Metalla Asset Handbook

2 0 24 Asset Handbook www.metallaroyalty.com METALLA ROYALTY & STREAMING LTD. T: 604-696-0741 F: 604-688-1157 COMPANY ADDRESS Suite 501 - 543 Granville Street Vancouver, BC Canada V6C 1X8 CONTACT M: [email protected] NYSE: MTA W: www.metallaroyalty.com TSX: MTA 2024 © Metalla Royalty & Streaming Ltd.

2 Metalla Royalty & Streaming Ltd.

Contents 04 Letter to Shareholders 06 Our Business 07 Our Portfolio 08 Board of Directors 10 Management 14 Gold & Silver Assets 43 Copper Assets 52 Metalla's Royalties and Streams 54 Glossary 55 Notes and Sources 58 Forward Looking Statements Metalla Royalty & Streaming Ltd. 3

Letter to Shareholders Dear Shareholders, Today, six of our royalties are cash 昀氀owing. Over the course of the next year, we expect another 3-4 royalties in our portfolio will begin In 2016, we set out to pursue a strategic long-term vision with an cash 昀氀owing and an additional 6-10 royalties are expected to begin unwavering focus to build a leading royalty company. cash 昀氀owing in the next 3-5 years. That vision was built around giving shareholders exposure to the In fact, most of the gold, silver, and copper in our portfolio will likely, highest quality deposits while minimizing risk and maximizing based on guidance from project owners, begin production over the optionality. Our initial goal was to acquire 100 royalties covering at next ten years. We expect year-on-year growth each of those years, least one million gold equivalent ounces (“GEO”) to our account. starting in the second half of 2024. This aligns incredibly well with the commodity cycle that has begun, which in the past has historically We are excited to share that Metalla has achieved that goal, holding lasted approximately a decade. 102 royalties and ~1.7 million GEO’s to our account, and we will soon begin to realize the full bene昀椀ts of our high-quality, expansive royalty The bene昀椀t of owning royalties on high-quality deposits is that portfolio strategically built over the past eight years. they have a long-stated history of replacing reserves. We expect our operators will aggressively explore, continuing to produce for a Our portfolio now includes royalties on some of the world's highest period well beyond the stated reserve-life index or mine life. In many quality gold, silver, and copper deposits, primarily situated in the cases, our operators consistently convert resources to reserves, safest jurisdictions and operated by many of the top-tier mining leading to ongoing reserve expansion – even net of depletion. companies. We are committed to managing the access, cost, and allocation Our strategy remains focused on acquiring royalties and streams on of capital among our investment opportunities to maximize our deposits where the economic value is evident and highly prospective, shareholders returns over the long-term. but not yet fully understood by their operators. This allows Metalla to bene昀椀t from the signi昀椀cant investments made by the operators as In 2023, we acquired Nova Royalty. At the time of the announcement, these assets advance to production. With that approach, we built a with copper in the mid-three-dollar range and amid high expectations portfolio through 32 accretive transactions with an acquisition cost of a global recession, it was a contrarian, but calculated investment of ~ $180 per GEO. rooted in our long-term vision. Since closing, we have seen the NAV (net present value of future cash 昀氀ows) increase by upwards of As a royalty holder, Metalla avoids in昀氀ationary operating and capital $100 million with copper reaching all-time highs. Copper has since cost pressures. We receive our royalty ounces right off the top, been consolidating those gains and we believe the well documented meaning our pro昀椀t margin is nearly the full selling price, and we supply de昀椀cit and variety of growing demand will drive the price receive the full bene昀椀t of any future increases in price or future mine to new highs over the coming years. The market is beginning to expansions. recognize copper as a strategic commodity which is why we added it as the third metal in our portfolio. 4 Metalla Royalty & Streaming Ltd.

This is due to the scarcity of mega projects ready to be built in safe We recognize the need to do more to have investors support the jurisdictions and the inelastic nature of demand. As copper prices true valuation of Metalla and see a very attractive opportunity for continue to rise, we believe the royalties acquired through the Nova investors to initiate/increase their positions. transaction will materially enhance the pro昀椀le of Metalla for decades to come. Insiders of this company, including myself, are amongst the largest shareholders of Metalla and it’s the largest component of my net We have seen wide 昀氀uctuations in cost and access to capital worth. I have also consistently added to my position over the years creating some challenging capital market environments along the with on-market purchases. I want shareholders to remember that way. Despite this, we have successfully sourced and acquired since we began in September 2016, our company has always been royalties at attractive valuations for shareholders. run for the long-term. Building a successful royalty company today takes patient capital, an unwavering strategy, and positioning your As our business grows and balance sheet expands, we will be able shareholders for a little luck. to pursue larger transactions. However, we remain committed to follow the same discipline that served us so well to date, we will be While the future is always uncertain, I 昀椀rmly believe that Metalla patient and only pursue transactions that are accretive. (NYSE:MTA; TSX-V:MTA) is undervalued. In the second half of this year, we will see the start of what I believe will be a decade of We understand there are times to be aggressive with capital rising production growth, combined with rising prices and rising deployment and to be cautious. There are times to accumulate reserves and resources on our royalty properties. The diversi昀椀ed assets and to divest. We constantly evaluate several factors to nature of our portfolio has allowed us to maintain stability and determine what will drive shareholder returns over the long-term. underscores the quality and resilience of our assets. The long-term prospects for Metalla have never been brighter. Today, our consensus NAV is approximately double our book value of ~US$257 million. We believe NAV is understated today, due to Thank you for your ongoing trust and support. conservative long-term metals prices that are lower than the spot market and higher discount rates that apply to some of our assets Sincerely, because of our current market capitalization. Simply put, our valuation does not re昀氀ect the quality of our portfolio! Our share price has recently underperformed the track record of our Brett Heath achievements over the past eight years. We have witnessed that in Chief Executive Of昀椀cer some years, our business will outperform our stock, and in other Metalla Royalty & Streaming Ltd. years, our stock will outperform our business. But the two will never July 14, 2024 wander too far from each other over the long term. Metalla Royalty & Streaming Ltd. 5

Our Business Metalla is an emerging mid-tier royalty and streaming company that Royalties holds over 100 assets covering ~1.7 million gold equivalent ounces to our account. We provide investors leveraged exposure to gold, Royalties, often 1-2% of future production value, are typically estab- silver, and copper through prudent allocation of capital while min- lished when exploration and development properties change owner- imizing risk and maximizing optionality. We target assets that offer ship. They are usually a percentage of the net value received from exposure to proven geological trends, top tier operators, and the smelter processing, known as "net smelter return" (NSR) royalties. safest jurisdictions. Pro昀椀t-related royalties (NPI) are less common. Royalty rights are often registered on property titles or mineral rights and have strong tenure and generally survive operating company reorganizations in recognized jurisdictions. Streams A stream is a purchase agreement that grants the right to buy all or part of the metals produced from a mine, in exchange for an upfront deposit payment. The purchase price for these metals is 昀椀xed or a Our Expanding Royalty Portfolio percentage of spot price for the duration of the agreement. Royalties are not subject to in昀氀ationary operating and capital cost pressures. They are non-dilutive assets meaning despite how much equity or debt the operator may issue, our percentage of the deposit will always remain the same and royalties typically are enforceable in perpetuity. Royalties are free-carried interests, meaning once acquired, no fur- ther capital contributions are required. We receive our royalty ounc- es on our producing assets right off the top, meaning our pro昀椀t mar- gin is nearly the full selling price of the metal, and we receive the full bene昀椀t of any future increases in prices or future mine expansions. The bene昀椀t of owning royalties on high-quality deposits is they have a long-stated history of replacing reserves and continue to produce for a period well-beyond the stated reserve-life index or mine life. Our Partners In many cases, operators consistently convert resources to re- serves, leading to ongoing reserve expansion – even net of deple- tion. Our strong foundation of current and future cash-generating as- set base, combined with an experienced management team gives Metalla a path to become one of the leading gold, silver, and copper royalty companies. For further information, please visit our website at www.metallaroyalty.com. 6 Metalla Royalty & Streaming Ltd.

Our Portfolio 6 30 11 55 Production Development Advanced Exploration Assets Exploration Assets Assets Metalla Royalty & Streaming Ltd. 7

Board of Directors Brett Heath PRESIDENT AND CEO, DIRECTOR Mr. Heath has a comprehensive career in the royalty sector and public markets with over two decades of experience. Over his career, he has founded and built over $1 billion in value using the royalty model in the public and private markets. He is currently the Chief Executive Of昀椀cer of Metalla Royalty (NYSE: MTA) and Director of Key Carbon Ltd. (Private). He has completed over 50 royalty transactions in gold, silver, copper, nickel, and carbon markets with a diverse group of counterparties from major corporates, private equity, and private interests. Lawrence Roulston NON-EXECUTIVE CHAIRMAN Lawrence Roulston is a mining professional with over 35 years of diverse hands-on experience. He recently founded WestBay Capital Advisors, providing business advisory and capital markets expertise to the junior and mid-tier sectors of the mining industry. From 2014 to 2016, he was President of Quintana Resources Capital, which provided resource advisory services for US private investors, focused primarily on streaming transactions. Before Quintana, he was a mining analyst and consultant, as well as the editor of “Resource Opportunities”, an independent investment publication focused on the mining industry. Prior to this, Law- rence was an analyst or executive with various companies in the resources industry, both majors and ju- niors. He has graduate-level training in business and holds a B.Sc. in geology. Alexander Molyneux NON-EXECUTIVE DIRECTOR Mr. Molyneux is an experienced metals and mining industry executive and 昀椀nancier. He currently serves as Chief Executive Of昀椀cer of one of the world largest publicly listed uranium producers, Paladin Energy Ltd. (ASX:PDN) (2015 – present), where he recently presided over a US$700M recapitalization and successful public re-listing of the company. Mr. Molyneux also currently serves as Non-Executive Chairman of Argosy Minerals Ltd. (ASX:AGY) (2016 – present) and Azarga Metals Corp. (TSXV:AZR) (2016 – present). He was previously a Non-Executive Director of Goldrock Mines Corp. (TSXV:GRM) (2012 – 2016) until its successful sale to Fortuna Silver Inc. and was CEO and Director of SouthGobi Resources Ltd. (TSX: SGQ) (2009 – 2012), an Ivanhoe Mines Group company. Prior to these executive and director roles, Mr. Molyneux was Managing Director, Head of Metals and Mining Investment Banking, Asia Paci昀椀c for Citigroup in Hong Kong. As a specialist resources investment banker, he spent approximately 10 years providing advice and investment banking services to natural resources corporations. Mr. Molyneux continues to be based in Asia where he has an extensive network within the institutional investment community and local participants in the metals and mining industry. Mr. Molyneux holds a Bachelor Degree in Economics from Monash Univer- sity in Australia. 8 Metalla Royalty & Streaming Ltd.

Board of Directors James Beeby NON-EXECUTIVE DIRECTOR Mr. Beeby is a partner at a national Canadian law 昀椀rm with over 20 years’ experience advising clients on cor- porate 昀椀nance and mergers and acquisitions matters with a focus in the mining industry. Mr. Beeby has been recognized in Best Lawyers in Canada, the Canadian Legal Lexpert Directory and Who’s Who Legal Cana- da in a number of different practice areas. Mr. Beeby holds Bachelor of Laws degrees from the University of British Columbia and Warwick University (England) and is a member of the Law Society of British Columbia. Mandy Johnston NON-EXECUTIVE DIRECTOR Mandy Johnston holds a Bachelor of Accounting (Honours) Co-op degree from Brock University. She is a registered Chartered Professional Accountant with over 15 years of experience in both the mining industry and audit and assurance groups. Mandy joined Osisko Mining Inc. in 2015 and currently serves as the Vice President, Finance, with a preceding position as Director of Finance and Corporate Controller. Prior to joining Osisko Mining Inc., she held multiple roles at Corsa Coal Corp. and Collins Barrow LLP (now RSM Canada LLP). Metalla Royalty & Streaming Ltd. 9

Management Brett Heath PRESIDENT AND CEO, DIRECTOR Mr. Heath has a comprehensive career in the royalty sector and public markets with over two decades of experience. Over his career, he has founded and built over $1 billion in value using the royalty model in the public and private markets. He is currently the Chief Executive Of昀椀cer of Metalla Royalty (NYSE: MTA) and Director of Key Carbon Ltd. (Private). He has completed over 50 royalty transactions in gold, silver, copper, nickel, and carbon markets with a diverse group of counterparties from major corporates, private equity, and private interests. Saurabh Handa CHIEF FINANCIAL OFFICER Mr. Handa has over 15 years of progressive senior level experience as a mining professional with ex- perience in various areas including 昀椀nance, mergers and acquisitions, taxation planning, treasury man- agement, risk management, regulatory compliance, and multi-jurisdictional public company reporting. Recently, he has provided consulting services to various mining companies through his own company, Handa Financial Consulting Inc. Previously, he held the positions of Chief Financial Of昀椀cer of Titan Mining Corp., Vice President, Finance of Imperial Metals Corp., Chief Financial Of昀椀cer of Meryllion Resources Corp., Chief Financial Of昀椀cer of Yellowhead Mining Inc. and Controller for SouthGobi Resources Ltd. Mr. Handa currently serves as a Director and Chair of the Audit Committee for K92 Mining Inc. Mr. Handa is a Chartered Professional Accountant and graduated with Honours from the University of British Columbia with a diploma in Accounting. Prior to joining the accounting profession, Mr. Handa obtained a Bachelor of Science degree in Genetics from the University of British Columbia and a diploma in Computer Systems from the British Columbia Institute of Technology. Sunny Sara VP ACQUISITIONS Mr. Sara has several years of experience within the mining sector as a corporate development profes- sional, economic geology research analyst and gold prospector in Ontario. Mr. Sara's primary role is to help grow Metalla's asset portfolio to increase value in line with shareholder and corporate interests. Mr. Sara obtained his Master's of Science in Geology degree from University of Western Ontario with a focus on mineral resource estimation methods. Prior to his masters degree, he completed a Bachelor's of Com- merce degree with a major in geology from the University of Western Ontario. Kristina Pillon INVESTOR RELATIONS Ms. Pillon is the Founder and President of High Tide Consulting Corp. an investor relations advisory 昀椀rm focused on creating and implementing marketing strategies for public and private companies. Ms. Pillon has over a decade of capital markets experience focused primarily in the resource sector holding various roles, including 6 years at a Toronto-based boutique exempt market dealer as Head of Retail Marketing and Vice President Institutional Equity Sales. Prior to that, Ms. Pillon acted as Manager of Investor Rela- tions for several junior mining companies. Ms. Pillon has a Public Relations Degree from Kwantlen Poly- technic University and has completed the Canadian Securities Course. 10 Metalla Royalty & Streaming Ltd.

