NICKEL RESERVES Proven Probable Proven and Probable Metallurgical Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained Recovery Property Category (kt) (%) (Mlb) (kt) (%) (Mlb) (kt) (%) (Mlb) (%) Voisey's Bay (135) Producing 19,880 1.81 793 8,456 1.65 308 28,336 1.76 1,101 70-84% NICKEL RESOURCES (EXCLUSIVE OF RESERVES) Measured Indicated (M) + (I) Inferred Metallurgical Tonnes Grade Contained Tonnes Grade Contained Contained Tonnes Grade Contained Recovery Property Category (kt) (%) (Mlb) (kt) (%) (Mlb) (Mlb) (kt) (%) (Mlb) (%) Voisey's Bay (135) Producing 1,393 1.30 40 10,092 1.66 369 409 13,831 1.40 427 70-85% Bell Creek (139) Evaluation 11,400 0.84 211 12,700 0.64 179 390 1,700 0.55 21 Undisclosed COBALT RESERVES Proven Probable Proven and Probable Metallurgical Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained Recovery Property Category (kt) (%) (Mlb) (kt) (%) (Mlb) (kt) (%) (Mlb) (%) Voisey's Bay (135) Producing 19,880 0.11 48 8,456 0.10 19 28,336 0.11 67 70-86% COBALT RESOURCES (EXCLUSIVE OF RESERVES) Measured Indicated (M) + (I) Inferred Metallurgical Tonnes Grade Contained Tonnes Grade Contained Contained Tonnes Grade Contained Recovery Property Category (kt) (%) (Mlb) (kt) (%) (Mlb) (Mlb) (kt) (%) (Mlb) (%) Voisey's Bay (135) Producing 1,393 0.07 2 10,092 0.11 24 27 13,831 0.08 24 70-85% Bell Creek (139) Evaluation 11,400 0.05 13 12,700 0.03 8 21 1,700 0.03 1 Undisclosed MOLYBDENUM RESERVES Proven Probable Proven and Probable Metallurgical Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained Recovery Property Category (kt) (%) (Mlb) (kt) (%) (Mlb) (kt) (%) (Mlb) (%) Antamina (125) Producing 260,000 0.03 146 268,000 0.02 136 528,000 0.02 282 Undisclosed Caserones (132) Producing 310,122 0.01 85 486,958 0.01 126 797,080 0.01 210 Undisclosed Warintza (75) Development 797,000 0.02 351 503,000 0.01 111 1,300,000 0.02 462 Undisclosed MOLYBDENUM RESOURCES (EXCLUSIVE OF RESERVES) Measured Indicated (M) + (I) Inferred Metallurgical Tonnes Grade Contained Tonnes Grade Contained Contained Tonnes Grade Contained Recovery Property Category (kt) (%) (Mlb) (kt) (%) (Mlb) (Mlb) (kt) (%) (Mlb) (%) Antamina (125) Producing – – – 339,000 0.02 129 129 1,250,000 0.02 524 Undisclosed Caserones (132) Producing – – – 498,860 0.005 54 54 74,766 0.01 9 Undisclosed Warintza (75) Development 399,000 0.02 176 2,047,000 0.01 451 627 2,092,000 0.01 461 Undisclosed Berg (77) Evaluation 34,000 0.03 24 976,000 0.03 609 633 542,000 0.02 288 70 % MARA (97) Evaluation 127,000 0.03 84 1,080,000 0.03 714 798 110,000 0.03 73 Undisclosed North Island (103) Evaluation – – – 822,793 0.01 149 149 204,070 0.01 25 74 % Schaft Creek (116) Evaluation 166,000 0.02 77 1,127,200 0.02 398 474 316,700 0.02 133 59 % COAL RESOURCES (EXCLUSIVE OF RESERVES) Measured Indicated (M) + (I) Inferred Metallurgical Tonnes Tonnes Contained Tonnes Recovery Property Category (kt) (kt) (kt) (kt) (%) Horizon Coal (140) Evaluation 102,468 40,626 143,094 40,626 Undisclosed 206 Royal Gold | 2025/2026 Asset Handbook INTRODUCTION ATTRIBUTES OF OUR BUSINESS PORTFOLIO OVERVIEW EXPECTED PERFORMANCE AND OUTLOOK PORTFOLIO DETAILS REFERENCE MATERIALS