Electric Royalties Ltd. announced that it has purchased an additional 0.5% Gross Revenue Royalty ("GRR") on the Bissett Creek graphite project in Ontario, Canada (the "Project" or "Bissett Creek"), operated by Northern Graphite Corporationin exchange for a cash payment of CAD 950,000. Together with its existing 1% GRR on Bissett Creek, Electric Royalties now holds a 1.5% GRR onBissett Creek. In connection with the purchase of the additional GRR, the Company has entered into an amended and restated royalty agreement with Northern Graphite on September 27, 2023.

The Credit Facility is a "related party transaction" within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Credit Facility is exempt from the valuation requirement of MI 61-101 by virtue of the exemption contained in section 5.5(b) as the Company's common shares are not listed on a specified market and from the minority shareholder approval requirements of MI 61-101 by virtue of the exemption contained in Section 5.7(a) of MI 61-101 in that the fair market value of Credit Facility does not exceed 25% of the Company's market capitalization.