GLENCORE CANADA SELLS COMMON SHARES OF OSISKO METALS INCORPORATED

/NOT FOR DISSEMINATION IN THE UNITED STATES OR TO UNITED STATES NEWSWIRE SERVICES/

BAAR, Switzerland, July 27, 2026 /CNW/ -- Glencore Canada Corporation ("Glencore Canada"), a wholly-owned indirect subsidiary of Glencore plc, entered into a private agreement with a third party pursuant to which Glencore Canada agreed to sell 21,500,000 common shares ("Common Shares") of Osisko Metals Incorporated (the "Company") for a total consideration of C$34,305,400.00 (the "Transaction"). The Transaction is expected to close not later than July 29, 2026.

Immediately prior to the Transaction, Glencore Canada beneficially owned or controlled, directly or indirectly, 128,126,804 Common Shares and 3,431,222 common share purchase warrants of the Company ("Warrants"), representing (i) approximately 14.3% of the issued and outstanding Common Shares on a non-diluted basis and (ii) approximately 14.6% of the Common Shares on a partially-diluted basis (assuming, for this purpose, only the exercise of the 3,431,222 Warrants held by Glencore Canada).

After giving effect to the Transaction, Glencore Canada will beneficially own or control, directly or indirectly, 106,626,804 Common Shares and 3,431,222 Warrants, representing (i) approximately 11.9% of the issued and outstanding Common Shares on a non-diluted basis and (ii) approximately 12.2% of the Common Shares on a partially-diluted basis (assuming, for this purpose, only the exercise of the 3,431,222 Warrants held by Glencore Canada).

Glencore Canada holds Common Shares and Warrants for investment purposes and will continue to monitor the business, prospects, financial condition and potential capital requirements of the Company. Depending on its evaluation of these and other factors, Glencore Canada may from time to time in the future decrease or increase its direct or indirect ownership, control or direction over securities of the Company through market transactions, private agreements, subscriptions from treasury or otherwise, or may in the future develop plans or intentions relating to any of the other actions listed in (a) through (k) of Form 62-103F1 – Required Disclosure Under the Early Warning Requirements. Glencore Canada may also in the future exercise its rights under the investor rights agreement between Glencore Canada and the Company dated July 14, 2023.

For the purposes of this news release and the early warning disclosure herein, the number and percentages of Common Shares beneficially owned or controlled by Glencore Canada are calculated based on the Company having 895,042,038 Common Shares issued and outstanding.

This news release is being issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. An early warning report will be filed on SEDAR+ (www.sedarplus.ca) under the Company's issuer profile. Persons who wish to obtain a copy of the early warning report to be filed by Glencore Canada may obtain a copy of such report (i) from SEDAR+ (www.sedarplus.ca) under the Company's issuer profile or (ii) by contacting Peter Fuchs by telephone (at [phone]) or by email (at [email protected]).

Glencore Canada's address is 100 King Street West, Suite 6900, P.O. Box 403, Toronto, Ontario, Canada, M5X 1E3. Glencore Canada is incorporated under the laws of Ontario and is a wholly owned indirect subsidiary of Glencore plc.

The Company's head office is located at 155 University Avenue, Suite 1440, Toronto, Ontario, Canada, M5H 3B7.

This news release does not constitute an offer to sell, nor the solicitation of an offer to buy, the securities in any jurisdiction; nor shall there be any sale of securities mentioned in this news release in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

Notes for Editors

Glencore is one of the world's largest global diversified natural resource companies and a major producer and marketer of more than 60 commodities. Through a network of assets, customers and suppliers that spans the globe, we produce, process, recycle, source, market and distribute the commodities that advance everyday life.

With over 140,000 employees and contractors and a strong footprint in over 30 countries in both established and emerging regions for natural resources, our marketing and industrial activities are supported by a global network of offices.

Glencore's customers are principally industrial consumers, such as those in the automotive, steel, power generation, battery manufacturing and oil sectors. We also provide financing, logistics and other services to producers and consumers of commodities.

Disclaimer

This news release contains statements that are, or may be deemed to be, "forward-looking statements" which are prospective in nature. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from any future event, results, performance, achievements or other outcomes expressed or implied by such forward-looking statements. Except as required by law, Glencore is not under any obligation, and Glencore and its affiliates expressly disclaim any intention, obligation or undertaking, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. For further information, including important factors that could impact these uncertainties see Glencore's latest Annual Report on the publication page of our website at glencore.com/publications.

The companies in which Glencore plc directly and indirectly has an interest are separate and distinct legal entities. In this document, "Glencore", "Glencore group" and "Group" are used for convenience only where references are made to Glencore plc and its subsidiaries in general. These collective expressions are used for ease of reference only and do not imply any other relationship between the companies. Likewise, the words "we", "us" and "our" are also used to refer collectively to members of the Group or to those who work for them. These expressions are also used where no useful purpose is served by identifying the particular company or companies.

SOURCE Glencore Canada Corporation