Brief History of Portfolio Additions – Last 10 Years (Cont’d) Producing Development Evaluation 2025 XAVANTINA Brazil OPERATOR Ero Copper Corp. ACQUISITION COST $50 million TERM Life of mine ADDITIONAL AGREEMENT Extended gold delivery threshold under Stage II and expanded area of influence covered by stream (8) LAWYERS-RANCH Canada OPERATOR Thesis Gold & Silver Inc. ACQUISITION COST $12.5 million TERM Life of mine ROYALTY INTEREST A 2.0% NSR royalty on the Ranch Portion of the Lawyers-Ranch Project (9) WARINTZA Ecuador OPERATOR Solaris Resources, Inc. ACQUISITION COST $200 million (10) TERM Life of mine STREAM AND ROYALTY INTEREST Gold Stream equal to 20 ounces of gold per million pounds of recovered copper (11) 0.3% to 0.6% NSR royalty (12) KANSANSHI Zambia OPERATOR First Quantum Minerals Ltd. ACQUISITION COST $1 billion TERM Life of mine STREAM INTEREST Referenced to copper production, with deliveries of 75 ounces of gold per million pounds of recovered copper (13) SANDSTORM GOLD AND HORIZON COPPER Multiple Jurisdictions OPERATOR Multiple Operators ACQUISITION COST $4.1 billion (14) TERM Varies PORTFOLIO ACQUISITION The acquisition of Sandstorm Gold and Horizon Copper adds 37 producing properties, 12 development properties, 26 evaluation properties, and 117 exploration properties. (15) (8) See Xavantina property page for details. (9) This transaction increases Royal Gold’s royalty exposure to Lawyers-Ranch, which also includes a 0.5% NSR royalty on the Lawyer’s portion of the Lawyers-Ranch Project. (10) See Warintza property page for full details. (11) The gold stream agreement will cover all copper produced from the area of interest shown as the “RGLD Gold AOI”. If the gold stream delivery is not received by May 21, 2033, and RG AG does not terminate the gold stream agreement, the area of interest will expand to the “RGLD Gold Expanded AOI”. See Warintza property page for AOI map details. The gold stream agreement may be subject to early termination, with the return of the Advance, under three scenarios. See Warintza property page for scenario details. 24 Royal Gold | 2025/2026 Asset Handbook 2025 2025 2025 2025 2025 INTRODUCTION ATTRIBUTES OF OUR BUSINESS PORTFOLIO OVERVIEW EXPECTED PERFORMANCE AND OUTLOOK PORTFOLIO DETAILS REFERENCE MATERIALS