Consistently Delivering On Commitments - OceanaGold · Delivering On Commitments. 2 ... SAG Mill grate. Aperture of grate is inadequate. Replace with larger grate; $50k. July 2017;

Corporate PresentationAugust 2017

Consistently Delivering On Commitments

2

Cautionary & Technical Statements

Cautionary Notes - Information Purposes Only The information contained in this presentation is provided by OceanaGold Corporation (“OGC”) for informational purposes only and does not constitute an offer to issue or arrange to issue, or the solicitation of an offer to issue, securities of OGC or other financial products. The information contained herein is not investment or financial product advice and has been prepared without taking into account the investment objectives, financial situation or particular needs of any particular person. The views, opinions and advice provided in this presentation reflect those of the individual presenters only. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusion contained in this presentation. To the maximum extent permitted by law, none of OGC or any of its directors, officers, employees or agents accepts any liability, including, without limitation, any liability arising out of fault or negligence, for any loss arising from the use of the information contained in this presentation. Furthermore, this presentation does not constitute an offer of shares for sale in the United States or to any person that is, or is acting for the account or benefit of, any U.S. person (as defined in Regulation S under the United States Securities Act of 1933, as amended (the "Securities Act")) ("U.S. Person"), or in any other jurisdiction in which such an offer would be illegal. OGC’s shares have not been and will not be registered under the Securities Act.

Cautionary Statement Concerning Forward Looking Information Certain information contained in this presentation may be deemed “forward-looking” within the meaning of applicable securities laws. Forward-looking statements and information relate to future performance and reflectOGC’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 OGC and itsrelated 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 may be forward-looking statements. Forward-looking statements are subject to a variety of risks and uncertainties whichcould 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 resource estimates andrelated assumptions, inherent operating risks, and those risk factors identified in OGC’s most recent annual information forms prepared and filed with securities regulators which are available on SEDAR at www.sedar.comunder OGC’s name.

There are no assurances OGC can fulfil forward-looking statements and information. Such forward-looking statements and information are only predictions based on current information available to management of OGC asof the date that such predictions are made; actual events or results may differ materially as a result of risks facing OGC, some of which are beyond OGC’s control. Although OGC believes that any forward-lookingstatements and information contained in this presentation are based on reasonable assumptions, readers cannot be assured that actual outcomes or results will be consistent with such statements. Accordingly, readersshould not place undue reliance on forward-looking statements and information. OGC expressly disclaims any intention or obligation to update or revise any forward-looking statements and information, whether as a resultof new information, events or otherwise, except as required by applicable securities laws. The information contained in this release is not investment or financial product advice.

Technical DisclosureThe exploration results were prepared in accordance with the standards set out in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (“JORC Code”) and inaccordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators (“NI 43-101”). The JORC Code is the accepted reporting standard for the AustralianStock Exchange Limited (“ASX”) . For further scientific and technical information (including disclosure regarding mineral resources and mineral reserves) relating to the Haile Mine, the Macraes Mine and the Didipio Mineplease refer to the NI 43-101 compliant technical reports available at sedar.com under the Company’s name.

General Presentation Notes▶ All AISC and cash costs are net of by-product credits unless otherwise stated▶ All financials are denominated in US Dollars unless otherwise stated

3

Copper18,000 – 19,000

tonnes

Melbourne

Vancouver

Didipio

Waihi

Macraes

Haile

Corporate CommissioningOperation

LOM: 2032+

LOM: 2019+

LOM: 2020+

LOM: 2034+

OceanaGold Overview

2017 Guidance

Gold550,000 – 600,000

ounces

AISCUS$600 – US$650

per ounce

PORTFOLIO OF HIGH-QUALITY, GLOBALLY DIVERSE ASSETS

United States44%

Canada14%

Europe29%

ANZ9%

Asia3%

Other1%

Shareholder Geographic Composition

Market CapitalisationC$2.1 billion

Trading Liquidity (3-Mo Ave)~C$24 million / day

Market Metrics(1)

