Mr. James Estey reports

PRAIRIESKY ANNOUNCES RESULTS OF THE ANNUAL MEETING OF SHAREHOLDERS AND ELECTION OF DIRECTORS

PrairieSky Royalty Ltd.'s shareholders approved all resolutions at the annual meeting of shareholders of the company held on April 18, 2023, in Calgary, Alta. The resolutions approved at the meeting were as follows:

The resolution to appoint the eight nominees as directors of the company to serve until the next annual meeting of shareholders of the company, or until their successors are elected or appointed, was passed by way of ballot and each of the directors received the following votes for their election.

The resolution to appoint KPMG LLP as the company's auditor was approved with 210,050,490 (99.936 per cent) of the shares represented at the meeting voting in favour of the resolution.

The resolution to accept the company's approach to executive compensation was approved with 192,778,595 (92.841 per cent) of the shares represented at the meeting voting in favour of the resolution.

The report on voting for the meeting will be available at SEDAR and on the company's website.

About PrairieSky Royalty Ltd.

PrairieSky is a royalty-focused company, generating royalty revenues as petroleum and natural gas are produced from its properties. PrairieSky has a diverse portfolio of properties that have a long history of generating funds from operations and that represent the largest and most concentrated independently owned fee simple mineral title position in Canada. PrairieSky's common shares trade on the Toronto Stock Exchange under the symbol PSK.