MAY 14, 2026 Metalla Reports Financial Results For The First Quarter Of 2026 And Provides Asset Updates PRESS RELEASE VIEW

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# MAY 14, 2026 Metalla Reports Financial Results For The First Quarter Of 2026 And Provides Asset Updates PRESS RELEASE VIEW

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# MAY 14, 2026 Metalla Reports Financial Results For The First Quarter Of 2026 And Provides Asset Updates PRESS RELEASE VIEW
METALLA REPORTS FINANCIAL RESULTS FOR THE FIRST QUARTER OF
2026 AND PROVIDES ASSET UPDATES
(All dollar amounts are in thousands of United States dollars unless otherwise indicated, except for shares, per
ounce, and per share amounts)
FOR IMMEDIATE RELEASE TSXV: MTA
NYSE American: MTA
May 14, 2026
Vancouver, Canada: Metalla Royalty & Streaming Ltd. (“Metalla” or the “Company”) (TSXV: MTA)
(NYSE American: MTA) announces its operating and financial results for the three months ended March
31, 2026. For complete details of the condensed interim consolidated financial statements and
accompanying management's discussion and analysis for the three months ended March 31, 2026, please
see the Company's filings on SEDAR+ (www.sedarplus.ca) or EDGAR (www.sec.gov). Shareholders are
encouraged to visit the Company's website at www.metallaroyalty.com.
Brett Heath, CEO of Metalla, commented, “The first quarter of 2026 represents a step-change in cash flow
and long-term value for Metalla shareholders. We delivered Adjusted EBITDA of $1.9 million, a 115%
increase over the prior-year period, and returned to net income on revenue of $3.1 million, with our six
producing royalties generating an operating cash margin of $4,848 per GEO. For 2026, we expect
production to be weighted to the second half of the year as Tocantinzinho and Wharf advance toward their
full-year guidance, La Parrilla and Amalgamated Kirkland contribute their first cash flows, and our
cornerstone development assets Côté-Gosselin and Taca Taca continue to advance toward meaningful,
value-creating milestones.”
COMPANY HIGHLIGHTS
Key Company highlights during the three months ended March 31, 2026, and subsequent period include:
• Recognized revenue from royalty and stream interests, including fixed royalty payments, of $3.1
million which represented a 78% increase compared to $1.7 million for the three months ended
March 31, 2025; net income of $0.1 million, compared to a net loss of $0.7 million for the three
months ended March 31, 2025; and Adjusted EBITDA of $1.9 million representing an increase of
115% compared to Adjusted EBITDA of $0.9 million for the three months ended March 31, 2025
(see Non-IFRS Financial Measures);
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• Received or accrued payments on 660 attributable Gold Equivalent Ounces (“GEOs”) at an average
realized price of $4,871 per attributable GEO (see Non-IFRS Financial Measures);
• On May 5, 2026, IAMGOLD Corp. (“IAMGOLD”) reported it plans to release an updated technical
report prepared in accordance with National Instrument 43-101 - Standards of Disclosure for
Mineral Projects (“NI 43-101”) in the fourth quarter of 2026 that is expected to outline a larger scale
Côté gold mine with a conceptual mine plan including both the Côté and Gosselin zones. IAMGOLD
also stated that results from the 2025 Gosselin drilling program will be included in an updated
Mineral Reserve and Mineral Resource estimate for Côté gold expected in the second quarter of
2026;
• On April 30, 2026, Agnico Eagle Mines Ltd. (“Agnico”) announced milling from Amalgamated
Kirkland (“AK”) is expected to start in the second quarter of 2026, and on February 26, 2026, Silver
Storm Mining Ltd. (“Silver Storm”) announced production at La Parrilla was expected to start in
the second quarter of 2026 (See Asset Updates). Metalla expects to receive initial cash flows from
both AK and La Parrilla during the 2026 fiscal year, potentially as early as the second quarter of
2026; and
• February 19, 2026, First Quantum Minerals Ltd. (“First Quantum”) announced the filing of an
updated technical report for the Taca Taca project prepared in accordance with NI 43-101 with an
effective date of December 31, 2025. The findings of the technical report support the development
of Taca Taca as an open pit mine with an initial mine life of 35 years, initial processing capacity of
40 Mtpa with an expansion to 60 Mtpa in the fifth year of operations, and average annual production
of 291 kt of copper and 133 koz of gold in the first ten years. Proven and Probable Mineral Reserves
total 1,990 Mt grading 0.42% copper and 0.09 g/t gold, containing an estimated 8,429 kt of copper
and 5,532 koz gold, and Measured and Indicated Mineral Resources total 2,078 Mt grading 0.42%
copper and 0.09 g/t gold, containing an estimated 8,716 kt of copper and 5,715 koz gold.
