The Toronto Stock Exchange reports that Uranium Royalty Corp. will be delisted at the close on July 28, 2026. According to the TSX, the company has entered into an arrangement agreement with certain affiliated entities of Orion Resource Partners (USA) LP and HRG Metals LP (together with the Orion sellers, the Sweetwater investors), a subsidiary of the Ontario Teachers' Pension Plan Board (OTTP), pursuant to which the Sweetwater investors agreed to contribute and sell their approximately 92-per-cent interest in certain entities holding trona royalty assets and landholdings in Wyoming, Utah and Colorado, U.S., to a newly formed parent company (New Uranium Royalty) and Uranium Royalty for aggregate consideration to the Sweetwater investors of approximately $1.14-billion (U.S.), payable in a combination of cash and shares of New Uranium Royalty. The transaction was effected by way of a plan of arrangement and resulted in the combination of Uranium Royalty and the Sweetwater investors' approximately 92-per-cent interest in the Sweetwater entities under New Uranium Royalty. Upon closing of the arrangement, Uranium Royalty became a wholly owned subsidiary of New Uranium Royalty.

Pursuant to the arrangement, shareholders of Uranium Royalty who are not eligible holders will receive, for each Uranium Royalty share held, one New Uranium Royalty share. Pursuant to the arrangement, shareholders who are eligible holders could, before the election deadline, elect to receive, in respect of all or a portion of their Uranium Royalty shares, for each Uranium Royalty share held, either: (i) one exchangeable share; or (ii) one New Uranium Royalty share. Eligible holders who did not make a valid election prior to the election deadline will receive one New Uranium Royalty share.

The TSX notes that no fractional New Uranium Royalty share or exchangeable share will be issued under the arrangement. Where the total number of New Uranium Royalty shares or exchangeable shares, as the case may be, to be issued to a shareholder as consideration under the arrangement would result in a fraction of a New Uranium Royalty or exchangeable share being issuable, the number of New Uranium Royalty shares or exchangeable shares, as the case may be, to be received by such shareholder will be rounded down to the nearest whole New Uranium Royalty share or exchangeable share, as applicable. No payment or other adjustment shall be made with respect to the fractional interest so disregarded.

To receive the consideration, shareholders must return the letter of transmittal and election form, together with Uranium Royalty share certificates, to Computershare Investor Services Inc. at its principal offices in Toronto. Registered shareholders that hold their Uranium Royalty shares in book-entry or other uncertificated form (including DRS advices) may deliver their Uranium Royalty shares to the depositary by noting their respective holder account numbers in the letter of transmittal and election form in accordance with the instructions in the letter of transmittal and election form.

The TSX has been advised that the new Uranium Royalty shares will be posted for trading on the Nasdaq Stock Market on or about July 28, 2026. For more information, see Uranium Royalty's management information circular dated June 19, 2026, and the TSX bulletin dated July 16, 2026.