37 ROYAL GOLD, INC. | INVESTOR PRESENTATION | MARCH 2026 Retail 13% Passive 43% Active 44% US Domicile and Register are Unique Top 5 41% Top 6-10 9% Top 11-20 9% Other Identifiable 28% Remainder 13% U.S. BASED • Only U.S. based precious metals streaming and royalty company • Member of >200 U.S. indices • 84.5M shares outstanding 1 ; lowest in the GDX Register Breakdown Source: NASDAQ, per 13-F filings; December 31, 2025 or as available. 1 – As of December 31, 2025. Dominant Orientation