2025 - Annual Information Form Download

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# 2025 - Annual Information Form Download

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# 2025 - Annual Information Form Download
ANNUAL INFORMATION FORM
FOR THE PERIOD FROM INCORPORATION
ON JULY 14, 2025 TO DECEMBER 31, 2025
DATED MARCH 23, 2026
TABLE OF CONTENTS
Page No.
INTRODUCTION........................................................................................................................................... 2
FINANCIAL INFORMATION ......................................................................................................................... 2
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION ................................. 3
CAUTIONARY NOTE REGARDING PRESENTATION OF MINERAL RESOURCE ESTIMATES ............. 6
WEBSITES, TECHNICAL AND THIRD PARTY INFORMATION ................................................................. 7
ABOUT LUNR ROYALTIES.......................................................................................................................... 9
GENERAL DEVELOPMENT OF THE BUSINESS ..................................................................................... 10
DESCRIPTION OF THE BUSINESS .......................................................................................................... 13
RISK FACTORS.......................................................................................................................................... 19
MINERAL PROPERTIES ............................................................................................................................ 30
DIVIDENDS................................................................................................................................................. 48
CAPITAL STRUCTURE .............................................................................................................................. 48
DIRECTORS AND OFFICERS ................................................................................................................... 49
PROMOTERS ............................................................................................................................................. 52
LEGAL PROCEEDINGS AND REGULATORY ACTIONS ......................................................................... 52
AUDIT COMMITTEE................................................................................................................................... 53
INTEREST OF MANAGEMENT AND OTHERS IN MATERIAL TRANSACTIONS.................................... 54
TRANSFER AGENT AND REGISTRAR..................................................................................................... 55
MATERIAL CONTRACTS........................................................................................................................... 55
NAMES AND INTERESTS OF EXPERTS.................................................................................................. 55
ADDITIONAL INFORMATION .................................................................................................................... 56
SCHEDULE A AUDIT COMMITTEE CHARTER ........................................................................................ 57
Annual Information Form 2025 1
INTRODUCTION
This annual information form (“AIF”) provides important information about LunR Royalties Corp. (“LunR” or the
“Corporation”).
This AIF has been prepared in accordance with Canadian securities laws and describes the Corporation’s history and its
business, including the Corporation’s royalty and Stream (as defined herein) interests, the risks the Corporation faces, the
market for the common shares in the capital of the Corporation (the “Common Shares”) and its governance, amongst
other matters concerning the Corporation’s business.
This AIF is dated as of March 23, 2026. Unless otherwise indicated, all information in this AIF is as of December 31, 2025.
With respect to financial information, readers should refer to LunR’s audited financial statements for the period from
incorporation on July 14, 2025 to December 31, 2025 and to LunR’s management’s discussion and analysis (“MD&A”) for
the period from incorporation on July 14, 2025 to December 31, 2025 (the “2025 Annual MD&A”), each of which are
available under the Corporation’s issuer profile on SEDAR+ at www.sedarplus.ca (“SEDAR+”) for complete information,
as the information in this AIF has been selectively drawn therefrom and may not be complete.
FINANCIAL INFORMATION
Financial information is presented in accordance with International Financial Reporting Standards as issued by the
International Accounting Standards Board (IFRS Accounting Standards).
While the functional currency of the Corporation is the Canadian dollar (“C$”), the Corporation reports its financial results
and prepares its financial statements in United States dollars (as used herein, “$” or “US$”). All currency amounts in this
AIF are expressed in United States dollars, unless otherwise indicated. The closing exchange rate for one Canadian dollar
in terms of United States dollars, as quoted by the Bank of Canada as of December 31, 2025, was:
Bank of Canada exchange
rate for C$/US$ as of US$0.7296
December 31, 2025
The rate of exchange as set forth in the table above is based on the indicative rate of exchange for the Canadian dollar,
as reported by the Bank of Canada, expressed in United States dollars, in effect at the end of the relevant period.
In this AIF, all units are International System of Units metric unless otherwise noted. Conversion rates from imperial
measures to metric units and from metric units to imperial measures are provided in the table set out below.
Imperial Measure = Metric Unit Metric Unit = Imperial
Measure
2.47 acres 1 hectare (“ha”) 0.4047 ha 1 acre
3.28 feet 1 metre (“m”) 0.3048 m 1 foot
