Mr. Matt Donohue reports

FREEHOLD ROYALTIES LTD. DECLARES DIVIDEND FOR APRIL 2023

Freehold Royalties Ltd.'s board of directors has declared a dividend of nine cents per common share to be paid on May 15, 2023, to shareholders of record on April 28, 2023.

These dividends are designated as eligible dividends for Canadian income tax purposes.

Freehold's focus is on acquiring and managing oil and gas royalties. Freehold's common shares trade on the Toronto Stock Exchange in Canada under the symbol FRU.