual outcomes or results will be consistent with such statements. Accordingly, readers should not place undue reliance on forward-looking statements and information. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements and information, whether as a result of new information, events or otherwise, except as required by applicable securities laws.

[1] Calculated at an exchange rate of US$1=₱57.32, subject to change