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The SEC Form 40-F filing for Elemental Royalty Corporation (Ticker: ELE), dated March 24, 2026, represents the annual report for the fiscal year ended December 31, 2025 (FY 2025). As a foreign private issuer, Elemental Altus Royalties Corp. (formerly Elemental Royalty Corporation) files this form to comply with U.S. securities regulations, incorporating audited IFRS financial statements. The document details the company's financial position, equity changes, and a diversified portfolio of mineral royalties across global projects. Key highlights include a private placement financing, the acquisition of EMX Royalty Corporation on November 13, 2025, and updates to royalty assets with gross carrying amounts, accumulated depletion, and net book values for projects such as Ballarat (Australia), Balya (Turkey), Bonikro (Côte d'Ivoire), Cactus (USA), Caserones (Chile), and others in Peru, Argentina, Liberia, Mali, Sweden, Serbia, Burkina Faso, and more. Balance sheet items cover royalty income receivables, refundable taxes, recoverable exploration expenditures, deferred compensation, reclamation bonds, and prepaid expenses. Equity rollforwards show movements in issued capital, share-based payment reserves, accumulated other comprehensive income, and retained earnings from 2023 through 2025. The filing reflects ongoing operations in the precious and base metals royalty sector, with related-party transactions involving entities like Altus Royalties Limited and various subsidiaries. This comprehensive disclosure provides transparency into asset values, depletion trends, and corporate transactions, underscoring portfolio expansion via the EMX acquisition. No specific numerical financial results are quantified in the provided XBRL tags, but structural changes indicate growth and strategic consolidation. Material implications include enhanced royalty exposure across producing and development assets, potentially boosting revenue streams amid commodity market dynamics.