Slide 1: Q3 2024 Results
Q3 2024 RESULTS NOVEMBER 6, 2024
Slide 2: Cautionary Statements
CAUTIONARY 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 Ca
Slide 3: On Today's Call
ON TODAY’S CALL… Jason Attew Frédéric Ruel President & CEO CFO & VP Finance …Also Available: André Le Bel Dr. Guy Desharnais Iain Farmer Heather Taylor VP Legal Affairs & VP Project Evaluation VP Corporate Development VP Sustainability & Communications Corporate Secretary 3
Slide 4: Q3 2024 & Recent Highlights
Q3 2024 & RECENT HIGHLIGHTS STRONG OPERATING 18,408 GOLD CASH FLOWS OF $47.2 CASH BALANCE OF EQUIVALENT OUNCES MILLION & CASH NEW TRANSACTIONS $58.5 MILLION & (“GEOs1”) EARNED MARGIN IN Q3 2024 NET DEBT(iii) OF Acquisition of a 6% gold OF 96.3%2 stream at SolGold’s Cascabel(i) $22.2 MILLION (60,735
Slide 5: Q3 2024 Financial Performance
Q3 2024 FINANCIAL PERFORMANCE QUARTERLY REVENUES (C� M) NET (LOSS) EARNINGS (C� M) $35 $0.10 per Non-cash impairment charge and write-off associated with Renard basic share $15 $(0.11) per basic share �18.3 �62.1 �57.3 -$5 �(20.0) -$25 Q3 2023 Q3 2024 Q3 2023 Q3 2024 CASH FLOWS GENERATED BY OPERATIN
Slide 6: Margin Matters – Osisko's Cash Margin Is Peer-Leading
MARGIN MATTERS – OSISKO’S CASH MARGIN IS PEER-LEADING Osisko’s 2024 YTD cash margin stands out as it is 12.3% higher than the average across the relevant peer set due to the highest gold equivalent ounce contribution from royalty assets 2024 YTD Cash Margin, (%) (i),4 Osisko and its shareholders cap
Slide 7: Producing Royalties and Streams
PRODUCING ROYALTIES AND STREAMS COPPER & OTHERS Q3 2024 1,597 Q3 2024 8.7% GEOs1 BY ASSET GEOs1 BY COMMODITY 7,598 SILVER 18,408 4,827 26.2% GEOs1 GOLD 11,984 65.1% 1,905 1,311 1,307 1,149 1,329 872 620 534 421 362 123 390 268 122 21 42 34 COPPER & (R) = Royalty (S) = Stream GOLD SILVER OTHERS 7
Slide 8: A High-Quality Portfolio
A HIGH-QUALITY PORTFOLIO PRODUCING ASSETS INTEREST OPERATING PARTNERS 1 CANADIAN MALARTIC 5% NSR AGNICO EAGLE 2 MANTOS BLANCOS 100% Ag Stream CAPSTONE COPPER 3 CSA 100% Ag & 3-4.875% Cu Streams METALS ACQUISITION LIMITED 6 7 4 4 ÉLÉONORE 2.2-3.5% NSR NEWMONT 8 5 3 5 SASA 100% Ag Stream CENTRAL ASIA
Slide 9: Highest Exposure to Tier 1 Mining Jurisdictions vs. Peers
HIGHEST EXPOSURE TO TIER 1 MINING JURISDICTIONS(i) vs. PEERS 100% 90% 80% 70% 60% 50% NAV % 40% 30% 20% 10% 0% OR TFPM RGLD FNV WPM SAND Canada USA Australia Latin America (Incl. Mexico & Caribbean) Europe Africa Asia Tier-1 Jurisdictions Data Source: Canaccord Genuity Capital Markets Precious Metal
Slide 10: Dalgaranga
Dalgaranga is located in Western Australia, one of the most prolific DALGARANGA and well-established mining jurisdictions, and it is one of the best gold development and production re-start projects globally Dalgaranga, a recently mined open pit operation currently on care & maintenance, has been re
Slide 11: Canadian Malartic Complex
CANADIAN MALARTIC COMPLEX Flagship royalty on Canada’s 2nd largest operating gold mine Average of ~580koz Au produced annually over 2023 - 2028 from Barnat Pit and Odyssey Underground (open pits are exhausted by 2028)8 Underground steady state production plan of 500 - 600koz of gold per year startin
Slide 12: Canadian Malartic Complex
