Osisko Metals (OM) Investor presentation summary

Strategic positioning and leadership

• Positioned as a leading copper development company in Canada with a strong track record of shareholder returns and experienced management team.

• Management has overseen major gold and copper projects, including Canadian Malartic and Windfall, with multi-billion dollar transactions.

• Approximately 80% of shares are institutionally or strategically held, with major investors including Agnico Eagle, Hudbay, Franco-Nevada, CDPQ, and Glencore.

Gaspé Copper project highlights

• Gaspé Copper is one of North America's largest undeveloped copper projects, with significant infrastructure already in place.

• Current in-pit measured and indicated resources total 1.83 Bt at 0.32% CuEq, with 0.24 Bt inferred at 0.46% CuEq.

• The project is fully funded for a 50,000-metre drill program in 2026, targeting resource conversion, expansion, and higher-grade skarn zones.

• Metallurgical tests indicate high recoveries and clean concentrates: 89–91% copper recovery at 25% concentrate grade, and 72% molybdenum recovery at 58% concentrate grade.

• Glencore holds a strategic offtake agreement and royalty interests, with a $25M convertible note and $20M milestone payment upon commercial production.

Project development and timeline

• Six-year timeline to potential mine start-up, with key milestones including updated MRE, PEA, feasibility study, permitting, and construction.

• Production could begin as early as 2032, with a modeled operation of 160,000–200,000 tonnes per day and over 140,000 tonnes of copper produced annually.

• The project benefits from proximity to a deep-sea port, paved highway, and power infrastructure.