0.62 miles 1 kilometre (“km”) 1.609 km 1 mile
2.2 pounds (“lbs”) 1 kilogram (“kg”) 0.454 kg 1 lb
0.032 ounces (“oz”) (troy) 1 gram (“g”) 31.1 g 1 oz
2,204.60 lbs 1 tonne 0.0005 t 1 lb
Annual Information Form 2025 2
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
INFORMATION
This AIF contains certain “forward-looking information” within the meaning of applicable securities laws (referred to herein
as “forward-looking information”) concerning the business, operations, financial performance and condition of LunR,
and similar statements relating to the economic viability of projects, timelines, strategic plans, completion of transactions,
market prices for metals, and future payments that the Corporation is to make or receive pursuant to agreements to which
it is subject. Forward-looking information is provided as of the date of this AIF and LunR does not intend to, nor does it
assume any obligation, to update this forward-looking information, except as required by law.
Forward-looking information in this AIF:
 generally, include any statements that express or involve discussions with respect to predictions, expectations,
beliefs, plans, projections, objectives, assumptions or future events or performance;
 are often, but not always, identified by words or phrases such as “expects”, “is expected”, “anticipates”, “believes”,
“plans”, “projects”, “estimates”, “budgets”, “scheduled”, “targets”, “forecasts”, “assumes”, “intends”, “strategy”,
“goals”, “objectives”, “potential”, “possible” or variations thereof; and
 include but are not limited to words or phrases stating that certain actions, events, conditions or results may, could,
would, should, might or will be taken, occur or be achieved, or the negative of any of these terms and similar
expressions.
Examples of Forward-Looking Information:
Examples of such forward-looking information in this AIF may include information relating to:
 the FDN Transaction (as defined herein) and the  the Corporation’s liquidity and potential need for
expected benefit therefrom, the terms and and availability of future sources of financing,
conditions of the FDN Transaction, the including the timing thereof
appointment of new directors of the Board (as
defined herein) following completion of the FDN
Transaction, the execution of definitive
agreements in respect of the FDN Transaction, the
completion of the FDN Transaction substantially
on the terms of the Term Sheet (as defined herein)
or at all, the anticipated timing for completion of the
FDN Transaction, the issuance of the
Consideration Shares (as defined herein) to
Lundin Gold (as defined herein), the receipt of
required approval for the FDN Transaction,
including regulatory and shareholder approvals,
the filing of, and issuance of a final receipt for, the
Prospectus (as defined herein) by the Corporation,
the Dividend (as defined herein) including the
receipt of cash proceeds from the sale of the
Consideration Shares (as defined herein) which
Lundin Gold shareholders would have otherwise
been entitled to in the Dividend, the number of
Common Shares to be received by certain
interested parties following the Dividend, and the
satisfaction or waiver of all conditions precedent to
the completion of the FDN Transaction
Annual Information Form 2025 3
 Mineral Resource Estimates and expectations  the Corporation’s ability to locate and retain
with regard to adding to Mineral Resources persons with specialized skills and knowledge
through exploration and converting Mineral
Resources to Mineral Reserves at the properties
in which the Corporation holds a royalty, Stream
(as defined herein) or other interest
 anticipated completion of transactions  cash flow estimates
 estimated costs and level of expenditure,  the Corporation’s business plans and objectives,
currency exchange rate fluctuations including the acquisition and management of a
portfolio of a diversified royalty and Stream
interests, and strategies to achieve those plans
and objectives and the Corporation expected
operations, financial results and conditions
 the advancement of the Lunahuasi Project and  estimation of commodity prices
the Los Helados Project
 exploration, drilling, sampling, assaying and  permitting timelines, ability of operators of
mineral processing activities and the expected properties in which the Corporation holds a
results thereof at the properties in which the royalty, Stream or other interest to obtain
Corporation holds a royalty, Stream or other surface rights and property interests,
interest, including the costs of such activities and requirements of operators for additional capital,
the expected success of such activities government regulation of mining activities at the
properties in which the Corporation holds a
royalty, Stream or other interest, environmental
matters, reclamation expenses, title matters, and
insurance coverage
 the appointment of a representative from
Newmont (as defined herein) to the Board
All statements other than statements of historical fact may be forward-looking information. These statements relate to
analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable
and assumptions management currently believes to be reasonable.
Assumptions and Material Risks
Forward-looking information is necessarily based upon various estimates and assumptions including, without limitation,
the expectations and beliefs of management, including that the Corporation and the owners and operators of the properties
on which the Corporation holds a royalty, Stream or other interest can access financing, appropriate equipment and
sufficient labour; that estimated metal pricing, metallurgy, mineability, marketability and costs, together with other
assumptions underlying mineral resource and mineral reserve estimates of the owners and operators of the properties
that the Corporation holds a royalty, Stream or other interest will rema

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