OR Royalties Reports 62% Year-Over-Year Increase in Revenues and Cash Flows from Operations in Q2 2026 and Continued Share Repurchases Under the Normal Course Issuer Bid

MONTRÉAL, Aug. 05, 2026 (GLOBE NEWSWIRE) -- OR Royalties Inc. ("OR Royalties" or the "Company") (OR: TSX & NYSE) today announced its consolidated financial results for the second quarter of 2026. Quarterly revenues grew 62% year-over-year on a 5% increase in gold equivalent ounces earned, due in part to contributions from recently acquired assets. With 96.8% of revenues converting to cash margin, this growth in revenues and cash flows reflects the peer-leading leverage of the Company's royalty and streaming model to higher precious metals prices. Amounts presented are in United States dollars unless otherwise noted. Financial Highlights Revenues from royalties and streams of $97.8 million ($60.4 million in Q2 20251); Cash flows generated by operating activities of $83.2 million ($51.4 million in Q2 2025); Cash margin2 of $94.7 million or 96.8% ($57.8 million or 95.8% in Q2 2025); Net earnings of $61.4 million, $0.33 per basic share ($32.4 million, $0.17 per basic share in Q2 2025); Adjusted earnings2 of $60.5 million, $0.32 per basic share ($34.1 million, $0.18 per basic share in Q2 2025); 20,757 gold equivalent ounces (“GEOs3”) earned (19,700 GEOs in Q2 2025); GEO deliveries were modestly lower than the first quarter, primarily reflecting an unscheduled six-day mill shutdown at Canadian Malartic as well as planned mine sequencing at Mantos Blancos, partially offset by initial GEO contributions from newer assets in the portfolio; Cash balance of $75.6 million and debt outstanding of $215.0 million as at June 30, 2026, for a net debt position2 of $139.4 million; Purchase for cancellation, under the normal course issuer bid, of a total of 225,712 common shares for $8.0 million (C$11.2 million); and, Declaration of a quarterly dividend of $0.065 per common share paid on July 15, 2026 to shareholders of record as of the close of business on June 30, 2026, an increase of 18.2% compared to the previous quarterly dividend. Portfolio Growth During the quarter, OR Royalties closed $335.0 million of previously announced acquisitions: Terraco Gold Corp., holder of net smelter return (“NSR”) royalties covering Solidus Resources LLC's Spring Valley Gold Project in Nevada ($168.0 million); a portfolio of eight royalties acquired from Gold Fields Limited (“Gold Fields”) anchored by a 1.5% NSR on Compañia de Minas Buenaventura S.A.A.’s producing San Gabriel gold-silver mine in Peru ($115.0 million); and finally, as part of the same transaction with Gold Fields, deferred payment obligations from Galiano Gold Inc. ($52.0 million for $60.0 million of scheduled payments). Royalty, stream and other interests grew to $1.48 billion as at June 30, 2026 from $1.14 billion at year-end 2025. Subsequent to quarter-end, the Company closed the $28.0 million Murray Brook precious metals stream (with a C$5.5 million equity subscription) with Canadian Copper Inc., and entered into a binding agreement with Hot Chili Limited (“Hot Chili”) pursuant to which Hot Chili agreed to extend the Company’s NSR royalties to cover the La Verde project at Costa Fuego in consideration for cash payment of $15.0 million. Subsequent to June 30, 2026 Closing of the previously announced $28.0 million precious metals stream with Canadian Copper Inc. (“Canadian Copper”) with respect to its New Brunswick assets, comprising the Murray Brook properties and the Caribou property, including the Caribou Processing Plant, concurrently with a $3.9 million (C$5.5 million) equity subscription in Canadian Copper; Binding agreement with Hot Chili pursuant to which Hot Chili agreed to extend the Company’s royalties (1.0% of payable copper production and 3.0% of payable gold production) to the La Verde project, which is part of the broader Costa Fuego copper-gold project, in consideration for cash payment of $15.0 million payable on closing, which is expected to occur in the third quarter of 2026; Following Agnico Eagle Mines Limited’s July 2, 2026 disclosure regarding the Barnat open pit at Canadian Malartic, the Company increased the pace of repurchases under its normal course issuer bid, acquiring 1,007,496 common shares for $29.1 million (C$40.8 million) in July — more than four times the number of shares repurchased during the entire second quarter — bringing total 2026 repurchases to 1,555,678 shares; Increase in the amount available under the revolving credit facility from $650.0 million to $850.0 million and the additional uncommitted accordion from $200.0 million to $350.0 