Mr. Michael Pettingell reports

INDEPENDENT PROXY ADVISORY FIRMS RECOMMEND SHAREHOLDERS VOTE "FOR" THE PROPOSED PLAN OF ARRANGEMENT WITH ELEMENTAL ROYALTY

Independent proxy advisory firms, including Institutional Shareholder Services, have recommended shareholders vote for the proposed plan of arrangement involving Vizsla Royalties Corp. and Elemental Royalty Corp. ISS is an independent proxy advisory firm with approximately 3,400 clients, including many of the world's leading institutional investors who rely on ISS' objective and impartial analysis to make important voting decisions.

The special meeting of shareholders of Vizsla Royalties to approve the proposed plan of arrangement with Elemental Royalty is scheduled for July 10, 2026. Under the plan of arrangement, each shareholder of Vizsla Royalties is entitled to elect to receive, in respect of all, but not less than all, of such holder's common shares held: (i) $4.13 in cash; (ii) 0.15 of an Elemental common share; or (iii) $1.03 in cash and 0.1125 of an Elemental common share, subject to the maximum aggregate cash consideration available under the arrangement and the proration provisions described in the information circular.

Independent third party proxy advisory recommendations

ISS stated: "Vote for this resolution. The strategic rationale is sound, and shareholders are being offered cash and stock (subject to proration) at a premium. Shareholders who elect to receive stock are expected to benefit from a more diversified, scaled entity, with increased liquidity, a strong financial position and further rerating opportunity."

Vizsla Royalties chief executive officer Michael Pettingell commented: "We wish to thank all of the shareholders that have voted. The company's focus is to create value for shareholders and provide long-term exposure to the world's largest, high-grade silver primary resource at Panuco, and this arrangement achieves that. The recommendations from the advisory firms to vote for the arrangement also confirms that this is a strategic benefit for shareholders.

"We appreciate the support the shareholders have provided to us over the past few years and encourage any shareholder that hasn't voted to vote before the deadline of July 8."

Shareholders encouraged to vote ahead of the proxy deadline

The board of directors of Vizsla Royalties recommends that shareholders vote for the arrangement resolution.

The proxy voting deadline is 10 a.m. Vancouver time on July 8, 2026. Shareholders are encouraged to vote well in advance of the proxy voting deadline to ensure your vote is submitted in a timely manner. Voting is easy. Shareholders may vote on-line, by telephone, or by any other methods provided in the form of proxy or voting instruction form included as part of the mailing.

Shareholders of record as of the close of business on May 29, 2026, are eligible to vote at the meeting.

Election deadline

Vizsla Royalties also reminds shareholders to submit their elections in respect of the consideration to be received pursuant to the arrangement. To be valid, registered shareholders must submit their elections to Computershare Investor Services Inc., which is acting as depositary in connection with the arrangement, by Wednesday, July 8, 2026, at 5 p.m. Vancouver time.

Failure to complete and return a letter of transmittal and election form prior to the election deadline will result in a deemed election by such shareholder to receive the share consideration, subject to rounding.

The letter of transmittal and election form are for use by registered shareholders only. Non-registered shareholders should contact their intermediary regarding the arrangement with respect to their shares to provide instructions to their broker or other nominee to complete the letter of transmittal and election form to make their election and receive the consideration pursuant to the arrangement in exchange for their shares. The intermediary may establish earlier deadlines for making elections.

Shareholder questions and voting assistance

Shareholders with questions or who require voting assistance may contact the company's proxy solicitation agent, Laurel Hill Advisory Group.

North America toll-free:  1-877-452-7184

Outside of North America:  1-416-304-0211

Text message:  text INFO to 416-304-0211 or 1-877-452-7184

E-mail:  assistance@laurelhill.com

About Vizsla Royalties Corp.

Vizsla Royalties is a precious-metal-focused royalty company. The company's principal asset is a net smelter return royalty on Vizsla Silver's flagship Panuco project located in Mexico. Panuco is a world-class silver and gold development project actively advancing toward production.

We seek Safe Harbor.