Key operating and financial metrics for the Company include:
Three months
ended
March 31, 2026
Revenue from royalty interests(1) $ 3,064
Net income $ 111
Adjusted EBITDA (2) $ 1,863
Total attributable GEOs(2) 660
Average realized price per attributable GEO (2) $ 4,871
(1) Includes fixed royalty payments.
(2) For the methodology used to calculate these measures including GEOs see Non-IFRS Financial Measures.
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ASSET UPDATES
Below are updates during the three months ended March 31, 2026, and subsequent period to certain of
the Company’s assets, based on information publicly filed by the applicable project owner:
Producing Assets
Tocantinzinho
On April 21, 2026, G Mining Ventures Corp. (“G Mining”) announced gold production of 31,846 oz and
gold sales of 33,776 oz at Tocantinzinho during the first quarter of 2026. G Mining also maintained its 2026
production guidance of 160–190 koz of gold with production expected to be weighted towards the second
half of the year with approximately 62% of production expected in the second half of the year as higher-
grade mineralization becomes available in accordance with the mine plan.
On March 12, 2026, G Mining provided its year-end Mineral Reserves and Resources at Tocantinzinho
which consisted of Proven and Probable Reserves of 1.87 Moz of gold at a grade of 1.17 g/t contained in
49,784 kt, and Measured and Indicated Resources of 1.92 Moz gold at a grade of 1.25 g/t within 47,665 kt.
G Mining also stated the 2026 exploration budget for Tocantinzinho is set at $8-10 million with the intent of
discovering the next deposit within the Tocantinzinho land package.
Metalla accrued 253 GEOs from Tocantinzinho for the first quarter of 2026.
Metalla holds a 0.75% GVR royalty on Tocantinzinho.
Wharf
On May 6, 2026, Coeur Mining, Inc. (“Coeur”) reported first quarter gold production of 9.8 koz at Wharf.
Production for the quarter was lower than the previous quarter due to the impact of fire damage to portions
of the tertiary crusher which occurred in November 2025. Crushing during the period was completed via
a temporary mobile crusher, with a second temporary crusher added early in the second quarter. Coeur
reported that commissioning of the repaired crusher was now complete and is expected to allow a return
to normal crushing and placement rates for the balance of 2026. Exploration expenditures during the first
quarter were $3 million, exploration in 2026 is expected to build on the 2025 expansion and infill drilling at
Juno and North Foley with the aim of adding to both Reserves and Resources. Other targets, including
Annie Creek and Summit Flat, are also expected to undergo expansion and infill drilling, while scout drilling
is expected to commence to continue development of the inferred pipeline. Coeur also reiterated its
previous guidance for 2026 of 72-90 koz gold production and $10-$12 million on exploration expenses.
On February 17, 2026, Coeur announced an updated NI 43-101 compliant technical report for Wharf that
nearly doubled the mine life to approximately 12 years. Proven and Probable Mineral Reserves at Wharf
increased by 65% to 1.25 Moz of gold at a grade of 0.71 g/t, contained within 55.1 Mt, and Measured and
Indicated Resources of 1.19 Moz gold at a grade of 0.6 g/t, contained within 61.8 Mt. Coeur stated that
Wharf remains positioned for additional meaningful mine life extensions, with a total Inferred resource
estimate of 72.9 Mt at 0.63 g/t for 1.49 Moz gold.
