Slide 1: Q4 and Year 2020 Results
Q4 AND YEAR 2020 RESULTS FEBRUARY 25, 2021
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS FORWARD-LOOKING STATEMENTS This presentation contains forward-looking information and forward-looking statements (together, “forward-looking statements“) within the meaning of applicable Canadian securities laws and the United States Private Securities Litigation Reform Ac
Slide 3: 2020 Highlights
2020 HIGHLIGHTS* 66,113 GEOs1 earned2, above revised guidance; RECORD CASH FLOWS provided by operating activities of C$108.0 million; (compared to C$91.6 million in 2019) RECORD REVENUES from royalties and streams of C$156.6 million; (compared to C$140.1 million in 2019) Cash operating margin3 of 93
Slide 4: 2020 Activities
2020 ACTIVITIES Completed the spin-out of mining assets and certain equity positions through a reverse take-over transaction and the creation of a North American gold development company, Osisko Development; Since October 2020, Osisko Development has successfully raised over C$250 million; Acquired
Slide 5: Producing Royalties and Streams
PRODUCING ROYALTIES AND STREAMS 2020 GEOs BY ASSET 2020 GEOs BY PRODUCT DIAMONDS OTHER 2,163 GEOs 1,698 GEOs (3.3%) (2.5%) 27,964 SILVER 66,113 16,061 GEOs (24.3%) GEOs GOLD 46,191 GEOs 8,547 (69.9%) 4,953 4,797 3,933 3,809 2,390 2,284 1,675 1,860 1,752 886 884 400 104 601 897 108 23 GOLD SILVER DIA
Slide 6: Production and Guidance
PRODUCTION AND GUIDANCE GEO PRODUCTION EAGLE SAN ANTONIO MALARTIC UPPER BEAVER RAMP UP 15% Au-Ag Str. UNDERGROUND 2% NSR 78,000 5% NSR 9.000 GEOs/Year 3-5% NSR 2,400 GEOs/Year 78,006 82,000 10,941 66,113 MANTOS EXP.7 CARIBOO HORNE 5 BACK FORTY 100% Ag Stream 5% NSR 100% Ag Stream 18.5% Au, 75% Ag St
Slide 7: 2020 Financial Performance
2020 FINANCIAL PERFORMANCE RECORD REVENUES FROM RECORD CASH FLOW FROM ROYALTIES AND STREAMS (C$ M)9 OPERATING ACTIVITIES (C$ M) $140.1 $156.6 $108. $91.6 0 2019 2020 2019 2020 7
Slide 8: 2020 Financial Performance
2020 FINANCIAL PERFORMANCE NET EARNINGS10 ADJUSTED EARNINGS (C$ M) (C$ M) $16.9 2019 2020 $41.9 $43.7 ($234. 2) 2019 2020 8
Slide 9: 2020 Results
2020 RESULTS 3 MONTHS ENDED YEARS ENDED (C$ 000) Dec. 31, 2020 Dec. 31, 2019 Dec. 31, 2020 Dec. 31, 2019 GOLD PRODUCTION (oz) 14,433 13,571 46,191 52,750 SILVER PRODUCTION (oz AuEq) 4,117 3,839 16,061 13,243 DIAMOND PRODUCTION (oz AuEq) 21 2,627 2,163 9,949 OTHER (oz AuEq) 258 442 1,698 2,064 REALIZ
Slide 10: 2020 Revenue Breakdown
2020 REVENUE BREAKDOWN 3 MONTHS ENDED YEARS ENDED (C$ 000) Dec. 31, 2020 Dec. 31, 2019 Dec. 31, 2020 Dec. 31, 2019 ROYALTIES: Revenues $34,393 $26,327 $111,305 $97,146 Cost of Sales ($94) ($18) ($512) ($272) CASH MARGIN: $34,299 $26,309 $110,793 $96,874 STREAMS: Revenues $14,371 $12,593 $45,269 $42,
Slide 11: Balance Sheet
BALANCE SHEET BALANCE SHEET Dec. 31, 2020 CREDIT FACILITY (C$ M) ITEMS As at February 24, 2021 Osisko Gold Osisko Royalties11 Development12 $113.6 Cash (C$ M) $105.1 $197.4 Investments (C$ M)13 $215.8 $119.6 AVAILABLE Fair Value of Osisko $759.0 - CREDIT: Development’s Shares (C$ M) $386.4 M14 Debt
Slide 12: Canadian Malartic
CANADIAN MALARTIC Flagship royalty asset Canada’s largest gold mine A stable producer at first quartile costs Significant additional mine life from newly approved, Odyssey underground project OUNCES DELIVERED TO OSISKO (K GEOs) THE WORLD’S MOST COVID-19 IMPACTED VALUABLE GOLD ROYALTY 35.4 35.8 33.6
Slide 13: Canadian Malartic Underground
