Mr. Norman MacDonald reports

OSISKO PROVIDES BOARD UPDATE

Osisko Gold Royalties Ltd.'s John R. Baird has resigned as a director of the corporation, effective immediately.

Mr. Baird was appointed to the board as an independent board member in April, 2020. During this time, Mr. Baird served as chair of the governance and nomination committee. The corporation thanks Mr. Baird for his many valuable contributions during his board tenure and wishes him success in his future endeavours.

Norman MacDonald, chair of Osisko's board of directors, commented: "John has been a key independent member of Osisko's board for almost four years, and, over this period, the corporation has benefited greatly from his unique combination of knowledge and experience. On behalf of the board, management and the corporation's shareholders, I would like to extend John all the best going forward."

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 3-to-5-per-cent net smelter return royalty on the Canadian Malartic mine, one of Canada's largest gold mines.