PROJECT OUTLOOK As per the FS, the Hugo North Extension Lift 1 outlines total recovered metals of 1,249,000 pounds of copper, 549,000 ounces of gold, and 3,836,000 ounces of silver over a 17-year mine life. As per the PEA, the Hugo North Extension Lift 2 outlines total recovered metals of 4,564,000 pounds of copper, 2,025,000 ounces of gold, and 15,067,000 ounces of silver over a 22-year mine life. Heruga is the southern most deposit at Oyu Tolgoi. While Heruga is not included in the PEA, it provides opportunity for future exploration and potential development. (1) MINERAL RESOURCES AND RESERVES As of December 31, 2025 Contained Copper (Mlb) Gold (koz) Silver (koz) AGEOs* (koz) Proven and Probable 1,333 683 4,583 36 Measured and Indicated 2,983 1,468 11,234 79 Inferred 3,691 1,915 14,701 103 * 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. 170 Royal Gold | 2025/2026 Asset Handbook For more information, please visit: www.riotinto.com INTRODUCTION ATTRIBUTES OF OUR BUSINESS PORTFOLIO OVERVIEW EXPECTED PERFORMANCE AND OUTLOOK PORTFOLIO DETAILS REFERENCE MATERIALS