Royal Gold, Inc. · NASDAQ:RGLD
Royal Gold — Q3 2026 Earnings Presentation
11 slides from Royal Gold's earnings presentation, Nov 5, 2026
Slide 1: Third Quarter 2026 Results
NOVEMBER 5, 2026 Third Quarter 2026 Results
Slide 2: Cautionary Statements
CAUTIONARY STATEMENTS Forward-Looking Statements: This presentation and the accompanying webcast include “forward-looking statements” within the meaning of U.S. federal securities laws. Forward- looking statements are any statements other than statements of historical fact. Forward-looking statement
Slide 3: Today's Speakers
TODAY’S SPEAKERS Bill Heissenbuttel Paul Libner Martin Raffield President and CEO SVP and CFO SVP, Operations 3
Slide 4: Q3 2026 Overview
Q3 2026 Overview Highlights Other notable developments — Revenue of $464.8M (73% gold) — Repaid $250M on the revolver — Record cash flow from operations of $344.4M — Repurchased and cancelled 190,045 shares — Net income of $227.4M, or $2.68/share — After adjustments1, record net income of $238.3M, o
Slide 5: Q3 2026 Revenue: Record GEOs of 109,000
Q3 2026 Revenue Record GEOs1 of 109,000 Royalty Stream Revenue $146.4M $318.3M 32% YoY +70% +92% Higher Cortez Legacy Zone Andacollo $464.8M Contributions Peñasquito Mount Milligan Pueblo Viejo Total Revenue YoY Xavantina Khoemacau 68% New Sandstorm / Horizon interests Kansanshi Contributions Stream
Slide 6: 2026 Guidance: Strong YTD Performance from Silver, Copper and Other Metals
2026 Guidance Strong YTD Performance from Silver, Copper and Other Metals Sales 2026 Guidance Ranges Actual Through 2026 Guidance Ranges (Original) September 30, 2026 (Revised)1 Total Sales Gold (oz) 290,000–320,000 224,265 290,000–320,000 Silver (M oz) 3.0–3.5 2.6 3.0-3.5 Copper (M lb) 21–25 21.3 2
Slide 7: Operator Updates
Operator Updates PROPERTIES Mount Milligan On track to achieve guidance of 140,000-155,000 oz gold and 50-60M lb copper Andacollo Production impacts due to severe weather; copper production expected at the low end of the 45,000-55,000 t guidance range Kansanshi Copper production guidance narrowed to
Slide 8: Q3 2026 Revenue
Q3 2026 Revenue Total Revenue Average Metal Prices1 Q3 2026 Revenue By Metal $464.8M $4,262 $62.59 $6.40 10% 73% +23% COPPER GOLD +84% +59% +44% $3,457 14% $4.44 SILVER $252.1M $39.40 Q3 '25 Q3 '26 Q3 '25 Q3 '26 Q3 '25 Q3 '26 Q3 '25 Q3 '26 Gold Silver Copper Other Gold Silver Copper 1) LBMA PM fixin
Slide 9: Financial Results Q3 2026
Financial Results Q3 2026 Revenue: $464.8M Net Income: $227.4M, or $2.68/share — $13.2M G&A — $238.3M net income, or $2.80/share, adjusted2 to — $82.0M DD&A, or $752/GEO1 exclude: $(15.7)M, or $(0.18)/share – fair value changes in equity — $(15.7)M fair value change in equity securities securities —
Slide 10: Liquidity, September 30, 2026
Liquidity September 30, 2026 Liquidity: Outstanding financial commitments: — $150M debt and approximately $1.5B of liquidity — $50M for final Warintza stream and royalty available: advance payment Expected in Q4 2026 SEPTEMBER 30, 2026 Undrawn revolving credit facility $1,250M — Hod Maden 15% JV obl
Slide 11: Contact: [email protected]
DIRECT +1 303 573 1660 EMAIL [email protected] WEB www.royalgold.com