Osisko Metals Incorporated · TSX:OM
Osisko Metals — Investor Presentation (July 2026)
24 slides from Osisko Metals's investor presentation, July 2026
Slide 1: Canada's Leading Copper Development Company
Canada’s Leading Copper Development Company July 2026 TSX: OM | OTCQX: OMZNF | FRA: 0B51
Slide 2: Forward-looking statements and cautionary notes regarding technical information
Forward-looking statements and cautionary notes regarding technical information This presentation (the "Presentation") contains "forward-looking information" within the meaning of applicable Canadian securities legislation. These “forward-looking information” are based on the expectations, estimates
Slide 3: Generating world-class wealth in Quebec
Generating world-class wealth in Quebec > $11 billion in market capitalization value created since 2003 > $100 billion of new wealth creation since 2003 from gold alone…. CANADIAN MALARTIC, QUEBEC WINDFALL, QUEBEC GASPÉ COPPER, QUEBEC 1st Drill Hole Pours 1st Gold Bar Sale for C$4.3Bn Drilling begin
Slide 4: Experienced Canadian mining team with track record of delivering shareholder returns
Experienced Canadian mining team with track record of delivering shareholder returns JOHN BURZYNSKI ROBERT WARES DONALD NJEGOVAN EXECUTIVE CHAIRMAN CHIEF EXECUTIVE OFFICER PRESIDENT CANADIAN MALARTIC: 20M oz Au MARBAN: 3M oz Au WINDFALL: 8M oz Au Canada’s largest Canadian Malartic Quebec’s highest g
Slide 5: Gaspé Copper: one of North America's largest undeveloped copper projects
Gaspé Copper: one of North America’s largest undeveloped copper projects with infrastructure in place Strategic off-take partner GASPÉ COPPER PROJECT Current in-pit resource* 1.83 Bt Measured 0.24 Bt Inferred & Indicated • 0.27 Cu % • 0.41 Cu % • 0.017 Mo % • 0.016 Mo % • 1.57 g/t Ag • 1.88 g/t Ag •
Slide 6: World class copper assets: Gaspé has the potential to become a world leader
World class copper assets: Gaspé has the potential to become a world leader 2025 Drill Program Source: Company Disclosures TSX: OM | OTCQX: OMZNF | FRA: 0B51 1. Market data as of June 30, 2026 6 2. In-pit in situ Cu @ 0.12% CuEq Cut-off (engineering case)
Slide 7: Institutions and strategic investors own approximately 80% of the shares outstanding
Institutions and strategic investors own approximately 80% of the shares outstanding TSX: OM | OTCQX: OMZNF | FRA: 0B51 RESEARCH COVERAGE Shares outstanding 750M Canaccord Genuity Peter Bell, Steve Searles Shares outstanding (Fully Diluted) 1,059M BMO Capital Markets Market capitalization C$1.357B A
Slide 8: Gaspé Copper today
Gaspé Copper today Porphyry Mtn. Oxide Stockpiles DPEX Drill pad locations Copper Mtn. Pit Copper Mtn. Former Smelter Location Garages and Water Treatment Administration Plant Buildings 2026 GCP Needle Mtn. Pit Drilling Area Needle East Mtn. TSX: OM | OTCQX: OMZNF | FRA: 0B51 8
Slide 9: Gaspé Copper 2026: Phase 1 - minimum 50,000 metre drill program
Gaspé Copper 2026: Phase 1 - minimum 50,000 metre drill program N Fully-funded 50,000 metre drill program with 4 rigs turning aimed at: • converting existing resources into the indicated and measured resource categories • testing potential expansion of the resources: o deeper to 250 metres below the
Slide 10: Gaspé Copper geological cross section
Gaspé Copper geological cross section View looking NE 2026 MRE MEASURED & INDICATED 1.83 Bt @ 0.32% CuEq INFERRED 0.24 Bt @ 0.46% CuEq Fall 2024 MRE C Zone E Zone Surface outline 2026 MRE DPEX Target Area 2026 Drill program aims Porphyry Mtn will be to confirm and expand included in next MRE the res
Slide 11: DPEX Program – Porphyry Mountain
DPEX Program – Porphyry Mountain 3.5 km Needle Mountain Historical Pit GCP Copper Mountain Open 30-0943 2026 MRE 852 m @ 0.70% Cu, 2.92 g/t Ag, and 0.062% Mo Resource Block Model Effective Date January 17, 2026 base case at 0.16% CuEq cut-off 1.83 Bt 0.24 Bt -200 m M&I Inferred • 0.27 Cu % • 0.41 Cu