Management Jonah Townsend DIRECTOR OF FINANCE Mr. Townsend is a Chartered Professional Accountant who has been with Metalla since 2020. Prior to joining Metalla, he worked at KPMG Canada primarily in the mining practice where he gained signi昀椀cant experience working with both Canadian and US listed public companies, including experience gained in accounting, tax, and internal controls. Mr. Townsend obtained a Bachelor of Accounting degree from the Beedie School of Business at Simon Fraser University. Kim Casswell CORPORATE SECRETARY Ms. Casswell has been the Corporate Secretary of several public companies listed on the TSX Venture Exchange and the Toronto Stock Exchange since 1994, and has been providing independent corporate secretary services since 1995. Ms. Casswell has played an important role in the growth of these com- panies and is familiar with regulations governing public companies in several jurisdictions. Ms. Casswell has been and currently still is Corporate Secretary of a number of TSX Venture Exchange-listed junior exploration companies. Metalla Royalty & Streaming Ltd. 11

Gold Equivalent Royalty Ounces Metalla Gold Equivalent Royalty Ounces ("GEOs") are derived from the Mineral Reserves and Mineral Resources reported by the respective operating partners. GEOs represent the portion of an op- erator's reported Mineral Reserves or Mineral Resources that are at- tributed to Metalla’s royalty or stream interest. Calculation of GEOs: A traditional Net Smelter Return ("NSR") royalty on a gold mining property entitles Metalla to a percentage of the revenue from that property. For example, with a 2% NSR royalty, we calculate 2% of the declared Mineral Resources and Mineral Reserves as our "Royalty Ounces." We typically do not adjust for recoveries and re昀椀ning fees for gold NSRs, as these are typically minor. When calculating Royalty Ounces, our aim is to ensure they are comparable to attributable gold NSR Royalty Ounces. To achieve this comparability, we make adjust- ments under certain conditions: a. The asset does not cover all of the Mineral Reserves or Mineral Resources on a property: Metalla provides our best estimate of the total coverage of the asset towards the Mineral Reserves and Mineral Resources, including royalty coverage maps. b. An asset producing in base metals or silver: the attributable silver ounces and base metal pounds are converted into GEOs. The pric- ing assumptions for conversion are: $1,800 per ounce gold; $23 per ounce silver; $3.5 per pound copper; $10 per pound molybdenum; $1 per pound lead; $1.1 per pound zinc and $8 per pound nickel. c. Net Pro昀椀t Interest ("NPI") Royalty: An NPI is in昀氀uenced by the oper- ating and capital expenses unique to each asset. Metalla has created internal projections for the lifespan of each property to arrive at a rea- sonable estimate of the economic equivalent of a gold NSR Royalty GEO, based on an assumed gold price of $1,800. 12 Metalla Royalty & Streaming Ltd.

1,2 Metalla GEOS 4 Commodity P&P Reserves (koz) M&I Resources (koz) Inferred (koz) North American Royalties 154 462 301 Amalgamated Kirkland Au 1 1 - Aranzazu Cu, Au, Ag 8 14 5 Aureus East Mine (Dufferin) Au - 2 4 Big Springs Au - 11 9 Castle Mountain Au 54 67 29 Copper World Cu, Mo, Ag 29 70 12 Côté & Gosselin Au 6 70 41 Del Toro Ag, Pb - 2 3 Dumont Ni 40 64 19 El Realito Au, Ag - 2 - Esperanza Ag - 6 - Fifteen Mile Stream Au 6 8 1 Garrison Au - 33 17 Island Mountain Au - 1 8 Kings Canyon Au - - 4 La Encantada Au 2 4 3 La Fortuna Au, Ag, Cu - 4 - La Guitarra Au, Ag - 7 5 La Joya5 Au, Ag - - 48 La Luz5 Ag - - 8 La Parrilla Au, Ag - 1 3 Orion Au, Ag - 10 2 Plomosas Ag, Au, Pb, Zn, Cu - 7 8 Saddle North (Tatogga)5 Cu, Au - 16 26 San Martin Ag, Pb - 4 5 Santa Gertrudis Au, Ag - 12 31 Wasamac Au - 33 12 Wharf Au 8 13 1 Australian Royalties Zn, Pb, Ag 22 93 20 Endeavor 22 93 20 South American Royalties Au 363 534 299 CentroGold Au, Ag 17 21 6 Joaquin Au - 2 - Lama Au, Cu - 7 - NuevaUnión Au 93 130 56 Puchildiza - - 10 San Luis5 Au, Ag - 5 - Taca Taca Cu, Au, Mo 149 182 42 TZ (Tocantinzinho) Au 15 16 - Vizcachitas Cu, Mo, Ag 89 128 126 West Wall Cu, Au, Mo - 34 37 Zaruma Au - 16 22 Total 539 1,089 620 Metalla GEOs By Category Metalla Royalty Ounces By Location 48% 7% 44% 49% 24% 28% P&P Reserves M&I Resources Inferred Resources North America Australia South America 1. For information regarding the Metalla Royalty Ounces, please refer to individual asset write-ups. 2. Metallurgical deductions have not been made to the Mineral Resources and Mineral Reserves. 3. Copper, Lead, Zinc Royalty GEOs assume NSR deductions of 15% Nickel Royalty GEOs assume NSR deductions of 30%. 4. Mineral Resources are reported inclusive of Mineral Reserves. For assets where the counterparty reports Mineral Resources exclusive of Mineral Reserves, Metalla has added the Mineral Reserves to the Mineral Resources. 5. Mineral Resources are deemed be historic by property owner. 6. Readers are cautioned that GEOs are prepared by the management of Metalla and have not been reviewed or veri昀椀ed by the operators of the properties Metalla Royalty & Streaming Ltd. 13

Gold & Silver Assets 14 Metalla Royalty & Streaming Ltd.

Côté & Gosselin DEVELOPMENT Ontario, Canada OPERATOR IAMGOLD Corporation ("IAMGOLD"), Sumitomo Metal Mining Co., Ltd COMMODITY TYPE TERMS LAND AREA Gold Royalty 1.35% NSR 332 ha Royalty Summary Reserves Côté is poised to become one of Canada’s largest gold mines with an Reserves & Resources - Côté expected annual output of 495Koz and total cash costs of US$693/ P&P Reserves (koz Au) 7,610 oz in the 昀椀rst six years of operation. Construction of the mine com- M&I Resources (koz Au) 12,067 menced in the fall of 2020 and IAMGOLD is targeting ramp up to com- Inferred Resources (koz Au) 1,184 mercial production in mid-2024. Côté and Gosselin currently boasts Reserves & Resources - Gosselin a Proven & Probable Mineral Reserve of 7.61 Moz, a Measured and P&P Reserves (koz Au) - Indicated Resource of 16.49 Moz and an Inferred Resource of 4.16 M&I Resources (koz Au) 4,420 Moz making it one of the largest gold resources in Canada. Inferred Resources (koz Au) 2,980 Metalla Royalty Ounces - GEOs Our royalty covers a portion of the northern and north-eastern part P&P Reserves (koz) 6.2 of the Côté pit and all of the Gosselin gold project. Gosselin is cen- M&I Resources (koz) 69.4 tered ~1.5km to the northeast of the Côté deposit which IAMGOLD Inferred Resources (koz) 41.2 * Mineral Resources are reported inclusive of Mineral Reserves. estimates Gosselin to host a resource estimate of 4.42 Moz in the * For Royalty GEOs calculation, Metalla estimates 6% of Côté and 100% of Gosselin’s Mineral Resources and Mineral Reserves are subject to our royalty interest at a rate of 1.35%. Indicated Resource category and 2.98 Moz in the Inferred Resource * For sources, please refer to note 1 on the Notes & Sources page. category. Gosselin was discovered in 2019 and is part of the Côté joint venture between IAMGOLD & Sumitomo. IAMGOLD has indicat- ed that the Gosselin zones exhibit similar geology and metallurgical Royalty & Mineralization Map characteristics, indicating potential for similar gold recoveries to the Côté gold deposit. Royalty Boundary In October 2023, IAMGOLD announced the completion of another Mineralization successful drill campaign at Gosselin and reported additional results. IAMGOLD stated recent drilling at Gosselin provides evidence that the Gosselin deposit is approaching similar dimensions as the adja- cent Côté deposit. In addition, IAMGOLD continues to advance tech- nical studies on Gosselin, including metallurgical testing, mining and infrastructure studies to review alternatives to optimize the possible inclusion of the Gosselin deposit into a future Côté Gold life-of-mine plan. Notable intercepts from the recent Gosselin exploration program in- clude 0.65 g/t gold over 472 meters, 0.82 g/t gold over 356 meters, 1.40 g/t gold over 300.8 meters and 1.53 g/t gold over 240 meters. The Gosselin deposit remains open at depth to the northwest and along strike to the east and southwest. Metalla Royalty & Streaming Ltd. 15

Tocantinzinho PRODUCTION Para, Brazil OPERATOR G Mining Ventures ("G Mining") COMMODITY TYPE TERMS LAND AREA Gold Royalty 0.75% GVR 68,804 ha Royalty Summary Reserves 2,042 Tocantinzinho ("TZ") is being constructed as a conventional open pit Reserves & Resources - Au mining and milling gold operation in the Tapajos district in Para state, P&P Reserves (koz Au) 2,102 Brazil owned and operated by G Mining. In February 9, 2022 G Min- M&I Resources (koz AU) 50 ing published a positive feasbility study on Tocantinzinho outlining Inferred Resources (koz Au) 15.3 an expected mine life of 10.5 years with an estimated annual gold Metalla Royalty Ounces - GEOs P&P Reserves (koz) 15.8 production of 196 Koz over the 昀椀rst 昀椀ve years at a US$666 per ounce M&I Resources (koz) 0.4 cash cost and a target for production of H2-2024. G Mining has in- Inferred Resources (koz) dicated that construction is ontrack and on budget with the 昀椀rst gold pour announced on July 9, 2024 and commercial production slated * Mineral Resources are reported inclusinve of Mineral Reserves * For Royalty GEOs calculation, Metalla estimates 100% of the Tocantinzinho Mineral Resources and for H2 2024. Mineral Reserves are subject to our royalty interest at a rate of 0.75%. * For sources, please refer to note 2 on the Notes & Sources page. G Mining announced that recent exploration has identi昀椀昀椀ed a new Royalty & Mineralization Map target called Deja Vu, 12km west of the TZ pit. TZ is open at depth and down plunge where exploration below the pit included signi昀椀cant Royalty Coverage intercepts of 1.26 g/t gold over 39.5 meters and 2.45 g/t gold over 60 meters. Mineralization Based on expected mine performance as outlined in the feasibili- Property Line ty study published by G Mining, Metalla expects to receive ~1,300 GEOs per year during full production. 16 Metalla Royalty & Streaming Ltd.

Castle Mountain DEVELOPMENT California, USA OPERATOR Equinox Gold Corp ("Equinox") COMMODITY TYPE TERMS LAND AREA Gold Royalty 5.0% NSR 100 ha Royalty Summary Reserves Castle Mountain is an operating heap leach and mill gold mine lo- Reserves & Resources - Au P&P Reserves (koz Au) 1,088 cated in California, USA, north of Equinox’s Mesquite mine. Castle M&I Resources (koz Au) 1,345 Mountain is being developed by Equinox in two stages, Phase 1 and Inferred Resources (koz Au) 588 Phase 2. Phase 1 is currently operating at the JSLA with an expected 2024 production of 30 - 35 Koz of gold. Equinox has indicated that Metalla Royalty Ounces - GEOs Phase 2, which is expected to begin in the latter half of the decade P&P Reserves (koz) 54 and including South Domes, is projected to expand production to M&I Resources (koz) 67 more than 200koz of gold annually. Inferred Resources (koz) 29 * Mineral Reserve and Mineral Resource estimate refer to South Domes only. * Mineral Resources are reported inclusive of Mineral Reserves * For Royalty GEO calculation, Metalla estimates 100% of the South Domes Mineral Resources and Castle Mountain is poised to become one of the USA’s largest gold Mineral Reserves are subject to our royalty interest at a rate of 5.0%. mines with an expected annual output of 218Koz and total all-in sus- * For sources, please refer to note 3 on the Notes & Sources page. taining cost of $858/oz over the 14-year Phase 2 mine plan. Cas- tle Mountain currently boasts 4.2 Moz of gold Mineral Reserves, of Royalty & Mineralization Map which South Domes covers approximately 1.1Moz gold Mineral Re- serves. Equinox has outlined the potential to expand the 2021 feasi- Mineralization bility study Mineral Reserve pits to ultimately connect the JSLA and Property Line South Domes pits. Equinox has focused recent exploration activities in the area between South Domes and JSLA with in昀椀ll drilling completed on the South Overburden and JSLA dumps. Activities are ongoing to amend the current mining permits for the Phase 2 expansion. Metalla's 5% NSR royalty covers the South Domes region including the overlying South Overburden. Metalla Royalty & Streaming Ltd. 17

Wharf PRODUCTION Black Hills, South Dakota OPERATOR Coeur Mining Inc. ("Coeur") COMMODITY TYPE TERMS LAND AREA Gold Royalty 1.0% GVR 3,500 ha Royalty Summary Reserves Wharf is an open pit, heap leach operation located in the Northern Reserves & Resources - Au Black Hills of South Dakota wholly owned and operated by Coeur P&P Reserves (koz Au) 764 M&I Resources (koz Au) 498 Mining. The mine has been a consistent free cash 昀氀ow generating Inferred Resources (koz Au) 149 asset for Coeur and consists of several areas of adjoining gold min- eralization, which have been mined as a series of open pits. The Metalla Royalty Ounces - GEOs mine produced 93,502 ounces of gold in 2023. Coeur has set the P&P Reserves (koz) 7.6 production guidance range of 86-96 Koz for 2024. M&I Resources (koz) 5.0 Inferred Resources (koz) 1.5 Wharf has been in production since 1983. Coeur acquired the asset * Mineral Resources are reported exclusive of Mineral Reserves * For Royalty GEO calculation, Metalla estimates 100% of the Wharf Mineral Resources and Mineral in 2015 from Goldcorp Inc. (now Newmont Corporation) and subse- Reserves are subject to our royalty interest at a rate of 1.0%. * For sources, please refer to note 4 on the Notes & Sources page. * For sources, please refer to note 1 on the Notes & Sources page. quently increased plant ef昀椀ciency and replaced Mineral Reserves through exploration. During Coeur’s ownership, it has announced cumulative free cash 昀氀ow generated from Wharf of approximate- Royalty & Mineralization Map ly four times the original $99.5 million. Additionally, Wharf has a mine life of approximately six years. Coeur announced that activi- Mineralization ties during 2024 will include drilling to convert Mineral Resources to Mineral Reserves in the Juno area and extend the mine life. Royalty Coverage In 2023, Metalla received 1,008 GEOs from Wharf. Property Boundary 18 Metalla Royalty & Streaming Ltd.

