Mr. Paolo Lostritto reports

SAILFISH ANNOUNCES SALE OF SPRING VALLEY AND MOONLIGHT ROYALTIES TO OR ROYALTIES INC. FOR US$168 MILLION; ANNOUNCES A TRIPLING OF SAILFISH'S ANNUAL DIVIDEND

Sailfish Royalty Corp. has entered into a share purchase agreement on Feb. 23, 2026, with OR Royalties Inc. pursuant to which the company has agreed to sell to OR Royalties all of the issued and outstanding shares of Terraco Gold Corp., a wholly owned subsidiary of Sailfish, for after-tax cash consideration of $168-million (U.S.), payable on closing of the transaction.

Terraco Gold, through its subsidiaries TGC Holdings Ltd. and Terraco Royalties USA, Inc., holds:

• An up to 3-per-cent net smelter return royalty on Solidus Resources' Spring Valley gold project in Pershing county, Nevada, United States;
• A 2-per-cent net smelter return royalty on Solidus Resources' Moonlight property in Nevada, U.S., and together with the Spring Valley royalty.

As the transaction will be a disposition of more than 50 per cent of the company's assets, it constitutes a reviewable transaction pursuant to TSX Venture Exchange Policy 5.3 and is subject to customary closing conditions, including acceptance by the TSX-V and approval by the company's shareholders. The company has already received the requisite shareholder approval by way of written consent of certain of its shareholders.

In connection with the transaction, National Bank Financial Inc. acted as a financial adviser to the company. INFOR Financial Group acted as a strategic adviser to the company.

Akiba Leisman, executive chairman of Sailfish Royalty, states: "Sailfish is pleased to announce the sale of the royalties associated with the Spring Valley and Moonlight projects in Nevada for $168-million (U.S.) in cash, after tax. This is approximately 5.4 times the purchase price we paid in August, 2019, which generated an IRR of approximately 29 per cent. Sailfish expects to redeploy this capital in high-returning investments in the mining industry, with a particular focus on precious metals streams and royalties, to support our strong dividend policy. To that effect, Sailfish is tripling our annual dividend to 15 U.S. cents per share, from the five U.S. cents per share it has paid since 2021. The new dividend is expected to be covered, by a considerable margin, from Sailfish's remaining royalty and stream portfolio. New investments are anticipated to be made to not only sustain, but to grow this dividend significantly in the future."

Dividend increase

The company is pleased to announce that the board of directors have approved a dividend policy increase for the company under which the company intends to pay quarterly dividends of 3.75 U.S. cents per common share starting in Q1 2026. The first quarterly dividend of 3.75 U.S. cents per common share will be payable on July 15, 2026, to Sailfish shareholders of record as of the close of business on March 31, 2026.

About Sailfish Royalty Corp.

Sailfish is a precious metals royalty and streaming company. Within Sailfish's portfolio are three main assets in the Americas: a gold stream equivalent to a 3-per-cent NSR on the San Albino gold mine (approximately 3.5 square kilometres) and a 2-per-cent NSR on the rest of the area (approximately 134.5 square km) surrounding San Albino in northern Nicaragua; an up to 3-per-cent NSR on the fully permitted multimillion ounce Spring Valley gold mine project in Pershing county, Nevada; and a 2-per-cent NSR on the Gavilanes silver project located in Durango state, Mexico. In addition, Sailfish is in the process of securing an 11-year gold stream as announced on Feb. 17, 2026.

Sailfish is listed on the TSX Venture Exchange under the symbol FISH and on the OTCQB under the symbol SROYF.

We seek Safe Harbor.