Exhibit 99.9

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OCEANAGOLD CORPORATION
CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS
FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2025 AND 2024

OceanaGold Corporation
Condensed Interim Consolidated Statements of Financial Position
(in millions of United States dollars - unaudited)
September 30December 31
Notes
2025
2024
ASSETS
Current assets
Cash and cash equivalents$334.9 $193.5 
Trade and other receivables
538.3 13.7 
Inventories
6184.8 239.5 
Prepayments30.8 18.6 
Total current assets588.8 465.3 
Non-current assets
Trade and other receivables
560.6 44.1 
Inventories
6132.1 111.0 
Deferred tax assets18.4 39.0 
Mineral properties, plant and equipment
72,083.5 1,829.7 
Total non-current assets2,294.6 2,023.8 
TOTAL ASSETS$2,883.4 $2,489.1 
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities
Trade and other payables$308.7 $198.7 
Employee benefits36.8 28.7 
Current tax liabilities88.6 47.9 
Lease liabilities25.6 28.1 
Debt
8– 1.6 
Derivative hedges– 0.9 
Asset retirement obligations2.4 2.9 
Total current liabilities462.1 308.8 
Non-current liabilities
Employee benefits23.1 15.1 
Deferred tax liabilities61.8 33.6 
Lease liabilities29.9 41.9 
Asset retirement obligations177.2 163.2 
Total non-current liabilities292.0 253.8 
TOTAL LIABILITIES754.1 562.6 
SHAREHOLDERS' EQUITY
Share capital
91,191.0 1,219.5 
Retained earnings845.4 611.6 
Contributed surplus64.8 64.8 
Other reserves(76.3)(75.9)
TOTAL SHAREHOLDERS' EQUITY2,024.9 1,820.0 
Non-controlling interest
11104.4 106.5 
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY$2,883.4 $2,489.1 
Subsequent events included in Note 9
On behalf of the Board of Directors:
/s/ Paul Benson /s/ Sandra M. Dodds
Paul Benson Sandra M. Dodds
Director Director
November 5, 2025November 5, 2025
The accompanying notes to the Condensed Interim Consolidated Financial Statements are an integral part of these financial statements.
OceanaGold Corporation
1
OceanaGold Corporation
Condensed Interim Consolidated Statements of Income
(in millions of United States dollars, except per share data - unaudited)
Three months ended
September 30
Nine months ended
September 30
Notes2025202420252024
Revenue
12$448.5 $345.2 $1,240.8 $866.7 
Cost of sales, excluding depreciation and amortization(208.4)(149.7)(532.4)(445.4)
Depreciation and amortization(62.3)(86.0)(170.9)(220.7)
General and administration(7.5)(11.3)(35.6)(42.8)
Indirect taxes(7.3)(5.5)(17.7)(18.0)
Additional Government Share
13(16.6)(15.5)(34.3)(15.5)
Operating profit146.4 77.2 449.9 124.3 
Other (expense) income
Foreign exchange (loss) gain(2.0)1.3 (5.2)(4.9)
Gain on disposal of assets
14– – – 17.0 
Interest expense and finance costs
8(2.8)(5.2)(9.2)(18.5)
Interest income1.8 0.9 4.9 2.3 
NYSE / PSE listing costs
11(1.6)(5.4)(1.6)(10.9)
Restructuring expense– – – (1.9)
Other (expense) income(0.1)(2.1)0.1 (3.0)
Profit before income tax141.7 66.7 438.9 104.4 
Income tax expense(48.6)(6.1)(127.0)(15.1)
Net profit$93.1 $60.6 $311.9 $89.3 
Attributable to:
Non-controlling interest
11$5.9 $0.7 $10.9 $4.0 
Equity holders of the Company
$87.2 $59.9 $301.0 $85.3 
Earnings per share attributable to shareholders of the Company
Basic
15$0.38 $0.25 $1.30 $0.36 
Diluted
15$0.37 $0.25 $1.28 $0.35 
Weighted average number of common shares outstanding:
(in millions)
Basic
230.2236.5232.0236.6
Diluted
233.0242.2234.4241.8
The accompanying notes to the Condensed Interim Consolidated Financial Statements are an integral part of these financial statements.
OceanaGold Corporation
2
OceanaGold Corporation
Condensed Interim Consolidated Statements of Comprehensive Income
(in millions of United States dollars, except per share data - unaudited)
Three months ended
September 30
Nine months ended
September 30
Notes2025202420252024
Net profit12$93.1 $60.6 $311.9 $89.3 
Other comprehensive income
Items that may be reclassified to profit or loss
Currency translation (loss) gain$(27.2)$20.3 $19.7 $8.6 
Gain (loss) on fair value of derivative hedges0.5 (2.7)1.0 (2.2)
Items that will not be reclassified to profit or loss
Gain on sale of investments– – 0.7 – 
Other comprehensive (loss) income, net of tax(26.7)17.6 21.4 6.4 
Total comprehensive income$66.4 $78.2 $333.3 $95.7 
Total comprehensive income attributable to:
Non-controlling interests115.9 0.7 10.9 4.0 
Equity holders of the Company60.5 77.5 322.4 91.7 
The accompanying notes to the Condensed Interim Consolidated Financial Statements are an integral part of these financial statements.
