Slide 1: Q3 2022 Results
Q3 2022 RESULTS November 10, 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: The Leading Growth-Oriented Royalty Company
THE LEADING GROWTH- ORIENTED ROYALTY COMPANY TSX | NYSE: OR Intermediate precious metal royalty company trading at discount to peers +175 C$2.7B North American focused portfolio of over royalties, streams market cap and offtakes 175 royalties, streams and precious metal offtakes 90-95k 92.5% Corners
Slide 4: Q3 2022 Highlights
Q3 2022 HIGHLIGHTS Record 23,850 GEOs1 earned Osisko Bermuda closed the previously announced metals stream on the Trixie mine in Utah for US$20.0 million ($27.1 million) in Revenues of C$53.7 million exchange for 2.5% of all metals produced (until 27,150 ounces of refined gold have been delivered, a
Slide 5: Producing Royalties and Streams
PRODUCING ROYALTIES AND STREAMS DIAMONDS & OTHERS 3,544 GEOs Q3 2022 Q3 2022 (14.9%) GEOs BY ASSET GEOs BY COMMODITY SILVER 23,850 4,851 GEOs (20.3%) GEOs GOLD 15,455 GEOs (64.8%) 7,479 3,406 3,272 2,399 1,472 1,011 887 718 563 473 470 676 437 124 70 64 272 57 DIAMONDS (R) = Royalty (S) = Stream GOL
Slide 6: Canadian Malartic
CANADIAN MALARTIC Flagship royalty on Canada’s largest gold mine Odyssey underground project on schedule and on budget5 Mine life to at least 2039 (based on approx. half of current resources)6 Pre-commercial production from the Odyssey South Open Pit, East Gouldie, Odyssey South & orebody is expecte
Slide 7: Odyssey Mineral Resources
Indicated resources of 2.35 million ounces of gold and Inferred resources of 13.15 million ounces and growing7 East Gouldie extended to the west by ~225m and to the east at depth by ~500m to more than 1,700m from the current mineral resources outline Yamana of the view that Odyssey has the strategic
Slide 8: Producing Assets Highlights
PRODUCING ASSETS HIGHLIGHTS MANTOS EAGLE ÉLÉONORE 100% Ag Stream 5% NSR 2.2-3.5% NSR Antofagasta, Chile | Capstone Copper Corp. Yukon, Canada | Victoria Gold Corp. Québec, Canada | Newmont Corporation Commissioning of the Concentrator Operations working towards achieving steady 2022 gold production
Slide 9: Producing Assets Highlights (Cont'd)
PRODUCING ASSETS HIGHLIGHTS (CONT’D) ISLAND GOLD LAMAQUE SEABEE 1.38%-3% NSR 1% NSR 3% NSR Ontario, Canada | Alamos Gold Inc. Québec, Canada | Eldorado Gold Corp. Saskatchewan, Canada | SSR Mining Inc. Positive Phase 3+ Expansion Study Plans to increase production from 1,800 to Strong first nine mon
Slide 10: Producing Assets Highlights (Cont'd)
PRODUCING ASSETS HIGHLIGHTS (CONT’D) GIBRALTAR SASA RENARD 100% Silver Stream 100% Silver Stream 9.6% Diamond Stream British Columbia, Canada | Taseko Mines Limited Macedonia | Central Asia Metals PLC Québec, Canada | Stornoway Diamonds (Canada) Inc. Proven and Probable reserves Long mine life (to 2
Slide 11: Entering an Important Phase of Growth
ENTERING AN IMPORTANT PHASE OF GROWTH NPV BY STAGE21 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 + ‐ Marimaca San Antonio ‐ Oracle Ridge Cariboo ‐ Pine Po
Slide 12: Select Growth Assets
SELECT 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 M
Slide 13: Recent Transactions
RECENT TRANSACTIONS CSA TINTIC MARIMACA 100% Ag Stream 2.5% Metals Stream 1% NSR NSW, Australia | Metals Acquisition Corp. Utah, USA | Osisko Development Corp. Antofogasta, Chile | Marimaca Copper Corp. High grade copper mine in a Tier 1 Newly-discovered high grade “T2” returned ~1,310 hectares incl
Slide 14: Cascabel Transaction
Upfront Payment: US$50 million Royalty Percentage: 0.6% net smelter return royalty (“NSR”) Minimum Payments: US$4 million minimum annual payment from 2030-39 CASCABEL Property: NSR covers the full 4,979 ha Cascabel concession ESG Commitment: US$75,000 per year over the next 3 years TRANSACTION TRANS
