How many lithium royalties acquired through the Lithium Royalty Corp. acquisition are in the exploration stage?

Through the Lithium Royalty Corp. acquisition completed on March 6, 2026, we acquired a portfolio of lithium royalties across multiple development stages. Based on the LRC royalties included in the back pages of our MD&A, of the 36 lithium royalties listed, most are classified as exploration stage**. The portfolio spans operating mines (such as Mt. Cattlin, Finniss, and others already producing), development-stage projects with defined start dates expected through 2028, and projects in various stages of advancement. The earliest start dates in the portfolio are 2023 (Grota do Cirilo and Tres Quebradas), with most others commencing production or expected to commence after 2024.

This diversified pipeline of operating to exploration-stage projects with long to ultra-long implied resource lives was a key attraction of the LRC acquisition, as it positions us to benefit from lithium demand growth across grid-based energy storage, transport, consumer products and emerging battery applications.