Mr. Grant Moenting reports

OSISKO ANNOUNCES THE VOTING RESULTS FROM ITS ANNUAL MEETING OF SHAREHOLDERS

At the annual meeting of shareholders held on June 7, 2023, each of the 10 nominees listed in the management information circular filed on May 10, 2023, with regulatory authorities were elected as directors of Osisko Gold Royalties Ltd.

Election of directors

Based on the proxies received by the corporation and the votes on a show of hands, the individuals in the attached table were elected as directors of the corporation until the next annual shareholders' meeting, with the results shown in the attached table.

Appointment and Remuneration of Auditor

Based on the proxies received by the Corporation and the votes on a show of hands, PricewaterhouseCoopers, LLP, Chartered Professional Accountants, was appointed as independent auditor of the Corporation for the ensuing year and the directors are authorized to fix its remuneration, with the following results:

RESOLUTION No. 2                        Votes cast FOR  Percentage (%) of   Votes WITHHELD   Percentage (%)  of 
                                                           votes cast FOR                   votes cast WITHHELD

Appointment and Remuneration of Auditor.   145,556,964              99.71          419,998                 0.29

Approval of the unallocated options under the Stock Option Plan

Based on the proxies received by the Corporation and the votes on a show of hands with respect to the adoption of an ordinary resolution to approve the unallocated options under the Stock Option Plan, the results on this matter were as follows:

RESOLUTION No. 3                Votes cast FOR  Percentage (%) of   Votes AGAINST   Percentage (%)  of 
                                                   votes cast FOR                   votes cast AGAINST

Ordinary Resolution to approve
the unallocated options under
the Stock Option Plan              130,590,365             94.62        7,425,379                 5.38

Approval of the Amendment and Reconfirmation of the Shareholder Rights Plan

Based on the proxies received by the Corporation and the votes on a show of hands with respect to the adoption of an ordinary resolution to amend and reconfirm the Amended and Restated Shareholder Rights Plan, the results on this matter were as follows:

RESOLUTION No. 4                Votes cast FOR  Percentage (%) of   Votes AGAINST   Percentage (%)  of 
                                                   votes cast FOR                   votes cast AGAINST

Ordinary Resolution to amend
and reconfirm the Amended and
Restated Shareholder Rights Plan   133,440,282              96.68       4,575,460                 3.32

Advisory Resolution on Executive Compensation

Based on the proxies received by the Corporation and the votes on a show of hands with respect to the adoption of an advisory resolution accepting the Corporation's approach to executive compensation, the results on this matter were as follows:

RESOLUTION No. 3                Votes cast FOR  Percentage (%) of   Votes AGAINST   Percentage (%)  of 
                                                   votes cast FOR                   votes cast AGAINST


Advisory Resolution on
Executive Compensation             131,282,430              95.12       6,733,309                 4.88

About Osisko Gold Royalties Ltd

Osisko Gold Royalties Ltd 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% net smelter return royalty on the Canadian Malartic mine, one of Canada's largest gold mines.

Osisko's head office is located at 1100 Avenue des Canadiens-de-Montreal, Suite 300, Montreal, Quebec, H3B 2S2.