Slide 1: Q4 and Year 2021 Results
Q4 and YEAR 2021 RESULTS FEBRUARY 25, 2022
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS Certain statements contained in this presentation may be deemed "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legi
Slide 3: 2021 Highlights
2021 HIGHLIGHTS 80,000 GEOs1 earned (excluding 9,210 GEOs earned from the Renard Amendment of the revolving credit facility and increase of the diamond stream2) amount available by $150.0 million to $550.0 million, with an additional uncommitted accordion of up to $100.0 million (for a Record revenu
Slide 4: Producing Royalties and Streams
PRODUCING ROYALTIES AND STREAMS 2021 GEOs BY ASSET 2021 GEOs OTHERS BY PRODUCT 2,160 GEOs (2.7%) 35,610 SILVER 17,150 GEOs 80,000 (21.4%) GEOs6 9,141 GOLD 8,506 60,690 GEOs (75.9%) 5,632 4,441 3,452 2,676 2,189 2,050 1,832 1,264 685 511 400 1,009 492 110 GOLD SILVER OTHERS (R) = Royalty, (S) = Strea
Slide 5: 2022 Guidance
2022 GUIDANCE CASH LOW HIGH MARGIN (GEOs) (GEOs) (%) ROYALTY 60,300 63,600 100% INTERESTS STREAM 29,700 31,400 80% INTERESTS 90,000 95,000 93% Osisko’s2022 guidance on royalty and stream interests is largely based on publicly available forecasts from our operating partners. When publicly available f
Slide 6: 5-Year Outlook
5-YEAR OUTLOOK ENTERING AN IMPORTANT GROWTH PHASE - Akasaba West ‐ Amalgamated 130,000 Kirkland ‐ Amulsar 140,000 ‐ Casino ‐ Copperwood ‐ Hermosa EXISTING ‐ Horne 5 ASSETS ‐ PinePoint 90,000 + ‐ Poseidon Nickel 95,000 San Antonio ‐ Spring Valley Cariboo ‐ Upper Beaver EXISTING Windfall ‐ West Kenya
Slide 7: Lowest Geopolitical Risk, High Quality, Long-Life Assets
LOWEST GEOPOLITICAL RISK GIBRALTAR ÉLÉONORE NAV BY COUNTRY RISK7 75% Ag STREAM SASA 2.2-3.5% NSR 100% Ag STREAM Lower Medium Higher EAGLE 5% NSR 5% 11% 32% 13% LAMAQUE 34% 40% CARIBOO CAMP 1% NSR 46% 5% NSR 7 3 BALD MOUNTAIN WINDFALL 94% 120 2-3% NSR 1-4% NSR 76% 40% 68% 64% SPRING VALLEY 51% 2.5-3%
Slide 8: The World's Most Valuable Gold Royalty
CANADIAN MALARTIC Flagship royalty on Canada’s largest gold mine A stable producer at first quartile costs Strong Q4 gold production benefiting from higher grade and recoveries, for a total of 714 784 ounces for 2021, exceeding guidance8 $0.40/t processing royalty on any ore outside royalty boundari
Slide 9: Canadian Malartic
CANADIAN MALARTIC The Odyssey underground project advancing on schedule and according to plan, shaft sinking to being in Q4 2022 15.5Moz9 gold resource and growing Mine life to at least 2039 (based on approx. half of current resources)9 Open Pit, East Gouldie, Odyssey South & Eastern extension of Ea
Slide 10: Mantos Blancos, Eagle, Éléonore, Seabee
MANTOS EAGLE 100% Ag Stream 5% NSR Antofagasta, Chile | Mantos Copper S.A. Yukon, Canada | Victoria Gold Corp. Commissioning of the Concentrator Debottlenecking Project underway Gold production ramped up in H2 with 105k oz Au produced Increase from 4.3Mtpa to 7.3 Mtpa and mine life extended to 2035.
