SCHEDULE: BlackRock Discloses 6.9% Stake in OR Royalties Inc.

BlackRock Portfolio Management LLC has disclosed a 6.9% beneficial ownership stake in OR Royalties Inc. as of December 31, 2025.

Summary

• BlackRock Portfolio Management LLC, a Delaware-organized entity, has filed a Schedule 13G (Amendment No. 1) disclosing its beneficial ownership in OR Royalties Inc.
• As of December 31, 2025, BlackRock Portfolio Management LLC beneficially owns 12,977,829 shares of OR Royalties Inc. Common Stock.
• This ownership represents 6.9% of the total class of securities.
• BlackRock Portfolio Management LLC holds sole voting power over 12,503,550 shares and sole dispositive power over 12,977,829 shares.
• The filing states that the securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of the issuer.
• Several BlackRock subsidiaries, including BlackRock Life Limited, BlackRock Advisors, LLC, and BlackRock Investment Management (UK) Limited, are identified as entities that beneficially own 5% or greater of the outstanding shares.

Sentiment

Score: 5

Explanation: The filing is a factual disclosure of beneficial ownership and does not contain information that would inherently suggest a positive or negative sentiment regarding the issuer's performance or outlook.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding OR Royalties Inc.'s future performance or BlackRock's future investment intentions beyond the current ownership disclosure.

Management Comments

• Spencer Fleming, Managing Director of BlackRock Portfolio Management LLC, certified that, to the best of his knowledge and belief, the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of OR Royalties Inc.

Industry Context

This filing indicates continued institutional interest in OR Royalties Inc. from a major global asset manager, BlackRock. Such disclosures are routine for large investment firms managing diverse portfolios and reflect their passive investment positions rather than active strategic moves related to the issuer's operations.

Stakeholder Impact

• Shareholders of OR Royalties Inc. are informed of a significant institutional investor's stake, which can influence market perception and liquidity.
• The disclosure provides transparency regarding the ownership structure of the company.

Key Dates

Keywords

BlackRock, OR Royalties, Schedule 13G, Beneficial Ownership, Institutional Investor, Common Stock, Equity Stake, Asset Management