Freehold Royalties Ltd. (Freehold) (TSX: FRU) announces that its Board of Directors has declared a dividend of Cdn. $0.09 per common share to be paid on May 15, 2023 to shareholders of record on April 28, 2023.

These dividends are designated as “eligible dividends” for Canadian income tax purposes.

Freehold’s focus is on acquiring and managing oil and gas royalties. Freehold’s common shares trade on the Toronto Stock Exchange in Canada under the symbol FRU.

For further information, contact:

Freehold Royalties Ltd.Matt DonohueManager, Investor Relations & Capital Marketst.   403.221.0833f.   403.221.0888tf.  1.888.257.1873e.  mdonohue@rife.com w.  www.freeholdroyalties.com

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