Ms. Joanne Ferstman reports

OSISKO ANNOUNCES APPOINTMENT OF PAUL MARTIN AS INTERIM CEO

Osisko Gold Royalties Ltd. has appointed Paul Martin, an experienced mining executive, as its interim chief executive officer, and notes the departure of its president and chief executive officer, Sandeep Singh, effective immediately. Osisko's board of directors has commenced a search for a new permanent president and chief executive officer.

Mr. Martin has significant experience in multioperational, internationally focused mining companies. His appointment will ensure a smooth transition and continuity of Osisko's existing disciplined strategy while the board undertakes its search for the new president and chief executive officer.

Osisko also announced today that Sean Roosen will be transitioning from his role as executive chair of the board to non-executive chair of the board, effective immediately. This change reflects Mr. Roosen's desire to focus more on his role at Osisko Development Corp., while maintaining his valuable insights and guidance within the corporation.

"The board remains committed to continuing our focus on prudent capital allocation and ensuring sustainable value creation," said Joanne Ferstman, Osisko's lead director, on behalf of the board. "After careful consideration, the independent directors unanimously concluded that a change of CEO was necessary to best position Osisko for continued long-term success. As part of our commitment to continuous governance improvement, we are also pleased to announce Mr. Roosen's transition into the more traditional role of chair of the board. We look forward to his continued significant contributions to sustainable value creation at Osisko."

"I want to thank Mr. Martin for stepping into the interim role and facilitating a smooth transition as the board undertakes a thorough search for our next chief executive officer," said Mr. Roosen, chair of the board. "Osisko is stronger than ever, and the changes announced today will best position us as we enter the next exciting growth phase of our business."

Mr. Martin has more than 30 years of leadership experience in the mining industry. He served as president and chief executive officer of Detour Gold Corp. from 2013 to 2018, after serving as Detour's chief financial officer from 2008 to 2013. He previously served as chief financial officer and vice president, finance, of New Gold Inc. from 2005 to 2008, and as chief financial officer of Gabriel Resources Ltd. from 2000 to 2005. He currently serves as chair of the board of Red Pine Exploration Inc.

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.

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