According to the lip reader, the Grammy-winning artist greeted the former Hollywood actress with an informal nod to her status.
"Hi, my princess," Beyoncé, 37, said to the Duchess of Sussex.
The two women then warmly hugged each other inside the Odeon cinema at Leicester Square, before Beyoncé cooed: "The baby, so beautiful."
According to the lip reader, the conversation went as follows:
"We love you guys," Meghan said to the musical couple before introducing her husband, the Duke of Sussex.
"You’ve been rather busy," Harry then quipped to mum-of-three, Beyoncé.
"Congratulations on the birth of your baby," Jay-Z said to Harry and Meghan.
"And how are the twins" asked Prince Harry, referring to the Carter's youngest children, Rumi and Sir, 2.
"They are not here. They don’t come on every trip," replied Beyoncé. "We left them at home. They would loved to have been here."
Beyoncé and Jay Z are known fans of the royal couple, even paying tribute to the Duchess of Sussex during Black History Month by posting a portrait of Meghan Markle in on old royal attire onto their website.
Move over Amal and George, you've been replaced!