Santa Gertrudis DEVELOPMENT Sonora, Mexico OPERATOR Agnico Eagle Mines Ltd. ("Agnico") COMMODITY TYPE TERMS LAND AREA Gold Royalty 2.0% NSR 44,125 ha Royalty Summary Reserves Santa Gertrudis is a past producing mine located in Northern Sonora, Reserves & Resources - Au Mexico. Historically, Santa Gertrudis produced over 550,000 ounces P&P Reserves (koz Au) - of gold in the 1990’s at an average head grade of 2.13 g/t gold. Re- M&I Resources (koz Au) 563 cent exploration success has discovered two new high-grade depos- Inferred Resources (koz Au) 1,433 its, called Amelia and Espiritu Santo which have led to the expansion Reserves & Resources - Ag of exploration drilling budgets. In 2023, Agnico had an exploration P&P Reserves (koz Ag) - budget of approximately $10 million and focused on Amelia, Espiritu M&I Resources (koz Ag) 2,269 Santo and the new Santa Teresa zone. Inferred Resources (koz Ag) 7,389 Metalla Royalty Ounces - GEOs Agnico is evaluating a potential heap leach operation for the open pit P&P Reserves (koz) - lower grade ore and a small mill facility to process the higher-grade M&I Resources (koz) 11.8 ore and anticipates annual production of 100 to 150 Koz of gold at an Inferred Resources (koz) 30.5 all-in sustaining cost of $950 to $1,000 per ounce. * For royalty ounce calculation, Metalla estimates 100% of the Santa Gertrudis Mineral Resources and Mineral Reserves are subject to our royalty interest at a rate of 2.0%. Silver has been converted to Royalty GEOs assuming $23.00/oz. * For sources, please refer to note 9 on the Notes & Sources page. Metalla holds a 2% NSR royalty on the property, 1% of which can be bought back at any time for US$7.5 million. Royalty & Mineralization Map Mineralization Metalla Royalty & Streaming Ltd. 23