Revenue and Sales Performance - Total revenue for the quarter ended September 30, 2021, was $174.4 million, an increase from $146.9 million in the same quarter of 2020, driven by higher gold sales and an increase in average copper prices[112]. - Revenue for the three months ended September 30, 2021, was reported at $174.4 million, with an average gold price of $1,790 per ounce, silver at $24.36 per ounce, and copper at $4.25 per pound[135]. - A 10% increase in the average gold price would have increased total reported revenue by $12.9 million, while a 10% increase in copper and silver prices would have increased revenue by $4.0 million and $0.6 million, respectively[135]. Metal Prices and Market Conditions - Average gold price for the three months ended September 30, 2021, was $1,790 per ounce, contributing 73% to total revenue, compared to $1,909 per ounce and 75% in the same period of 2020[81]. - The average copper price for the three months ended September 30, 2021, was $4.25 per pound, contributing 14% to total revenue, compared to $2.96 per pound and 11% in the same period of 2020[81]. - The company anticipates continued volatility in metal prices, which significantly impacts revenue[80]. - The company reported a significant impact on earnings and cash flows due to fluctuations in the market prices of gold, silver, copper, and other metals[134]. Production and Deliveries - For the three months ended September 30, 2021, gold stream deliveries from Mount Milligan were approximately 10,800 ounces, down from 19,600 ounces in the same period of 2020[102]. - Silver deliveries for the quarter ended September 30, 2021, included approximately 377,800 ounces of normal-course stream deliveries and approximately 18,700 ounces of previously deferred deliveries, with 418,300 ounces remaining deferred as of September 30, 2021[104]. - Production attributable to royalty interest at Cortez was approximately 99,600 ounces of gold for the quarter ended September 30, 2021, compared to approximately 37,600 ounces for the same period in 2020, reflecting a significant increase[108]. - Barrick expects Pueblo Viejo to deliver gold production guidance of 470,000 to 510,000 ounces for calendar 2021, representing a 60% interest[106]. Acquisitions and Investments - The company acquired a 1.0% net smelter return royalty for $165 million covering the Red Chris Mine, which produces gold, copper, and silver[86][87]. - The NX Gold Mine acquisition involved a $100 million advance payment for 25% of gold produced until 93,000 ounces are delivered, with a price of 20% of the spot gold price for each ounce[84]. - Net cash used in investing activities totaled $272.7 million for the three months ended September 30, 2021, compared to net cash provided of $49.7 million in the same period of 2020, mainly due to the Red Chris royalty acquisition of $165 million and the NX Gold Stream acquisition of $100 million[125]. Financial Position and Liquidity - As of September 30, 2021, the company had current assets of $232.1 million and current liabilities of $60.3 million, resulting in a current ratio of 4 to 1[119]. - The company had total liquidity of approximately $1.1 billion as of September 30, 2021, including $900 million available under its revolving credit facility[121]. - Net cash provided by operating activities was $129.9 million for the three months ended September 30, 2021, up from $94.2 million in the same period of 2020, primarily due to an increase in cash proceeds from stream and royalty interests of approximately $33.1 million[124]. - Net cash provided by financing activities was $77.1 million for the three months ended September 30, 2021, compared to net cash used of $49.8 million in the same period of 2020, attributed to increased borrowings from the revolving credit facility[126]. Operational Challenges and Risks - The COVID-19 pandemic has caused temporary operational curtailments, but the overall financial condition has not been materially affected to date[82]. - The company highlighted risks associated with lower metal prices, operational disruptions, and changes in regulations that could materially affect future performance[132]. - Forward-looking statements indicate expectations regarding financial performance, including sales volume and revenue, but actual results may differ materially[130]. - The company emphasized the importance of monitoring macroeconomic conditions and market trends that could influence its operations and financial results[131]. Cost and Income - Cost of sales increased to $27.2 million for the quarter ended September 30, 2021, from $21.9 million in the prior year, primarily due to increased gold and copper sales from Mount Milligan[116]. - The company recorded net income of $70.2 million, or $1.07 per share, for the quarter ended September 30, 2021, down from $106.9 million, or $1.63 per share, in the same quarter of 2020[111].

