Osisko Gold Royalties Ltd (NYSE:OR) Q4 2022 Earnings Conference Call February 24, 2023 10:00 AM ET Company Participants Sandeep Singh - President & CEO Frederic Ruel - VP, Finance & CFO Conference Call Participants Cosmos Chiu - CIBC John Tumazos - John Tumazos Independent Research Ralph Profiti - Eight Capital Operator Good morning, ladies and gentlemen, and welcome to the Osisko Gold Royalties Q4 2022 Results Conference Call. After the presentation, we will conduct a question-and-answer session. [Operator ...

Q3 2022 Financial Highlights - Record revenues of C$53.7 million were achieved[11] - Cash flows from operating activities reached C$51.1 million[11] - Net earnings were C$28.0 million, or C$0.15 per basic share[11] - Adjusted earnings were C$25.8 million, or C$0.14 per basic share[11] - A cash margin of 92% was reported on royalties and streams[11] Production and Royalties - A record of 23,850 GEOs (Gold Equivalent Ounces) was earned[12] - Gold production accounted for 15,455 GEOs, representing 64.8% of total GEOs[14] - Silver production contributed 4,851 GEOs, which is 20.3% of total GEOs[14] - Diamonds and other commodities accounted for 3,544 GEOs, or 14.9% of the total GEOs[14] Recent Transactions and Developments - Acquired a 1.0% NSR royalty on the Marimaca copper project in Chile for US$15.5 million (C$20.3 million)[11] - Entered into a binding agreement with SolGold for a US$50 million royalty financing related to the Cascabel copper-gold property in Ecuador, securing a 0.6% NSR royalty[12] - Osisko Bermuda closed a metals stream on the Trixie mine in Utah for US$20.0 million (C$27.1 million) in exchange for 2.5% of all metals produced[13]

Osisko Gold Royalties Ltd (NYSE:OR) Q3 2022 Earnings Conference Call November 10, 2022 10:00 AM ET Company Participants Sandeep Singh - President and Chief Executive Officer Frédéric Ruel - Chief Financial Officer and Vice President, Finance Conference Call Participants Trevor Turnbull - Scotia Bank Operator Good morning ladies and gentlemen, and welcome to the Osisko Gold Royalties Q3 2022 Results Conference Call. [Operator Instructions] Please note that this call is being recorded today, November 10, 2022 ...

Financial Data and Key Metrics Changes - Osisko Gold Royalties recorded revenues of $51.5 million in Q2 2022, up from $50.7 million in Q1 2022 and $49.9 million in Q2 2021 [44] - Consolidated net earnings to Osisko shareholders were $17.2 million or $0.09 per share, compared to a net loss of $14.8 million or $0.09 per share in Q2 2021 [45] - Adjusted earnings for the royalty business amounted to CAD 25.7 million or CAD 0.14 per share, while an adjusted loss of $30 million from Osisko Development resulted in a consolidated adjusted loss of $4.7 million or $0.03 per share [46] Business Line Data and Key Metrics Changes - The company delivered 22,200 GEOs in Q2 2022, an increase from 20,000 GEOs in Q2 2021, contributing to a gross profit of $35.9 million [47] - Cash margin from royalties reached $34.4 million, while cash margin from streams amounted to $13.4 million, resulting in a quarterly record of $47.8 million or 93% [48] Market Data and Key Metrics Changes - The company expects a significant uptick in GEO deliveries in the second half of the year, driven by core assets that continue to perform well despite some assets not being at full capacity [5][12] - The diamond market has seen a step change, with average prices reaching $124 per carat in Q2 2022, compared to pre-COVID levels of around $70 [27] Company Strategy and Development Direction - The company aims to focus on organic growth and is not looking to stretch for growth through acquisitions that would dilute existing shareholder value [59] - Osisko Gold Royalties is optimistic about the second half of the year, with expectations of strong cash margins and operating cash flows from royalty and stream interests [51] Management's Comments on Operating Environment and Future Outlook - Management noted that the backdrop for gold remains strong despite market volatility, and they expect to benefit from opportunities in a tightening capital market [10][60] - The company is focused on improving its financial reporting clarity by reducing the noise from the consolidation with Osisko Development [67] Other Important Information - The company repaid its credit facility in full, leaving it with $650 million available under its credit facility [50] - Osisko Gold Royalties has returned over $204 million to shareholders since its inception, with a dividend yield of approximately 1.7% [48] Q&A Session Summary Question: What were the drivers behind the $20 million investment at Tintic? - The investment was based on the financing success of Osisko Development, which raised approximately CAD 230 million, leading to a lower funding requirement from Osisko Gold Royalties [55][56] Question: Is there increased competition in the streaming market affecting valuations? - Management acknowledged the competitive nature of the market but emphasized that they do not need to stretch for growth and have a strong pipeline of organic growth opportunities [58][60] Question: How should investors think about tax bills going forward? - Most taxes for 2022 are deferred taxes, with cash taxes expected to start in 2023 and more significantly in 2024 [65][66] Question: What is the status of consolidation with Osisko Development? - Management is focused on reducing the noise from consolidation and is in discussions with auditors to clarify financial reporting [67] Question: When should production start at San Antonio? - A trickle of ounces is expected to come from stockpiles, with more meaningful production dependent on permitting for the larger oxide project [70][72] Question: What is the expected mine life for Renard? - The mine life is still being assessed, but there are opportunities for extension through further development [90][91] Question: How much does Osisko Gold Royalties hold in other spin-offs? - The company holds significant shares in Osisko Development and Osisko Mining, with smaller positions in other early-stage companies [96] Question: When is the largest year-to-year growth expected? - The company projects a growth from 80,000 ounces last year to 130,000 to 140,000 ounces by 2026, with significant contributions expected from various assets [98]

OSISKO GOLD ROYALTIES LTD . . . . . . . . . . . . . . . . . . Unaudited Condensed Interim Consolidated Financial Statements For the three and six months ended June 30, 2022 Osisko Gold Royalties Ltd Consolidated Balance Sheets (Unaudited) (tabular amounts expressed in thousands of Canadian dollars) | | | June 30, | December 31, | | --- | --- | --- | --- | | | | 2022 | 2021 | | | Notes | $ | $ | | Assets | | | | | Current assets | | | | | Cash | 5 | 449,283 | 115,698 | | Amounts receivable | | 27,736 | 14,69 ...

● OSISKO GOLD ROYALTIES Q1 2022 RESULTS May 12, 2022 WWW.OSISKOGR.COM | NYSE&TSX:OR FORWARD LOOKING STATEMENTS Certain statements contained in this presentation may be deemed "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking statements are statements other than statements of historical fact, that address, without limitation, f ...

Financial Data and Key Metrics Changes - Revenues from royalties and streams reached CAD 50.7 million in Q1 2022, compared to CAD 49 million in Q1 2021, indicating a slight increase [18] - Cash flows from operations for the royalties and streams segment were CAD 40.5 million, up from CAD 27 million in Q1 2021 [19] - Adjusted earnings for the quarter were CAD 2.2 million or CAD 0.01 per share, down from CAD 7.6 million or CAD 0.06 per share in Q1 2021, primarily due to mining operating expenses incurred by Osisko Development [19] Business Line Data and Key Metrics Changes - The company deployed 18,251 GEOs in Q1 2022, with a gross profit of CAD 36.2 million, compared to CAD 34.6 million in the previous year [20] - The cash margin on royalties reached CAD 25 million, while the cash margin on streams amounted to CAD 12.6 million, contributing to a record quarterly cash margin of CAD 47.5 million [21] Market Data and Key Metrics Changes - The company reported a strong cash balance of CAD 449 million at the end of Q1 2022, including CAD 293 million for Osisko Gold Royalties and CAD 57 million for Osisko Development [22] - The company held investments valued at CAD 250 million and an investment in Osisko Development valued at over CAD 400 million [22] Company Strategy and Development Direction - The company aims to unlock the value of its current portfolio, focusing on organic growth while remaining open to potential consolidation opportunities in the future [28][30] - The company expects a strong second half of 2022, with growth assets steadily advancing towards production projections [10] Management's Comments on Operating Environment and Future Outlook - Management noted that Q1 was lighter than expected due to seasonality and operational ramp-ups, but they anticipate a strong recovery in the second half of the year [8][9] - The company is confident in its business model's ability to provide inflation protection amid market volatility [9] Other Important Information - The company paid a dividend of CAD 0.055 on March 31, 2022, and announced the same for July 15, 2022 [5] - The Renard stream has been reactivated, contributing positively to the company's operations [3][6] Q&A Session Summary Question: Timing of CSA transaction closure - Management expects clarity on the CSA transaction in the coming weeks, as the funding package will need to be disclosed during the De-SPACing process [25][26] Question: Strategic outlook on consolidation - Management believes that while consolidation in the sector is healthy, the primary focus remains on unlocking the value of the current portfolio rather than pursuing consolidation at this time [27][28]

OSISKO GOLD ROYALTIES LTD . . . . . . . . . . . . . . . . . . Unaudited Condensed Interim Consolidated Financial Statements For the three months ended March 31, 2022 Osisko Gold Royalties Ltd Consolidated Balance Sheets (Unaudited) (tabular amounts expressed in thousands of Canadian dollars) | | | March 31, | December 31, | | --- | --- | --- | --- | | | | 2022 | 2021 | | | Notes | $ | $ | | Assets | | | | | Current assets | | | | | Cash | 4 | 449,450 | 115,698 | | Restricted cash | 12 | 206,490 | - | | Shor ...

OSISKO GOLD ROYALTIES Q4 and YEAR 2021 RESULTS FEBRUARY 25, 2022 FORWARD LOOKING STATEMENTS Certain statements contained in this presentation may be deemed "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking statements are statements other than statements of historical fact, that address, without limitation, future events, produ ...

Osisko Gold Royalties (NYSE:OR) Q4 2021 Earnings Conference Call February 25, 2022 10:00 AM ET Company Participants Sandeep Singh – President and Chief Executive Officer Frederic Ruel – Vice President of Finance and Chief Financial Officer Sean Roosen – Executive Chairperson Board of Directors Conference Call Participants Michael Gentleman – Bank of America Puneet Singh – LA Capital Markets Joshua Wolfson – RBC Capital Markets Don Vice – Paradigm Capital Markets Trevor Turnbull – Scotiabank Operator Good mo ...