Acquisition | SANDSTORM GOLD LTD | 20th October 2025

On July 7, 2025, SANDSTORM GOLD LTD announced the company has entered into a definitive arrangement with ROYAL GOLD INC, pursuant to which ROYAL GOLD INC will acquire all of the issued and outstanding shares of SANDSTORM GOLD LTD in an all-share transaction. SANDSTORM GOLD LTD shareholders will receive 0.0625 of a share of common stock of ROYAL GOLD INC. On October 9, 2025, the deal has been approved by the shareholder meeting. The closing of the transaction is anticipated to occur on October 20, 2025, subjected to the satisfaction or waiver of the remaining customary closing conditions. Following the completion of the transaction, the company expects to delist its shares from Toronto Stock Exchange, with effective date October 20, 2025.

The treatment below will be applied to the following indices:

• SANDSTORM GOLD LTD will be removed from the Index.
• The weight of SANDSTORM GOLD LTD (SSL.TO) based on its last close price will be distributed pro rata to remaining Index constituents.
• Effective Date (open): 20/10/2025

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• SANDSTORM GOLD LTD will be removed from the Index.
• The shares of ROYAL GOLD INC (RGLD.OQ) will be increased according to the stock terms of the transaction.
• Effective Date (open): 20/10/2025

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