DEVELOPMENTS AND POTENTIAL Drilling has continued to infill the “Heart of Gold” at the Gwalia underground mine. Multiple high-grade intercepts were received, within and below the planned stoping envelope through FY2030, and laterally. Drill results continue to confirm the high-grade nature of the deposit and add further support to Gwalia’s reserves, well beyond the FY2030 stoping envelope. (4) At Tower Hill, operational readiness activities are advancing ahead of schedule and is on track for first ore in FY2028. (5) FINANCIAL AND OPERATING RESULTS As of December 31, 2025 Revenue to Royal Gold Since Inception US$M $68.2 Historic Revenue to Royal Gold 2024: 2025: US$M $4.0 $5.5 Acquisition Cost US$M $34.5 Investment Recovered % 198% Net Book Value US$M $7.9 MINERAL RESOURCES AND RESERVES As of December 31, 2024 Contained Gold (koz) AGEOs* (koz) Proven and Probable 2,156 32 Measured and Indicated 3,664 55 Inferred 1,060 16 * 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. Royal Gold | 2025/2026 Asset Handbook 131 For more information, please visit: www.genesisminerals.com.au INTRODUCTION ATTRIBUTES OF OUR BUSINESS PORTFOLIO OVERVIEW EXPECTED PERFORMANCE AND OUTLOOK PORTFOLIO DETAILS REFERENCE MATERIALS