Taxes, Associations and Political Contributions Tax Royal Gold’s Tax Policy aligns with all applicable laws and Company policies, prioritizing integrity, compliance and disclosure. Operating in multiple jurisdictions, we paid significant income and withholding taxes from 2020 to 2025, mainly in the United States, Mexico, Switzerland and Canada. Apart from these, we manage production taxes on royalty payments, government royalties, mineral rights taxes, value-added tax (VAT), harmonized sales tax (HST) and goods and services tax (GST). For 2025, these non-income taxes are included in the costs and expenses section of our consolidated statements of operations and comprehensive income in the financial statements included in our Annual Report on Form 10-K. INCOME AND WITHHOLDING TAXES PAID (US$M) 9 19 14 14 34 41 8 17 17 10 12 11 7 11 19 19 19 30 4 9 2 8 5 4 7 7 10 2020 2021 2022 2023 2024 2025 0 10 20 30 40 50 60 70 80 90 100 • U.S. • Canada • Mexico • Other (Argentina, Australia, Bolivia, Brazil, Burkina Faso, Chile, Nicaragua, Spain, Turkey) • Switzerland Includes income and withholding taxes. Memberships and Industry Associations Royal Gold has been a long-standing member of the following industry associations and organizations. Below is a list of our memberships and corresponding annual fees paid. Organization Fees paid in 2025 National Mining Association $90,843 In Gold We Trust $31,668 NBC Universal Media $18,749 World Gold Council $14,270 National Association of Corporate Directors $12,825 Canadian Swiss Chamber of Commerce $6,171 Women in Mining $5,000 The Denver Gold Group $3,000 Other tax-exempt groups (under $2,000 per group) $8,202 Total $190,728 Political Contributions Royal Gold’s Code of Business Conduct and Ethics states that corporate funds may not be provided to political candidates, entities or organizations without the written consent of our CEO or, in the case of a political contribution suggested by our CEO, the Chair of the Audit and Finance Committee of our Board. This includes direct cash contributions, donation of property or services and purchases associated with fundraising events. We made no political contributions between 2019 and 2025, and we intend to disclose any future political contributions in this report. INTRODUCTION ABOUT ROYAL GOLD GOVERNANCE OUR PEOPLE OPERATORS AND COMMUNITIES INVESTMENT STEWARDSHIP APPENDICES Royal Gold | 2025-2026 Investment Stewardship Report 40 Khoemacau site visit, 2025