The Metals Royalty Company Inc. Enters Into Definitive Agreement to Acquire a Royalty Interest on Mesabi Metallics Iron Ore Project in Minnesota

$132.5 Million Acquisition of an Index-Priced Production Royalty on One of the United States' Only Large-Scale Merchant DR-Grade Iron Ore Projects Transaction Highlights: $132.5 million cornerstone royalty acquisition - TMCR has entered into a definitive agreement to acquire a 1.0% Index-Priced Gross Overriding Production Royalty with a Revenue Floor (on production up to 8.5 Mtpa) on the Mesabi Metallics iron ore project in Minnesota, anticipated to be a fully integrated, large-scale source of high‑quality DR‑grade pellets critical to the global green steel transition and the advancement of American domestic steel production. Financing funds acquisition - Transaction financed via allocated $75 million PIPE, including $15 million of participation from founders and insiders, priced at $13.00 per share; and up to a $50 million acquisition credit facility term sheet for a senior secured term-loan credit facility.