Brief History of Portfolio Additions – Last 10 Years The descriptions provided in this timeline are simplified and show Royal Gold’s current interests, the current operators and current property names. Producing Development Evaluation 2016 CORTEZ United States OPERATOR Barrick Mining Corp. ACQUISITION COST $70 million TERM Life of mine ROYALTY INTEREST 3.75% NVR royalty covering a significant area of the Cortez mine, including the Crossroads deposit 2018 MARA ROSA Brazil OPERATOR Hochschild Mining plc ACQUISITION COST $11 million TERM Life of mine ROYALTY INTEREST 1.75% NSR royalty (note, separately, Royal Gold owns an additional 1.0% NSR royalty on Mara Rosa) 2019 KHOEMACAU Botswana OPERATOR MMG Limited ACQUISITION COST $265 million TERM Life of mine ROYALTY INTEREST 100% of payable silver (1) CASTELO DE SONHOS Brazil OPERATOR Tristar Gold Inc. ACQUISITION COST $8 million TERM Life of mine ROYALTY INTEREST 1.5% NSR royalty (1) The Khoemacau transaction was announced in 2019. Royal Gold completed the advance payments (totaling $212 million) required to earn the full base (80% of payable) silver stream in January 2021. Subsequent to this, Khoemacau Copper Mining (Pty.) Ltd. (“KCM”) drew additional payments, at its option, totaling $53 million, with the last draw made in March 2022. This increased Royal Gold’s silver stream interest to 100% of payable silver until 40 million ounces have been produced, 50% thereafter. MMG Limited acquired KCM effective March 22, 2024. 20 Royal Gold | 2025/2026 Asset Handbook 2016 2018 2019 2019 INTRODUCTION ATTRIBUTES OF OUR BUSINESS PORTFOLIO OVERVIEW EXPECTED PERFORMANCE AND OUTLOOK PORTFOLIO DETAILS REFERENCE MATERIALS