BRAZIL Aurizona The Aurizona mine is located in Maranhão State in northern Brazil, approximately 220 kilometers northwest of the capital city of São Luis. Aurizona is an orogenic gold deposit hosted in a greenstone belt of the São Luis Craton. The Aurizona mine was sold by Equinox Gold Corp. to CMOC Group Limited in January 2026. OPERATOR CMOC Group Limited MINERALIZATION STYLE Orogenic Au MINE TYPE Open-pit METAL(S) Gold PRODUCT Doré ROYALTY 3.0% to 5.0% Sliding-Scale NSR (all metals), 2.0% NSR (all metals) on Aurizona Greenfields YEAR OF ACQUISITION 2025 TERM OF ROYALTY Life of Mine MINE LIFE 2032 (1) Operational Overview Aurizona was an active open-pit operation from 2010 to 2015, producing approximately 329,000 ounces of gold at an average grade of 1.3 g/t. Ore was processed through a gravity and CIL plant with gold recoveries averaging 88%. Equinox Gold assumed management of the Aurizona mine in 2016 and restarted operations, achieving commercial production in July 2019. The current operation consists of the Piaba open-pit mine and a conventional crushing and grinding circuit with an 8,000 tonne-per-day CIL plant. 2026 OPERATOR GUIDANCE Detail not publicly disclosed by operator. LONGER-TERM OPERATOR OUTLOOK Detail not publicly disclosed by operator. Royal Gold’s Royalty Interest Royal Gold owns a sliding-scale NSR royalty on all metals produced from areas subject to our royalty interest at the Aurizona mine. The NSR royalty rate is 3.0% for gold prices below or equal to $1,500 per ounce, 4.0% for gold prices above $1,500 up to $2,000 per ounce, and 5.0% for gold prices above $2,000 per ounce. Royal Gold also owns a 2.0% NSR on all metals produced on the Aurizona Greenfields Project. Royal Gold acquired the Aurizona royalties effective October 20, 2025, with the acquisition of Sandstorm Gold Ltd. (1) Source: Equinox Gold, 2021 Technical Report. (2) Source: Equinox Gold, September 20, 2021, Press Release. (3) Source: Equinox Gold, Q3 2025 MD&A. 102 Royal Gold | 2025/2026 Asset Handbook ROYALTY INTRODUCTION ATTRIBUTES OF OUR BUSINESS PORTFOLIO OVERVIEW EXPECTED PERFORMANCE AND OUTLOOK PORTFOLIO DETAILS REFERENCE MATERIALS