# EDGAR Filing Document

**Accession Number:** 0002087398
**File Stem:** 0001104659-26-060393
**Filing Date:** 2026-5
**Character Count:** 30485
**Document Hash:** 57e0bd8889f9d4de0bdec5f378870e4b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-060393.hdr.sgml**: 20260513

**ACCESSION NUMBER**: 0001104659-26-060393

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 16

**FILED AS OF DATE**: 20260513

**DATE AS OF CHANGE**: 20260513

**EFFECTIVENESS DATE**: 20260513

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Metals Royalty Co Inc.
- **CENTRAL INDEX KEY:** 0002087398
- **STANDARD INDUSTRIAL CLASSIFICATION:** GOLD & SILVER ORES [1040]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 000000000
- **STATE OF INCORPORATION:** A1
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-295861
- **FILM NUMBER:** 26974754

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 1900 DOME TOWER
- **STREET 2:** 333 7TH AVE SW
- **CITY:** CALGARY
- **PROVINCE COUNTRY:** A0
- **ZIP:** T2P 2Z1
- **BUSINESS PHONE:** 403-984-1941

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 1900 DOME TOWER
- **STREET 2:** 333 7TH AVE SW
- **CITY:** CALGARY
- **PROVINCE COUNTRY:** A0
- **ZIP:** T2P 2Z1

**As filed with the Securities and Exchange Commission on May 13, 2026** 

**Registration No. 333-** 

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549**

**FORM S-8** 

**REGISTRATION STATEMENT** 

***UNDER***

***THE SECURITIES ACT OF 1933***

 ****

**The Metals Royalty Company Inc.**

**(Exact name of registrant as specified in its charter)** 

---

| | |
|:---|:---|
| **British Columbia, Canada** | **Not applicable** |
| **(State or other jurisdiction of**<br> **incorporation or organization)**<br>| **(I.R.S. Employer**<br> **Identification Number)**<br>|

---

**1900 Dome Tower<br> 333 7<sup>th</sup> Ave SW<br> Calgary, AB, T2P 2Z1<br> (403) 984-1941<br> (Address, including zip code, and telephone number, including area code, of registrant's principal executive offices)** 

**2025 Equity Incentive Plan, dated November 10, 2025**

**(Full title of the plans)** 

**C T Corporation System**

**28 Liberty Street** 

**New York, New York 10005**

**(Name and address of agent of service)**

**(212) 894-8940**

**(Telephone number, including area code, of agent for service)**

***Copies to:***

---

| | |
|:---|:---|
| **Benjamin K. Marsh<br> Paul Heller<br> Goodwin Procter LLP<br> The New York Times Building<br> 620 Eighth Avenue<br> New York, New York 10018<br> (212) 813-8800** | **Evan Straight <br> Blake, Cassels & Graydon LLP<br> 1133 Melville Street<br> Suite 3500, The Stack, Vancouver, BC, V6E 4E5<br> (604) 631-3300** |

---

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.

---

| | | | |
|:---|:---|:---|:---|
| Large accelerated filer | ◻ | Accelerated filer | ◻ |
| Non-accelerated filer | ⌧ | Smaller reporting company | ⌧ |
|  |  | Emerging growth company | ⌧ |

---

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ◻

**EXPLANATORY NOTE**

Pursuant to General Instruction E to Form S-8, The Metals Royalty Company Inc.. (the "Registrant") is filing this Registration Statement on Form S-8 (this "Registration Statement") with the U.S. Securities and Exchange Commission (the "Commission") to register (i) 5,114,593 common shares, without par value (the "Common Shares"), for issuance under the Registrant's 2025 Equity Incentive Plan, dated November 10, 2025 and (ii) 3,000,000 Common Shares for issuance under the Registrant's CEO Performance Plan, dated March 3, 2026.

**PART I**

**INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS**

The information specified in Part I of Form S-8 is omitted from this Registration Statement in accordance with the provisions of Rule 428 under the Securities Act of 1933, as amended (the "***Securities Act***") and the introductory note to Part I of this Registration Statement. The documents containing the information specified in Part I of Form S-8 will be delivered to the participants in the plans covered by this Registration Statement as specified by Rule 428(b)(1) under the Securities Act.