Royal Gold, Inc. (NASDAQ:RGLD) Q4 2021 Results Conference Call August 12, 2021 12:00 PM ET Company Participants Alistair Baker - VP, IR & Business Development William Heissenbuttel - President, CEO & Director Mark Isto - EVP & COO Paul Libner - CFO & Treasurer Daniel Breeze - VP, Corporate Development Conference Call Participants Tyler Langton - JPMorgan Josh Wolfson - RBC Capital Markets Cosmos Chiu - CIBC Capital Markets Greg Barnes - TD Securities Tanya Jakusconek - Scotiabank Brian MacArthur - Raymon ...

Financial Performance - Royal Gold achieved record revenue of $615.9 million in fiscal year 2021, a 23% increase from $498.8 million in fiscal year 2020[14] - For the fiscal year ended June 30, 2021, the company reported total revenue of $615.9 million, with approximately 84% derived from precious metals, including 74% from gold and 10% from silver[31][232] - Total revenue for the year ended June 30, 2021, was $615,856,000, representing a 23.4% increase from $498,819,000 in 2020[251] - Operating income increased to $337,602,000 in 2021, up from $198,945,000 in 2020, marking a 69.8% growth[251] - Net income attributable to Royal Gold common stockholders was $302,532,000, compared to $199,343,000 in the previous year, reflecting a 51.9% increase[251] - Total segment gross profit for 2021 was $333.002 million, compared to $236.058 million in 2020, marking a 41% increase[366] - Basic EPS for the fiscal year ended June 30, 2021, was $4.61, up from $3.04 in 2020, representing a 51.5% increase[348] - Diluted EPS for the fiscal year ended June 30, 2021, was $4.60, compared to $3.03 in 2020, reflecting a 52.0% increase[348] Revenue Sources - As of June 30, 2021, stream interests accounted for approximately 69% of total revenue, while royalty interests accounted for 31%[26] - Total stream interests generated revenue of $359.9 million, with Canada contributing $158.7 million and the Dominican Republic $97.0 million[29] - Total royalty interests generated revenue of $139.0 million, with the United States contributing $48.7 million and Canada $30.5 million[29] - Stream revenue for gold was $324.0 million, up 9.9% from $294.5 million in fiscal year 2020, while silver stream revenue increased to $43.3 million from $32.7 million[328] - Royalty revenue for gold rose to $131.8 million, a 34.3% increase compared to $98.2 million in fiscal year 2020[328] Assets and Liabilities - The total stream and royalty interests, net, amounted to $2.26 billion as of June 30, 2021, compared to $2.32 billion in the previous year[27] - Total assets decreased to $2,651,605,000 in 2021 from $2,766,287,000 in 2020, a reduction of 4.1%[249] - Total liabilities significantly decreased to $148,190,000 in 2021 from $464,168,000 in 2020, a decline of 68.2%[249] - The company’s total equity increased to $2,503,415,000 in 2021 from $2,302,119,000 in 2020, an increase of 8.7%[249] Cash Flow and Dividends - Cash flows from operating activities increased to $407,151,000 in 2021, compared to $340,752,000 in 2020, an increase of 19.5%[257] - The company declared cash dividends of $1.18 per common share in 2021, up from $1.11 in 2020, a rise of 6.3%[251] - The company increased its calendar year dividend to $1.20 per basic share, representing a 7% increase compared to the previous year[14] Acquisitions and Investments - Royal Gold made a total advance payment of $212 million for the Khoemacau Project silver stream, securing an 80% base silver stream[14] - The company acquired a 1.0% net smelter return royalty on the Côté Gold project for $75 million in cash[14] - Royal Gold entered into a precious metals purchase agreement for a gold stream interest in the NX Gold mine for $100 million, with additional payments of up to $10 million based on success[14] - The company has ongoing acquisition opportunities for stream and royalty interests, with various stages of active review[13] - The company made a $100 million advance payment for the NX Gold Stream acquisition on August 6, 2021, with potential additional payments of up to $10 million based on success-based targets[372] Market Conditions and Competition - The company faces significant competition in the mining industry, particularly in the stream and royalty segments, where larger competitors may have greater resources[32] - Throughout fiscal year 2021, operational curtailments due to COVID-19 did not materially impact the company's financial condition[14] - The company continues to monitor the impact of the COVID-19 pandemic on its operations, although results have not been materially affected to date[311] Sustainability and Human Capital - The company emphasizes the importance of human capital, with a strategy focused on attracting, developing, and retaining talent[37] - The company is committed to maintaining a safe workplace, achieving a total recordable injury frequency rate of zero for the past five years[41] - The company actively supports sustainability initiatives and community engagement in areas where it holds stream and royalty interests[45][46]

