Inaugural Revenue Received under Gold Offtake Streams

Trident Royalties Plc (AIM:TRR), the growth-focused mining royalty and streaming company, is pleased to announce that following the completion of the acquisition of producing gold offtake streams (the “Portfolio”) announced on 11 January 2022, Trident has generated its inaugural cash flow under the streams.

Trident acquired 1,858 ounces of gold and subsequently sold for a margin of $30.68/oz, resulting in total cash flow of $57,001 and a NSR equivalent margin of 1.69%* for the batch, well in excess of Trident’s long term base case assumption on acquisition of the Portfolio.

Going forward, Trident will update shareholders of cumulative cash flow generated under the offtakes in the Company’s quarterly activities announcements.

Adam Davidson, Chief Executive Officer of Trident commented:

“It is pleasing to note that deliveries to Trident under the contracts have now commenced, with this delivery being the first of multiple deliveries and regular sales expected to occur on a weekly basis going forward.

“The acquisition of the Portfolio provides Trident with immediate revenue, underpinned by a portfolio of high-quality producing gold projects which significantly enhance the scale and diversification of Trident’s revenue base. Trident is well positioned for future growth with nine cash flowing assets complementing our portfolio of advanced and development stage royalties, most notably the Thacker Pass lithium royalty. The combination of increased cashflow and our newly established debt facility, provide Trident with ample access to capital to pursue additional accretive transactions without the near-term requirement to access equity markets.”

Notes

* Margin of $30.67/oz divided by realised gold sales price of $1,820/oz

CEO Adam Davidson provides an overview of the business and its strategy below (Filmed May 2021)