Royal Gold — Nov 5, 2025 release

Outlook for 2025 We are currently forecasting that 2025 metal sales, DD&A and effective tax rate (excluding any contributions or impacts from the Kansanshi stream, Sandstorm and Horizon transactions, and Mount Milligan Deferred Gold Consideration) will be within the ranges previously provided on March 13, 2025. 5 Property Highlights A breakdown of revenue for the Company’s stream and royalty portfolio can be found on Table 1 for the quarters and nine month periods ended September 30, 2025 and September 30, 2024. Table 2 shows a quarterly breakdown of stream metal sales and metal sales attributable to the Company’s royalty interests for the Company’s principal stream and royalty properties. Table 3 shows Royal Gold's 2025 sales volume guidance and year to date sales volume achieved. Table 4 shows s tream segment purchases and sales for the quarters and nine month periods ended September 30, 2025 and September 30, 2024 and inventories at September 30, 2025, June 30, 2025, and December 31, 2024. Highlights at certain of the Company’s principal producing and development properties during the quarter ended September 30, 2025, compared to the quarter ended September 30, 2024, are detailed in the Quarterly Report on Form 10-Q. CORPORATE PROFILE Royal Gold is a high margin, large-capitalization company that generates strong cash flows from a large and well-diversified portfolio of precious metal streams, royalties and similar production-based interests located in mining-friendly jurisdictions.