Ms. Heather Taylor reports

OSISKO ANNOUNCES PUBLICATION OF 2023 SUSTAINABILITY REPORT

Osisko Gold Royalties Ltd. has published its 2023 sustainability report, "Growing Responsibly."

The Report marks the fourth edition of Growing Responsibly and outlines Osisko's key Environmental, Social and Governance ("ESG") achievements in 2023. The Report has been developed in reference to the Global Reporting Initiative and the Sustainability Accounting Standards Board disclosure standards and is guided by the International Financial Reporting Standards S2 climate-related disclosures.

Heather Taylor, Vice President, Sustainability and Communications of Osisko commented: "As Osisko unveils its latest Sustainability Report, Growing Responsibly, the Corporation proudly showcases its 2023 ESG achievements. We recognize our responsibility to operate with integrity, protect the environment, and support the local communities in which we conduct business. Through both collaboration and responsible practices, we strive to create a future where environmental and social impacts go hand in hand with creating long term value. The fourth edition of our Sustainability Report reflects our ongoing dedication to transparency, as well as the positive evolution of our sustainability efforts."

The following are select report highlights:

Environmental Stewardship:

Established a formal 2024-2027 Climate Strategy

Conducted climate scenario analysis of five key assets

Improved reporting on Scope 3 emissions

Purchased and retired carbon credits to offset Scope 2 and Scope 3 emissions related to employee travel and commuting

Supporting our Employees and Communities:

Targeted employee training on diversity, equity and inclusion, health & safety and human rights

Organized corporation-wide volunteering events focused on empowering and uplifting local communities

Formalized Community Investment Guidelines ("CIG")

Increased funding of community investments to over $325,000 in accordance with Osisko's CIG

Adopted new policies relating to Human Resources, Health & Safety, Human Rights and Anti-Bribery, Anti-Corruption and Anti-Money Laundering

Excellence in Governance and Oversight:

Nominated an Independent Chair of the Board to lead the Board of Directors

Appointed a dedicated executive to the role of Vice President, Sustainability and Communications

Maintained zero-incident record of material breaches of Code of Conduct / Whistleblower Reports

Maintained target of over 30% female representation on the Board of Directors

Enhanced ESG due diligence process for investments with launch of a screening and monitoring tool

Transparency and Recognition:

Increased MSCI rating to 'AA'

Top scorer for Sustainalytics:

Ranked 6 out of 120 for Precious Metals industry

Ranked 4 out of 90 for Gold sub-industry

Recognized as ESG Regional Top Rated and ESG Industry Top Rated

About Osisko Gold Royalties Ltd

Osisko is an intermediate precious metal royalty company focused on the Americas that commenced activities in June 2014. Osisko holds a North American focused portfolio of over 185 royalties, streams and precious metal offtakes. Osisko's portfolio is anchored by its cornerstone asset, a 3-5% net smelter return royalty on the Canadian Malartic Complex, home to one of Canada's largest gold mines.

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