Mr. Kyle Floyd reports

VOX ANNOUNCES RECORD 2023 FINANCIAL RESULTS

Vox Royalty Corp. has released its operating and financial results for the fourth quarter and year ended Dec. 31, 2023. All amounts are in U.S. dollars unless otherwise indicated.

Full Year 2023 Highlights

• Record annual revenue of $12,310,594, up ~45% from $8,508,105 in 2022.
• Record annual gross profit of $9,978,660, up ~50% from $6,664,087 in 2022.
• Record annual cash flows from operations of $5,271,090, up ~157% from $2,047,169 in 2022.
• Strong balance sheet position at year end includes: (i) cash and accounts receivable of $12,850,451; (ii) working capital of $10,378,752; and (iii) total assets of $52,706,609.

Fourth Quarter 2023 Highlights

• Q4 2023 revenue of $2,997,426, up ~42% from $2,104,758 in Q4 2022.
• Q4 2023 gross profit of $2,072,497, up ~30% from $1,591,909 in Q4 2022.
• Generated record cash flows from operations of $2,341,781, up ~38% from $1,695,717 in Q4 2022.

Subsequent to the end of the Quarter

• On January 16, 2024, the Company entered into a definitive credit agreement with the Bank of Montreal providing for a $15 million secured revolving credit facility (the "Facility"). The Facility includes an accordion feature which provides for an additional $10 million of availability subject to certain conditions.

Kyle Floyd, Chief Executive Officer, stated "We are pleased to announce our fourth quarter and annual results, realizing record annual revenue, gross profit, and cash flow from operations. We recognised approximately 45% annual revenue growth, which exceeded the midpoint of 2023 revenue guidance, and achieved approximately 157% growth in annual cash flows from operations. These strong financial results were in addition to delivering major strategic milestones during the year, such as graduation to the TSX, accretive royalty acquisitions in Australia, and an innovative IP licensing agreement. The Company is also pleased to announce that it has increased its quarterly dividend for shareholders by 9.1%, primarily due to strong growth in cash flows from operations. As we look ahead to 2024 and beyond, we remain highly focused on accelerating our business and continuing to deliver exceptional shareholder value."

For complete details, please refer to the consolidated financial statements and associated Management Discussion and Analysis for the years ended December 31, 2023, available on SEDAR+, EDGAR or on Vox's website.

Quarterly Dividend Increase

The Company is also pleased to announce that its Board of Directors has raised its quarterly dividend and declared a quarterly dividend of $0.012 per common share, to be paid on April 12, 2024, to shareholders of record as of the close of business on March 29, 2024. This is a 9.1% increase from the previous $0.011 per common share quarterly dividend and marks the second consecutive annual increase for Vox shareholders.

For shareholders residing in Canada, the dividend will be paid in Canadian dollars based on the daily exchange rate published by the Bank of Canada on March 28, 2024. The dividend qualifies as an "eligible dividend" as defined in the Income Tax Act (Canada). The dividend is subject to customary Canadian withholding tax for shareholders that are not resident in Canada.

Outlook

The operational performance of the Company's portfolio during 2023 was generally in line with our expectations. On April 27, 2023, Vox estimated that 2023 royalty revenue guidance would be in the range of $11 million to $13 million. For the year ended December 31, 2023, Vox's royalty revenue exceeded the midpoint of the range, totalling $12,310,594.

For 2024, Vox estimates royalty revenue to total $11 million to $13 million. Our 2024 outlook on royalty revenue is based on publicly available information of the owners or operators of projects on which we have a royalty interest and which we believe to be reliable. When publicly available forecasts on properties are not available, we obtain internal forecasts from the owners or operators, if available, or use our own management estimation.

About Vox

Vox is a returns focused mining royalty company with a portfolio of over 60 royalties spanning seven jurisdictions. The Company was established in 2014 and has since built unique intellectual property, a technically focused transactional team and a global sourcing network which has allowed Vox to target the highest returns on royalty acquisitions in the mining royalty sector. Since the beginning of 2020, Vox has announced over 25 separate transactions to acquire over 60 royalties.

We seek Safe Harbor.