OceanaGold Announces Renewal of Share Buyback
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July 22, 2025 News Release
OceanaGold Announces Renewal of Share Buyback
(VANCOUVER, BC ) OceanaGold Corporation (TSX : OGC, OTCQX: OCAN D) (“OceanaGold” or the
“Company”) announces it has received approval from the Toronto Stock Exchange (“TSX”) to renew its
Normal Course Issuer Bid ( “NCIB”), permitting the Company to buy back up to approximately 23 million
common shares (“Common Shares”), representing a maximum of 10% of the Company’s public float over
the next 12 months. As of July 21, 2025, there were a total of 231,121,129 Common Shares issued and
outstanding.
The Company believes that the market price of the Common Shares may not, from time to time, fully reflect
their value and accordingly the repurchase of its Common Shares would be in the best interest of its
shareholders.
Over the prior 12 months under the current NCIB , OceanaGold has repurchased $ 65 million through the
buyback, (6.85 million shares at an average price of C$13.06 per share on a post consolidation basis) with
$41 million of the board approved $100 million for the full -year 2025 now completed. The remaining $59
million is expected to be deployed in the second half of 2025 under the renewed NCIB. The increased share
repurchase limit provides the Company increased flexibility to continue share buybacks throughout the
remainder of 2025 and the first half of 2026.
Gerard Bond, President and Chief Executive Officer of OceanaGold, said “OceanaGold is operating from a
position of financial strength , with robust Free Cash Flow generation and a strong balance sheet. In
alignment with our disciplined capital allocation framework, we are pleased to announce a renewed NCIB
program with an increased repurchase limit. This increased limit allows the Company to continue utilizing
the share buyback program to return value to our shareholders while continuing to invest in our growth and
exploration projects across the business.”
In connection with the NCIB, the Company has entered into an Automatic Share Purchase Plan (“ASPP”)
with a designated broker to allow for the repurchase of Common Shares at times when the Company
ordinarily would not be active in the market due to its own internal trading blackout periods.
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The Company has received approval from the TSX, during the 12 -month period commencing on July 24,
2025 and ending on or before July 23, 2026, to purchase up to approximately 23 million Common Shares
through the facilities of the TSX and alternative Canadian trading systems. Under the terms of the NCIB,
the Company may purchase up to a daily maximum of 180,933 Common Shares (being 25% of the average
daily trading volume of 723,735 Common Shares for the six -month period ended June 30, 2025, in each
case on a post-consolidation basis).
The ASPP will terminate on the earliest of the date on which the: (i) purchase limit under the NCIB has
been reached; (ii) NCIB expires; and (iii) ASPP otherwise terminates in accordance with its terms. The
ASPP constitutes an “automatic plan” for purposes of applicable Canadian securities legislation and the
agreement governing the plan has been pre-cleared by the TSX.
The actual number of Common Shares that may be purchased and the timing of such purchases will be
determined by the Company in accordance with applicable laws and the ASPP. Decisions regarding
purchases will be based on market conditions, share price, best use of available cash, and other factors.
Any Common Shares that are purchased under the NCIB will be cancelled.
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 mine s: 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:
Haley Mayers, VP, Investor Relations
Tel: +1 604-678-4097
Valerie Burns, Manager, Investor Relations
Tel: +1 604-235-0742
Media Relations:
Louise Burgess, Director, Communications
Tel: +1 604-403-2019
www.oceanagold.com
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Cautionary Statement for Public Release
This press release contains certain “forward -looking statements” and “forward -looking information”
(collectively, “forward -looking statements”) within the meaning of applicable Canadian securities laws,
which may include, but is not limited to, statements with respect to the amount of and timing for anticipated
purchases under the NCIB and the ASPP. All statements other than statements of historical facts included
in this press release constitute forward -looking statements. Forward -looking statements and in formation
relate 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 oppor tunities of OceanaGold 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 may be 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 ex pressed in the forward-looking statements.
They include, among others, 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 and on the Company’s website. There are no assurances the Company can
fulfil forward-looking statements. Such forward -looking statements are only predictions based on current
information available to management as of 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 contained in this press release
is 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. 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.