ATTRIBUTES OF PORTFOLIO EXPECTED PERFORMANCE PORTFOLIO REFERENCE | INTRODUCTION | OUR BUSINESS | OVERVIEW | AND OUTLOOK | DETAILS | MATERIALS | | GOLD RESERVES (CONT’D) | | Proven | Probable | Proven and Probable | Metallurgical | | Tonnes | Grade | Contained | Tonnes | Grade | Contained | Tonnes | Grade | Contained | Recovery | | Property | Category | (kt) | (g/t) | (koz) | (kt) | (g/t) | (koz) | (kt) | (g/t) | (koz) | (%) | | Lawyers-Ranch(64) | Development | 32,883 | 1.05 | 1,114 | 40,773 | 0.85 | 1,117 | 73,656 | 0.94 | 2,231 | 93 % | | Lobo-Marte(65) | Development | – | – | – | 160,702 | 1.30 | 6,733 | 160,702 | 1.30 | 6,733 | 70 % | | Marban(66) | Development | – | – | – | 51,618 | 0.95 | 1,577 | 51,618 | 0.95 | 1,577 | 94 % | | North Timmins(68) | Development | – | – | – | 1,787 | 4.82 | 277 | 1,787 | 4.82 | 277 | Undisclosed | | NuevaUnión(69) | Development | 116,040 | 0.55 | 2,052 | 88,620 | 0.36 | 1,026 | 204,660 | 0.47 | 3,078 | 66 % | | Oyu Tolgoi(70) | Development | – | – | – | 36,000 | 0.59 | 683 | 36,000 | 0.59 | 683 | 81 % | | Pine Cove(71) | Development | – | – | – | 233 | 1.53 | 11 | 233 | 1.53 | 11 | 87 % | | Platreef(72) | Development | – | – | – | 129,700 | 0.29 | 1,210 | 129,700 | 0.29 | 1,210 | Undisclosed | | Red Dam(73) | Development | – | – | – | 2,900 | 1.25 | 117 | 2,900 | 1.25 | 117 | Undisclosed | | Troilus(74) | Development | – | – | – | 380,000 | 0.49 | 6,020 | 380,000 | 0.49 | 6,020 | Undisclosed | | Warintza(75) | Development | 797,000 | 0.37 | 6,501 | 503,000 | 0.22 | 2,440 | 1,300,000 | 0.31 | 8,941 | Undisclosed | Royal Gold / 2025/2026 Asset Handbook 197