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Here are 1-3 brief analogies for Royalty Management (RMCO):

• It's like Royalty Pharma, but instead of just drug royalties, it acquires ongoing income streams (royalties) from a much wider range of assets like natural resources, patents, and digital content.
• Imagine it as a kind of REIT (Real Estate Investment Trust), but instead of owning buildings and collecting rent, it owns and collects royalties from a diverse portfolio of non-real estate assets like natural resources, intellectual property, and digital assets.

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• Natural Resource Royalties: Income streams derived from the company's investments in undervalued natural resource assets such as oil, gas, minerals, or timber.
• Patent Royalties: Income streams derived from the company's investments in patents, receiving payments for the use of those patents by third parties.
• Intellectual Property Royalties: Income streams derived from the company's investments in various forms of intellectual property beyond patents, including trademarks, copyrights, or trade secrets.
• Digital Asset Royalties: Income streams derived from the company's investments in various digital assets, such as NFTs, software licenses, or other digital forms.

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Based on its business model as a royalty company, Royalty Management Holding Corporation (RMCO) does not have traditional "customers" to whom it sells products or services.

Instead, RMCO's revenue is derived from royalty payments received from entities that operate, license, or exploit the natural resources, patents, intellectual property, and digital assets in which RMCO holds an investment or royalty interest. These entities are not considered customers purchasing goods or services from RMCO.

The specific names of the entities making these royalty payments are not publicly disclosed by Royalty Management as major customers.

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Thomas M. Sauve, Chief Executive Officer, Director

An entrepreneur with over 20 years of experience leading businesses from startup to maturity, Thomas M. Sauve has managed the due diligence, closing, staffing, and ramp-up processes for numerous companies and technologies, demonstrating a history of successfully identifying opportunities aligned with investment theses. Mr. Sauve founded Royalty Management Holding Corporation in 2021. He is also a founder of ReElement Technologies Corp. (2017), where he served as Head-Business Strategy & Development, and founded T Squared Partners LLC and T Squared Capital LLC. His prior roles include serving as President of American Resources Corporation since 2015, where he successfully integrated eight acquisitions, and as CEO & Director of American Acquisition Opportunity, Inc. He possesses over 18 years of experience in entity formation, land and lease management acquisition integration, and more than 20 years of expertise in finance, resources, public company operations, and mergers and acquisitions.

Amanda C. Kruse, CPA, Chief Financial Officer

Amanda C. Kruse oversees all financial reporting and accounting for Royalty Management Holding Corporation, a role she assumed in 2025. Ms. Kruse brings over 15 years of experience in public and financial accounting, having previously served as Controller for Royalty Management Holding Corporation. Her expertise includes implementing scalable accounting and financial processes and platforms to ensure robust checks, balances, and cost controls across various organizations. She holds a Bachelor of Science in Business and a Master of Science in Accounting from the Kelley School of Business at Indiana University.

D. Joshua Hawes, Chairman

D. Joshua Hawes was appointed Chairman of the Board after November 25, 2024. He previously served as Chief Strategy Officer of USA Rare Earth from 2021 to 2023 and Chief of Staff from 2020 to 2021, where he oversaw a significant tenfold increase in company value and spearheaded the creation of the Magnet Manufacturing Tax Credit. Mr. Hawes also built the first ex-China, North American magnet supply chain network through strategic partnerships. With over 15 years of leadership experience, his focus areas include commodities, buy-side and sell-side investment sectors of the financial industry, and advanced technologies. Before USA Rare Earth, he held executive leadership roles for investment firms Delta1X and Hawking Alpha, leading entrepreneurial capital integration for several companies.

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1. Widening Net Loss and Poor Financial Performance: Royalty Management has been noted for its widening net loss and an inability to achieve profitability at the operating income level. This indicates that the company's expenses are consistently exceeding its revenues, posing a significant challenge to its financial health and long-term sustainability.
2. Dependence on Royalty Streams from Intellectual Property and Diversified Assets: The company's business model relies on acquiring and investing in royalty streams from various assets, including intellectual property and natural resources. A key risk is the potential lack of guaranteed protection for these intellectual property streams and the inherent volatility associated with diversified royalty assets. This dependence means that the company's revenue and profitability are susceptible to the performance and legal status of these underlying assets, which can fluctuate.
3. Ability to Raise Additional Financing: As a company that invests in and acquires undervalued assets, Royalty Management's growth and operational capabilities are highly dependent on its ability to raise additional debt or equity financing. Challenges in securing capital could hinder its investment strategy, limit its capacity for growth, and impact its overall business expansion.

