Introduction Purpose This handbook is intended to be a reference that provides the detail required to understand, evaluate and model Royal Gold’s portfolio. It is not intended to review all aspects of Royal Gold’s business, and readers are encouraged to review additional Royal Gold disclosure and filings for a fulsome overview of strategy, financial performance and risks. Notes to the Reader The disclosures in this handbook relating to properties and operations on the properties in which Royal Gold holds stream or royalty interests are based in most cases on information publicly disclosed by the operators of these properties and information available in the public domain. Additionally, Royal Gold may from time to time receive information from operators that is not publicly disclosed by the operators. For example, some of the reserve and resource estimates and metallurgical recoveries disclosed in this handbook are based on information provided to us directly by operators but that is not publicly disclosed by the operators. We do not independently prepare or verify information publicly disclosed by or provided directly to us by the operators, and, as the holder of stream and royalty interests, we do not have access to the properties or operations or to sufficient data to do so. In certain cases, operators disclose information to us that we are not permitted ourselves to disclose to the public. We are dependent on the operators of the properties to provide information to us, and we refer readers to publicly available reports of the operators for additional information concerning the properties. There can be no assurance that such third- party information is complete or accurate. The information in this handbook reflects information available to us as of March 13, 2026, or as otherwise noted. Regarding the Portfolio Details portion of this handbook, please note the following: • Mine Life – The mine lives presented are with respect to the mining properties, and not necessarily our stream/ royalty interest. • Mineral Resources and Reserves – Mineral resources and reserves are presented for the properties or portions of the properties that generate our stream and royalty interests without regard to the specific percentage of Royal Gold’s stream and royalty interest. In cases where our stream or royalty interest covers only a portion of a property, only the covered portion of the mineral resource or reserve is included in the summary. For further details regarding the mineral resources and reserves presented in this handbook, please see the Mineral Resources and Reserves section. • Area of Interest Maps – The descriptions and depictions of projects and related infrastructure, mineral interests, deposits, veins, targets and other mineralization, and Royal Gold’s stream and royalty interests thereon, are based on public information and/or information provided to us by operators, are approximate, have been simplified for presentation purposes, and are subject to change. As a result, the area covered by Royal Gold’s stream or royalty interest might be a larger or smaller area than the area depicted on a given map. Additionally, any changes in project mineral interests from time to time could modify the areas to which Royal Gold’s interests apply. While we endeavor to update our knowledge of the properties as modifications are made, not all modifications are depicted in the maps in this handbook. Footnotes are provided in the Footnotes for Area of Interest Maps section. • Investment Recovered – Calculated pre-tax, net of cost of goods sold. Stage of the Properties Mining properties may be categorized based on their development status, from early-stage exploration through to production. We categorize our portfolio according to periodic reviews of our estimates of the potential revenue contribution and stage of development for each individual property, as follows: • Principal Properties – Properties that are generally in production and are expected to be the most significant contributors of revenue to our portfolio. • Producing Properties – Properties with material extraction of mineral reserves. • Development Properties – Properties that have mineral reserves disclosed but no material extraction. • Evaluation Properties – Exploration stage properties that contain disclosed mineral resources and on which operators are engaged in the search for reserves. • Exploration Properties – Properties that have no mineral resources or reserves disclosed. Portfolio properties periodically move from one category to another depending on factors such as exploration success or depletion of reserves. All financial figures are presented in U.S. dollars, unless otherwise specified. Royal Gold | 2025/2026 Asset Handbook 5 INTRODUCTION ATTRIBUTES OF OUR BUSINESS PORTFOLIO OVERVIEW EXPECTED PERFORMANCE AND OUTLOOK PORTFOLIO DETAILS REFERENCE MATERIALS