Osisko Metals Incorporated · TSX:OM
Osisko Metals — Investor Presentation (September 2025)
22 slides from Osisko Metals's investor presentation, Sep 3, 2025
Slide 1: Canada's Leading Copper Development Company
Canada’s Leading Copper Development Company September 2025 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* 824 Mt Indicated 670 Mt Inferred • 0.27 Cu % • 0.30 Cu % • 0.015 Mo % • 0.020 Mo % • 1.74 g/t Ag • 1.37 g/t Ag • 0.34 Cu Eq •
Slide 6: 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 609.6M Canaccord Genuity Market capitalization C$256M Peter Bell, Steve Searles Cash C$100M Glencore convertible debenture C$40M Hannam & Partn
Slide 7: Gaspé Copper today
Gaspé Copper today Porphyry Mtn. Oxide Stockpiles Copper Mtn. Pit Copper Mtn. Former Smelter Location Water Treatment Plant Garages and 2025 Drilling Area Administration Buildings Needle Mtn. Pit TSX: OM | OTCQX: OMZNF | FRA: 0B51 7
Slide 8: Gaspé Copper 2025: minimum 110,000 metre drill program
Gaspé Copper 2025: minimum 110,000 metre drill program N Fully-funded 110,000-metre drill program with 10 rigs turning aimed at: • converting existing resources into the indicated and measured resource categories • testing potential expansion of the resources: o to 250 metres below the current resou
Slide 9: Gaspé Copper geological cross section
Gaspé Copper geological cross section View looking NE FALL 2024 MRE INDICATED 824 Mt @ 0.34% CuEq SPRING 2024 MRE INFERRED 670 Mt @ 0.39% CuEq C Zone E Zone 2025 Drill program to Porphyry Mtn target: confirm and expand Underground bulk- tonnage potential from the resource 1994 discovery TSX: OM | OT
Slide 10: New Gaspé Copper Drill Intercepts September 4, 2025
New Gaspé Copper Drill Intercepts September 4, 2025 30-1104 30-1097 30-1100 30-1101 792.0 m @ 0.20% Cu and 1117.5 m @ 0.25% Cu 228.5 m @ 0.25% Cu and 148.5 m @ 0.32% Cu and 1.33 g/t Ag and 1.81 g/t Ag 1.61 g/t Ag 2.52 g/t Ag 3.0 km Open In-pit Resource Effective Date November 4, 2024 30-1105 0.12% c
Slide 11: Large-scale potential of mineralization at Gaspé Copper
Large-scale potential of mineralization at Gaspé Copper Needle Mountain Copper Historical Pit Mountain Historical Pit Open Resource Block Model Effective Date November 4, 2024 0.12% copper cut-off Porphyry Intrusion 824 Mt Indicated • 0.27 Cu % • 0.015 Mo % • 1.74 g/t Ag • 0.34 Cu Eq 670 Mt Inferred
Slide 12: Large, long mine life – Low strip ratio; Positive 2024 metallurgical test
Large, long mine life – Low strip ratio Positive 2024 metallurgical test Large, long mine life • Modelled base case pit shell measures 700 X 2,000 metres and reaches a maximum depth of approximately 800 metres (2024 MRE) • Low open pit strip ratio of 1.5 (2024 MRE) • Envisioning 160,000 – 200,000 to
Slide 13: A responsible development project focused on sustainable development and respect for host communities
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 seven-year timeline to potential mine start-up
A seven-year timeline to potential mine start-up 2022-2024 2025-2028 2029 2030-2031 2032 ✓ July 2023: closing of • Environmental and socio- •Potential start of • Public hearings Gaspé Copper acquisition economic impact studies production • Permit issuance • Project financing ✓ 42,000 metre definitio
Slide 15: World class copper assets: Gaspé compares favourably and has room to grow
World class copper assets: Gaspé compares favourably and has room to grow Copper Resources (Cu Blbs) & Grade (M&I % Cu) M&I Resources (Cu) Inferred Resources (Cu) M&I Cu Grade (%) 15.0 1.35% 1.24% 1.19% 1.20% 12.5 1.05% 10.0 0.90% 4.4 Contained Cu (Blbs) M&I Cu Grade (%) 0.75% 7.5 0.61% 0.60% 0.45%
Slide 16: 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 with closing of $107M bought-deal financing – fully finance
Slide 17: Appendices
Appendices TSX: OM | OTCQX: OMZNF | FRA: 0B51 17
Slide 18: 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 19: New in-pit Indicated Resource outlines largest undeveloped Cu-Mo deposit in Eastern North America
New in-pit Indicated Resource outlines largest undeveloped Cu-Mo deposit in Eastern North America NI 43-101 Mineral Resource Estimate (base case at 0.12% copper cut-off) Copper Tonnes equivalent Copper Copper Copper Molybdenum Molybdenum Molybdenum Silver Silver Class Mt % % M lbs kt % M lbs Kt g/t
Slide 20: Historical Assay Results from Porphyry mountain
Historical Assay Results from Porphyry mountain Large-scale potential of mineralization at Gaspé Copper • 14 historical drill holes assay results; below 2024 MRE resource and pitshell • Remains open at depth • Future underground bulk-tonnage potential Historical assay results Vertical Drill Hole Fro
Slide 21: <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 21
Slide 22: www.osiskometals.com
www.osiskometals.com TSX: OM | OTCQX: OMZNF | FRA: 0B51 22
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