Metalla accrued 115 GEOs from Wharf for the first quarter of 2026.
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Metalla holds a 1.0% GVR royalty on the gold produced at Wharf mine.
Aranzazu
On April 10, 2026, Aura Minerals Inc. (“Aura”) reported first quarter production from Aranzazu of 15,694
GEOs (as defined by Aura), marking a 17% decrease over the fourth quarter of 2025, resulting mainly from
metal prices as higher gold and silver prices negatively impacted the conversion to GEOs (as defined by
Aura). Aura stated that the results were in line with their mine plan and expects production to increase in
the back half of the year.
Metalla accrued 133 GEOs from Aranzazu for the first quarter of 2026.
Metalla holds a 1.0% NSR royalty on Aranzazu.
Endeavor
On April 14, 2026, Polymetals Resources Ltd. (“Polymetals”) reported silver production of 547,302 oz,
zinc production of 1,917 kt, and lead production of 1,148 kt in the first quarter of 2026. A total of 59,264
tonnes were mined and processed from the Main Lode in January and February, with mill maintenance
conducted in March. Access development to higher-grade Main Lode stopes was advanced during the
quarter with planned production in the June quarter. Polymetals also reported that it expects continuous
mining of the Upper North Lode (“UNL”) at a rate of 20,000 tonnes per month for at least 18 months from
May 2026.
On March 9, 2026, Polymetals reported that mining of high-grade silver ore from the UNL at the Endeavor
mine commenced in February, with stoping now underway and about 11,000 tonnes mined to date.
Polymetals also stated that, given the exceptional value of the UNL material, it plans to undertake a trial
shipment of 30,000 tonnes of ore directly to a smelter to take advantage of highly attractive smelter terms
and strong demand for silver. Direct shipment of ore has the potential to enhance realized metal value
relative to concentrate production.
Metalla accrued 57 GEOs from Endeavor for the first quarter of 2026.
Metalla holds a 4.0% NSR royalty on lead, zinc and silver produced from Endeavor.
La Guitarra
On April 29, 2026, Sierra Madre Gold and Silver Ltd. (“Sierra Madre”) reported the first stage of the La
Guitarra production expansion is expected to come on-line in Q2 2026 with a meaningful reduction of unit
costs as throughputs increase from the 500 tpd to 750-800 tpd.
On February 17, 2026, Sierra Madre provided an update on the planned expansion of the La Guitarra
processing facility as part of its two-stage expansion at the La Guitarra silver-gold mine complex. Stage
one is expected to increase processing capacity from 500 tpd to 750–800 tpd, with plant upgrades, tailings
handling improvements, and equipment purchases already underway. Stage two is expected to increase
processing capacity to 1,200–1,500 tpd by Q3 2027.
Metalla accrued 41 GEOs from La Guitarra for the first quarter of 2026.
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Metalla holds a 2.0% NSR Royalty on La Guitarra, subject to a 1.0% buyback for $2.0 million. The
Company’s NSR royalty covers 100% of the Guitarra complex, including the Guitarra, Coloso, and
Nazareno mines.
La Encantada
On April 9, 2026, First Majestic Silver Corp. (“First Majestic”) reported production of 27 oz of gold from
La Encantada in the first quarter of 2026. During the quarter, two surface drill rigs completed 3,229 m of
drilling to test several new exploration targets.
On February 19, 2026, First Majestic reported that mining contractors were engaged at La Encantada to
accelerate development, ore flow and development rates to budget levels during the quarter. One
underground rig and one surface rig completed 1,863 meters of drilling on the property to test the La
Esquina exploration target.
Metalla accrued 30 GEOs from La

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