OR Royalties Inc. (TSX:OR) (NYSE:OR) is pleased to announce its first quarter 2026 preliminary deliveries, revenues and cash margin, as well as to provide an update on its cash and debt positions as at March 31^st, 2026. All monetary amounts included in this report are expressed in United States dollars, unless otherwise noted.

PRELIMINARY Q1 2026 RESULTS

OR Royalties earned 22,740 attributable gold equivalent ounces¹ in the first quarter of 2026.

OR Royalties recorded preliminary revenues from royalties and streams of $102.8 million during the first quarter, a quarterly record, and preliminary cost of sales (excluding depletion) of $3.3 million, resulting in a quarterly cash margin² of approximately $99.5 million (96.8%).

As at March 31^st, 2026, OR Royalties’ cash position was approximately $94.9 million, after repurchases of common shares made under the normal course issuer bid of $12.9 million (C$17.7 million) during the first quarter, and also following the end-of-March closing of the additional Namdini 1.0% net smelter return royalty transaction, originally announced in January 2026, which was funded using available cash on the balance sheet.

Furthermore, in February 2026, OR Royalties International Ltd. (“ORI”), a wholly-owned subsidiary of the Company, was notified that SolGold plc and Jiangxi Copper Company Limited were exercising their option to buy back 50% of the Cascabel gold stream. As a result, ORI received 4,290 ounces of gold (subject to a transfer price of 20%) as a one-time payment for the 50% buyback of the Cascabel stream, representing a net va lue of approximately $17.5 million on the delivery date.

OR Royalties’ revolving credit facility of $650.0 million (plus the uncommitted accordion of $200.0 million) was undrawn as at the end of the first quarter. The recently announced transactions to acquire a portfolio of royalty assets from Gold Fields Limited, as well as a basket of royalties covering Spring Valley from Sailfish Royalty Corp., are both expected to close early in the second quarter of 2026.

Notes

The figures presented in this press release, including the cash and debt balances, and the revenues and costs of sales, have not been audited and are subject to change. As the Company has not yet finished its quarter end procedures, the anticipated financial information presented in this press release is preliminary, subject to quarter end adjustments, and may change materially.

Average Metal Prices 

(i)     The London Bullion Market Association’s pm price in U.S. dollars per ounce.
(ii)    The London Bullion Market Association’s price in U.S. dollars per ounce.
(iii)   The London Metal Exchange’s price in U.S. dollars per tonne.

About OR Royalties Inc.

OR Royalties is a precious metals royalty and streaming company focused on Tier-1 mining jurisdictions defined as Canada, the United States, and Australia. OR Royalties commenced activities in June 2014 with a single producing asset, and today holds a portfolio of over 195 royalties, streams and similar interests. OR Royalties’ portfolio is anchored by its cornerstone asset, the 3-5% net smelter return royalty on Agnico Eagle Mines Limited’s Canadian Malartic Complex, one of the world’s largest gold mines.