Ms. Heather Taylor reports

LEADING INDEPENDENT PROXY ADVISORY FIRMS RECOMMEND OSISKO SHAREHOLDERS VOTE FOR ALL PROPOSED ITEMS AT THE UPCOMING ANNUAL MEETING

Osisko Gold Royalties Ltd. will hold its 2023 annual meeting on Wednesday, June 7, 2023, at 11 a.m. (Eastern Daylight Time).

The company is pleased to announce that Institutional Shareholder Services Inc. (ISS) and Glass Lewis & Co. have each recommended shareholders vote for in respect of all resolutions to be put forth at the meeting.

Shareholders are encouraged to vote in advance of the meeting by Internet, facsimile or mail, in the manner set out in the meeting materials that have been sent to shareholders, copies of which can be accessed on the company's website.

Your vote is important -- please vote today

The board of directors recommends that shareholders vote for all proposed resolutions.

Please submit your vote well in advance of the proxy deposit deadline of 11 a.m. (Eastern Daylight Time) on Monday, June 5, 2023.

Shareholders who have questions or require voting assistance may contact Osisko's proxy solicitation agent, Laurel Hill Advisory Group, toll-free in North America at 1-877-452-7184 (416-304-0211 outside North America) or by e-mail at assistance@laurelhill.com .

About Osisko Gold Royalties Ltd.

Osisko Gold Royalties is an intermediate precious metal royalty company that holds a North American-focused portfolio of over 180 royalties, streams and precious metal offtakes. Osisko's portfolio is anchored by its cornerstone asset, a 5-per-cent net smelter return royalty on the Canadian Malartic mine, which is the largest gold mine in Canada. Osisko's head office is located at 300, 1100 Ave. des Canadiens-de-Montreal, Montreal, Que., H3B 2S2.