DEVELOPMENTS AND POTENTIAL The Granite Creek underground mine is in operation and currently ramping up to full production. i-80 is targeting average annual production of 60,000 ounces over an eight-year mine life. A FS is underway and expected to be completed in Q1 2026 that will include an updated operational plan and results from new drilling in the South Pacific Zone. The Granite Creek open-pit, adjacent to the underground mine, is at the study and permitting stage. i-80 completed a PEA in March 2025 that defines a large open-pit mine producing approximately 130,000 ounces per year over a 10-year mine life. Technical work is underway to advance the project towards either a pre-feasibility or a feasibility level study. (2) FINANCIAL AND OPERATING RESULTS As of December 31, 2025 Revenue to Royal Gold Since Inception US$M $7.8 Historic Revenue to Royal Gold 2024: 2025: US$M $1.1 $5.0 Acquisition Cost US$M $4.1 Investment Recovered % 192% Net Book Value US$M $0.0 MINERAL RESOURCES AND RESERVES As of December 31, 2024 Contained Gold (koz) AGEOs* (koz) Proven and Probable – – Measured and Indicated 1,696 56 Inferred 401 21 * 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. 64 Royal Gold | 2025/2026 Asset Handbook For more information, please visit: www.i80gold.com INTRODUCTION ATTRIBUTES OF OUR BUSINESS PORTFOLIO OVERVIEW EXPECTED PERFORMANCE AND OUTLOOK PORTFOLIO DETAILS REFERENCE MATERIALS