OR Royalties Inc. (TSX:OR) announces a normal course issuer bid. Under the bid, the company will repurchase up to 9,399,294 common shares, representing 5% of its issued share capital. The repurchased shares will be cancelled.

The bid will expire on December 11, 2026, or such earlier date as the company may complete its purchases pursuant to the bid. As at November 28, 2025, there were 187,985,880 common shares issued and outstanding.