ODV Investor Presentation

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# ODV Investor Presentation

Source: https://osiskodev.com/_resources/presentations/ODV-Investor-Presentation.pdf
Published: 2026-05-01T00:00:00+00:00
Fetched: 2026-05-12T13:32:23.762+00:00
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## Content

# ODV Investor Presentation
MAY 2026
GEARING UP TO BUILD CANADA’S
NEXT MAJOR GOLD MINE
INVESTOR PRESENTATION
ODV NYSE TSXV | osiskodev.com
CAUTIONARY STATEMENTS
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION Project; the ability of the Company to discover additional deposits within the Cariboo Gold Project area; the ability of the Company to complete
its exploration and development objectives for its projects in the timing contemplated and within expected costs (if at all); the ability to derisk
Certain statements contained in this presentation (this "Presentation") may be deemed "forward-looking statements" within the meaning of
the Cariboo Gold Project towards a final investment decision; the ability to adapt to changes in gold prices, estimates of costs, estimates of
the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian
planned exploration and development expenditures; the profitability (if at all) of the Company's operations; the availability of additional
securities legislation (together, "forward-looking statements"). These forward-looking statements, by their nature, require Osisko Development
Corp. ("Osisko Development", "ODV", or the "Company") to make certain assumptions and necessarily involve known and unknown risks and optimization opportunities at the Cariboo Gold Project and the impact thereof on project economics; as well as other considerations that are
believed to be appropriate in the circumstances, and any other information herein that is not a historical fact may be "forward looking
uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Forward-
information".
looking statements are not guarantees of performance. Words such as "may", "will", "would", "could", "expect", "believe", "plan", "anticipate",
"intend", "estimate", "continue", "objective", "strategy", "target", variants of these words or the negative or comparable terminology, as well as Material assumptions also include, assumptions and qualifications underlying the 2025 Cariboo FS, management's perceptions of historical
terms usually used in the future and the conditional, are intended to identify forward-looking statements. trends, management's understanding of the permitting process and status thereof, the ability of exploration (including drilling and chip
sampling assays, and face sampling) to accurately predict mineralization; budget constraints and access to capital on terms acceptable to the
Information contained in forward-looking statements is based upon certain material assumptions that were applied in drawing a conclusion or
Company, current conditions and expected future developments, regulatory framework remaining defined and understood, results of further
making a forecast or projection, including the assumptions, qualifications and limitations relating to an optimized feasibility study for the
exploration work to define or expand any mineral resources, gold prices, the costs required to advance the Cariboo Gold Project to construction,
Cariboo Gold Project (the "2025 Cariboo FS") (including, but not limited to, the mineral resources, mineral reserves, production profile, mine
the results of the 2025 Cariboo FS as an indicator of quality and robustness of the Cariboo Gold Project, as well as other considerations that are
design and project economics); the Company being construction and operation ready and the timing for the commencement of construction
believed to be appropriate in the circumstances. Osisko Development considers its assumptions to be reasonable based on information
activities; the ability and timing of the Company to deliver any additional optimization opportunities; the availability and use of proceeds of the
currently available, but cautions the reader that their assumptions regarding future events, many of which are beyond the control of Osisko
2025 Appian financing facility (including the ability and timing to satisfy conditions precedents to subsequent draws under the Appian financing
Development, may ultimately prove to be incorrect since they are subject to risks and uncertainties that affect Osisko Development and its
facility (if at all)); other financing arrangements that the Company may negotiate (including, the indications of interest, the type of financing
business. Such risks and uncertainties include, among others, risks relating to third-party approvals, including the issuance of permits by the
arrangements, the size and quantum of such financing arrangements and the ability and timing to reach a definitive agreement in respect of
government, capital market conditions and the Company's ability to access capital on terms acceptable to the Company for the contemplated
such potential financings (if at all)); expectations regarding having access to sufficient funding to construct the Cariboo Gold Project;
exploration and development at the Company's properties; the ability to continue current operations and exploration; regulatory framework
expectations regarding the Company's capital requirements to advance the Cariboo Gold Project to production; the ability of the Company to
and presence of laws and regulations that may impose restrictions on mining; the ability of exploration activities (including drill results and chip
raise or arrange for the remaining funding required to complete the construction of the Cariboo Gold Project; the Company's strategy and
sampling, and face sampling results) to accurately predict mineralization; errors in management's geological modelling; the timing and ability
