Mr. Norman MacDonald reports

OSISKO BOARD UPDATE

Sean Roosen has resigned as a director of Osisko Gold Royalties Ltd. in order to focus all of his time and attention on his role as chief executive officer and chair of the board of directors of Osisko Development Corp.

"With the corporation's recent announcement of Mr. Jason Attew as president and chief executive officer and Mr. Norman MacDonald as chair of the board, Osisko Gold Royalties is in extremely strong and talented hands and now is the right time for me to focus all my efforts on the future success of Osisko Development," said Mr. Roosen. "I am proud of my contributions to Osisko Gold Royalties and look forward to watching it create long-term sustainable value for its shareholders over many years ahead as one of the premier intermediate North American precious metal royalty companies."

Norman MacDonald, chair of Osisko's board of directors, said: "On behalf of our board and shareholders, I want to thank Sean for his many contributions to Osisko over the years. As a significant shareholder of Osisko Development Corp., we support his decision to focus his efforts on the success of Osisko Development and look forward, as a shareholder, to enjoying the benefits of him doing so."

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, one of Canada's largest gold mines.