OceanaGold (Philippines) Third Quarter Revenue of US$102M, Net Income of US$3.6M, Declares Cash Dividend

Atty. Joan D. Adaci-Cattiling, President of OceanaGold Philippines, said "I am very pleased to declare our second dividend since becoming a public company in May. The dividend declared this quarter equates to an annualized yield of over 20%. Gold production increased by 21% compared to the prior quarter and optimization work to increase mining rates from the underground is on track to achieve 2mtpa by the end of the year. We remain focused on safely and responsibly delivering our updated production guidance while generating returns for our shareholders."

Third Quarter Highlights

• Declared dividend of US$0.0138 per share (equivalent to ₱0.81 per share assuming an exchange rate of ₱58.16 Peso per US Dollar1) for the quarter. On an annualized basis, this equates to a dividend yield of approximately 20.6%2.
• Produced 27,900 ounces of gold and 3,400 tonnes of copper.
• Third Quarter Revenue of US$102M, Net Income of US$3.6M, and Earnings per share of US$0.00
• Exploration permit for the FTAA area extended for five additional years
• 2024 guidance updated to 104,000 to 108,000 ounces of gold produced at an AISC of US$1,000 to US$1,100 per ounce sold.

The Company is pleased to announce its second dividend of $31.5M (or US$0.0138 per common share). Holders of the publicly traded shares at the close of business on November 20, 2024 Manila Time (the Record Date) will be entitled to receive payment of the dividend on December 16, 2024 Manila Time. Such payment shall be paid in Philippine pesos based on the prevailing exchange rate on the day the payment is processed.

OCEANAGOLD (PHILIPPINES), INC., a corporation organized and existing under Philippine law, operates the Didipio gold-copper mine in Luzon under a Financial or Technical Assistance Agreement. The Company is committed to safely and responsibly maximizing the generation of Free Cash Flow from its operation and delivering strong returns for its shareholders.