1. As at 26 Jul 2017

4

H1 2017 Results Summary

OPERATING RESULTS Q2/17 Q1/17 H1/17 H1/16

GOLD PRODUCTION koz 124.4 148.0 272.4 225.3

GOLD SALES koz 129.8 126.2 256.0 233.3

COPPER PRODUCTION kt 4.32 5.96 10.28 12.24

COPPER SALES kt 5.83 4.15 9.98 10.86

AISC $ per ounce sold 681 521 599 722

FINANCIAL RESULTS Q2/17 Q1/17 H1/17 H1/16

REVENUE $m 171.7 161.8 333.5 330.8

EBITDA $m 84.8 101.7 186.4 155.2

NET PROFIT $m 25.4 36.0 61.4 63.2

AVG. GOLD PRICE RECEIVED $ per ounce 1,262 1,227 1,244 1,222

AVG. COPPER PRICE RECEIVED $ per lb 2.45 2.73 2.57 2.14

5

Financial Position (as at Jun 30, 2017)

Total Liquidity$127m

CASH$82 million(does not include ~$72m in marketable securities(1))

UNDRAWN FACILITIES $45 million

Total Debt$330m

EQUIPMENT LEASES$45 million

DRAWN FACILITIES $285 million

NET DEBT

$248m

NET DEBT / EBITDA(2)

0.4(2017E Consensus)

1. Based on share prices on 30 Jun 20172. Source: Bloomberg

NET DEBT / TOTAL ASSETS

13%

6

Gold Mining Company of Choice

AISC Margin(1)

(2017E)

$575 / oz

Significant cash flow generation

Free Cash Flow Yield(2)

(2017E)

13.6 %

Solid pipeline of organic growth opportunities

Haile ExpansionWaihi Martha Project

Extensive global exploration

Delivering consistent positive results & value

Return on Invested Capital(3)

(3-Year Average)

13.3 %

EBITDA Margin(4)

(H1 2017)

55.9 %

Notes:1. Based on the midpoint of Company’s 2017 Guidance at a gold price of $1,200/oz2. RBC Research (18 Jul 2017)3. Bloomberg4. Company results

COMPELLING VALUE PROPOSITION FROM GROWING, HIGH-MARGIN GOLD PRODUCER

7

Strong Margins

Strong Returns & Margins

-10%

0%

10%

20%

30%

40%

50%

60%

2010 2011 2012 2013 2014 2015 2016 2017E

EBITDA Margin(1)

OceanaGold Peer Average

-5%

0%

5%

10%

15%

20%

25%

2010 2011 2012 2013 2014 2015 2016 2017E

Return on Invested Capital(1)

OceanaGold Peer Average

Solid Returns

0%

2%

4%

6%

8%

10%

2016

Return on Invested Capital(1)

OceanaGold Peer Average

0%

10%

20%

30%

40%

50%

2016

EBITDA Margin(1)

OceanaGold Peer Average

(3)(2)

(1) Bloomberg (2) Capital IQ (3) Barclays Research

8

OceanaGold StrategyPOSITIONED WELL TO DELIVER ON HIGH MARGIN GROWTH OPPORTUNITIES

9

Focus on organic growth

M&A in 2015Didipio construction

2011 to 2017E Capex Variance(1)

~240%

0

5

10

15

20

25

30

35

40

2011 2012 2013 2014 2015 2016 2017E

USD

m

Annual Exploration Capital Spend Profile

A Focus on Organic Growth

1. Based on the midpoint of exploration capex guidance range of $30m to $40m

SIGNIFICANT ORGANIC GROWTH POTENTIAL UNDERPINS DEEP VALUE

10

Growing Existing Assets

Brownfields & Greenfields explorationHAILE 2034

Annual Reserve

replenishment

DIDIPIO 2032Annual Reserve

replenishment

Extensional drilling at DidipioNear-mine targets

WAIHI 2019 10+ yearsMartha Project, Brownfields & Greenfields exploration

MACRAES 2020 10+ yearsRound Hill Project,Brownfields exploration

CURRENT MINE LIFE

OBJECTIVE FOR INCREASED MINE LIFEAREAS OF FOCUS

11

Growth Opportunities

POSITIONED IN MULTIPLE GOLD PROVINCES

HAILE

CAROLINA TERRANEDIDIPIO

CAGAYAN VALLEYPHILIPPINE FAULT ZONE

MACRAESCOROMANDEL VOLCANIC ZONE

WAIHI

OTAGO TERRANE

LOCRIAN RESOURCES

MYANMARLAOS

GSV & NUG

CARLIN TRENDCORTEZ TREND

LA CURVA JV

DESEADO MASSIF

UNITED STATES PRODUCTION

2017 GUIDANCE(1)

Gold(oz)

