Revenue by Segment

Financials in millions CAD. Fiscal year is January - December.

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2017
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	Dec '19 Dec 31, 2019	Dec '18 Dec 31, 2018	Dec '17 Dec 31, 2017	Apr '17 Apr 30, 2017
Mineral Royalties	55.50M	54.35M	63.14M	97.64M	83.52M
Mineral Royalties Growth	2.13%	-13.92%	-35.34%	16.91%	24.40%
Renewable Royalties	14.41M	9.64M	6.23M	5.83M	411.00K
Renewable Royalties Growth	49.53%	54.80%	6.85%	1317.76%	12.91%
Project Generation	139.00K	453.00K	3.13M	5.25M	504.00K
Project Generation Growth	-69.32%	-85.51%	-40.43%	941.27%	-
Unallocated Adjustment for Joint Ventures	-16.31M	-6.27M	-3.53M	-6.67M	-2.75M
Total	53.75M	58.17M	68.96M	102.05M	81.68M
Total Growth	-7.61%	-15.64%	-32.43%	24.93%	36.01%

Source: S&P Global Market Intelligence.