Elemental Royalty Corp

Key Strategic Developments

2025 was a transformative year for Elemental, defined by strategic initiatives that strengthened the Company's scale, diversification, and long-term growth profile. Key developments during the year included:

• Completion of the merger with EMX, creating a larger, combined royalty company with a materially expanded revenue base and enhanced capital markets presence.

• Secured a strategic investment from Tether Investments S.A. de C.V ("Tether"), strengthening the share register, enhancing financial flexibility, and supporting the Company's growth initiatives.

• Acquired the uncapped 2% GRR royalty over the Laverton Gold Project in Western Australia for US$52 million, which is expected to become a cornerstone asset within the portfolio given its scale, development trajectory, and long-term upside.

• Benefited from continued advancement and optimization across producing assets within the portfolio, supporting stable cash flow generation and near-term growth visibility.

• Announced after year end, the Company advanced its capital allocation framework and financial capacity through the introduction of an inaugural annual dividend of US$0.12 per share (paid quarterly) and the establishment of a US$150 million revolving credit facility and US$50 million accordion feature, enhancing balance sheet flexibility to support future growth initiatives while delivering sustainable returns to shareholders.

2025 Annual Earnings ReleaseExpressed in U.S. Dollars