DENVER – (COMMERCIAL THREAD) –Royal Gold, Inc. (NASDAQ: RGLD) (together with its subsidiaries, “Royal Gold” or the “Company”, “we” or “our”) announced today that its wholly owned subsidiary, RGLD Gold AG, has sold approximately 63,500 ounces of gold equivalent¹ (“GEO”) comprised of approximately 50,500 ounces of gold, 319,000 ounces of silver and 1,500 tonnes of copper related to its streaming agreements during its fourth quarter of fiscal 2021 ended June 30, 2021 (” fourth trimester “). Fourth quarter sales were in line with the previously provided 60,000-65,000 GEO forecast range. The Company had approximately 38,000 GEOs in inventory at the end of the fourth quarter, comprising 27,000 ounces of gold, 485,000 ounces of silver and 800 tonnes of copper. Inventories at the end of the fourth quarter were above the previously expected range of 31,000 to 36,000 GEO, mainly due to the timing of deliveries.

RGLD Gold AG’s average realized prices of gold, silver and copper for the fourth quarter were $ 1,801, $ 26.45 per ounce and $ 9,584 per tonne ($ 4.35 per tonne, respectively). pound), compared to $ 1,828, $ 26.44 and $ 8,575 ($ 3.89) for the prior quarter ended March 31, 2021 (“third quarter”). Cost of sales was approximately $ 388 per GEO for the fourth quarter using the quarterly average silver-to-gold ratio of approximately 68 to 1 and copper-to-gold ratio of approximately 0.19 tonnes per ounce, compared to cost third-quarter GEO sales of $ 410. . Cost of sales is specific to the Company’s streaming agreements and is the result of the Company’s purchase of gold, silver or copper for cash payments at a fixed contract price, or a percentage of the price. the prevailing market for gold, silver or copper at the time of purchase.

Company Profile

Royal Gold is a precious metals streams and royalties company engaged in the acquisition and management of precious metals streams, royalties and similar interests based on production. As of June 30, 2021, the Company held interests in 187 properties on five continents, including interests in 41 producing mines and 17 projects under development. Royal Gold is listed on the Nasdaq Global Select Market under the symbol “RGLD”. The Company’s website is located at www.royalgold.com.

Forward-looking statements: This press release contains “forward-looking statements” within the meaning of US federal securities laws. Forward-looking statements are statements other than statements of historical fact. Forward-looking statements are not guarantees of future performance, and actual results may differ materially from such statements. Forward-looking statements are often identified by words such as “will”, “could”, “could”, “should”, “should”, “believe”, “estimate”, “expect”, “anticipate”, ” forecast ”,“ potential ”,“ intention ”,“ continue ”,“ project ”or negatives of these words or similar expressions. Forward-looking statements include, among other things, statements about fourth quarter results of operations. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following: a lower pricing environment for gold, silver, copper, nickel or other metals ; the operating activities or financial performance of the properties in which we hold a flow or royalty interest, including variations between actual and expected performance, the ability of operators to complete projects on time and as planned, changes to mine plans and reserves, liquidity needs, mining and environmental risks, labor disputes, distribution and supply chain disruptions, permit and license issues or contractual issues involving our flow or royalty agreements; risks associated with doing business in foreign countries; our ability to identify, finance, develop and complete acquisitions; adverse economic and market conditions; changes in laws or regulations governing us, operators or operating properties; changes in management and key employees; the impacts of the COVID-19 pandemic; and other factors described in our reports filed with the Securities and Exchange Commission, including our Form 10-K for the fiscal year ended June 30, 2020, and subsequent Forms 10-Q. Most of these factors are beyond our ability to predict or control. Forward-looking statements speak only as of the date on which they are made. We disclaim any obligation to update forward-looking statements, except as required by law. Readers are cautioned not to place undue reliance on forward-looking statements.

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1. Gold equivalent ounces, or GEOs, are calculated by the Company as sales (in total or by segment to be presented) for a period divided by the average price of gold for that same period.