Financial Analysis

COMMITMENTS AND CONTINGENCIES Warintza Project Stream and Royalty Acquisition As of December 31, 2025 , our conditional funding schedule of $100.0 million related to the acquisition of the Warintza Gold Stream and Royalty Agreements made on May 21, 2025 (Note 4) remains subject to certain conditions. Ilovica Gold Stream Acquisition As of December 31, 2025, our conditional funding schedule of $163.75 million, as part of the Ilovica gold stream acquisition entered into in October 2014, remains subject to certain conditions.

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DEBT The Companys debt for the years ended December 31, 2025 and 2024, consists of the following (amounts in thousands): As of December 31, 2025 As of December 31, 2024 Principal Debt Issuance Costs Total Principal Debt Issuance Costs (1) Total Revolving credit facility $ 900,000 $ (4,564) $ 895,436 $ $ $ Total debt $ 900,000 $ (4,564) $ 895,436 $ $ $ _______________________________________________ (1) Debt issuance costs of $3.1 million are included within Other assets on our consolidated balance sheets. Revolving Credit Facility On June 26, 2025, we entered into a sixth amendment to our revolving credit facility dated June 2, 2017, as amended. The amendment extended the maturity date from June 28, 2028, to June 30, 2030, increased the size of the accordion feature from $250.0 million to $400.0 million and revised the leverage ratio required to be less than or equal to 4.00:1.00 at all times, rather than 4.00:1.00 for only the two fiscal quarters following the consummation of a material permitted acquisition (as defined) and 3.50:1.00 at all other times. In July 2025, we notified the members of the credit syndication group of our exercise of the accordion feature and received commitments from the group for the full $400.0 million of increased capacity. On August 5, 2025, we closed on the accordion feature with our credit syndication group, bringing our total committed revolving credit facility to $1.4 billion. During the year ended December 31, 2025, we borrowed $1.275 billi …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

Revenue by metal type attributable to each of our revenue sources is disaggregated as follows (amounts in thousands): Years Ended December 31, 2025 December 31, 2024 December 31, 2023 Stream revenue: Gold $ 547,867 $ 367,492 $ 307,797 Silver 92,383 66,812 64,851 Copper 44,254 48,990 45,632 Other 1,968 Total stream revenue $ 686,472 $ 483,294 $ 418,280 Royalty revenue: Gold $ 252,018 $ 176,888 $ 154,327 Silver 28,455 18,702 8,554 Copper 32,537 17,776 11,792 Other 30,989 22,735 12,764 Total royalty revenue $ 343,999 $ 236,101 $ 187,437 Total revenue $ 1,030,471 $ 719,395 $ 605,717 Revenue by metal type attributable to each of our principal property revenue sources is disaggregated as follows (amounts in thousands): Years Ended Metal(s) December 31, 2025 December 31, 2024 December 31, 2023 Stream revenue: Mount Milligan Gold & Copper $ 223,713 $ 186,039 $ 158,167 Pueblo Viejo Gold & Silver 129,830 83,059 76,247 Andacollo Gold 77,896 47,531 48,920 Kansanshi Gold 32,279 Other Various 222,754 166,665 134,946 Total stream revenue $ 686,472 $ 483,294 $ 418,280 Royalty revenue: Cortez Legacy Zone Gold $ 31,823 $ 58,183 $ 79,920 Cortez CC Zone Gold 35,715 11,611 14,626 Other Various 276,461 166,307 92,891 Total royalty revenue $ 343,999 $ 236,101 $ 187,437 Total revenue $ 1,030,471 $ 719,395 $ 605,717 …

