Metals Royalty Co Inc.

The Company used the net proceeds of the Notes Offering and the Term Loan (i) to repay in full and discharge all indebtedness and other obligations under its existing secured debt facility in favor of American Life & Security Corp. (the “Existing Facility”), as previously described in the Company’s public filings, (ii) to fund a portion of the purchase price for the Additional Royalty, and (iii) for general corporate purposes of the Company and its subsidiaries. Upon such repayment, the Existing Facility was terminated and all liens securing the obligations thereunder were released.