Leading Independent Proxy Advisory Firms Recommend Osisko Shareholders Vote FOR All Proposed Items at the Upcoming Annual Meeting

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LEADING INDEPENDENT PROXY ADVISORY FIRMS RECOMMEND OSISKO

SHAREHOLDERS VOTE FOR ALL PROPOSED ITEMS AT THE UPCOMING

ANNUAL MEETING

Montreal, Québec, April 27, 2021 – Osisko Gold Royalties Ltd ("Osisko") (TSX & NYSE: OR) will hold its

2021 virtual annual meeting (the "Meeting") on Wednesday, May 12, 2021 at 3:30 p.m. (Eastern Daylight

Time).

We are pleased to announce that the two leading independent proxy advisory firms that provide voting

recommendations to institutional investors, Institutional Shareholder Services Inc. (“ISS”) and Glass Lewis

& Co. (“Glass Lewis”), have each recommended shareholders vote FOR in respect of all resolutions to be

put forth at the Meeting.

Shareholders are encouraged to vote in advance of the meeting by internet, facsimile, or mail, in the manner

set out in the meeting materials that have been sent to shareholders, copies of which can be accessed on

our website at http://www.osiskogr.com/en/2021-agm/.

YOUR VOTE IS IMPORTANT - PLEASE VOTE TODAY

The Board of Directors recommend that shareholders vote FOR ALL proposed resolutions.

Please submit your vote well in advance of the proxy deposit deadline of

3:30 p.m. (Eastern Daylight Time) on Monday, May 10, 2021.

Shareholders who have questions or require voting assistance may contact Osisko’s proxy

solicitation agent, Laurel Hill Advisory Group, toll free in North America at 1 -877-452-7184

(416-304-0211 outside North America) or by email at [email protected].

About Osisko Gold Royalties Ltd

Osisko is an intermediate precious metal royalty company focused on the Americas that commenced

activities in June 2014. Osisko holds a North American focused portfolio of over 150 royalties, streams and

precious metal offtakes. Osisko’s portfolio is anchored by its cornerstone asset, a 5% net smelter return

royalty on the Canadian Malartic mine, which is the largest gold mine in Canada.

Osisko’s head office is located at 1100 Avenue des Canadiens-de-Montréal, Suite 300, Montréal,

Québec, H3B 2S2.

For further information, please contact Osisko Gold Royalties Ltd:

Heather Taylor

Vice President, Investor Relations

Tel: (514) 940-0670 #105

Email: [email protected]