Orogen Royalties Balance Sheet

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

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 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
Cash & Equivalents	6.56	14.33	6.38	3.66	2.87	3.62
Short-Term Investments	13.77	10.17	10.55	7.72	6.68	7.22
Cash & Short-Term Investments	20.33	24.5	16.93	11.37	9.56	10.84
Cash Growth	-5.57%	44.69%	48.88%	19.00%	-11.81%	12.32%
Accounts Receivable	2.93	3.64	2.31	1.21	0.9	0.1
Other Receivables	0.09	0.08	0.01	0.08	0.35	0.3
Receivables	3.02	3.72	2.32	1.29	1.25	0.4
Prepaid Expenses	0.14	0.08	0.15	0.07	0.11	0.06
Total Current Assets	23.49	28.3	19.4	12.73	10.92	11.29
Property, Plant & Equipment	4.95	41.34	41.85	40.17	40.53	41.87
Long-Term Deferred Tax Assets	-	-	1.23	-	-	-
Other Long-Term Assets	0.12	0.12	0.12	0.21	0.21	0.21
Total Assets	28.55	69.76	62.59	53.11	51.67	53.37
Accounts Payable	0.84	0.58	0.53	0.3	0.12	0.07
Accrued Expenses	0.06	0.09	0.15	0.12	0.06	0.05
Current Portion of Leases	0.07	0.06	0.06	0.05	0.07	0.16
Current Income Taxes Payable	0.64	0.41	-	-	-	-
Other Current Liabilities	0.24	0.31	0.14	0.17	0.44	0.59
Total Current Liabilities	1.85	1.45	0.88	0.65	0.68	0.87
Long-Term Leases	0.14	0.19	0.13	0.18	0.16	0.18
Long-Term Deferred Tax Liabilities	-	-	-	-	0.13	-
Total Liabilities	1.99	1.65	1.01	0.83	0.97	1.05
Common Stock	87.85	83.54	79.6	72.67	72.3	71.23
Additional Paid-In Capital	-	3.3	3.31	3.92	3.59	3.48
Retained Earnings	-61.29	-18.73	-21.32	-24.37	-25.21	-22.37
Comprehensive Income & Other	-	-	-	0.06	-	-
Shareholders' Equity	26.56	68.11	61.58	52.28	50.69	52.33
Total Liabilities & Equity	28.55	69.76	62.59	53.11	51.67	53.37
Total Debt	0.21	0.26	0.19	0.24	0.23	0.33
Net Cash (Debt)	20.12	24.24	16.74	11.14	9.33	10.5
Net Cash Growth	-5.88%	44.80%	50.30%	19.40%	-11.19%	10.96%
Net Cash Per Share	0.46	0.46	0.33	0.21	0.18	0.36
Filing Date Shares Outstanding	59.36	50.45	48.4	46.01	44.56	43.66
Total Common Shares Outstanding	59.36	50.41	48.36	44.8	44.52	43.66
Working Capital	21.64	26.85	18.52	12.08	10.24	10.42
Book Value Per Share	0.45	1.35	1.27	1.17	1.14	1.20
Tangible Book Value	26.56	68.11	61.58	52.28	50.69	52.33
Tangible Book Value Per Share	0.45	1.35	1.27	1.17	1.14	1.20
Machinery	0.55	0.55	0.55	0.55	0.54	0.68
Leasehold Improvements	0.02	0.02	0.02	0.02	0.02	0.02

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.