Osisko Development (ODV) Investor presentation summary

Strategic vision and project overview

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

• Cariboo Gold Project features a 10-year mine life, 2.07 Moz probable reserves, and robust economics with a $943M after-tax NPV5% and 22.1% IRR at US$2,400/oz gold price.

• The project is supported by strong stakeholder engagement, including agreements with Indigenous nations and local communities.

• The Tintic Project in Utah, USA, offers additional growth with high-grade gold and silver resources and ongoing exploration.

Financing and capital structure

• Over US$885M raised since securing project financing, including US$450M from Appian and multiple equity financings.

• Initial project financing draw of US$100M is unconditional, with subsequent US$350M subject to standard covenants and an 8-year term.

• Market capitalization stands at C$1.4B with C$594M in cash and equivalents, and a fully diluted share count of 430.5M.

• Institutional investors hold 51% of shares, with significant insider and public float ownership.

Project development and operational highlights

• Cariboo Gold Project is a brownfield site with year-round access, robust infrastructure, and a 24-month mine build targeting first gold in 2028.

• Pre-construction activities involve over 250 personnel, with key infrastructure such as water treatment and camp expansion completed.

• Mine design includes access via two ramps, bulk tonnage long-hole mining, and a processing facility designed for future expansion.

• Ore sorting technology removes marginal material, improving grade and reducing waste, with a projected 92.6% gold recovery.