million, as well as extension of the maturity date from May 30, 2029 to August 4, 2030; and, Declaration of a quarterly dividend of $0.065 per common share payable on October 15, 2026 to shareholders of record as of the close of business on September 30, 2026. Management Commentary Jason Attew, President & CEO of OR Royalties commented: “Revenues and operating cash flows each grew 62% year-over-year — the arithmetic of a 96.8% cash margin business in a stronger precious metals market — and we remain on track for our 2026 guidance of 80,000 to 90,000 GEOs. We also closed $335.0 million of acquisitions in the quarter, including NSR royalties on San Gabriel, already producing and paying, and Spring Valley, amongst others. When our shares sold off following Agnico Eagle's July 2 disclosure on the Barnat pit, we bought back over one million shares in early July, more than four times the number of shares repurchased in the entire second quarter, and at meaningfully lower prices. Along these lines, our conviction in Canadian Malartic remains unchanged. And this is what shareholders should expect from us: cash generation strong enough to fund a growing dividend, execute on buybacks when the market misprices our shares, and invest in a still-robust pipeline of new opportunities, all at once.” Q2 2026 RESULTS CONFERENCE AND WEBCAST CALL DETAILS Conference Call: Thursday, August 6, 2026 at 10:00 am ET     Dial-in Numbers: (Option 1) North American Toll-Free: 1 (800) 717-1738 Local – Montreal: 1 (514) 400-3792 Local – Toronto: 1 (289) 514-5100 Local – New York: 1 (646) 307-1865 Conference ID: 25235     Webcast link: (Option 2) https://viavid.webcasts.com/starthere.jsp?ei=1767963&tp_key=5d45fdb7bc     Replay (available until Sunday, September 6, 2026 at 11:59 PM ET): North American Toll-Free: 1 (888) 660-6264 Local – Toronto: 1 (289) 819-1325 Local – New York: 1 (646) 517-3975 Playback Passcode: 25235#       Replay also available on our website at www.ORroyalties.com Qualified Person The scientific and technical content of this news release has been reviewed and approved by Guy Desharnais, Ph.D., P.Geo., Vice President, Project Evaluation at OR Royalties Inc., who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). 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 200 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. OR Royalties’ head office is located at 1100 Avenue des Canadiens-de-Montréal, Suite 300, Montréal, Québec, H3B 2S2. For further information, please contact OR Royalties Inc.: Grant Moenting Vice President, Capital Markets Cell: (365) 275-1954 Email: [email protected] Heather Taylor Vice President, Sustainability and Communications Tel: (647) 477-2087 Email: [email protected]   Notes: Average Metal Prices   Three months ended June 30       2026   2025           Gold (i) $4,506 $3,280   Silver (ii) $73.15 $33.68   Copper (iii) $13,329 $9,524   (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. (1) Three months ended June 30, 2025 (“Q2 2025”). (2) Non-IFRS Measures Cash Margin (in dollars and in percentage of revenues) Cash margin in dollars and in percentage of revenues are non-IFRS financial measures. Cash margin (in dollars) is defined by OR Royalties as revenues less cost of sales (excluding depletion). Cash margin (in percentage of revenues) is obtained by dividing the cash margin (in dollars) by the revenues. Management uses cash margin in dollars and in percentage of revenues to evaluate OR Royalties’ ability to generate positive cash flow from its royalty, stream and other interests. Management and certain investors also use this information, together with measures determined in accordance with IFRS Accounting Standards such as gross profit and operating cash flows, to evaluate OR Royalties’ performance relative to peers in the mining industry who present these measures on a similar basis. Cash margin in dollars and in percentage of revenues are only intended to provide additional information to investors and analysts and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS Accounting Standards. They do not have any standardized meaning under IFRS Accounting Standards and may not be comparable to similar measures presented by other issuers. A reconciliation of the cash margin (in thousands of dollars and in percentage of revenues) is presented below:     Three months ended June 30,   Six months ended June 30,     2026     2025     2026     2025       $   $   $     $                     Royalty interests                 Revenues 62,779     42,185     125,176     78,975     Less: cost of sales (excluding depletion) (403 )   (171 )   (729 )   (316 )   Cash margin (in