Wasamac DEVELOPMENT Quebec, Canada OPERATOR Agnico Eagle Mines Ltd. ("Agnico") COMMODITY TYPE TERMS LAND AREA Gold Royalty 1.5% NSR 1,149 ha Royalty Summary Reserves Wasamac is a development-stage underground gold project near Reserves & Resources - Au Rouyn-Noranda, Quebec owned and operated by Agnico. Wasamac P&P Reserves (koz Au) - is adjacent to the Trans-Canada highway and Ontaria Northland rail M&I Resources (koz Au) 2,173 Inferred Resources (koz Au) 789 line, and ~100km west of Agnico Eagle’s Canadian Malartic complex. Metalla Royalty Ounces - GEOs Agnico has indicated that it envisions the project as an underground P&P Reserves (koz) - bulk mining operation with production of up to 200 Koz gold per year. M&I Resources (koz) 32.6 Studies are ongoing to assess the potential to process the Wasamac Inferred Resources (koz) 11.8 ores at the LaRonde or Canadian Malartic processing facilities with * For royalty ounce calculation, Metalla estimates 100% of the Wasamac Mineral Resources and Mineral Reserves are subject to our royalty interest and a rate of 1.50% is applicable. preliminary results expected in 2024. * For sources, please refer to note 5 on the Notes & Sources page. Exploration drilling in 2023 included a total of 19,000 meters with highlight intercepts of 4.9 g/t gold over 13.4 meters and 2.8 g/t gold Royalty & Mineralization Map over 18.8 meters. Agnico expects to drill 16,700 meters at Wasamac in 2024 focused on lateral extensions to the deposit. Mineralization Metalla holds a 1.5% NSR royalty on Wasamac, subject to a 0.5% buy back for C$7.5 million. Metalla Royalty & Streaming Ltd. 19

Endeavor DEVELOPMENT Cobar, Australia OPERATOR Polymetals Resources Ltd. ("Polymetals") COMMODITY TYPE TERMS LAND AREA Zinc, Silver, Lead Royalty 4.0% NSR 109,919 ha Royalty Summary Reserves Endeavor is a past-producing major underground silver-zinc-lead Reserves & Resources - Zn mine in Cobar, Australia owned by Polymetals Resources Limited. P&P Reserves (mlbs Zn) 499 Endeavor commenced production in 1982 and produced more than M&I Resources (mlbs Zn) 2,338 32 million tonnes of ore at 8.01% zinc and 89.2 g/t silver. The mine Inferred Resources (mlbs Zn) 526 was placed on care and maintenance in 2019. Reserves & Resources - Pb P&P Reserves (mlbs Pb) 221 On October 16 2023, Polymetals released a postive Endeavor Mine M&I Resources (mlbs Pb) 1,387 Inferred Resources (mlbs Pb) 253 restart study outlining potential for a robust and pro昀椀table future plan for the mine. As part of the restart plan Polymetals projects an ini- Reserves & Resources - Ag tial 10-year mine life producing 9.8 Moz silver, 210 kt zinc and 62 P&P Reserves (koz Ag) 14,059 M&I Resources (koz Ag) 34,697 kt lead with 昀椀rst concentrate production targeted for H2-2024. The Inferred Resources (koz Ag) 7,783 mine restart study produced a NPV8% of A$201 million and an IRR of 91%, with expenditures estimated to be A$23.8 million. Concurrent Metalla Royalty Ounces - GEOs with development of the mine, Polymetals continues to explore and P&P Reserves (koz) 21.7 delineate additional Mineral Resources near the main ore body. M&I Resources (koz) 92.5 Inferred Resources (koz) 19.7 Metalla holds a 4.0% NSR royalty on all silver, zinc, and lead pro- * Mineral Resources are reported inclusive of Mineral Reserves * For royalty ounce calculation, Metalla estimates 100% of the Endeavor Mineral Resources and Mineral duced from Endeavor. Reserves are subject to our royalty interest and the zinc and lead Royalty GEOs (factor in a 15% NSR smelting charge). Zinc has been converted to Royalty GEOs assuming $1.10 per pound. Lead has been converted to Royalty GEOs assuming $1.00 per/oz. Silver has been converted to Royalty GEOs assuming $23.00/oz. Royalty & Mineralization Map 20 Metalla Royalty & Streaming Ltd.

Amalgamated Kirkland DEVELOPMENT Kirkland Lake, Ontario OPERATOR Agnico Eagle Mines Ltd. ("Agnico") COMMODITY TYPE TERMS LAND AREA Gold Royalty 0.45% NSR 377 ha Royalty Summary Reserves Amalgamated Kirkland ("AK") is located adjacent to Agnico's Macas- Reserves & Resources - Au sa mine complex and is within a few hundred meters of the existing P&P Reserves (koz Au) 160 Macassa underground workings including the South Mine Complex M&I Resources (koz Au) 37 mineralization. Inferred Resources (koz Au) 52 Metalla Royalty Ounces - GEOs In the second quarter of 2023, Agnico outlined the potential to use P&P Reserves (koz) 0.7 the existing Macassa Near Surface Zone infrastructure to mine the M&I Resources (koz) 0.2 AK deposit as early as 2024, with production expected to average Inferred Resources (koz) 0.2 approximately 19 Koz gold in 2024 and between 35 - 50 koz annually * Mineral Resources are reported exclusive of Mineral Reserves * For royalty ounce calculation, Metalla estimates 100% of the Amalgamated Kirkland Mineral Resources from 2025 - 2028. and Mineral Reserves are subject to our royalty interest. * For sources, please refer to note 7 on the Notes & Sources page. In 2023, exploration drilling at AK continued to convert and expand the current Mineral Resources. Recent results include 21.8 g/t gold over 4.4 meters and 25 g/t over 5 meters. Royalty & Mineralization Map Mineralization Metalla Royalty & Streaming Ltd. 21

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.

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

La Encantada PRODUCTION Caohuila, Mexico OPERATOR First Majestic Silver Corp. ("First Majestic") COMMODITY TYPE TERMS LAND AREA Gold Royalty 100% GVR 4,076 ha on Au Royalty Summary Reserves The producing La Encantada Silver Mine in Coahuila, Mexico is 100% Reserves & Resources - Ag P&P Reserves (koz Ag) 13,665 owned by First Majestic and has become one of First Majestic’s most M&I Resources (koz Ag) 31,607 stable producing silver mines with 2023 production of 2.7 Moz of sil- Inferred Resources (koz Ag) 19,259 ver and 321 ounces of gold over its 4,076 ha land package. The un- derground silver mine has been in production under First Majestic’s Metalla Royalty Ounces - GEOs tenure since 2006, and through various improvements, the process- P&P Reserves (koz) 1.8 ing plant was upgraded to 4,000 tons per day (“tpd”) and includes a M&I Resources (koz) 4.1 roasting circuit to further enhance recoveries and recover tailings. Inferred Resources (koz) 2.5 * Mineral Resources are reported exclusive of Mineral Reserves * For royalty ounce calculation, Metalla estimates 100% of the La Encantada Mineral Resources and Miner In late 2021, First Majestic announced the successful completion of a al Reserves are subject to our royalty interest and a ratio of 0.013% is applied to convert silver to Metalla royalty gold ounces. land surface agreement on the 4,076 ha property package which it in- * For sources, please refer to note 10 on the Notes & Sources page. dicated would open up a signi昀椀cant amount of near mine exploration opportunities. First Majestic announced that it expects to complete Royalty & Mineralization Map 9,500 meters of exploration drilling at the mine in 2024 and expects 2024 production guidance to be in the range of 2.2 – 2.4 Moz silver. Mineralization Metalla receives 100% of the gold ounces produced at La Encantada, Royalty Boundary up to 1,000 ounces per year. In 2023 and 2022, La Encantada pro- duced 321 and 413 ounces of gold, respectively. 24 Metalla Royalty & Streaming Ltd.

Fifteen Mile Stream DEVELOPMENT Nova Scotia, Canada OPERATOR St. Barbara Mines Ltd. ("St. Barbara") COMMODITY TYPE TERMS LAND AREA Gold Royalty 1.0% NSR 728 ha 3.0% NSR (Plenty) Royalty Summary Reserves The Fifteen Mile Stream Project is located 57km northeast of St Bar- Reserves & Resources - Au P&P Reserves (koz Au) 618 bara’s central milling facility at its Touquoy deposit located in Nova M&I Resources (koz Au) 739 Scotia, Canada. The project lies along the same geological trend as Inferred Resources (koz Au) 98 other related deposits – Touquoy, Beaver Dam and Cochrane Hill. All are hosted within the same critical stratigraphy and structure, over a Metalla Royalty Ounces - GEOs strike length of 80 km. P&P Reserves (koz) 6.7 M&I Resources (koz) 8.1 On October 15 2023, an updated pre-feasibility study released by St. Inferred Resources (koz) 1.2 * Mineral Resources are reported inclusive of Mineral Reserves Barbara outlined a production pro昀椀le averaging 55-60 Koz gold over * For royalty ounce calculation, Metalla estimates 100% of the Fifteen Mile Stream Mineral Resources the 11 year life-of-mine. In addition to the strong project economics and Mineral Reserves are subject to our royalty interest at a rate of 1%. An effective royalty is applied to the Plenty deposit with a 40% coverage. of C$174 million post-tax NPV5 and IRR of 20.3%, the project is ex- * For sources, please refer to note 11 on the Notes & Sources page. pected to be further derisked with a tailing dams optimisation and the utilisation of existing equipment from Touquoy. St. Barbara indicated Royalty & Mineralization Map it will continue to focus on the completion of the updated environmen- tal and social impact assessment and expects to commence devel- 3.0% NSR opment by mid-calendar 2026. 1.0% NSR Metalla holds a 1% NSR royalty on the majority of the Fifteen Mile Mineralization Stream project and a 3% NSR royalty on nearly half of the Plenty deposit, subject to a buy back of 2% for C$1.5 million. Metalla Royalty & Streaming Ltd. 25

CentroGold DEVELOPMENT Para, Brazil OPERATOR BHP Biliton Limited ("BHP") COMMODITY TYPE TERMS LAND AREA Gold Royalty 1.0 - 2.0% NSR 120,000 ha Royalty Summary Reserves CentroGold is located in the Gurupi geological province in the state of Reserves & Resources - Au Maranhão. It is one of the largest undeveloped gold projects in Brazil P&P Reserves (koz Au) 1,100 with three main open pit deposits: Blanket, Contact, and Chega Tudo. M&I Resources (koz Au) 1,300 Inferred Resources (koz Au) 410 A pre-feasibility study released on July 11 2019, outlined a ten-year Metalla Royalty Ounces - GEOs operation where production in the 昀椀rst two years is expected to av- P&P Reserves (koz) 17.0 erage 190Koz to 210Koz gold annually with an expected ~1.1Moz of M&I Resources (koz) 21.0 total production excluding Chega Tudo. The CentroGold Contact and Inferred Resources (koz) 6.1 Blanket deposits remain open at depth and the expansive land pack- * Mineral Resources are reported inclusive of Mineral Reserves * For royalty ounce calculation, Metalla estimates that 100% of the CentroGold Mineral Resources age presents a great deal of exploration potential including several and Mineral Reserves are subject to our royalty interest and a rate of 1% is applied up to 500 koz, 2% between 501 koz and 1.5 moz and 1% thereafter. * For sources, please refer to note 12 on the Notes & Sources page. identi昀椀ed targets that may yield complimentary satellite deposits and a moderate resource estimate at Chega Tudo. Royalty & Mineralization Map The CentroGold project currently has a historical injunction placed on its mining license. In 2023, the previous operator, Oz Minerals (now a subsidiary of BHP) announced the approval by INCRA on the land use concession for mining activies, a request has been submitted to the courts to remove the injunction. Metalla holds a 1% NSR royalty on the 昀椀rst 500 koz gold, 2% NSR royalty between 500 koz and 1.5 Moz gold and a 1% NSR royalty thereafter. 26 Metalla Royalty & Streaming Ltd.

Garrison DEVELOPMENT Timmins, Canada OPERATOR Stllr Gold Inc ("Stllr Gold") COMMODITY TYPE TERMS LAND AREA Gold Royalty 2.0% NSR 374.5 ha Royalty Summary Reserves Metalla holds a 2% NSR royalty on a signi昀椀cant portion of the Garri- Reserves & Resources - Au son Project owned 100% by Stllr Gold. The Project is situated directly P&P Reserves (koz Au) - M&I Resources (koz Au) 1,931 on the proli昀椀c Destor-Porcupine Fault Zone (DPFZ) host to numerous Inferred Resources (koz Au) 1,005 gold mines. The royalty covers the Garrcon, JonPol, and eastern por- tion of the 903 deposit. Metalla Royalty Ounces - GEOs P&P Reserves (koz) - M&I Resources (koz) 32.8 Garrison now forms a signi昀椀cant part of the Tower Gold Project where Inferred Resources (koz) 17.1 a September 2022 preliminary economic assessment ("PEA") out- lined a 19,200 tpd combined open pit and underground mining op- * For royalty ounce calculation, Metalla estimates 85% of the Garrison Mineral Resources and Mineral Reserves are subject to our royalty interest at a rate of 2%. eration with the bulk of the early mining expected to begin from the * For sources, please refer to note 13 on the Notes & Sources page. Garrison area (Figure 2). The PEA outlined a 24 year mine life with average annual gold production of 261 Koz gold and peak production of 368 Koz gold at an all-in sustaining cost of $1,073/oz. Royalty & Mineralization Map Figure 2: Tower gold project production pro昀椀le Mineralization 2.0% NSR Metalla Royalty & Streaming Ltd. 27

La Parrilla DEVELOPMENT Durango, Mexico OPERATOR Silver Storm Mining Ltd. ("Silver Storm") COMMODITY TYPE TERMS LAND AREA Gold, Silver, Royalty 2.0% NSR 38,128 ha Lead, Zinc Royalty Summary Reserves La Parrilla is an underground mine complex owned by Silver Storm Reserves & Resources - Au consisting of multiple inter-connected mines within a ~38,128-ha P&P Reserves (koz Au) - land package. The property has known mineralization throughout, M&I Resources (koz Au) 2 with a complex of 昀椀ve past-producing underground mines sur- Inferred Resources (koz Au) 5 rounding the mill including Los Rosarios, La Rosa, San Jose, Que- Reserves & Resources - Ag bradillas and San Marcos. P&P Reserves (koz Ag) - M&I Resources (koz Ag) 3,484 Full production from the mine for 2018 totaled 2.3 Moz AgEq mean- Inferred Resources (koz Ag) 7,728 while 2017 production totaled 2.5 Moz AgEq. The mine was placed Metalla Royalty Ounces - GEOs on care and maintenance in 2019 to complete exploration and de- P&P Reserves (koz) - velopment work. The mine has a 2,000 tpd processing plant and all M&I Resources (koz) 1.4 associated infrastructure. Upon completion of the acquisition of the Inferred Resources (koz) 2.7 mine from First Majestic Silver, Silver Storm announced a 7,000 * For royalty ounce calculation, Metalla estimates that 100% of the La Parrilla Mineral Resources and Mineral Reserves are subject to our royalty at a rate of 2%. Silver has been converted to Royalty meter drill program and a target date of Q4 2024 for techncial stud- GEOs assuming $23/oz. * For sources, please refer to note 14 on the Notes & Sources page. ies and a mine restart plan. Silver Storm outlined mid-2025 as a target to restart mining at La Parrilla. Recent highlights from drilling at La Parrilla include 500 g/t AgEq over 14.8 meters, 1,810 g/t AgEq over 14.6 meters and 1,000 g/t AgEq over 5.25 meters. Royalty & Mineralization Map Mineralization Royalty Boundary Property Boundary 28 Metalla Royalty & Streaming Ltd.