objectives relating to the Cariboo Gold Project as well as its other projects; the impact of the 2025 Appian financing facility on the Company
and its financial position and allocation; the ability of the Company to service and repay principal related to the 2025 Financing Facility whether of the Company to obtain and maintain required approvals and permits; the results of exploration activities; risks relating to exploration,
development and mining activities; the global economic climate; metal and commodity prices; fluctuations in the currency markets; dilution;
from the operation of Cariboo Gold Project or other sources of funds; the ability and timing of the Company to reach a formal positive final
environmental risks; and community, non-governmental and governmental actions and the impact of stakeholder actions. Readers are urged to
investment decision in respect of the Cariboo Gold Project; the ability and timing of the Company to commence and complete detailed
consult the disclosure provided under the heading "Risk Factors" in the Company's annual information form for the year ended December 31,
engineering / procurement, underground development, construction and ramp-up and first gold pour; the impact and potential of the Cariboo
2025 as well as the financial statements and MD&A for the year ended December 31, 2025, which have been filed on SEDAR+
Gold Project on shareholders, Indigenous nations and other stakeholders; the ability to successfully engage and collaborate with stakeholders,
(www.sedarplus.ca) under Osisko Development's issuer profile and on the SEC's EDGAR website (www.sec.gov), for further information
including reaching agreements with the Xatśūll First Nation; any meaningful re-rate potential through project financing, construction and
regarding the risks and other factors facing the Company, its business and operations. Although the Company believes the expectations
production phases (if at all); Cariboo Gold Project being a unique and scalable project; Cariboo Gold Project being well-positioned among the
conveyed by the forward-looking statements are reasonable based on information available as of the date hereof, no assurances can be given
top underground gold asset in Canada with strong upside potential in the long run; Cariboo Gold Project being well-situated relative to other
as to future results, levels of activity and achievements. The Company disclaims any obligation to update any forward-looking statements,
Canadian underground operations in total cash costs and all-in sustaining costs; the assumptions, qualifications and limitations relating to the
whether as a result of new information, future events or results or otherwise, except as required by law. Forward-looking statements are not
Cariboo Gold Project being fully permitted and the commencement of construction activities; assumptions, qualifications and parameters
guarantees of performance and there can be no assurance that these forward-looking statements will prove to be accurate, as actual results
underlying the 2025 Cariboo FS (including, but not limited to, the mineral resources, mineral reserves, production profile, mine design and
and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on
project economics); the results of the 2025 Cariboo FS as an indicator of quality and robustness of the Cariboo Gold Project, as well as other
forward-looking statements.
considerations that are believed to be appropriate in the circumstances; the ability of the Company to achieve the estimates outlined in the
Cariboo Technical Report in the timing contemplated (if at all); the ability to achieve the capital and operating costs outlined in the Cariboo Unless otherwise noted, this Presentation has been prepared based on information available as of April 30, 2026. All currency references are to
Technical Report (if at all); the ability, progress and timing in respect of pre-construction activities at Cariboo including the 13,000-meter infill Canadian dollars, unless specified otherwise.
drill program, and other surface infrastructure works; the utility and significance of the infill drill program and its ability to inform resource NON-IFRS MEASURES
modeling, mine planning and stope design procedures and parameters (if at all); the timing and status of permitting of the transmission line for
the Cariboo Gold Project; the contemplated work plan and activities at the Cariboo Gold Project and the timing, scope and results thereof and Osisko Development used in this Presentation, certain non-IFRS measures including, "all-in sustaining cost" or "AISC" and "total cash cost" and
associated costs thereto; the ability of the Company to sustain ongoing small-scale heap leach activities at Tintic (if at all); the continuation of "free cash flow". All-in sustaining cost per gold ounce is defined as production costs less silver sales plus general and administrative,
limited activities beyond care and maintenance continuing at the Tintic Project; the potential impact of tariffs and other trade restrictions (if exploration, other expenses and sustaining capital expenditures divided by gold ounces. Cash costs are a non-IFRS measure reported by ODV
any); sustainability and environmental impacts of operations at the Company's properties; mineral resource category conversion; the timing on an ounces of gold sold basis. Cash costs include mining, processing, refining, general and administration costs and royalties but excludes
and status of any additional required permits or amendments thereto, or other regulatory approval requirements; the future development and depreciation, reclamation, income taxes, capital and exploration costs for the life of the mine. Free cash flow is calculated as cash flow from
operations at the Cariboo Gold Project and the Company's other properties and projects (if any); the results of ongoing stakeholder mine-site operating activities

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