13 ROYAL GOLD, INC. | INVESTOR PRESENTATION | SEPTEMBER 2025 2024 Revenue By Operator 2024 Revenue By Mine 26% 19% 11% 7% 7% 6% 5% 5% 15% Centerra Barrick Newmont Chifeng Teck New Gold Ero Copper MMG Other No single operator materially drives revenue 26% 11% 10% 7% 7% 6% 6% 5% 5% 17% Mt. Milligan Pueblo Viejo Cortez Wassa Andacollo Peñasquito Rainy River Xavantina Khoemacau Other No individual mine materially dominates the portfolio By Property Stage (Attributable GEOs, Millions) 1 By Geography (Attributable GEOs, Millions) 1 7.8 1.0 3.0 Producing Development Eval./Expl. 3.9 1.9 4.0 1.3 0.6 Canada USA Latin America Africa Australia Diversified Portfolio Reduces Single-Asset & Counterparty Risk Proven & Probable Measured & Indicated Inferred 1 – Refer to 2024 Asset Handbook for details on metal prices and methodology used to calculate AGEOs; does not include Kansanshi and Warintza, and potential additions from Sandstorm Gold and Horizon Copper portfolios.