INVESTOR DAY 2026 Q3 Q3 Q3 Q4 Q4 Q4 Q1 Q1 Q1 Q2 Q2 Q2 Q3 Q3 Q3 Q4 Q4 Q4 Q1 Q1 Q1 Q2 Q2 Q2 Q3 Q3 Q3 Q4 Q4 Q4 - 20 40 60 80 100 120 140 160 180 200 Amivest Liquidity 99 Royal Gold Shares are Highly Liquid Royal Gold is closing the liquidity gap amongst royalty larger peers Source: Nasdaq, Factset, market capitalization data as of March 25, 2026. 2023 2024 2025 Royal Gold $20B 2023 2024 2025 Franco Nevada $45B 2023 2024 2025 Wheaton PM $56B USD Value Traded (in millions) Associated with a 1% Change in Share Price +191% +54% +74%