110,000 – 130,000(was 150,000 – 170,000)

AISC(per oz sold)

$600 – $650(2)

(was $500 – $550)

RESOURCES

P&PReserves

Gold(Moz)

3.46

Total Resources

(2)Gold(Moz)

4.35

1. Production includes both commercial and non-commercial production2. Total Resources = M&I and Inferred Resources. M&I Resources are inclusive of reserves

Haile

13

Haile Optimisation Study

OPTIMISATION STUDY RESULTS DEMONSTRATES INHERENT VALUE

Ledbetter SnakeMill ZoneChampion Small

Horseshoe

OPTIMISED DESIGN ORIGINAL DESIGN

Gold Reserves Moz 3.46 2.02

Average Annual Production koz 189

(1)127

Life of Mine Years 18(1)

13.25

Net Cash flows US$ 1.8 billion(1),(2),(3)

1.1 billion(4)

1. Based on total mineable inventory2. Pre-tax & undiscounted3. Based on a $1,300/oz gold price assumption4. Based on a $1,250/oz gold price assumption

14

AREA ISSUE SOLUTION EST. COST EST. COMPLETION DATE STATUS

SAG Mill grate Aperture of grate is inadequate Replace with larger grate $50k July 2017 Complete

Regrind inflow Sub-optimal density of fine grind material Close the feed circuit $200k July 2017 Complete

CIL Piping System Inadequately sized piping system

Redesign and install a new piping system $700k August 2017

Currently installing;

2 tanks completed

CIL Tank Liners De-lamination of CIL tank liners

Removal and re-apply new liner Nil (warranty) December 2017

Stripping tanks complete; reapplication to commence in Q3

Control system

System response slower than expected due to volume of data; longer to tune circuits

Review and upgrade over time $2M - $3M Staged upgrades over time

Some upgrades completed

Commissioning Focus Areas

COMMERCIAL PRODUCTIONAnnouncement of commercial production is not dependant on the completion of all works

15

Grinding and Processing Circuit, February 1 2017

Advancing Haile

H1 2017 PRODUCTION

36,958 ounces

OPERATING STATISTICS

Operating Physicals Q2/17 Q1/17

Ore Mined kt 538 377

Waste Mined kt 3,514 4,584

Mill Feed kt 409 351

Gold Head Grade g/t 1.99 2.44

Gold Recoveries % 61.7 75.6

SLOWER THAN EXPECTED RAMP-UP IN Q2 YIELDED LOWER RESULTS

0

50,000

100,000

150,000

200,000

250,000

300,000

1 2 3 4 5 6 7 8 9 10 11 12

Mill

Thr

ough

put

(ton

nes)

Month

Haile Ramp-up ProfilePlanned Actual Forecast

16

Haile LOM Cash Flows

5931

8 14

157135 118

75 68

114144

11676 63

177

70

-300

-200

-100

0

100

200

300

400

2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032

USD

m

Pre-tax Cash Flow Profile

Revenue Operating Cost Expansion Capex Sustaining Capex Net Cash Flow

STRONG CASH FLOW GENERATION PROFILE

Pre-tax cash flows(1) based on Reserves$1.4 billion

Pre-tax cash flows(1) based on total mineable inventory$1.8 billion

1. Undiscounted

17

Haile Drilling

EXTENSIVE DRILLING ON NUMEROUS TARGETS AT HAILE

A

A’

18

Haile 2017 Exploration

Ledbetter SnakeMill Zone

Champion Small

Horseshoe

Palomino

Reserve Design>0.4 g/t Au

Palomino

SnakeHorseshoe

Metavolcanic rocks

Metasedimentary rocks

RedHill

1 g/t Augrade shell

Palomino & Snake DrillingSeptember, 2016 – June, 2017

Assays pending

Assays reported

Metased/Metavol contact

100 m Northwest view700 m thickness

< 0.0350.035 – 0.150.15 – 0.400.40 – 0.800.80 – 1.501.50 – 3.003.00 – 5.00> 5.00

Au grade(g/t)

DDH

0618

DDH0621

Section A-A

Snakeshoe

1. As at 31 Dec 2016 – refer to www.oceanagold.com2. Total Resources = M&I and Inferred Resources. M&I Resources are

inclusive of reserves

NEW ZEALAND

Auckland

Wellington

ChristchurchBlackwater

DunedinGold-TungstenProject

Waihi

Reefton

Macraes

2017GUIDANCE H1 2017

WAIHI

Gold(oz)

