ò Producing ò Development ò Evaluation ò Exploration NEVADA (UNITED STATES) Nevada is one of the most important gold mining regions in the world. It has produced gold for over a century, but its true potential emerged in the late 20th century with the discovery of Carlin-type deposits. The four major structural corridors containing these deposits are the Carlin, Battle Mountain-Eureka, Cortez and Getchell Trends. Nevada by the Numbers: • Total historical estimates of gold production exceed 200 million ounces since mining began in the mid-1800’s. • Nevada produces 70-75% of all gold mined in the United States. • Multiple single deposits containing over 10 million ounces have been discovered. Royal Gold in Nevada by the Numbers: • Royal Gold has interests in over 30 properties in Nevada, with over 10 producing assets on all the major trends. • Royal Gold considers the Cortez Complex as a single property, and it includes four producing mines (Crossroads/Pipeline, Cortez Hills, Goldrush), two mines in development (Robertson, Fourmile), and several prospective exploration targets. • Nevada interests contributed over 10% of Royal Gold’s revenue in 2025. Royal Gold | 2025/2026 Asset Handbook 15 INTRODUCTION ATTRIBUTES OF OUR BUSINESS PORTFOLIO OVERVIEW EXPECTED PERFORMANCE AND OUTLOOK PORTFOLIO DETAILS REFERENCE MATERIALS