CANADIAN MALARTIC Construction approval of Odyssey underground UNDERGROUND announced in February along with positive PEA results16 Updated resource of 14.5Moz16 of gold and growing Mine life extension from 2028 to at least 203916 Average underground production of 545koz of gold per year from 2029, b
Slide 14: Mantos, Eagle, Éléonore
MANTOS The mine expansion is expected to increase the throughput of the operation’s sulphide concentrator plant from 4.3 Mtpa to 7.3 Mtpa by Q4 2021 Expected to increase silver stream deliveries by 100% Ag Stream ~80% and extend mine life to 2035 Antofagasta, Chile | Mantos Copper S.A. EAGLE Commerc
Slide 15: Island Gold, SASA, Gibraltar, Seabee
ISLAND GOLD SASA 1.38%-3% NSR 100% Silver Stream Ontario, Canada | Alamos Gold Inc. Macedonia | Central Asia Metals PLC Updated resource and reserve estimate - 8% increase One of the largest zinc, lead and silver mines in Europe in reserves and a 40% increase in inferred resources Long mine life wit
Slide 16: Growth Assets
GROWTH ASSETS CARIBOO CAMP SAN ANTONIO WINDFALL HORNE 5 5.0% NSR 15% Gold & Silver Stream 2.0-3.0% NSR 90-100% Silver Stream B.C., Canada Sonora, Mexico Québec, Canada Québec, Canada 5.9 Moz Au17 and High grade 1.05 Moz Unique combination 6 million GEOs in growing Au18 of size and high grade reserve
Slide 17: Growth Assets (Cont'd)
GROWTH ASSETS (CONT’D) HERMOSA PINE POINT RENARD AMULSAR 4.2% Gold 1.0% NSR 2.0% NSR 9.6% Diamond Stream & 62.5% Silver Stream Arizona, USA NWT, Canada Quebec, Canada Armenia Over 100Mt at 10.4% Rare combination of $1B of well-built Significant mineral ZnEq and multi- size and high grade infrastruct
Slide 18: Recent Asset Advancements
RECENT ASSET ADVANCEMENTS ASSET ROYALTY OPERATOR ASSET UPDATE Extension of the mineralized footprint of the project Antakori 1.5%-3% NSR announced on January 7, 2021. Feasibility study released and seeking federal 404 permit Ambler 1% NSR in the second half of 2021 Talisker continues to intersect hi
Slide 19: Recent Asset Advancements (Cont'd)
RECENT ASSET ADVANCEMENTS (CONT’D) ASSET ROYALTY OPERATOR ASSET UPDATE Released initial reserves (3.3 Moz of gold), received Hammond Reef 2% NSR environmental approvals and evaluating potential mining scenarios including ore sorting. Plans to drill 36,500m in 2021 and updated resource Kirkland Lake/
Slide 20: Summary
SUMMARY RECORD RECORD 66,113 CASH FLOW FROM REVENUES FROM ATTRIBUTABLE OPERATING ROYALTIES AND GEOs EARNED ACTIVITIES OF STREAMS OF FOR 2020 C$108.0 M C$156.6 M FOR 2020 FOR 2020 86% OVER 140 DIVERSIFIED ASSET NPV ROYALTY, WITH 17 IN NORTH STREAM AND PRODUCING AMERICA OFFTAKE ASSETS (80% IN CANADA)
Slide 21: Appendix
OSISKO GOLD ROYALTIES Appendix a WWW.OSISKOGR.COM | NYSE&TSX:OR
Slide 22: 2021 Outlook
2021 OUTLOOK GEO GUIDANCE22 CASH LOW HIGH MARGIN (GEOs) (GEOs) (%) ROYALTY INTERESTS 59,750 62,800 100% STREAM INTERESTS 17,400 18,250 87% OFFTAKE INTERESTS 850 950 3% 78,000 82,000 97%23 22
Slide 23: Segment Disclosure
SEGMENT DISCLOSURE Following the acquisition of Barkerville in November 2019, the chief operating decision-maker organizes and manages the business under two operating segments: (i) acquiring and managing precious metal and other royalties, streams and similar interests, and (ii) the exploration, ev
Slide 24: Segment Disclosure (Cont'd)
SEGMENT DISCLOSURE (CONT’D) Year Ended December 31, 2019 Mining exploration, Royalties, streams and evaluation and Intersegment similar interests (i) Consolidated development (ii) transactions(iii) $ $ $ $ Cash 100,217 8,006 - 108,223 Current assets 127,547 12,882 - 140,429 Investments in associates
Slide 25: 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