Uranium Royalty — Share Issue/Capital Change 2025

Jul 18, 2025

URANIUM
ROYALTY CORP
QUALIFICATION CERTIFICATE

TO: British Columbia Securities Commission, as principal regulator

AND TO: Ontario Securities Commission
Alberta Securities Commission
Financial and Consumer Affairs Authority of Saskatchewan
Manitoba Securities Commission
Autorité des marchés financiers
Nova Scotia Securities Commission
Financial and Consumer Services Commission (New Brunswick)
Financial and Consumer Division (Prince Edward Island)
Office of the Superintendent of Securities, Service Newfoundland and Labrador
Office of the Superintendent of Securities, Nunavut
Office of the Superintendent of Securities (Northwest Territories)
Office of the Yukon Superintendent of Securities

RE: Uranium Royalty Corp. (the "Corporation") – Preliminary Short Form Base Shelf Prospectus dated July 18, 2025 (the "Preliminary Prospectus")

In accordance with the requirements of Subsection 4.1(1)(a)(ii) of National Instrument 44-101 – Short Form Prospectus Distributions ("NI 44-101"), the Corporation hereby confirms it is relying upon the basic qualification criteria set out in Section 2.2 of NI 44-101 and in Section 2.2 of National Instrument 44-102 – Shelf Distributions in order to be qualified to file the Preliminary Prospectus in the form of a short form prospectus that is a preliminary base shelf prospectus ("Qualification Criteria").

In connection with the filing by the Corporation of the Preliminary Prospectus, the undersigned, in her capacity as the Chief Financial Officer of the Corporation, hereby certifies that:

1. the Corporation has satisfied all of the Qualification Criteria applicable to it; and
2. all of the material incorporated by reference in the Preliminary Prospectus and not previously filed is being filed with the Preliminary Prospectus.

DATED this 18th day of July, 2025.

URANIUM ROYALTY CORP.

By: /s/ Josephine Man
Name: Josephine Man
Title: Chief Financial Officer