La Guitarra DEVELOPMENT Mexico State, Mexico OPERATOR Sierra Madre Gold & Silver ("Sierra Madre") COMMODITY TYPE TERMS LAND AREA Gold, Silver Royalty 2.0% NSR 39,714 ha Royalty Summary Reserves La Guitarra is a fully permitted underground silver mine in Temascalte- Reserves & Resources - Au pec district, Mexico, 100% owned by Sierra Madre. The mine was in P&P Reserves (koz Au) - production in 2018 where production averaged between 1 million to M&I Resources (koz Au) 118 1.5 million AgEq ounces annually between 2015 and 2018. The mine Inferred Resources (koz Au) 68 remains fully permitted with a functional 500 tpd processing facility. Reserves & Resources - Ag P&P Reserves (koz Ag) - Sierra Madre announced a fast-track restart strategy for the mine M&I Resources (koz Ag) 18,073 whereby a district-scale exploration and mine development program Inferred Resources (koz Ag) 14,937 is expected to be initiated. Sierra Madre expects a mine restart study Metalla Royalty Ounces - GEOs in Q3 2024 with commercial production targeted as soon as Q1 2025. P&P Reserves (koz) - Sierra Madre has indicated that the mine restart study will focus on M&I Resources (koz) 7.0 an initial production level of 350 tonnes per day with an evaluation of Inferred Resources (koz) 5.2 increasing the circuit to greater than 500 tpd. * For royalty ounce calculation, Metalla estimates that 100% of the La Guitarra Mineral Resources and Mineral Reserves are subject to our royalty at a rate of 2%. Silver has been converted to Royalty GEOs assuming $23/oz. * For sources, please refer to note 15 on the Notes & Sources page. Additional opportunities remain for the potential reprocessing of tail- ings at La Guitarra where the 2023 Inferred Resource estimate is 5.0 Moz AgEq at 75 g/t AgEq. Metalla holds a 2% NSR royalty on La Guitarra, subject to a 1% buy- back for $2 million. Royalty & Mineralization Map Royalty Boundary Metalla Royalty & Streaming Ltd. 29

Lama DEVELOPMENT San Juan, Argentina OPERATOR Barrick Gold Corp. ("Barrick") COMMODITY TYPE TERMS LAND AREA Gold, Copper Royalty 2.5 - 3.75% GVR (Au) 594 ha 0.5 - 3% NSR (Cu) Royalty Summary Reserves Lama is the Argentine portion of the ~21Moz gold Pascua-Lama Reserves & Resources - Au gold project straddling the border between Chile and Argentina. P&P Reserves (koz Au) - The Chilean Pascua portion has been placed into a closure pro- M&I Resources (koz Au) 527 cess while the Argentina Lama portion, which has contained metal Inferred Resources (koz Au) 2 of 3.13 Moz gold and 236.9 Moz silver, is being considered by Metalla Royalty Ounces - GEOs Barrick as a standalone underground project as part of a potential P&P Reserves (koz) - Veladero-Lama complex operation. M&I Resources (koz) 6.6 Inferred Resources (koz) 0.03 * For royalty ounce calculation, Metalla estimates 50% of the Penelope Mineral Resources and Mineral Barrick indicated it has committed up to $75 million at the Lama Reserves are subject to our royalty interest at a rate of 2.5%. project with 10 to 12 drill rigs operating and studies are ongoing to * For sources, please refer to note 16 on the Notes & Sources page. evaluate the capital required to complete the mill and plant facilities in Argentina. Recent drilling in the royalty area has con昀椀rmed min- Royalty & Mineralization Map eralization 300 meters to the east of the current known resource in an area known as Lama East with signi昀椀cant intercepts including 1.79 g/t AuEq over 96.2 meters. At the Lama porphyry target, Bar- Mineralization rick announced that drilling con昀椀rmed the existence of gold-copper porphyry style mineralization at depth with a footprint of 2-km by Royalty Boundary 1.5-km. The Lama deposit remains open to the east, south and west of the project where no deep drilling has been conducted. Penelope is a satellite pit of the greater Lama project in the south- east section of the Lama project and less than 10km from the Ve- ladero mine which is in a 50% JV between Barrick and Shandong Gold Mining Corporation. In 2021, a small geo-metallurgical drill campaign was carried out to collect additional metallurgical data with a focus on the potential for treating the ore through heap leach processing at Veladero where the mine is nearing an end. Metalla holds a 2.5% GVR royalty on the 昀椀rst 5 Moz gold, 3.75% thereafter, and a 0.25 NSR royalty on all metals except gold and sil- ver which escalates to 3.0% based on cumulate net smelter returns from the royalty area. 30 Metalla Royalty & Streaming Ltd.

La Fortuna DEVELOPMENT Durango, Mexico OPERATOR Minera Alamos Inc. ("Minera Alamos") COMMODITY TYPE TERMS LAND AREA Gold Royalty 1.0 - 3.5% NSR 994 ha Royalty Summary Reserves La Fortuna is high-grade project currently being moved toward a pro- Reserves & Resources - Au duction decision by Minera Alamos. In a preliminary economic as- P&P Reserves (koz Au) - sessment released in August 2018, Minera Alamos published a study M&I Resources (koz Au) 310 that envisions an open pit milling operation targeting an average of Inferred Resources (koz Au) 9 50Koz of gold-equivalent ounces over a 5-year mine life at an AISC Metalla Royalty Ounces - GEOs of US$440/Oz. The study estimates an after-tax NPV at a 7.5% dis- P&P Reserves (koz) - count rate of US$69.8 million, IRR of 93% and an 11-month payback. M&I Resources (koz) 3.7 Minera Alamos received permits for the mine in the second half of Inferred Resources (koz) 0.1 2020. * For royalty ounce calculation, Metalla estimates that 100% of the La Fortuna Mineral Resources and Mineral Reserves are subject to our royalty interest at a rate of 1%. The 2.5% royalty is capped at 4.5 million using a $1,800 gold price. * For sources, please refer to note 17 on the Notes & Sources page. Metalla holds a 1% NSR royalty on La Fortuna and an additional 2.5% NSR royalty which is limited to US$4.5 million. Royalty & Mineralization Map Metalla Royalty & Streaming Ltd. 31

El Realito PRODUCTION Sonora, Mexico OPERATOR Agnico Eagle ("Agnico") COMMODITY TYPE TERMS LAND AREA Gold, Silver Royalty 2.0% NSR 1,800 ha Royalty Summary Reserves El Realito is a satellite deposit that is part of Agnico's operating La Reserves & Resources - Au India mine in Sonora, Mexico, 5km east of the main zone deposit. Ag- P&P Reserves (koz Au) - nico put El Realito into production in 2023, it produced over 75.9Koz M&I Resources (koz Au) 88 of gold in 2023 and is currently undergoing residual leaching. 2024 Inferred Resources (koz Au) 1 production is expected between 25 - 30 Koz gold. Reserves & Resources - Ag P&P Reserves (koz Ag) - Agnico indicated it is evaluating the potential to mill the Chipriona and M&I Resources (koz Ag) 459 Inferred Resources (koz Ag) 5 La India sulphides to produce a 昀氀otation concetrate. Metalla Royalty Ounces - GEOs In 2023, Metalla received 1,066 GEOs from El Realito. P&P Reserves (koz) - M&I Resources (koz) 1.9 Inferred Resources (koz) 0.02 * For royalty ounce calculation, Metalla estimates 100% of the El Realito Mineral Resources and Mineral Reserves are subject to our royalty interest at a rate of 2%. Silver has been converted to Royalty GEOs using $23/oz. * For sources, please refer to note 18 on the Notes & Sources page. Royalty & Mineralization Map Mineralization Royalty Boundary 32 Metalla Royalty & Streaming Ltd.

Plomosas ADVANCED EXPLORATION Sinaloa, Mexico OPERATOR GR Silver Mining ("GR Silver") COMMODITY TYPE TERMS LAND AREA Silver, Gold, Royalty 2.0% NSR 6,547.54 ha Lead, Zinc Royalty Summary Reserves Plomosas is a permitted, advanced exploration stage silver project in Reserves & Resources - Zn Sinaloa, Mexico owned and operated by GR Silver. After assuming P&P Reserves (mlbs Zn) - ownership of the project, GR Silver announced an updated resource M&I Resources (mlbs Zn) 126 Inferred Resources (mlbs Zn) 183 estimate at the Plomosas project and began an in昀椀ll drill program to add new zones into the resource model. Reserves & Resources - Pb P&P Reserves (mlbs Pb) - As reported by GR Silver, Signi昀椀cant results from the in昀椀ll drilling pro- M&I Resources (mlbs Pb) 104 gram at Plomosas include 518 g/t AgEq over 44.5 meters, 1,146 g/t Inferred Resources (mlbs Pb) 132 AgEq over 12.5 meters and 471 g/t AgEq over 24.9 meters. Reserves & Resources - Ag P&P Reserves (koz Ag) - GR Silver recently began test mining and bulk sampling at Plomosas M&I Resources (koz Ag) 8,804 where an initial extraction of 2,100 tonnes of material was processed Inferred Resources (koz Ag) 8,509 yielding 26 tonnes of concentrate at 12,715 g/t Silver, 12.85 g/t gold Metalla Royalty Ounces - GEOs and 6.9% lead. P&P Reserves (koz) - M&I Resources (koz) 6.7 Metalla holds a 2% NSR royalty on Plomosas, subject to a 1% buy Inferred Resources (koz) 7.6 back for $1 million. • For royalty ounce calculation, Metalla estimates 100% of the Plomosas and San Juan Mineral Resources and Mineral Reserves are subject to our royalty interest and the zinc and lead Royalty GEOs factor in a 15% NSR smelting charge. Zinc has been converted to Royalty GEOs assuming $1.10 per pound. Lead has been converted to Royalty GEOs assuming $1.00 per/oz. Silver has been converted to Royalty GEOs assuming $23.00/oz. • For sources, please refer to note 19 on the Notes & Sources page. Royalty & Mineralization Map Royalty Boundary Metalla Royalty & Streaming Ltd. 33

Hoyle Pond/Bint/Colbert DEVELOPMENT Timmins, Canada OPERATOR Newmont Corporation ("Newmont") COMMODITY TYPE TERMS LAND AREA Gold Royalty 2.0% NSR 228 ha Royalty Summary Royalty & Mineralization Map The Hoyle Pond Extension Royalties are located on claims that Mineralization are beneath the Kidd Creek metallurgical complex and immedi- ately adjacent to the east and northeast of the Hoyle Pond mine Royalty Boundary complex. The Hoyle Pond underground mine is the main contributor to New- mont's Porcupine camp in Timmins providing approximately 60% of the gold production. 2023 production for the Porcupine camp was 260 Koz gold. Metalla's 2% NSR Royalty on Newmont's Hoyle Pond Extension properties includes: The leased mining rights – located in Hoyle township (shown below on royalty claim map), north-east of the Hoyle Pond Gold Mine. The NSR royalty on the leased mining rights is payable after the initial 500,000 ounces gold equivalent threshold is met; The fee simple mining rights – located in Hoyle township, east of the Hoyle Pond Gold Mine; and * For sources, please refer to note 20 on the Notes & Sources page. The Colbert/Anglo Property – mining rights located in Matheson township, immediately east of the lease mining rights; (there is no minimum threshold on the fee simple or Colbert/Anglo properties). 34 Metalla Royalty & Streaming Ltd.

Esperanza DEVELOPMENT Morelos, Mexico OPERATOR Zacatecas Silver Corp. ("Zacatecas") COMMODITY TYPE TERMS LAND AREA Silver Stream 20% Silver Stream 14,337 ha Royalty Summary Reserves Esperanza is an advanced stage, low-capital-intensity gold project in Reserves & Resources - Au Morelos State, Mexico operated by Zacatecas. Esperanza was pre- P&P Reserves (koz Au) - viously acquired from Alamos which progressed the project through M&I Resources (koz Au) 913 advanced engineering, including metallurgical work, while focusing Inferred Resources (koz Au) 256 on stakeholder engagement through building community relations. Reserves & Resources - Ag Esperanza is an oxidized gold-silver skarn deposit which Zacatecas P&P Reserves (koz Ag) - expects to be mined via open pit and processed through heap leach- M&I Resources (koz Ag) 8,510 ing. The project has been envisioned by Zacatecas as a 7.3 Mt/an- Inferred Resources (koz Ag) 4,087 num project producing an annual average of 111 Koz gold and 225 Metalla Royalty Ounces - GEOs Koz silver. P&P Reserves (koz) - M&I Resources (koz) 6.4 Inferred Resources (koz) - Zacatecas has outlined that signi昀椀cant drilling has occurred on the Esperanza project with more than 69,000 meters completed to date. * For Royalty GEOs calculation, Metalla estimates that 100% of the Esperanza Mineral Resources and Mineral Reserves are subject to our royalty up to 500koz silver. Three zones of skarn mineralization exist within one kilometer of the * For sources, please refer to note 21 on the Notes & Sources page. deposit, the Northern Contact, NE Intrusive Contact and Colopotec Royalty & Mineralization Map prospects. Two holes at the Northern Contact have intercepted be- tween 12 and 15 meters of Skarn mineralization, averaging 150 g/t Mineralization silver. Additional targets exist on the 14,337 hectare land package including the Coatetelco, Mercury Mines and Alpuyeca targets. Royalty Boundary Zacatecas Silver has committed to incur a minimum of $7.5 million over a three-year period directed to advancing the development of Esperanza and to obtain approval of an Environmental Impact As- sessment Report. Metalla holds the 20% silver stream on Esperanza subject to ongoing payments of 20% of the silver spot price. The stream is subject to a maximum of 500 Koz silver delivery if commercial production occurs prior to 2029. Metalla also retains the right of 昀椀rst refusal on future royalty and stream 昀椀nancing for the Esperanza project. Metalla Royalty & Streaming Ltd. 35

New Luika PRODUCTION Songwe, Tanzania OPERATOR Shanta Gold COMMODITY TYPE TERMS LAND AREA Silver Stream 15% AG Stream 1,576 ha Royalty Summary Reserves The New Luika Gold Mine (“NLGM”) is located in the Chunya Ad- Reserves & Resources - Au P&P Reserves (koz Au) 297 ministrative District, Mbeya region in the Lupa Gold昀椀eld of southwest M&I Resources (koz Au) 672 Tanzania, the second largest gold producing region in Tanzania in the Inferred Resources (koz Au) 259 1900s. The property covers one prospecting license covering 49 km² * For sources, please refer to note 22 on the Notes & Sources page. and three mining licenses covering 16 km². NLGM was commissioned in August 2012 with new elution and electrowinning plant installed in Q2 2014 and new crusher plant commissioned in September 2014. The processing facility uses a conventional three stage crushing, two mills in parallel and a carbon in leach operation.Shanta reported that 2023 ended with gold production of 71 Koz gold and 111 Koz silver. Metalla holds a 15% interest in Silverback Limited ("Silverback"). Sil- verback is a privately held Guernsey-based investment company that solely owns 100% of the NLGM silver stream. Metalla receives 15% of the silver produced from all of the NLGM operation under a silver streaming agreement. Silver is purchased at 10% of spot upon delivery. The stream continues through 2026. In 2023, Metalla received 113 GEOs from NLGM. Royalty & Mineralization Map Mineralization Royalty Boundary 36 Metalla Royalty & Streaming Ltd.

