Financial Data and Key Metrics Changes - In Q4 2025, the company reported a net loss of $40.4 million or $0.08 per share, compared to a net loss of $16.1 million or $0.04 per share in Q4 2024 [27] - Exploration and evaluation expenses increased to $10.6 million from $8.3 million in the same period last year, while general and administrative expenses rose significantly to $34.1 million from $8.1 million [27][28] - Free cash outflow for Q4 2025 was $11.5 million, a decrease from $13.8 million in Q4 2024, while the full year free cash outflow was $43.1 million compared to $44 million in 2024 [29][30] Business Line Data and Key Metrics Changes - The company is focusing on the development of a nodule processing and refining hub in Brownsville, Texas, which is expected to enhance operational efficiency and reduce costs [8][10] - A commercial agreement with Allseas for the development and operation of the Hidden Gem offshore system is in progress, targeting a nominal capacity of 3 million tons per annum [10][11] Market Data and Key Metrics Changes - The U.S. has emerged as a leading jurisdiction for seabed mineral development, with a regulatory framework that offers clarity and a credible path to commercialization [17][18] - The company has expanded its expected commercial recovery area from 25,000 sq km to approximately 65,000 sq km under the new NOAA consolidated application process [18][19] Company Strategy and Development Direction - The company aims to establish a domestic nodule processing hub to reduce dependency on foreign critical minerals, particularly from China [8][12] - A new strategic partnership with Mariana Minerals is expected to enhance project execution and metallurgical processing capabilities [13][14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the U.S. regulatory path and anticipates the grant of a commercial recovery permit within the next 12 months [20][21] - The company highlighted the importance of government support for the establishment of a U.S.-based processing plant, which includes financial and permitting assistance [63] Other Important Information - The Metals Royalty Company is set to begin trading on Nasdaq under the ticker TMCR, which could provide future capital options for the company [15][16] - The company reported a year-end 2025 cash balance of $117.6 million, with no imminent need to raise funds in public markets [25][26] Q&A Session Summary Question: Impact of the Brownsville hub on shipping expenses - Management indicated that processing nodules in Brownsville could be cheaper than in China or Indonesia due to lower energy costs, although specific numbers were not provided [40][41] Question: Key permits and timelines for infrastructure - The key permit is the commercial recovery permit from NOAA, which is essential for moving forward with plans for the processing facility [44][45] Question: Timing for feasibility study completion - The feasibility study is expected to be ready by the end of October, with Mariana Minerals playing a significant role in the process [48][49] Question: Plans for additional collector capacity for Hidden Gem - The company plans to commission the Hidden Gem with a two-collector model, targeting early 2028 for production [53][55] Question: Government support needed for processing plant - Management clarified that support includes financial, permitting, and collaboration with federal, state, and local agencies [63]

FORM F-1 TABLE OF CONTENTS REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 As filed with the Securities and Exchange Commission on March 13, 2026 Registration No. 333-293837 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Amendment No. 2 to 1040 The Metals Royalty Company Inc. (Exact name of registrant as specified in its charter) British Columbia, Canada (State or other jurisdiction of (Primary Standard Industrial Classification Code Number) 1900 Dome Tower 333 7 Ave SW th C ...

Washington, D.C. 20549 TABLE OF CONTENTS As filed with the Securities and Exchange Commission on March 11, 2026 Registration No. 333-293837 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Amendment No. 1 to FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 The Metals Royalty Company Inc. (Exact name of registrant as specified in its charter) 1040 (Primary Standard Industrial Classification Code Number) 1900 Dome Tower 333 7 Ave SW th Calgary, AB, T2P 2Z1 (403) 984-1941 (Address, including zi ...

TABLE OF CONTENTS As filed with the Securities and Exchange Commission on February 27, 2026 Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 The Metals Royalty Company Inc. (Exact name of registrant as specified in its charter) 1040 British Columbia, Canada (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) 1900 Dome Tower 333 7 Av ...