CÔTE D'IVOIRE Bonikro The Bonikro mine is located 100 kilometers by road south of the capital Yamassoukro, in the Gôh-Djiboua District of Côte d’Ivoire in West Africa, and the commercial center, Abidjan, lies 214 kilometers by road to the southeast. Bonikro is 89.89% owned and operated by Allied Gold Corporation (“Allied”). Allied has agreed to be acquired by Zijin Gold International Company Limited, and the transaction is expected to close in the second quarter of 2026. OPERATOR Allied Gold Corporation MINERALIZATION STYLE Orogenic Au MINE TYPE Open-pit METAL(S) Gold, Silver PRODUCT Doré CURRENT STREAM 6% of Gold Produced CURRENT ONGOING PAYMENT $400/oz YEAR OF ACQUISITION 2025 TERM OF STREAM Life of Mine MINE LIFE 2029 (1) Operational Overview Bonikro is an operating open-pit gold mine that has produced over 1.4 million ounces of gold since production began in 2008. The Bonikro process plant is a conventional CIL gold plant constructed in 2008 with a nameplate capacity of 2 Mtpa. Debottlenecking in 2017 resulted in an upgraded capacity of 2.5 Mpta. (1) Bonikro consists of two primary areas - the Bonikro mining license and Hiré mining license. 2026 OPERATOR GUIDANCE 105,000 to 110,000 ounces of gold. (2) LONGER-TERM OPERATOR OUTLOOK Gold production is expected to be stable during the 2026-2027 period, with a goal of averaging 100,000 ounces annually. (2) Royal Gold’s Stream Interest Royal Gold owns the right to purchase 6% of gold produced from the Bonikro mine until the cumulative delivery of until both (i) 650,000 oz of refined gold have been out-turned; and (ii) 39,000 ounces of refined gold have been delivered, upon which the stream percentage will decrease to 3.5% of gold until both (i) 1,300,000 ounces of refined gold have been out- turned; and (ii) 61,750 ounces of refined gold have been delivered, upon which the stream percentage will decrease to 2% for the remaining LOM. Cumulative deliveries as at December 31, 2025 since stream inception are 35,104 ounces of gold. The cash purchase price for gold is $400 per ounce. The stream is subject to minimum annual deliveries between 2024 to 2029, including 4,000 ounces in 2026, 3,000 ounces in each of 2027 and 2028, and 2,000 ounces in 2029. Royal Gold acquired the Bonikro gold stream effective October 20, 2025, with the acquisition of Sandstorm Gold Ltd. (1) Source: Allied Gold, July 2023 Technical Report. (2) Source: Allied Gold, February 20, 2025, Press Release. (3) Source: Allied Gold, February 18, 2026, Press Release. (4) Source: Allied Gold, Corporate Website. Royal Gold | 2025/2026 Asset Handbook 119 STREAM INTRODUCTION ATTRIBUTES OF OUR BUSINESS PORTFOLIO OVERVIEW EXPECTED PERFORMANCE AND OUTLOOK PORTFOLIO DETAILS REFERENCE MATERIALS