Slide 1: Q1 2022 Results
OSISKO GOLD ROYALTIES Q1 2022 RESULTS = May 12, 2022 a TTY lag —__— WWW.OSISKOGR.COM | NYSEaTSX:OR
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: Q1 2022 Highlights
Q1 2022 HIGHLIGHTS TRANSACTIONS 18,251 GEOs1 earned (excluding 3,025 GEOs earned from the Tintic: In January, Osisko Bermuda entered into a non-binding Renard diamond stream2) metals stream, with Osisko Development, for a US$20-$40 million stream, that could represent deliveries of up to 5% of all m
Slide 4: A High-Quality Portfolio
A HIGH-QUALITY PORTFOLIO 6 3 125 5 Total Assets 11 Producing Asset 16 HIGH GOLD WEIGHTING7 LOW GEOPOLITICAL RISK7 LOW-COST MINES8 BEST-IN-CLASS PARTNERS 2021 GEOs BY COMMODITY 2021 GEOs BY GEOGRAPHY NAV BY CASH COST QUARTILE 4
Slide 5: Producing Royalties and Streams
PRODUCING ROYALTIES AND STREAMS Q1 2022 GEOs BY ASSET Q1 2022 GEOs OTHERS BY PRODUCT 407 GEOs (2.2%) SILVER 3,445 GEOs 18,251 8,112 (18.9%) GEOs9 1,774 GOLD 14,399 GEOs 1,604 (78.9%) 1,020 1,027 808 652 522 491 447 342 368 280 469 117 94 59 65 GOLD SILVER OTHERS (R) = Royalty, (S) = Stream 5
Slide 6: Entering an Important Phase of Growth
ENTERING AN IMPORTANT PHASE OF GROWTH NPV BY STAGE8 HIGH ORGANIC GROWTH - Akasaba West ‐ Altar ‐ Amalgamated Kirkland 130,000 ‐ Amulsar 140,000 ‐ Bralorne ‐ Casino ‐ Copperwood EXISTING ‐ Hammond Reef ASSETS ‐ Hermosa 90,000 ‐ Horne 5 95,000 + ‐ Oracle Ridge San Antonio ‐ Pine Point Cariboo ‐ Poseid
Slide 7: Additional Exploration Success
ADDITIONAL EXPLORATION SUCCESS DRILLING ON OSISKO PROPERTIES10 GROWTH IN (METERS) 1,419,455 ATTRIBUTABLE OUNCES10 993,203 1,007,973 914,128 947,586 533,089 153,544 2015 2016 2017 2018 2019 2020 2021 AVERAGE OF OVER 1 MILLION OUR ATTRIBUTABLE OUNCES METERS DRILLED/YEAR FOR THE ARE GROWING AND HAVE LA
Slide 8: Tintic Metals Transaction
TINTIC METALS TRANSACTION 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, purchased metals reduced pro rata On
Slide 9: CSA Stream Transaction
CSA STREAM Upfront Payment: US$90 million Streamed Metal: 100% of payable silver for life of mine TRANSACTION Ongoing Payments: 4% of spot silver at time of delivery Closing: Expected H2 2022 and subject to, among others, Metals Acquisition Corp. (“MAC”) completing the acquisition of the CSA mine OT
Slide 10: Q1 2022 Financial Performance
Q1 2022 FINANCIAL PERFORMANCE REVENUES FROM ROYALTIES AND CASH FLOW GENERATED BY THE STREAMS (C$ M)3 ROYALTIES AND STREAMS SEGMENT (C$ M)3,6 $49.0 $50.7 $40.5 $36.7 Q1 2021 Q1 2022 Q1 2021 Q1 2022 (C$66.9 MILLION INCLUDING OFFTAKES) 10
Slide 11: Q1 2022 Financial Performance (Cont'd)
Q1 2022 FINANCIAL PERFORMANCE (CONT’D) CONSOLIDATED NET EARNINGS (LOSS) ADJUSTED EARNINGS FROM THE ROYALTIES (C$ M)5 AND STREAMS SEGMENT (C$ M)3,6 $23.4 $24.8 $10.6 $0.3 Q1 2021 Q1 2022 Q1 2021 Q1 2022 11
Slide 12: Q1 2022 Results
