Diversified portfolio of royalties

11 principal royalty assets across five continents. Over 82% of royalties by value, across five commodities, are in production.

COMMODITY EXPOSURE – 31/12/2015

Coking Coal

Thermal Coal

Iron ore

Gold

Uranium

Other

GEOGRAPHIC EXPOSURE – 31/12/2015

Australia

Brazil

Spain

Canada

Other

STAGE OF PRODUCTION – 31/12/2015

Producing

Development

Early Stage