50% ownership, the JV's Board of Directors will comprise four Directors, Geoff Cohen (Chairman) and Adam Fisher, as nominees of Appian, and Robert Wares and Gordon Stothart, as nominees of Osisko Metals. The Chair will have the casting vote on agreed matters requiring simple majority approval and post Appian earning into a >50% ownership, the JV's Board of Directors will be comprised of five Directors of which three will be appointed by Appian (including the Chairman). The Technical and Financial Committee of PPML will follow a composition in line with the composition of the JV's Board of Directors, allowing Appian to use its deep technical expertise to bring the project into production. The Transaction follows extensive engagement with the Osisko Metals team and is a strong fit with Appian's investment strategy: Active board and committee representation will enable Appian to leverage its technical and strategic expertise to optimize the development of the Project Pine Point is expected to produce clean zinc and lead concentrates and will benefit from its strategic location in a tier-1 jurisdiction and access to international concentrate markets through existing, high-quality infrastructure, including Class I railway access Significant resource development upside and the ability to leverage returns through mine life extensions Previously operating mine with geological database of >18, 500 drill holes (>1 million meters) representing significant sunk cost Appian's third investment in the attractive zinc market complementing its world-class portfolio of highly prospective assets located in attractive operating jurisdictions Strengthens Appian's presence in Canada, where it has recently opened offices in Montreal and Vancouver, which remains one of the world's leading mining jurisdictions with rich mineral deposits and a robust regulatory environment About Appian Capital Advisory LLP Appian Capital Advisory LLP is the investment advisor to long-term value-focused private equity funds that invest solely in mining and mining-related companies. Appian is a leading investment advisor in the metals and mining industry, with global experience across South America, North America, Australia and Africa and a successful track record of supporting companies to achieve their development targets, with a global operating portfolio overseeing nearly 6, 300 employees. Appian has a global team of 65 experienced professionals with presences in London, New York, Toronto, Vancouver, Lima, Belo Horizonte, Montreal and Perth. For more information please visit www.appiancapitaladvisory.com, or find us on LinkedIn, Instagram or Twitter. "/>

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