Osisko Development (ODV) Investor Presentation summary

Strategic vision and positioning

• Advancing the fully permitted Cariboo Gold Project in British Columbia, targeting production by 2028 with a 10-year mine life and robust economics, including a base case after-tax NPV5% of $943 million and IRR of 22.1%.

• Focused on scalable, district-scale assets with significant exploration upside in Canada (Cariboo), the US (Tintic), and Mexico (San Antonio).

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

• Strong commitment to responsible mining, Indigenous partnerships, and community involvement.

Cariboo Gold Project highlights

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

• Feasibility study outlines 190 koz/year LOM average gold production (202 koz/year first 5 years), US$1,157/oz AISC, and $881M initial capex.

• Positioned in the lower half of the global gold cost curve, with significant resource conversion and exploration potential at depth.

• Permitting completed in 2024; pre-construction and infill drilling underway, with strong government and Indigenous support.

Financial and capital structure

• Secured US$203M in equity financing and a US$450M project financing facility, fully drawn and de-risked for Cariboo development.

• Market capitalization of C$1.4B, with C$481M in cash and equivalents and C$139M in long-term debt as of December 2025.

• Institutional investors hold 47% and insiders 23% of shares; analyst coverage from major financial institutions.