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STOCK-BASED COMPENSATION Our stockholders approved our 2025 Incentive Plan (the 2025 Plan), effective May 22, 2025, which serves as the successor to our 2015 Omnibus Long-Term Incentive Plan (as amended, the 2015 LTIP) and provides for the issuance of incentive stock options, non-qualified stock options, stock appreciation rights, restricted stock, restricted stock units, performance awards, other stock-based awards, and cash-based awards to qualified employees, officers, directors, consultants and advisors. No new awards will be issued under the 2015 LTIP as of the effective date of the 2025 Plan. Outstanding awards under the 2015 LTIP continue to be subject to the terms and conditions of the 2015 LTIP. As of the effective date of the 2025 Plan, 2,114,883 shares of common stock were available for future awards under the 2025 Plan. In addition, awards granted under the 2015 LTIP that were outstanding as of the effective date of the 2025 Plan and which expire, terminate or are otherwise surrendered, cancelled, forfeited or repurchased by us at their original issuance price pursuant to a contractual repurchase right are added to the shares available for future awards under the 2025 Plan. We recognized stock-based compensation expense as follows (amounts in thousands): Years Ended December 31, 2025 December 31, 2024 December 31, 2023 Restricted stock $ 7,091 $ 7,049 $ 6,191 Performance stock 4,714 4,843 2,953 Stock appreciation rights 533 Stock options 19 Total stock-based compe …

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FAIR VALUE MEASUREMENTS Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, we utilize a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1: Quoted prices for identical instruments in active markets; Level 2: Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets; and Level 3: Prices or valuation techniques requiring inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity). The following table sets forth our financial assets measured at fair value on a recurring basis (at least annually) by level within the fair value hierarchy. Fair Value at December 31, 2025 Total Level 1 Level 2 Level 3 (in thousands) Assets (1) : Available-for-sale equity securities $ 120,814 $ 120,814 $ $ Available-for-sale debt securities 52,066 52,066 Fair Value at December 31, 2024 Total Level 1 Level 2 Level 3 (in thousands) Assets (1) : …

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INCOME TAXES For financial reporting purposes, Income before income taxes includes the following components (amounts in thousands): Years Ended December 31, 2025 December 31, 2024 December 31, 2023 United States $ 153,710 $ 127,366 $ 64,105 Foreign 420,156 298,726 218,035 Income before income taxes $ 573,866 $ 426,092 $ 282,140 Our Income tax expense consisted of (amounts in thousands): Years Ended December 31, 2025 December 31, 2024 December 31, 2023 Current: Federal $ 43,294 $ 51,643 $ 24,046 State (716) 715 (68) Foreign 63,638 32,901 24,499 Current tax expense $ 106,216 $ 85,259 $ 48,477 Deferred and others: Federal $ 589 $ (92) $ (763) State 104 (2) (14) Foreign (4,619) 8,448 (5,692) Deferred tax expense $ (3,926) $ 8,354 $ (6,469) Total income tax expense $ 102,290 $ 93,613 $ 42,008 The provision for income taxes for the years ended December 31, 2025, 2024, and 2023 differs from the amount of income tax determined by applying the applicable United States statutory federal income tax rate to pre-tax income (net of non- controlling interest in income of consolidated subsidiary and loss from equity investment) from operations as a result of the following differences (amounts in thousands): Years Ended December 31, 2025 December 31, 2024 December 31, 2023 Tax Effected Rate Tax Effected Rate Tax Effected Rate Income taxes at statutory rates $ 120,512 21.0 % $ 89,479 21.0 % $ 59,249 21.0 % State income taxes, net of federal benefit 429 0.1 % 914 0.2 % 625 0.2 % Foreign tax eff …

