Mr. Grant Moenting reports

OSISKO ANNOUNCES APPOINTMENT OF JASON ATTEW AS PRESIDENT AND CHIEF EXECUTIVE OFFICER

Osisko Gold Royalties Ltd. has appointed Jason Attew as president and chief executive officer, effective no later than Jan. 2, 2024. Mr. Attew will also join the board of directors of Osisko.

Mr. Attew is an accomplished mining executive with almost 30 years experience in the industry. He brings to Osisko proven corporate leadership, a record of successful team building and deep mining industry connections, built upon a background advising on some of the most transformational mergers and acquisitions in the mining sector.

Mr. Attew's appointment is the culmination of a thorough search process conducted by Osisko's board under the direction of a search committee of independent directors. After considering a number of quality candidates, both external and internal, Osisko's board unanimously concluded that Mr. Attew is the ideal candidate to successfully lead Osisko going forward.

Osisko also announces that Norman MacDonald has been appointed as chair of the board, effective immediately, succeeding Sean Roosen. Mr. Roosen will continue as a director with the title, chair emeritus, to honour his legacy as founder of Osisko and his continuing contributions to the corporation. The change reflects Mr. Roosen's desire to focus on his role as chief executive officer of Osisko Development Corp., while continuing to contribute as a director of Osisko. Mr. Roosen was a founder of Osisko Mining Corp., where he was instrumental in the discovery and development of the Canadian Malartic mine, and also led the efforts that resulted in the creation of the corporation.

"We are extremely pleased to have attracted a new president and chief executive officer of the calibre of Jason Attew, and the entire board looks forward to working with him over the years ahead as we focus on a new and exciting stage of long-term sustainable value creation," said Mr. MacDonald, the new chair of the board. "The board also wishes to express its sincere gratitude to Mr. Sean Roosen, who founded the corporation and grew Osisko from a market capitalization of $400-million to $3.2-billion. We are grateful that Mr. Roosen will continue as a director, allowing us to continue to benefit from his knowledge, experience and connections while the corporation moves forward under the capable leadership of Mr. Attew. Lastly, I want to thank Mr. Paul Martin for his leadership and steady hand as our interim chief executive officer while we undertook our careful CEO search process."

Mr. Attew was most recently the president and chief executive officer of Liberty Gold Corp. Prior to that, he was the president and chief executive officer of Gold Standard Ventures Corp. until its acquisition by Orla Mining Ltd. Previously he served as the chief financial officer at Goldcorp Inc., where, in addition to leading the finance and investor relations operations, he was responsible for Goldcorp's corporate development and strategy, culminating in the $32-billion (U.S.) merger with Newmont Mining Corp. Mr. Attew has extensive capital markets experience from his time in investment banking with the BMO global metals and mining group, where he was at the forefront of structuring and raising significant growth capital as well as advising on both formative and transformational mergers and acquisitions for corporations that have become industry leaders over the past two decades. He is also a director of Evolution Mining Ltd. Mr. Attew holds a bachelor of science (honours) from the University of British Columbia as well as a master of business administration from Queen's University.

In addition to being a director of Osisko since June, 2023, Mr. MacDonald is partner, natural resources, at Fort Capital. He has over 25 years of experience working at natural-resource-focused institutional investment firms, including over 10 years as a senior portfolio manager at Invesco. Mr. MacDonald began his investment career at Ontario Teachers' Pension Plan Board, where he worked for three years in progressive roles from research assistant to portfolio manager. His next role was as a vice-president and partner at Beutel, Goodman & Co. Ltd. Prior to joining Invesco, Mr. Macdonald was a vice-president and portfolio manager at Salida Capital. Mr. MacDonald is currently a director of Advantage Energy Ltd. and G Mining Ventures Corp. Mr. MacDonald holds a bachelor of commerce degree from the University of Windsor and is a CFA charterholder.

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.

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

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