San Luis ADVANCED EXPLORATION Ancash, Peru OPERATOR Highlander Silver Corp. ("Highlander") COMMODITY TYPE TERMS LAND AREA Gold, Silver Royalty 1.0% NSR 29,338 ha Royalty Summary Reserves San Luis is a district scale high grade gold-silver project owned Reserves & Resources - Au and operated by Highlander Silver and located in the Ancash P&P Reserves (koz Au) - Department in central Peru. A historical feasibility study on the San M&I Resources (koz Au) 348 Luis project was completed in the second quarter of 2010, outlin- Inferred Resources (koz Au) 3.6 ing a 3.5-year underground mine plan focused on the high-grade, Reserves & Resources - Ag silver-gold Ayelén vein. P&P Reserves (koz Ag) - M&I Resources (koz Ag) 9,003 Highlander noted multiple targets remain for growth on the 23,098 Inferred Resources (koz Ag) 175 hectare property including Gemelas, Carhuan-Puquio and La Boni- Metalla Royalty Ounces - GEOs ta. Historic drilling at La Bonita include 5.54 g/t gold and 25.43 g/t P&P Reserves (koz) - silver over 35.25 meters. M&I Resources (koz) 4.6 Inferred Resources (koz) 0.1 Highlander indicated that it plans to verify and update the historical * For Royalty GEOs calculation, Metalla estimates 100% of the San Luis Historical Mineral Resources and Mineral Reserves are subject to our royalty interest at a rate of 1%. Silver has been converted to Royalty mineral resource estimate. GEOs using $23/oz. A quali昀椀ed person has not done suf昀椀cient work to classify the historical estimate as a current mineral resource and Highlander Silver is not treating the historical estimate as a current mineral resource. * For sources, please refer to note 23 on the Notes & Sources page. Royalty & Mineralization Map Mineralization Royalty Boundary Metalla Royalty & Streaming Ltd. 37

Big Springs DEVELOPMENT Nevada, USA OPERATOR Warriedar Resources Ltd ("Warriedar") COMMODITY TYPE TERMS LAND AREA Gold Royalty 1.0% - 2.0% NSR 5,666 ha Royalty Summary Reserves Big Springs is a large Carlin-type gold deposit on the Independence Reserves & Resources - Au trend north of the Jerritt Canyon Mine in Elko, Nevada, owned by First P&P Reserves (koz Au) - M&I Resources (koz Au) 556 Majestic. Big Springs is a brown昀椀elds project where a joint venture Inferred Resources (koz Au) 1,014 between Freeport McMoRan and Independence Mining produced 386Koz at an average grade of 4.1 g/t gold between 1987 and 1993. Metalla Royalty Ounces - GEOs P&P Reserves (koz) - M&I Resources (koz) 11.1 Warriedar indicated it is planning follow up with de昀椀nition drilling on Inferred Resources (koz) 20.3 several brown昀椀eld targets speci昀椀cally South Sammy where signi昀椀- cant intersections from 2017 returned 10.7 metres at 30.9 g/t gold * For Royalty GEOs calculation, Metalla estimates 100% of the Big Springs Mineral Resources and Mineral Reserves are subject to our royalty interest at a rate of 2%. and North Sammy where historical intersections returned 19.8 me- * For sources, please refer to note 24 on the Notes & Sources page. tres at 9.9 g/t gold. Other targets include Beadles Creek, Mac Ridge East and Beadle Creek South. Golden Dome covers the southern Royalty & Mineralization Map end of the property, where historical drilling has returned intersections including 6.1 metres at 3.05 g/t gold with similarities to the nearby Jerritt Canyon mine. Metalla holds a 2% NSR royalty on unencumbered mineral claims and 1% NSR Royalty on encumbered mineral claims. 38 Metalla Royalty & Streaming Ltd.

Cam昀氀o EXPLORATION Val d'Or, Quebec OPERATOR Agnico Eagle Mines Limited ("Agnico") COMMODITY TYPE TERMS LAND AREA Gold Royalty 1.0% NSR 948 ha Royalty Summary The Cam昀氀o property, located 15 kilometres northwest of Val-d’Or, includes the old Cam昀氀o mine, which closed in 1992 after producing 1.6 Moz of gold, and a permitted mill. The property has not been ex- plored since the mid-1980s. Agnico indicated that it recently identi昀椀ed porphyry hosted gold mineralization that could potentially be mined via an open pit and milled at the nearby Canadian Malartic complex. During 2023, Agnico completed more than 14,000 meters of drilling in 60 positions on Cam昀氀o which marks the 昀椀rst exploration drill program since the 1.6 Moz past-producing deposit was closed in 1992. Notable intercepts announced by Agnico include 1.5 g/t gold over 81 meters, 3.3 g/t gold over 38.7 meters and 3.2 g/t gold over 16.2 me- ters over multiple zones. The second phase of exploration drilling at * For sources, please refer to note 25 on the Notes & Sources page. Cam昀氀o will test for potential lateral extensions of mineralization and in昀椀ll known zones. Royalty & Mineralization Map Metalla Royalty & Streaming Ltd. 39

Anglo-Zeke Anglo-Zeke EXPLORATION Cortez, Nevada OPERATOR Nevada Gold Mines ("Barrick/ Newmont JV") COMMODITY TYPE TERMS LAND AREA Gold Royalty 0.5 - 3% 7,500 ha * For sources, please refer to note 26 on the Notes & Sources page. GOR/NSR Royalty Summary The Anglo/Zeke claims cover more than 7,500 hectares of explora- Barrick previously has disclosed that mineralization at Goldrush is tion land owned by Nevada Gold Mines, east and southeast of the open and has identi昀椀ed a mineral potential area known as Goldrush Goldrush deposit along the Battle Mountain-Eureka trend. Barrick South on the Anglo/Zeke claims. has previously stated the Goldrush deposit is a large Carlin-type gold development project with commercial production projected for 2026, Nevada Gold Mines received the Record of Decision on Goldrush in aimed at progressing towards a steady-state production of more than 2023 and now forecasts to produce 130 Koz in 2024. 400,000 ounces of gold per annum. Goldrush’s end of 2022 Probable Reserve estimate is 8 million ounces at 7.27 g/t gold with a Measured and Indicated Resource estimate of 9.9 million ounces at 6.49 g/t gold and 4.5 Moz at 5.9 g/t gold in Inferred Resources. Royalty & Mineralization Map Mineralization Royalty Boundary Mineralization at Goldrush is not necessarily indicative of the mineralization within Metalla's royalty Claims 40 Metalla Royalty & Streaming Ltd.

Detour DNA EXPLORATION Northern Ontario, Canada OPERATOR Agnico Eagle Mines Limited ("Agnico") COMMODITY TYPE TERMS LAND AREA Gold Royalty 2.0% NSR 1,746 ha Royalty Summary Royalty & Mineralization Map Metalla owns a 2% NSR Royalty to the west of the Detour Lake Mine. Detour is a large open pit gold mine which has produced more than 5 million ounces of gold since 1983. Agnico reported that Detour hosts a mine life of approximately 28 years with 2023 gold production of 677 Koz. Detour Lake's greenstone-hosted orogenic lode gold miner- alization straddles the Sunday Lake Deformation Zone which extends 30 kilometres on the property striking East to West. Agnico recently announced high grade underground drill results 2.5 km west of the boundary of the West Detour pit, on strike with the royalty boundary. Agnico recently declared an initial underground inferred resource es- timate of 1.56 Moz gold at 2.23 g/t. Metalla estimates the western- most pit boundary of West Detour is ~7 kilometers from the royalty boundary. Mineralization Royalty Boundary * Mineralization in Detour Underground is not necessarily indicative of the mineralization within Metalla's royalty Claims * For sources, please refer to note 27 on the Notes & Sources page. Metalla Royalty & Streaming Ltd. 41

Green Springs EXPLORATION Ely, Nevada OPERATOR Orla Mining Ltd. ("Orla") COMMODITY TYPE TERMS LAND AREA Gold Royalty 2.0% NSR 1,865 ha Royalty Summary Royalty & Mineralization Map Green Springs is a Carlin-type gold project located in the southern Mineralization end of the Cortez trend operated by Contact Gold (a wholly owned Royalty Boundary subsidiary of Orla). Green Springs is 20km southeast of Calibre Gold’s producing Pan Mine and 45km south of Kinross Gold’s Bald Mountain mine complex. Green Springs historically produced 74Koz of gold at 2.31 g/t in the late 1980’s under US Minerals Exploration’s heap leach operation. Recent drilling in 2023, intercepted high grade mineralization includ- ing 1.97 g/t gold over 35.05 meters and 1.14 g/t gold over 27.43 me- ters in shallow oxides. Contact Gold indicated the 5,500 meter drill program in 2024, in partnership with Centerra Gold Inc (that has a right to acquire up to a 70% interest in the project), will focus on follow up drilling of high priority targets to potentially expand the re- source and further exploration drilling at depth and at frontier targets such as X-Ray, Whiskey, Foxtrot and Zulu. * For sources, please refer to note 28 on the Notes & Sources page. 42 Metalla Royalty & Streaming Ltd.

Copper Assets Metalla Royalty & Streaming Ltd. 43

Taca Taca DEVELOPMENT Salta, Argentina OPERATOR First Quantum Minerals ("First Quantum") COMMODITY TYPE TERMS LAND AREA Copper, Gold, Royalty 0.42% NSR 6.375 ha Molybdenum Royalty Summary Reserves Taca Taca, located in Salta, Argentina, is one of the largest copper Reserves & Resources - Cu projects in the Americas, wholly-owned by First Quantum. First Quan- P&P Reserves (mlbs Cu) 17,058 tum outlined that Taca Taca will consist of an open pit mine with a M&I Resources (mlbs Cu) 20,895 large 60 million tonnes per annum processing plant expected to pro- Inferred Resources (mlbs Cu) 4,899 duce more than 275,000 tonnes of copper per year at its peak along Reserves & Resources - Au with 106,000 ounces of gold and 2,205 tonnes of molybdenum. P&P Reserves (koz Au) 5,087 M&I Resources (koz Au) 6,051 Taca Taca is expected to be a long-life asset with an initial 32-year Inferred Resources (koz Au) 1,154 mine life and a large resource base providing a pre-tax net present Reserves & Resources - Mo value at an 8% discount rate of $3.4 billion and a 17.4% internal rate P&P Reserves (mlbs Mo) 465 of return. M&I Resources (mlbs Mo) 581 Inferred Resources (mlbs Mo) 142 Pre-development activities are ongoing by First Quantum including Metalla Royalty Ounces - GEOs positive progress on water sourcing and power line development. An P&P Reserves (koz) 149.0 initial Environmental and Social Impact Assessment for the project M&I Resources (koz) 182.0 was submitted in 2019 with approval expected in 2024. First Quan- Inferred Resources (koz) 41.7 tum expects to make a development decision on Taca Taca not be- * Mineral Resources are reported inclusive of Mineral Reserves * For Royalty GEOs calculation, Metalla estimates 100% of Taca Taca’s Mineral Resources and fore 2024. Mineral Reserves are subject to our royalty interest and a rate of 0.357% is applicable for the copper and molybdenum Royalty GEOs (which factors in a 15% NSR smelting charge). Copper has been converted to Royalty GEOs assuming $3.50 per pound. Molybdenum has been con verted to Royalty GEOs assuming $10.00 per pound. Royalty & Mineralization Map * For sources, please refer to note 29 on the Notes & Sources page. Mineralization Property Boundary Pit Boundary 44 Metalla Royalty & Streaming Ltd.

Aranzazu PRODUCTION Zacatecas, Mexico OPERATOR Aura Minerals Inc. ("Aura") COMMODITY TYPE TERMS LAND AREA Gold, Copper Royalty 1.0% NSR 11,182 ha Royalty Summary Reserves Aranzazu is an underground copper-gold-silver mine in Zacatecas, Reserves & Resources - Cu Mexico owned and operated by Aura Minerals Inc. The mine re- P&P Reserves (mlbs Cu) 270 opened in 2018 as a 3,350 tonne per day operation which produced M&I Resources (mlbs Cu) 489 106,119 gold equivalent ounces in 2023 at a $825/oz gold-equivalent Inferred Resources (mlbs Cu) 90 cash cost. Guidance for 2024 is for 94–108Koz of GEOs. Reserves & Resources - Au P&P Reserves (koz Au) 915 Aura has a long history of replacing reserves at Aranzazu. Since M&I Resources (koz Au) 467 restarting production in 2018, Aura has increased its proven and Inferred Resources (koz Au) 279 probable Mineral Reserves, net of depletion. Aura announced that Reserves & Resources - Ag exploration is ongoing with 29,400 meters of drilling budgeted on P&P Reserves (koz Ag) 5,721 the property of which only 5% has been drill-tested to date. Current M&I Resources (koz Ag) 10,592 reserves are mainly concentrated within the Glory Hole quarry with Inferred Resources (koz Ag) 2,056 exploration efforts ongoing to extend the Glory Hole mineralization, Metalla Royalty Ounces - GEOs as well as key targets such as Cabrestante, Catarroyo, Esperanza P&P Reserves (koz) 14.3 and El Cobre. M&I Resources (koz) 14.1 Inferred Resources (koz) 4.5 * Mineral Resources are reported inclusive of Mineral Reserves In 2023, the Metalla received 849 Royalty GEOs from the Aranzazu * For Royalty GEOs calculation, Metalla estimates 100% of the Aranzazu Mineral Resources and Mineral Reserves are subject to our royalty interest and a rate of 0.85% is applicable for the copper Royalty GEOs royalty. (which factors in a 15% NSR smelting charge). Copper has been converted to Royalty GEOs assuming $3.50/lb. Silver has been converted to Royalty GEOs assuming $23/oz. * For sources, please refer to note 30 on the Notes & Sources page. Royalty & Mineralization Map * 782 GEOs were received by Nova Royatly, a subsidiary of Metalla. Royalty Boundary Metalla Royalty & Streaming Ltd. 45

Vizcachitas DEVELOPMENT Central Chile OPERATOR Los Andes Copper ("Los Andes") COMMODITY TYPE TERMS LAND AREA Copper, Silver, Royalty 0.98% NSR (OP) 70 ha Molybdenum 0.49% NSR (UG) Royalty Summary Reserves Vizcachitas is a large copper-molybdenum porphyry deposit in central Reserves & Resources - Cu Chile, owned by Los Andes. On April 11 2023, Los Andes published a P&P Reserves (mlbs Cu) 9,623 pre-feasibility study outlining an initial 26-year open pit mine life with M&I Resources (mlbs Cu) 13,021 projected annual copper production of 183,000 tonnes at $0.93/lb Inferred Resources (mlbs Cu) 13,747 cash cost in the 昀椀rst eight years, a post-tax Net Present Value of $2.8 Reserves & Resources - Ag billion and an IRR of 24%. The project has existing infrastructure in- P&P Reserves (koz Ag) 43,600 cluding transport, power, access to desalinated water and year-round M&I Resources (koz Ag) 53,800 working conditions. Inferred Resources (koz Ag) 55,300 Los Andes has resumed exploration and optimization drilling where Reserves & Resources - Mo P&P Reserves (mlbs Mo) 365 several targets include possible resource extensions to the east, west M&I Resources (mlbs Mo) 526 and at depth. Los Andes indicated that it expects to complete a fea- Inferred Resources (mlbs Mo) 495 sibility study in 2024-2025 with potential commencement of commer- Metalla Royalty Ounces - GEOs cial production in 2030. The royalty covers approximately 50% of the P&P Reserves (koz) 89.1 open pit. M&I Resources (koz) 127.8 Inferred Resources (koz) 126.2 * Mineral Resources are reported inclusive of Mineral Reserves * For Royalty GEOs calculation, Metalla estimates 50% of the Vizcachitas Mineral Resources and Mineral Reserves are subject to our royalty interest and a rate of 0.417% is applicable for the copper and molyb denum Royalty GEOs (which factors in a 15% NSR smelting charge). Copper has been converted to Royalty GEOs assuming $3.50/lb. Molybdenum has been converted to Royalty GEOs assuming $10.00/lb. Silver has been converted to Royalty GEOs assuming $23.00 per ounce. Royalty & Mineralization Map * For sources, please refer to note 31 on the Notes & Sources page. Santa Maria 46 Metalla Royalty & Streaming Ltd.