Q1 2022 RESULTS 3 MONTHS ENDED (C$ 000) Mar. 31, 2022 Mar. 31, 2021 GOLD PRODUCTION (oz) 14,399 14,867 SILVER PRODUCTION (oz AuEq) 3,445 4,571 DIAMOND PRODUCTION + OTHER (oz AuEq)7 407 522 TOTAL PRODUCTION (oz AuEq) 18,251 19,960 REALIZED GOLD PRICE (C$ per oz) $2,380 $2,294 CONSOLIDATED REVENUES $5
Slide 13: Q1 2022 Revenues Breakdown
Q1 2022 REVENUES BREAKDOWN27 3 MONTHS ENDED (C$ 000) Mar. 31, 2022 Mar. 31, 2021 ROYALTIES: Revenues $39,989 $34,911 Cost of Sales ($94) ($174) CASH MARGIN: $34,895 $34,737 STREAMS: Revenues $15,700 $14,086 Cost of Sales ($3,087) ($2,984) CASH MARGIN: $12,613 $11,102 OFFTAKES: Revenues - $17,926 Cos
Slide 14: Focused on Returns to Shareholders
FOCUSED ON RETURNS TO SHAREHOLDERS Quarterly Dividend (C$/share) C$0.03 C$0.04 C$0.05 C$0.055 Dividend yield of ~1.5% Over $194.4M returned to Cumulative Dividend Returned since Inception shareholders in dividends as of March 31, 2022 (C$M) $194.4 Repurchased 2.1 million common $184.2 shares for $30
Slide 15: Balance Sheet Strength
BALANCE SHEET STRENGTH CREDIT FACILITY (C$ M) BALANCE SHEET As at May 12, 2022 March 31, 2022 ITEMS $0 Osisko Gold Osisko Royalties13 Development14 Cash (C$ M) $392.6 $56.8 AVAILABLE CREDIT: Investments (C$ M)15 $667.9 $60.8 $650 M16 Debt (C$ M)* $407.3 $7.0 Undrawn Credit Facility Drawn Credit Faci
Slide 16: The Leading Growth-Oriented Royalty Company
THE LEADING GROWTH- ORIENTED ROYALTY COMPANY TSX | NYSE: OR Intermediate precious metal royalty company +165 US$2.1B North American focused portfolio of over royalties, streams market cap and offtakes 165 royalties, streams and precious metal offtakes 90-95k 93% Cornerstone royalty on Canadian 2022
Slide 17: Appendix
OSISKO GOLD ROYALTIES - APPENDIX EZ _ TT WWW.OSISKOGR.COM | NYSEaTSX:OR
Slide 18: Ongoing Commitment Towards ESG Matters
ONGOING COMMITMENT TOWARDS ESG MATTERS ENVIRONMENTAL SOCIAL GOVERNANCE Quality operators with track Actively pursuing diversity Significant board records managing mining and across the organization refreshment with five new ESG risks members Lead donor and administrator ESG due diligence fully of CM
Slide 19: Canadian Malartic Underground (Odyssey)
CANADIAN MALARTIC The Odyssey underground project advancing on schedule and UNDERGROUND (ODYSSEY) according to plan, shaft sinking to begin in Q4 2022 2.35 million ounces of indicated mineral resources and 13.15 million ounces of inferred mineral resources and growing17 Mine life to at least 2039 (b
Slide 20: Mantos, 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 of 164k oz Au in 2021, a 40% increase above 2020 Increase from 4.3Mtpa to 7.3 Mtpa and mine life extended
Slide 21: 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 Plans to increase production from 1,800 to 2,200 tpd by 2022 the operation by ~70% to 236,000/yr starting in 2025 and
Slide 22: 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 23: 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