Mr. Matt Donohue reports

FREEHOLD ROYALTIES LTD. ANNOUNCES RESULTS FROM ANNUAL MEETING OF SHAREHOLDERS

All nominees listed in Freehold Royalties Ltd.'s notice of meeting and information circular dated March 22, 2023, were elected as directors of Freehold at its annual meeting of shareholders held today. In addition, all other matters considered at the meeting were approved by Freehold's shareholders.

The results of the votes on the director nominees are as shown in the attached table.

KPMG LLP was appointed as the auditor of Freehold, with 93.79 per cent of the shares represented at the meeting voting in favour of their appointment. The resolution to accept Freehold's approach to executive compensation was approved with 96.55 per cent of the shares represented at the meeting voting in favour of the resolution. 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.