Royal Gold Provides Update on its Fiscal 2021 Third Quarter Stream Segment Sales

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, sold approximately 52,500 gold equivalent ounces¹ (“GEOs”) comprised of approximately 36,000 gold ounces, 484,000 silver ounces and 2,000 tonnes of copper related to its streaming agreements during its fiscal 2021 third quarter ended March 31, 2021 (“third quarter”). Third quarter stream sales were near the high end of the previous guidance range of 48,000 to 53,000 GEOs. The Company had approximately 33,000 GEOs in inventory at the end of the third quarter consisting of 28,500 gold ounces and 320,000 silver ounces. Inventory at the end of the third quarter was higher than the previous guidance range of 26,000 to 31,000 GEOs primarily due to timing of deliveries.

RGLD Gold AG’s average realized gold, silver and copper prices for the third quarter were $1,828 per ounce, $26.44 per ounce, and $8,575 per tonne ($3.89 per pound), respectively, compared to $1,880, $24.16, and $6,995 ($3.17), respectively, in the prior quarter ended December 31, 2020 (“second quarter”). Cost of sales was approximately $410 per GEO for the third quarter using the quarterly average silver-gold ratio of approximately 68 to 1 and copper-gold ratio of approximately 0.21 tonnes per ounce, compared to cost of sales of $432 per GEO in the second quarter. Cost of sales is specific to our streaming agreements and is the result of the Company’s purchase of gold, silver or copper for cash payments at a set contractual price, or a percentage of the prevailing market price of gold, silver or copper when purchased.

Corporate Profile

Royal Gold is a precious metals stream and royalty company engaged in the acquisition and management of precious metal streams, royalties and similar production-based interests. As of March 31, 2021, the Company owned interests on 187 properties on five continents, including interests on 41 producing mines and 19 development stage projects. Royal Gold is publicly traded on the Nasdaq Global Select Market under the symbol “RGLD.” The Company’s website is located at www.royalgold.com.

For further information, please contact:		Third Quarter 2021 Call Information:
Alistair Baker