As a result of the transaction, Barrick will own 20 980 276 ordinary shares, representing approximately 12.5% of Royal Road’s issued and outstanding ordinary shares, on a non-diluted basis (after giving effect to the subscription by Barrick and a concurrent offering to other investors expected to be completed by Royal Road).  Barrick has acquired the ordinary shares for investment purposes. Depending on market conditions and other factors, including Royal Road’s business and financial condition, Barrick may, subject to the investor rights agreement entered into in connection with the transaction, acquire additional ordinary shares or other securities of Royal Road or dispose of some or all of the ordinary shares or other securities of Royal Road that it owns at such time.