OceanaGold Corporation
3
OceanaGold Corporation
Condensed Interim Consolidated Statements of Cash Flows
(in millions of United States dollars - unaudited)
Notes
Three months ended September 30
Nine months ended September 30
2025
2024
2025
2024
Operating activities
Net profit
$
93.1 
$
60.6 
$
311.9 
$
89.3 
Items not affecting cash
Depreciation and amortization expense
62.3 
86.0 
170.9 
220.7 
Stock-based compensation expense
8.4 
7.1 
27.8 
15.5 
Unrealized foreign exchange loss (gain)
2.0 
(1.3)
5.2 
4.9 
Gain on disposal of assets
14
– 
– 
– 
(17.0)
Non-cash other expenses
3.3 
2.9 
3.5 
5.3 
Income tax expense
48.6 
6.1 
127.0 
15.1 
Changes in working capital
16
9.8 
3.3 
(20.3)
14.0 
Net cash provided by operating activities
227.5 
164.7 
626.0 
347.8 
Investing activities
Payment for property, plant and equipment
(41.3)
(16.7)
(75.6)
(30.3)
Payment for mining assets
(91.9)
(82.3)
(268.4)
(249.1)
Proceeds from sale of assets
14
0.1 
– 
1.3 
30.3 
Net cash used in investing activities
(133.1)
(99.0)
(342.7)
(249.1)
Financing activities
Repayment of lease liabilities
(6.6)
(10.0)
(20.8)
(25.9)
Repayment of debt
8
– 
(40.5)
(2.8)
(101.2)
Proceeds from debt
8
– 
– 
– 
50.0 
Proceeds from OGP listing
11
– 
– 
– 
106.0 
OGP listing costs
11
– 
(5.4)
– 
(10.9)
Share buybacks
9
(39.0)
(7.8)
(79.6)
(7.8)
Dividends paid to equity holders of the Company
(6.9)
– 
(20.9)
(7.0)
Dividends paid to non-controlling interests
11
(5.0)
(3.0)
(13.0)
(3.0)
Net cash (used in) provided by financing activities
(57.5)
(66.7)
(137.1)
0.2 
Effect of exchange rate changes on cash
(0.7)
2.3 
(4.8)
(2.0)
Net increase in cash and cash equivalents
36.2 
1.3 
141.4 
96.9 
Cash and cash equivalents at the beginning of the period
298.7 
157.3 
193.5 
61.7 
Cash and cash equivalents at the end of the period
$
334.9 
$
158.6 
$
334.9 
$
158.6 
Supplemental cash flow information (Note 16).
The accompanying notes to the Condensed Interim Consolidated Financial Statements are an integral part of these financial statements.
OceanaGold Corporation
4
OceanaGold Corporation
Condensed Interim Consolidated Statements of Changes in Equity
(in millions of United States dollars, except for per share data - unaudited)
Shares
(in millions)
Share Capital
Contributed
Surplus
Other Reserves
Retained
Earnings
Non-
controlling
Interest
Total
Equity
Balance at January 1, 2025234.2$1,219.5 $64.8 $(75.9)$611.6 $106.5 $1,926.5 
Comprehensive income for the period
–– – 21.4 301.0 10.9 333.3 
Employee share rights:
Share-based payments
–– 4.0 – – – 4.0 
Exercise of rights
0.94.8 (4.0)– – – 0.8 
Reclassification of performance share rights
–– – – – – – 
Share buybacks(6.1)(33.3)– – (46.3)– (79.6)
Share purchase obligation–– – (21.8)– – (21.8)
Dividends declared–– – – (20.9)(13.0)(33.9)
Balance at September 30, 2025
229.0$1,191.0 $64.8 $(76.3)$845.4 $104.4 $2,129.3 
Balance at January 1, 2024235.8$1,236.2 $73.2 $(14.6)$438.3 $– $1,733.1 
Recognition of non-controlling interest
–– – (6.8)– 111.2 104.4 
Comprehensive income for the period
–– – 6.4 85.3 4.0 95.7 
Employee share rights:
Share-based payments
–– 12.5 – – – 12.5 
Forfeiture of rights
–– (2.1)– – – (2.1)
Exercise of rights
1.37.5 (13.6)– – – (6.1)
Reclassification of
performance share rights
–– (12.6)– – – (12.6)
Share buybacks(1.1)(7.8)– – – – (7.8)
Dividends declared–– – – (14.1)(3.0)(17.1)
Balance at September 30, 2024236.0$1,235.9 $57.4 $(15.0)$509.5 $112.2 $1,900.0 
The accompanying notes to the Condensed Interim Consolidated Financial Statements are an integral part of these financial statements.
OceanaGold Corporation
5
OceanaGold Corporation
Notes to the Condensed Interim Consolidated Financial Statements
For the Three and Nine Months ended September 30, 2025 and 2024
(Expressed in millions of United States dollars, unless otherwise stated - unaudited)
1    NATURE OF OPERATIONS
OceanaGold Corporation (the “Company” or “OceanaGold”) is domiciled in British Columbia, Canada and the registered address of the Company is Suite 1020, 400 Burrard Street, Vancouver, British Columbia, V6C 3A6, Canada. The Company’s common shares trade under the symbol 'OGC' on the Toronto Stock Exchange (“TSX”) in Canada and under the symbol 'OCANF' on the OTCQX market in the United States.
The Company is engaged in the exploration, development and operation of gold and gold/copper mines. OceanaGold operates 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.
The unaudited condensed interim consolidated financial statements were approved by the Board of Directors on November 5, 2025.
