Disclaimer The Fourth Major Gold Royalty Company Is Being Built Right Now

This content is sponsored by Versamet Royalties Corp. Katusa Research has received cash compensation from Versamet Royalties Corp. in the amount of one million three hundred thousand dollars ($1,300,000) for the preparation and dissemination of this content.

Katusa Research is extremely biased. Katusa Research, its owners, directors, and employees may directly or indirectly own shares of Versamet Royalties Corp. Measures are in place such that no shares will be sold during the active marketing awareness campaign.

Katusa Research, as a publisher, is not a broker, investment advisor, or financial advisor in any jurisdiction, and is not registered as a dealer or adviser under any applicable Canadian provincial securities legislation. The information provided is for informational purposes only and does not constitute a recommendation to buy, sell, or hold any security.

Pursuant to Section 17(b) of the Securities Act of 1933, the publisher has received compensation from Versamet Royalties Corp. for the distribution of this promotional material. The specific compensation amount is available upon written request to New Era Publishing Inc.

This publication contains forward-looking statements. See the Forward-Looking Statements disclaimer in the footer below.

Non-IFRS Measures

Katusa Research's marketing materials for Versamet Royalties refer to certain non-IFRS measures, including (i) Attributable Gold Equivalent Ounces, (ii) average cash cost per Attributable Gold Equivalent Ounce, (iii) average cash cost margin, (iv) cash flows from operating activities before working capital changes, (v) cash flows from operating activities before working capital changes per share, (vi) EBITDA, and (vii) Adjusted EBITDA (the "Non-IFRS Measures"). The Non-IFRS Measures are not standard measures under IFRS and the Company's method of calculating the Non-IFRS Measures may differ from the methods used by other issuers. Therefore, the Company's Non-IFRS Measures may not be comparable to similar measures presented by other issuers. Please refer to Versamet's Management's Discussion and Analysis for the year ended 2025 for more details on non-IFRS measures, available on Versamet's profile on SEDAR+, on EDGAR, and on Versamet's website.

Disclosures and Disclaimers

Important: High-Risk Investment

Investing in mining stocks involves a high degree of risk. You could lose your entire investment.

Paid Sponsorship

This content is sponsored by Versamet Royalties Corporation (“Versamet Royalties”). Katusa Research has received cash compensation from Versamet Royalties for the preparation and dissemination of this content. Katusa Research is extremely biased.

Katusa Research, its owners, directors, and employees may directly or indirectly own shares of Versamet Royalties. Measures are in place such that no shares will be sold during the active marketing awareness campaign.

Not Investment Advice

Katusa Research, as a publisher, is not a broker, investment advisor, or financial advisor in any jurisdiction. The information provided is for informational purposes only and does not constitute a recommendation to buy, sell, or hold any security.

Please do not rely on the information presented as personal investment advice. If you need personal investment advice, please consult a qualified and registered broker, investment advisor, or financial advisor.

Forward-Looking Statements

This content contains forward-looking statements that involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those anticipated. Such factors include those set out under the heading “Risk Factors” in the Versamet Royalties’ final non-offering long form prospectus dated May 12, 2025 and short form base shelf prospectus dated August 1, 2025, both available for review on the Versamet Royalties’ profile at www.sedarplus.ca, as well as the Company’s Form 20-F filed with the SEC on March 4, 2026, available for review on the Company’s profile at www.sec.gov/edgar.

There can be no assurance that any forward-looking statements will prove to be accurate. Readers should not place undue reliance on forward-looking information. Neither Katusa Research nor Versamet Royalties undertakes any obligation to update forward-looking statements except as required by law.

Mineral Resource Disclaimer

Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the mineral resources will be converted into mineral reserves. Inferred mineral resources have a lower level of confidence than Indicated mineral resources and must not be converted to mineral reserves. Investors are cautioned not to assume that all or any part of an inferred mineral resource is economically or legally mineable.

The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant factors.

Past Performance Disclaimer

Past performance is not indicative of future results. Historical returns, including those referenced in this content, should not be taken as an indicator or predictor of future stock prices. The value of investments can go down as well as up, and investors may lose their entire investment.

Do Your Own Due Diligence

Before making any investment decision, readers should review Versamet Royalties’ public filings available at www.sedarplus.ca (for Canadian filings) and www.sec.gov (for U.S. filings), including annual information forms, technical reports, and financial statements.

Information in this content regarding Versamet Royalties has been derived from its SEDAR+ and SEC filings.