X0202 SCHEDULE 13D/A 0002025889 XXXXXXXX LIVE 1 Common Shares, no par value 06/30/2026 false 0002086771 28620K106 Elemental Royalty Corporation

10001 W. Titan Road Littleton CO 80125

Tether Global Investments Fund 4420 4621 1793 Final Av. La Revolucion, Edif. Centro, Corporativo Presidente Plaza, Nivel 12 San Salvador H3 00000 Daniel Woodard (212) 547-5400 McDermott Will & Schulte LLP One Vanderbilt Avenue New York NY 10017 0002025889 N Tether Global Investments Fund, S.I.C.A.F., S.A. OO Y H3 0.00 20354627.00 0.00 20354627.00 20354627.00 N 31.6 CO Note in relation to Items 8, 10 and 11: Includes 12,852,125 common shares, no par value ("Common Shares") of Elemental Royalty Corporation held by Tether International, S.A. de C.V., a controlled subsidiary of Tether Global Investments Fund, S.I.C.A.F., S.A and 7,502,502 Common Shares of held by Tether Investments, S.A. de C.V., a controlled subsidiary of Tether Global Investments Fund, S.I.C.A.F., S.A. Note in relation to Item 13: This percentage is calculated based upon 64,383,030 Common Shares outstanding on May 11, 2026, as reported in the Issuer's Management's Discussion & Analysis included as an exhibit to its Form 6-K filed with the Securities and Exchange Commission on May 13, 2026. Y Tether International, S.A. de C.V. WC Y H3 0.00 12852125.00 0.00 12852125.00 12852125.00 N 20.0 OO Note in relation to Item 13: This percentage is calculated based upon 64,383,030 Common Shares outstanding on May 11, 2026, as reported in the Issuer's Management's Discussion & Analysis included as an exhibit to its Form 6-K filed with the Securities and Exchange Commission on May 13, 2026. 0002049832 N Tether Investments, S.A. de C.V. WC Y H3 0.00 7502502.00 0.00 7502502.00 7502502.00 N 11.7 OO Note in relation to Item 13: This percentage is calculated based upon 64,383,030 Common Shares outstanding on May 11, 2026, as reported in the Issuer's Management's Discussion & Analysis included as an exhibit to its Form 6-K filed with the Securities and Exchange Commission on May 13, 2026. 0002050373 N Giancarlo Devasini OO N L6 0.00 20354627.00 0.00 20354627.00 20354627.00 N 31.6 IN Note in relation to Items 8, 10 and 11: Includes 12,852,125 Common Shares held by Tether International, S.A. de C.V., a controlled subsidiary of Tether Global Investments Fund, S.I.C.A.F., S.A. and 7,502,502 Common Shares of held by Tether Investments, S.A. de C.V., a controlled subsidiary of Tether Global Investments Fund, S.I.C.A.F., S.A. Mr. Devasini has a greater than 50% voting interest in Tether Global Investments Fund, S.I.C.A.F., S.A. The reporting person disclaims beneficial ownership of these shares except to the extent of the reporting person's pecuniary interest. Note in relation to Item 13: This percentage is calculated based upon 64,383,030 Common Shares outstanding on May 11, 2026, as reported in the Issuer's Management's Discussion & Analysis included as an exhibit to its Form 6-K filed with the Securities and Exchange Commission on May 13, 2026. Common Shares, no par value Elemental Royalty Corporation 10001 W. Titan Road Littleton CO 80125 This statement on Schedule 13D amends the Schedule 13D of Tether Global Investments Fund, S.I.C.A.F., S.A., an El Salvador entity, Tether Investments, S.A. de C.V., an El Salvador entity ("Tether Investments"), Tether International, S.A. de C.V., an El Salvador entity, and Giancarlo Devasini (collectively, the "Reporting Persons") that was originally filed with the Securities and Exchange Commission (the "SEC") on March 26, 2026 (as amended, the "Schedule 13D") with respect to the Common Shares, no par value ("Common Shares") of Elemental Royalty Corporation, a corporation incorporated in British Columbia, Canada (the "Issuer"). This amendment to the Schedule 13D is being filed by the Reporting Persons and constitutes Amendment No. 1 to the Schedule 13D. Capitalized terms used but not defined herein have the meanings given to such terms in the Schedule 13D. Except as set forth herein, the Schedule 13D is unmodified. Item 4 is hereby amended and supplemented to add the following: Effective on June 30, 2026, Tether Investments transferred 3,444,458 Common Shares to Tether International, S.A. de C.V. (the "Transfer"). The Transfer resulted in no change in the aggregate number of Common Shares beneficially owned by the Reporting Persons. The Reporting Persons beneficially own an aggregate of 20,354,627 Common Shares representing 31.6% of the outstanding Common Shares. This percentage is calculated based upon 64,383,030 Common Shares outstanding on May 11, 2026, as reported in the Issuer's Management's Discussion & Analysis included as an exhibit to its Form 6-K filed with the Securities and Exchange Commission on May 13, 2026. Tether Global Investments Fund, S.I.C.A.F., S.A. and Giancarlo Devasini each have shared voting and dispositive power with respect to 20,354,627 Common Shares. Tether International, S.A. de C.V. has shared voting and dispositive power with respect to 12,852,125 Common Shares. Tether Investments has shared voting and dispositive power with respect to 7,502,502 Common Shares. Except for the Transfer, no transactions in the Common Shares were effected by the Reporting Persons in the last 60 days. None. Not applicable. Schedule A Executive Officers and Directors 99.1 Agreement of filing persons relating to filing of joint statement per Rule 13d-1(k) Tether Global Investments Fund, S.I.C.A.F., S.A. /s/ Omar Rossi 07/02/2026 Tether International, S.A. de C.V. /s/ Giancarlo Devasini 07/02/2026 Tether Investments, S.A. de C.V. /s/ Giancarlo Devasini 07/02/2026 Giancarlo Devasini /s/ Giancarlo Devasini 07/02/2026