Osisko Development (ODV) Investor Presentation summary

Strategic vision and positioning

• Advancing the Cariboo Gold Project in Canada, one of the few fully permitted, large-scale gold assets in a Tier 1 jurisdiction, with a focus on scalability and district-scale potential.

• Developing the Tintic Project in Utah, a historic mining district with significant gold, copper, and polymetallic exploration upside.

• 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% owned, underground mine in British Columbia with >185,000 ha land package and 83 km strike length.

• Feasibility Study (2025) outlines a 10-year mine life, 2.07 Moz probable reserves, and up to 223 koz/year gold production at US$1,157/oz AISC.

• Fully permitted with key environmental and operational permits granted in late 2024.

• Initial capex of $881M, after-tax NPV5% of $943M (base case), and IRR of 22.1%.

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

Project development and financing

• Secured US$203M in equity financing and a US$450M project financing facility, fully drawn by July 2025.

• Funds allocated to debt repayment, infill drilling, and construction activities for Cariboo.

• 13,000-metre infill drill program underway to de-risk mine planning and support resource conversion.

• Over 100 personnel advancing pre-construction activities on site.