Updated Early Warning Press Release Regarding Acquisition of Common Shares in Gold Royalty Corp.

/NOT FOR DISTRIBUTION TO US NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

SAN SALVADOR, Republic of El Salvador, March 30, 2026 /CNW/ - Tether International, S.A. de C.V. (the "Acquiror") provides the following update pursuant to the early warning requirements of Canadian securities laws regarding common shares (the "Common Shares") of Gold Royalty Corp. (the "Issuer"). The Acquiror has concurrently or will shortly be filing a Canadian early warning report (the "Early Warning Report") on the Issuer's SEDAR+ profile at www.sedarplus.ca.

On March 24, 2026, the Acquiror acquired ownership and control over the 30,300,000 Common Shares owned by its affiliate Tether Investments, S.A. de C.V. ("Tether Investments") in an internal transfer, valued at Tether Investment's original acquisition cost. Immediately prior to this transfer, the Acquiror owned no Common Shares. Immediately following this transfer, Tether Investments ceased to own any Common Shares, and the 30,300,000 Common Shares acquired by the Acquiror represented approximately 13.13% of the issued and outstanding Common Shares (based on 230,792,200 Common Shares issued and outstanding as at March 18, 2026, as reported in the Issuer's most recent management's discussion and analysis dated as of the same date in respect of the financial year ended December 31, 2025).

The Common Shares described in this press release were acquired for investment purposes. Depending on market conditions, general economic and industry conditions, the Issuer's business and financial condition and/or other relevant factors, the Acquiror may, from time to time, acquire additional Common Shares or other securities of the Issuer through market transactions, private agreements, treasury issuances or otherwise, or dispose of all or some of its Common Shares or other securities of the Issuer, in each case, subject to applicable laws.

In addition, the Acquiror may consider its rights and options as a significant security holder of the Issuer (which may result in the Acquiror developing plans or intentions in the future with respect to the matters listed in clauses (a) through (k) of Item 5 of the Early Warning Report), including without limitation: engaging with the Issuer's board and management, communicating with other securityholders, voting its securities in accordance with its interests, and/or making proposals to the Issuer concerning changes to its capitalization, ownership structure and/or operations, in each case, subject to applicable laws.

The head office of the Issuer is disclosed on its SEDAR+ profile as being located at Suite 1830, 1188 West Georgia St., Vancouver, British Columbia V6E 4A2.

About Tether International, S.A. de C.V.

The Acquiror is a corporation existing under the laws of the Republic of El Salvador. The principal business of the Acquiror is as a private investment firm.

The head office address of the Acquiror is Final Av. La Revolucion, Colonia San Benito, Edif. Centro, Corporativo, Presidente Plaza, Nivel 12, Oficina 2, Distrito de San Salvador, Municipality of San Salvador Centro, Republic of El Salvador.

The Acquiror will send a copy of its Early Warning Report relating to this announcement promptly to any person requesting it.

SOURCE Tether Investments S.A. de C.V.

For further information, please contact: Name: Stephenie Vasco, Communications and PR Services VP, Tether, Telephone number: 4420 4621 1793, Email: [email protected]