DEVELOPMENTS AND POTENTIAL In the Rita K area, which forms most of Royal Gold’s exposure to exploration upside, high-grade reserve and resource definition continued to confirm the structural model south from Leeville. Similar structural relationships observed in Turf and West Leeville have been identified as high-grade controls to mineralization at Rita K. Additional drilling from surface is expected to delineate more inferred-level material at Upper Rita K, ahead of the development of a critical exploration drift. (2) As of December 31, 2025 Revenue to Royal Gold Since Inception US$M $107.2 Historic Revenue to Royal Gold US$M 2024: 2025: $7.9 $10.3 Acquisition Cost US$M $18.3 Investment Recovered % 585% Net Book Value US$M $0.4 MINERAL RESOURCES AND RESERVES As of December 31, 2024 Contained Gold (koz) AGEOs* (koz) Proven and Probable 1,112 20 Measured and Indicated 2,055 37 Inferred 1,216 22 * 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. 70 Royal Gold | 2025/2026 Asset Handbook For more information, please visit: www.barrick.com INTRODUCTION ATTRIBUTES OF OUR BUSINESS PORTFOLIO OVERVIEW EXPECTED PERFORMANCE AND OUTLOOK PORTFOLIO DETAILS REFERENCE MATERIALS