South Arturo OPERATOR Barrick Mining Corporation COUNTRY: United States MINE LIFE: Detail not publicly disclosed by operator. (1) METAL(S): Gold, silver ROYALTY: 40% of Silver Produced (Main Stream Area), 20% of Silver Produced (Exploration Stream Area) REVENUE TO ROYAL (2025): N/A REVENUE TO ROYAL GOLD SINCE OCT. 20, 2025: N/A INVESTMENT RECOVERED: N/A South Arturo is an open-pit and underground mine located about 54 kilometers northwest of Carlin, and approximately 5 kilometers northwest of the Goldstrike mine. The South Arturo mine is owned by Nevada Gold Mines, a joint venture between Barrick Mining Corporation (61.5%) and Newmont Mining Corp. (38.5%), and is part of the broader Carlin Complex. Royal Gold owns the right to purchase 40% of the silver produced from existing mineralized areas at South Arturo. Additionally, Royal Gold owns the right to purchase 20% of the silver produced from new discoveries at South Arturo. Royal Gold will make ongoing payments for each ounce of silver delivered equal to 20% of the spot price of silver. Royal Gold acquired the South Arturo silver stream effective October 20, 2025, with the acquisition of Sandstorm Gold Ltd. For more information, please visit: www.barrick.com (1) Provided for NGM’s Carlin Complex and not South Arturo specifically. (2) Mineral Resources and reserves details for South Arturo are provided in the Mineral Resources and Reserves section of this document, if available. Timmins West OPERATOR Pan American Silver Corp. COUNTRY: Canada MINE LIFE: Detail not publicly disclosed by operator. METAL(S): Gold ROYALTY: 1.0% NSR (all metals) REVENUE TO ROYAL (2025): N/A INVESTMENT RECOVERED: N/A REVENUE TO ROYAL GOLD SINCE OCT. 20, 2025: N/A Timmins West is located 14 kilometers southwest of the City of Timmins, Ontario. Timmins West is part of the broader Timmins operation which is owned and operated by Lake Shore Gold Corp., a subsidiary of Pan American Silver Corp. Royal Gold owns a 1.0% NSR royalty on metals produced from Thunder Creek and 144 Zone. Additionally, Royal Gold owns a 1.5% NSR royalty on metals produced from Gold River. Royal Gold acquired the 1.0% NSR royalty effective October 20, 2025, with the acquisition of Sandstorm Gold Ltd. Royal Gold acquired the 1.5% NSR royalty effective October 1, 2008, as part of the acquisition of a royalty portfolio from Barrick Mining Corporation. For more information, please visit: www.makominingcorp.com (1) Mineral Resources and reserves details for Timmins West are provided in the Mineral Resources and Reserves section of this document, if available. 98 Royal Gold | 2025/2026 Asset Handbook INTRODUCTION ATTRIBUTES OF OUR BUSINESS PORTFOLIO OVERVIEW EXPECTED PERFORMANCE AND OUTLOOK PORTFOLIO DETAILS REFERENCE MATERIALS