Royal Gold’s Royalty Interest Royal Gold holds a 2.0% NSR royalty on all metals produced from the Great Bear Project. Royal Gold acquired this royalty interest effective September 9, 2022, as part of the acquisition of Great Bear Royalties Corp. (“GBR”). Kinross holds the right to purchase a 25% interest in the royalty for an amount equal to 25% of Royal Gold’s purchase price of GBR, adjusted for inflation, at any time from the transaction closing date until the earlier of a construction decision for the Great Bear Project and 10 years after the transaction closing date. This right was granted by Royal Gold to Kinross in return for a unique agreement between Royal Gold and Kinross that allowed Royal Gold access to Kinross personnel and certain non-public information pertaining to the Great Bear Project prior to the acquisition of GBR . PROJECT OUTLOOK As per the PEA, the Great Bear Project is expected to produce over 500,000 ounces of gold per year during the first eight years of its mine life. Importantly, the PEA provides a first view of Great Bear’s potential, while ongoing drilling demonstrates further potential upside as exploration progresses at depth. (3) MINERAL RESOURCES AND RESERVES As of December 31, 2025 Contained Gold (koz) AGEOs* (koz) Proven and Probable – – Measured and Indicated 2,712 54 Inferred 4,291 86 * AGEOs do not consider adjustments that may impact the economic viability of the AGEO interest. See page 12 for a description of AGEO calculation methodology. Royal Gold | 2025/2026 Asset Handbook 175 For more information, please visit: www.kinross.com INTRODUCTION ATTRIBUTES OF OUR BUSINESS PORTFOLIO OVERVIEW EXPECTED PERFORMANCE AND OUTLOOK PORTFOLIO DETAILS REFERENCE MATERIALS