Elemental Royalty Corporation Acquisition of Vizsla Royalties Corp.

Elemental Royalty Corporation has entered into a definitive arrangement agreement to acquire Vizsla Royalties Corp. for approximately C$327 million. Vizsla Royalties shareholders can elect to receive C$4.13 in cash or 0.15 Elemental shares per Vizsla share, or a combination thereof, with a maximum cash consideration of C$82 million. The transaction is expected to close in the third quarter of 2026, subject to regulatory, court, and shareholder approvals. Upon completion, Elemental shareholders are expected to own approximately 89% of the merged entity, with former Vizsla shareholders holding 11%. The agreement includes customary deal protections and a C$12 million termination fee under certain circumstances.