Phillips Find OPERATOR Horizon Minerals Limited COUNTRY: Australia MINE LIFE: Detail not publicly disclosed by operator. METAL(S): Gold ROYALTY: A$10.00/oz (gold only) REVENUE TO ROYAL (2025): N/A INVESTMENT RECOVERED: N/A REVENUE TO ROYAL GOLD SINCE OCT. 20, 2025: N/A The Phillips Find Project is located approximately 45 kilometers north-northwest of Coolgardie, Western Australia. Mining operations at Phillips Find commenced in October 2024, with the development of two open-pits to be completed under a Joint Venture Agreement with BML Ventures Pty Ltd. The first gold bar from Phillips Find was poured on February 24, 2025. (1) Royal Gold owns a royalty on the Phillips Find Project which pays A$10.00 per ounce of gold produced. The royalty applies to production above 40,000 ounces and is capped at A$1 million. As of December 31, 2025, the 40,000 ounce threshold has not been met. Royal Gold acquired this royalty interest effective October 1, 2008, as part of the acquisition of a royalty portfolio from Barrick Mining Corporation. For more information, please visit: www.horizonminerals.com.au (1) Source: Horizon Minerals, Corporate Website. (2) Mineral Resources and reserves details for Phillips Find are provided in the Mineral Resources and Reserves section of this document, if available. Southern Cross OPERATOR Shandong Tianye Group COUNTRY: Australia MINE LIFE: Detail not publicly disclosed by operator. METAL(S): Gold ROYALTY: 1.5% NSR (all metals) REVENUE TO ROYAL (2025): $3.1 million INVESTMENT RECOVERED: 251% REVENUE TO ROYAL GOLD SINCE INCEPTION: $26.5 million The Southern Cross operation comprises a number of underground and open-pit gold mines, extending from Bullfinch (in the north) to Marvel Loch (in the south) in Western Australia, approximately 13 kilometers south of the town of Southern Cross and 360 kilometers east of Perth. Southern Cross is owned by Barto Gold Mining Pty Ltd, a subsidiary of Shandong Tianye Group Bid Co Pty Ltd, and managed by Minjar Gold Pty Ltd., a subsidiary of Jinan High-tech Development Co. Ltd. Royal Gold holds a 1.5% NSR royalty on all metals from the Southern Cross operation. Royal Gold acquired this royalty as part of its acquisition of International Royalty Corporation, which was completed on February 22, 2010. (1) Mineral Resources and reserves details for Southern Cross are provided in the Mineral Resources and Reserves section of this document, if available. Royal Gold | 2025/2026 Asset Handbook 139 INTRODUCTION ATTRIBUTES OF OUR BUSINESS PORTFOLIO OVERVIEW EXPECTED PERFORMANCE AND OUTLOOK PORTFOLIO DETAILS REFERENCE MATERIALS