Maropost Names Gordana Redzovski Managing Director and VP Revenue, APAC
With two decades of leadership across tech, ecommerce, and retail, Redzovski brings a powerhouse resume to Maropost. She's led teams of 100+, launched fintech products across five countries, and driven double-digit growth for global brands like Lightspeed Commerce, Rithum, and Deliveroo.
"Gordana is a commercial force," said Ross Andrew Paquette, Maropost Founder & CEO. "Her track record in omnichannel retail and fintech speaks for itself—and she's exactly who we need to scale in APAC."
At Rithum, she scaled marketplace and retail media revenue across APAC. At Lightspeed, she launched Lightspeed Payments in Australia, integrated Vend post-acquisition, and developed new revenue streams during the pandemic.
"Maropost is solving real problems for ecommerce merchants and retailers," said Redzovski. "I'm excited to bring that value to more businesses across APAC."
Redzovski's appointment signals Maropost's bold commitment to APAC as a key growth engine, reinforcing its customer-first approach and expanding leadership presence in the region.
About Maropost
Maropost is the AI-powered unified commerce platform trusted by over 5,000 brands—including Original Mattress Factory, Kidstuff, ESR, and Outback Equipment—to streamline operations and elevate customer experiences across ecommerce, retail, marketing, merchandising, and support. Recognized on Deloitte's Technology Fast 500 and G2's leaderboard, Maropost helps fast-moving brands grow smarter. Learn more at maropost.com.
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Details for joining the event are as follows: DATE: August 7, 2025 TIME: 8:00 AM Mountain/10:00 AM Eastern LINK: DIAL-IN NUMBERS: WEBINAR ID: 872 0093 1927 The webcast will include a question-and-answer period. Online participants will be able to ask questions through the Zoom portal. Dial-in participants can email questions directly to [email protected]. Follow Alvopetro on our social media channels at the following links: Twitter - Instagram - LinkedIn - Alvopetro Energy Ltd. is deploying a balanced capital allocation model where we seek to reinvest roughly half our cash flows into organic growth opportunities and return the other half to stakeholders. Alvopetro's organic growth strategy is to focus on the best combinations of geologic prospectivity and fiscal regime. Alvopetro is balancing capital investment opportunities in Canada and Brazil where we are building off the strength of our Caburé and Murucututu natural gas fields and the related strategic midstream infrastructure. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Abbreviations: $000s = thousands of U.S. dollars boepd = barrels of oil equivalent ("boe") per day bopd = barrels of oil and/or natural gas liquids (condensate) per day BRL = Brazilian Real e 3 m 3 /d = thousand cubic metre per day m 3 = cubic metre m 3 /d = cubic metre per day Mcf = thousand cubic feet Mcfpd = thousand cubic feet per day MMcf = million cubic feet MMcfpd = million cubic feet per day NGLs = natural gas liquids (condensate) Q1 2025 = three months ended March 31, 2025 Q2 2024 = three months ended June 30, 2024 Q2 2025 = three months ended June 30, 2025 USD = United States dollars GAAP or IFRS = IFRS Accounting Standards Non-GAAP and Other Financial Measures This news release contains references to various non-GAAP financial measures, non-GAAP ratios, capital management measures and supplementary financial measures as such terms are defined in National Instrument 52-112 Non-GAAP and Other Financial Measures Disclosure. Such measures are not recognized measures under GAAP and do not have a standardized meaning prescribed by IFRS and might not be comparable to similar financial measures disclosed by other issuers. While these measures may be common in the oil and gas industry, the Company's use of these terms may not be comparable to similarly defined measures presented by other companies. The non-GAAP and other financial measures referred to in this report should not be considered an alternative to, or more meaningful than measures prescribed by IFRS and they are not meant to enhance the Company's reported financial performance or position. These are complementary measures that are used by management in assessing the Company's financial performance, efficiency and liquidity and they may be used by investors or other users of this document for the same purpose. Below is a description of the non-GAAP financial measures, non-GAAP ratios, capital management measures and supplementary financial measures used in this news release. For