2    BASIS OF PREPARATION
These unaudited condensed interim consolidated financial statements have been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (“IFRS Accounting Standards”), as applicable to the preparation of condensed interim consolidated financial statements including IAS 34. Accordingly, certain disclosures included in the annual financial statements prepared in accordance with IFRS Accounting Standards have been condensed or omitted. These unaudited condensed interim consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements for the year ended December 31, 2024.
3    ACCOUNTING POLICIES
The accounting policies applied in the preparation of these unaudited condensed interim consolidated financial statements are consistent with those applied and disclosed in the Company’s audited consolidated financial statements for the year ended December 31, 2024. The Company’s interim results are not necessarily indicative of its results for a full year.
New IFRS accounting standards and pronouncements - not yet adopted
Amendments to IFRS 9: Financial Instruments and IFRS 7: Financial Instruments: Disclosures
In May 2024, the IASB issued amendments to update classification and measurement requirements in IFRS 9: Financial Instruments, and related disclosure requirements in IFRS 7: Financial Instruments: Disclosures. The IASB clarified the recognition and derecognition date of certain financial assets and liabilities, and amended the requirements related to settling financial liabilities using an electronic payment system. It also clarified how to assess the contractual cash flow characteristics of financial assets in determining whether they meet the solely payments of principal and interest criterion, including financial assets that have environmental, social and corporate governance (ESG)-linked features and other similar contingent features. The IASB added disclosure requirements for financial instruments with contingent features that do not relate directly to basic lending risks and costs, and amended disclosures relating to equity instruments designated at fair value through other comprehensive income.
The amendments are effective for annual periods beginning on or after January 1, 2026 with early application permitted. The Company is currently assessing the effect of these amendments on our financial statements.
IFRS 18: Presentation and Disclosure in Financial Statements
In April 2024, the IASB issued IFRS 18: Presentation and Disclosure of Financial Statements ("IFRS 18"), which replaces IAS 1: Presentation of Financial Statements. IFRS 18 introduces a specified structure for the income statement by requiring income and expenses to be presented into the three defined categories of operating, investing and financing, and by specifying certain defined totals and subtotals. Where company-specific measures related to the income statement are provided, IFRS 18 requires companies to disclose explanations around these measures, which are referred to as management-defined performance measures. IFRS 18 also provides additional guidance on principles of aggregation and disaggregation which apply to the primary financial statements and the notes. IFRS 18
OceanaGold Corporation
6
OceanaGold Corporation
Notes to the Condensed Interim Consolidated Financial Statements
For the Three and Nine Months ended September 30, 2025 and 2024
(Expressed in millions of United States dollars, unless otherwise stated - unaudited)
will not affect the recognition and measurement of items in the financial statements, nor will it affect which items are classified in other comprehensive income and how these items are classified.
The standard is effective for reporting periods beginning on or after January 1, 2027, including for interim financial statements. Retrospective application is required and early application is permitted. The Company is currently assessing the effect of this new standard to its financial statements.
4    CRITICAL ESTIMATES AND JUDGEMENTS
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. Areas of estimation and judgement that have the most significant effect on the amounts recognized in these financial statements are disclosed annually, and last disclosed in Note 4 of the Company's consolidated financial statements for the year ended December 31, 2024.
5    TRADE AND OTHER RECEIVABLES
September 30
2025		December 31
2024
Trade receivables$26.6 $5.2 
Indirect tax receivables35.1 21.8 
Security deposits30.9 27.7 
Other receivables6.3 3.1 
Total trade and other receivables
$98.9 $57.8 
Current
$38.3 $13.7 
Non-Current
$60.6 $44.1 
6    INVENTORIES
September 30
2025		December 31
2024
Ore$175.4 $219.1 
Gold in circuit31.7 27.9 
Gold on hand1.2 1.5 
Gold and copper concentrate6.8 16.0 
Maintenance stores101.8 86.0 
Total inventories$316.9 $350.5 
Current$184.8 $239.5 
Non-Current$132.1 $111.0 
OceanaGold Corporation
7
OceanaGold Corporation
Notes to the Condensed Interim Consolidated Financial Statements
For the Three and Nine Months ended September 30, 2025 and 2024
(Expressed in millions of United States dollars, unless otherwise stated - unaudited)
7    MINERAL PROPERTIES, PLANT AND EQUIPMENT
The following table summarizes the net book value of mineral properties, plant and equipment as at September 30, 2025 and the changes during the period then ended:
Mineral propertiesBuildings,
plant and
equipment		Construction-in-progressLandExploration and evaluationTotal
Net book value
At January 1, 2025		$808.7 $684.7 $191.1 $57.1 $88.1 $1,829.7 
Additions 120.7 82.3 129.8 – 20.3 353.1 
Transfers 131.1 42.8 (169.6)– (4.3)– 
Disposals– (0.6)– – – (0.6)
Amortization (56.8)(75.6)– – – (132.4)
Change in
rehabilitation provision 		– 9.0 – 0.3 – 9.3 
Foreign exchange movements and other16.0 4.1 1.4 1.1 1.8 24.4 
At September 30,
2025		$1,019.7 $746.7 $152.7 $58.5 $105.9 $2,083.5 
Cost$2,845.8 $1,903.7 $152.7 $58.5 $105.9 $5,066.6 
Accumulated amortization and impairment(1,826.1)(1,157.0)– – – (2,983.1)
At September 30,
2025		$1,019.7 $746.7 $152.7 $58.5 $105.9 $2,083.5 
Construction-in-progress mainly includes the underground operations and development projects at Didipio Mine in the Philippines, the Waihi North Project in New Zealand, and waste storage facility development and the tailings storage facility lift construction at the Haile Gold Mine in the United States.
