33 ROYAL GOLD, INC. | INVESTOR PRESENTATION | NOVEMBER 2025 Acquisitions: Red Chris Xavantina Cote Credit Facility is a Flexible and Strategic Financing Tool • $1.4B credit facility (increased from $1B effective August 5, 2025) • Strong and diversified syndicate: BNS, CIBC, BofA, BMO, NBF, RBC, TD • Maturity date: June 30, 2030 • Current drawn interest rate of SOFR + 1.20% $775M Debt Outstanding 1 : $0 $250 $500 $750 $1,000 $1,250 $1,500 Q1 2012 Q1 2013 Q1 2014 Q1 2015 Q1 2016 Q1 2017 Q1 2018 Q1 2019 Q1 2020 Q1 2021 Q1 2022 Q1 2023 Q1 2024 Q1 2025 Total Available Credit Facility Amount Drawn Acquisitions: Pueblo Viejo Andacollo Wassa & Prestea Rainy River Repayment of convertible notes Precautionary draw at beginning of pandemic Acquisitions: Cortez royalties (Rio Tinto and Idaho) Credit facility is low-cost instrument to manage liquidity 1 – As of September 30, 2025. Does not include $450M revolver draw upon closing of the Sandstorm and Horizon acquisitions on October 20, 2025. Acquisition: Kansanshi