110,000 – 120,000 51,419

AISC(per oz sold)

$740 – $790 $876

MACRAES

Gold(oz)

180,000 – 190,000 78,328

AISC(per oz sold)

$950 – $1,000 $1,154

RESOURCES(1)

WAIHI MACRAES

P&PReserves

Gold(Moz)

0.35 1.21

Silver(Moz)

1.31 -

Total Resources

(2)

Gold(Moz)

0.57 4.79

Silver(Moz)

1.58 -

20

Waihi - A Top Tier Asset

December 31, 2015

Total Resource(1)

430,000ounces

December 31, 2016

Total Resource(1)

570,000ounces

December 31, 2014

Total Resource(1)

360,000ounces

1. Total Resources = M&I and Inferred Resources. M&I Resources are inclusive of reserves.

EXPLORATION CONTINUES TO UNLOCK VALUE

~300 koz mined during 2015 and 2016

21

Waihi 2017 Exploration Program

Significant exploration program planned for Waihi in 2017

Other Opportunities

MULTIPLE TARGETS AT WAIHI & REGIONALLY WITH FOCUS ON NEAR-MINE

Brownfields drilling: 17,000m+Greenfields drilling: 6,000m+

Martha Project

DRILL DRIVE 1 - 800mRLConstruction status: complete to 2017 drill cuddiesDiamond drilling planned: 12,200m

DRILL DRIVE 2 - 920mRLConstruction status(1): 40% completeCompletion: Q4 2017

Underground Drilling

Infill and extensional: 18,000m+

1. As at 26 June 2017

Favona

Moonlight

portal

Trio

Correnso

Daybreak

Empire

Drill drives in progress

Historic stopes

Target resources

Martha pit

Union

Silverton

Gladstone

Christina

Daybreak

Historic workings

Resource targets: coloured blocks

22

Waihi - Martha Project

Daybreak

Development as at 31 May 2017

Martha Open Pit

Resource targetscoloured blocks

Historic Underground Development

800m RL DRILL PROGRAM – 12,200m

23

Waihi - Martha Project

Resource targetscoloured blocks

Daybreak

Development as at 31 May 2017

Historic Underground Development

Martha Open Pit

EXTENSIVE DRILL PROGRAM PLANNED

24

Regional Exploration Projects

Dome Field North & SouthMap/sample/geophysics

OhuiMap/sample/target generation/access

Twin HillsMap/sample/target generation

White BluffsGeophysics/target generation/access

GlamorganMap/sample/geophysics/target generation/access

HaurakiMap/sample/geophysics - drilling at WKP

Sinter depositsWater table silicaHydrothermal breccia

COROMANDEL GOLD DISTRICT PRODUCTION >12 MOZ AU, 52 MOZ AG

25

Hauraki (WKP) – Previous Drilling

26

WKP – Proposed Drilling

27

Coronation North

Coronation

Golden Point

Round Hill

FRUG

Macraes – Coronation North

CONTINUE TO GROW THE RESOURCE BASE

28

Coronation North

Coronation

Golden Point

Round Hill

FRUG

OPPORTUNITY TO ADD OUNCES TO ROUND HILL PROJECT

Macraes – Golden Point

29

Macraes Beyond

Round HillDeposit

Relocated Process Plant

STUDY ADVANCING: Additional technical & economic work underway

CONCEPT: New location + build of smaller process plant w/Tungsten circuit

MINE LIFE EXTENSION: Potential for mine life of 10-12 years

ROUND HILL/GOLDEN POINT

~1.38 Moz Resource(1)(2)

1. As at 31 Dec 20162. Total Resources = M&I and Inferred Resources. M&I Resources are inclusive of reserves

ADVANCING THE MACRAES ROUND HILL PROJECT

PHILIPPINES

San Fernando (Port)

Far Southeast(Goldfields/Lepanto)

Manila

Island of Mindanao

Island of Luzon

Masbate (B2Gold)

Co-O(Medusa)

Didipio

2017GUIDANCE H1 2017

Gold(oz)

150,000 – 160,000(was 110,000 – 130,000) 105,647

Copper(t)

18,000 – 19,000(was 15,000 – 17,000) 10,277

AISC(per oz sold)

$70 – $120(1)