more information with respect to financial measures which have not been defined by GAAP, including reconciliations to the closest comparable GAAP measure, see the " Non-GAAP Measures and Other Financial Measures" section of the Company's MD&A which may be accessed through the SEDAR+ website at Non-GAAP Financial Measures Operating Netback Operating netback is calculated as natural gas, oil and condensate revenues less royalties, production expenses, and transportation expenses. This calculation is provided in the " Operating Netback" section of the Company's MD&A using our IFRS measures. The Company's MD&A may be accessed through the SEDAR+ website at Operating netback is a common metric used in the oil and gas industry used to demonstrate profitability from operations. Non-GAAP Financial Ratios Operating Netback per boe Operating netback is calculated on a per unit basis, which is per barrel of oil equivalent ("boe"). It is a common non-GAAP measure used in the oil and gas industry and management believes this measurement assists in evaluating the operating performance of the Company. It is a measure of the economic quality of the Company's producing assets and is useful for evaluating variable costs as it provides a reliable measure regardless of fluctuations in production. Alvopetro calculated operating netback per boe as operating netback divided by total sales volumes (boe). This calculation is provided in note 3 of the interim condensed consolidated financial statements and in the " Operating Netback" section of the Company's MD&A using our IFRS measures. The Company's MD&A may be accessed through the SEDAR+ website at Operating netback is a common metric used in the oil and gas industry used to demonstrate profitability from operations on a per boe basis. Operating netback margin Operating netback margin is calculated as operating netback per boe divided by the realized sales price per boe. Operating netback margin is a measure of the profitability per boe relative to natural gas, oil and condensate sales revenues per boe and is calculated as follows: Funds Flow from Operations Per Share Funds flow from operations per share is a non-GAAP ratio that includes all cash generated from operating activities and is calculated before changes in non-cash working capital, divided by the weighted average shares outstanding for the respective period. For the periods reported in this news release the cash flows from operating activities per share and funds flow from operations per share is as follows: Capital Management Measures Funds Flow from Operations Funds flow from operations is a non-GAAP capital management measure that includes all cash generated from operating activities and is calculated before changes in non-cash working capital. The most comparable GAAP measure to funds flow from operations is cash flows from operating activities. Management considers funds flow from operations important as it helps evaluate financial performance and demonstrates the Company's ability to generate sufficient cash to fund future growth opportunities. Funds flow from operations should not be considered an alternative to, or more meaningful than, cash flows from operating activities however management finds that the impact of working capital items on the cash flows reduces the comparability of the metric from period to period. A reconciliation of funds flow from operations to cash flows from operating activities is as follows: Net Working Capital Net working capital is computed as current assets less current liabilities. Net working capital is a measure of liquidity, is used to evaluate financial resources, and is calculated as follows: Supplementary Financial Measures " Average realized natural gas price - $/Mcf" is comprised of natural gas sales as determined in accordance with IFRS, divided by the Company's natural gas sales volumes. " Average realized NGL – condensate price - $/bbl" is comprised of condensate sales as determined in accordance with IFRS, divided by the Company's NGL sales volumes from condensate. " Average realized oil price - $/bbl" is comprised of oil sales as determined in accordance with IFRS, divided by the Company's oil sales volumes. " Average realized price - $/boe" is comprised of natural gas, condensate and oil sales as determined in accordance with IFRS, divided by the Company's total natural gas, NGL and oil sales volumes (barrels of oil equivalent). " Dividends per share" is comprised of dividends declared, as determined in accordance with IFRS, divided by the number of shares outstanding at the dividend record date. " Royalties per