Prairiesky Royalty Ltd. Announces Change To Virtual Annual General Meeting On April 21, 2020

CALGARY, March 25, 2020 - PrairieSky Royalty Ltd. ("PrairieSky" or the "Company") (TSX: PSK) announces that its annual general meeting of holders of common shares scheduled for Tuesday, April 21, 2020 at 9:30 a.m. (MDT) at the Calgary Petroleum Club will be changed to a virtual meeting to be held at the same time and on the same date.

As the City of Calgary and the Province of Alberta have declared a state of public health emergency, and to support efforts to combat the spread of COVID-19, PrairieSky has made the decision to change its in person annual general meeting to a virtual format. We believe hosting a virtual meeting in the face of the COVID-19 pandemic is in the best interests of all stakeholders and the broader community. Shareholders will not be able to attend the annual general meeting in person.

The virtual meeting will be conducted via live audio webcast at https://web.lumiagm.com/285970493 commencing at 9:30 a.m. (MDT) on April 21, 2020. Shareholders will have an opportunity to participate at the annual general meeting online regardless of their geographic location. Below is some additional information on attending the virtual meeting. Further details will be provided on our website at https://www.prairiesky.com/investors.

Registered shareholders and duly appointed proxyholders will be able to listen to the virtual meeting, ask questions and vote online, all in real time, provided they are connected to the Internet and properly follow the instructions contained on the website.

Non-registered (beneficial) shareholders who have not duly appointed themselves as proxyholders may still attend the virtual meeting as guests. Guests will be able to listen to the meeting but will not be able to vote at the meeting or ask questions.

• https://web.lumiagm.com/285970493 in your web browser.
• Password: prairie2020 (case sensitive)
• If you have voting rights, select ?Login? and follow the instructions.
• If you do not have voting rights, select ?Guest? and fill in the form.

We recommend that you log in to the webcast at least one hour before the time of the virtual meeting.

PrairieSky encourages all shareholders to participate in the virtual annual general meeting. If you are unable to attend the virtual meeting, we encourage you to complete the form of proxy or voting instruction form previously mailed to you and return it within the time frames indicated on such forms so that your vote is counted at the virtual meeting.

Please note that in light of the rapidly evolving environment related to the COVID-19 outbreak, the ability to hold the virtual meeting as planned could be compromised. Should PrairieSky be required to alter its plans regarding the virtual meeting, leading to a cancellation or postponement, the details of any such change would be communicated via press release and made available at the Company's website at https://www.prairiesky.com.

ABOUT PRAIRIESKY ROYALTY LTD.

PrairieSky is a royalty company, generating royalty production revenues as petroleum and natural gas are produced from its properties. PrairieSky has a diverse portfolio of properties that have a long history of generating funds from operations and that represent the largest and most consolidated independently-owned fee simple mineral title position in Canada. PrairieSky's common shares trade on the Toronto Stock Exchange under the symbol PSK.

FOR FURTHER INFORMATION PLEASE CONTACT:

Please also refer to our website at https://www.prairiesky.com/contact/ for important information regarding PrairieSky?s business continuity program during the COVID-19 Public Health Emergency, including contact information for each department.

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