114. Relief Canyon resources are reported to CIM standards and have an effective date of 12/31/2024. We estimate 69% of Resources as attributable to our royalty area. No reserves are reported for Relief Canyon. Metal prices used for resources are $1,500 Au and $22.00 Ag. Specific cut-off grade is not reported. 115. San Juan Silver (Bulldog) resources are disclosed to SK 1300 standards with an effective date of 12/31/2023. Metal prices used are $1,700 Au, $21.00 Ag, $1.15 Pb and $1.35 Zn. NSR cut-offs are $100 to $175 per ton. The royalty rate is 3.0% on Homestake and Emerald unpatented claims; 1.0% on Emerald patented claims. 116. Schaft Creek resources are reported to CIM standards with an effective date of 12/31/2024. Metal prices used are $1,200 Au, $20.00 Ag, $3.00 Cu, and $10.00 Mo. NSR cut-off is $4.31. 117. Shasta resources are reported to CIM standards with an effective date of 12/29/2024. Metal prices used are $2,250 Au and $25.00 Ag. Cut-off grade is 0.4 g/t AuEq. Royalty covers Shasta but not TSF1 tailings. 118. Tambor resources are reported to NI 43-101 standards with an effective date of 12/10/2003. Royal Gold’s royalty area covers Guapinal, South Cliff, and Poza del Coyote zones. A cut-off grade of 0.3 g/t Au was used. Specific metal prices and metallurgical recoveries were not disclosed. The operator has the right to purchase half of the 4.0% NSR for $2 million within 24 months of commercial production. 119. Tavsan resources are reported to JORC standards with an effective date of March 2024. Gold cut-off grades used are 0.5 gpt and 1.5gpt depending on domain. Specific metals price and recovery assumptions are not disclosed. 120. Ulu resources are disclosed to CIM standards with an effective date of 2/18/2021. A gold price of C$1,500 and cut-off grade of 4 g/t Au were used. The royalty applies to production above 675,000 ounces. 121. Van Uden resources are disclosed to JORC standards with an effective date of 5/1/2025. Resources used a cut-off grade of 0.5 g/t Au. No metal prices or metallurgical recoveries were disclosed. 122. Wallbrook resources are disclosed to JORC standards with an effective date of 5/1/2024. Resources used a cut-off grade of 0.4 g/t Au and are reported inside an AUS$3,950 pit shell. Royal Gold interest covers an estimated 16% of the resource area. 123. Wildcat resources are disclosed to CIM standards with an effective date of 6/28/2023. A gold price of $1,800 and a cut-off grade of 0.15 g/t were used. The 1.0% NSR royalty applies to the SS lode claims only. The additional royalty pays 1.0% NSR on gold production between 500,000 ounces and 1.0 million ounces and increases to a 2.0% NSR on production in excess of 1.0 million ounces. This royalty applies to various claims on the property. 124. Wolverine resources are disclosed to NI 43-101 standards with an effective date of 1/30/2015. Cut-off grades and metal prices used were not disclosed. The gold royalty rate is based on the price of silver per ounce and is based on a sliding scale, which caps at 9.445% at a silver price equal to or above $7.50 per ounce. SILVER 125. Antamina resources and reserves are disclosed under JORC standards with an effective date of 12/31/2025. Metals prices use a variable pricing formula with is not disclosed. Specific cutoff are variable by domain. 126. Blende resources were disclosed under CIM standards with an effective date of 4/11/2018. A cutoff grade of 2.0 gpt ZnEq was used, based on $1.20 Zn, $1.00 Pb, and $19 Ag. 127. Corani resources and reserves are disclosed to CIM standards with an effective date of 11/5/2019. Metals price assumptions for reserves are $20 Ag, $0.95 Pb, $ 1 Zn. Metals price assumptions for resources are $30 Ag, $1.425 Pb and $1.50 Zn. Both reserves and resources us a $10.79/t NSR cut-off. Specific recoveries are not disclosed. 128. Cosala resources and reserves are disclosed to CIM standards with an effective date of 12/31/2024. Metals price assumptions for reserves are $1300 Au, $20 Ag, $2.75 Cu and $1.15 Zn. Metals prices for resources are $1500 Au, $22 Ag, $3.50 Cu and $1.30 Zn. Cutoff grades for reserves are $45 to $60/t NSR. Resource cutoffs are $34 to $45 NSR. Specific metallurgical recoveries are not disclosed. 129. Galena resources and reserves are disclosed to CIM standards with an effective date of 12/31/2024. Metals price assumptions for reserves are $20 Ag, $2.75 Cu and $0.90 Pb. Metals prices for resources are $22 Ag, $3.50 Cu and $1.10 Pb. Cutoff grades for reserves and resources are $225/t and $198/t NSR, respectively. Specific metallurgical recoveries are not disclosed. 130. Khoemacau resources and reserves are disclosed to JORC standards with an effective date of 6/30/2024. Royal Gold AOI covers the Zone 5 and Mango deposit areas. Royal Gold has a stream interest in silver production only, Khoemacau includes copper resources and reserves not listed here. Resources and reserves both use $23.00 Ag, with a $65.00/t NSR cut-off. Our stream interest at Khoemacau is 100% of payable silver produced. 218 Royal Gold | 2025/2026 Asset Handbook INTRODUCTION ATTRIBUTES OF OUR BUSINESS PORTFOLIO OVERVIEW EXPECTED PERFORMANCE AND OUTLOOK PORTFOLIO DETAILS REFERENCE MATERIALS