Osisko Development (ODV) Registration Filing summary

Company overview and business model

• Focuses on developing high-quality, past-producing gold properties in North America, with the Cariboo Gold Project in British Columbia as its flagship asset and the Tintic Project in Utah as a secondary project.

• Aims to become an intermediate precious metals producer by advancing a portfolio of development projects and investments.

• Operates as an exploration and development stage company, relying on equity and debt financing to fund operations and project advancement.

Financial performance and metrics

• As of December 8, 2025, 255,041,700 common shares were outstanding, with additional shares issuable through options, RSUs, DSUs, and various warrants.

• Closed a US$203 million private placement in August 2025, issuing 99,065,330 units at US$2.05 per unit.

• Entered a US$450 million senior secured credit facility in July 2025, with an initial US$100 million draw for project development and debt repayment.

Use of proceeds and capital allocation

• Net proceeds from the private placement are allocated to the construction of the Cariboo Gold Project and general corporate purposes.

• Proceeds from the exercise of up to US$126.8 million in Private Placement Warrants, if realized, will be used for Cariboo Gold Project construction and development.

• The credit facility is used for project development, pre-construction, construction, working capital, and repayment of existing debt.