Acquisition of Sandstorm Gold and Horizon Copper (Tables)

12 Months Ended

Dec. 31, 2025

The total purchase price of $4.148 billion has been allocated to the net assets acquired based on their respective fair values as follows:


	(in thousands)
Cash	$	60,024
Royalty receivables	35,374
Income tax receivable	1,232
Prepaid expenses and other	1,170
Stream and royalty interests	4,561,177
Equity method investment	292,089
Marketable securities	380,269
Other assets	57,125
Accounts payable	(51,913)
Other current liabilities	(28,932)
Deferred tax liabilities	(1,076,909)
Other liabilities	(43,754)
Non-controlling interests	(38,797)
Total allocated purchase price	$	4,148,155

The pro forma results are not necessarily indicative of what would have been achieved had the Transaction been in effect for the periods presented.


	Years Ended
	December 31, 2025		December 31, 2024
	(unaudited, in thousands)
Revenue	$	1,209	$	904
Net income available to Royal Gold common stockholders	$	444	$	362