8    DEBT
Revolving bank credit facility
The Company has a revolving bank credit facility (the "Facility") with seven international banks providing $200.0 million committed plus a $50.0 million uncommitted accordion. The Facility, entered into in December 2023 with a term of 4 years, is secured against present and future assets, property and undertakings and matures on December 31, 2027.
As at September 30, 2025, the Company was in full compliance with all covenant obligations and has $200.0 million (December 31, 2024: $200.0 million) available to the Company under the Facility.
Fleet facility
In 2020, the Company entered into a $10.0 million fleet facility arrangement for mining equipment financing, of which $9.7 million was drawn. At September 30, 2025 there was nil (December 31, 2024: $2.8 million) drawn as the Company repaid all amounts under the fleet facility during the period. There are no additional amounts available under the fleet facility.
OceanaGold Corporation
8
OceanaGold Corporation
Notes to the Condensed Interim Consolidated Financial Statements
For the Three and Nine Months ended September 30, 2025 and 2024
(Expressed in millions of United States dollars, unless otherwise stated - unaudited)
9    SHARE CAPITAL
Authorized capital
The Company is authorized to issue an unlimited number of common shares with no par value.
Share Consolidation
On June 23, 2025, a share consolidation was completed on the basis of one post-consolidation common share for every 3 pre-consolidation common shares. The consolidation reduced the number of common shares issued and outstanding from 693,379,818 common shares to 231,126,566 common shares. The common shares commenced trading on the Toronto Stock Exchange (the "TSX") on a post-consolidation basis on the opening of trading on June 23, 2025. The number of shares issuable under the Company's stock-based compensation plans were proportionately adjusted upon completion of the consolidation. All information relating to earnings per share, issued and outstanding common shares, share rights, deferred units, and per share amounts in these financial statements have been adjusted retrospectively to reflect the share consolidation.
Dividends
During the quarter ended September 30, 2025, the Company declared and paid a dividend of $0.03 per common share totaling $6.9 million to equity holders of the Company (quarter ended September 30, 2024: declared a dividend of $0.03 per common share totaling $7.1 million). During the year to date period ended September 30, 2025, the Company declared and paid three dividends of $0.03 per common share totaling $20.9 million to equity holders of the Company (year to date period ended September 30, 2024: declared two dividends of $0.03 per common share totaling $14.1 million and paid $0.03 per common share totaling $7.0 million)
On November 5, 2025, OceanaGold declared a dividend of $0.03 per common share.
Share buyback
In July 2025, the Company received approval from the TSX to buyback up to 23 million common shares, pursuant to a Normal Course Issuer Bid ("NCIB") in the open market through the facilities of the TSX or alternative Canadian trading systems over the next 12 months. During the nine months ended September 30, 2025, the Company repurchased and cancelled 6,118,400 common shares for consideration of $79.6 million.
In July 2025, the TSX accepted the Company's entry into an automatic securities purchase plan ("ASPP") in connection with the NCIB. The ASPP allows for the purchase of common shares under the NCIB at times when the Company would ordinarily not be permitted to purchase shares due to regulatory restrictions and customary self-imposed blackouts. As at September 30, 2025, an obligation to purchase shares for total consideration of $21.8 million was recognized under the ASPP.
On November 5, 2025, the Board of Directors approved a 75% increase in the 2025 share repurchase program to a maximum of $175 million of common shares in the open market through the facilities of the TSX or alternative Canadian trading systems under a NCIB program.
OceanaGold Corporation
9
OceanaGold Corporation
Notes to the Condensed Interim Consolidated Financial Statements
For the Three and Nine Months ended September 30, 2025 and 2024
(Expressed in millions of United States dollars, unless otherwise stated - unaudited)
10    STOCK-BASED COMPENSATION
Performance share rights plan
The following table summarizes the outstanding rights granted under the performance share rights plan as at September 30, 2025 and December 31, 2024 and the changes during the periods then ended:
September 30
2025
Units
December 31
2024
Units
At January 15,699,442 5,641,150 
Granted1,613,031 2,704,175 
Forfeited(675,430)(687,465)
Exercised(1,127,253)(1,958,418)
At period end5,509,790 5,699,442 
Exercisable at period end– – 
The performance share rights outstanding at September 30, 2025 had a weighted average remaining life of 1.5 years with no exercise price.
Performance share rights granted to designated participants may from time to time vest when the Company meets target milestones for the applicable performance period, in accordance with the vesting schedule established at the time of grant by the Board. There are two components to each performance share right: a performance condition based on the Company's share price performance relative to peers ("TSR") and a service condition. The performance condition weighting varies according to the designated participants’ job levels with vesting up to 200% of target for Executives. Upon vesting, the performance share rights are payable partly in shares and partly in cash in accordance with the plan. The Board has further discretion should they choose to exercise it.
In 2025, the 2022 performance rights vested at 156%. Settlement was partly in shares and partly in cash.
At September 30, 2025, the fair value of the cash settled portion of the outstanding unvested performance rights and corresponding liability of $18.1 million (December 31, 2024: $17.0 million) is recorded within employee benefits.
