Osisko Gold Royalties Ltd (the "Corporation" or "Osisko") (OR: TSX & NYSE) is pleased to announce its second quarter 2024 deliveries, revenues and cash margin, as well as an update on its cash and debt positions as of June 30th, 2024. In addition, Osisko is also providing some select asset updates. All monetary amounts included in this report are expressed in Canadian dollars, unless otherwise noted.

PRELIMINARY Q2 2024 RESULTS

Osisko earned 20,068 attributable gold equivalent ounces1 ("GEOs") in the second quarter of 2024.

Osisko recorded preliminary revenues from royalties and streams of $64.8 million during the second quarter and preliminary cost of sales (excluding depletion) of $2.2 million, resulting in a record quarterly cash margin2 of approximately $62.6 million (or 97%).

As of June 30th, 2024, Osisko's cash position was approximately $65.7 million, following $44.2 million in repayments on the Corporation's revolving credit facility during the second quarter (for total repayments of $87.9 million in the first half of 2024). The Corporation's revolving credit facility was drawn by approximately $109.0 million at the end of June 2024, with an additional amount of $441.0 million available to be drawn plus the uncommitted accordion of up to $200.0 million.