Waratah Capital Advisors Ltd. and Riverstone VI LRC B.V. Update shareholdings in Lithium Royalty Corp.

TORONTO, March 5, 2026 /CNW/ - Waratah Capital Advisors Ltd. ("Waratah") and Riverstone VI LRC B.V. ("Riverstone") have announced that pursuant to a pre-existing call option agreement dated January 8, 2021, 2401261 Ontario Inc. (the "Ontario Entity"), an affiliate of Waratah, has acquired 1,972,602 common shares of Lithium Royalty Corp (the "Company") from Riverstone for nominal consideration of US$1.00. The acquisition was completed on March 5, 2026 and occurred in connection with the upcoming acquisition of Lithium Royalty Corp. (the "Company") by Altius Minerals Corporation (the "Purchaser") pursuant to a plan of arrangement under the Canada Business Corporations Act (the "Arrangement").

Prior to completion of the acquisition:

• Waratah, the Ontario Entity and the investment funds controlled by Waratah (collectively, the "Waratah Group"), directly and indirectly, had beneficial ownership of, or control or direction over, 30,549,214 convertible common shares of the Company, representing approximately 55.7% of the common shares of the Company on an as-converted basis; and
• Riverstone had beneficial ownership of, or control or direction over, 15,912,472 common shares of the Company, representing approximately 29% of the common shares of the Company on an as-converted basis.

Following completion of the acquisition:

• The Waratah Group, directly and indirectly, has beneficial ownership of, or control or direction over, 30,549,214 convertible common shares of the Company and 1,972,602 common shares of the Company, representing approximately 59.3% of the common shares of the Company on an as-converted basis; and
• Riverstone has beneficial ownership of, or control or direction over, 13,939,870 common shares of the Company, representing approximately 25.4% of the common shares of the Company on an as-converted basis.

The securities were acquired by the Ontario Entity and disposed of by Riverstone pursuant to the pre-existing call option agreement. The shares of the Company are subject to acquisition by the Purchaser pursuant to the Arrangement. Further details of the pre-existing call option agreement are set out in the Company's management information circular dated January 23, 2026 which has been filed under its issuer profile on SEDAR+ at www.sedarplus.ca.

A copy of the early warning report to be filed by Waratah in respect of the transactions contemplated in this press release can be obtained by contacting Philip Panet at 416-687-6791 or [email protected].

A copy of the early warning report to be filed by Riverstone in respect of the transactions contemplated in this press release can be obtained by contacting Thomas Smith at 212-271-6298.

The Company's head office is located at 1027 Yonge Street, Suite 303, Toronto, Ontario, M4W 2K9. Waratah's address is located at 1133 Yonge Street, 5th Floor, Toronto, Ontario, M4T 2Y7. Riverstone's address is located at Heregracht 450, 1017 CA, Amsterdam, Netherlands.

SOURCE Waratah Capital Advisors Ltd.

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