(was $130 – $180) $15

1. Costs based on a copper price assumption of $2.50 / lb and a gold price of $1,2002. As at 31 Dec 2016 – refer to www.oceanagold.com3. Total Resources = M&I and Inferred Resources. M&I Resources are inclusive of reserves

RESOURCES(2)

P&PReserves

Gold(Moz)

1.46

Copper(Mt)

0.18

Total Resources

(3)

Gold(Moz)

2.06

Copper(Mt)

0.24

31

Didipio Underground

OPEN PIT COMPLETE

TRANSITION TO UNDERGROUND MINING CONTINUES TO ADVANCE WELL

Didipio paste fill plant under construction

UNDERGROUND ORE FEEDFirst ore expected at end of 2017

New underground mine plan in progress

32

INFILL AND EXTENSIONAL DRILLING CONTINUES

Didipio Drill Program

DESIGNED DRILLHOLESInfill drilling across 500m verticalFive levels and two panels

TOTAL METERAGE~300 drill holes for >51km of drilling

UPSIDETesting depth extensionsNear mine targets

33

TRIFR Performance

*Note. Total Recordable Injury Frequency Rate = (number of recordable injuries / number of hours worked) x 1,000,000

LEADERSHIPSenior leaders increasing focus on one-on-one safety engagements, task observations and workplace inspections

INCREASING FOCUS & ENGAGEMENT ON HEALTH AND SAFETY EXCELLENCE

ENGAGEMENTRolling out workforce engagement programs to focus on improved safety behaviours

ENHANCED INVESTIGATIONSImproving incident investigations and associated corrective / preventative actions

13.06

8.09

5.494.56

2.693.99 3.74

0

2

4

6

8

10

12

14

2011 2012 2013 2014 2015 2016 H1 2017

Total Recordable Injury Frequency Rate

34

Environmental, Social and Governance

New ZealandSignificant local and regional educational investment and sponsorship

Progressive rehabilitation of >740ha; advancing closure of Reefton

Protection and restoration of sites with significant cultural and heritage value

Very strong, continued community support for OceanaGold operations

STRONG ESG PERFOMANCE REMAINS AN INTEGRAL PILLAR OF THE COMPANY

DidipioOpening of newly constructed High School; will support ~600 students

Constructed over 100 kms of farm-to-market roads

Commenced construction of Didipio Family Health centre

Commenced construction of the Didipio Water system

HaileOfficial opening of the Haile Gold Mine on June 22;

Encouraging local employment; currently 85% local employment

Supporting 96% local and regional procurement

35

CONTINUED FOCUS ON CREATING VALUE, DELIVERING ON COMMITMENTS & STAKEHOLDER ENGAGEMENT

Looking Ahead

2017 GUIDANCE

Gold Production550,000 – 600,000

ounces

Copper Production18,000 – 19,000

tonnes

All-In Sustaining CostsUS$600 – US$650

per ounce

PRODUCTIONH2 > H1 from increased production in NZ & at Haile

Didipio production expected to decrease in H2

DEVELOPMENTComplete commissioning of Haile process plant

Advance Haile expansion to permitting

Complete development and first phase of underground mining at Didipio.

EXPLORATIONCompletion construction of drill drives and drill cuddies at Waihi

Continued drilling of high priority targets across business

37

Executive Management Team

A MANAGEMENT TEAM WITH BROAD AND DEEP EXPERIENCE

Mick WilkesPresident & Chief Executive Officer

Mark CadzowEVP and

Chief Development Officer

Scott McQueenEVP and

Chief Financial Officer

Michael HolmesEVP and Chief Operating

Officer

Craig FeebreyEVP Exploration

Mark ChamberlainEVP Corporate Development

Yuwen MaEVP Human Resources

Liang TangCompany Secretary &

Corporate Counsel

38

Board of Directors

• Mining engineer with over 35 years broad international experience as a Director/CEO for a wide range of international publicly listed mining, mining finance, and other mining related companies

• Served on the board of numerous resource public companies, which currently include Evolution Mining, Asian Mineral Resources Ltd and Syrah Resources where he serves as the non-executive Chairman

• Over 30 years industry experience

• Developed major projects in Australia & SE Asia

• Strong Operations background in hard rock mining

• Strong in Community and Government relations

• Extensive SE Asian experience

• Over 20 years of senior management and financial expertise in the field of natural resources

• Most recently she held the position of President and CEO of Romarco Minerals

• Dr. Garrett is currently CEO of Wellgreen Platinum and also a director of TriStar Gold. Inc.