Deferred Unit Plan ("DUP")
The following table summarizes the outstanding deferred units granted under the deferred unit plan as at September 30, 2025 and December 31, 2024 and the changes during the periods then ended:
September 30
2025
Units
December 31
2024
Units
At January 1365,768 354,364 
Granted53,516 80,011 
Exercised– (68,607)
At period end419,284 365,768 
Exercisable at period end– – 
The fair value of the units granted under the DUP is calculated as the estimated future cash flow and it is remeasured at each reporting date and at the date of settlement. Any changes in fair value are recognized in the Condensed Interim Consolidated Statements of Income with a corresponding increase or decrease in liability. At September 30, 2025, the fair value of the units and corresponding liability was $9.0 million (December 31, 2024: $3.0 million) at a share price of $21.35 (CAD$29.71).
OceanaGold Corporation
10
OceanaGold Corporation
Notes to the Condensed Interim Consolidated Financial Statements
For the Three and Nine Months ended September 30, 2025 and 2024
(Expressed in millions of United States dollars, unless otherwise stated - unaudited)
11    NON-CONTROLLING INTEREST
On May 13, 2024, OceanaGold Philippines, Inc. ("OGP"), a wholly owned subsidiary of the Company, completed a secondary offering and public listing (the "Offering") of 20% of the outstanding common shares of OGP on the Philippines Stock Exchange ("PSE") for net proceeds of $95.1 million (gross proceeds of $106.0 million less listing costs of $10.9 million). OGP 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 at least 10% of its common shares on the PSE. Immediately prior to the Offering, the carrying amount of the net assets of OGP was $556.1 million, resulting in the recognition of a non-controlling interest ("NCI") of $111.2 million and offsetting decrease in the equity attributable to the shareholders of the Company.
For the nine months ended September 30, 2025, there was $10.9 million of net profit and $13.0 million of dividends paid to the NCI resulting in a closing NCI balance of $104.4 million at September 30, 2025.
The following is the summarized balance sheet and NCI of OGP as at September 30, 2025 and December 31, 2024:
September 30
2025
December 31
2024
Current assets$156.6 $127.5 
Non-current assets552.1 541.4 
Total assets708.7 668.9 
Current liabilities176.8 126.9 
Non-current liabilities9.7 9.4 
Total liabilities186.5 136.3 
Net assets$522.2 $532.6 
Equity attributable to owners of the Company$417.7 $426.1 
Non-controlling interest$104.4 $106.5 
Non-controlling interest %20 %20 %
The following is the summarized income statement of OGP for the three and nine months ended September 30, 2025 and 2024:
Three months ended
September 30
Nine months ended September 30
2025
2024
2025
2024
Revenue
$
141.7 
$
102.1 
$
317.2 
$
263.0 
Expenses
(112.0)
(98.1)
(262.6)
(223.4)
Net profit
$
29.7 
$
4.0 
$
54.6 
$
39.6 
Profit attributable to shareholders of the Company
$
23.8 
$
3.3 
$
43.7 
$
35.6 
Profit attributable to non-controlling interests
$
5.9 
$
0.7 
$
10.9 
$
4.0 
Total net profit
$
29.7 
$
4.0 
$
54.6 
$
39.6 
OceanaGold Corporation
11
OceanaGold Corporation
Notes to the Condensed Interim Consolidated Financial Statements
For the Three and Nine Months ended September 30, 2025 and 2024
(Expressed in millions of United States dollars, unless otherwise stated - unaudited)
12    REVENUE
Three months ended
September 30
Nine months ended September 30
2025
2024
2025
2024
Gold bullion
$
322.2 
$
255.8 
$
962.0 
$
647.8 
Gold in concentrate1
82.0 
57.6 
169.2 
138.3 
Copper in concentrate1
42.8 
32.2 
102.3 
81.9 
Silver
6.3 
3.5 
17.5 
8.9 
453.3 
349.1 
1,251.0 
876.9 
Less: Concentrate treatment, refining and selling costs
(4.8)
(3.9)
(10.2)
(10.2)
Total Revenue
$
448.5 
$
345.2 
$
1,240.8 
$
866.7 
1. All concentrate sales are generated by the Didipio mine.
13    ADDITIONAL GOVERNMENT SHARE AT DIDIPIO
Three months ended
September 30
Nine months ended
September 30
2025202420252024
Gross mining revenue
$140.7 $101.5 $314.5 $259.9 
Less: Allowable deductions(50.6)(52.4)(141.5)(150.7)
Less: Amortization deduction(3.3)(3.3)(9.8)(9.8)
Net Revenue per the FTAA$86.8 $45.8 $163.2 $99.4 
Entitlement share60 %60 %60 %60 %
Total Government Share
(60% of Net Revenue per the FTAA)
$52.1 $27.4 $97.9 $59.6 
Deduct: Free-carried interest(2.0)(1.0)(5.2)(3.6)
Deduct: Production taxes(8.8)(3.1)(21.8)(20.1)
Deduct: Income tax(24.7)(6.9)(36.6)(20.4)
Carried forward balance utilization (deduction)— (0.9)— — 
Additional Government Share$16.6 $15.5 $34.3 $15.5 
Under the FTAA, “Net Revenue” is the gross mining revenues derived from operations, less allowable deductions and an amortization deduction.
Allowable Deductions under the FTAA include expenses attributed to exploration, development and production which includes, expenses relating to mining, processing, exploration, capitalised pre-stripping, royalties, rehabilitation, marketing, administration, community and social development, depreciation and amortization and interest charged on borrowings.
