Dividend Declaration

17 September 2020

Duke Royalty Limited

("Duke Royalty", "Duke" or the "Company")

Dividend Declaration

Duke Royalty Limited (AIM: DUKE), a provider of alternative capital solutions to a diversified range of profitable and long-established businesses in Europe and abroad, is pleased to announce the payment of 0.5p per share to shareholders by way of a scrip dividend.

Shareholders will receive their dividends for the September quarter in the form of new ordinary shares in Duke Royalty and the entitlements will be rounded down to the nearest whole share.

Shareholders are paid based on the following formula:

(Number of ordinary shares held at the record date X 0.5p) ÷ (scrip dividend reference price)

There is no requirement for shareholders to make an election to receive the Scrip Dividend as there is no option to elect for a cash dividend. The scrip dividend reference price will be calculated as the average of the Company's closing middle market price, as derived from the London Stock Exchange's Daily Official List, calculated as the five-day mid-market price from 24 September to 30 September inclusive. A further announcement will be made with details of the number of new ordinary shares to be issued.

A timetable for the key dates is set out below:

***ENDS***

For further information, please contact www.dukeroyalty.com, or contact:

About Duke Royalty

Duke Royalty Limited provides alternative capital solutions to a diversified range of profitable and long-established businesses in Europe and abroad. Duke Royalty's experienced team provide financing solutions to private companies that are in need of capital but whose owners wish to maintain equity control of their business. Duke Royalty's royalty investments are intended to provide robust, stable, long term returns to its shareholders. Duke Royalty is listed on the AIM market under the ticker DUKE and is headquartered in Guernsey.