Principal Properties2013 Interactive Annual Report

Note: The following principal properties, as of June 20, 2013, were determined by historical and future potential revenues, upon consideration of reserves, production estimates feasibility studies, metal price assumptions, and mine lives.

Holt

OPERATOR: St Andrews Goldfields
ROYALTY: 0.0013 x average monthly gold price - NSR (sliding-scale)
LOCATION: Ontario Canada
FY2013 REVENUE: $19.0M
FY2013 PRODUCTION: ¹ 56,400 oz. gold
RESERVES: (12/31/12): 0.5M oz. gold

Mulatos

OPERATOR: Alamos
ROYALTY: 1.0% to 5.0% NSR (sliding-scale)
LOCATION: Sonora, Mexico
FY2013 REVENUE: $17.4M
FY2013 PRODUCTION: ^{1, 2} 218,000 oz. gold
RESERVES: (12/31/12): 1.4M oz. gold

Robinson

OPERATOR: KGHM
ROYALTY: 3.0% NSR
LOCATION: Nevada, United States
FY2013 REVENUE: $15.7M
FY2013 PRODUCTION: 49,100 oz. gold; 146.2M lbs. copper
RESERVES: (12/31/11): 0.8M oz. gold; 1.3B lbs copper

Cortez

OPERATOR: Barrick
ROYALTY: 0.40% to 5.0% GSR1 and GSR2 (sliding-scale); 0.71% GSR3; and 0.39% NVR1
LOCATION: Nevada, United States
FY2013 REVENUE: $9.0M
FY2013 PRODUCTION: ¹ 82,100 oz. gold
RESERVES (12/31/12): 5.6M oz. gold

Canadian Malartic

OPERATOR: Osisko
ROYALTY: 1.0 to 1.5% NSR (sliding-scale)
LOCATION: Quebec, Canada
FY2013 REVENUE: $8.0M
FY2013 PRODUCTION: ¹ 347,000 oz. gold
RESERVES: (12/31/12): 4.3M oz. gold

LasCruces

OPERATOR: First Quantum Minerals
ROYALTY: 3 1.5% NSR
LOCATION: Andalucia, Spain
FY2013 REVENUE: $8.0M
FY2013 PRODUCTION: ¹ 153.4M lbs. copper
RESERVES (12/31/12): 1.7B lbs. copper

Wolverine

OPERATOR: Yukon Zinc
ROYALTY: 0.0% to 9.445% NSR (sliding-scale)
LOCATION: Yukon Territory, Canada
FY2013 REVENUE: $6.4M
FY2013 PRODUCTION:¹ 11,300 oz. gold; 2.8M oz. silver
RESERVES (12/31/11): 0.2M oz. gold; 39.5M oz. silver

Reported production relates to the amount of metal sales that are subject to our royalty interests for the fiscal year ended June 30, 2013, as reported to us by the operators of the mines.
The royalty is capped at 2.0 million ounces of production. There have been approximately 1.1 million ounces of cumulative production as of June 30, 2013.
Royalty is payable only when LME cash settlement price for Grade A copper is equivalent or greater than $0.80 per pound of copper.