INVESTOR DAY 2026 28 Enhanced Portfolio Duration 0–5 years 0–5 years 5–10 years 5–10 years 10–15 years 10–15 years 15–20 years 15–20 years 20–25 years 20–25 years 25–30 years 25–30 years 30+ years 30+ years 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% Portfolio Prior to 2025 Mine Life Current Portfolio Mine Life Shift toward longer-life portfolio driven by disciplined M&A and organic developments Mine life as reported by operator and is weighted by NAV. Assets included account for 90% of Royal Gold asset NAV. The Portfolio Prior to 2025 excludes assets acquired in 2025, the Mt. Milligan mine life extension announced in September 2025, and the Fourmile project PEA results announced in September 2025. 14.5yr Weighted Average Mine Life 18yr Weighted Average Mine Life of NAV