GHANA Wassa The Wassa mine and mill are located in the Wassa East District, in the Western Region of Ghana. Golden Star Wassa Ltd. (“GSWL”) owns the rights to mine the Wassa, Benso and Hwini-Butre concessions. Chifeng Jilong Gold Mining Co., Ltd. (“Chifeng”) owns a 90% interest in GSWL, with the Government of Ghana owning the remaining 10%. OPERATOR Chifeng Jilong Gold Mining Co., Ltd. MINERALIZATION STYLE Orogenic Au MINE TYPE Open-pit & Underground METAL(S) Gold PRODUCT Doré CURRENT STREAM 10.5% of Payable Gold CURRENT ONGOING PAYMENT 20% of spot for Gold YEAR OF ACQUISITION 2015 TERM OF STREAM Life of Mine MINE LIFE 2028 (1) Operational Overview The Wassa mine was originally developed as a 3.0 Mtpa open-pit heap leach operation with first ore mined in 1998. After approximately one year of production, it became evident that the predicted heap leach gold recovery of 85% in the oxide ore could not be achieved and the operation was shut down. In 2002, Golden Star Resources acquired the property and constructed a 2.7 Mtpa CIL plant. The Wassa open-pit operations commenced in 2005. In 2017 commercial production was achieved at the underground operation. Both open-pit and underground mining continue to operate. Access to the underground mine is via declines in the Wassa open-pit, with the capacity to support a production rate of 5,000 tpd. The mining method is sublevel, open-stoping with cemented paste backfill. Mining is undertaken using trackless, diesel-powered equipment including twin boom jumbos for development and long-hole drills for production drilling, and mined material is trucked to surface using 40 tonne trucks. 2026 OPERATOR GUIDANCE 155,000 to 175,000 ounces of gold. (2) LONGER-TERM OPERATOR OUTLOOK Gold production forecast based on reserves only is approximately 185,000 ounces in 2026, 115,000 ounces in 2027 and 30,000 ounces in 2028. (1) Royal Gold’s Stream Interest RGLD Gold AG owns the right to purchase 10.5% of payable gold produced from the Wassa mine until the delivery of 240,000 ounces, upon which the stream percentage will decrease to 5.5% for the remaining LOM. The cash purchase price for gold is 20% of the spot price of gold per ounce delivered until the delivery of 240,000 ounces, and 30% thereafter. Payable gold is calculated as 99.5% of contained gold in doré or 99% in any other form. (1) Source: Chifeng, February 28, 2025, Technical Report, LOM Ore Reserve Plan. (2) Source: Production estimate received from Chifeng. (3) Advance payment includes Bogoso and Prestea. (4) Investment recovered includes Bogoso and Prestea. Royal Gold | 2025/2026 Asset Handbook 125 STREAM INTRODUCTION ATTRIBUTES OF OUR BUSINESS PORTFOLIO OVERVIEW EXPECTED PERFORMANCE AND OUTLOOK PORTFOLIO DETAILS REFERENCE MATERIALS