boe" is comprised of royalties, as determined in accordance with IFRS, divided by the total natural gas, NGL and oil sales volumes (barrels of oil equivalent). " Production expenses per boe" is comprised of production expenses, as determined in accordance with IFRS, divided by the total natural gas, NGL and oil sales volumes (barrels of oil equivalent). " Transportation expenses per boe" is comprised of transportation expenses, as determined in accordance with IFRS, divided by the total natural gas, NGL and oil sales volumes (barrels of oil equivalent). BOE Disclosure The term barrels of oil equivalent ("boe") may be misleading, particularly if used in isolation. A boe conversion ratio of six thousand cubic feet per barrel (6 Mcf/bbl) of natural gas to barrels of oil equivalence is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. All boe conversions in this news release are derived from converting gas to oil in the ratio mix of six thousand cubic feet of gas to one barrel of oil. Contracted Natural Gas Volumes The 2025 contracted daily firm volumes under Alvopetro's long-term gas sales agreement of 400 e 3 m 3 /d (before any provisions for take or pay allowances) represents contracted volumes based on contract referenced natural gas heating value. Alvopetro's reported natural gas sales volumes are prior to any adjustments for heating value of Alvopetro natural gas. Alvopetro's natural gas is approximately 7.8% higher than the contract reference heating value. Therefore, to satisfy the contractual firm deliveries Alvopetro would be required to deliver approximately 371e 3 m 3 /d (13.1MMcfpd). Well Results Data obtained from the 183-D4 well identified in this press release, including hydrocarbon shows, cased-hole logging data, and potential net pay should be considered preliminary until testing, detailed analysis and interpretation has been completed. Hydrocarbon shows can be seen during the drilling of a well in numerous circumstances and do not necessarily indicate a commercial discovery or the presence of commercial hydrocarbons in a well. There is no representation by Alvopetro that the data relating to the 183-D4 well contained in this press release is necessarily indicative of long-term performance or ultimate recovery. The reader is cautioned not to unduly rely on such data as such data may not be indicative of future performance of the well or of expected production or operational results for Alvopetro in the future. Forward-Looking Statements and Cautionary Language This news release contains forward-looking information within the meaning of applicable securities laws. The use of any of the words "will", "expect", "intend", "plan", "may", "believe", "estimate", "forecast", "anticipate", "should" and other similar words or expressions are intended to identify forward-looking information. Forward‐looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to vary significantly from the expectations discussed in the forward-looking statements. These forward-looking statements reflect current assumptions and expectations regarding future events. Accordingly, when relying on forward-looking statements to make decisions, Alvopetro cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties. More particularly and without limitation, this news release contains forward-looking statements concerning the expected natural gas price, gas sales and gas deliveries under Alvopetro's long-term gas sales agreement, future production and sales volumes, the expected timing of production commencement from certain wells, plans relating to the Company's operational activities, proposed exploration and development activities and the timing for such activities, capital spending levels, future capital and operating costs, the timing and taxation of dividends and plans for dividends in the future, anticipated timing for upcoming drilling and testing of other wells, and projected financial results. Forward-looking statements are necessarily based upon assumptions and judgments with respect to the future including, but not limited to the success of future drilling, completion, testing, recompletion and development activities and the timing of such activities, the performance of producing wells and reservoirs, well development and operating performance, expectations and assumptions concerning the timing of regulatory licenses and approvals, equipment availability, environmental regulation, including regulations relating to hydraulic fracturing and stimulation, the ability to monetize hydrocarbons discovered, the outlook for commodity markets and ability to access capital markets, foreign exchange rates, the outcome of any disputes, the outcome of redeterminations, general economic and business conditions, forecasted demand for oil and natural gas, the impact of global pandemics, weather and access to drilling locations, the availability and cost of labour and services, and the regulatory and legal environment and other risks associated with oil and gas operations. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be incorrect. Actual results achieved during the forecast period will vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. Current and forecasted natural gas nominations are subject to change on a daily basis and such changes may be material. In addition, the declaration, timing, amount and payment of future dividends remain at the discretion of the Board of Directors. Although we believe that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because we can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, reliance on industry partners, availability of equipment and personnel, uncertainty surrounding timing for drilling and completion activities resulting from weather and other factors, changes in applicable regulatory regimes and health, safety and environmental risks), commodity price and foreign exchange rate fluctuations, market uncertainty associated with trade or tariff disputes, and general economic conditions. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be incorrect. 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OceanaGold Reports Record Quarterly Net Profit
VANCOUVER, BC, Aug. 6, 2025 /CNW/ - OceanaGold Corporation (TSX: OGC) (OTCQX: OCANF) ("OceanaGold" or the "Company") reported its operational and financial results for the three and six months ended June 30, 2025. The condensed interim consolidated financial statements and Management's Discussion and Analysis ("MD&A") are available at Second Quarter Highlights On track to deliver full year production, cost and capital guidance. Safely and responsibly produced 119,500 ounces of gold and 3,700 tonnes of copper. All-In Sustaining Cost ("AISC") † of $2,027 per ounce in the quarter, resulting in $1,915 year to date, at the low-end of guidance range. Record quarterly revenue of $432 million supported by record average realized gold price of $3,293 per ounce, with no hedges or prepays. Record quarterly net profit of $118 million, record EPS of $0.49 and Adjusted EPS † of $0.51. EBITDA Margin † of 50% and Operating Cash Flow Per Share † of $0.99. Generated strong Free Cash Flow † of $120 million and $189 million year to date, resulting in a trailing 12 month Free Cash Flow † yield 1 of 18%. Cash balance increased by 31% to $299 million from the prior quarter, enhancing an already strong balance sheet with no debt. Repurchased $21 million in common shares during the quarter and $41 million year to date under the share buyback program. On track to buyback up to $100 million of shares in 2025. Declared a $0.03 per share quarterly dividend, payable in September 2025. Completed a 3-for-1 share consolidation in preparation for a planned listing on the New York Stock Exchange in the first half of 2026. Released new drill results at Wharekirauponga extending the strike length, continuing to demonstrate its upside potential. † See "Non-IFRS Financial Information" 1 Calculated as trailing 12 month Free Cash Flow† over the average trailing 12 month market capitalization in USD. Gerard Bond, President and CEO of OceanaGold, said: "We are pleased to have had another safe, responsible and strong quarter, with us being on track to deliver full year production, cost and capital guidance. Our production and cost performance, together with being a fully unhedged gold producer with no prepays, drove record quarterly net profit and earnings per share, and delivered strong Free Cash Flow. With no debt and a strengthening cash balance, our exceptional financial position continues to provide us the flexibility to invest in our exciting organic growth opportunities and deliver enhanced shareholder returns via dividends and our recently renewed and expanded share buyback program. Looking ahead, open pit waste stripping is advancing as planned at Haile in Ledbetter Phase 3 and at Macraes in Innes Mills Phase 8, setting us up for a strong fourth quarter and 2026 as we gain access to higher grade ore at our two largest sites. Permitting of our Waihi North Project, which includes the high-grade Wharekirauponga underground, is progressing and we continue to expect approval by year end. Building on the success at Wharekirauponga, where we recently announced an extension