All taxes and fees payable to the Philippines Government, including corporate income tax and indirect taxes such as excise, local business, property and withholding taxes as well as amounts accrued under the free-carried interest, are deducted from the Government’s 60% share of Net Revenue to arrive at any Additional Government Share payable.
The Additional Government Share accrued for the period ended September 30, 2025 of $34.3 million (September 30, 2024: Nil) is recorded within trade and other payables. The Company made an Additional Government Share payment of $8.1 million in April 2025 related to 2024 amounts accrued at December 31, 2024.
OceanaGold Corporation
12
OceanaGold Corporation
Notes to the Condensed Interim Consolidated Financial Statements
For the Three and Nine Months ended September 30, 2025 and 2024
(Expressed in millions of United States dollars, unless otherwise stated - unaudited)
14    BLACKWATER PROJECT SALE
On June 24, 2024, OceanaGold completed the sale of the Company's interest in the Blackwater project in New Zealand, for cash consideration of $30.0 million. As a result of the sale, a pre-tax $17.6 million gain was recognized during the nine months ended September 30, 2024.
15 EARNINGS PER SHARE
Three months ended
Nine months ended
September 30
September 30
2025
2024
2025
2024
Net profit attributable to shareholders of the Company
$
87.2 
$
59.9 
$
301.0 
$
85.3 
Basic weighted average number of shares (in millions)
230.2
236.5
232.0
236.6
Effect of dilutive securities:
Performance share rights
2.8
5.7
2.4
5.2
Diluted weighted average number of shares (in millions)
233.0
242.2
234.4
241.8
Earnings per share attributable to shareholders of the
Company:
Basic
$
0.38 
$
0.25 
$
1.30 
$
0.36 
Diluted
$
0.37 
$
0.25 
$
1.28 
$
0.35 
16 SUPPLEMENTARY CASH FLOW INFORMATION
Three months ended
Nine months ended
September 30
September 30
2025
2024
2025
2024
Changes in working capital
(Increase) decrease in trade and other receivables
$
(26.0)
$
0.3 
$
(38.8)
$
30.4 
Increase in prepayments
(10.3)
(3.8)
(13.8)
(12.2)
Decrease (increase) in inventories
18.6 
1.4 
(1.4)
28.6 
Increase (decrease) in trade and other payables
42.0 
11.0 
80.9 
(10.5)
Decrease in taxes payable
(9.9)
(3.4)
(40.5)
(20.4)
Decrease in other working capital1
(4.6)
(2.2)
(6.7)
(1.9)
Changes in working capital
$
9.8 
$
3.3 
$
(20.3)
$
14.0 
Other significant cash transactions
Cash taxes paid
$
(10.3)
$
(14.4)
$
(40.3)
$
(20.4)
Cash interest paid
$
– 
$
(2.3)
$
– 
$
(8.7)
Cash interest received
$
1.8 
$
0.8 
$
4.9 
$
2.2 
1 Includes changes in employees benefits and other working capital.

OceanaGold Corporation
13
OceanaGold Corporation
Notes to the Condensed Interim Consolidated Financial Statements
For the Three and Nine Months ended September 30, 2025 and 2024
(Expressed in millions of United States dollars, unless otherwise stated - unaudited)
17 SEGMENT INFORMATION
Operating results of operating segments are reviewed by the Company’s chief operating decision maker ("CODM") to make decisions about resources to be allocated to the segments and to assess their performance. Previously, operating segments were based on the jurisdictions of the Company's operations. To align with how the CODM reviews results and makes decisions about resources, Management updated the reportable operating segments to its four operating mines for the year ended December 31, 2024. The prior year has been adjusted to reflect the change in operating segments. The Company’s general corporate administration costs are included within ‘Corporate and other’ to reconcile the reportable segments to the consolidated financial statements. Significant information relating to the Company's reporting operating segments is as follows:
Three months ended September 30, 2025HaileDidipioMacraesWaihiCorporate
and other		Total
Revenue$118.0 $141.7 $114.5 $74.3 $– $448.5 
Cost of sales, excluding depreciation and amortization(69.3)(56.7)(46.1)(36.3)– (208.4)
Indirect taxes– (7.3)– – – (7.3)
General and administration(0.1)(0.3)– – (7.1)(7.5)
Additional Government Share– (16.6)– – – (16.6)
Depreciation and amortization(21.0)(13.2)(18.1)(9.5)(0.5)(62.3)
Segment operating profit (loss)$27.6 $47.6 $50.3 $28.5 $(7.6)$146.4 
Interest expense and finance costs(2.8)
Interest income1.8 
Foreign exchange loss(2.0)
NYSE listing costs(1.6)
Other expense(0.1)
Income tax expense(48.6)
Net profit$93.1 
OceanaGold Corporation
14
OceanaGold Corporation
Notes to the Condensed Interim Consolidated Financial Statements
For the Three and Nine Months ended September 30, 2025 and 2024
(Expressed in millions of United States dollars, unless otherwise stated - unaudited)
Three months ended September 30, 2024HaileDidipioMacraesWaihiCorporate
and other		Total
Revenue$135.6 $102.1 $73.7 $33.8 $– $345.2 
Cost of sales, excluding depreciation and amortization(37.4)(47.7)(43.2)(21.4)– (149.7)
Indirect taxes– (5.5)– – – (5.5)
General and administration– – – – (11.3)(11.3)
Additional Government Share– (15.5)– – – (15.5)
