Hot Chili secures US$15 million from OR Royalties amendment

Hot Chili Secures US$15 Million Via Amendment Agreement with OR Royalties Inc. PR Newswire La Verde Added to Costa Fuego Royalty Footprint PERTH, Australia , July 7, 2026 /PRNewswire/ -Hot Chili Limited (ASX: HCH) (TSXV: HCH) (OTCQX: HHLKF) ("Hot Chili" or "Company") is pleased to announce the execution of a binding Amended and Restated Investment Agreement (the "A&R Investment Agreement") with OR Royalties Inc., formerly Osisko Gold Royalties Ltd ("OR") pursuant to which the Company has agreed to grant to OR a Net Smelter Return ("NSR") royalty on the Company's La Verde Project, as part of the broader Costa Fuego Cu-Au Project ("Costa Fuego" or "the Project"), in consideration for cash payment of US$15 million. The A&R Investment Agreement brings total royalty consideration under the OR royalty arrangement to US$30 million (see the Company's press releases dated 28 June 2023, and 26 July 2023) with Hot Chili to receive US$15 million ("Royalty Consideration") at closing of the transactions contemplated by the A&R Investment Agreement. Closing remains subject to the satisfaction or waiver of certain customary conditions precedent for a transaction of this nature and is expected to occur in July 2026.

Highlights US$15 million in additional non-dilutive funding brings total OR royalty consideration to US$30 million, with proceeds directed toward La Verde and broader Costa Fuego advancement. La Verde added to OR's royalty footprint, a pre-resource asset, representing a significant endorsement by one of North America's most technically rigorous royalty companies. The original 2023 OR royalty arrangement for Costa Fuego was executed at the time of the Company's published Preliminary Economic Assessment ("PEA") in June 2023, which was underpinned by a then current 725 Mt Indicated Mineral Resource Estimate ("MRE") for Costa Fuego (effective March 2022).

La Verde currently carries no defined MRE,