EXPLORATION (LISTED ALPHABETICALLY BY COUNTRY, AS OF DECEMBER 31, 2025) Property Location Ownership Royalty Rate Martha Argentina Patagonia Gold Corporation 2.0% NSR (Au, Ag) Mina Cancha Argentina Pan American Silver Corporation 2.50% NSR Sierra Blanca Argentina Unico Silver Limited 2.0% NSR (1) Abbotts Australia New Murchison Gold Limited 1.5% NSR Arrow Australia Raiden Resources Ltd. 1.0% NSR Bungalbin Australia Mineral Resources Ltd. 3.5% GV Cheritons Find Australia Shandong Tianye Group 1.5% NSR Chesterfield Australia Tanzi Pty Ltd 1.5% NSR Cosmos Australia Medallion Metals Limited 1.5% NSR (all metals other than gold), $10 per ounce (Au) Croesus Australia Zijin Mining Group Co. A$1.25/tonne (2) Edna May Australia Ramelius Resources Limited 0.5% GSR Fisher East Australia Cannon Resources Limited A$5.00/oz (Au) (3) Forrestania Australia Medallion Metals Limited 1.5% NSR (Au) (4) Forrestania Australia Medallion Metals Limited 1.0% NVR (Ni) Forrestania (Redivium) Australia Redivium Limited 1.0% NVR (Ni) Leinster Australia Ore Resources Limited 2.5% NSR (Cu, Pt, Ni) Lounge Lizard Australia Medallion Metals Limited 1.5% NSR (Au) (5) Merlin Orbit Australia Lucapa Diamond Company Limited 1.0% GV Mt Newman-Victory Australia Genesis Minerals Limited 1.5% NSR Northwell Chilkoot Australia Northern Star Resources Limited 2.5% to 4.0% GV (6) Red Hill West Australia API Management Pty Ltd 2.5% NSR Scotia Australia Shine Resources Pty Ltd. 2.5% NSR (Cu, Pt, Ni) Southern Cross Nickel Australia Medallion Metals Limited 1.5% NSR (7) Stakewell Australia Diversified Asset Holdings Pty Ltd 1.5% NSR Wembley Durack Australia Westgold Resources Limited 1.0% NSR West Wyalong Australia Argent Minerals Limited/ Golden Cross Resources Limited 2.5% NSR Yandicoogina Australia Private 1.0% NSR Amapari Brazil Mineracao Amapari S.A. 3.0% NSR Rio Novo Brazil Ligga S.A. 0.375% GSR (iron ores) (8) and 0.75% NSR (all other mineral products) Serra Pelada Brazil Colossus Minerals Inc. 2.0% NSR Bongou Burkina Faso Predictive Discovery Limited 1.0% NSR Bouboulou Burkina Faso Nexus Gold Corp. 1.0% NSR Niangouela Burkina Faso Nexus Gold Corp. 1.0% NSR (1) Operator has the option to purchase 1.0% of the 2.0% NSR prior to commercial production for C$1 million. (2) Royalty is paid on dollars per tonne of ore above 50,000 tonnes up to 500,000 tonnes. (3) Royalty is capped at 500,000 ounces. (4) Royalty is payable on gold only. (5) Royalty is payable on gold only. (6) Royalty is 2.5% at grades above 1.5 g/t or 4.0% for grades at 1.5% or less. (7) Royalty payable on all minerals, except nickel or any by-products in whatever form or state. (8) Operator has the option to purchase the 0.375% GSR on iron ores for US$1.25 million. 188 Royal Gold | 2025/2026 Asset Handbook INTRODUCTION ATTRIBUTES OF OUR BUSINESS PORTFOLIO OVERVIEW EXPECTED PERFORMANCE AND OUTLOOK PORTFOLIO DETAILS REFERENCE MATERIALS