Royal Gold — May 6, 2026 release

("Solaris") following technical approval of the environmental impact assessment ("EIA") and publication of a pre-feasibility study ("PFS") for the Warintza Project • Repaid $75 million on the revolving credit facility, reducing the amount currently drawn to $525 million and increasing the amount available and undrawn to $875 million • Added new $600 million uncommitted accordion facility to the $1.4 billion revolving credit facility • Board of Directors authorized a $500 million share repurchase program Revenue Summary Three Months Ended March 31, Revenue (millions) 2026 2025 % Change Gold $ 333.9  $ 145.7  129.1  % Silver 73.0  23.6  209.4  % Copper 46.7  16.8  177.6  % Other Metals 15.5  7.3  112.9  % Total revenue $ 469.1  $ 193.4  142.5  % GEOs 2 96,300 67,600 42.5  % Revenue split stream / royalty 67% / 33% 63% / 37% Outlook for 2026 Royal Gold provided guidance for 2026 metal sales volumes, depreciation, depletion and amortization ("DD&A") expense and effective tax rate in March, 2026. We are currently forecasting that performance against these metrics will be within the ranges provided. 2026 Guidance Ranges Actual Performance Through March 31, 2026 Total Sales Gold (oz) 290,000–320,000 68,401 Silver (M oz) 3.0–3.5 0.9 Copper (M lb) 21.0–25.0 8.0 Other Metals (M) $34–$38 $16 DD&A (M) $339–379 $91 Effective Tax Rate 17–22% 19.5%* * Year to date effective tax rate excluding discrete tax items. 2 Acquisitions and Corporate Activity Enhanced Royalty Exposure at Corani and Mercedes and Sale of Highlander Silver Shares As previously announced, we entered into agreements on December 18, 2025, to restructure equity, debt and other interests in Bear Creek and its assets in return for increased royalty exposure to Bear Creek’s Corani Project in Peru, a new royalty interest over the Mercedes Mine in Mexico, cash, and shares in Highlander. This restructuring helped facilitate an agreement between Highlander and Bear Creek to combine their businesses. On February 26, 2026, our shares of Bear Creek were exchanged for shares of Highlander at a conversion of 0.1175 Highlander shares per one Bear Creek share. On March 27, 2026, we sold our shares in Highlander for a net realized gain of $9.9 million. After these transactions, our interests on Highlander's assets include a total 2.75% net smelter return ("NSR") royalty interest on the Corani Project and a 2.0% NSR royalty interest