Mr. Grant Moenting reports

OR ROYALTIES ANNOUNCES PRELIMINARY Q3 2025 GEO DELIVERIES ALONG WITH RECORD QUARTERLY REVENUES

OR Royalties Inc. has provided an update on its third quarter 2025 preliminary deliveries, revenues and cash margin as well as on its cash and debt positions as at Sept. 30, 2025. All monetary amounts included in this report are expressed in U.S. dollars, unless otherwise noted.

Preliminary Q3 2025 results:

• OR Royalties earned 20,326 attributable gold equivalent ounces (GEOs) in the third quarter of 2025.
• OR Royalties recorded preliminary revenues from royalties and streams of $71.6-million during the third quarter, a quarterly record, and preliminary cost of sales (excluding depletion) of $2.4-million, resulting in a quarterly cash margin of approximately $69.3-million (96.7 per cent).
• As at Sept. 30, 2025, OR Royalties' cash position was approximately $57-million, following repayment of the outstanding balance on the company's revolving credit facility ($35.4-million) during the third quarter. Therefore, OR Royalties' revolving credit facility of $650-million (plus the uncommitted accordion of $200-million) was entirely undrawn as at the end of the third quarter.

Q3 2025 results conference and webcast call details

Results release:  Wednesday, Nov. 5, 2025, after market close

Conference call:  Thursday, Nov. 6, 2025, at 10 a.m. ET

Dial-in numbers

North American toll-free:   1-800-717-1738

Local -- Montreal:  1-514-400-3792

Local -- Toronto:  1-289-514-5100

Local -- New York:  1-646-307-1865

Conference ID:   08442

Replay (available until Saturday, Dec. 6, 2025, at 11:59 p.m. ET)

North American toll-free:  1-888-660-6264

Local -- Toronto:  1-289-819-1325

Local -- New York:  1-646-517-3975

Playback passcode:  08442 followed by the number sign

The replay is also available on the OR Royalties website.

OR Royalties analyst and investor day 2025 details

In person:   Monday, Nov. 10, 2025, at 1 p.m. ET, Vantage Venues, 150 King St. W, 16th floor, Toronto, Ont.

Live webcast:  Monday, Nov. 10, 2025, at 1 p.m. ET

Please RSVP to gmoenting@orroyalties.com as the live webcast details will be provided to interested parties closer to the event. A recording of the webcast will also be made available on the OR Royalties website shortly after the event.

Notes

The figures presented in this press release, including the cash and debt balances and the revenues and costs of sales, have not been audited and are subject to change. As the company has not yet finished its quarter-end procedures, the anticipated financial information presented in this press release is preliminary, subject to quarter-end adjustments, and may change materially.

About OR Royalties Inc.

OR Royalties is a precious metals royalty and streaming company focused on Tier 1 mining jurisdictions defined as Canada, the United States and Australia. OR Royalties commenced activities in June, 2014, with a single producing asset and today holds a portfolio of over 195 royalties, streams and similar interests. OR Royalties' portfolio is anchored by its cornerstone asset, the 3-to-5-per-cent net smelter return royalty on Agnico Eagle Mines Ltd.'s Canadian Malartic complex, one of the world's largest gold mines.

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