Elemental Altus Announces Changes to Board Following Tether Investment

Director Appointments

New Executive Chairman Juan Sartori and non-executive directors Simon Vumbaca, and Ravi Sood have been appointed to the Board, alongside existing members Sandeep Singh and Prashant Francis. Frederick Bell, who will continue as CEO of the Company, John Robins, Martin Turenne, Matthieu Bos, and Vincent Benoit have agreed to step down.

These appointments are subject to ratification by shareholders at the upcoming Annual General Meeting.

"We are pleased to welcome our new directors as we enter an exciting phase of growth for the Company," said Frederick Bell, CEO. "With a streamlined Board, renewed ambition to scale the business and the support of Tether, the Company is in a unique position to expand its portfolio of predominantly gold royalties. As we look ahead, we also extend our sincere gratitude to the outgoing directors whose guidance and dedication over the years have been instrumental in the Company's development. They leave the Company in the strongest financial position in its history, providing a solid foundation for the future."

Juan Sartori, newly appointed Executive Chairman, added: "The opportunity to invest in and support the Company at this pivotal point is an important milestone in Tether's strategy to increase its exposure to gold. Elemental Altus' management team has built a strong foundation through disciplined execution and we look forward to supporting the next phase of transformational growth. By leveraging the synergies and convergence we are witnessing between real and digital assets — driven by crypto technologies, as exemplified by Tether Gold — we believe we can unlock substantial value. We are also grateful for the hard work of all involved in enabling us to complete this investment so quickly and for the outgoing Board for their years of service and meaningful contributions to the Company's success."