Alaris Royalty Corp. Declares May Dividend

CALGARY, May 21, 2019 - Alaris Royalty Corp. ("Alaris" or the "Corporation") (TSX: AD) announces that the Board of Directors of the Corporation has declared a dividend of $0.1375 per common share for the month of May 2019, representing $1.65 per share on an annualized basis. The dividend is payable on June 17, 2019 to shareholders of record on May 31, 2019. The ex-dividend date is May 30, 2019.

This dividend is designated by the Corporation to be an eligible dividend for the purpose of the Income Tax Act (Canada) and any similar provincial or territorial legislation. An enhanced dividend tax credit applies to eligible dividends paid to Canadian residents.

About Alaris:
The Corporation provides alternative financing for a diversified group of private businesses ("Private Company Partners") in exchange for royalties or distributions from the Private Company Partners, with the principal objective of generating stable and predictable cash flows for dividend payments to its shareholders. Distributions from the Private Company Partners are adjusted each year based on the percentage change of a "top line" financial performance measure such as gross margin and same-store sales and rank in priority to the owners' common equity position.

For further information please contact:
Curtis Krawetz
Vice President, Investments and Investor Relations
Alaris Royalty Corp.
P: (403) 221-7305
Suite 250, 333 24^th Avenue S.W.
Calgary, Alberta T2S 3E6
www.alarisroyalty.com