Climate Change Data

Environmental Metrics

ESG Focus Areas

• Sustainability
• Community Relations
• Safety
• Environmental Compliance
• Human Resources

Environmental Achievements

• Deposited $11.6 million for future rehabilitation costs of Canadian Malartic mine, totaling $46.4 million (100% of required guarantee)
• Implementation of a research and development noise reduction plan for mobile equipment
• Development of a sound prediction system
• Installation of insulated walls along ramp and transport roads

Social Achievements

• Active stakeholder program including dialogue with various parties, participation in community projects, and funding initiatives in health, education, and sport
• Committed $500,000 to expand Malartic daycare center, $450,000 for affordable housing, $250,000 for town anniversary celebrations, and $206,000 to FEMO for local projects
• Collaboration with Malartic to establish a regional training site for first responders
• Published fifth annual Sustainability Report covering 2012 activities

Governance Achievements

• Appointment of an Audit Committee composed of independent directors
• Negotiated agreement with lenders to extend repayment period and reduce interest rate
• Repayment of $39.2 million in debt

Climate Goals & Targets

Environmental Challenges

• Challenges in Canadian Malartic mine ramp-up period requiring modifications to crushing circuit and ore conveying system
• Noise and weather constraints affecting mining operations
• 41 notices of non-compliance for Canadian Malartic operations, including administrative and regulatory fines
• 203 complaints filed by Malartic residents regarding noise, dust, blasts, and NOx emissions
• Significant inflation in the mineral industry impacting Hammond Reef project economics

Mitigation Strategies

• Modifications and optimization work at Canadian Malartic mill resulting in near nameplate capacity (98%) in 2013
• Implementation of noise reduction plan, sound prediction system, and insulated walls at Canadian Malartic
• Suspension of night operations to comply with noise standards
• Re-launch of Canadian Malartic Monitoring Committee
• Mitigation measures to reduce impact on Malartic community
• Review of construction and development approach at Upper Beaver to reduce capital outlays

Supply Chain Management

Responsible Procurement

• Cost reduction efforts with suppliers

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Osisko's head office achieved BOMA BEST Silver level certification, indicating good performance in energy, water, waste, and GHG emissions.
• Less than 100 t CO2e in 2019 attributable GHG emissions from Osisko's head office; lower in 2020 due to remote work.
• Over $160 million held in trust for Canadian Malartic Mine closure.

Social Achievements

• Canadian Malartic Mine contributed $30,000 to local COVID-19 relief efforts.
• Canadian Malartic Mine reached a collaboration agreement with four Anishinaabe First Nations communities.
• Éléonore Mine invested over $345,000 in local initiatives through Newmont’s COVID-19 Community Support Fund.
• Osisko supported over C$1.2 million for donations and initiatives in host and regional communities.
• Osisko Development Corp. launched its Sustainable Workforce Initiative in 2020.

Governance Achievements

• Formation of the Environmental and Sustainability Committee of the Board of Directors.
• Separation of the Chair and CEO roles.
• Significant Board refresh in 2020 with four new members.
• Adoption of a majority voting and director resignation policy.
• Adoption of a clawback policy for executive compensation.

Climate Goals & Targets

Environmental Challenges

• Indirect exposure to ESG risks from operating partners.
• COVID-19 restrictions impacting site visits and operations.
• Tailings leakage incident at the Sasa mine.
• Limited data on direct and indirect emissions.

Mitigation Strategies

• Rigorous due diligence process for new investments.
• Close monitoring of asset performance post-transaction.
• Virtual reviews of mines in 2020.
• Rapid response and remediation of tailings leakage at Sasa mine.
• Seeking ESG-specific representations and warranties in contracts.
• Active evaluation of options to offset direct and indirect emissions, including partnership with Carbon Streaming Corporation.

Supply Chain Management

Climate-Related Risks & Opportunities

Opportunities

• Partnership with Carbon Streaming Corporation

Reporting Standards

Frameworks Used: SASB, GRI

Certifications: BOMA BEST Silver

Environmental Metrics

ESG Focus Areas

• Responsible Investing
• Corporate Governance
• Environment
• Social Responsibility
• Human Rights
• Health and Safety
• Human Relations
• Diversity, Inclusion and Discrimination
• Charitable Contributions & Donations

Environmental Achievements

• Achieved BOMA BEST Silver level certification for head office.
• Joined the UN Global Compact.
• Partnered with Carbon Streaming Corporation to promote global decarbonisation and biodiversity efforts.
• Completed an initial review of GHG emissions intensity, showing it's in the lowest quartile among peers.

Social Achievements

• Made a $100,000 donation to Yukon food banks.
• Continued support for the Every Student, Every Day (ESED) program.
• Donated $20,000 to each of four hospital foundations in Abitibi-Témiscamingue.
• Canadian Malartic Partnership received a Distinction Award from the Québec Mining Association.

Governance Achievements

• Launched inaugural ESG report.
• Completed a comprehensive review of sustainability disclosure.
• Enhanced reporting by using two SASB industry standards.

