Tether Holdings Acquires 31.9% Stake in Elemental Royalty Corporation

Tether Holdings, through its subsidiaries Tether Investments, S.A. de C.V. and Tether International, S.A. de C.V., has acquired a 31.9% stake in Elemental Royalty Corporation, totaling 20,354,627 common shares. The acquisition was funded through working capital. Tether entities may engage in future transactions, including acquiring or selling shares, based on market conditions and the issuer's performance. On September 4, 2025, Tether Investments purchased approximately $100 million worth of shares at C$18.40 per share. A recent transfer on March 24, 2026, moved 9,407,667 shares from Tether Investments to Tether International, resulting in no change in the aggregate beneficial ownership by the reporting persons. The filing also discloses past regulatory actions against Tether entities, including a $41 million penalty from the CFTC and an $18.5 million settlement with the New York Attorney General.