INVESTOR DAY 2026 Scale Advantages Driving Market Leadership Source: Royal Gold, internal tracking files & Scotiabank. January 1, 2010 to March 25, 2026. Precious metal streaming/royalty financing greater than ~US$5M; excludes existing royalty/stream acquisitions. Big Three = RGLD, WPM, FNV. Mid Cap = TFPM, OSK, ORION, SAND (until its acquisition by RGLD in October 2025). 2022 includes $200M Hod Maden stream (SAND). Others includes Nomad (pre-SAND acquisition), OTPP, Sprott, Maverix (pre-TFPM acquisition), Altius, Gold Royalty, Sandbox/Versamet, Ecora, Zijin, Appian, Oaktree, LunR Royalties. 0% 20% 40% 60% 80% 100% 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Stream/Royalty Financing by Year Percentages based on transaction value ($) Big Three Mid Cap Others Major streaming and royalty companies benefiting from access to bigger deals and lower cost of capital 83