Select Asset Updates and C$43.9 Million of Recent Share Repurchases Under the Normal Course Issuer Bid

Core Insights - OR Royalties Inc. has reported positive developments across its portfolio, highlighting the upcoming production from Dalgaranga and advancements in other projects like Cascabel, Marimaca MOD, and Spring Valley [2][4] - The company believes that the current share price does not reflect the underlying value of its assets, prompting active share repurchases [4] - Significant exploration results from TDG Gold's AuWEST Project and Benz Mining's Glenburgh Gold Project indicate strong potential in advanced exploration assets [3] Dalgaranga (Operated by Ramelius Resources Ltd.) - Ramelius announced a Pre-Feasibility Study (PFS) for the Never Never deposit, which includes a processing plant upgrade to 5 million tonnes per annum, enhancing production and reducing costs [5] - The Maiden Probable Ore Reserve at Never Never is 7.0 million tonnes at 7.3 g/t Au, equating to 1.6 million ounces of gold [9] - OR Royalties holds a 1.44% gross revenue royalty on Dalgaranga [7] Cascabel (Operated by SolGold plc) - Jiangxi Copper Company Limited made a revised cash offer for SolGold at 28 pence per share, valuing the company at approximately £842 million ($1.1 billion) [8][10] - OR Royalties owns a 0.6% net smelter return (NSR) royalty on the Cascabel property and a 6% gold stream until 225,000 ounces of gold are delivered [11][12] Marimaca MOD (Operated by Marimaca Copper Corp.) - Marimaca received formal environmental approval (RCA) for its Marimaca Oxide Project, moving closer to construction readiness [15][16] - OR Royalties holds a 1% NSR royalty on Marimaca's MOD covering all known resources [17] Spring Valley (Operated by Solidus Resources, LLC) - Solidus announced a definitive Precious Metals Purchase Agreement with Wheaton Precious Metals, fully funding the Spring Valley project [18][19] - The feasibility study projects over 300,000 ounces of gold production per year for a mine life exceeding 10 years [20] - OR Royalties owns a 2.5% to 3.0% NSR royalty on the core of the Spring Valley deposit [21] Windfall (Operated by Gold Fields Ltd.) - Gold Fields updated the project timeline, with plant commissioning expected in the second half of 2028 and first gold production anticipated in the first half of 2029 [22][23] - OR Royalties holds a 2.0-3.0% NSR royalty on the Windfall project [25] Altar (Operated by Aldebaran Resources Inc.) - Aldebaran released a Preliminary Economic Assessment (PEA) for the Altar project, indicating a mine life of 48 years with significant copper and gold production [26][27] - OR Royalties owns a 1.0% NSR royalty on the majority of the Altar project [29] Shaakichiuwaanaan (Operated by PMET Resources Inc.) - PMET announced a lithium-only feasibility study for the Shaakichiuwaanaan property, confirming its potential as a top spodumene concentrate producer [30][32] - OR Royalties holds a sliding scale NSR royalty of 1.5-3.5% on precious metals and 2.0% on lithium at Shaakichiuwaanaan [35] AuWEST (Operated by TDG Gold Corp.) - TDG reported positive assay results from its exploratory drilling program at the Aurora West target, indicating strong mineralization [36][37] - OR Royalties owns a 1.0% NSR royalty on AuWEST and the broader GSN project [38] Glenburgh (Operated by Benz Mining Corp.) - Benz reported significant discoveries at the Glenburgh Gold Project, with high-grade mineralization confirmed in multiple lenses [39][40] - OR Royalties owns a 1.08% gross revenue royalty on Glenburgh [41]