Copper World DEVELOPMENT Arizona, USA OPERATOR Hudbay Minerals Inc. ("Hudbay") COMMODITY TYPE TERMS LAND AREA Copper, Silver, Royalty 0.315% NSR 8,000 ha Molybdenum Royalty Summary Reserves Copper World is a large open pit copper development project in Arizo- Reserves & Resources - Cu na, USA, owned by Hudbay. The 2023 pre-feasibility study released P&P Reserves (mlbs Cu) 4,583 by Hudbay contemplates four planned open pit mines with a two- M&I Resources (mlbs Cu) 6,512 phased mine-plan. The 20-year mine life Phase I plan is expected Inferred Resources (mlbs Cu) 1,940 Reserves & Resources - Ag to produce 92,000 tonnes of copper per year in the 昀椀rst 10 years P&P Reserves (koz Ag) 67,413 at $1.53/lb cash costs. Phase I comprised of the Bolsa, Broad Top M&I Resources (koz Ag) 78,781 Butte, Copper World, Peach and Elgin deposits are largely contained Inferred Resources (koz Ag) 19,473 within private lands, allowing for a simple permitting process. Phase II extends the mine life to 44 years through an expansion of the pro- Reserves & Resources - Mo cessing facilities and federal lands, resulting in up to 100,000 tonnes P&P Reserves (mlbs Mo) 92 of annual copper production. M&I Resources (mlbs Mo) 194 Inferred Resources (mlbs Mo) 50 Hudbay has indicated that it expects to receive the two outstanding Metalla Royalty Ounces - GEOs operating state permits for Phase I in 2024. Hudbay also indicated P&P Reserves (koz) 28.7 that it intends to initiate a minority joint venture partner process fol- M&I Resources (koz) 40.8 lowing receipt of permits with a goal of 昀椀rst production in 2027. Metal- Inferred Resources (koz) 11.9 * Mineral Resources are reported exclusive of Mineral Reserves la holds a right of 昀椀rst refusal for an additional 0.36% NSR. * For Royalty GEOs calculation, Metalla estimates 99% of the Copper World Mineral Resources and Miner al Reserves are subject to our royalty interest and a rate of 0.268% is applicable for the copper and molyb denum Royalty GEOs (which factors in a 15% NSR smelting charge). Copper has been converted to Royalty GEOs assuming $3.50 per pound of copper. Molybdenum has been converted to Royalty GEOs assuming $10.00/lb. Silver has been converted to Royalty GEOs assuming $23.00/oz. * For sources, please refer to note 32 on the Notes & Sources page. Royalty & Mineralization Map Metalla Royalty & Streaming Ltd. 47

NuevaUnión DEVELOPMENT Chile, South America OPERATOR Teck Resources Ltd / Newmont Corp. COMMODITY TYPE TERMS LAND AREA Gold, Copper, Royalty 2.0% NSR 175 ha Molybdenum Royalty Summary Reserves NuevaUnión is one of the largest undeveloped copper-gold-molyb- Reserves & Resources - Cu denum projects in the Americas which is being jointly-developed by P&P Reserves (mlbs Cu) 6,958 Teck Resources Limited ("Teck") (NYSE: TECK) and Newmont Cor- M&I Resources (mlbs Cu) 2,742 poration ("Newmont")(NYSE: NEM). The project is located in the Ata- Inferred Resources (mlbs Cu) 4,547 cama region of Chile and is comprised of two orebodies, Relincho Reserves & Resources - Au and La Fortuna, which are 40 km apart and were combined to create P&P Reserves (koz Au) 10,309 NuevaUnión. Metalla's NSR covers the Cantarito claim which is part M&I Resources (koz Au) 4,640 of the proposed open pit at the La Fortuna deposit and prospective Inferred Resources (koz Au) 6,176 exploration ground to the southeast. A pre-feasibility study was com- Metalla Royalty Ounces - GEOs pleted in early 2018 which showed annual average production of P&P Reserves (koz) 88.1 224,000 tonnes of copper, 269,000 ounces of gold, and 1,700 tonnes M&I Resources (koz) 37.1 Inferred Resources (koz) 55.6 of molybdenum in the 昀椀rst 昀椀ve years. * Mineral Resources are reported exclusive of Mineral Reserves * For Royalty GEOs calculation, Metalla estimates 20% of the NuevaUnion Mineral Resources and Mineral Teck discussed an updated preliminary economic assessment where Reserves are subject to our royalty interest and a rate of 1.85% is applicable for the copper Royalty GEOs (which factors in a 15% NSR smelting charge). Copper has been converted to Royalty GEOs assuming the initial stage development of NuevaUnión contemplates a convey- $3.50 per pound. * For sources, please refer to note 33 on the Notes & Sources page. or to transport ore from La Fortuna to a mill at the Relincho site. Work in 2024 will be focused on establishing a cost-effective path forward for Nuevaunión. Metalla holds a 2% NSR royalty on the Cantarito claim. Royalty & Mineralization Map Mineralization 48 Metalla Royalty & Streaming Ltd.

Dumont DEVELOPMENT Timmins, Canada OPERATOR Nion Nickel Inc. ("Nion") COMMODITY TYPE TERMS LAND AREA Nickel, Platinum Royalty 2.0% NSR 256.5 ha Group Metals Royalty Summary Reserves The Dumont Nickel-Cobalt project is a fully permitted, construc- Reserves & Resources - Ni tion-ready mine, which contains one of the world’s largest unde- P&P Reserves (mlbs Ni) 6,082 veloped reserves of nickel and cobalt. The project is operated by M&I Resources (mlbs Ni) 9,750 Nion, a subsidiary of Waterton Global Resource Management. Inferred Resources (mlbs Ni) 2,862 Metalla Royalty Ounces - GEOs An updated feasibility study was released in July 2019 highlighting P&P Reserves (koz) 39.7 M&I Resources (koz) 63.5 the project’s large scale, low cost and long-life, notably: Inferred Resources (koz) 18.7 Initial nickel production in concentrate of 33ktpa ramping up to * Mineral Resources are reported exclusive of Mineral Reserves * For Royalty GEOs calculation, Metalla estimates that 21% of the Dumont Mineral Resources and Mineral 50ktpa in Phase II expansion and production of approximately 1.2 Reserves are subject to our royalty at a rate of 1% (assuming the buy back is completed). Nickel has been converted to Royalty GEOs assuming $8/oz. million tonnes (2.6 billion pounds) of nickel in concentrate, over a * For sources, please refer to note 34 on the Notes & Sources page. 30-year life. Phase I C1 cash cost of $2.98/lb ($6,570/t). Life-of- mine C1 cash costs of $3.22/lb ($7,100/t Ni) and All-in Sustaining Cost of $3.80/lb ($8,380/t) of payable nickel. Metalla holds a 2% NSR royalty on Dumont subject to a 1% buy back for C$1 million. Royalty & Mineralization Map Mineralization Royalty Boundary Pit Boundary Metalla Royalty & Streaming Ltd. 49

West Wall ADVANCED EXPLORATION Valparaiso, Chile OPERATOR Anglo American plc / Glencore plc COMMODITY TYPE TERMS LAND AREA Copper, Gold, Royalty 1.0% NPR 5,081.5 ha Molybdenum Royalty Summary Reserves West Wall is a copper-gold-molybdenum porphyry deposit located in Reserves & Resources - Cu the Valparaiso Region of Chile, approximately 100km to the north- P&P Reserves (mlbs Cu) - east of Santiago and 70km north of the Rio Blanco-Los Bronces M&I Resources (mlbs Cu) 9,681 mineralized district. The project has two distinct mineralized zones: Inferred Resources (mlbs Cu) 9,926 Lagunillas and West Wall Norte. The mineralization zones are part Reserves & Resources - Au of an extensive north-northeast striking hydrothermal alteration zone P&P Reserves (koz Au) - of approximately 9km by 4km. The royalty covers the Lagunillas and M&I Resources (koz Au) 1,386 West Wall Norte zones, which comprise the existing resource on Inferred Resources (koz Au) 1,725 West Wall. Reserves & Resources - Mo P&P Reserves (mlbs Mo) - Metalla holds a 1.0% Net Proceeds Return royalty on West Wall. M&I Resources (mlbs Mo) 171 Inferred Resources (mlbs Mo) 142 Metalla Royalty Ounces - GEOs P&P Reserves (koz) - M&I Resources (koz) 33.6 Inferred Resources (koz) 37.3 * For Royalty GEOs calculation, Metalla estimates that 100% of the West Wall Mineral Reserve & Mineral Resources are subject to our royalty interest and a rate of 1% is applicable for the copper Royalty GEOs (which factors in a 15% NSR smelting charge and 90% cost deduction). Copper has been converted to Royalty GEOs assuming $3.50 per pound. * For sources, please refer to note 35 on the Notes & Sources page. Royalty & Mineralization Map Mineralization Royalty Boundary Pit Boundary 50 Metalla Royalty & Streaming Ltd.

Saddle North ADVANCED EXPLORATION British Columbia, Canada OPERATOR Newmont Corporation ("Newmont") COMMODITY TYPE TERMS LAND AREA Copper, Gold Royalty 0.25% NSR 36,700 ha Royalty Summary Reserves Saddle North is a gold-rich copper porphyry deposit located in the Reserves & Resources - Cu Golden Triangle in northwest British Columbia, Canada. Before being P&P Reserves (mlbs Cu) - acquired by Newmont in 2021, Saddle North was owned by GT Gold M&I Resources (mlbs Cu) 1,809 Corp (now wholly owned subsidiary of Newmont), which published a Inferred Resources (mlbs Cu) 2,982 maiden resource estimate for Saddle North in 2020. Reserves & Resources - Au P&P Reserves (koz Au) - Saddle North is adjacent to Newmont's Red Chris and Brucejack M&I Resources (koz Au) 3,471 mines in the Golden Triangle. Newmont has highlighted the potential Inferred Resources (koz Au) 5,455 for unlocked gold and copper opportunities at Saddle North given the Metalla Royalty Ounces - GEOs close proximity. P&P Reserves (koz) - M&I Resources (koz) 16.5 Inferred Resources (koz) 26.3 * For Royalty GEOs calculation, Metalla estimates more than 100% of the Saddle North historical Mineral Resources and Mineral Reserves are subject to our royalty interest and a rate of 0.17% is applicable for the copper Royalty GEOs (which factors in a 15% NSR smelting charge). Copper has been converted to Royalty GEOs assuming $3.50 per pound. * For sources, please refer to note 36 on the Notes & Sources page. Royalty & Mineralization Map Royalty Boundary Metalla Royalty & Streaming Ltd. 51

Metalla's Royalties & Streams Production Royalty Operator Location Commodity Interest Royalty Rate Aranzazu Aura Minerals Mexico Cu, Au, Ag 1.00% El Realito Agnico Eagle Mexico Au, Ag 2.00% La Encantada First Majestic Silver Mexico Au 100.00% Wharf Coeur United States Au 1.00% New Luika Stream Shanta Gold Tanzania Ag 15.00% Tocantinzinho G Mining Ventures Brazil Au 0.75% Development Royalty Operator Location Commodity Interest Royalty Rate Akasaba West Agnico Eagle Canada Au, Cu 2.00% Amalgamated Kirkland Agnico Eagle Canada Au 0.45% Castle Mountain Equinox Gold United States Au 5.00% Copper World Hudbay Copper United States Cu, Mo, Ag 0.32% Côté & Gosselin IAMGOLD Corp Canada Au 1.35% Dumont Nion Nickel Canada Ni 2.00% Esperanza Silver Stream Zacatecas Silver Corp Mexico Ag 20.00% Fifteen Mile Stream St. Barbara Mines Canada Au 1.00% Fifteen Mile Stream (plenty) St. Barbara Mines Canada Au 2.00% Garrison Moneta Gold Canada Au 2.00% Hoyle Pond Extension Newmont Mining Canada Au 2.00% La Fortuna Minera Alamos Mexico Au, Ag, Cu 1.00% La Guitarra Sierra Madre Gold & Silver Mexico Au, Ag 2.00% La Parrilla Silver Storm Resources Mexico Au, Ag 2.00% North Amalgamated Kirkland Agnico Eagle Mines Canada Au 0.45% Santa Gertrudis Agnico Eagle Mexico Au, Ag 2.00% Timmins West Pan American Silver Canada Au 1.50% Twin Metals Antofagasta United States Ni, Cu, PGM 2.40% Wasamac Agnico Eagle Canada Au 1.50% Endeavor Polymetals Australia Zn, Pb, Ag 4.00% Fosterville Agnico Eagle Australia Au 2.50% CentroGold BHP Brazil Au 1.00% COSE (Cap-Oeste Sur East) Patagonia Gold Argentina Au, Ag 1.50% Joaquin Pan American Silver Argentina Au, Ag 2.00% Josemaria Lundin Mining Argentina Cu, Au 0.00% Lama Barrick Gold Argentina Au 2.50% Lama Barrick Gold Argentina Cu 0.25% NuevaUnión Newmont Mining \ Teck Resources Chile Au 2.00% Taca Taca First Quantum Minerals Argentina Cu, Au, Mo 0.42% Vizcachitas Los Andes Copper Chile Cu, Mo, Ag 0.98% 52 Metalla Royalty & Streaming Ltd.

Metalla's Royalties & Streams Advanced Exploration Royalty Operator Location Commodity Interest Royalty Rate Aureus East Mine (Dufferin) Aurelius Minerals Inc. Canada Au 1.00% Big Springs Warriedar Resources United States Au 2.00% Del Toro First Majestic Silver Mexico Ag, Pb 2.00% La Joya Silver Dollar Resources Mexico Au, Ag 2.00% Lac Pelletier Maritime Resources Canada Au 1.00% Plomosas GR Silver Mexico Ag, Au, Pb, Zn, Cu 2.00% Saddle North (Tatogga) Newmont Mining Canada Cu, Au 0.25% San Martin First Majestic Silver Mexico Ag, Pb 2.00% San Luis Highlander Silver Peru Au, Ag 1.00% West Wall Anglo American/Glencore Chile Cu, Au, Mo 1.00% Zaruma Pelorus Capital Ecuador Au 1.50% Exploration Royalty Operator Location Commodity Interest Royalty Rate Anglo / Zeke Nevada Gold Mines United States Au 0.50% Bancroft Transition Metals Corp Canada Ni, Cu, PGM 1.00% Beaudoin Galleon Gold (Explor Resources) Canada Au, Ag 0.40% Big Island Voyageur Mineral Explorers Corp. Canada Au 2.00% Bint Glencore Canada Au 2.00% Biricu Minaurum Gold Inc. Mexico Au, Ag 2.00% Boulevard Independence Gold NL Canada Au 1.00% Caldera Metalla Royalty and Streaming United States Au 1.00% Cam昀氀o Agnico Eagle Canada Au 1.00% Carlin East Ridgeline Minerals United States Au, Ag 0.50% Colbert / Anglo Newmont Mining Canada Au 2.00% Copper King Paci昀椀c Empire Minerals Corp Canada Cu,Au,Ag 1.00% DeSantis Canadian Gold Miner Canada Au 1.50% Detour DNA Agnico Eagle Mines Canada Au 2.00% Dundonald Class 1 Nickel Canada Ni, Cu, Co, PGM 1.25% Edwards Mine Alamos Gold Canada Au 1.25% Elephant Head Private Company Canada Au 1.00% Fenn Gibb South Mayfair Gold Corp Canada Au 1.40% Fortuity 89 Metalla Royalty and Streaming United States Au 1.00% Golden Brew Highway 50 Gold United States Au 0.50% Golden Dome Warriedar Resources United States Au 2.00% Good昀椀sh Kirana Warrior Gold Canada Au 1.00% Green Springs Orla Mining United States Au 2.00% Homathko Transition Metals Corp Canada Au 1.00% Hot Pot / Kelly Creek Nevada Exploration / Austin Gold Corp United States Au 1.50% Island Mountain Tuvera Exploration Inc. United States Au 2.00% Janice Lake Forum Energy Metals Corp Canada Cu, Ag 1.00% Jersey Valley Metalla Royalty and Streaming United States Au 2.00% Kings Canyon Pine Cliff Energy United States Au 2.00% Kirkland - Hudson Agnico Eagle Mines Canada Au 2.00% La Luz First Majestic Silver Mexico Ag 2.00% Maude Lake Transition Metals Corp Canada NI, Cu, PGM 1.00% Mirado Ore昀椀nders Canada Au 1.00% Montclerg GFG Resources Canada Au 1.00% Northshore West Newpath Resources Canada Au 2.00% Nub East Paci昀椀c Empire Minerals Corp Canada Cu, Au 1.00% NWT Paci昀椀c Empire Minerals Corp Canada Cu, Au 1.00% Orion Minera Frisco Mexico Au, Ag 2.75% Pelangio Poirier Pelangio Exploration Canada Au 1.00% Pine Valley Nevada Gold Mines United States Au 3.00% Pinnacle Paci昀椀c Empire Minerals Corp Canada Cu, Au 1.00% Red Hill NuLegacy Gold Corporation United States Au 1.50% Ronda PTX Metals Canada Au 2.00% Saturday Night Transition Metals Corp Canada NI, Cu, PGM 1.00% Sirola Grenfell Pelangio Exploration Canada Au 0.25% Solomon's Pillar Private Company Canada Au 1.00% Tower Mountain / Tower Stock White Metal Resources Corp Canada Au 2.00% TVZ Zone Newmont Mining Canada Au 2.00% West Matachewan Laurion/Canadian Gold Miner Canada Au 1.00% Wollaston Copper Transition Metals Corp Canada Cu 1.00% Capricho Solaris Resources Peru Au, Ag 1.00% Los Patos Private Company Venezuela Au 1.50% Pucarana Buenaventura Peru Au 1.80% Puchildiza Metalla Royalty and Streaming Chile Au 1.50% Santo Tomas / Los Tambos Pucara Gold Peru Au 1.00% Metalla Royalty & Streaming Ltd. 53