of the strike length, exploration is ongoing on promising targets at all sites as we remain focused on unlocking additional value for shareholders." Share Buyback and Dividend In the first half of 2025, the Company repurchased 3.9 million common shares for consideration of $40.6 million. The Board approved in February 2025 the repurchase in 2025 of up to $100 million of common shares under the Company's NCIB ("Normal Course Issuer Bid") program announced in July 2024. The NCIB was recently extended for another 12 months and upsized to be for up to 10% of issued capital. OceanaGold has declared a $0.03 per share dividend payable in September 2025. Shareholders of record at the close of business in each jurisdiction on August 20, 2025 (the "Record Date") will be entitled to receive payment of the dividend on September 19, 2025. The dividend payment applies to holders of record of the Company's common shares traded on the Toronto Stock Exchange. 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. Results Overview 1 Production is reported on a 100% basis as all operations are controlled by OceanaGold. 2 Attributable to the shareholders of the Company. † See "Non-IFRS Financial Information" Management Update The Company is pleased to announce that Mr. Keenan Jennings has been appointed Chief Exploration Officer effective September 29, 2025. Mr. Jennings will replace Craig Feebrey who is retiring after 10 years with OceanaGold. Mr. Jennings brings over 35 years of global experience in mineral exploration and executive leadership, having held senior roles at BHP, Rio Tinto, and Anglo American. The Company also announces that Peter Sharpe, Chief Operating Officer-Asia Pacific, is leaving OceanaGold to pursue other opportunities outside the gold industry. His last day with the Company will be October 24, 2025. Bhuvanesh Malhotra, current Chief Technical and Project Officer, will become Chief Operating Officer for all operations from September 26, 2025. Mr. Malhotra has been with the Company since early 2024 and has over 25 years of experience in operational and technical roles across multiple commodities and mining methods, driving safety performance, operational excellence and sustainable transformational change. The Company thanks Mr. Feebrey and Mr. Sharpe for their tremendous contributions to OceanaGold and wishes them both well in the future. Conference Call and Webcast: Senior management will host a conference call and webcast to discuss the quarterly results on Thursday, August 7, 2025 at 10:00 am EST (7:00 am PST). To participate in the conference call, please use one of the following methods: Webcast: 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 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 mines: the Haile Gold Mine in the United States of America; Didipio Mine in the Philippines; and the Macraes and Waihi operations in New Zealand. Cautionary Statement for Public Release This public 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 future financial and operating performance of the Company, its mining projects, the future price of gold, the estimation of mineral reserves and mineral resources, the realization of mineral reserve and resource estimates, costs of production, estimates of initial capital, sustaining capital, operating and exploration expenditures, costs and timing of the development of new deposits, costs and timing of the development of new mines, costs and timing of future exploration and drilling programs, timing of filing of updated technical information, anticipated production amounts, requirements for additional capital, governmental regulation of mining operations and exploration operations, timing and receipt of approvals, consents and permits under applicable legislation, environmental risks, title disputes or claims, limitations of insurance coverage and the timing and possible outcome of pending litigation and regulatory matters. All statements in this public release that address events or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as "may", "plans", "expects", "projects", "is expected", "scheduled", "potential", "estimates", "forecasts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases, or may be identified by statements to the effect that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks include, among others: future prices of gold; general business; economic and market factors (including changes in global, national or regional financial, credit, currency or securities markets); changes or developments in global, national or regional political and social conditions; changes in laws (including tax laws) and changes in IFRS or regulatory accounting requirements; the actual results of current production, development and/or exploration activities; conclusions of economic evaluations and studies; fluctuations in the value of the United States dollar relative to the Canadian dollar, the Australian dollar, the Philippines Peso or the New Zealand dollar; changes in project parameters as plans continue to be refined; possible variations of ore grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; political instability or insurrection or war; labour force availability and turnover; adverse judicial decisions, inability or delays in obtaining financing or governmental approvals; inability or delays in the completion of development or construction activities or in the re-commencement of operations; legal challenges to mining and operating permits including the FTAA as well as those factors identified and described in more detail in the section entitled "Risk Factors" contained in the Company's most recent Annual Information Form and the Company's other filings with Canadian securities regulators, which are available on SEDAR+ at under the Company's name. The list is not exhaustive of the factors that may affect the Company's forward-looking statements. The Company's forward-looking statements are based on the applicable assumptions and factors Management considers reasonable as of the date hereof, based on the information available to Management at such time. These assumptions and factors include, but are not limited to, assumptions and factors related to: the Company's ability to carry on current and future operations, including: development and exploration activities; the timing, extent, duration and economic viability of such operations, including any mineral resources or reserves identified thereby; the accuracy and reliability of estimates, projections, forecasts, studies and assessments; the Company's ability to meet or achieve estimates, projections and forecasts; the availability and cost of inputs; the price and market for outputs, including gold; foreign exchange rates; taxation levels; the timely receipt of necessary approvals or permits; the ability to meet current and future obligations; the ability to obtain timely financing on reasonable terms when required; the current and future social, economic and political conditions; and other assumptions and factors generally associated with the mining industry. The Company's forward-looking statements are based on the opinions and estimates of Management and reflect their current expectations regarding future events and operating performance and speak only as of the date hereof. The Company does not assume any obligation to update forward-looking statements if circumstances or Management's beliefs, expectations or opinions should change other than as required by applicable law. There can be no assurance that forward-looking statements will prove to be accurate, and actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements. Accordingly, no assurance can be given that any events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what benefits or liabilities the Company will derive therefrom. For the reasons set forth above, undue reliance should not be placed on forward-looking statements. Non-IFRS Financial Information Adjusted Net Profit/(Loss) and Adjusted Earnings/(Loss) per share These are used by Management to measure the underlying operating performance of the Company. Management believes these measures provide information that is useful to investors because they are important indicators of the strength of the Company's operations and the performance of its core business. Accordingly, such measures are intended to provide additional information and should not be considered in isolation as a substitute for measures of performance prepared in accordance with IFRS. Adjusted Net Profit/(Loss) is calculated as Net Profit/(Loss) less the impact of impairment expenses, write-downs, foreign exchange (gains)/losses, gain on sale of assets, OGP listing costs and restructuring costs related to transitioning certain corporate activities from Australia to Canada. The following table provides a reconciliation of Adjusted Net Profit/(Loss) and Adjusted Earnings/(Loss) per share: $M, except per share amounts Q2 2025 Q1 2025 Q2 2024 YTD 2025 YTD 2024 Net profit 117.6 101.2 34.0 218.8 28.7 Foreign exchange (gain) loss 2.4 0.8 (0.1) 3.2 6.2 Write-down of assets — 0.2 3.5 0.2 4.7 Gain on sale of Blackwater project — — (17.6) — (17.6) Tax expense on sale of Blackwater project — — 4.9 — 4.9 