(All financial figures in United States dollars unless otherwise stated)

• On track to achieve production and AISC^† guidance, Q4 expected to be the strongest of the year
• Strong Free Cash Flow^† of $155 million, with cash of $729 million and no debt at quarter end
• Advanced growth projects and delivered exploration success
• Returned $79 million to shareholders via buybacks and dividends

VANCOUVER, BC, Nov. 4, 2026 /CNW/ -- OceanaGold Corporation (TSX: OGC) (NYSE: OGC) ("OceanaGold" or the "Company") reported its operational and financial results for the three and nine months ended September 30, 2026. The consolidated financial statements and Management's Discussion and Analysis ("MD&A") are available at www.oceanagold.com.

Third Quarter Highlights

• On track to achieve midpoint of full year production guidance, with the fourth quarter expected to be the strongest of the year.
• Safely and responsibly produced 133,400 ounces of gold and 3,400 tonnes of copper.
• All-in sustaining cost ("AISC")^† of $1,874 per ounce, 13% lower than the prior quarter, and expected to reduce in the fourth quarter. Full year AISC^† remains on track to be towards the upper end of guidance.
• Revenue of $655 million at an average realized gold price of $4,249 per ounce.
• Net profit¹ of $198 million, EPS of $0.88 and adjusted EPS^† of $0.94.
• Operating Cash Flow of $325 million and adjusted EBITDA Margin^† of 58%.
• Generated strong quarterly Free Cash Flow^† of $155 million, and $541 million year to date.
• Cash balance increased by 11% to $729 million, with no debt and revolving credit facility undrawn.
• Returned $79 million to shareholders in the quarter and $253 million year to date.
• Completed $59 million in share buybacks during the quarter and $193 million year to date.
• Strong quarterly production at Haile expected in the fourth quarter, supported by access to the higher-grade lower benches of the Ledbetter open pit, with 27,400 ounces produced at Haile in October 2026.
• Announced the acquisition of Ausgold Limited, the owner of the Katanning Gold Project in Western Australia, with closing expected in December 2026.
• Progressed the Waihi North Project and Palomino Underground Project, both on track.
• Lodged the permit application for the Macraes Phase 4 Project ("MP4") to extend the mine life at Macraes to the late 2030s, with recent drilling supporting the potential to extend mine life into the 2040s.
• Reported high-grade drill results at Wharekirauponga, continuing to demonstrate the exceptional grade and continuity of the deposit, with an updated technical report planned for January 2027.

Gerard Bond, President and CEO of OceanaGold, said "The third quarter marked another period of safe and responsible gold production, with costs improving as planned, positioning us to deliver on our production and AISC guidance for the year. We generated significant Free Cash Flow of $541 million year to date, enabling us to continue to invest substantially in our attractive organic growth projects, strengthen our balance sheet and return meaningful capital to shareholders. During the quarter, we submitted the MP4 application to extend operations at Macraes into the late 2030s, continued to advance the Waihi North Project and Palomino Underground Project, and delivered exceptional high-grade drill results from Wharekirauponga, which demonstrates the significant value creation from our investment in exploration.

Looking ahead, we are well positioned to finish the year strongly, with the fourth quarter expected to be the strongest of the year, driven by increased gold production at Haile and further improvements in AISC. We also look forward to completing the acquisition of Ausgold by the end of the year, adding another high-quality growth opportunity to our portfolio. We remain focused on safely and responsibly delivering strong operational performance, generating significant Free Cash Flow and advancing our growth projects to create value for our shareholders."

Results Overview

Outlook

The Company's 2026 production, cost and capital Guidance is outlined in the table below.

The Company remains on track to achieve around the midpoint of its consolidated 2026 production Guidance. Production is expected to increase in the fourth quarter and be the strongest quarter of the year, primarily driven by Haile.

With Haile expecting its strongest production quarter of the year in the fourth quarter and 27,400 ounces produced in October, Haile's production is expected to be towards the low end of its 2026 production Guidance range. At Haile, a modified mine plan was implemented in the third quarter to de-risk the Ledbetter Pit South Wall. As a result, mining activities remained focused on the lower-grade upper benches of the Ledbetter open pit during the third quarter, temporarily impacting access to higher-grade ore. By the end of September, mining had successfully advanced into the lower benches, positioning Haile to access higher-grade ore and deliver an expected increase in production in the fourth quarter.

At Macraes, production is expected to be lower in the fourth quarter, as per plan, with full-year production expected to be near the top end of its Guidance range. Production at Waihi is expected to remain relatively consistent with the third quarter, while production at Didipio is expected to be higher in the fourth quarter, driven by increased underground mining rates.

Consolidated AISC^† is anticipated to be towards the upper end of the Company's 2026 Guidance range, reflecting inflationary impacts on labour cost and operating consumables, continued investment in maintenance and reliability improvements, the component of unhedged energy costs and lower silver by-product credits, as well as the lower sales volumes expected from Haile. Fourth quarter consolidated AISC^† is expected to be lower than the third quarter, underpinned by increased production at Haile. Full year AISC^† at each of Macraes, Waihi and Didipio is expected to be within their respective 2026 Guidance ranges, while Haile's AISC^† is anticipated to be around the high end of its 2026 Guidance range, reflecting lower volumes, increased investment in maintenance and reliability, and broader cost inflation, including labour.

