Director’s Dealing

17 May 2022

Trident Royalties Plc

("Trident" or the "Company")

Director's Dealing

The following notifications are made under article 19 of the Market Abuse Regulations ("MAR") relating to certain transactions in the shares of the Company by Directors of the Company, Persons Discharging Managerial Responsibilities ("PDMR") of the Company and/or Persons Closely Associated ("PCA") with the Directors and PDMRs.

On 17 May 2022, Trident was notified that Albert Gourley, a Non-Executive Director of the Company, had on 29 April 2022 transferred 2,754,042 Ordinary Shares of £0.01 of the Company ("Ordinary Shares") to Albert C Gourley Professional Corporation at market (booked price being 47.50p per share). Albert Gourley is the ultimate beneficial owner of Albert C Gourley Professional Corporation holding 100 per cent of the issued share capital and, as such, there is no change in the overall beneficial interest held by Albert Gourley and PCAs in the Company.

This transaction represented approximately 0.95% of the Company's issued share capital. Following this transfer, Albert Gourley's beneficial holding remains at 7,500,000 Ordinary Shares, representing 2.58% of the Company's issued share capital, all now held through Albert C Gourley Professional Corporation.

PDMR / PCA FCA Transaction Notifications

Notification of Transactions of Persons Discharging Managerial Responsibility and Persons Closely Associated with them:

This information has been provided in accordance with the Market Abuse Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018.

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About Trident

Trident is a growth-focused, diversified mining royalty and streaming company, providing investors with exposure to a mix of base and precious metals, bulk materials (excluding thermal coal) and battery metals.

Key highlights of Trident's strategy include:

· Building a royalty and streaming portfolio to broadly mirror the commodity exposure of the global mining sector (excluding thermal coal) with a bias towards production or near-production assets, differentiating Trident from the majority of peers which are exclusively, or heavily weighted, to precious metals;

· Acquiring royalties and streams in resource-friendly jurisdictions worldwide, while most competitors have portfolios focused on North and South America;

· Targeting attractive small-to-mid size transactions which are often ignored in a sector dominated by large players;

· Active deal-sourcing which, in addition to writing new royalties and streams, will focus on the acquisition of assets held by natural sellers, such as: closed-end funds, prospect generators, junior and mid-tier miners holding royalties as non-core assets, and counterparties seeking to monetise packages of royalties and streams which are otherwise undervalued by the market;

· Maintaining a low-overhead model which is capable of supporting a larger scale business without a commensurate increase in operating costs; and

· Leveraging the experience of management, the board of directors, and Trident's adviser team, all of whom have deep industry connections and strong transactional experience across multiple commodities and jurisdictions.

The acquisition and aggregation of individual royalties and streams is expected to deliver strong returns for shareholders as assets are acquired on terms reflective of single asset risk compared with the lower risk profile of a diversified, larger scale portfolio. Further value is expected to be delivered by the introduction of conservative levels of leverage through debt. Once scale has been achieved, strong cash generation is expected to support an attractive dividend policy, providing investors with a desirable mix of inflation protection, growth and income.