Glossary AISC - All-in Sustaining Cost CIL - Carbon-in-leach g/t - Grams per tonne FS - Feasibility Study GEOs - Gold Equivalent Ounces GOR - Gross Overiding Royalty GVR - Gross Value Return Royalty JORC - Australian Joint Ore Reserve Committee koz - Thousand Troy Ounces kt - Thousand tonnes M&I - Measured & Indicated Moz - Million Ounces Mt - Million Tonnes NAV - Net Asset Value NI 43-101 - National Instrument 43-101 NPI - Net Pro昀椀t Interest NPV - Net Present Value NSR - Net Smelter Return P&P Reserves - Proven & Probable Reserves PEA - Preliminary Economic Assessment PFS - Prefeasibility Study tpd - Tonnes Per Day 54 Metalla Royalty & Streaming Ltd.

Notes And Sources Quali昀椀ed Person Technical and Third-Party Information The technical information contained in this Asset Handbook has Metalla has limited, if any, access to the properties on which Metalla been reviewed and approved by ‎Charles Beaudry, geologist holds a royalty, stream or other interest. Metalla is dependent on (i) M.Sc., member of the Association of Professional ‎Geoscientists of the operators of the mines or properties and their quali昀椀ed persons Ontario and of the Ordre des Géologues du Québec. Mr. Beaudry to provide technical or other information to Metalla, or (ii) publicly is ‎a QP as de昀椀ned in National Instrument 43-101 - Standards of available information to prepare disclosure pertaining to properties Disclosure for Mineral ‎Projects (“NI 43-101”).‎ and operations on the mines or properties on which Metalla holds a royalty, stream or other interest, and generally has limited or no Non-IFRS Financial Measures ability to independently verify such information. Although Metalla Metalla has included certain performance measures in this Asset does not have any knowledge that such information may not be Handbook that do not have any standardized meaning prescribed accurate, there can be no assurance that such third-party informa- by International Financial Reporting Standards (“IFRS”) includ- tion is complete or accurate. Some information publicly reported by ing attributable gold equivalent ounces (GEOs). The Company operators may relate to a larger property than the area covered by believes that, in addition to conventional measures prepared in Metalla's royalty, stream or other interests. Metalla's royalty, stream accordance with IFRS, certain investors use this information to or other interests can cover less than 100% and sometimes only a evaluate the Company's performance and ability to generate cash portion of the publicly reported mineral reserves, mineral resources 昀氀ow. and production of a property. Attributable GEOs are a non-IFRS 昀椀nancial measure that is com- Unless otherwise indicated, the technical and scienti昀椀c disclosure posed of gold ounces attributable to the Company, plus an amount contained or referenced in this Asset Handbook, ‎including any ‎ref- calculated by taking the expected revenue by the Company from erences to mineral resources or mineral reserves, was prepared in payable silver ounces, copper pounds, lead pounds and zinc accordance with Canadian ‎NI 43-101‎, which differs signi昀椀cantly from pounds attributable to the Company, less material costs, divided the requirements of the U.S. Securities and ‎Exchange Commission by the price of gold. The Company presents attributable GEOs as (the “SEC”) ‎applicable to U.S. domestic issuers. Accordingly, the it believes that certain investors use this information to evaluate scienti昀椀c and technical ‎information contained or referenced in this the Company’s performance in comparison to other streaming Asset Handbook may not be comparable to similar information and royalty companies in the precious metals mining industry who made ‎public by U.S. companies subject to the reporting and ‎disclo- present attributable ounces on a similar basis sure requirements of the SEC. The presentation of these non-IFRS 昀椀nancial measures is intend- ed to provide additional information and should not be considered ‎“Inferred mineral resources” have a great amount of uncertainty in isolation or as a substitute for measures of performance pre- as to their existence and great uncertainty as to ‎their ‎economic pared in accordance with IFRS. Other companies may calculate and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ‎ever be ‎upgraded to a higher category. these non-IFRS 昀椀nancial measures differently. Historical results or feasibility models presented herein are not guar- antees ‎or expectations of ‎future performance. In addition, this Asset Handbook contains disclosure of historical estimates in respect of which a quali昀椀ed person has not done suf昀椀cient work to classify the historical estimate as a current mineral resource and the property owner is not treating the historical estimate as a current mineral resource. There can be no assurance that such historical estimates will ever be converted to a current mineral resource. Metalla Royalty & Streaming Ltd. 55

Notes And Sources 1. IAMGOLD Corporation’s press release dated March 31, 2024, February 15, 2024 and 2023 Annual Information Form. 2. G Mining's March 2023 Corporate Presentation, G Mining's 2023 Annual Information Form, Feasibility Study – NI 43-101 Technical Report, Tocantinzinho Gold Project” dated February 9, 2022, with an effective date of December 10, 2021, prepared for G Mining, G Mining’s news release dated August 09, 2021 and G Mining's news release dated July 9, 2024. 3. Equinox Gold Corporation 2023 Annual Information Form and Q4 2023 Management Discussion & Analysis, Equinox’s news release dated March 22, 2021 and “NI 43-101 Technical Report on the Preliminary Feasibility Study for the Castle Mountain Project, San Bernardino County California, USA”, with an effective date of July 16, 2018 prepared for Equinox Gold. and ‎“Technical Report on the Castle Mountain Project, Feasibility Study, San Bernardino County, California, ‎USA”, with an effective date of February 26, 2021, pre- pared for Equinox Gold‎. 4. Coeur Mining, Inc press release dated February 20 and 21, 2024 and Coeur Mining 10-K 昀椀led on February 21, 2024. 5. Agnico Eagle Mines press release dated February 15, 2024, Yamana Gold’s 2023 Annual Information Form, "NI 43-101 Technical Report" on the Wasamac Feasibility Study Update, Québec, Canada” effective as of July 16, 2021, prepared for Yamana Gold and 昀椀led on September 13, 2022 and Agnico Eagle’s February 16, 2023 news release 6. Polymetals Resources Endeavor Mine Restart Study dated October 16 2023, Corporate Update dated April 10 2024 and Polymetals’ ASX Announcement dated March 28, 2023 7. Agnico Eagle Mines press release dated February 15, 2024 8. Agnico Eagle Mines press release dated February 15, 2024, Agnico Eagle’s 2024 AIF and "Updated NI 43-101 Technical Report for Fosterville Gold Mine" December 31, 2018 prepared for Kirkland Lake Gold Ltd. and 昀椀led on April 1 2019‎. 9. Agnico Eagle Mines press release dated February 15, 2024, Agnico Eagle Mines news released dated February 16, 2023, Agnico Eagle Mines Presentation dated January 26, 2022 and Agnico Eagle press release dated November 2, 2021 and August 11, 2022. 10. First Majestic's 2023 Annual Information Form, First Majestic's 2022 Annual Information Form, and First Majestic Silver press releases dated October 12 2021, January 16, 2024, First Majestic Silver October 12, 2021 Press Release and April 1, 2024. 11. St. Barbara Limited Fifteen Mile Stream Pre-feasibility Results dated October 10, 2023 and Gold Corporation’s news release dated July 21, 2017. 12. Oz Minerals CentroGold Pre-Feasibility Study dated July 11 2019, Oz Minerals Q4 2022 Report and OZ Minerals Limited 2018 Annual and Sustainability Report 13. "NI 43-101 Report & Preliminary Economic Assessment of the Tower Gold Project, Northeastern Ontario, Canada”, with an effective date of September 7, 2022, prepared for Moneta Gold Inc., and STLLR Gold 2023 Annual Information Form 14. Silver Storm Mining press release dated February 22 2024, Silver Storm’s website landing page for La Parrilla and Silver Storm Mining April 2024 Presentation. 15. Sierra Madre Gold & Silver April Presentation, Sierra Madre’s news release dated February 8, 2024, November 1, 2023 and La Guitar- ra Mineral Resource Estimate Technical Report dated December 15, 2023. 16. Barrick Gold Corp 2021 and 2024 Annual Information Forms, "NI 43-101 Technical Report for the Pascua Lama Project titled “Technical Report on the Pascua Lama Project” dated March 31, 2011, Barrick Q3 2021 Results Presentation, Barrick Argentina's Q3 2021 Media Day and Barrick's Q1 2021 Results Presentation 17. Minera Alamos’ May 2024 Corporate Presentation and "NI 43-101 Technical Report, Mineral Resource Update and Preliminary Eco- nomic Assessment of the La Fortuna Gold Project, Durango State, Mexico”, with an effective date of July 13, 2018, prepared for Minera Alamos Inc. 18. Agnico Eagle Mines press release dated April 2024, Agnico’s La India Website page and Agnico’s press release dated Feb. 23, 2022 19. GR Silver April 2024 Presentation, GR Silver’s news releases dated October 31, 2022 and March 4, 2024 and 2023 Technical Report for the Plomosas Project dated May 3, 2023. 20. “Review of the Porcupine Joint Venture Operation, Ontario, Canada, NI 43-101 Technical Report”, with an effective date of August 28, 2006, prepared for Goldcorp Inc. 21. Zacatecas Silver Corp Q3 2022 MD&A and Zacatecas Silver Corp Q2 2022 MD&A and Zacatecas Silver November 2022 Presentation, the Zacatecas Silver Corp Nov 16 2022 Press Release titled: “Zacatecas Reports High-Grade Oxide Gold Mineral Resource Estimate at the Esperanza Gold Project” and "NI 43-101 Technical Report and Preliminary Economic Assessment, Cerro Jumil Project, Morelos Mexico” with an effective date of September 2011, prepared for Esperanza Resources Corporation Alamos Gold Inc.’s press release dated February 28, 2022. 22. Shanta Gold’s 2016 Sustainability Report, Shanta Gold’s Group Reserve & Resources Statement of April 3, 2024, Shanta Gold’s press release dated January 22, 2024, Shanta Gold's press release dated October 21, 2013 and New Luika Revised Mine Plan and Under- ground Feasibility Study dated March 23, 2017” 23. Highlander Silver press release dated November 30, 2023 and Highlander Silver April 2024 Presentation and "Technical Report for the San Luis Project Feasibility Study, Ancash Department, Peru”, with an effective date of June 4, 2010, prepared for Reliant Ventures S.A.C. and Silver Standard Resources Inc. 24. Warriedar Resources press release dated March 14, 2024 and Warriedar 2023 Annual Report and Anova Metals announcement dated November 15 2022, Veris Gold Corp.’s 2014 Annual Information Form, and Canova Metals Ltd.’s 2017 Annual ‎Report. 25. Agnico Eagle Mines press release dated June 20, 2023. 26. Barrick Gold Quarterly Report dated October 25, 2017, Barrick Gold September 19, 2019 Presentation Barrick Gold Corporation Q3 Conference Call November 1, 2012 and Barrick Gold Presentation dated February 15, 2023 and Technical Report on the Cortez Com- plex dated December 31, 2021 and Barrick’s 2023 Annual Report 27. Agnico Eagle Mines Fourth Quarter 2023 Press Release and Press Release dated February 15, 2024 and Press Release dated April 27, 2023 28. Contact Gold Corp Q3 MD&A, Contact Gold’s press releases dated January 31, 2024 and September 26, 2019 and February 2024 Presentation. 29. Taca Taca Project, Salta Province Argentina, Amended and Restated NI 43-101 Technical Report issued March 30, 2021 and First Quantum Minerals’ Q3 2023 MD&A and Q1 2024 MD&A. 56 Metalla Royalty & Streaming Ltd.

Notes And Sources 30. "Feasibility Study of the Re-Opening of the Aranzazu Mine, Zacatecas, Mexico with an effective date of January 31, 2018 and Aura Minerals’ 2023 Annual Information Form and Aura Minerals press release dated April 1, 2024 February 20, 2024 and July 18, 2023 31. “Vizcachitas Project Pre-Feasibility Study, Valparaiso Region, Chile, NI 43-101 Technical Report”, dated March 30, 2023, with an effective date of February 20, 2023, prepared for Los Andes. and the Los Andes Copper’s 2023 Annual Information Form and Los Andes Copper May 2024 Presentation. 32. “Preliminary Economic Assessment – Copper World, Pima County, Arizona USA” with an effective date of May 1, 2022, prepared for Hudbay Minerals, the “NI 43-101 Technical Report, Phase I Pre-Feasibility Study and Updated Mineral Resource Estimates, Copper World Project, Pima County, Arizona, USA” dated September 7, 2023, with an effective date of July 1, 2023, and the Hudbay Miner- als’ press releases dated September 8, 2023 and March 28, 2024. 33. Teck Resources 2023 Annual Information Form, Goldcorp. Inc’s and Teck’s news release dated August 27, 2015, and Teck’s 2018 Annual Report. 34. “Technical Report on the Dumont Ni Project, Launay and Trecesson Townships, Quebec, Canada” dated July 11, 2019, with an effective date of May 30, 2019, prepared for Royal Nickel Corporation and Royal Nickel Corporation’s news release dated May 30, 2019 35. Glencore Resources & Reserves Report 2023 36. “NI 43-101 Technical Report on the North Copper-Gold Project, Tatogga Property – Liard Mining Division, Northwest British Co- lumbia, Canada” dated August 20, 2020, with an effective date of July 6, 2020, prepared for GT Gold and Newmont’s news release dated May 14, 2023 Metalla Royalty & Streaming Ltd. 57

