Sandstorm Gold Royalties Completes Arrangement with Royal Gold

Sandstorm Gold Ltd. has completed its previously announced plan of arrangement with Royal Gold, Inc. Under this arrangement, Royal Gold has acquired all of the issued and outstanding common shares of Sandstorm. Sandstorm shareholders are entitled to receive 0.0625 of a share of common stock of Royal Gold for each Sandstorm Share held. The Sandstorm Shares are expected to be delisted from the Toronto Stock Exchange and the New York Stock Exchange within two to three business days following the completion of the arrangement. Sandstorm will also apply to cease being a reporting issuer in applicable jurisdictions and will deregister the Sandstorm Shares under the U.S. Securities Exchange Act of 1934. Shareholders are advised to review the Management Information Circular dated September 8, 2025, for details on receiving the consideration for their shares.