Fiscal Q3 2021 Results May 6, 2021 Cautionary Statement Forward-Looking Statements: This presentation includes "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 statements are not guarantees of future performance, and actual results may differ materially from these statements. Forward-looking statements are often identified by words like "will," "may," "could," "should," "wo ...

Financial Data and Key Metrics Changes - Total revenue for Q3 2021 was $143 million, a 5% increase compared to the prior year quarter, driven by higher average metal prices and strong performance from the Peñasquito royalty [11][28] - Earnings for the quarter were $54 million or $0.82 per share, representing a 39% increase year-over-year [12][33] - Operating cash flow was strong at just over $92 million, although it was down $7 million primarily due to higher cash taxes paid [13][34] - The company ended the quarter with a net cash position of $220 million and over $1.2 billion of liquidity [13][36] Business Line Data and Key Metrics Changes - The royalty segment contributed approximately 33% of revenue, mainly due to strong performance from Peñasquito [17] - Revenue from gold accounted for 68% of total revenue, down from 79% in the prior period, due to significantly higher increases in average silver and copper prices [28] - The average prices of gold, silver, and copper increased by 13%, 55%, and 51% respectively over the prior quarter [28] Market Data and Key Metrics Changes - The company reported a deferral of approximately 362,000 ounces of silver from Pueblo Viejo, which is expected to be made up as plant performance improves [18] - Production guidance for Nevada Gold Mines is expected to be between 350,000 to 375,000 ounces for 2021, significantly higher than the previous year's 175,000 ounces [26][51] Company Strategy and Development Direction - The company is focused on organic growth opportunities within its portfolio and remains active in pursuing new business opportunities [41][42] - The company has access to a full $1 billion credit facility, which allows it to act quickly on investment opportunities that fit its criteria [42][43] - The company is committed to funding social initiatives with its operating counterparties, promoting sustainability and community benefits [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's diverse portfolio and its ability to generate cash returns to shareholders [41] - The company anticipates that the operational issues at Pueblo Viejo will be resolved in the current quarter, leading to improved silver recoveries [88][90] - Management is cautious about providing long-term guidance due to the variability in production and operational challenges [60] Other Important Information - The company repaid $50 million on its revolving credit facility during the quarter and is now debt-free [13][37] - The Khoemacau project is progressing well, with construction completion reaching about 92% [19] Q&A Session Summary Question: Can you discuss deal activity and what you're seeing in terms of asset types and locations? - Management noted a healthy market with opportunities in the $100 million to $500 million range, focusing on development assets, particularly primary gold assets [48] Question: Regarding Pueblo Viejo, when should we expect the 362,000 ounces of silver? - Management indicated that the timing depends on operational improvements, suggesting a quarter-to-quarter follow-up [49] Question: Can you confirm the production guidance for Cortez? - Management confirmed the guidance of 350,000 to 375,000 ounces for 2021, with variability expected in production timing [51][53] Question: What is the status of the silver circuit recovery issues at Pueblo Viejo? - Management explained that the recovery issues are related to preheaters, which are being rebuilt, and improvements are expected in the current quarter [82][84] Question: Are there still opportunities available in royalty portfolios? - Management indicated that while the market is active, finding cornerstone assets has become challenging, and many desirable portfolios have already been sold [92]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-13357 Royal Gold, Inc. (Exact Name of Registrant as Specified in Its Charter) Delaware 84-0835164 (State or Other Jurisdiction of (I.R.S. Employer FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Qua ...

