Osisko Gold Group (OGG) Investor presentation summary

Investment overview

• Positioning centers on developing Cariboo into a major Canadian gold mine, with construction underway, permitted assets, district-scale potential and a stated focus on stakeholder partnerships.

• Cariboo is 100% owned in British Columbia; its 2025 feasibility study outlines a 10-year mine life and production of up to 223 koz/year.

• Formal construction decision made in September 2026; first gold pour is targeted for Q1 2029 and commercial production for H2 2029.

Cariboo development and funding

• Go-forward capital obligation is C$990M; estimated sources total C$1.7B, including C$879M in cash, with project completion estimated at 22% as of July 31, 2026.

• Detailed engineering was ~40% complete; procurement and long-lead commitments were ~44% complete, with C$325M committed as of the update.

• Funding slide presents US$1.3B in sources versus US$1.1B in uses, including US$600M senior notes proceeds and a US$120M Trafigura term loan facility.

• More than US$1.3B was raised since August 2025, including US$466M equity, US$260M convertible notes net of capped-call cost and US$600M senior notes.

• More than 350 personnel were advancing site pre-construction; work included underground development, water treatment, waste storage, sediment control, earthworks and portal excavation.

Cariboo economics and operating plan

• 2026 go-forward update estimates 190 koz/year LOM average production, 202 koz/year in the first five years, a 10-year mine life and US$1,163/oz AISC.

• At US$3,570/oz gold and 1.38 FX, after-tax NPV5% is C$2.32B and IRR 34.7%; at US$4,350/oz, NPV5% is C$3.18B and IRR 42.7%.

• At those respective gold-price assumptions, average annual FCF is C$362M and C$485M over LOM, and C$521M and C$642M in the first five years.

• Mine plan uses three areas with aggregate ore feed of 4,900 tpd; LOM recovery is 92.6%, with gravity recovery expected to produce 46% of gold as doré.

• 13,684 m of Lowhee infill drilling broadly validated model assumptions; preliminary internal reconciliation showed localized variation in tonnes, ounces and grades.