• Revenue growth of 561%
• Adjusted EBITDA growth of 722%
• First receipt of royalty payment from Sigma Lithium’s Grota do Cirilo project in
Brazil
• Re-purchased 111,200 common shares in the quarter as part of NCIB
• Grid Metals announced a maiden resource at its Donner Lake project in the quarter
• Deployed $25 million cash and issued 207,844 common shares to acquire an
additional royalty interest in Tres Quebradas project in July 2023 - fourth royalty
transaction since IPO

Lithium Royalty Corp. (TSX: LIRC) (“LRC” or the “Company”) is pleased to report its third quarter results
for 2023. “LRC is proud to report record revenue and our first quarter of positive Adjusted EBITDA
since our initial public offering. LRC holds top line exposure to leading lithium assets globally at all
stages of development. Asset ramp-ups on several of our projects increased revenue growth at LRC
despite spot lithium prices dropping by 45% throughout the quarter. The long term thematic for
lithium remains unchanged and we remain positive on our future prospects,” stated LRC’s CEO, Ernie
Ortiz.
The royalty business model is proving more prescient than ever, highlighted by the rising cost
pressures within the lithium sector. Strategic momentum has continued to accelerate despite the
near-term volatility, highlighted by the robust M&A activity taking place in the industry. LRC sees a
robust environment for capital allocation with a view to creating sustainable long-term value.

LRC is reporting 90 Lithium Carbonate Equivalent Tonnes (LCETs) or 887 Spodumene Concentrate
Equivalent Tonnes (SCETs) in the quarter1
.
Financial Highlights
see & read more on
https://www.lithiumroyaltycorp.com/files/doc_financials/2023/q3/lirc_earningsq323_final-1.pdf