OGP listing costs — — 5.5 — 5.5 Restructuring costs — — 0.4 — 1.9 Adjusted net profit 120.0 102.2 30.6 222.2 34.3 Adjusted weighted average number of common shares - fully diluted 234.8 238.3 242.8 235.4 241.0 Adjusted earnings per share 0.51 0.43 0.13 0.94 0.14 EBITDA and Adjusted EBITDA Management believes that Adjusted EBITDA is a valuable indicator of its ability to generate liquidity by producing operating cash flows to fund working capital needs, service debt obligations and fund capital expenditures. EBITDA is defined as earnings before interest, tax, depreciation and amortization. Adjusted EBITDA is calculated as EBITDA less the impact of impairment expenses, write-downs, gains/losses on disposal of assets, OGP listing costs, foreign exchange gains/losses and other non-recurring costs. EBITDA Margin is calculated as EBITDA divided by revenue. Prior to the first quarter of 2024, Adjusted EBITDA was calculated using an adjustment for a specific portion of unrealized foreign exchange gains/losses rather than the total foreign exchange gain/loss. The comparative quarters have been recalculated adjusting for all foreign exchange gains/losses. The following table provides a reconciliation of EBITDA, Adjusted EBITDA and EBITDA Margin: $M Q2 2025 Q1 2025 Q2 2024 YTD 2025 YTD 2024 Net profit 117.6 101.2 34.0 218.8 28.7 Depreciation and amortization 54.9 53.7 69.9 108.6 134.7 Net interest expense and finance costs 1.5 1.8 6.5 3.3 11.9 Income tax expense on earnings 43.1 35.3 2.0 78.4 9.0 EBITDA 217.1 192.0 112.4 409.1 184.3 Write-down of assets — 0.2 3.5 0.2 4.7 Gain on sale of Blackwater project — — (17.6) — (17.6) Tax expense on sale of Blackwater project — — 4.9 — 4.9 OGP listing costs — — 5.5 — 5.5 Restructuring expense — — 0.4 — 1.9 Foreign exchange (gain) loss 2.4 0.8 (0.1) 3.2 6.2 Adjusted EBITDA 219.5 193.0 109.0 412.5 189.9 Revenue 432.4 359.9 251.2 792.3 521.5 EBITDA Margin 50 % 53 % 45 % 52 % 35 % Cash Costs and AISC Cash Costs are a common financial performance measure in the gold mining industry; however, it has no standard meaning under IFRS. Management uses this measure to monitor the performance of its mining operations and its ability to generate positive cash flows, both on an individual site basis and an overall company basis. Cash Costs include mine site operating costs plus indirect taxes and selling cost net of by-product sales and are then divided by ounces sold. In calculating Cash Costs, the Company includes copper and silver by-product credits as it considers the cost to produce the gold is reduced as a result of the by-product sales incidental to the gold production process, thereby allowing Management and other stakeholders to assess the net costs of gold production. The measure is not necessarily indicative of cash flow from operations under IFRS or operating costs presented under IFRS. Management believes that the AISC measure provides additional insight into the costs of producing gold by capturing all of the expenditures required for the discovery, development and sustaining of gold production and allows the Company to assess its ability to support capital expenditures to sustain future production from the generation of operating cash flows, both on an individual site basis and an overall company basis, while maintaining current production levels. Management believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors use this information to evaluate the Company's performance and ability to generate cash flow per ounce sold. AISC is calculated as the sum of Cash Costs, capital expenditures and exploration costs that are sustaining in nature and corporate G&A costs. AISC is divided by ounces sold to arrive at AISC per ounce. Prior to the first quarter of 2025, Didipio's AISC calculation excluded local corporate G&A costs which is consistent with the calculation of AISC for the other operations. In order to align the Company's reporting of AISC with local reporting requirements in the Philippines, Management has included local corporate G&A costs in Didipio's AISC calculation beginning in the first quarter of 2025. The following table provides a reconciliation of consolidated Cash Costs and AISC: 1 Excludes the Additional Government Share related to the FTAA at Didipio of $10.2 million, $7.5 million and $17.7 million for the second quarter, first quarter and year to date 2025, respectively, as it is considered in nature of an income tax. The following tables provides a reconciliation of Cash Costs and AISC for each operation: Haile $M, except per oz amounts Q2 2025 Q1 2025 Q2 2024 YTD 2025 YTD 2024 Cash costs of sales 53.9 