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The rapid development of decentralized finance (DeFi) and blockchain-based marketplaces for intellectual property and digital assets poses an emerging threat. As these platforms mature, they could disintermediate traditional royalty investors by enabling direct, transparent, and potentially more efficient peer-to-peer royalty transactions. This could lead to increased competition for undervalued assets, driving up acquisition costs, and reducing Royalty Management's ability to find and profit from arbitrage opportunities, particularly in the digital assets and intellectual property domains.

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Royalty Management Holding Corporation (RMCO) operates as a royalty company, identifying and investing in undervalued assets across natural resources, patents, intellectual property, and digital assets. Here are the addressable market sizes for their main areas of investment:

• Intellectual Property and Patents: The global intellectual property rights and royalty market was valued at approximately USD 14.47 billion in 2023 and is projected to reach USD 42.62 billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 14.2%. North America alone accounted for over 40% of the global intellectual property and royalty market revenue in 2023.

• Digital Assets (Blockchain Technologies): The total global digital asset market capitalization, which includes cryptocurrencies and other blockchain-based assets that Royalty Management could invest in, doubled from approximately USD 830 billion to USD 1.6 trillion in 2023.

• Natural Resources: Given the broad nature of natural resource investments (including critical elements, rare earth elements, metallurgical carbon, traditional resource deposits, land resources, water, agriculture, and timber), specific market sizes for all associated royalty streams are diverse. However, for a notable segment:

  • U.S. Oil and Gas Royalties: Passive income from U.S. oil and gas royalties is expected to exceed USD 20 billion by 2026.

  • Broader Natural Resource Investment Market: Globally, the private natural resources asset class accounted for approximately 3.1% of the private markets' total assets under management as of June 2023. The annual global market size for physical oil surpassed USD 2 trillion as of June 2023, and major metals markets like iron ore, gold, and copper were valued at USD 283 billion, USD 196 billion, and USD 183 billion respectively, representing the underlying asset values from which royalties can be derived.

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Royalty Management Holding Corporation (RMCO) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and strategic focuses:

1. Strategic Acquisitions and Investments in Critical Minerals and Emerging Technologies: The company's core strategy involves acquiring and developing high-value assets in resource-driven and emerging technology fields, with a particular emphasis on critical minerals and rare earth elements. This approach is a significant expected driver of future revenue.
2. Intellectual Property and Patent Development: Royalty Management's investment in intellectual property (IP) and patent generation, especially for element refining and separation technologies, is anticipated to contribute to future revenue through royalty agreements. For instance, an agreement with ReElement Technologies Corporation grants RMCO rights to royalties on refined element sales.
3. Expansion of the Environmental Services Division: The RMC Environmental Services division is identified as a current primary driver of revenue growth, benefiting from robust commercial, industrial, and residential development, as well as new infrastructure and construction projects in Indiana. Continued growth in this sector is expected.
4. Deployment of Free Cash Flow into New Investment Opportunities: Royalty Management plans to allocate excess free cash flow towards a variety of pipeline opportunities and its existing portfolio. This strategy indicates a continuous pursuit of new ventures and acquisitions that will generate additional revenue streams in the coming years.

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Share Repurchases

• Royalty Management Holding Corporation's Board of Directors unanimously approved a stock repurchase program on April 17, 2024, authorizing the company to purchase up to $2.0 million of its common stock over 24 months.
• As of December 31, 2024, the company had repurchased a total of 31,177 shares of common stock at an average price of $0.9201 per share.
• By June 20, 2025, the company had repurchased a total of 91,177 shares under the program since its late 2024 implementation, including 60,000 shares in 2025 year-to-date.

Share Issuance

• On April 15, 2025, there were 14,958,817 shares of the registrant's Common Stock outstanding.
• During the fourth quarter of 2024, the company issued 225,000 stock warrants as compensation for the Board of Directors for 2024 and 2025.
• As of December 31, 2024, 1,607,886 shares of preferred stock were issued or outstanding, compared to none in 2023.

Inbound Investments

• On December 30, 2025, Royalty Management Holding Corporation announced that its wholly-owned subsidiary, The Vault Holdings Corporation, launched a private capital raise to expand its digital strategy, including bitcoin, cryptocurrency, and datacenter operations. The proceeds are primarily intended for purchasing crypto mining equipment, with management and existing investors committed to participate.

Outbound Investments

• Royalty Management Holding Corporation entered into an agreement on December 12, 2025, to invest in intellectual property development at ReElement Technologies Corporation.
• The company committed to an investment in SAGINT Inc. on December 3, 2025, a provider of compliant blockchain solutions for the traceability and marketability of commodities.

Capital Expenditures

• Royalty Management's subsidiary, The Vault Holdings Corporation, plans to utilize proceeds from a private capital raise primarily to purchase crypto mining equipment and deploy its own servers and equipment at properties through new equipment purchases and site investment.