Mr. Grant Moenting reports

OR ROYALTIES ANNOUNCES PRELIMINARY Q1 2026 GEO DELIVERIES AND C$17.7 MILLION OF SHARE REPURCHASES UNDER THE NORMAL COURSE ISSUER BID

OR Royalties Inc. has released its first quarter 2026 preliminary deliveries, revenues and cash margin as well as provided an update on its cash and debt positions as at March 31, 2026. All monetary amounts included in this report are expressed in U.S. dollars, unless otherwise noted.

Preliminary Q1 2026 results:

• OR Royalties earned 22,740 attributable gold equivalent ounces (GEOs) in the first quarter of 2026.
• OR Royalties recorded preliminary revenues from royalties and streams of $102.8-million during the first quarter, a quarterly record, and preliminary cost of sales (excluding depletion) of $3.3-million, resulting in a quarterly cash margin of approximately $99.5-million (96.8 per cent).
• As at March 31, 2026, OR Royalties' cash position was approximately $94.9-million, after repurchases of common shares made under the normal course issuer bid of $12.9-million ($17.7-million (Canadian)) during the first quarter and also following the end-of-March closing of the additional Namdini 1.0-per-cent net smelter return royalty transaction, originally announced in January, 2026, which was financed using available cash on the balance sheet.

Furthermore, in February, 2026, OR Royalties International Ltd. (ORI), a wholly owned subsidiary of the company, was notified that Solgold PLC and Jiangxi Copper Company Ltd. were exercising their option to buy back 50 per cent of the Cascabel gold stream. As a result, ORI received 4,290 ounces of gold (subject to a transfer price of 20 per cent) as a one-time payment for the 50-per-cent buyback of the Cascabel stream, representing a net value of approximately $17.5-million on the delivery date.

OR Royalties' revolving credit facility of $650-million (plus the uncommitted accordion of $200-million) was undrawn as at the end of the first quarter. The recently announced transactions to acquire a portfolio of royalty assets from Gold Fields Ltd. as well as a basket of royalties covering Spring Valley from Sailfish Royalty Corp. are both expected to close early in the second quarter of 2026.

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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