Slide 12: Large, long mine life – Low strip ratio; Positive metallurgical test results
Large, long mine life – Low strip ratio Positive metallurgical test results Large, long mine life • Modelled base case pit shell measures 2.3 X 3.2 kilometres and reaches a maximum depth of approximately 1.15 kilometres (2026 MRE) • Low open pit strip ratio of 1.57 (2026 MRE) • Envisioning 160,000 –
Slide 13: A responsible development project focused on sustainable development
A responsible development project focused on sustainable development and respect for host communities Key strategies include: • Implementing comprehensive engagement strategies for local communities, First Nations, and other stakeholders • Government of Québec leading a pilot project designed to max
Slide 14: A six-year timeline to potential mine start-up
A six-year timeline to potential mine start-up 2026 2027-2028 2029-2031 2032 • Updated MRE (H1) ✓ Completed private placement • Public hearings • Potential start of with strategic investors • PEA production • Permit issuance ✓ Updated MRE (Q1) • Start dewatering the historical pit • Final investment
Slide 15: Osisko Metals: Canada's next leading copper development company
Osisko Metals: Canada’s next leading copper development company Led by a senior multi-disciplinary team with a proven track record of discovery, development, finance, building and operating, and high shareholder returns Strong balance sheet of $180 M (Fully Diluted) with the closing of $32.5M privat
Slide 16: Appendices
Appendices TSX: OM | OTCQX: OMZNF | FRA: 0B51 16
Slide 17: Gaspé Copper acquisition with Glencore Canada
Gaspé Copper acquisition with Glencore Canada Option Terms Price to Pay upon US$25,000,000 through issuance of a convertible note. Exercise of Option The note will be convertible by Glencore into units of Osisko Metals at a price of $0.40 per unit. Each unit will consist of one share and a half-warr
Slide 18: New in-pit measured and indicated resource outlines one of the largest undeveloped Cu-Mo deposits
New in-pit measured and indicated resource outlines one of the largest undeveloped Cu-Mo deposits in North America NI 43-101 Mineral Resource Estimate (base case at 0.16% CuEq cut-off) Cut-off Cut-off Tonnes CuEq Cu Mo Ag Cu Cu Mo Mo Ag Category 1 2 CuEq % NSR Mt % % % g/t M lbs kt M lbs kt Moz Meas
Slide 19: Mineral Resource Estimates at Variable Cut-Off Grades
New in-pit measured and indicated resource outlines one of the largest undeveloped Cu-Mo deposits in North America * Mineral Resource Estimates at Variable Cut-Off Grades CuEq NSR Tonnage Strip Grade Copper Metal Resource Class Cut-off (%) Cut-off (US$) (Mt) Ratio Cu (%) Mo (%) M lbs kt M&I 0.09 5.9
Slide 20: Gaspé Copper 2026 claims boundary
Gaspé Copper 2026 claims boundary N 2026 Gaspé Copper claims boundary Mining concession boundary 2026 active claims boundary TSX: OM | OTCQX: OMZNF | FRA: 0B51 20
Slide 21: DPEX - Historical Assay Results from Porphyry mountain
DPEX - Historical Assay Results from Porphyry mountain Large-scale potential for additional mineralization at Gaspé Copper • Deep-seated deposit located below and NE of the 2026 MRE pitshell that remains open at depth • 13 historical drill holes assay results • Future underground bulk-tonnage potent
Slide 22: Global Base Metals Comps
Global Base Metals Comps Periodical Global Equity Research April 14 2026 CG - Base Metal Price Market Enterprise Target Return 1-Day 1-Week 1-Month 3-Month YTD Ticker Rating P/NAV Projects Commodity Location Analyst Developers 2026/04/13 Capitalization Value Price to Return Return Return Return Retu
Slide 23: <100 kilometres from Murdochville to Gaspé, a deep sea port
<100 kilometres from Murdochville to Gaspé, a deep sea port Murdochville Gaspé 97km TSX: OM | OTCQX: OMZNF | FRA: 0B51 23
Slide 24: www.osiskometals.com
www.osiskometals.com TSX: OM | OTCQX: OMZNF | FRA: 0B51 24