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LEASES Our significant lease arrangements relate to our office spaces. These arrangements are for leases of assets such as corporate office space and office equipment. We lease office space and office equipment under operating leases expiring at various dates between 2028 and 2039. In connection with the Transaction, we recognized lease liabilities of $32.9 million, measured using our incremental borrowing rate, and corresponding right-of-use assets of $30.7 million related to acquired office space leases. Certain office lease agreements include options to extend the lease for up to ten years. Office lease extension periods are not included in the lease terms used to calculate the lease liabilities and right-of-use assets. The Company's leases do not generally include options to terminate the lease prior to the end of the lease term. Variable lease payments, such as common area maintenance charges, property taxes, and other operating expenses, are recognized as lease expense in the period in which the obligation is incurred. The following amounts were recorded in the consolidated balance sheets as of December 31, 2025 and 2024 (amounts in thousands): Classification December 31, 2025 December 31, 2024 Operating Leases Right-of-use assets - non-current Other assets 33,757 4,318 Lease liabilities - current Other current liabilities $ 4,246 $ 965 Lease liabilities - non-current Other long-term liabilities 32,964 4,003 Total operating lease liabilities $ 37,210 $ 4,968 Total opera …

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New Accounting Standards Recently Adopted Accounting Standards In December 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures to expand the disclosure requirements for income taxes, specifically related to the rate reconciliation and income taxes paid. ASU 2023-09 is effective for our annual periods beginning January 1, 2025, with early adoption permitted. We adopted this guidance retrospectively for the periods ending December 31, 2025, 2024 and 2023. The changes are reflected in the tax footnote with no impacts to our financial condition or results of operations. See Note 14 for more detail. In November 2023, the FASB issued ASU 2023-07 Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures which expands annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 is effective for our annual periods beginning January 1, 2024, and for interim periods beginning January 1, 2025, with early adoption permitted. We adopted this guidance prospectively for the period ending December 31, 2025, and it only impacted our disclosures with no impacts to our financial condition or results of operations. See Note 18 for more detail. Recently Issued Accounting Standards In November 2024, the FASB issued ASU No. 2024-03, Income Statement - Reporting Comprehe …

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MOUNT MILLIGAN DEFERRED LIABILITY On February 13, 2024, RGLD Gold entered into a Cost Support Agreement (the Mount Milligan Cost Support Agreement) with Centerra Gold Inc. (Centerra), whereby RGLD Gold has agreed, subject to the terms and conditions set forth therein, to provide cost support payments for gold and copper deliveries under the existing stream agreement with respect to the Mount Milligan mine for cash consideration of $24.5 million, 50,000 ounces of gold to be delivered in the future (Deferred Gold Consideration) and a free cash flow interest. The value of the cash consideration, free cash flow interest received from Centerra and Deferred Gold Consideration is recorded as a deferred liability in our consolidated balance sheets as of December 31, 2025. On October 3, 2025, we received and subsequently sold 11,111 ounces of the Deferred Gold Consideration for proceeds of $44.2 million. The proceeds from the sale of Deferred Gold Consideration do not impact revenue and are recorded as operating cash flows in the consolidated statements of cash flows. As of December 31, 2025, the balance of the deferred liability was $69.2 million and 38,889 ounces of the Deferred Gold Consideration remain outstanding. REVENUE Revenue Recognition A performance obligation is a promise in a contract to transfer control of a distinct good or service (or integrated package of goods and/or services) to a customer. A contracts transaction price is allocated to each distinct performance obli …

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SEGMENT INFORMATION We manage our business under two reportable segments, consisting of the acquisition and management of stream interests and the acquisition and management of royalty interests. Our President and Chief Executive Officer serves as our Chief Operating Decision Maker (CODM) and is responsible for reviewing segment performance and making decisions regarding resource allocation. In addition to revenue, our CODM regularly reviews cost of sales, production taxes and depletion for each of our reportable segments. Royal Golds long-lived assets (stream and royalty interests, net) as of December 31, 2025 and 2024 are geographically distributed as shown in the following table (amounts in thousands): As of December 31, 2025 As of December 31, 2024 Stream interest Royalty interest Total stream and royalty interests, net Stream interest Royalty interest Total stream and royalty interests, net North America $ 1,214,810 $ 1,834,921 $ 3,049,731 $ 719,765 $ 1,520,147 $ 2,239,912 South and Central America 1,045,620 1,846,211 2,891,831 284,340 249,901 534,241 EMEA 2,270,717 309,467 2,580,184 249,065 321 249,386 Australia Pacific 13,595 48,534 62,129 19,265 19,265 Total (1) $ 4,544,742 $ 4,039,133 $ 8,583,875 $ 1,253,170 $ 1,789,634 $ 3,042,804 _______________________________________________________ (1) Includes the carrying value of all stream and royalty interests acquired during the years ended December 31, 2025 and 2024. Our reportable segments for purposes of assessing perfo …

