Mr. Andrew Phllips reports

PRAIRIESKY ANNOUNCES RELEASE OF 2022 SUSTAINABILITY REPORT

PrairieSky Royalty Ltd. has released its 2022 sustainability report. The report highlights PrairieSky's sustainability initiatives and key performance metrics.

"Promoting best practices in governance, social responsibility and environmental stewardship is a priority for management and the board. Our sustainability report outlines how we incorporate these practices into our day-to-day work and our business strategy for the future," said PrairieSky chief executive officer Andrew Phillips.

PrairieSky includes comprehensive environmental, social and governance disclosures in its annual sustainability report and other information contained on its website. The sustainability report includes disclosures aligned with applicable standards and metrics under the Global Reporting Initiative (GRI), the Sustainability Accounting Standards Board (SASB), the World Economic Forum (WEF) and the Task Force on Climate-Related Financial Disclosures (TCFD). Key environmental data, greenhouse gas emissions and other key performance indicators have been independently verified by a third party. The independent third party assurance statement for 2022 is also available on PrairieSky'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.