Mr. Drew Clark reports

SUMMIT ROYALTIES PROMOTES KATHY LAI TO CHIEF FINANCIAL OFFICER

Summit Royalties Ltd. has promoted Kathy Lai to the roles of chief financial officer and corporate secretary, effective as of Nov. 1, 2026. Ms. Lai succeeds Robert Doyle, who had served as Summit's chief financial officer and corporate secretary since its go-public transaction in November, 2025.

Ms. Lai joined Summit as vice-president, finance, on July 3, 2026, following Summit's acquisition of Star Royalties Ltd., where she previously served as vice-president, finance. Ms. Lai brings over 20 years of experience in financial planning and analysis, financial reporting, and corporate finance, with a background supporting finance functions across public and private companies.

Mr. Doyle has stepped down as chief financial officer and corporate secretary, and will remain with Summit through December, 2026, to support an orderly transition. During his tenure, Mr. Doyle guided Summit through its go-public transaction and its transition to a publicly listed company, including its listing on the TSX Venture Exchange, and supported the corporation through a period of significant growth, including the acquisition of Star. The board of directors and management of Summit thank Mr. Doyle for his dedication and valuable contributions to the corporation and wish him continued success.

Drew Clark, president and chief executive officer of Summit, commented: "On behalf of the board and the entire Summit team, I want to sincerely thank Robert for his many contributions to Summit. Robert's experience and steady leadership were instrumental as we completed our go-public transaction and made the transition to a public company, and he helped lay the financial foundation that has supported our growth since. We are grateful that he will continue to support the transition through the end of the year. I am also delighted to welcome Kathy to our management team as chief financial officer and corporate secretary. Kathy brings deep financial expertise and has already made a meaningful impact since joining us from Star, and I am confident she is the right person to carry this role forward as we continue to execute on our strategy of disciplined, accretive growth."

Other corporate update

Further to the news release dated Oct. 8, 2026, entitled "Summit Royalties Announces Marketing and Investor Relations Agreements," the corporation provides an update on its investor relations agreement with 15605237 Canada Inc. (doing business as DK Capital Partners). As DKCP has completed at least 50 per cent of the meetings contemplated under the DKCP agreement, the corporation has paid DKCP the remaining $7,500 of the $30,000 cash fee payable under the DKCP agreement, plus applicable taxes. The corporation further clarifies that, if the DKCP agreement is renewed following its initial four-month term, DKCP will receive a monthly fee of $8,500, plus applicable taxes, for the duration of the renewal period.

About Summit Royalties Ltd.

Summit Royalties is a precious metal royalty and streaming company. Its current portfolio is anchored by cash-flowing production with additional royalties on advanced development- and exploration-stage properties. Summit intends to become the fastest-growing royalty and streaming company by executing actionable, accretive acquisitions that increase production and drive cash flow growth.

We seek Safe Harbor.