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COMMITMENTS AND CONTINGENCIES Warintza Project Conditional Funding On April 14, 2026, after the technical approval of the environmental impact assessment and publication of a pre-feasibility study for the Warintza project, we advanced Solaris Resources, Inc. ( Solaris ) $50 million of the $100 million outstanding conditional funding. The $50 million advance was recorded as a development stage stream interest and included within Stream and royalty interests, net in the consolidated balance sheets. Th e remaining $50 million payable to Solaris is subject to the completion of all filings necessary to perfect security in Ecuador, which is underway, and payment is anticipated in the third or fourth quarter of 2026. Ilovica Gold Stream Acquisition As of June 30, 2026, our conditional funding schedule of $163.75 million, as part of the Ilovica gold stream acquisition entered into in October 2014, remains subject to certain conditions. …

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DEBT The Company's debt as of June 30, 2026 and December 31, 2025 consists of the following (amounts in thousands): As of June 30, 2026 As of December 31, 2025 Principal Debt Issuance Costs Total Principal Debt Issuance Costs Total Revolving credit facility $ 400,000 $ (4,108) $ 395,892 $ 900,000 $ (4,564) $ 895,436 Total debt $ 400,000 $ (4,108) $ 395,892 $ 900,000 $ (4,564) $ 895,436 Revolving credit facility On May 5, 2026, we entered into a seventh amendment to the revolving credit facility that added a new $600 million uncommitted accordion feature to the revolving credit facility. The new accordion feature permits the Company to request additional commitments from the credit facility bank syndicate that would increase aggregate commitments under the revolving credit facility to up to $2.0 billion, subject to customary conditions, including the consent of each lender providing an additional commitment. During the six months ended June 30, 2026, we repaid $500 million of outstanding borrowings on our revolving credit facility leaving $400 million outstanding and $1 billion available under our revolving credit facility as of June 30, 2026. We were in compliance with each financial covenant (leverage ratio and interest coverage ratio) under our revolving credit facility as of June 30, 2026. Interest expense, which includes interest on outstanding borrowings and amortization of the debt issuance costs, was $6.1 million and $15.8 million for the three and six months ended Jun …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

Revenue by metal type attributable to each of our revenue sources is disaggregated as follows (amounts in thousands): Three Months Ended Six Months Ended June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Stream revenue: Gold $ 248,924 $ 104,454 $ 485,370 $ 199,016 Silver 44,799 19,047 97,533 37,746 Copper 15,174 9,690 36,873 18,911 Zinc 2,067 $ 3,965 $ Total stream revenue $ 310,964 $ 133,191 $ 623,741 $ 255,673 Royalty revenue: Gold $ 94,932 $ 59,862 $ 192,395 $ 111,026 Silver 10,793 5,017 31,072 9,917 Copper 22,679 5,074 47,650 12,665 Other 11,171 6,499 24,806 13,799 Total royalty revenue $ 139,575 $ 76,452 $ 295,923 $ 147,407 Total revenue $ 450,539 $ 209,643 $ 919,664 $ 403,080 Revenue attributable to our principal stream and royalty interests is disaggregated as follows (amounts in thousands): Three Months Ended Six Months Ended Metal(s) June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Stream revenue: Mount Milligan Gold & Copper $ 57,576 $ 63,655 $ 114,898 $ 106,463 Pueblo Viejo Gold & Silver 44,904 25,619 100,773 54,369 Andacollo Gold 49,107 9,489 76,258 22,234 Kansanshi Gold 34,303 59,814 Other (1) Various 125,074 34,428 271,998 72,607 Total stream revenue $ 310,964 $ 133,191 $ 623,741 $ 255,673 Royalty revenue: Cortez Legacy Zone Gold $ 16,312 $ 8,508 $ 32,738 $ 19,650 Cortez CC Zone Gold 9,651 8,088 18,444 11,642 Other (1) Various 113,612 59,856 244,741 116,115 Total royalty revenue $ 139,575 $ 76,452 $ 295,923 $ 147,407 Total revenue $ 450,539 …