**PART II**

**INFORMATION REQUIRED IN THE REGISTRATION STATEMENT** 

---

| | |
|:---|:---|
| **ITEM 3.** | **INCORPORATION OF DOCUMENTS BY REFERENCE** |

---

The following documents filed by Registrant with the U.S. Securities and Exchange Commission (the "***Commission***") are incorporated by reference into this Registration Statement:

(a) The Company's Annual Report on Form 20-F for the year ended December 31, 2025, filed with the Commission on [April 27, 2026](https://www.sec.gov/ix?doc=/Archives/edgar/data/2087398/000110465926049527/tmcr-20251231x20f.htm).

(b) The Company's Reports of Foreign Private Issuer on Form 6-K, filed with the Commission on [May 7, 2026](https://www.sec.gov/Archives/edgar/data/2087398/000110465926057141/tm2613851d1_6k.htm) and [May 12, 2026](https://www.sec.gov/Archives/edgar/data/2087398/000110465926059007/tm2614192d1_6k.htm).

(b) All reports filed pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act") since December 31, 2025.

(c) The description of the Registrant's common shares, without par value, contained in the Registrant's Registration Statement on Form 8-A filed with the Commission under Section 12(b) of the Securities Exchange Act of 1934, as amended (the *"**Exchange Act***") on [March 24, 2026](https://www.sec.gov/Archives/edgar/data/2087398/000110465926033637/tm2526563d19_8a12b.htm) (File 001-43208), including any amendment or report filed for the purpose of updating such description.

All other reports and documents subsequently filed by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act on or after the date of this Registration Statement and prior to the filing of a post-effective amendment to this Registration Statement which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference herein and to be a part of this Registration Statement from the date of the filing of such reports and documents. Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any subsequently filed document that also is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.

---

| | |
|:---|:---|
| **ITEM 4.** | **DESCRIPTION OF SECURITIES** |

---

Not applicable.

---

| | |
|:---|:---|
| **ITEM 5.** | **INTERESTS OF NAMED EXPERTS AND COUNSEL** |

---

Not applicable.

---

| | |
|:---|:---|
| **ITEM 6.** | **INDEMNIFICATION OF DIRECTORS AND OFFICERS** |

---

Sections 159 to 164 of the *Business Corporations Act* (British Columbia) (the "BCBCA") authorize companies to indemnify past and present directors, officers and certain other individuals for the liabilities incurred in connection with their services as such (including costs, expenses and settlement payments) unless such individual did not act honestly and in good faith with a view to the best interests of the company and, in the case of a criminal or administrative proceeding, if such individual did not have reasonable grounds for believing his or her conduct was lawful. In the case of a suit by or on behalf of the corporation, a court must approve the indemnification.

Our articles require us to indemnify directors and officers to the extent required by law.

We have entered into agreements with our directors and certain officers, or an Indemnitee, to indemnify the Indemnitee, to the fullest extent permitted by law and subject to certain limitations, against all liabilities, costs, charges and expenses reasonably incurred by an Indemnitee in an action or proceeding to which the Indemnitee was made a party by reason of the Indemnitee being an officer or director of (i) our company or (ii) an organization of which we are a shareholder or creditor if the Indemnitee serves such organization at our request.

We maintain insurance policies relating to certain liabilities that our directors and officers may incur in such capacity.

---

| | |
|:---|:---|
| **ITEM 7.** | **EXEMPTION FROM REGISTRATION CLAIMED** |

---

Not applicable.

---

| | |
|:---|:---|
| **ITEM 8.** | **EXHIBITS** |

---

The following documents are filed as exhibits to this Registration Statement.

