CANADA LaRonde Zone 5 LaRonde Zone 5 (“LZ5”) is an underground mine, located on the Bousquet property, immediately west of the LaRonde mine complex, in the Rouyn-Noranda mining district, northwestern Quebec, Canada. LZ5 is owned and operated by Agnico Eagle Mines Limited (“Agnico Eagle”). OPERATOR Agnico Eagle Mines Limited MINERALIZATION STYLE Orogenic Au MINE TYPE Underground METAL(S) Gold PRODUCT Doré ROYALTY 2.0% NSR (all metals) YEAR OF ACQUISITION 2008 TERM OF ROYALTY Life of Mine MINE LIFE 2036 (1) Operational Overview LZ5 was approved for development in February 2017 as an underground mining operation and achieved commercial production on June 1, 2018. Underground access is via a decline and the mining methods are longitudinal retreat with paste backfill, and transverse open stoping with paste or unconsolidated waste backfill. The ore is trucked to the surface and then two kilometers east to the LaRonde processing complex. Ore from LZ5 is commingled with ore from the LaRonde Mine (Penna Shaft) and treated through the 7,200 tpd CIP plant. 2026 OPERATOR GUIDANCE Detail not publicly disclosed by operator. (2) LONGER-TERM OPERATOR OUTLOOK Over the LOM, the LZ5 mine will be mined at a rate of 3,200 to 3,800 tpd. The mine will produce about 90,000 ounces of gold annually at peak production. (3) Royal Gold’s Royalty Interest Royal Gold holds a 2.0% NSR royalty on all metals produced from the LZ5 mine. Royal Gold acquired its royalty interest effective October 1, 2008, with the acquisition of Barrick Mining Corporation’s royalty portfolio, which included the LaRonde Zone 5 royalty. (1) Source: Agnico Eagle, Q4 2025 MD&A: Under current mine plans, the LaRonde mine and LZ5 are expected to be in production through 2034 and 2036, respectively. (2) Provided for the LaRonde Complex and not LZ5 specifically. (3) Source: Agnico Eagle, December 31, 2022, Technical Report. (4) Source: Agnico Eagle, February 12, 2026, Press Release. Royal Gold | 2025/2026 Asset Handbook 67 ROYALTY INTRODUCTION ATTRIBUTES OF OUR BUSINESS PORTFOLIO OVERVIEW EXPECTED PERFORMANCE AND OUTLOOK PORTFOLIO DETAILS REFERENCE MATERIALS