dollars) 62,376     42,014     124,447     78,659                       Depletion (7,207 )   (3,408 )   (13,427 )   (6,118 )   Gross profit 55,169     38,606     111,020     72,541                       Stream interests                 Revenues 35,041     18,179     75,476     36,305     Less: cost of sales (excluding depletion) (2,688 )   (2,389 )   (5,703 )   (3,863 )   Cash margin (in dollars) 32,353     15,790     69,773     32,442                       Depletion (5,305 )   (4,205 )   (9,736 )   (9,239 )   Gross profit 27,048     11,585     60,037     23,203                       Royalty and stream interests Total cash margin (in dollars) 94,729     57,804     194,220     111,101     Divided by: total revenues 97,820     60,364     200,652     115,280     Cash margin (in percentage of revenues) 96.8%     95.8%     96.8%     96.4%                       Total – Gross profit 82,217     50,191     171,057     95,744   Adjusted earnings and adjusted earnings per basic share Adjusted earnings and adjusted earnings per basic share are non-IFRS financial measures and are defined by OR Royalties by excluding the following items from net earnings (loss) and net earnings (loss) per share: foreign exchange gains (losses), impairment charges and reversals related to royalty, stream and other interests, changes in allowance for expected credit losses, write-offs and impairments of investments, gains (losses) on disposal of royalty, stream and other interests (excluding gains (losses) on buy-down and buy-back of royalty, stream and other interests), gains (losses) on investments, share of income (loss) of associates, transaction costs and certain other items such as non-cash gains (losses), as well as the impact of income taxes on these items. Adjusted earnings per basic share is obtained from the adjusted earnings divided by the weighted average number of common shares outstanding for the period. Management uses adjusted earnings and adjusted earnings per basic share to evaluate the underlying operating performance of OR Royalties as a whole for the reporting periods presented, to assist with the planning and forecasting of future operating results, and to supplement information in its consolidated financial statements. Management believes that in addition to measures prepared in accordance with IFRS Accounting Standards such as net earnings (loss) and net earnings (loss) per basic share, investors and analysts use adjusted earnings and adjusted earnings per basic share to evaluate the results of the underlying business of OR Royalties, particularly since the excluded items are typically not included in OR Royalties’ annual guidance. While the adjustments to net earnings (loss) and net earnings (loss) per basic share in these measures include items that are both recurring and non-recurring, management believes that adjusted earnings and adjusted net earnings per basic share are useful measures of OR Royalties’ performance because they adjust for items which may not relate to or have a disproportionate effect on the period in which they are recognized, impact the comparability of the core operating results from period to period, are not always reflective of the underlying operating performance of the business and/or are not necessarily indicative of future operating results. Adjusted net earnings and adjusted net earnings per basic share are intended to provide additional information to investors and analysts and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS Accounting Standards. They do not have any standardized meaning under IFRS Accounting Standards and may not be comparable to similar measures presented by other issuers. A reconciliation of net earnings to adjusted net earnings is presented below:     Three months ended June 30, Six months ended June 30,       2026   2025   2026   2025   (in thousands of dollars, except per share amounts)     $ $ $ $               Net earnings     61,392   32,358   134,974   57,998                 Adjustments:             Foreign exchange loss (gain)     3,996   (665 ) 3,356   (825 ) Share of loss of associates     -   2,113   -   5,865   Net (gain) loss on investments   (4,739 ) 24   (2,843 ) 310   Tax impact of adjustments   (148 ) 305   37   264                 Adjusted earnings     60,501   34,135   135,524   63,612                 Weighted average number of                     common shares outstanding (000’s)     187,714   187,746   187,328   187,362                 Adjusted earnings per basic share     0.32   0.18   0.72   0.34   Net cash/(net debt) position (in dollars) Net cash/(net debt) position is a non-IFRS financial measure and is defined