Foward Looking Statements This Asset Handbook contains forward-looking statements and forward-look- the distance of the pit boundary from the royalty boundary at Detour; the 2024 ing information (collectively, “forward-looking statements”) ‎within the meaning drill program at Green Springs and its focus thereof; the expected annual pro- of applicable securities legislation. ‎Often, but not always, forward-looking duction and mine life at Taca Taca; the receipt of ESIA for Taca Taca approval statements can be identi昀椀ed by the use of words such as "plans", "expects", and the timing thereof; the development decision regarding Taca Taca by First "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", Quantum and the timing thereof; the 2024 production guidance at Aranzazu; "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations the drilling at Aranzazu; the extension of the Glory Hole mineralization at (including negative variations) of such words and phrases or may be identi- Aranzazu; the expected mine life, production and cash cost at Vizcachitas; 昀椀ed by statements to the effect that certain actions "may", "could", "should", the completion of a feasibility study for Vizcachitas and the timing thereof; "would", "might" or "will" be taken, occur, or be achieved. Forward-looking the commencement of production at Vizcachitas and the timing thereof; the statements include, but are not limited to, the ability of Metalla to increase exploration plans at Copper World; the expected mine life, production and shareholder value; the ability of Metalla to reap the bene昀椀ts of its extensive cash costs at Copper World; the extension of the mine life at Copper World in royalty ‎portfolio; the future growth and success of Metalla; the commence- Phase II; the receipt of outstanding operating state permits for Copper World ment of production on mines on which Metalla holds ‎royalties and the timing and the timing thereof; Hudbay’s plans to initial a mining joint venture partner thereof; the increase of the resources attributable to Metalla’s existing roy- process for Copper World; the commencement of production at Copper World alties and streams ‎over the next ten years; that most of the gold, silver and and the timing thereof; the expected production at NuevaUnion; the focus of copper in Metalla’s portfolio will be mined ‎over the next ten years; the expect- the 2024 work on NuevaUnion; expected mine life, production and cash costs ed growth of production year-to-year; the management of access, cost, and at Dumont; the potential for unlocked gold and copper opportunities at Saddle ‎allocation of capital among Metalla’s investment opportunities; the maximiza- North; the expectations generally of Metalla the property owners/operators tion of returns to Metalla’s shareholders ‎over the long-term; the enhancement and the authors of relevant technical reports and studies with respect to the of Metalla’s pro昀椀le by the royalties acquired through the Nova transaction; mineral projects in which Metalla has an interest, including without limitation, that Metalla’s stock will enter a catch-up phase and will track closely with estimates of mineral resources and mineral reserves and updates thereto, Metalla’s business over the ‎long-term; the anticipated accelerated growth in production, mine life, NPV, IRR, costs, drilling, development, permitting, water Metalla’s gold equivalent production; ‎the ability of Metalla to become one of sourcing, commodity mix and prices, and the timing thereof;‎ ‎future opportuni- the leading gold and silver companies for the next commodities cycle; the es- ties and acquisitions; ‎future exploration, 昀椀nancing, development, production timates of GEOs and Metalla’s expectations regarding amount of GEOs to be and other anticipated developments on the properties in which the ‎Company received and the timing thereof; statements regarding Côté becoming one of has or has agreed to acquire an interest; ‎future growth, increased share Canada’s largest gold mines; the commencement of commercial production value, cash generation and returns; and Metalla having a path to becoming a at Côté and the timing thereof; the potential for the Gosselin deposit to reach leading gold and silver royalty company. similar dimensions and gold recoveries as the Côté deposit; the potential for the Gosselin deposit to support production levels beyond the 昀椀rst 6 years; the Forward-looking statements and information are based on forecasts of fu- possible inclusion of the Gosselin deposit into a future Côté Gold life-of-mine ture results, estimates of amounts not yet determinable and assumptions plan; the expected mine life and gold production at Tocantinzinho; the ex- that, while believed by management to be reasonable, are inherently subject pected amount of GEOs for Tocantinzinho; the commencement of production to signi昀椀cant business, economic and competitive uncertainties, and contin- at Tocantinzinho and the timing thereof; the expected production at Castle gencies. Forward-looking statements and information are subject to various Mountain; the beginning of Phase 2 at Castle Mountain and the timing thereof; known and unknown risks and uncertainties, many of which are beyond the the potential for Castle Mountain to become one of the USA’s largest gold ability of Metalla to control or predict, that may cause Metalla's actual results, mines; the expansion of the 2021 feasibility mineral reserve pits at Castle performance or achievements to be materially different from those expressed Mountain; the 2024 production guidance for Wharf; the planned activities at or implied thereby, and are developed based on assumptions about such Wharf; the expected extension of mine life of Wharf; the expected mine life risks, uncertainties and other factors set out herein, including but not limited and gold production at Wasamac; the studies regarding processing the Wasa- to: that Metalla will not be able to increase shareholder value; that Metalla will mac ores at the LaRonde or Canadian Malartic processing facilities and the not able to reap the bene昀椀ts of its extensive ‎royalty portfolio; that Metalla will timing thereof; the expected mine life and gold production at Endeavor; the not achieve the growth and success anticipated; that the production on mines use of the Macassa Near Surface Zone infrastructure to mine the AK deposit on ‎which Metalla holds royalties will not commence at the anticipated tim- and the timing thereof; the expected production and cash cost at AK; the pro- ing or at all; that the resources attributable to ‎Metalla’s existing royalties and duction guidance at Fosterville; the ramp up in mining in the Harrier Zone and streams will not increase at all or within the anticipated timeline; that most of the timing thereof; the potential heap leach operation and small mill facility at the gold, ‎silver and copper in Metalla’s portfolio will not be mined over the next Santa Gertrudis; the expected production and AISC at Santa Gertrudis; the ten years; that the production will not grow year-‎to-year; that Metalla will fail exploration drilling at La Encantada in 2024; the 2024 production guidance at to manage access, cost, and allocation of capital among Metalla’s investment La Encantada; the expected mine life and gold production at the Fifteen Mile ‎opportunities; that returns to Metalla’s shareholders will not be maximized Stream Project; the focus on the completion of the updated environmental over the long-term; that the royalties ‎acquired through the Nova transaction and social impact assessment for the Fifteen Mile Stream Project; the com- will not enhance Metalla’s pro昀椀le; that Metalla will fail to follow the same ‎busi- mencement of development of the Fifteen Mile Stream Project and the timing ness discipline in the future; that Metalla may pursue transactions that turn out thereof; the expected mine life and production at CentroGold; the exploration not to be accretive; that Metalla’s ‎stock will not catch-up and track closely with potential at ControlGold Contact and Blanket; the court decision concerning its business over the long-term; that Metalla’s gold equivalent production ‎will the request to remove the injunction regarding CentroGold; the expected mine not grow as anticipated; that production, prices and reserves and resources life, gold production and AISC at Garrison; the technical studies and mine on Metalla’s royalty properties will not ‎increase in the anticipated timing or at restart plan for La Parrilla and the timing thereof; the target date to restart all; ‎that Metalla will not become one of the leading gold and silver companies mining at La Parrilla; the restart strategy for La Guitarra; the mine restart study for the next commodities cycle; that the estimates of GEOs and Metalla’s and commencement of commercial production at La Guitarra and the timing expectations regarding amount of GEOs to be received and the timing there- thereof; the potential reprocessing of tailings at La Guitarra; the ongoing stud- of will not be accurate; that Côté will not become one of Canada’s largest ies at Lama; the development decision for Lama and the timing thereof; the gold mines; that commercial production at Côté will not start at all or in the expected mine life, gold production and AISC at La Fortuna; the 2024 produc- anticipated timing; that the Gosselin deposit will not have similar dimensions tion guidance for El Realito; the potential to mill the Chipriona and La India and gold recoveries as the Côté deposit; that the Gosselin deposit will not be sulphides at El Realito; the expected mine life, gold production and AISC at able to support production levels once Côté levels start to decrease; that the Esperanza; the minimum expenditures by Zacatecas at Esperanza; Metalla’s Gosselin deposit will not be included into a future Côté Gold life-of-mine plan; right of 昀椀rst refusal on future royalty and stream 昀椀nancing for the Esperanza that Tocantinzinho will not have the expected mine life and production; that project; the remaining targets for growth at San Luis; the planned veri昀椀cation Metalla will not receive the expected amount of GEOs for Tocantinzinho; that and update of the San Luis historical mineral resource estimate; the planned Castle Mountain will not have the expected production; that Phase 2 will not drilling at Big Springs; the potential mining and milling of the porphyry hosted start at Castle Mountain at all or in the expected timing; that Castle Mountain gold mineralization identi昀椀ed at Cam昀氀o; the testing in the second phase of will not become one of the USA’s largest gold mines; that the 2021 feasibility exploration drilling at Cam昀氀o; the commencement of commercial production mineral reserve pits at Castle Mountain will not be expanded at all or as an- at Anglo/Zeke and the timing thereof; the expected gold production at Anglo/ ticipated; that the 2024 production for Wharf will not meet the guidance; that Zeke; the mineral potential of the area known as Goldrush South on the Anglo/ the planned activities of Wharf will not be completed; that the life of mine of Zeke claims; the 2024 production forecast at Anglo/Zeke; the expected mine Wharf will not be extended; life and gold production at Detour; 58 Metalla Royalty & Streaming Ltd.

Foward Looking Statements that Wasamac will not have the expected mine life and production; the studies which Metalla holds a royalty, stream or other interest are located or through regarding processing the Wasamac ores will not be completed at all or in the which they are held; risks related to the operators of the properties in which anticipated timing; that Endeavor will not have the expected mine life and Metalla holds a royalty or stream or other interest, including changes in the production; that the Macassa Near Surface Zona structure will not be used ownership and control of such operators; risks related to global pandemics, to mine the AK deposit at all or in the timing thereof; that the 2024 production including the current novel coronavirus (COVID-19) global health pandemic, for Fosterville will not meet the guidance; that the mining in the Harrier Zone and the spread of other viruses or pathogens; will not ramp up at all or in the anticipated timing; that a heap leach operation in昀氀uence of macroeconomic developments; business opportunities that be- and small mill facility will not develop at Santa Gertrudis; that the exploration come available to, or are pursued by Metalla; reduced access to debt and drilling at La Encantada in 2024 will not occur at all or as planned; that the equity capital; litigation; title, permit or license disputes related to interests on 2024 production for La Encantada will not meet the guidance; that Fifteen any of the properties in which Metalla holds a royalty, stream or other interest; Mile Stream Project will not have the expected mine life and production; that the volatility of the stock market; competition; future sales or issuances of St. Barbara will not focus on completing the updated ESIA for the Fifteen Mile debt or equity securities; use of proceeds; dividend policy and future payment Stream Project; the development of the Fifteen Mile Stream Project will not of dividends; liquidity; market for securities; enforcement of civil judgments; commence at all or in the anticipated timing; that CentroGold will not have the and risks relating to Metalla potentially being a passive foreign investment expected mine life or production; that CentroGold Contact and Blanket will not company within the meaning of U.S. federal tax laws; and the other risks and achieve their mining potential; that the injunction regarding CentroGold will uncertainties disclosed under the heading “Risk Factors” in the Company’s not be removed; that Garrison will not have the expected mine life, production most recent annual information form, annual report on Form 40-F and other or AISC; that the technical studies and mine restart plan for La Parrilla will documents 昀椀led with or submitted to the Canadian securities regulatory au- not be completed at all or in the anticipated timing; that mining will not restart thorities on the SEDAR website at www.sedar.com and the U.S. Securities at La Parrilla at all or in the anticipated timing; that the restart strategy for La and Exchange Commission on the EDGAR website at www.sec.gov. Metal- Guitarra will not succeed; that the mine restart study for La Guitarra will not be la undertakes no obligation to update forward-looking information except completed at all or in the anticipated timing; that commercial production will as required by applicable law. Such forward-looking information represents not commence in La Guitarra at all or in the anticipated timing; that tailings will management's best judgment based on information currently available. No not be reprocessed at La Guitarra; that the studies at Lama will not be com- forward-looking statement can be guaranteed, and actual future results may pleted; that Barrick will not make a development decision on Lama at all or vary materially. Accordingly, readers are advised not to place undue reliance in the anticipated timing; that La Fortuna will not have the expected mine life, on forward-looking statements. production or AISC; that the 2024 production for El Realito will not meet the guidance; that the Chipriona and La India sulphides will not be milled; that Es- Any 昀椀nancial outlook or future-oriented 昀椀nancial information, as de昀椀ned by peranza will not have the expected mine life, production or AISC; that Zacate- applicable securities legislation, has been ‎approved ‎by management of Metal- cas will not spend the anticipated amount at Esperanza; that Metalla will not la as of the date hereof. Such 昀椀nancial outlook or future-oriented 昀椀nancial use its right of 昀椀rst refusal regarding the Esperanza project; the identi昀椀ed tar- ‎information is provided ‎for the purpose of providing information about man- gets at San Luis will not develop; the the San Luis historical mineral resource agement's current expectations and goals ‎relating to the future of Metalla. estimate will not be veri昀椀ed or updated; that the planned drilling program at Readers are cautioned that reliance on such information may not be appro- Big Springs will not occur; that the potential mineralization identi昀椀ed at Cam昀氀o priate for ‎other purposes.‎ will not be mined or milled; the testing at Cam昀氀o will not occur as anticipated; that commercial production will not commence at Anglo/Zeke at all or in the This Asset Handbook does not constitute an offer to sell securities of Metalla anticipated timing; that Anglo/Zeke will not have the expected production; that or a solicitation of offers to purchase securities of ‎‎Metalla. Such an offer or the Goldrush South area in the Anglo/Zeke claims will not achieve its mineral solicitation will only be conducted in accordance with applicable securities potential; ‎that the 2024 production at Anglo/Zeke will not meet the forecast; laws and ‎‎pursuant to an enforceable agreement of purchase and sale.‎ ‎that Detour will not have ‎the expected mine life or production; ‎that the dis- tance of the pit boundary from Metalla’s ‎royalty boundary at Detour is different from estimations; that the 2024 drill program at Green ‎Springs will not take place as anticipated or have the expected focus; that Taca Taca will not ‎have the expected mine life or production; that Taca Taca will not receive the ESIA approval ‎at all or in the anticipated timing; that First Quantum will not make a development decision ‎about Taca Taca at all or in the anticipated timing; that the 2024 production at Aranzazu will ‎not meet the forecast; that the drilling at Aranzazu will not occur as anticipated; that the ‎Glory Hole mineralization at Aranzazu will not be extended as expected; that Vizcachitas will ‎not have the expected mine life, production or cash cost; that a feasibility study for ‎Vizcachitas will not be completed at all or in the anticipated timing; that the production at ‎Vizcachitas will not commence at all or in the anticipated timing; the exploration plans at ‎Copper World will differ from expected;‎ that Copper World will not have the expected mine life, production or cash costs; that Phase ‎II will not extend the mine life at Copper World; that Hudbay will not receive the outstanding ‎operating state permits for Copper World at all or in the anticipated timing; that Hudbay will ‎not carry out its joint venture partner process for Copper World at all or in the anticipated ‎timing; that production at Copper World will not commence at all or in the anticipated timing; ‎that Metalla will not exercise its right of 昀椀rst refusal regarding Copper World; that the actual ‎production at NuevaUnion will differ from expectations; that work in Copper World will not ‎focus on establishing a cost-effective path forward for NuevaUnion; that Dumont will not ‎have the expected mine life, production or cash costs; that gold and copper opportunities ‎will not be unlocked at Saddle North;‎ ; the absence of control over mining operations from which Metalla will purchase precious metals or from which it will receive stream or royalty pay- ments and risks related to those mining operations, including risks related to international operations, government and environmental regulation, delays in mine construction and operations, actual results of mining and current explo- ration activities, conclusions of economic evaluations and changes in project parameters as plans are re昀椀ned; problems related to the ability to market pre- cious metals or other metals; industry conditions, including commodity price 昀氀uctuations, interest and exchange rate 昀氀uctuations; interpretation by govern- ment entities of tax laws or the implementation of new tax laws; regulatory, political or economic developments in any of the countries where properties in Metalla Royalty & Streaming Ltd. 59

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