DEVELOPMENTS AND POTENTIAL In 2026, Marigold’s production is expected to be 55 to 60% weighted to the second half, as higher grades stacked in the second quarter are anticipated to drive increased production in the second half. Marigold is expected to stack 21 to 23 million tonnes of ore in 2026 at an average grade of approximately 0.4 grams per tonne. (2) SSR Mining continues to evaluate organic growth and mine life extension opportunities across the Marigold property. During 2025, SSR Mining completed 52,001 meters in 243 drill holes at Marigold, Trenton Canyon and Buffalo Valley (not covered by Royal Gold royalty). (4) FINANCIAL AND OPERATING RESULTS As of December 31, 2025 Revenue to Royal Gold Since Inception US$M $80.1 Historic Revenue to Royal Gold US$M 2024: 2025: $8.1 $10.4 Acquisition Cost US$M $5.3 Investment Recovered % 1511% Net Book Value US$M $0.8 MINERAL RESOURCES AND RESERVES As of December 31, 2025 Contained Gold (koz) AGEOs* (koz) Proven and Probable 1,147 23 Measured and Indicated 647 13 Inferred 93 2 * 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. 74 Royal Gold | 2025/2026 Asset Handbook For more information, please visit: www.ssrmining.com INTRODUCTION ATTRIBUTES OF OUR BUSINESS PORTFOLIO OVERVIEW EXPECTED PERFORMANCE AND OUTLOOK PORTFOLIO DETAILS REFERENCE MATERIALS