| BMO Capital Markets | Rene Cartier | Research Analyst |
| Cantor Fitzgerald | Mike Kozak | Research Analyst |
| Cormark Securities Inc. | Stefan Ioannou, PhD | Research Analyst |
| National Bank Financial | Rabi Nizami | Research Analyst |
| Raymond James | Brian MacArthur | Managing Director, Head of Mining Research |
| TD Securities Inc. | Craig Hutchinson | Vice President, Base Metals Analyst |
Trilogy Metals is followed by the research analysts listed above. Please note that any opinions, estimates or forecasts regarding TMQ’s performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of TMQ or its management. TMQ does not, by its reference below or distribution, imply its endorsement of, or concurrence with, such estimates, opinions, conclusions or forecasts. The information in no way should be construed or interpreted as, or as a part of, an offering or solicitation of securities. Please contact the research analyst’s firm directly to obtain a report.