Gold Royalty Corp to Host Pedra Branca Acquisition Conference Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Heiko Ihle - H.C. Wainwright & Co. - Analyst : Hey, David and team, thanks so much for taking my questions. LSEG STREETEVENTS | www.lseg.com | Contact Us consent of LSEG. 'LSEG' and the LSEG logo are registered trademarks of LSEG and its affiliated companies. DECEMBER 11, 2025 / 3:00PM, GROY.A - Gold Royalty Corp to Host Pedra Branca Acquisition Conference Call

Question: Heiko Ihle - H.C. Wainwright & Co. - Analyst : Okay. You mentioned that the deal was meaningfully oversubscribed and obviously, you increased the size as it went along. I mean just thinking out loud, should we expect more large-scale deals like this? I mean you sort of hinted at it in the last sentence of your prepared remarks. I mean the market interest is clearly there. And then building on all of that, can you walk us a bit through the bidding process, how competitive was it? And were there any people that maybe joined the bidding that we wouldn't know about like names I haven't heard before besides the obvious ones?

Question: Heiko Ihle - H.C. Wainwright & Co. - Analyst : Got it. And speaking of other opportunities, and I'm not too familiar with the site, so bear with me if this question is a little out there. The other deposits that were talked about earlier in the prepared remarks that you don't have the royalty on, is there maybe an interest in creating a royalty package for them? And if so, and I guess that's the real question, do you have a ROFR on the rest of the site?

Question: Heiko Ihle - H.C. Wainwright & Co. - Analyst : Perfect, I'll get back in queue, and apologize for the background noise. I'm traveling, as you can probably hear. All the best. Thank you. Happy holidays.