Depreciation and amortization(49.8)(14.6)(15.2)(5.5)(0.9)(86.0)
Segment operating profit (loss)$48.4 $18.8 $15.3 $6.9 $(12.2)$77.2 
Interest expense and finance costs (5.2)
Interest income 0.9 
Foreign exchange gain 1.3 
PSE listing costs (5.4)
Other expense (2.1)
Income tax expense (6.1)
Net profit$60.6 
Nine months ended September 30, 2025HaileDidipioMacraesWaihiCorporate and otherTotal
Revenue
$449.3 $317.2 $295.0 $179.3 $– $1,240.8 
Cost of sales, excluding depreciation and amortization(166.2)(138.4)(134.0)(93.8)– (532.4)
Indirect taxes– (17.7)– – – (17.7)
General and administration(0.1)(0.7)– – (34.8)(35.6)
Additional Government Share– (34.3)– – – (34.3)
Depreciation and amortization(75.3)(33.0)(38.4)(23.0)(1.2)(170.9)
Segment operating profit (loss)
$207.7 $93.1 $122.6 $62.5 $(36.0)$449.9 
Interest expense and finance costs(9.2)
Interest income4.9 
Foreign exchange loss(5.2)
NYSE listing costs(1.6)
Restructuring expense– 
Other income0.1 
Income tax expense(127.0)
Net profit$311.9 
Capital expenditures
$184.1 $30.2 $73.4 $63.3 $2.1 $353.1 
Total assets
$1,200.0 $706.0 $371.1 $414.3 $192.0 $2,883.4 

OceanaGold Corporation
15
OceanaGold Corporation
Notes to the Condensed Interim Consolidated Financial Statements
For the Three and Nine Months ended September 30, 2025 and 2024
(Expressed in millions of United States dollars, unless otherwise stated - unaudited)
Nine months ended September 30, 2024
HaileDidipio
Macraes
Waihi
Corporate and other
Total
Revenue
$316.4 $263.0 $202.4 $84.9 $– $866.7 
Cost of sales, excluding depreciation and amortization
(158.0)(122.8)(104.8)(59.8)– (445.4)
Indirect taxes– (18.0)– – – (18.0)
General and administration– – – – (42.8)(42.8)
Additional Government Share– (15.5)– – – (15.5)
Depreciation and amortization(129.4)(36.0)(39.0)(15.3)(1.0)(220.7)
Segment operating profit (loss)
$29.0 $70.7 $58.6 $9.8 $(43.8)$124.3 
Interest expense and finance costs
(18.5)
Interest income2.3 
Foreign exchange loss(4.9)
Gain on disposal of assets17.0 
PSE listing costs(10.9)
Restructuring expense(1.9)
Other expense(3.0)
Income tax expense(15.1)
Net profit$89.3 
Capital expenditures
$130.1 $31.0 $82.9 $46.7 $1.9 $292.6 
Total assets
$1,054.2 $696.4 $336.8 $365.4 $117.4 $2,570.2 
18 COMMITMENTS
Capital commitments
The Company has certain capital commitments principally relating to the purchase or lease of property, plant and equipment at Macraes, Waihi and Haile, and the development of mining assets at Macraes, Waihi and Didipio.
The following table summarizes the capital commitments contracted for but not provided for as at September 30, 2025 and December 31, 2024:
September 30
2025		December 31
2024
Purchase of property, plant and equipment$25.2 $6.8 
Development of mining assets21.8 4.6 
Leases not yet commenced3.5 – 
$50.5 $11.4 
19 RELATED PARTIES
There were no significant related party transactions during the period in addition to key management compensation which will be reported in our consolidated financial statements for the year ended December 31, 2025.
OceanaGold Corporation
16
OceanaGold Corporation
Notes to the Condensed Interim Consolidated Financial Statements
For the Three and Nine Months ended September 30, 2025 and 2024
(Expressed in millions of United States dollars, unless otherwise stated - unaudited)
20    CONTINGENCIES
(a)    A subsidiary of the Company, OceanaGold Philippines, Inc. ("OGPI") is party to an addendum agreement with a syndicate of original claim owners, led by the late Mr. J. Gonzales Sr. (the "Gonzales Group"), in respect of a portion of the FTAA area for the Didipio Mine (the “Addendum Agreement”). The Gonzales Group and OGPI are involved in an arbitration proceeding with respect to the Addendum Agreement (the “Arbitration”). The Arbitration commenced in 2000 but is presently suspended due to the Liggayu dispute (discussed below) and the irrevocable resignation of the arbitrator.
In a complaint dated July 4, 2008 before the Philippines Regional Trial Court, a third-party, Mr. Liggayu, disputed the terms of the Addendum Agreement and the rights of the Gonzales Group to claim an interest in the Didipio Mine. Mr. Liggayu alleged that he is the true and beneficial owner and real-party-in-interest of the Didipio mining claims, and sought to enjoin the Company from making any payments to, or in dealing with, the Gonzales Group, and instead to recognize his rights.
In a decision dated March 11, 2025, the Regional Trial Court declared that Mr. Liggayu and the heirs of Mr. Gonzales Sr. are partners on a 50-50 basis, to all the rights, participation and interests, as claim owners of the Didipio mining claims in the name of Mr. Gonzales Sr., beginning January 2007 onwards. It further declared that the rights and entitlements of Mr. Liggayu cannot be directly enforced by him against OceanaGold in the existing agreements, specifically the FTAA, which Mr. Liggayu can internally claim and enforce only against the heirs of Mr. Gonzales Sr, and vice versa.
