DEVELOPMENTS AND POTENTIAL In 2026, mining will include a large pushback to open up the Côté pit to improve mine efficiency and prepare for a contemplated expansion. Gold production in 2026 is expected to be higher in the second half of the year based on grades as determined by the scheduled mine sequence. (3) IAMGOLD is advancing plans to expand the Côté plant from 36,000 tpd to over 50,000 tpd, targeting the Côté and Gosselin (not covered by Royal Gold’s royalty) zones as a single large pit based on a subset of the combined resources. A new technical report and mine plan is expected to be released in H2 2026. (4) FINANCIAL AND OPERATING RESULTS As of December 31, 2025 Revenue to Royal Gold Since Inception US$M $11.5 Historic Revenue to Royal Gold 2024: 2025: US$M $2.9 $8.5 Acquisition Cost US$M $75.0 Investment Recovered % 15% Net Book Value US$M $71.7 MINERAL RESOURCES AND RESERVES As of December 31, 2024 Contained Gold (koz) AGEOs* (koz) Proven and Probable 5,139 51 Measured and Indicated 3,111 31 Inferred 824 8 * 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. 62 Royal Gold | 2025/2026 Asset Handbook For more information, please visit: www.iamgold.com INTRODUCTION ATTRIBUTES OF OUR BUSINESS PORTFOLIO OVERVIEW EXPECTED PERFORMANCE AND OUTLOOK PORTFOLIO DETAILS REFERENCE MATERIALS