Osisko Gold Royalties Ltd.

EdgePoint Investment Group seeks to buy growth companies at value prices and makes long-term investments viewing stock as an ownership interest in a company and seeking to acquire these ownership stakes at prices below their assessment of their true worth. The firm focuses on companies with strong competitive positions, defendable barriers to entry and long-term growth prospects that are run by competent management teams. These holdings generally reflect their views looking out more than five years. EdgePoint Investment Group buys good, undervalued businesses and holds them until the market fully recognizes their potential. They sell a security for one of two reasons: (1) if their thesis about the company is deemed no longer valid. If the firm can no longer stand behind their thesis, they can no longer stand behind an ownership interest in the business and the position is sold; and (2) there's a constant culling process whereby they continuously strive to upgrade the quality of their portfolios with better ideas. For fixed income investments, the firm looks for securities that provide an attractive return through coupon payments and/or capital appreciation while focusing on the borrower's (or bond issuer's) ability to meet its debt obligations through the payment of periodic coupons and the return of the original principal at maturity.

Sprott Asset Management offers investors world-class precious metals investments. Their offerings include unique physical bullion trusts, mining ETFs, actively managed equity strategies and highly-specialized private equity and debt strategies. The firm’s equity strategies focus on a broad range of equity investment styles, including growth, core, and value, as well as blended portfolios. Most of the Sprott Funds and the Focus Trust focus on specific ranges on the capitalization scale, from micro-cap, through small-cap and large-cap. Other funds focus on investment opportunities in more than one capitalization category or across all capitalization levels. Sprott Asset Management also manages funds that are global, multi-national, or focused on particular geographic regions or specific countries. The firm engages in fixed income strategies in which they invest in debt securities issued by governments and corporations. The debt securities may have varying maturity terms, credit worthiness, interest coupon, currency denomination, and other attributes which may affect the value.

Sprott Asset Management USA Inc. ("SAM USA") is an SEC Registered Investment Adviser firm that is a member of the Sprott Group of Companies ("Sprott Group").