---

| | |
|:---|:---|
| **Exhibit**<br> **Number** | **Description** |
| [3.1](https://www.sec.gov/Archives/edgar/data/2087398/000110465926021062/tm2526563d11_ex3-1.htm) | [Amended and Restated Articles of Incorporation of the Registrant (incorporated by reference to Registration Statement on Form F-1 filed on February 27, 2026)](https://www.sec.gov/Archives/edgar/data/2087398/000110465926021062/tm2526563d11_ex3-1.htm) |
| [5.1](tm2614429d1_ex5-1.htm) | [Form of Opinion of Blake, Cassels & Graydon LLP (filed herewith)](tm2614429d1_ex5-1.htm) |
| [23.1](tm2614429d1_ex23-1.htm) | [Consent of Ernst & Young LLP, Independent Registered Public Accounting Firm (filed herewith)](tm2614429d1_ex23-1.htm) |
| [23.2](tm2614429d1_ex5-1.htm) | [Form of Consent of Blake, Cassels & Graydon LLP (included in Exhibit 5.1)](tm2614429d1_ex5-1.htm) |
| [24.1](#POA) | [Power of Attorney (included on signature page hereto)](#POA) |
| [99.1(1)](https://www.sec.gov/Archives/edgar/data/2087398/000110465926021062/tm2526563d11_ex10-6.htm) | [2025 Equity Incentive Plan, dated November 2025 (incorporated by reference to Registration Statement on Form F-1 filed on February 27, 2026)](https://www.sec.gov/Archives/edgar/data/2087398/000110465926021062/tm2526563d11_ex10-6.htm) |
| [99.1(2)](https://www.sec.gov/Archives/edgar/data/2087398/000110465926026481/tm2526563d14_ex10-15.htm) | [CEO Performance Plan (incorporated by reference to Registration Statement on Form F-1, Amendment No. 1, filed on March 11, 2026)](https://www.sec.gov/Archives/edgar/data/2087398/000110465926026481/tm2526563d14_ex10-15.htm) |
| [107](tm2614429d1_ex107.htm) | [Filing Fee Table (filed herewith)](tm2614429d1_ex107.htm) |

---

---

| | |
|:---|:---|
| **ITEM 9.** | **UNDERTAKINGS** |

---

(a) The undersigned Registrant hereby undertakes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) To include any prospectus required by section 10(a)(3) of the Securities Act of 1933;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than 20% change in the maximum aggregate offering price set forth in the "Calculation of Filing Fee Tables" or "Calculation of Registration Fee" table, as applicable, in the effective registration statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement;

*Provided, however,* that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the SEC by the registrant pursuant to section 13 or section 15(d) of the Exchange Act that are incorporated by reference in the registration statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.

(b) The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the registrant's annual report pursuant to section 13(a) or section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan's annual report pursuant to section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

(c) Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.

**Signatures**

Pursuant to the requirements of the Securities Act, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in Cape Town, South Africa.

---

| | | |
|:---|:---|:---|
|  | **THE METALS ROYALTY COMPANY INC.** | **THE METALS ROYALTY COMPANY INC.** |
| Date: May 13, 2026 | By: | /s/ Brian Paes Braga |
|  |  | Brian Paes Braga<br> Chief Executive Officer<br> (Principal Executive Officer) |

---

KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Brian Paes Braga and Donald Sewell and each of them singly, his or her true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution for him or her and in his or her name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this Registration Statement, and any subsequent registration statements pursuant to Rule 462 of the Securities Act and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that each of said attorney-in-fact or his or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| /s/ Brian Paes-Braga | Chief Executive Officer and Chairperson | May 13, 2026 |
| Brian Paes-Braga | (Principal Executive Officer) |  |
| /s/ Donald Sewell | President and Chief Financial Officer | May 13, 2026 |
| Donald Sewell | (Principal Financial and Accounting Officer) |  |
| /s/ Brian T. O'Neill | Director | May 13, 2026 |
| Brian T. O'Neill |  |  |
| /s/ Gerard Barron | Director | May 13, 2026 |
| Gerard Barron |  |  |
| /s/ Jorge Fonesca | Director | May 13, 2026 |
| Jorgen Fonesca |  |  |
| /s/ Hamed Shahbazi | Director | May 13, 2026 |
| Hamed Shahbazi |  |  |

---

**SIGNATURE OF AUTHORIZED REPRESENTATIVE IN THE UNITED STATES**

Pursuant to the Securities Act as amended, the undersigned, the duly authorized representative in the United States of America, has signed this registration statement thereto in New York, NY on May 13, 2026.

---

| | |
|:---|:---|
| **Authorized Representative in the United States** | **Authorized Representative in the United States** |
| By: | /s/ Colleen A. De Vries |
| Name: | Colleen A. De Vries |
| Title: | Sr. Vice President on behalf of Cogency Global Inc. |

---

## Exhibit 5.1

**Exhibit 5.1**

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| | |
|:---|:---|
| &nbsp;&nbsp; <br>![](image_001.jpg)<br>| &nbsp;&nbsp;![](image_002.jpg) |

---

---

| |
|:---|
| May 11, 2026 |
| The Metals Royalty Company Inc.<br> 1900 Dome Tower<br> 333 7th Ave SW<br> Calgary, AB T2P 2Z1<br> Canada |
| The Metals Royalty Company Inc.<br> 1900 Dome Tower<br> 333 7th Ave SW<br> Calgary, AB T2P 2Z1<br> Canada |
| Dear Sirs/Mesdames: |

---

**RE: The Metals Royalty Company Inc. – S-8 Registration Statement**

We act as Canadian counsel to The Metals Royalty Company Inc., a corporation incorporated under the *Business Corporations Act* (British Columbia) (the "**Company**"), in connection with the administration of the Company's (i) 2025 Equity Incentive Plan, dated November 10, 2025 (the "**LTIP**") pursuant to which the Company may issue up to 5,114,593 common shares in the capital of the Company (the "**Shares**") upon the due exercise or settlement, as applicable, of incentive stock options, non-qualified stock options, share appreciation rights, restricted share awards, restricted share units, unrestricted share awards and dividend equivalent rights (collectively, the "**LTIP Awards**"); and (ii) CEO Performance Plan, dated March 3, 2026 (the "**CEO Plan**", and together with the LTIP, the "**Plans**") pursuant to which the Company may issue up to 3,000,000 Shares upon the due settlement of performance-based restricted stock units (the "**PRSUs**", and together with the LTIP Awards, the "**Awards**"). We are delivering this opinion in connection with the filing by the Company of the Registration Statement on Form S-8 (such registration statement, as it may be amended from time to time, is referred to herein as the "**Registration Statement**") filed with the U.S. Securities and Exchange Commission under the U.S. Securities Act of 1933, as amended (the "**Securities Act**") relating to the registration of the Shares for issuance under the Plans.

We have considered such questions of law, examined such statutes, regulations and other documents and have made such other investigations as we have considered necessary or desirable in connection with the opinions hereinafter set forth, including, but not so as to limit the generality of the foregoing, a certificate of an officer of the Company as to certain factual matters concerning the Company (the "**Company Certificate**").

In our examinations, we have assumed:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the legal capacity of all individuals, the genuineness of all signatures at all relevant times of any
individual and, to the extent that any person has signed a document electronically, such person has applied his or her own electronic
signature to the document;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the authenticity of all documents submitted to us as originals, the conformity to authentic original documents
of all documents submitted to us as certified, conformed, photostatic, facsimile or electronically transmitted copies, and the authenticity
of the originals of such certified, conformed, photostatic, facsimile or electronically transmitted copies; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the accuracy and completeness of the factual information contained in the Company Certificate and that
no act or event has occurred between the date of such certificate and the date hereof that would, in any manner, affect the accuracy or
completeness thereof, or its relevance as a basis for any of the opinions set out below.

![](image_003.jpg)

![](image_001.jpg)

We are qualified to practice law in the Province of Ontario, Alberta, British Columbia and Quebec. We express no opinion as to any laws or any matters governed by any laws other than the laws of the Province of British Columbia and the federal laws of Canada applicable therein (in each case in effect as of the date hereof).

The opinions hereinafter expressed are (except where otherwise noted) based upon legislation, rules and regulations in effect on the date hereof and we assume no obligation to update these opinions to take into account any changes in such laws after the date hereof.

