OCEANAGOLD (PHILIPPINES), INC., (“OGP” or the “Company”) has announced that it has completed the initial public offering (the “IPO”) of 20% of its outstanding common shares on the Philippine Stock Exchange (“PSE”). The shares are listed under the ticker symbol ‘OGP’ and began trading today.

The Company operates the Didipio gold and copper underground mine, located in the northern Luzon region of the Philippines, under a Financial or Technical Assistance Agreement (“FTAA”) with the Philippine government. The Company is this year’s first PSE IPO listing and the first IPO in the Philippine mining industry in over a decade. With the ringing of the bell, OGP has completed the final remaining requirement of the FTAA renewal, which was to list its common shares on the PSE.

In his welcome remarks, PSE President and CEO Ramon S. Monzon congratulated OGP “for its successful IPO of 456 million shares amounting to PhP 6.08 billion.” Monzon underscored that OGP is the first IPO at the Exchange for the year, the last one since July 2023, and the first mining company to do an IPO after 12 years.

“OGP’s listing comes at a time when prospects for the mining industry are favorable. The government is looking to revitalize the mining industry to boost its potential contribution to the economy. The local mining sector certainly has a vast potential that can fuel economic growth,” Monzon added.

Undersecretary Juan Miguel Cuna, representing Sec. Ma. Antonia Yulo-Loyzaga of the Department of Environment and Natural Resources applauded the Company’s listing and said: “Your decision to open your company to the public signifies a trust in the country’s economy, and the commitment to be part of the government’s thrust in the whole of nation and whole of society approach to spur development.

“As the first FTAA, OGP likewise demonstrates the company’s integrity by delivering under its obligations of this pioneering agreement. Under the leadership of President Ferdinand Marcos Jr., the government has prioritized the revitalization of the mining sector as a catalyst for growth and indispensable partner in the national agenda for sustainable development, climate action, and clean energy transition for a low carbon future.

“By maintaining responsible mining as your core value, may you seize this opportunity to ensure that no ecosystem or community is left behind and you have a company that your shareholders can truly be proud of.”

Atty. Joan Adaci-Cattiling, OGP’s President, said: “This is truly a momentous occasion, a milestone not only for us, but for the Philippine mining industry and business sector in general. Not only is OceanaGold Philippines this year’s curtain raiser for initial public offerings, we are also the first holder of a Financial or Technical Assistance Agreement, or an FTAA for short, to list on the stock exchange, and first mining firm to do so in over a decade.”

She continued, “As a good corporate citizen, we at OceanaGold Philippines are not doing this listing merely to comply with our contract with the Philippine government. We are doing this to give every Filipino an opportunity to join us in our growth story – a growth story that is one not only for OceanaGold Philippines but also for the advancement of the Philippine mining industry and our economy. From its foundation as the first Philippine mine to operate under an FTAA, OceanaGold Philippines and the Didipio Mine have continually set new standards in the mining sector, and we are not stopping there.”

“We expect our mining operations to provide substantial dividend returns to our shareholders and most importantly to continue to give benefits to the government and the communities, ensuring that we realize our purpose of mining gold and copper for a better future,” she added.

The Company holds the country’s first FTAA which was executed in 1994 and was renewed on July 14,2021 for an additional 25-year period commencing on June 19, 2019.

The Company is planning to release First Quarter 2024 financial and operating results on May 31, 2024. The Company will declare its inaugural post-listing dividend payment to shareholders with the release of Second Quarter 2024 results at the end of July 2024. The Company expects future dividends will be declared and paid to shareholders quarterly with the release of financial and operating results.

BDO Capital & Investment Corp is OGP’s Global Coordinator, Domestic Underwriter and Bookrunner for the IPO with CLSA Ltd. acting as the International Underwriter.