45.6 50.5 99.5 103.7 By-product credits (1.9) (1.9) (0.8) (3.8) (1.5) Inventory adjustments (2.8) (3.0) 4.0 (5.8) 16.0 Freight, treatment and refining charges 0.2 0.2 0.1 0.4 0.2 Total Cash Costs (net) 49.4 40.9 53.8 90.3 118.4 Sustaining capital and leases 16.2 10.4 7.9 26.6 16.9 Deferred stripping and capitalized mining 28.0 36.4 18.4 64.4 26.6 Onsite exploration and drilling 0.1 0.8 — 0.9 — Total AISC 93.7 88.5 80.1 182.2 161.9 Gold sales (koz) 49.5 57.2 39.8 106.7 81.0 Cash Costs ($/oz) 997 715 1,351 846 1,462 AISC ($/oz) 1,890 1,551 2,008 1,708 1,998 Didipio $M, except per oz amounts Q2 2025 Q1 2025 Q2 2024 YTD 2025 YTD 2024 Cash costs of sales 38.3 32.1 35.5 70.4 71.6 By-product credits (30.9) (31.2) (23.3) (62.1) (51.5) Royalties 2.4 1.6 1.6 4.0 3.0 Indirect taxes 5.7 4.7 4.8 10.4 10.4 Inventory adjustments (0.7) 4.5 (5.4) 3.8 (0.6) Freight, treatment and refining charges 3.2 3.8 3.3 7.0 7.2 Total Cash Costs (net) 18.0 15.5 16.5 33.5 40.1 Sustaining capital and leases 7.0 2.7 5.3 9.7 9.9 Deferred stripping and capitalized mining 1.1 1.9 1.8 3.0 3.7 General and administration 1 0.2 0.1 — 0.3 — Total AISC 26.3 20.2 23.6 46.5 53.7 Gold sales (koz) 20.6 17.8 18.9 38.4 50.7 Cash Costs ($/oz) 873 871 874 872 791 AISC 1 ($/oz) 1,287 1,130 1,250 1,214 1,059 1 Excludes the Additional Government Share of FTAA at Didipio of $10.2 million, $7.5 million and $17.7 million for the second quarter, first quarter, and year to date 2025, respectively, as it is considered in nature of an income tax. Macraes $M, except per oz amounts Q2 2025 Q1 2025 Q2 2024 YTD 2025 YTD 2024 Cash costs of sales 43.3 39.2 24.1 82.5 53.7 Less: by-product credits — (0.1) (0.1) (0.1) (0.1) Royalties 2.6 0.7 2.3 3.3 2.2 Inventory adjustments 5.9 (7.6) 2.2 (1.7) 5.2 Freight, treatment and refining charges 0.3 0.2 0.2 0.5 0.4 Total Cash Costs (net) 52.1 32.4 28.7 84.5 61.4 Sustaining capital and leases 8.4 9.4 6.8 17.8 13.2 Deferred stripping and capitalized mining 14.2 12.3 25.4 26.5 44.1 Onsite exploration and drilling 0.1 0.6 0.4 0.7 1.0 Total AISC 74.8 54.7 61.3 129.5 119.7 Gold sales (koz) 34.8 23.7 26.5 58.5 58.7 Cash Costs ($/oz) 1,496 1,369 1,085 1,444 1,047 AISC ($/oz) 2,146 2,313 2,319 2,213 2,041 Waihi $M, except per oz amounts Q2 2025 Q1 2025 Q2 2024 YTD 2025 YTD 2024 Cash costs of sales 30.7 26.8 18.0 57.5 37.5 By-product credits (2.6) (2.1) (1.1) (4.7) (2.1) Royalties 0.6 0.5 0.3 1.1 0.6 Inventory adjustments (1.4) (2.3) — (3.7) (0.2) Add: Freight, treatment and refining charges — 0.1 0.1 0.1 0.1 Total Cash Costs (net) 27.3 23.0 17.3 50.3 35.9 Sustaining capital and leases 2.2 4.3 1.8 6.5 4.3 Deferred stripping and capitalized mining 5.7 4.7 6.1 10.4 11.6 Onsite exploration and drilling 0.5 0.2 0.7 0.7 1.9 Total AISC 35.7 32.2 25.9 67.9 53.7 Gold sales (koz) 16.4 15.9 10.6 32.3 22.2 Cash Costs ($/oz) 1,670 1,445 1,635 1,559 1,617 AISC ($/oz) 2,190 2,019 2,434 2,106 2,418 Net Cash/(Debt) Net Cash/(Debt) has been calculated as total debt less cash and cash equivalents. Management believes this is a useful indicator to be used in conjunction with other liquidity and leverage ratios to assess the Company's financial health. Prior to 2024, lease liabilities were included in the calculation of Net Cash/(Debt). The change in respect of 2024 is consistent with the generally adopted approach to the calculation of Net Cash/(Debt). The comparative quarters have been recalculated excluding lease liabilities. The following table provides a reconciliation of Net Cash/(Debt): 1 Fleet facility arrangement for mining equipment financing was fully repaid in March 2025. There are no additional amounts available under the fleet facility. Operating Cash Flow per share Operating Cash Flow per share before working capital movements is calculated as the cash flows provided by operating activities adjusted for changes in working capital then divided by the fully diluted adjusted weighted average number of common shares issued and outstanding. The following table provides a reconciliation of total fully diluted Operating Cash Flow per share: Free Cash Flow Free Cash Flow has been calculated as cash flows from operating activities, less cash flow used in investing activities. Management believes Free Cash Flow is a useful indicator of the Company's ability to generate cash flow and operate net of all expenditures, prior to any financing cash flows. Free Cash Flow per share is calculated as the Free Cash Flow divided by the fully diluted adjusted weighted average number of common shares issued and outstanding. The following table provides a reconciliation of Free Cash Flow: SOURCE OceanaGold Corporation
