DEVELOPMENTS AND POTENTIAL For 2026, gold production is expected to decrease primarily due to stockpile processing during planned stripping. Copper production is expected to decrease due to lower grades as stripping increases for Phase 8 and an updated pit design related to Phase 7. Newmont is advancing the FS, permitting activities and some underground development work to support the underground expansion project and an investment decision, which is expected to be considered by the Newmont Board of Directors in mid-2026. Additionally, the Red Chris Block Cave project has been designated as a project of national interest by the Government of Canada. (2) FINANCIAL AND OPERATING RESULTS As of December 31, 2025 Revenue to Royal Gold Since Inception US$M $13.7 Historic Revenue to Royal Gold US$M 2024: 2025: $2.6 $4.5 Acquisition Cost US$M $165.1 Investment Recovered % 8 % Net Book Value US$M $156.0 MINERAL RESOURCES AND RESERVES As of December 31, 2025 Contained Gold (koz) Copper (Mlb) AGEOs* (koz) Proven and Probable 5,181 2,963 89 Measured and Indicated 5,286 3,585 98 Inferred 1,000 781 20 * 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. 80 Royal Gold | 2025/2026 Asset Handbook For more information, please visit: www.newmont.com INTRODUCTION ATTRIBUTES OF OUR BUSINESS PORTFOLIO OVERVIEW EXPECTED PERFORMANCE AND OUTLOOK PORTFOLIO DETAILS REFERENCE MATERIALS