Financial Data and Key Metrics Changes - Total revenue for Q2 2021 was $158 million, representing a 28% increase compared to the prior year quarter, driven by higher average metal prices and strong contributions from the royalty segment [11][32] - Earnings for the quarter were $60 million or $0.91 per share, up 45% compared to the prior year quarter [14][38] - Operating cash flow increased by 28% to nearly $100 million [39] - The company maintained a net cash position of $182 million and total liquidity of over $1.2 billion at the end of the quarter [15][43] Business Line Data and Key Metrics Changes - The royalty segment contributed 32% of revenue, with significant contributions from the Peñasquito and smaller royalties [19] - The average price of gold, silver, and copper increased by 27%, 41%, and 22% respectively compared to the prior year quarter [33] - The revenue mix for the quarter was 76% from gold, 11% from copper, and 10% from silver [33] Market Data and Key Metrics Changes - The company reported record revenue driven by strong operating results across its portfolio, particularly from the royalty segment [11] - The Cortez revenue and Australian royalty portfolio revenue were both up over 100%, while Peñasquito and Marigold revenue increased over 50% [11] Company Strategy and Development Direction - The company remains focused on long-term returns when evaluating new investment opportunities, emphasizing patience in the current competitive market [49] - The company is committed to reducing debt and managing liquidity effectively, especially in light of potential COVID-19 impacts [44] Management's Comments on Operating Environment and Future Outlook - Management expressed caution regarding the operating environment amid potential COVID-19 impacts but remains optimistic about the company's strong financial position [44] - The company anticipates that the Khoemacau project will reach commercial production without requiring further funding beyond the expected $50 million [26] Other Important Information - The company raised its dividend for the 20th consecutive year to $1.20 per share, a 7% increase over the prior year payout [14] - The company completed its investment for the 80% base silver stream in the Khoemacau project, totaling $212 million [45] Q&A Session Summary Question: Additional funding needed for Khoemacau - Management confirmed that the additional $50 million needed for Khoemacau is primarily due to COVID-19 related costs [52][53] Question: Construction critical path items for Khoemacau - The critical path for Khoemacau includes mill refurbishment work, which has faced COVID-19 impacts [58] Question: Guidance for 2021 and operator performance - Management indicated that a clearer outlook for 2021 will be available in the next quarterly call, with Cortez exceeding its 2020 plan [60][61] Question: Potential impacts of US corporate tax changes - Management stated it is too early to determine the impact of potential tax changes under the new administration, expressing skepticism about significant changes occurring soon [62][63] Question: Khoemacau funding options - Management confirmed that while there are other potential funding sources, the outlined options are sufficient for the current funding gap [68] Question: Breakdown of other revenue sources - The largest contribution from other royalties came from the 4% NPI at Kurnalpi, generating $3.7 million [98]

Fiscal Q2 2021 Results February 4, 2021 Cautionary Statement Forward-Looking Statements: This presentation includes "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 statements are not guarantees of future performance, and actual results may differ materially from these statements. Forward-looking statements are often identified by words like "will," "may," "could," "should, ...

Royal Gold, Inc. (NASDAQ:RGLD) Q1 2021Results Conference Call November 5, 2020 12:00 PM ET Company Participants Alistair Baker - Vice President of Investor Relations & Business Development Bill Heissenbuttel - President & Chief Executive Officer Paul Libner - Chief Financial Officer & Treasurer Mark Isto - Executive Vice President & Chief Operating Officer Dan Breeze - Vice President Corporate Development RGAG Randy Shefman - General Counsel Conference Call Participants Operator Good day and welcome to the ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-13357 Royal Gold, Inc. (Exact Name of Registrant as Specified in Its Charter) Delaware 84-0835164 (State ...