Total capital investment for 2026 is expected to be approximately $45 million, or 7%, above the Company's total capital investment Guidance of $645 million, reflecting increased investment in growth and exploration capital. Expected higher growth capital reflects accelerated investment to support the Macraes Phase 4 Project, higher investment in the mining fleet at Didipio and additional spend at the Waihi North Project due to the acceleration of certain activities previously planned for 2027. Exploration capital is expected to be approximately $10 million above its Guidance of $60 million due to expanded, success-driven drilling programs at all four sites.

2026 Full-Year Guidance

Waihi District and the Waihi North Project

The Waihi District comprises the Company's Waihi Operation, which includes the currently producing Martha Underground ("MUG"), and the Waihi North Project, which includes the high-grade Wharekirauponga Underground ("WUG").

An updated National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") technical report on the Waihi District is planned for release in January 2027. The technical report will include updated Mineral Reserves and Mineral Resources estimates.

The technical report will also include an updated mine plan for the Waihi District, incorporating the results of ongoing technical evaluations. These evaluations are assessing the potential to extend mining at MUG beyond 2033, in conjunction with the commencement of mining at WUG. To support this opportunity, the Company is also evaluating a potential processing plant expansion to increase throughput capacity up to 1.2 million tonnes per annum.

OceanaGold is permitted to develop and operate the Waihi North Project. Construction and underground tunnelling activity to the underground mine continues to ramp up with overall project development progressing on schedule for first ore in 2032.

Following completion of the portal, decline development commenced in May 2026 and is progressing in line with plan, advancing just over 500 metres to date. Construction of the first ventilation shaft commenced in the third quarter, with a second jumbo expected to be added in the first half of 2027 to begin development of the twin tunnel toward Wharekirauponga.

Bulk earthworks at the Willows Portal site continued in the third quarter, with water management-related sedimentation ponds, haul roads and waste rock stack and the magazine completed in the quarter. The surface facilities earthworks remain on track for completion by year end, with the surface area buildings and workshop expected to be constructed in 2027. Staged commissioning of the water treatment plant commenced in September, and is expected to be fully commissioned by year end. Early works activities on TSF 3 are expected to commence in the fourth quarter.

Palomino Underground Project

Development of the decline connecting the Horseshoe Underground to the Palomino Underground advanced during the quarter, and construction of the first ventilation shaft commenced. Development remains on track to achieve first ore from Palomino Underground in 2028.

Dividend

OceanaGold has declared a $0.09 per share dividend payable in December 2026. Shareholders of record at the close of business in each jurisdiction on November 18, 2026 (the "Record Date") will be entitled to receive payment of the dividend on December 18, 2026. The dividend payment applies to holders of record of the Company's common shares traded on the TSX and the NYSE.

Dividends are payable in United States dollars. Shareholders in other jurisdictions can elect to participate in Computershare's international payments service if they want to receive dividends in an alternative currency. This dividend qualifies as an 'eligible dividend' for Canadian income tax purposes.

Share Buyback

Year to date 2026, the Company has completed $193 million of share repurchases. In February, the Company announced approval to apply up to $350 million towards share buybacks in 2026.

Conference Call and Webcast:

Senior management will host a conference call and webcast to discuss the quarterly results on Thursday, November 5, 2026 at 10:00 am EST (8:00 am PCT). To participate in the conference call, please use one of the following methods:

• Webcast: https://app.webinar.net/YJvAQpM752D
• Toll-free North America: +1 888-510-2154
• International: +1 437-900-0527

If you are unable to attend the call, a recording will be made available on the Company's website.

About OceanaGold

OceanaGold is a global 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 wholly-owned Haile Gold Mine in the United States of America; the wholly-owned Macraes and Waihi operations in New Zealand; and the 80%-owned Didipio Mine in the Philippines.

Cautionary Statement for Public Release

This news release contains certain "forward-looking statements" and "forward-looking information" (collectively, "forward-looking statements") within the meaning of applicable Canadian and United States securities laws which may include, but are not limited to, statements with respect to: the Company's planned production, cost and capital Guidance for 2026; the future financial and operating performance of the Company and its mining projects and the anticipated benefits therefor; the development, expansion and operation of the Company's mining projects; anticipated production levels and mine lives; the estimation, realization and classification of Mineral Reserves and Mineral Resources; costs of production; estimates of growth capital, sustaining capital, operating and exploration expenditures; costs and timing of the development of new deposits and mines; the availability of, and access to, labour, equipment, power, diesel, water and other inputs; the timing, cost and outcome of development, construction and expansion activities; the timing for closing of the Transaction; the timing for achieving first ore at Palomino Underground in 2028; the timing for the commencement of construction of the paste plant at Haile and first paste delivery; the timing for providing ore at Coronation North Phase 5 at Macraes; anticipated benefits of MP4, including the potential for extension of the mine life at Ma