<div id="readability-page-1"><div>Toronto, Ontario--(Newsfile Corp. - November 6, 2025) - Royalties Inc. (OTCID: ROYIF) (or &#34;the Company&#34;) Minera Portree de Zacatecas S.A. de C.V. (&#34;MPZ&#34;), a company in which Royalties Inc. holds an 88% ownership stake, is proud to announce a positive outcome from the Civil Chamber of the Superior Tribunal of Justice of Zacatecas, Mexico. In its November 4, 2025 decision (Appeal TOCA A.C. 77/2025), the Appellate Court upheld and confirmed the first-instance ruling in its favor. The appellate decision upholds the company's entitlement to royalties stemming from a January 11, 2002, mining contract and rejects the appeals filed by defendants Raúl González Anaya, Capstone Gold S.A. de C.V., and third-party Gerardo González García.In the original ordinary commercial trial (case number 411/2022), initiated by Luis Emilio Villanueva, Sole Administrator and General Attorney-in-Fact of Minera Portree, the Third Commercial Court of the Judicial District of the Capital ruled on June 16, 2025, that the defendants had improperly transferred and exploited royalties without authorization. The court found that Raúl González Anaya exceeded his granted powers under a May 20, 2010, legal act, which was declared nonexistent, leading to the unauthorized sale of royalties belonging to Minera Portree.The Appellate Court, in its unanimous decision (TOCA A.C. 771/2025), deemed the appellants' arguments inoperative and inadmissible, affirming that the core issues of royalty recognition and payment were not effectively challenged. The ruling requires Raúl González Anaya, Gerardo González García, and Capstone Gold S.A. de C.V. (a fully owned subsidiary of Capstone Copper Corp. &#34;Capstone&#34;) to cover all procedural expenses and costs from both instances, in accordance with Article 1084 of the Federal Commercial Code of Mexico.Key Highlights from the Ruling:<ul><li>Confirmation of First-Instance Decision: The Appellate Court fully upheld the June 16, 2025, ruling, confirming Minera Portree's rights to royalties from the 2002 contract and declaring the 2019 transfer act nonexistent.</li><li>Rejection of Appeals: Appellants' grievances were dismissed as they failed to address core issues like royalty entitlement, focusing instead on unrelated matters such as mining exploitation details.</li><li>Unauthorized Transfer Finding: Raúl González Anaya was determined to have sold royalties without proper authorization, exceeding his powers and effectively dealing in another's property.</li><li>Legal Cost Re-imbursement: Defendants and the third party are ordered to pay all expenses and costs for both court instances, to be regulated during sentence execution.</li><li>Case Closure: The matter is archived as legally concluded, with notifications issued and files returned to the originating court.</li></ul>The decision marks the conclusion of the appellate process, with certified copies to be returned to the originating court and the case archived as resolved.&#34;We are pleased the Mexico courts have logically concluded that the 2% NSR could not be transferred to Capstone without proper authorization from and payment to MPZ. We are looking forward to Capstone's co-operation in properly calculating the amount owed on production to date and the future value of the 2% NSR on all five Portree/Parroquia claims,&#34; stated Tim Gallagher, CEO.About Royalties Inc.<ul><li>Royalties Inc. owns a 100% interest, subject to a 1.5% NSR owned as a separate asset, on the Bilbao silver-zinc-lead project located in the State of Zacatecas, Mexico.</li><li>Royalties Inc. owns 88% of the outstanding shares of Minera Portree de Zacatecas, S.A. de C.V (&#34;MPZ&#34;) which holds an asserted claim (backed by a court approved lien) to a 2% net smelter royalty established in 2002 on five mining concessions called the 'Portree claims', a portion of which is on the Mala Noche Footwall Zone, the main source of production at the Cozamin mine where Capstone Copper Corp. (&#34;Capstone&#34;) has been mining since 2010. Capstone assigned this royalty to themselves without the knowledge of or proper payment to MPZ, the longstanding and rightful owner, in 2017 and 2019. MPZ filed civil and criminal lawsuits in Zacatecas in 2021 to invalidate the contract to transfer ownership.</li><li>Royalties Inc. has a 4.9% stake in Music Royalties Inc. (&#34;MRI&#34;), which has acquired 31 cash-flowing catalogs and paid out over $12 million in dividends since 2019 from 31 cash-flowing catalogs generating a 7.2% annual yield.</li></ul>For further information contact Royalties Inc. at www.royaltiesinc.com.<ul><li>Tim GallagherCEO &amp; Director(416) 925‐0090 </li><li>Connor GallagherInvestor Relations(647) 921-2206 </li><li>Andrew RobertsonDirector(416) 317-0137 </li></ul>Neither the CSE, nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this press release.Forward-Looking StatementsThis news release contains &#34;forward-looking information&#34; within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as &#34;may&#34;, &#34;will&#34;, &#34;expect&#34;, &#34;likely&#34;, &#34;should&#34;, &#34;would&#34;, &#34;plan&#34;, &#34;anticipate&#34;, &#34;intend&#34;, &#34;potential&#34;, &#34;proposed&#34;, &#34;estimate&#34;, &#34;believe&#34; or the negative of those terms, or other similar words, expressions, and grammatical variations thereof, or statements that certain events or conditions &#34;may&#34; or &#34;will&#34; happen, or by discussions of strategy. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is based on assumptions made in good faith and believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to: sufficient capital and financing required in order to fulfill the Company's business plans and strategy may not be obtained as expected; that the Company will not be able to pay future dividends; and other risks related to the Company as disclosed in the documents filed on the Company's profile at SEDAR+ at www.SEDARplus.ca. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements contained in this press release and they are expressly qualified in their entirety by this cautionary statement. The forward-looking statements herein are made as at the date hereof and are based on the beliefs, estimates, expectations, and opinions of management on such date. The Company does not undertake any obligation to update publicly or revise any such forward-looking statements whether as a result of new information, future events or to explain any material difference between subsequent actual events and such forward-looking information, except as required under applicable securities law.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/273496</div></div>

RMCO

Royalties Inc. has secured a victory in the Appellate Court of Zacatecas, Mexico, confirming its entitlement to royalties from a 2002 mining contract. The court dismissed appeals from Capstone Gold and others, ruling that royalties were improperly transferred without authorization. The defendants are ordered to pay all legal costs. CEO Tim Gallagher expressed satisfaction with the ruling, emphasizing the need for Capstone's cooperation in calculating owed amounts. This decision concludes the appellate process, affirming Royalties Inc.'s rights over the 2% net smelter royalty on the Portree claims.

Royalties Inc. Secures Victory in Appellate Court, Confirming Royalty Rights and Capstone Ordered to Pay Legal Costs