Mr. Sandeep Singh reports

OSISKO PUBLISHES 2023 ASSET HANDBOOK ALONG WITH 2022 SUSTAINABILITY REPORT

Osisko Gold Royalties Ltd. has published its annual asset handbook and the third edition of the corporation's sustainability report, Growing Responsibly.

2023 asset handbook

Osisko has built a deep portfolio of high-quality royalty and streaming assets, located in favourable jurisdictions and operated by responsible mining partners. The royalty and stream portfolio provides exposure to over 180 assets, including over 20 producing assets which underpin Osisko's 2023 guidance of 95,000 to 105,000 gold equivalent ounces (GEOs) at a 93-per-cent cash margin. To this solid foundation, significant organic growth is expected over the coming years, demonstrated by the corporation's previously announced five-year outlook which projects 130,000 to 140,000 GEOs in 2027.

Osisko's mining partners continue to add value through exploration, with an average of over one million metres drilled over the past six years. This continuing work has unlocked significant upside through new discoveries, reserve and resource additions, as well as mine life extensions and expansions. Over the course of 2022, Osisko's estimate of attributable GEOs in the proven and probable reserve category, net of depletion and covered by Osisko's royalties and streams, increased by 46 per cent, demonstrating the importance of these shared assets to both Osisko and its operating partners.

2022 sustainability report

The 2022 edition of Growing Responsibly, guided by the Global Reporting Initiative, highlights the progress Osisko has made on environmental, social and governance (ESG) matters and the corporation's continuing effort to enhance transparency and accountability. The following are select highlights:

• Formalization of an ESG strategy which commits to upholding sustainable business practices and growing responsibly focused on five key pillars:
  • Due diligence;
  • Climate change;
  • Social contributions;
  • Health and safety;
  • Diversity, equity and inclusion.
• Continuing commitment to the UN Global Compact to formally promote and align with its Ten Principles;
• Participation in the financing of the Magdalena Bay blue carbon project, which has the potential to deliver 40,000 blue carbon credits annually to Osisko. The project aims to preserve 22,000 hectares of coastal mangrove forest from nearby shrimp farming and, in doing so, efficiently sequester and store carbon;
• Expansion of Osisko's climate change disclosures, including reporting emissions associated with its royalty and stream agreements (financed emissions) and business travel;
• Expansion of the company's Sustainability Accounting Standards Board (SASB) disclosures, now reporting against two standards, responding to Osisko's stakeholders' expectations;
• Preservation of a leading position within MSCI and Sustainalytics ESG rankings;
• New membership with the World Gold Council, highlighting Osisko's commitment to responsible gold mining.

In order to continue to shape and expand upon Osisko's focus on ESG initiatives, Heather Taylor has transitioned to a new role as vice-president, sustainability and communications. Ms. Taylor's role will now formally include oversight of environmental, social and governance-related strategy and disclosure.

Sandeep Singh, president and chief executive officer of Osisko, commented: "Our 2023 asset handbook provides a comprehensive review of Osisko's remarkable asset base and also highlights numerous upcoming catalysts that are expected to support the corporation's near-term and long-term growth outlook. In our view, long-term value is created and subsequently preserved only as long as Osisko and its partners develop and operate in a responsible manner. In our third edition of Growing Responsibly, we provide a summary of our recent sustainability initiatives, as well as a framework with respect to the corporation's continued ambitions to improve transparency and accountability. We trust that the asset handbook and sustainability report will assist our stakeholders in understanding the fundamental value of our business, along with our ongoing dedication to sustainability."

The 2023 asset handbook and the 2022 sustainability report, Growing Responsibly, can be found on Osisko's website.

Qualified person

The scientific and technical content of this news release has been reviewed and approved by Guy Desharnais, PhD, PGeo, vice-president, project evaluation, at Osisko Gold Royalties, who is a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

About Osisko Gold Royalties Ltd.

Osisko Gold Royalties is an intermediate precious metal royalty company which 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, one of Canada's largest gold mines.

We seek Safe Harbor.