Diversified Royalty Corp. Announces $50 Million Bought Deal Public Offering of Common Shares

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Not for distribution to U.S. newswire services or for dissemination in the United States

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Base Shelf Prospectus is accessible, and the Prospectus Supplement will be accessible within two business days, on SEDAR+

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Diversified Royalty Corp. Announces $50 Million Bought Deal Public Offering of Common Shares 

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Vancouver, B.C., June 25, 2026 (GLOBE NEWSWIRE) — Diversified Royalty Corp. (TSX: DIV, DIV.DB.A and DIV.DB.B) (the “Corporation” or “DIV”) is pleased to announce that it has entered into an agreement with a syndicate of investment dealers led by CIBC Capital Markets and ATB Cormark Capital Markets (collectively, the “Underwriters”) pursuant to which the Underwriters have agreed to purchase 10,730,000 Common Shares (the “Common Shares”) from the treasury of the Corporation, at a price of $4.66 per Common Share (the “Offering Price”) for total gross proceeds of approximately $50 million (the “Offering”).

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In addition, the Corporation has granted the Underwriters an option (the “Over-Allotment Option”) to purchase up to an additional 1,609,500 Common Shares from the treasury of the Corporation at the Offering Price for additional gross proceeds of up to approximately $7.5 million for market stabilization purposes and to cover over-allotments, if any. The Over-Allotment Option is exercisable, in whole or in part, by the Underwriters at any time up to 30 days following the closing of the Offering.

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The net proceeds of the Offering will be used to repay outstanding amounts under DIV’s acquisition facility that was drawn in connection with DIV’s recent acquisition of the Mr. Lube + Tires franchisor business and for working capital and general corporate purposes.

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The Offering will be made by way of a prospectus supplement (the “Prospectus Supplement”) to the Corporation’s existing short form base shelf prospectus (the “Base Shelf Prospectus”) dated July 22, 2025. The Prospectus Supplement (together with the Base Shelf Prospectus, being the “Offering Documents”) will be filed with the securities commissions in all of the provinces and territories of Canada, except Quebec. Access to the Prospectus Supplement, the Base Shelf Prospectus and any amendment to the Offering Documents is provided in accordance with securities legislation relating to procedures for providing access to a shelf prospectus supplement, a base shelf prospectus and any amendment. The Base Shelf Prospectus is, and the Prospectus Supplement will be (within two business days from the date hereof), accessible on SEDAR+ at www.sedarplus.ca. The Offering Documents will contain important detailed information about the securities being offered. An electronic or paper copy of the Prospectus Supplement, the Base Shelf Prospectus, and any amendment to such Offering Documents, may be obtained without charge from CIBC Capital Markets at 161 Bay Street, 5th Floor, Toronto, ON M5J 2S8 or by telephone at 1-416-956-6378 or by email at [email protected] or from ATB Cormark Capital Markets at Royal Bank Plaza, North Tower, Suite 1800, Bay Street, Toronto, Ontario M5J 2J2, or by email at: [email protected] by providing the contact with an email address or address, as applicable. Prospective investors should read the Base Shelf Prospectus and the Prospectus Supplement (when filed) before making an investment decision.

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Closing of the Offering is expected to occur on or about July 6, 2026 and is subject to regulatory approval including that of the TSX.

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This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent registration under U.S. federal and state securities laws or compliance with an applicable exemption from such U.S. registration requirements.

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Recent Updates

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As announced on June 16, 2026, DIV completed the acquisition of the Mr. Lube + Tires franchisor business for a gross purchase price of $235 million, subject to customary closing and post-closing adjustments.