Slide 15: Alpala Royalty Overview
ALPALA ROYALTY OVERVIEW Advantageous Location Accessing Existing Infrastructure SolGold Plc 85% / Cornerstone Capital Resources Inc. 15% Current Ownership (Friendly merger announced will result in SolGold owning 100%) Road Location Imbabura, Ecuador Commodity Copper, Gold, Silver Mine Type Undergrou
Slide 16: Exploration Upside Potential
EXPLORATION UPSIDE POTENTIAL State-of-the-art block caving operation targeting the higher-grade Alpala Mineral Reserves and Resources Statement31 section of the deposit and initial Mineral Reserve of 558Mt at 0.58% Cu, Category Tonnage Cu Grade Au Grade Contained Cu Contained Au 0.52 g/t Au (Mt) (%)
Slide 17: Deep Portfolio Adds Further Upside
DEEP PORTFOLIO ADDS FURTHER UPSIDE ASSET ROYALTY OPERATOR ASSET UPDATE Recently approved development. Expected to contribute Akasaba West 2.5% NSR approximately 1,500 tpd to the Goldex mill and provide additional production flexibility with production expected in 2024. South32 Limited has made a str
Slide 18: Deep Portfolio Adds Further Upside (Cont'd)
DEEP PORTFOLIO ADDS FURTHER UPSIDE (CONT’D) ASSET ROYALTY OPERATOR ASSET UPDATE Recent drilling intersected 2.08% copper, 18.81 g/t silver and 0.33 Oracle Ridge 3% NSR g/t gold over 12.5 meters. Updated resource expected end of September. Updated PEA announced in July 2022 showing robust economics P
Slide 19: Additional Exploration Success
ADDITIONAL EXPLORATION SUCCESS DRILLING ON OSISKO PROPERTIES6 GROWTH IN (METERS) 1,419,455 ATTRIBUTABLE OUNCES32 993,203 1,007,973 914,128 947,586 533,089 153,544 2015 2016 2017 2018 2019 2020 2021 AVERAGE OF OVER 1 MILLION OUR ATTRIBUTABLE OUNCES METERS DRILLED/YEAR FOR THE ARE GROWING AND HAVE LAS
Slide 20: Financials
OSISKO GOLD ROYALTIES FINANCIALS [So a, a WWW.OSISKOGR.COM | NYSE&TSX:OR
Slide 21: Q3 2022 Financial Performance
Q3 2022 FINANCIAL PERFORMANCE RECORD REVENUES (C$ M) RECORD CASH FLOW GENERATED BY OPERATING ACTIVITIES FROM CONTINUING OPERATIONS (C$ M) $53.7 $50.0 $51.1 $44.1 Q3 2021 Q3 2022 Q3 2021 Q3 2022 21
Slide 22: Q3 2022 Financial Performance (Cont'd)
Q3 2022 FINANCIAL PERFORMANCE (CONT’D) NET EARNINGS FROM ADJUSTED EARNINGS CONTINUING OPERATIONS (C$ M)3,4 (C$ M) $28.0 $25.8 $25.6 $23.3 Q3 2021 Q3 2022 Q3 2021 Q3 2022 22
Slide 23: Q3 2022 Results
Q3 2022 RESULTS 3 MONTHS ENDED 9 MONTHS ENDED (C$ 000) Sep. 30, 2022 Sep. 30, 2021 Sep. 30, 2022 Sep. 30, 2021 GOLD PRODUCTION (oz) 15,455 15,078 44,754 45,500 SILVER PRODUCTION (oz AuEq) 4,851 4,405 12,390 13,047 DIAMOND PRODUCTION (oz AuEq) 3,304 2,483 9,340 6,249 OTHER METALS PRODUCTION (oz AuEq)
Slide 24: Q3 2022 Revenues Breakdown
Q3 2022 REVENUES BREAKDOWN 3 MONTHS ENDED 9 MONTHS ENDED (C$ 000) Sep. 30, 2022 Sep. 30, 2021 Sep. 30, 2022 Sep. 30, 2021 ROYALTIES: Revenues $34,456 $34,429 $104,028 $105,777 Cost of Sales ($490) ($25) ($772) ($318) CASH MARGIN2: $33,966 $34,404 $103,256 $105,459 STREAMS: Revenues $19,205 $15,606 $
Slide 25: 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 $214M returned to Cumulative Dividend Returned since Inception shareholders in dividends as of September 30, 2022 (C$M) $214.6 Repurchased 2.1 million common $184.2 shares for $3
Slide 26: Balance Sheet Strength
BALANCE SHEET STRENGTH CREDIT FACILITY (C$ M) As at September 30, 2022 BALANCE SHEET ITEMS September 30, 2022 Drawn:$0 Cash (C$ M) $300.5 Investments (C$ M)34 $388.3 AVAILABLE CREDIT: Debt (C$ M)36 $300.0 $750 M35 Basic Shares Outstanding (M) 183.8 Undrawn Credit Facility SIGNIFICANT FINANCIAL FLEXI
Slide 27: Footnotes
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 price for the