On April 2, 2025, Mr. Liggayu moved for partial reconsideration of this decision, claiming that, among others, he is the true and lawful owner of the Didipio mining claims; if a partnership exists, it should be from 1985 and should cover all the subject mining claims and not just for Mr. Gonzales Sr’s portion of the claim; and that his rights and entitlements should be directly enforceable by him against OceanaGold. Both the Gonzales Group and OceanaGold filed an opposition to Mr. Liggayu’s partial motion for reconsideration. In a decision dated October 21, 2025, the Regional Trial Court denied Mr. Liggayu’s motion for partial reconsideration. Mr. Liggayu has up to 60 days to appeal the decision.
The Company believes there is no near-term impact on its business or operations as the decisions do not require payment of money by OceanaGold and the Arbitration proceeding is yet to be resolved.
As of September 30, 2025, the Company has accrued $77.4 million ($65.9 million of royalties and $11.5 million related to free- carried interest) pertaining to the Addendum Agreement.
(b)    The Department of Environment and Natural Resources ("DENR"), along with a number of mining companies (including the Company), are parties to a case that began in 2008 whereby a group of NGOs and individuals challenged the constitutionality of the Philippine Mining Act (the “Mining Act”), the FTAAs and Mineral Production Sharing Agreements in the Supreme Court of the Philippines. The petitioners initiated the challenge despite the fact that the Supreme Court had upheld the constitutional validity of both the Mining Act and the FTAAs in an earlier landmark case in 2005. In early 2013, the Supreme Court requested the parties to participate in oral debates on the matter. The case is still pending with the Supreme Court for a decision.
Notwithstanding the fact that the Supreme Court has previously upheld the constitutionality of the Mining Act and FTAAs, the Company is mindful that litigation is an inherently uncertain process and the outcome of the case may adversely affect the operation and financial position of the Company.
(c)    The Company has contingent liabilities under certain contracts, guarantees and other agreements arising in the ordinary course of business on which no loss is anticipated. Bonds have been issued in favour of various New Zealand authorities (Minister for Land Information, Hauraki District Council, Waikato Regional Council and Department of Conservation) as a condition for the grant of water rights and/or resource consents, and rights of access for exploration and Martha mining that amount to $65.2 million (December 31, 2024: $40.3 million).
The Group has also issued bonds in favour of Otago Regional Council, Dunedin City Council, Waitaki District Council, West Coast Regional Council, Buller District Council and Department of Conservation in New Zealand as a condition for the grant of water rights and/or resource consents, and rights of access for the Macraes Gold Mine and the former Globe Progress Mine at the Reefton Restoration Project which amount to approximately $33.6 million (December 31, 2024: $39.8 million). Cash payments on bonds issued to New Zealand authorities would only be paid if the Company did not meet its obligations.
OceanaGold Corporation
17
OceanaGold Corporation
Notes to the Condensed Interim Consolidated Financial Statements
For the Three and Nine Months ended September 30, 2025 and 2024
(Expressed in millions of United States dollars, unless otherwise stated - unaudited)
(d)    The mine operating permit at Haile which became final and effective during the first quarter 2015 included a schedule for estimated financial assurance of $65.0 million over the mine life consisting of $55.0 million in surety bonds or other mechanisms and $10.0 million in an interest-bearing cash trust. The Company's permit was modified and updated in December 2022 with the approval of the Company's Supplemental Environmental Impact Statement application and reclamation plan. The updated permit changed the total estimated financial assurance to $123.4 million, adjusted annually for inflation, over the mine life consisting of $103.4 million in surety bonds and a $20.0 million interest-bearing cash trust. The Company has satisfied its current financial assurance payment requirements by using a surety bond of $103.4 million and has paid $9.6 million in trust funding by September 30, 2025.
The remaining estimated financial assurance of $10.4 million will be paid over the life of the mine with estimated annual assurance payments of $1.8 million to occur from 2026 to 2028, $1.2 million in 2029, and $1.0 million from 2030 to 2031. The timing and amounts of these payments could change due to a number of factors, including changes in regulatory requirements, changes in scope and timing of closure activities. The State of South Carolina in the United States of America requires financial assurance for the estimated costs of mine reclamation and closure, including groundwater quality protection programs.
The surety bond and other financial assurance must be maintained in force continuously throughout the life of the mining operation and may only be released, partially or in full, after the State of South Carolina approves its release.
(e)    A subsidiary of the Company, along with the Philippines Office of the Executive Secretary, the DENR and its Mines and Environment Bureaus, as well as several Local Government Units, are parties to a case filed in April 2024 by an NGO group and two individuals (the "Petitioners”). The Petitioners questioned the approval of the renewal of the FTAA for alleged failure to conduct prior consultation, and made generalized allegations about violations of the Environmental Compliance Certificate and human rights.
Subsequent to the filing of the petition, the Regional Trial Court of Nueva Vizcaya denied the Petitioners' application for a Temporary Environmental Protection Order against OceanaGold. Further, in a resolution dated April 2, 2025, the Regional Trial Court dismissed most of the issues raised by the Petitioners but decided that the issue of whether the Company’s subsidiary is currently engaged in open pit mining is a question of fact that should be decided at trial. Accordingly, a pre-trial is currently being scheduled to consider this issue.
Separately, the Petitioners have submitted a motion for the Court to reconsider its April resolution. All parties have been requested to respond to the motion prior to the Court making a decision.
OceanaGold Corporation
18