Mr. Gerard Bond reports

OCEANAGOLD ANNOUNCES RENEWAL OF SHARE BUYBACK

Oceanagold Corp. has received approval from the Toronto Stock Exchange to renew its normal course issuer bid (NCIB), permitting the company to buy back up to 22 million common shares, representing approximately the maximum of 10 per cent of the company's public float, over the next 12 months. As of July 21, 2026, there were a total of 222,447,523 common shares issued and outstanding. (All financial figures in U.S. dollars unless otherwise stated.)

Over the prior 12 months, Oceanagold repurchased $270-million of common shares under the previous NCIB. In February, 2026, the company announced that the board had approved up to $350-million of share buybacks for full-year 2026, with $134-million completed year to date. Since initiating its share buyback program in July, 2024, the company has returned over $325-million to shareholders through share repurchases.

Gerard Bond, president and chief executive officer of Oceanagold, said: "Oceanagold's continued strong free cash flow generation is allowing us to invest in growth and exploration, further strengthen our net cash position, and return more to shareholders in 2026 via a higher dividend and increased share buyback program. In line with our capital allocation framework, we are pleased to announce the renewal of our NCIB program, demonstrating our ongoing commitment to delivering meaningful capital returns to shareholders."

Under the NCIB, the company may, during the period commencing on July 24, 2026, and ending on or before July 23, 2027, purchase up to approximately 22 million common shares through the facilities of the TSX, the New York Stock Exchange, and alternative trading systems in Canada and the United States. Under the terms of the NCIB, the company may purchase up to a daily maximum of 209,812 common shares (being 25 per cent of the average daily trading volume of 839,249 common shares for the six-month period ended June 30, 2026).

In connection with the NCIB, the company has entered into an automatic share purchase plan (ASPP) with a designated broker to allow for the repurchase of common shares at times when the company ordinarily would not be active in the market due to its own internal trading blackout periods.

The ASPP will terminate on the earliest of the date on which the: (i) purchase limit under the NCIB has been reached; (ii) NCIB expires; and (iii) ASPP otherwise terminates in accordance with its terms. The ASPP constitutes an automatic plan for purposes of applicable Canadian securities legislation and the agreement governing the plan has been precleared by the TSX.

The actual number of common shares that may be purchased and the timing of such purchases will be determined by the company in accordance with applicable laws and the ASPP. Decisions regarding purchases will be based on market conditions, share price, best use of available cash and other factors. Any common shares that are purchased under the NCIB will be cancelled.

As of July 21, 2026, a total of 221,431,023 common shares made up the company's public float or the number of common shares available for trading, excluding those held by insiders.

Under the previous NCIB, the company sought and obtained TSX approval to repurchase approximately 23 million common shares. Over the prior 12 months, a total of 9,827,224 common shares were purchased through the facilities of the TSX and alternative trading systems in Canada, in part through an ASPP with a designated broker, at an average price of $37.61 (Canadian) per common share.

About Oceanagold Corp.

Oceanagold is a global intermediate gold and copper producer committed to safely and responsibly maximizing the generation of free cash flow from the company's operations and delivering strong returns for its shareholders. Oceanagold has a portfolio of four operating mines: the wholly owned Haile gold mine in the United States, the wholly owned Macraes and Waihi operations in New Zealand, and the 80-per-cent-owned Didipio mine in the Philippines.

We seek Safe Harbor.