by OR Royalties by the cash balance minus the long-term debt balance at the end of a period. Management uses the net cash/(net debt) position to evaluate OR Royalties’ current net liquidity position (i.e. total cash less total long-term debt). Management and certain investors also use this information, together with measures determined in accordance with IFRS Accounting Standards such as operating cash flows and undrawn balances available under credit facilities, to evaluate OR Royalties’ investment capacity. Net cash/(net debt) position is only intended to provide additional information to investors and analysts and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS Accounting Standards. It does not have any standardized meaning under IFRS Accounting Standards and may not be comparable to similar measures presented by other issuers. A reconciliation of the net cash/(net debt) position is presented below:   June 30,  2026  December 31,  2025  (in thousands of dollars) $  $        Cash 75,605    142,131  Long-term debt (215,000 ) -        Net (debt)/cash position (139,395 ) 142,131  (3) Gold Equivalent Ounces GEOs are calculated on a quarterly basis and include royalties and streams. Silver ounces and copper tonnes earned from royalty and stream agreements are converted to gold equivalent ounces by multiplying the silver ounces or copper tonnes earned by the average silver price per ounce or copper price per tonne for the period and dividing by the average gold price per ounce for the period. Cash royalties and other metals and commodities are converted into gold equivalent ounces by dividing the associated revenue earned by the average gold price for the period. Forward-Looking Statements Certain statements contained in this press release may be deemed “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995, as amended, and “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking statements are statements other than statements of historical fact, that address, without limitation, future events, that conditions for the closing of the transaction with Hot Chili will be met in a timely manner, that the 2026 guidance on GEOs will be achieved and the ability of the Company to continue to invest in a pipeline of new opportunities. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential”, “scheduled” and similar expressions or variations (including negative variations), or that events or conditions “will”, “would”, “may”, “could” or “should” occur. All statements in this press release, other than statements of historical fact, are forward-looking statements, including statements that address, without limitation: future events, the closing of the recently announced transaction with Hot Chili.Forward-looking statements are subject to known and unknown risks, uncertainties and other factors, most of which are beyond the control of OR Royalties, and actual results may accordingly differ materially from those in forward-looking statements. Such risk factors include, without limitation, (i) with respect to properties in which OR Royalties holds a royalty, stream or other interest; risks related to: (a) the operators of the properties, (b) timely development, permitting, construction, commencement of production, ramp-up (including operating and technical challenges), (c) differences in rate and timing of production from Mineral Resource Estimates or production forecasts by operators, (d) differences in conversion rate from Mineral Resources to Mineral Reserves and ability to replace Mineral Resources, (e) the unfavorable outcome of any challenges or litigation relating to title, permit or license, (f) hazards and uncertainty associated with the business of exploring, development and mining including, but not limited to unusual or unexpected geological and metallurgical conditions, slope failures or cave-ins, flooding and other natural disasters or civil unrest or other uninsured risks, (ii) with respect to other external factors: (a) fluctuations in the prices of the commodities that drive royalties, streams, offtakes and investments held by OR Royalties, (b) a trade war or new tariff barriers, (c) fluctuations in the value of the Canadian dollar relative to the U.S. dollar, (d) regulatory changes by national and local governments, including permitting and licensing regimes and taxation policies, regulations and political or economic developments in any of the countries where properties in which OR Royalties holds a royalty, stream or other interest are located or through which they are held, (e) continued availability of capital and financing and general economic, market or business