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● Record operating cash flows from the royalties and streams segment of $ 44.1 million Strong cash margin of $ 46.5 million ● Montréal , November 9 , 2021 - Osisko Gold Royalties Ltd ( the " Company " or " Osisko " ) ( OR : TSX & NYSE ) today announced its consolidated financial results for the third quarter of 2021. Amounts presented are in Canadian dollars , except where otherwise noted . Financial Highlights ● OSISKO ● GOLD ROYALTIES OSISKO REPORTS STRONG THIRD QUARTER 2021 RESULTS O Earned 20,032 GEOs¹ ( Q3 2020 -16,739 GEOS ) Record revenues from royalties and streams of $ 50.0 million ( Q3 2020 – $ 41.2 million ) Cash margin4 of 93 % from royalty and stream interests ( Q3 2020 – 96 % ) ; 97 % excluding the Renard diamond stream Consolidated cash flows from operating activities of $ 41.1 million ( Q3 2020 - $ 36.1 million ) Record operating cash flows from the royalties and streams segment² of $ 44.1 million ( Q3 2020 - $ 37.3 million ) Operating cash flows from the mining exploration and development segment³ ( i.e. Osisko Development Corp. - TSX - V : ODV ) of ( $ 3.0 ) million ( Q3 2020 – ( $ 1.2 ) million ) Net earnings attributable to Osisko's shareholders of $ 1.8 million , or $ 0.01 per basic share ( Q3 2020 - $ 12.5 million , or $ 0.08 per basic share ) , as a result of impairment charges of $ 33.3 million recorded by Osisko Development Corp. ( " Osisko Development " ) on its mining assets Adjusted earnings5 of $ 17.9 million , or $ 0.11 per basic share³ ( Q3 2020 – $ 17.5 million , or $ 0.11 per basic share ) O Adjusted earnings5 from the royalties and streams segment² of $ 23.3 million , or $ 0.14 per basic share5 ( Q3 2020 - $ 18.4 million or $ 0.11 per basic share ) O Adjusted loss5 from the mining exploration and development segment of $ 5.4 million , or $ 0.03 per basic share5 ( Q3 2020 - $ 0.9 million or $ 0.01 per basic share ) Repurchased 1.7 million common shares for $ 26.0 million under the normal course issuer bid Quarterly dividend of $ 0.055 per share declared ( annualized dividend of $ 0.22 per share ) , payable on January 14 , 2022 to shareholders of record as of the close of business on December 31 , 2021 1