Company reports profitable first quarter of 2024 highlighting its low-cost, low-overhead operating model

Company reports a 160% year-over-year increase in revenue and a 149% year-over-year increase in net income

Company is well positioned to continue growing its platform of assets and quarterly revenue growth, given clean balance sheet and unique investment opportunities

FISHERS, IN / ACCESSWIRE / May 28, 2024 / Royalty Management Holding Corporation (Nasdaq:RMCO) ("Royalty Management" or the "Company"), an innovative royalty company building shareholder value by acquiring and developing high value assets in a variety of resource-driven and emerging technology industries is pleased to announced today its financial results for the first quarter of 2024.

Thomas Sauve, Chief Executive Officer of the Company, commented, "We are excited to release our first 2024 first quarterly financial results and to share our business update with our investors as we continue a strong start to the 2024 year with a focus on value creation events and opportunistic growth. Post completion of the merger with American Acquisition Opportunity Inc,, we've looked to focus on the highest value contributors of the business while also establishing a low-cost, low-overhead business model. Our team is motivated by the equity value of the Company and aligned with our shareholders on maximizing this value, as opposed to being simply "hired guns" with salaries. With that in mind, we couldn't be more excited how we are positioned to continue to grow the business given our clean balance sheet and strong asset base. We are pleased with our first quarter and the second quarter is tracking growth compared to first quarter in both revenues and cash flow."

Key Highlights

• Communicated updated production and revenue guidance of its portfolio company, Ferrox Holdings' Tivani mining project containing deposits of Titanium, Iron and Vanadium from which it has commenced production. Upon completion of Ferrox's investment into its crushing and concentration plant, the company anticipates it will be able to increase production and sales to approximately 50,000 tons of run-of-mine ores per year in 2025 and approximately $8 million in annualized revenue, continuing to expand thereafter as the company continues its investment into the deposit and production.
• Renewed its gold status membership in Texas Tech University's Center for Advancing Sustainable and Distributed Fertilizer Production, or 'CASFER' organization. As a gold member of CASFER, RMC has access to the technologies and intellectual property developed out of CASFER, in particular the innovative and novel technologies to produce, capture, and recycle nitrogen-based fertilizers from farming activities. Opportunities for Royalty Management to participate in the emerging technologies and patents from CASFER are already occurring, with more Company updates on these opportunities in the near future.
• Announced that its environmental services business, under the wholly-owned subsidiary, RMC Environmental Services LLC, recorded record monthly revenue of slightly under $1.0 million run rate revenue for the month of March, equating to a positive cash flow run rate equivalent for all of Royalty Management Holding Corporation.
• Engaged CM3 Advisory as the Company's independent registered public accounting firm.
• Announced that the Company's Board of Directors voted unanimously to institute a stock repurchase program of Royalty Management Holding Corporation's Class A Common Shares for up to $2.0 million over the next 24 months of which the Company has already commenced the buy-back of stock prior to the start of the current "black out" period.

Mr. Sauve continued, "Looking forward to the remainder of 2024, our belief in, and excitement over, the opportunities we have in front of us continues to reach an all-time high. Our current platform of assets are well positioned to generate attractive cash flow and long-term value for the Company and its shareholders alike. RMC Environmental Services continues to operate efficiently and covers the majority of our overall corporate expenses, let alone our other active and cash-flowing investments and projects we are developing towards that goal resulting in bottom line income. Over the next six months we anticipate additional revenue streams to expand from our portfolio and generate free cash flow which will position us well for an exciting 2025."

Select Financial Results for First Quarter 2024

• For the first quarter of 2024, Royalty Management reported net income of $135,180, or $0.01 per share, as compared with a net income loss of $274,345, or a loss of $0.38 per share, in the prior year period.
• Total revenues were $162,100 for the first quarter of 2024 compared to revenues of $62,292 during the first quarter of 2023.
• Total assets were $13,709,149 as of the end of the first quarter of 2024, an increase from $13,610,731 compared to total assets as of the first quarter 2023.
• Total liabilities were $3,603,779 as of the end of the first quarter of 2024, a decrease from $3,990,542 compared to total assets as of the first quarter 2023, resulting in total stockholders' equity of $10,105,370 as of the end of first quarter 2024.
• 2024 expenses are trending significantly lower than 2023, which were predominantly related to the one-time merger expenses associated with American Acquisition Opportunity.

Select Portfolio Holdings

Royalty Management has put together an exciting portfolio of royalty assets which support growing or transitioning industries and to generate near-future royalty and income streams. Some of RMCO's portfolio holdings include:

RMC Environmental Service LLC - A wholly-owned, environmental service business line of RMCO that supports residential, municipal and commercial development in and around Hamilton County, Indiana. The company recently announced record revenue for the month of March 2024 which currently covers the majority of all of the parent company's expenses.

Ferrox Holdings Ltd. - A majority owner of the Tivani Project; ilmenite, iron, vanadium and phosphate project which is in an advance development stage. It is located in the long-term mining region of the Limpopo Province in South Africa. Ferrox is the holding company for several South African subsidiaries and is focus is on developing mineral resources in Sub Saharan Africa.

TR Mining - A high quality, Jamaica-based diversified mineral project with a focus on iron ore, titanium and vanadium with an initial estimated deposit of 212,925,000 tons of raw feedstock with an estimated 106,462,500 tons of ore body, based on an average of 50% magnetic material. The project is part of a Special Exclusive Prospecting License (or "SEPL") that covers an area of approximately 25 permitted square kilometers. TR Mining is 51% owned by American Carbon Corporation and 49% owned by TR Mining & Equipment Limited, where RMC owns a royalty interest from the sale of produced product from the operation.

Advanced Magnet Lab, Inc. (AML) - AML is a recognized leader in the development of innovative magnet technologies and magnet-based applications. Today, AML is executing on multiple product development programs including magnet materials and PM-Wire based motors and generators for industrial, aerospace and defense. This includes projects funded by large industry, U.S. Department of Energy and U.S. Department of Defense. RMCO has an ownership interest in AML through its participation in their Series A round of capital raising.

Center for Advancing Sustainable and Distributed Fertilizer Production (CASFER) - CASFER vision is to enable resilient and sustainable food production by developing next generation, modular, distributed, and efficient technology for capturing, recycling, and producing decarbonized nitrogen-based fertilizers (NBFs). CASFER brings together a diverse leadership and the convergence of a multidisciplinary team drawn from Texas Tech University, Florida A&M University, Georgia Institute of Technology, Case Western Reserve University, and Massachusetts Institute of Technology. RMCO is a gold member of CASFER providing commercial technology rights into one of the fastest growing markets of fertilizer recycling.

Heart Water, Inc. - Heart Water offers artisan alkaline rainwater with the aim of saving the depleting water resources. Heart Water is a cloud-harvested, nature-purified, and micro-filtered process, this is the purest alkaline water on the planet. The company has a unique process that utilizes ultraviolet light technology, multi-stage purification, and ozone oxidation, ensuring the naturally purest water available. RMCO owns an equity stake in Heart Water and will collect a royalty interest from each bottle of water that is sold from the facilities constructed by RMC's investment.

ROYALTY MANAGEMENT HOLDING CORPORATION
STATEMENTS OF OPERATIONS (Unaudited)