With respect to our opinions below, we have relied, insofar as such opinions relate to questions of fact, upon the Company Certificate.

Based and relying upon the foregoing, we are of the opinion that, on the date hereof:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. all necessary corporate actions have been taken to authorize the issuance of the Shares upon the due exercise
or settlement, as applicable, of the Awards; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. upon the due exercise or settlement, as applicable, of the Awards in accordance with their terms and the
terms of the Plans, the Shares underlying the Awards will be validly issued, fully paid and non-assessable common shares of the Company.

This opinion letter is being issued solely in connection with the issuance of the Shares upon the due exercise or settlement, as applicable, of the Awards. This opinion letter may not be relied upon by any other persons or in connection with any other transaction or quoted from or referred to in any other documents, without our prior written consent. This opinion letter is given as of the date hereof and we disclaim any obligation or undertaking to advise you of any changes in law or fact affecting or bearing upon this opinion occurring after the date hereof which come, or are brought, to our attention.

We hereby consent to the filing of this opinion as an exhibit to the Registration Statement. In giving such consent we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Securities Act.

Yours very truly,

(signed) "*Blake, Cassels & Graydon LLP"*

Blake, Cassels & Graydon LLP

![](image_003.jpg)

## Exhibit 23.1

**Exhibit 23.1**

**Consent of Independent Registered Public Accounting Firm**

We consent to the incorporation by reference in this Registration Statement on Form S-8 pertaining to the 2025 Equity Incentive Plan and the CEO Performance Based Award Plan of our report dated March 25, 2026 with respect to the financial statements of The Metals Royalty Company Inc., included in its Annual Report (Form 20-F) for the period ended December 31, 2025, filed with the Securities and Exchange Commission.

/s/ Ernst & Young LLP

Chartered Professional Accountants

Vancouver, Canada

May 12, 2026

## Ex-Filing

?xml version='1.0' encoding='ASCII'? EX-FILING FEES

---

| |
|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Calculation of Filing Fee Tables**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **S-8**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Metals Royalty Co Inc.**  |

---

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Security Type**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Security Class Title**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Fee Calculation Rule**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Amount Registered**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Proposed Maximum Offering Price Per Unit**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Maximum Aggregate Offering Price**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Fee Rate**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Amount of Registration Fee**  |
| 1 | Equity | Common Share, without par value | Other | 5114593 | $14.49 | $74110452.57 | 0.0001381 | $10234.65 |
| 2 | Equity | Common Share, without par value | Other | 3000000 | $14.49 | $43470000.00 | 0.0001381 | $6003.21 |
| Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: |  | $117580452.57  |  | $16237.86  |
| Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  |  |  |  | $0.00  |
| Net Fee Due:  | Net Fee Due:  | Net Fee Due:  | Net Fee Due:  | Net Fee Due:  |  |  |  | $16237.86  |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Offering Note** <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <sup>1</sup> Note 1a: Represents common shares reserved for issuance under The Metals Royalty Company Inc. 2025 Equity Incentive Plan (the "Plan"), including pursuant to the Plan's automatic annual increase provision, which provides that, on January 1, 2026 and each January 1 thereafter, the number of shares reserved for issuance under the Plan will be increased by a number of shares equal to the difference between the number of shares reserved and available for issuance under the Plan and 10% of the Company's outstanding Common Shares as of the immediately preceding December 31, or such lesser number of shares as determined by the Administrator. Note 1b: Estimated solely for purposes of calculating the registration fee pursuant to Rules 457(c) and 457(h) under the Securities Act, based on the average of the high and low prices of the registrant's common stock as reported on Nasdaq on May 11, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <sup>2</sup> Note 2a: Represents Common Shares reserved for issuance pursuant to The Metals Royalty Company Inc. CEO Performance Based Award Plan, consisting of up to 3,000,000 common shares underlying performance-based restricted stock units. Note 2b: See Note 1b.

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| **Rule 457(p)** |
| Fee Offset Claims |
| Fee Offset Sources |

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