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STOCK-BASED COMPENSATION We recognized stock-based compensation expense as follows (amounts in thousands): Three Months Ended Six Months Ended June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Restricted stock $ 1,857 $ 1,884 $ 4,042 $ 3,896 Performance stock 1,437 830 2,844 2,015 Total stock-based compensation expense $ 3,294 $ 2,714 $ 6,886 $ 5,911 Stock-based compensation expense is included within General and administrative expense in the consolidated statements of operations and comprehensive income. We granted the following stock-based compensation awards: Three Months Ended Six Months Ended June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025 (Number of shares) (Number of shares) Performance stock (at maximum 200% attainment) 39,034 72,120 Restricted stock 32,578 50,264 Total equity awards granted 71,612 122,384 As of June 30, 2026, unrecognized compensation expense (expressed in thousands below) and weighted-average vesting period for each of our stock-based compensation awards were as follows: Unrecognized compensation expense Weighted- average vesting period (years) Restricted stock $ 11,821 2.1 Performance stock 9,569 2.1 …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

FAIR VALUE MEASUREMENTS Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, we utilize a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1: Quoted prices for identical instruments in active markets; Level 2: Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets; and Level 3: Prices or valuation techniques requiring inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity). The following table sets forth our financial assets measured at fair value on a recurring basis (at least annually) by level within the fair value hierarchy. Fair Value at June 30, 2026 Total Level 1 Level 2 Level 3 (in thousands) Assets (1) : Available-for-sale equity securities $ 132,087 $ 132,087 $ $ Fair Value at December 31, 2025 Total Level 1 Level 2 Level 3 (in thousands) Assets (1) : Available-for-sale equity securities $ 120,814 $ 120, …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

INCOME TAXES The following table provides the income tax expense (amounts in thousands) and effective tax rates for the periods indicated: Three Months Ended Six Months Ended June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Income tax expense $ 58,241 $ 10,538 $ 83,638 $ 20,927 Effective tax rate 19.7 % 7.4 % 13.9 % 7.8 % The effective tax rate for the three months ended June 30, 2025, included a $9.3 million discrete benefit related to a withholding tax refund on a foreign royalty and a discrete tax benefit of $4.3 million attributable to the release of a valuation allowance. The effective tax rate for the six months ended June 30, 2026, included a $33.7 million discrete benefit for a change in a foreign tax rate. The effective tax rate for the six months ended June 30, 2025, included a $12.0 million discrete benefit for additional recoverable basis in foreign jurisdictions, a $4.3 million discrete benefit attributable to the release of a valuation allowance, and a $11.0 million discrete benefit attributable related to withholding tax refunds on foreign royalties.

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Recently Adopted Accounting Standards In December 2025, the Financial Accounting Standards Board issued Accounting Standards Update 2025-12 Codification Improvements (ASU 2025-12) which addressed suggestions received from stakeholders on a broad range of topics arising from technical corrections, unintended application of the accounting standards codification, clarifications and other minor improvements. ASU 2025-12 is effective for fiscal years beginning after December 15, 2026, and interim reporting periods within those annual reporting periods, with early adoption permitted. ASU 2025-12 is permitted to be adopted on an issue by issue basis, and effective January 1, 2026, we elected to early adopt Issue 10 of ASU 2025-12 which clarifies methods to account for the retirement of treasury stock. The other issues within ASU 2025-12 that we elected not to early adopt will be effective for the Company's fiscal year beginning January 1, 2027. Recently Issued Accounting Standards We have evaluated all the recently issued, but not yet effective, accounting standards that have been issued or proposed by the Financial Accounting Standards Board or other standards-setting bodies through the filing date of these unaudited consolidated financial statements and except for ASU 2025-12, we do not believe the future adoption of any such standards will have a material impact on our consolidated financial statements. …

