80 ROYAL GOLD, INC. | INVESTOR PRESENTATION | APRIL 2025 Footnotes for Mineral Resources and Reserves 87. Wildcat resources are disclosed to CIM standards with an effective date of 6/28/2023. A gold price of $1,800 and a cut-off grade of 0.15 g/t were used. The 1.0% NSR royalty applies to the SS lode claims only. The additional royalty pays 1.0% NSR on gold production between 500,000 ounces and 1.0 million ounces and increases to a 2.0% NSR on production in excess of 1.0 million ounces. This royalty applies to various claims on the property. 88. Wolverine resources are disclosed to NI 43-101 standards with an effective date of 1/30/2015. Cut-off grades and metal prices used were not disclosed. The gold royalty rate is based on the price of silver per ounce and is based on a sliding scale, which caps at 9.445% at a silver price equal to or above $7.50 per ounce. SILVER 89. Khoemacau resources and reserves are disclosed to JORC standards with an effective date of 12/31/2023. Royal Gold AOI covers the Zone 5 and Mango deposit areas. Royal Gold has a stream interest in silver production only, Khoemacau includes copper resources and reserves not listed here. Resources and reserves both use $23.00 Ag, with a $65.00/t NSR cut-off. Our stream interest at Khoemacau is 100% of payable silver produced. 90. Rock Creek resources are reported to SK-1300 and NI 43-101 standards with an effective date of 12/31/2023. Metal prices used are $21.00 Ag and $3.00 Cu, with an NSR cut-off grade of $24.50. COPPER 91. Johnson Camp resources are reported under CIM standards with an effective date of 2/21/2022. Copper prices of $4.00 and a cut-off grade of 0.2% Cu are used for resource reporting. 92. Voisey’s Bay resources and reserves are reported to SK-1300 standards with an effective date of 12/31/2023. Commodity prices used are $3.86 Cu, $9.14 Ni, and $17.20 Co. NSR cut-off is $28.35 for open-pit and $210-$250 for underground. 93. Las Cruces resources and reserves are reported to CIM standards with an effective date of 9/30/2023. Copper price used is $3.80 with a cut-off grade of $50.60 NSR. 94. Los Chancas resources are reported to SK-1300 standards with an effective date of 12/31/2023. Resources use $3.80 Cu prices and NSR cut-offs of $6.11 for heap leach and $7.64 for mill and flotation material. NICKEL 95. Bell Creek resources are reported to JORC standards with an effective date of 2/10/2019. Specific commodity prices and cut-off grades are not disclosed. The royalty is A$1.00 per tonne on the first 5 million tonnes of production, A$2.00 per tonne thereafter. 96. Cosmos resources are reported to JORC standards with an effective date of 6/30/2024. Royal Gold royalty interest covers AM5, AM6, and Mt. Goode. Resources are not currently reported for Mt. Goode due to changes in metal price assumptions. Odysseus is outside the royalty interest. AUS$27,010/t Ni price and cut-off grades of 1.0% Ni for underground are used for resources. COAL 97. Skyline reserves were reported with an effective date of 12/31/2012. The operator provides annual reserves updates, but does not disclose the portion of reserves attributable to our royalty. Specific commodity prices were not disclosed. 98. Horizon resources were reported with an effective date of 12/31/2011.