CANADIAN MALARTIC COMPLEX Complex expected to have ~40ktpd of excess mill capacity starting in 202810 Shaft #2 at Odyssey Underground currently in concept phase; additional clarity on potential Shaft #2 and Agnico Eagle’s “Fill the Mill” strategy expected over the next 1-2 years11 A potential Shaf
Slide 13: Mantos Blancos
MANTOS BLANCOS Phase I expansion (MBCDP) commercial production achieved in December 202215 Processing rate increased to 20ktpd or 7.3 Mtpa (from 4.2 Mtpa) & mine life extended to 203815 Plant & process bottlenecks worked through in 2023 & H1 202415 Phase I steady-state throughput of 20ktpd expec
Slide 14: An Important Phase of Growth
AN IMPORTANT PHASE OF GROWTH GUIDANCE AND 5-YEAR OUTLOOK18 (oz AuEq) Expansions Odyssey Shaft #2 Others + Development Amulsar Costa Fuego Casino Cascabel Copperwood Renard is Shut Down Hammond Reef + 120,000 - 135,000 Marban Alliance Spring Valley Eagle Mine Suspended Upper Beaver White Pine North E
Slide 15: Key Near-Term Catalysts
KEY NEAR-TERM CATALYSTS15 CANADIAN Main ramp to East Gouldie ahead of schedule; evaluation to accelerate initial prod’n to 2026 (2024) MALARTIC 3.0-5.0% NSR Abitibi Optimization Canadian Malartic Complex & Wasamac (2025) (Au) CSA 100% Ag + 3-4.875% Continued integration of exploration results into
Slide 16: Balance Sheet Strength
BALANCE SHEET STRENGTH BALANCE SHEET ITEMS September 30, 2024 CREDIT FACILITY(i) (C$ M) As at September 30, 2024 Cash (C$ M) $58.5 �200 Investments (C$ M)19 $186.8 Debt (C$ M) $80.7 Basic Shares Outstanding (M) 186.3 AVAILABLE CREDIT: �469 $669 M20 CASH FLOW WATERFALL (C$ M)18 Year-to-Date 2024 Incr
Slide 17: Q3 2024 Results Presentation Appendix
Q3 2024 RESULTS PRESENTATION APPENDIX
Slide 18: Q3 2024 Results
Q3 2024 RESULTS THREE MONTHS ENDED (C$ 000) September 30, 2024 September 30, 2023 GOLD PRODUCTION (oz) 11,984 15,443 SILVER PRODUCTION (oz AuEq) 4,827 5,663 COPPER PRODUCTION (oz AuEq) 1,329 - OTHER PRODUCTION (oz AuEq) 268 2,186 TOTAL PRODUCTION (oz AuEq) 18,408 23,292 REALIZED GOLD PRICE (C$ per o
Slide 19: Q3 2024 Revenues & Cash Margin Breakdown
Q3 2024 REVENUES & CASH MARGIN BREAKDOWN THREE MONTHS ENDING (C$ 000) September 30, 2024 September 30, 2023 ROYALTIES: Revenues $38,472 $37,410 Cost of Sales (Excluding Depletion) $(66) $(193) CASH MARGIN2: $38,406 $37,217 STREAMS: Revenues $18,783 $24,659 Cost of Sales (Excluding Depletion) $(2,075
Slide 20: Equity Portfolio Breakdown
EQUITY PORTFOLIO BREAKDOWN (C$ M) - As at September 30, 2024 OTHERS �15.7 �96.3 | 39.0% OWNERSHIP(i) ASSETS INTEREST MARKET CARIBOO (Au) 5.0% NSR ROYALTY �74.8 | 5.4% OWNERSHIP VALUE: TINTIC (Au, Ag, Cu) 2.5% METALS STREAM SAN ANTONIO ASSET INTEREST $186.819 (Au, Ag) 15% STREAM 100% Ag STREAM + CSA
Slide 21: Unlocking Value
UNLOCKING VALUE SENIOR-QUALITY LOW-RISK PROLONGED EXISTING ASSET ACTIVE PORTFOLIO WITH PRECIOUS PERIOD OF NAV EXPECTED TRANSACTION HIGH METALS GROWTH FROM TO GROW, AS MARKET FOR REPLACEMENT EXPOSURE TO ASSETS ALREADY WELL AS RE- NEW GROWTH VALUE ‘TIER 1’ MINING PAID FOR RATE OPPORTUNITIES JURISDICTI
Slide 22: Endnotes
ENDNOTES 1. Gold equivalent ounces (“GEOs”) are calculated on a quarterly basis and include royalties and streams. Silver ounces and copper tonnes earned from royalty and stream agreements are converted to gold equivalent ounces by multiplying the silver ounces or copper tonnes by the average silver