18. Fruta del Norte resources and reserves are reported under CIM standards and have an effective date of 12/31/2025. Gold prices for reserves and resources are $1,700 and $2,000 respectively. Metallurgical recoveries used are 91.2%, and resource cut-off grades are 2.59 to 2.70 gpt depending on resource area. 19. Goldstrike resources and reserves are reported under CIM standards and have an effective date of 12/31/2024. $1,700 Au price is used for resources and $1,300 for reserves with a cut-off grade of 0.027 to 0.034 oz/t. 20. Granite Creek resources are reported to CIM standards with an effective date of 12/31/2024. There are no reserves reported for Granite Creek. The property is considered a production property because processing of material from underground development produced gold ounces during the year. Gold price used for resources is $2,040 for open-pit and $2,175 for underground. Cut-off grades are 0.3 g/t open-pit and range from 5.4 to 7.58 g/t for underground. 21. Greenstone resources and reserves are reported under CIM standards and have an effective date of 6/30/2024. Gold prices for reserves and resources are $1500 and $1550, respectively. Cutoff grades vary from 0.3 to 2.4 gpt depending on resource area and mining method. Recovery assumptions range from 90-92%. 22. Gualcamayo disclosure is based on disclosure by the previous operator as no public information is available from Asia group. Resources are disclosed based on CIM standards with an effective date of 12/31/2022. A gold price of $1,700 and metallurgical recovery of 87% were used. 23. Gwalia resources and reserves are reported under JORC standards and have an effective date of 12/31/2024. Gwalia, Tower Hill, and Harbour Lights areas are attributable to our royalty interest. AUS$2,800 Au price is used for reserves with a cut-off grade of 0.5 g/t for open pit and 3.5 g/t for underground. AUS$2,800 is used for resources with a cut-off grade of 0.5 for open pit and 2.5 g/t for underground. 24. Hounde resources and reserves are reported under CIM standards and have an effective date of 12/31/2024. Gold prices for reserves and resources are $1,900 and $2,100 respectively. Cut off grades for reserves vary from 0.4 to 1.0 gpt and for resources are 0.4 gpt Au. Metallurgical recoveries average 90%. Our reporting assumes 80% of the current resources and reserves are within the royalty area. 25. King of the Hills resources and reserves are reported under JORC standards and have an effective date of 6/30/2025. AUS$4,500 Au price is used for reserves, with cut-off grades of 0.3 g/t Au for open-pit and 1.3 g/t for underground. Resources use an AUS$3,500 pit shell with 0.4 g/t Au for open-pit resource and 1.0 g/t for underground. 26. Lamaque reserves and resources are reported under CIM standards and have an effective date of 12/31/2024. Gold prices for reserves are $1,450. Cut- off grades for reserves and resources are 3.5 gpt. Metallurgical recoveries average 95.6%. Quantities are reported as 25% of Triangle zone resources and reserves as an estimate of royalty coverage. 27. LaRonde Zone 5 resources and reserves are reported under CIM standards and have an effective date of 12/31/2023. Reserves and resources are reported using gold prices of $1,400 and $1,650, respectively. Cut-off grades vary by material type and depth but are not less than 1.56 g/t Au. 28. Leeville resources and reserves are reported under CIM standards and included in Newmont SK-1300 disclosure and have an effective date of 12/31/2024. Tonnages and grades for resources and reserves subject to our interest are provided directly by the operator. Gold prices used for reserves and resources are $1,400 and $1,700, respectively. Cut- off grades range from 0.145 to 0.197 oz/t. 29. Manh Choh resources and reserves are reported to CIM standards with an effective date of 12/31/2025. Reserves are reported using metal prices of $1,600 Au and $20 Ag. Resources are reported using metal prices of $2,000 Au and $25 Ag. Specific cut-off grades and recoveries are not reported. Kinross discloses their 70% of resources and reserves, which are factored to our 100% coverage. 30. Mara Rosa resources and reserves are reported to JORC standards with an effective date of 12/31/2024. Gold price of $1,750 was used for reserves and $2100 for resources. Specific recoveries and cut-off grades are not disclosed by the operator. 31. Marigold resources and reserves are reported under SK-1300 standards and have an effective date as of 12/31/2025. Gold prices used for reserves are $1,350, with a cut-off of 0.069 g/t payable Au. Gold prices used for resources are $1,750, with a cut-off of 0.069 g/t payable Au. 32. Meekatharra resources and reserves are reported under JORC standards and have an effective date of 6/30/2025. Metal prices used are AUS$2,400 for resources and reserves and cut-off grades vary by material and depth. Different areas of Meekatharra are subject to different royalty rates. The 1.5% to 2.5% NSR royalty pays at a rate of 1.5% for the first 75,000 ounces produced in any 12 month period and at a rate of 2.5% on production above 75,000 ounces during that 12 month period. 212 Royal Gold | 2025/2026 Asset Handbook INTRODUCTION ATTRIBUTES OF OUR BUSINESS PORTFOLIO OVERVIEW EXPECTED PERFORMANCE AND OUTLOOK PORTFOLIO DETAILS REFERENCE MATERIALS