• Dr. Garrett holds a PhD in Engineering in addition to a Master of Arts (MA) in Mineral Economics from the University of Texas at Austin.

Jim AskewChairman

Mick WilkesPresident & CEO

Diane GarrettDirector

• Chairman of OceanaGold (Philippines), Inc. and Philippine resident of the Australia-Philippines Business Council

• Appointed by Philippine President as private sector member of Governing Council of the Philippines Council for Agriculture, Aquatic & Natural Resource.

Joey LevisteDirector

• Mining engineer with over 30 years’ experience in mine development and operations

• Former Chairman of Quadra FNX Mining Ltd., until its takeover in 2012, a company he co-founded as CEO in 2002

• Currently on the Board for First Point Minerals and San Marco Resources

Bill MyckatynDirector

• Former Australian Ambassador to The People’s Republic of China from 2007 – 2011

• Joined the Australian public service in 1986 and has held various postings throughout Asia and Europe prior to his posting in Beijing

• Serving as the non-executive director of ASX listed Fortescue and SmartTrans

Dr. Geoff RabyDirector

• Over 35 years in financial management of mining & renewable energy companies

• Management roles with Placer Dome & Gibraltar Mines, board roles with Pan American Silver & New Gold

• Currently on the boards of Tahoe Resources & Grenville Strategic Royalty

Paul SweeneyDirector

39

Financial Results Overview

Q2/17

Q1/17

H1/17 $61 million

NET PROFIT(including $17m impairment)

$25 million

$36 million

REVENUE DRIVERSIncrease in gold sales volume

Higher average gold price received

EBITDA DRIVERSHigher cost of sales

Higher G&A costs

Q1 included the gain on sale of marketable securities

NET PROFIT DRIVERSLower EBITDA

Higher D&A costs

Partially offset by non-cash gain on undesignated hedge

4,1485,828

Copper Sales(t)

Q1/17

126

Gold Sales(koz)

Q2/17$1,227 $1,262

Gold Price Received (per oz.)

Q2/17

$2.73 $2.45

Copper Price Received(per lb)

Q1/17 Q2/17Q1/17 Q1/17 Q2/17 Q2/17

5,8284,148130

REVENUE (excludes Haile)

$172 million

$162 million

Q2/17

Q1/17

H1/17 $334 million

Q1/17

EBITDA

$85 million

$102 million

Q2/17

H1/17 $186 million

40

Cash Flow Statement

Q2/17

Q1/17

H1/17 $3.9 million

FINANCING CASH FLOW

$(6.6) million

$10.5 million

STRONGER OPERATING CASH FLOWHigher revenue and positive working capital movements were partially offset by increased costs

Lower income tax payments

INCREASED INVESTMENT CAPITALLower net Haile capital offset by QoQ increased capital for the Didipio Underground

Higher QoQ pre-strip at Macraes

Q1 included proceeds on marketable securities

LOWER FINANCING COSTSIn Q1 the credit facility was drawn down $12m

Q2 includes the payment of the dividend $(6.1)m

No net increase in drawn facilities in Q2

OPERATING CASH FLOW

$88.4 million

$52.3 million

Q2/17

Q1/17

H1/17 $140.7 million

Q1/17

INVESTING CASH FLOW

$(71.7) million

$(65.9) million

Q2/17

H1/17 $(137.6) million

41

$17

$32

$15

$8

Q2 2017 Capex Breakdown (USDm)

Haile Didipio Macraes Waihi

TOTAL$72m

$53

$50

$25

$15

H1 2017 Capex Breakdown (USDm)

Haile Didipio Macraes Waihi

TOTAL$143m

H1 2017 Capex

EXPLORATIONNearly 80% of H1 2017 exploration spend at Haile & Waihi

$4

$22

$9

H1 2017 Sustaining Capex (USDm)

Didipio Macraes Waihi

TOTAL$35m

$4

$1

$2

$6

H1 2017 Exploration Capex(USDm)

Haile Didipio Macraes Waihi

TOTAL$13m

HAILE CAPEXH1/17 capex of $53m and Q2/17 of $17m are net of capitalised revenue; full account of capex after commercial production

$95

$35

$13

H1 2017 Capex Breakdown (USDm)

Non-Sustaining Sustaining Exploration

TOTAL$143m

42

Argentina – New Opportunities