Organic growth can come from within the portfolio as operators advance early-stage properties through the various stages of project development to production. Royal Gold has an exceptional portfolio of attractive pre- production properties with the potential to provide revenue growth in the future.” William H. Heissenbuttel President and Chief Executive Officer 142 Royal Gold | 2025/2026 Asset Handbook INTRODUCTION ATTRIBUTES OF OUR BUSINESS PORTFOLIO OVERVIEW EXPECTED PERFORMANCE AND OUTLOOK PORTFOLIO DETAILS REFERENCE MATERIALS