Royal Gold’s Royalty Interest Royal Gold holds a 0.5% to 0.75% sliding-scale NSR royalty on gold produced from certain claims included in the Marban Alliance property, and a 1.0% to 1.5% sliding-scale NSR royalty on gold produced from certain claims in the Horizon property. At a gold price below $350 per ounce, the royalty rate is 0.5% for the Marban Alliance and 1.0% for Horizon, which increases to 0.75% for the Marban Alliance and 1.5% for Horizon at a gold price equal to or above $350 per ounce. Royal Gold acquired this royalty as part of its acquisition of a royalty portfolio from Barrick Mining Corporation on July 31, 2008. Royal Gold acquired an additional 2.5% NSR royalty on certain claims included in Marban Alliance. Royal Gold acquired this additional royalty effective October 20, 2025, with the acquisition of Sandstorm Gold Ltd. MINERAL RESOURCES AND RESERVES As of December 31, 2025 Contained Gold (koz) AGEOs* (koz) Proven and Probable 1,577 12 Measured and Indicated 63 – Inferred 375 3 * AGEOs do not consider adjustments that may impact the economic viability of the AGEO interest. See page 12 for a description of AGEO calculation methodology. 148 Royal Gold | 2025/2026 Asset Handbook For more information, please visit: www.agnicoeagle.com INTRODUCTION ATTRIBUTES OF OUR BUSINESS PORTFOLIO OVERVIEW EXPECTED PERFORMANCE AND OUTLOOK PORTFOLIO DETAILS REFERENCE MATERIALS