Fosterville DEVELOPMENT Victoria, Australia OPERATOR Agnico Eagle Mines Ltd. ("Agnico") COMMODITY TYPE TERMS LAND AREA Gold Royalty 2.5% GVR 90,400 ha Royalty Summary Fosterville is a high-grade, low cost underground gold mine in Vic- toria, Australia which has been in production since 2005. In 2023, Fosterville produced 277koz gold and a cash cost of A$285/oz. Ag- nico recently issued its guidance for 2024 at Fosterville where it an- ticipates producing 210 Koz of gold. In 2016, drilling at depth on the Phoenix decline led to the discovery of the high-grade Swan Zone. Similar zones at depth have been documented at the Harrier Zone which continues to extend south toward Metalla’s royalty claims. A ramp up in mining in the Harrier zone is anticipated to begin once Figure 1: Fosterville Mine cross Section development and ventilation upgrades are completed. Agnico has stated they are undergoing US$20.8 million dollars of exploration and development drilling at Fosterville with a focus on the Swan Zone, Cygnet and highly prospective Harrier south area where they have disclosed they have intersected quartz veins with visible gold similar in texture to those found in the Swan Zone. Metalla estimates the Lower Phoenix mineralization is currently ~700 meters from the royalty boundary (昀椀gure 1). Royalty & Mineralization Map Fosterville Fault Zone Mineralization 2.5% Royalty Claims Mining Lease * Mineralization in the Lower Phoenix Zone and the Harrier Zone are not necessarily indicative of the mineralization within Metalla's royalty Claims * For sources, please refer to note 8 on the Notes & Sources page. 22 Metalla Royalty & Streaming Ltd.