Empress Royalty Corp. (TSX-V: EMPR) (OTCQX: EMPYF) is pleased to announce its financial and operating results for the three and six months ended June 30, 2026, highlighting continued portfolio performance, disciplined execution, and strong year-over-year growth.

“Our first half 2026 results demonstrate the increasing scale and financial strength of Empress, with six month revenue increasing 166% to over US$17M and income from operations increasing 285% to US$10M,” stated Alexandra Woodyer Sherron, CEO and President of Empress Royalty. “We ended the quarter with US$21M in cash, gold and silver, providing significant flexibility to pursue new investment opportunities.  With growing cash flow from our existing portfolio, we remain focused on disciplined capital allocation, portfolio expansion and building sustainable long term value for our shareholders.”

Key Financial and Operating Highlights for the Six and Three Months Ended June 30, 2026:
(All figures are in U.S. dollars unless otherwise noted)

• Revenue Growth: Generated US$17.3M in revenue for the six months ended June 30, 2026, an increase of 166% from US$6.5M in the comparative 2025 period, including US$8.2M in second quarter revenue.
• Gross Profit Expansion: Achieved a six-month gross profit of US$12.8M (a 184% increase compared to US$4.5M in the first half of 2025), supported by US$6.0M delivered in Q2, underscoring high-margin performance across portfolio assets.
• Triple-Digit Operational Income: Generated US$10.0M in income from operations, a 285% increase from US$2.6M in the comparative 2025 period.
• Strengthening Financial Position: Total combined liquid reserves expanded to US$21.1M at June 30, 2026, driven by a US$1.9M six-month increase in cash to US$5.1M and a US$12.1M expansion in liquid metals holdings to US$16.0M.
• Profitable Net Earnings: Delivered six-month net income of US$3.9M in Q2 2026, compared with US$1.6M in the first half of 2025.  Results include a US$4.7M non-cash fair value remeasurement loss on metal holdings due to short-term gold and silver market price declines and US$1.0M in income taxes.

These strong results reflect the continued performance from the Company’s producing royalty and streaming portfolio and provide Empress with a strong financial foundation to pursue additional investment opportunities.

The financial statements and accompanying Management’s Discussion and Analysis (MD&A) have been filed on SEDAR+ (www.sedarplus.ca) and are also available on the Company’s website at www.empressroyalty.com.

Reaffirming Full-Year 2026 Guidance

Following the strong performance of the second quarter of 2026, Empress is reaffirming its annual financial and operating guidance for fiscal 2026, originally issued as part of its annual financial statement filing.  Management’s expectations remain unchanged and are based on the steady performance of its existing royalty and streaming portfolio, updated operator disclosures, and prevailing market conditions.
 

Key Guidance Metrics for Fiscal 2026

Empress continues to anticipate meaningful growth in its attributable production in 2026, supported by steady performance across portfolio holdings and potential optimization initiatives at key assets.  Guidance incorporates assumptions of stable or improving operator performance and no major disruptions, consistent with disclosure standards under NI 51-102 and, where applicable, National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) for technical information.

Attributable Gold Equivalent Ounces (GEOs)

As a royalty and streaming company focused on precious metals, the Company’s performance is inherently tied to production volumes and metal prices, which are volatile; accordingly, emphasis is placed on attributable gold equivalent ounces (“GEOs”) sales as a primary metric to reflect production exposure.

For streams, guidance reflects GEOs that have been delivered from the operators of our assets. Our GEO deliveries may differ from operators’ production based on the timing of deliveries and due to recovery and payability factors.  GEO sales may differ from GEO deliveries based on the timing of the sales. For royalties, GEO guidance reflects the timing of royalty payments or accruals.

• Reiterated 2026 GEO Outlook: Empress is maintaining its previously disclosed expectation for attributable GEOs to range between 7,045 and 7,430 ounces for fiscal 2026. As originally stated, this range represents the Company’s diversified exposure across gold and silver, calculated using conservative conversion ratios based on assumed commodity prices of US$4,000/oz gold and US$70/oz silver.  GEOs continue to be emphasized as the core metric, as they directly reflect the underlying production from operators and reduce dependency on volatile spot prices for performance evaluation.

Assumptions and Basis for Guidance

The reaffirmed 2026 Guidance is based on public and non-public forecasts, other disclosures by the owners and operators of our assets, internal analysis of historical performance, and management’s understanding of the underlying producing assets.  Additionally, the Company may receive information from the owners and operators of the properties which the Company is not permitted to disclose to the public pursuant to the underlying confidentiality agreements.
Key assumptions include:

• Annual increases in revenue if metals prices continue to be in the range of US$4,000/oz gold and US$70/oz silver, and/or operating improvements are made at the underlying assets, and/or additional assets are added to the stream and royalty portfolio;
• Production estimates reliant on operator guidance under NI 43-101-compliant reports and other non-public technical information, assuming no material production interruptions;
• No major new acquisitions or divestitures beyond those already announced, though the Company continues to actively evaluate pipeline opportunities; and
• Currency exchange rates and tax considerations remaining consistent with current levels.

Sensitivity

The success of the Company in the second quarter of 2026 was based on a concentrated number of investments and a significant increasing trend in gold and silver prices.  There is no guarantee that this trend will continue through the remainder of 2026.  Given the volatile nature of gold and silver markets, an increase or decrease in gold or silver prices could impact attributable GEO values and related revenue considerably.

Risks and Uncertainties

Achievement of this guidance is subject to various risks, including but not limited to commodity price volatility (a primary concern given the small number of investments), operator-specific challenges (e.g., production delays), geopolitical factors, and environmental considerations.  These could result in actual GEOs and revenues varying from the provided guidance, potentially materially. Investors should refer to the cautionary statements contained at the end of this news release, and the full discussion of risks in the Company’s 2025 Annual Information Form (AIF) filed on www.sedarplus.ca.

Conclusion and Updates

Empress continues to successfully execute its strategy of building a diversified, cash-flowing portfolio to deliver sustainable value to shareholders.  The Company expects to review and update this outlook quarterly, or as material events occur, including new investments, significant operator updates, or changes in the commodity markets.  Management remains focused on disciplined growth, strategic capital allocation and the continued expansion of its royalty and streaming portfolio.

ABOUT EMPRESS ROYALTY CORP.

Empress is a global royalty and streaming creation company providing investors with a diversified portfolio of gold and silver investments.  Empress has built a portfolio of precious metal investments and is actively investing in mining companies that require additional non-dilutive capital.  The Company has a strategic partnership with Endeavour Financial, which allows Empress to access global investment opportunities while benefiting from mining finance expertise and deal structuring.  Empress is focused on continuously creating long-term shareholder value through the proven royalty and streaming business model.