40 Streaming & Royalty Market is Growing 2025 was a record year for transactions & corporate M&A Source: Royal Gold, internal tracking files & Scotiabank. 2026 data includes transactions up to March 25, 2026. $1,032 $373 $2,151 $3,091 $1,443 $4,354 $1,924 $1,846 $2,270 $874 $3,132 $3,299 $3,340 $1,825 $3,305 $4,853 $6,013 $843 $98 $579 $99 $255 $41 $628 $1,357 $136 $183 $5,386 $1,874 $373 $2,151 $3,189 $2,023 $4,453 $1,924 $1,846 $2,270 $1,130 $3,173 $3,928 $4,697 $1,961 $3,488 $10,239 $6,013 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Industry Transactions Stream & Royalty Corporate Figures shown in US$M