Deductions for the different types of royalty interests are included as follows: • GV, GSR and NSR royalties – assume 100% of the royalty rate without deductions, as the deductions for these royalty types are typically not significant. • NVR – include deductions in a range of 5% to 60% of the royalty rate depending on historical deductions or estimates for each specific royalty. • NPI royalties – include deductions of 90% of the royalty rate, as NPI royalties are an interest in net profits and significant deductions are typical. • Stream interest AGEOs – contained metal, in either reserves or resources, subject to Royal Gold’s stream interest, multiplied by the net metal price (the metal price less the price paid for future metal deliveries), divided by the gold price, which results in the GEO reserve or resource. This GEO quantity is then multiplied by the applicable stream percentage to yield AGEOs. Metal prices for this calculation are based on Royal Gold’s internal budget pricing, which is developed using various inputs and is updated annually as part of the budgeting process. Budget prices used for the AGEO calculations in this edition of the handbook are: $2,550/oz gold, $30/oz silver, $4.00/lb copper, $0.85/lb lead, $1.20/lb zinc, $6.75/lb nickel, $13/lb cobalt, and $19/lb molybdenum. Mineral Resources and Reserves related to Royal Gold’s stream and royalty interests are reported on page 167 of this handbook. Portfolio AGEO Breakdown 1 AGEOs (in Thousands) Property Stage Proven and Probable Measured and Indicated Inferred Principal 2,677 1,277 386 Producing (Excluding Principal) 1,308 1,044 1,119 Development 272 468 297 Evaluation — 1,979 1,009 Exploration (Excluding Evaluation) — 2 — All Stages 4,257 4,770 2,812 AGEOs (in Thousands) Geography Proven and Probable Measured and Indicated Inferred Canada 1,392 1,641 877 United States 604 784 530 Latin America 1,828 1,758 443 Africa 271 327 732 Australia 139 254 224 Other 25 7 5 All Geographies 4,257 4,770 2,812 1 AGEO resources exclusive of reserves ROYAL GOLD 2024 Asset Handbook 12