Climate Goals & Targets

Environmental Challenges

• Indirect exposure to ESG risks from mining partners.
• Increasing demands for managing ESG risks and evolving disclosure expectations.

Mitigation Strategies

• Multifaceted due diligence process for evaluating new investments, including ESG risk assessment.
• Ongoing investment management strategy to monitor investments and partner compliance.
• Provisions in royalty and stream agreements for access to information and risk mitigation.
• Elevated oversight of ESG due diligence by the Environmental and Sustainability Committee.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: SASB (Metals & Mining and Asset Management & Custody Activities), UN Global Compact

Certifications: BOMA BEST Silver, International Cyanide Management Institute’s International Cyanide Management Code (Canadian Malartic)

UN Sustainable Development Goals

• All 17 UN Sustainable Development Goals (Rimba Raya Project)

The Rimba Raya REDD+ project contributes to all 17 SDGs.

Awards & Recognition

• Top quartile “A” ESG rating from MSCI
• Ranked #4 out of 123 precious metals companies in Sustainalytics ranking

Environmental Metrics

ESG Focus Areas

• Corporate Governance
• Business Ethics and Integrity
• Climate Change
• Tailings and Waste
• Human Resources
• Community Relations
• Human Rights

Environmental Achievements

• Maintained zero Scope 1 greenhouse gas emissions.
• Reduced Scope 2 emissions by 23% from 2021 to 28.6 tCO2e in 2022.
• Montreal office achieved BOMA BEST Silver level accreditation and ENERGY STAR certification.
• 100% of electricity in Montreal office from renewable hydroelectric sources.

Social Achievements

• Contributed over $235,500 to local charities and community investments.
• Committed US$75,000 per annum for three years toward ESG initiatives in Ecuador.
• Maintained zero incidents of discrimination.
• Maintained zero lost-time incidents for three consecutive years.

Governance Achievements

• Zero material violations reported in relation to the Code of Ethics.
• ESG goals linked to executive compensation with a weighting of 15%.

Climate Goals & Targets

Environmental Challenges

• Relatively small direct impacts on climate change and carbon footprint.
• Data limitations on 2022 GHG emissions from mining partners.

Mitigation Strategies

• Engaged Skarn Associates to quantify GHG emissions from financed assets.
• Plan to develop a climate change strategy with key targets.
• Plan to increase training and development offerings for employees on ESG matters.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI, SASB

Third-party Assurance: None

Environmental Metrics

ESG Focus Areas

• Climate Change
• Biodiversity
• Tailings and Waste
• Water Use
• Human Resources
• Diversity, Equity, and Inclusion
• Health, Safety, and Wellness
• Human Rights
• Community Relations
• Indigenous Relations
• Corporate Governance
• Cybersecurity and Data Privacy
• Business Ethics and Integrity

Environmental Achievements

• Reduced Scope 2 GHG emissions by 8.2% from 2022 (Montréal and Toronto offices only)
• Achieved BOMA BEST Silver accreditation for Montréal office
• Purchased 290 Gold Standard certified carbon credits to offset 2023 Scope 2 and Scope 3 indirect emissions (excluding financed emissions)

Social Achievements

• Contributed $327,900 to local charities and community investments (39% increase from 2022)
• 14 employees participated in two company-wide volunteering events
• Implemented a new internal social investment process and guidelines
• Zero incidents of discrimination

Governance Achievements

• Appointed an independent Chair of the Board
• Appointed a dedicated Vice President, Sustainability and Communications
• Developed and formalized ESG Strategy
• Developed an ESG screening and monitoring tool
• Implemented an anonymous Whistleblower hotline
• Established an Anti-Bribery, Anti-Corruption, and Anti-Money Laundering Policy with 100% employee training
• Zero material violations reported in relation to the Code of Ethics
• Maintained over 30% female representation on the Board of Directors

Climate Goals & Targets

Environmental Challenges

• Climate change impacts on mining partner operations (water stress, flooding, landslides, carbon pricing)
• Increased climate disclosure requirements
• Limited ability to directly influence mining partners' sustainability practices

Mitigation Strategies

• Incorporated ESG and climate-related financial risks into due diligence process for 100% of new agreements
• Developed a 2024-2027 Climate Change Strategy with three pillars (Manage climate-related financial risks, Pursue a low-emission future, Prioritize good governance and transparent disclosure)
• Engaged climate risk experts for scenario analysis of key assets
• Updated ESG due diligence process to cover climate-related risks in more detail
• Seeking to invest in assets with credible decarbonization pathways and responsible emission profiles
• Collaborating with mining partners on decarbonization efforts
• Tracking and disclosing Osisko’s share of financed emissions from producing mines covered by a net zero target

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Incorporation of ESG factors into investment decision-making process

Climate-Related Risks & Opportunities

Physical Risks

• Flooding
• Landslides
• Water stress and drought

Transition Risks

• Carbon pricing
• Increased climate disclosure requirements

Opportunities

• Increased demand for silver due to energy transition

Reporting Standards

Frameworks Used: GRI, SASB, TCFD, UNGC, IFRS S2

Certifications: BOMA BEST Silver (Montréal office), Energy Star (Montréal office)

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed