Osisko Development (ODV) Investor presentation summary

Strategic vision and positioning

• Advancing the fully permitted Cariboo Gold Project in British Columbia, targeting production among Canada's top underground gold mines with significant scalability and exploration upside.

• Focused on district-scale assets, including the historic Tintic Project in Utah, with multi-metal potential and extensive past production.

• Led by an experienced management team with a track record of major mine development and stakeholder engagement.

• Strong emphasis on responsible mining, Indigenous partnerships, and community involvement.

Cariboo Gold Project highlights

• 100% owned, >185,000 ha property with 2.07 Moz probable reserves, 1.61 Moz M&I, and 1.86 Moz inferred resources.

• Feasibility Study (2025) outlines a 10-year mine life, 190 koz/year LOM average, US$1,157/oz AISC, and after-tax NPV5% of C$943M at US$2,400/oz gold.

• Permits and environmental approvals secured in 2024; construction-ready with pre-construction activities underway.

• Robust infrastructure, grid power, and year-round access support operational efficiency.

Project economics and financing

• Initial capex of C$881M (~US$652M), with total LOM capex of C$1.4B.

• Project financing milestones include US$203M (Aug 2025), US$450M facility (Jul 2025), C$82.5M (Oct 2025), and US$143.8M (Feb 2026) in equity and debt.

• After-tax IRR of 22.1% (base case), payback in 2.8 years, and strong leverage to higher gold prices.

• Positioned in the lower half of the global gold cost curve for both total cash cost and AISC.