conditions, (f) responses of relevant governments to infectious diseases outbreaks and the effectiveness of such response and the potential impact of such outbreaks on OR Royalties’ business, operations and financial condition, and (g) geopolitical uncertainties; (iii) with respect to internal factors: (a) business opportunities that may or may not become available to, or are pursued by OR Royalties, (b) the integration of acquired assets, (c) the determination of OR Royalties’ PFIC status or (d) that preliminary financial information may be subject to quarter-end and year-end adjustments. The forward-looking statements contained in this press release are based upon assumptions management believes to be reasonable, including, without limitation: the absence of significant change in OR Royalties’ ongoing income and assets relating to determination of its PFIC status, and the absence of any other factors that could cause actions, events or results to differ from those anticipated, estimated or intended and, with respect to properties in which OR Royalties holds a royalty, stream or other interest, (i) the ongoing operation of the properties by the owners or operators of such properties in a manner consistent with past practice and with public disclosure (including forecast of production), (ii) the accuracy of public statements and disclosures made by the owners or operators of such underlying properties (including expectations for the development of underlying properties that are not yet in production), (iii) no adverse development in respect of any significant property, (iv) that statements and estimates relating to mineral reserves and resources by owners and operators are accurate and (v) the implementation of an adequate plan for integration of acquired assets. For additional information on risks, uncertainties and assumptions, please refer to the most recent Annual Information Form of OR Royalties filed on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov which also provides additional general assumptions in connection with these statements. OR Royalties cautions that the foregoing list of risks and uncertainties is not exhaustive. Investors and others should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. OR Royalties believes that the assumptions reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be accurate as actual results and prospective events could materially differ from those anticipated in such forward-looking statements, and such forward-looking statements included in this press release are not a guarantee of future performance and should not be unduly relied upon. These statements speak only as of the date of this press release. OR Royalties undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by applicable law. OR Royalties Inc. Consolidated Balance Sheets As at June 30, 2026 and December 31, 2025  (Unaudited) (tabular amounts expressed in thousands of U.S. dollars)       June 30, December 31,       2026     2025         $   $             Assets                       Current assets                       Cash     75,605     142,131   Amounts receivable     2,957     3,227   Deferred consideration receivable     30,000     -   Other assets     2,300     2,326         110,862     147,684               Non-current assets                       Investments     179,038     189,260   Royalty, stream and other interests     1,479,303     1,140,026   Goodwill     78,254     81,134   Other assets     8,371     8,375         1,855,828     1,566,479               Liabilities                       Current liabilities                       Accounts payable and accrued liabilities     24,837     7,477   Dividends payable     12,174     10,293   Income tax liabilities     10,374     13,655   Lease liabilities     1,211     1,207         48,596     32,632               Non-current liabilities                       Lease liabilities     3,066     3,795   Long-term debt     215,000     -   Deferred income taxes     105,258     98,011         371,920     134,438               Equity                       Share capital     1,694,146     1,688,122   Contributed surplus     59,856     65,873   Accumulated other comprehensive loss     (115,172 )   (51,780 ) Deficit     (154,922 )   (270,174 )       1,483,908     1,432,041         1,855,828     1,566,479   OR Royalties Inc. Consolidated Statements of Income For the three and six months ended June 30, 2026 and 2025 (Unaudited) (tabular amounts expressed in thousands of U.S. dollars, except per share amounts)       Three months ended June 30,   Six months ended June 30,       2026     2025     2026     2025         $   $   $   $                     Revenues     97,820     60,364     200,652     115,280                       Cost of sales     (3,091 )   (2,560 )   (6,432 )   (4,179 ) Depletion     (12,512 )   (7,613 )   (23,163 )   (15,357 ) Gross profit     82,217     50,191     171,057     95,744                       Other operating expenses                   General and administrative     (4,929 )   (5,938 )   (10,969 )   (10,897 ) Business development     (1,970 )   (2,826 )   (4,524 )   (4,905 ) Gain on the buy-down of a stream interest     -     -     7,161     -   Gain on sale of gold bullion     -     -     419     -   Operating income     75,318     41,427     163,144     79,942   Interest income     1,589     618     3,445     1,216   Finance costs     (3,215 )   (1,124 )   (3,977 )   (2,854 ) Foreign exchange (loss) gain     (3,996 )   665     (3,356 )   825   Share of loss of associates     -     (2,113 )   -     (5,865 ) Other gains (losses), net     4,739     (24 )   2,843     (310 ) Earnings before income taxes     74,435     39,449     162,099     72,954   Income tax expense     (13,043 )   (7,091 )   (27,125 )   (14,956 ) Net earnings     61,392     32,358     134,974     57,998                                           Net earnings per share                   Basic and diluted     0.33     0.17     0.72     0.31   OR Royalties Inc. Consolidated Statements of Cash Flows For the three and six months ended June 30, 2026 and 2025 (Unaudited) (tabular amounts expressed in thousands of U.S. dollars)       Three months ended June 30,   Six months ended June 30,               2026     2025     2026     2025         $   $   $   $                     Operating activities                   Net earnings     61,392     32,358     134,974     57,998   Adjustments for:                   Share-based compensation     1,896     2,171     3,683     4,260   Depletion and amortization     12,849     7,909     23,838     15,941   Gain on the buy-down of a stream interest     -     -     (7,161 )   -   Gain on sale of gold bullion     -     -     (419 )   -   Share of loss of associates     -     2,113     -     5,865   Gain on shares received under an anti-dilution provision     -     -     (794 )   -   Change in fair value of financial assets at fair value through                           profit and loss     (4,757 )   24     (2,067 )   310   Foreign exchange loss (gain)     4,198     (787 )   3,301     (879 ) Deferred income tax expense     2,988     1,065     6,078     8,307   Other     (538 )   166     (1,076 )   270   Net cash flows provided by operating activities                         before changes in non-cash working capital items   78,028     45,019     160,357     92,072   Changes in non-cash working capital items     5,141     6,356     (5,325 )   5,382   Net cash flows provided by operating activities   83,169     51,375     155,032     97,454                       Investing activities                   Acquisitions of deferred payment obligations     (52,000 )   -     (52,000 )   -   Acquisitions of investments     -     (995 )   (10,000 )   (12,359 ) Proceeds on disposal of investments     34,748     -     34,748     -   Acquisitions of royalty and stream interests     (282,894 )   (17,929 )   (381,434 )   (23,214 ) Proceeds from the sale of gold bullion     -     -     17,875     -   Other     (45 )   (456 )   (77 )   (473 ) Net cash flows used in investing activities   (300,191 )   (19,380 )   (390,888 )   (36,046 )                     Financing activities                   Increase in long-term debt     233,000     -     249,000     10,437   Repayment of long-term debt     (18,000 )   (40,000 )   (34,000 )   (70,000 ) Exercise of share options and shares issued under the share purchase plan     799     8,889     4,522     11,476   Normal course issuer bid purchase of common shares     (8,029 )   -     (20,922 )   -   Dividends paid     (9,703 )   (7,853 )   (19,186 )   (15,463 ) Withholding taxes on settlement of restricted and deferred                           share units     (9 )   (5,732 )   (9,831 )   (6,385 ) Other     (332 )   (1,344 )   (593 )   (1,554 ) Net cash flows provided by (used in) financing activities   197,726     (46,040 )   168,990     (71,489 )                     Decrease in cash before effects of exchange rate changes on                   cash     (19,296 )   (14,045 )   (66,866 )   (10,081 ) Effects of exchange rate changes on cash     (40 )   601     340     611   Net decrease in cash     (19,336 )   (13,444 )   (66,526 )   (9,470 ) Cash – beginning of period   94,941     63,070     142,131     59,096   Cash – end of period     75,605     49,626     75,605     49,626