ROYAL GOLD INC

CUSIP: 780287AA6 Class: CNV

Hilton Capital Management, LLC's Holding History (CIK: 0001541211)

Note: Option positions (PUT/CALL) are excluded.

Q1 2016

Shares 11,000 Value ($000) $11 Avg Close — Range —

Q4 2015

Shares 11,000 Value ($000) $10 Avg Close — Range —

Q3 2015

Shares 11,000 Value ($000) $11 Avg Close — Range —

Q2 2015

Shares 11,000 Value ($000) $11 Avg Close — Range —

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2016	11,000	$11	—	—
Q4 2015	11,000	$10	—	—
Q3 2015	11,000	$11	—	—
Q2 2015	11,000	$11	—	—