Mara Rosa OPERATOR Hochschild Mining plc COUNTRY: Brazil MINE LIFE: 2033 (1) METAL(S): Gold ROYALTY: 1.0% NSR, 1.75% NSR (all metals) REVENUE TO ROYAL (2025): $3.6 million INVESTMENT RECOVERED: 73% REVENUE TO ROYAL GOLD SINCE INCEPTION: $7.9 million Mara Rosa is an open-pit gold mine located in the State of Goiás, central Brazil, approximately six kilometers north of the town of Mara Rosa. Mara Rosa is owned and operated by Amarillo Mineração Do Brasil Ltda, a subsidiary of Hochschild Mining plc. (“Hochschild”). For 2026, Mara Rosa is expected to produce 67,000 to 80,000 GEOs. (2) Royal Gold owns a 2.75% NSR royalty on all metals produced from areas subject to our royalty interest at the Mara Rosa Project. Royal Gold acquired a 1.0% NSR royalty effective February 22, 2010, with the acquisition of International Royalty Corporation, and purchased an additional 1.75% NSR royalty on June 29, 2018, from Amarillo Gold Corp. For more information, please visit: www.hochschildmining.com (1) Source: Hochschild, October 2024 Corporate Presentation. (2) Source: Hochschild, January 21, 2026, Press Release. (3) Mineral Resources and reserves details for Mara Rosa are provided in the Mineral Resources and Reserves section of this document, if available. Riacho dos Machados OPERATOR CMOC Group Limited COUNTRY: Brazil MINE LIFE: Detail not publicly disclosed by operator. METAL(S): Gold ROYALTY: 1.0% NSR (gold), 2.0% NSR (silver), 2.0% NSR (all other metals) REVENUE TO ROYAL (2025): N/A INVESTMENT RECOVERED: N/A REVENUE TO ROYAL GOLD SINCE OCT. 20, 2025: N/A Riacho dos Machados (“RDM”) is an open-pit mine located in Minas Gerais, Brazil, about 560 kilometers from the capital city of Belo Horizonte and about 25 kilometers from the nearest town, which is Riacho dos Machados. RDM is owned and operated by Mineração Riacho dos Machados Ltda., a subsidiary of CMOC Group Limited (“CMOC”). CMOC acquired RDM in January 2026 from Equinox Gold Corp. Royal Gold owns a 1.0% NSR royalty on all gold produced from the RDM mine. Additionally, Royal Gold owns a 2.0% NSR royalty on all non-gold metal produced from the RDM mine. Royal Gold acquired the RDM royalties effective October 20, 2025, with the acquisition of Sandstorm Gold Ltd. For more information, please visit: www.en.cmoc.com (1) Mineral Resources and reserves details for RDM are provided in the Mineral Resources and reserves section of this document, if available. 118 Royal Gold | 2025/2026 Asset Handbook INTRODUCTION ATTRIBUTES OF OUR BUSINESS PORTFOLIO OVERVIEW EXPECTED PERFORMANCE AND OUTLOOK PORTFOLIO DETAILS REFERENCE MATERIALS