Progress to Stream Changes for Properties Acquired from Sandstorm Gold CURRENT AS OF DECEMBER 31, 2025 Stream Metal Cumulative Deliveries Key change Terms in detail Bonikro Gold 35,104 oz Stream step-down Royal Gold owns the right to purchase 6% of gold produced from the Bonikro mine until the cumulative delivery of 39,000 ounces, 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. Blyvoor Gold 9,490 oz Stream step-down Royal Gold owns the right to purchase 10% of the gold produced from Blyvoor, until 16,000 ounces are delivered; then, 5% of gold produced until cumulative 300,000 ounces are delivered; then, 0.5% of gold produced on the first 100,000 ounces per year until cumulative 10,320,000 ounces have been produced. CEZinc Zinc 25.7 Mlbs Stream step-down Royal Gold owns the right to purchase 1% of zinc produced from CEZinc, until the later of June 30, 2030 or until 68 million pounds of zinc are delivered. Chapada Copper 37.4 Mlbs Stream step-down Royal Gold owns the right to purchase 4.2% of payable copper from Chapada, up to a maximum of 3.9 million pounds of copper annually, until 39 million pounds of copper have been delivered; then, 3.0% of payable copper until 50 million cumulative pounds of copper have been delivered; and, 1.5% of payable copper thereafter. Greenstone Gold 6,857 oz Stream step-down Royal Gold owns the right to purchase 2.375% of the gold produced, until 120,333 ounces of gold have been delivered; then 1.583% of the gold produced thereafter. Platreef Gold — Stream step-down Royal Gold owns the right to purchase 37.5% of payable gold, until 131,250 ounces of gold have been delivered; then, 30% of payable gold until 256,980 cumulative ounces have been delivered; then, if 256,980 cumulative ounces have not been delivered by December 7, 2061, 1.875% of payable gold thereafter. Woodlawn Silver $3.9 million (silver) $0 million (tailings) Stream cap Royal Gold owns the right to purchase 80% of the silver produced from Woodlawn. There are no ongoing payments related to silver deliveries. Silver deliveries are capped at A$27 million. Royal Gold is also entitled to A$1 million per 1.0 million tonnes of tailings processed. Payments related to tailings ore processed are capped at A$10 million. 184 Royal Gold | 2025/2026 Asset Handbook INTRODUCTION ATTRIBUTES OF OUR BUSINESS PORTFOLIO OVERVIEW EXPECTED PERFORMANCE AND OUTLOOK PORTFOLIO DETAILS REFERENCE MATERIALS