Slide 11: Island Gold, Lamaque, Gibraltar, SASA
ISLAND GOLD LAMAQUE 1.38%-3% NSR 1% NSR Ontario, Canada | Alamos Gold Inc. Québec, Canada | Eldorado Gold Corp. Positive Phase III Expansion Study and proceeding with an expansionof Continued development of the underground decline from the the operation by ~70% to 236,000/yr starting in 2025 Sigma m
Slide 12: Growth Assets
GROWTH ASSETS CARIBOO CAMP SAN ANTONIO WINDFALL UPPER BEAVER / AK BACK FORTY 85% Ag stream, 18.5% Au 5.0% NSR 15% Gold & Silver Stream 2.0-3.0% NSR 2% NSR stream B.C., Canada Sonora, Mexico Québec, Canada Ontario, Canada Michigan, USA Osisko Development Corp. Osisko Development Corp. Osisko Mining I
Slide 13: Transactions
TRANSACTIONS SPRING VALLEY TOCANTINZINHO PROJECT BARRICK ROYALTIES ROYALTY ACQUISITION ROYALTY ACQUISITION ROYALTY ACQUISITIONS APRIL 2021 JULY 2021 OCT 2021 Increasing Osisko’s interest in Spring Valley to A 1.75% NSR (subject to a 1% buy down) on 2% NSR royalty on the West Kenya project a combined
Slide 14: Transactions (Cont'd)
TRANSACTIONS (CONT’D) PROPOSED TINTIC METAL STREAM ACQUISITION Upfront Deposit: At least US$20M and up to US$40M Streamed Metal: With full drawdown, Osisko will purchase up to 5% of all metals produced until 53,400 ounces of gold delivered, after which Osisko will purchase 4%. With partial drawdown,
Slide 15: 2021 Financial Performance
2021 FINANCIAL PERFORMANCE RECORD REVENUES FROM RECORD CASH FLOW ROYALTIES AND STREAMS (C$ M) GENERATED BY THE ROYALTIES AND STREAMS SEGMENT (C$ M)3 $199.6 $156.6 $153.2 $114.0 2020 2021 2020 2021 15
Slide 16: 2021 Financial Performance (Cont'd)
2021 FINANCIAL PERFORMANCE (CONT’D) CONSOLIDATED NET EARNINGS (LOSS) ADJUSTED EARNINGS FROM THE ROYALTIES (C$ M)5 AND STREAMS SEGMENT (C$ M)3,4 Mostly as a result of the impairment charges and mining operating expenses incurred by Osisko Development $16.9 $94.4 2020 2021 $55.3 ($23.6) 2020 2021 16
Slide 17: 2021 Results
2021 RESULTS 3 MONTHS ENDED YEARS ENDED (C$ 000) Dec. 31, 2021 Dec. 31, 2020 Dec. 31, 2021 Dec. 31, 2020 GOLD PRODUCTION (oz) 15,190 14,433 60,690 46,191 SILVER PRODUCTION (oz AuEq) 4,103 4,117 17,150 16,061 DIAMOND PRODUCTION + OTHER (oz AuEq)6 537 279 2,160 3,861 TOTAL PRODUCTION (oz AuEq) 19,830
Slide 18: 2021 Revenues Breakdown
2021 REVENUES BREAKDOWN 3 MONTHS ENDED YEARS ENDED (C$ 000) Dec. 31, 2021 Dec. 31, 2020 Dec. 31, 2021 Dec. 31, 2020 ROYALTIES: Revenues $34,502 $34,393 140,279 111,305 Cost of Sales ($233) ($94) ($551) ($512) CASH MARGIN: $34,269 $34,299 $139,728 $110,793 STREAMS: Revenues $16,171 $14,371 $59,333 $4
Slide 19: Focused on Returns to Shareholders
FOCUSED ON RETURNS TO SHAREHOLDERS Quarterly Dividend (C$/share) C$0.03 C$0.04 C$0.05 C$0.055 Dividend yield of 1.4% Over $184M returned to Cumulative Dividend Returned since Inception shareholders in dividends as of December 31, 2021 (C$M) $184.2 Repurchased 2.1 million common shares for $30.8 mill
Slide 20: Balance Sheet Strength
BALANCE SHEET STRENGTH CREDIT FACILITY (C$ M) BALANCE SHEET As at December 31, 2021 December 31, 2021 ITEMS Osisko Gold Osisko $113.4 Royalties21 Development22 Cash (C$ M) $82.3 $33.4 AVAILABLE Investments (C$ M)23 $661.0 $87.4 CREDIT: $536.6 M24 Debt (C$ M) $406.7 $3.8 Basic Shares Outstanding (M)
Slide 21: The Leading Growth-Oriented Royalty Company
THE LEADING GROWTH- ORIENTED ROYALTY COMPANY TSX | NYSE: OR Intermediate precious metal royalty company +160 US$2.0B North American focused portfolio of over royalties, streams market cap and offtakes 160 royalties, streams and precious metal offtakes 80k 97% Cornerstone royalty on Canadian 2021 GEO
Slide 22: Endnotes
ENDNOTES 1. GEOs are calculated on a quarterly basis and include royalties, streams and offtakes. Silver earned from royalty and stream agreements was converted to gold equivalent ounces by multiplying the silver ounces by the average silver price for the period and dividing by the average gold pric