Mr. Grant Moenting reports

BARNAT PIT UPDATE

OR Royalties Inc. has noted that its operating partner, Agnico Eagle Mines Ltd., has had a rock mass movement occur on July 1, 2026, along the north wall of the Barnat open pit at the Canadian Malartic complex in Quebec, Canada. There were no injuries, equipment damage or environmental impact as a result of the event. As a precautionary measure, Agnico Eagle has temporarily suspended mining operations in the Barnat open pit. Agnico Eagle's technical teams are conducting a detailed geotechnical assessment to confirm the stability of the affected area and determine the appropriate path forward. Planning activities are under way to support the safe and orderly resumption of operations in the Barnat pit.

Based on currently available information, Agnico Eagle expects the rock mass movement to reduce production in the second half of 2026 at Canadian Malartic by approximately 60,000 to 80,000 ounces of gold. The Barnat open pit was expected to be mined out by early 2029. While Agnico Eagle's geotechnical assessment remains in progress, the event is currently expected to result in reduced production in both 2027 and 2028 of up to approximately 150,000 ounces of gold per year. Agnico Eagle is continuing to evaluate opportunities to mitigate this potential impact to its production outlook.

Importantly, Agnico Eagle believes that the rock mass movement will not affect the development or production outlook for the Odyssey (underground) mine and does not change the pathway to achieving annual production of one million ounces of gold from the Canadian Malartic complex in the early 2030s.

OR Royalties holds a 5.0-per-cent net smelter return royalty on nearly all the mineral reserves contained within the Barnat pit at Canadian Malartic. Based on the information provided to date by its operating partner, OR Royalties' 2026 gold equivalent ounce delivery guidance range, as well as its five-year outlook, remains unchanged.

For more detailed information, please refer to Agnico Eagle's press release dated July 2, 2026, titled "Agnico Eagle Reports Wall Movement at Barnat Open Pit at Canadian Malartic."

Qualified person

The scientific and technical content of this news release has been reviewed and approved by Guy Desharnais, PhD, PGeo, vice-president, project evaluation, at OR Royalties, who is a qualified person as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

About OR Royalties Inc.

OR Royalties is a precious metal 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 200 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' Canadian Malartic complex, one of the world's largest gold mines.

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