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MOUNT MILLIGAN DEFERRED LIABILITY On February 13, 2024, we entered into a Cost Support Agreement with Centerra Gold Inc. (Centerra) with respect to the Mount Milligan mine for cash consideration of $24.5 million, 50,000 ounces of gold to be delivered in the future (Deferred Gold Consideration) and a free cash flow interest. The value of the cash consideration and free cash flow interest received from Centerra, and proceeds from the sale of the Deferred Gold Consideration, is recorded as a deferred liability in our consolidated balance sheets. As of June 30, 2026, the balance of the deferred liability was $69.2 million and 38,889 ounces of Deferred Gold Consideration remain outstanding. REVENUE Revenue Recognition A performance obligation is a promise in a contract to transfer control of a distinct good or service (or integrated package of goods and/or services) to a customer. A contracts transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, a performance obligation is satisfied. In accordance with this guidance, revenue attributable to our stream interests and royalty interests is generally recognized at the point in time that control of the related metal production transfers to our customers. The amount of revenue we recognize further reflects the consideration to which we are entitled under the respective stream or royalty agreement. A more detailed summary of our revenue recognition policies for our stream and royalty …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

SEGMENT INFORMATION We manage our business under two reportable segments, consisting of the acquisition and management of stream interests and the acquisition and management of royalty interests. Our President and Chief Executive Officer serves as our Chief Operating Decision Maker (CODM) and is responsible for reviewing segment performance and making decisions regarding resource allocation. In addition to revenue, our CODM regularly reviews cost of sales, production taxes and depletion for each of our reportable segments. Royal Gold's long-lived assets (stream and royalty interests, net) are geographically distributed as shown in the following table (amounts in thousands): As of June 30, 2026 As of December 31, 2025 Stream interest Royalty interest Total stream and royalty interests, net Stream interest Royalty interest Total stream and royalty interests, net North America $ 1,168,007 $ 1,807,315 $ 2,975,322 $ 1,214,810 $ 1,834,921 $ 3,049,731 South and Central America 1,098,533 1,941,225 3,039,758 1,045,620 1,846,211 2,891,831 EMEA 2,252,997 272,892 2,525,889 2,270,717 309,467 2,580,184 Australia Pacific 11,433 48,067 59,500 13,595 48,534 62,129 Total $ 4,530,970 $ 4,069,499 $ 8,600,469 $ 4,544,742 $ 4,039,133 $ 8,583,875 Our reportable segments for purposes of assessing performance are shown below (amounts in thousands): Three Months Ended June 30, 2026 Revenue Cost of sales (1) Production taxes Depletion (2) Segment gross profit Stream interests $ 310,964 $ 60,094 $ $ 62, …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

STOCKHOLDERS' EQUITY Share Repurchase Program On May 4, 2026, the Board of Directors approved a $500 million share repurchase program under which we may repurchase shares from time to time through open market purchases or by other means. The manner, timing, pricing and amount of any repurchases under the program will be subject to management's discretion and may be based upon market conditions and alternative opportunities for the use or investment of capital. Although the Board of Directors has authorized the share repurchase program, we are not obligated to repurchase any specific dollar amount or to acquire any specific number of shares under the program. During the three months ended June 30, 2026, we repurchased 147,205 shares at an average price of $203.80 per share for total consideration of $30 million. The repurchased shares were cancelled and 84,673,027 shares remain outstanding as of June 30, 2026.

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