A World Class Streaming and Royalty Company

Management

Tony A. Jensen, , President and Chief Executive Officer

Tony Jensen has over 30 years of mining industry experience and is President and Chief Executive Officer of Royal Gold, Inc. Prior to Royal Gold, Mr. Jensen was the Mine General Manager of the Cortez Joint Venture and spent 18 years with Placer Dome. Mr. Jensen's extensive background is anchored in operational experience gained in the United States and Chile where he occupied several senior management positions. This operational experience is balanced by corporate administrative, finance and business development experience in various roles with Placer Dome and Royal Gold.

Mr. Jensen holds a Bachelor of Science degree in Mining Engineering from South Dakota School of Mines and Technology and also holds a Certificate in Finance from Golden Gate University in San Francisco.

William H. Heissenbuttel, , Chief Financial Officer and Vice President Strategy

William Heissenbuttel has more than 25 years of corporate finance experience that includes 20 years in project and corporate finance in the metals and mining industry. Mr. Heissenbuttel is Chief Financial Officer and Vice President Strategy for Royal Gold, Inc. Prior to Royal Gold, Mr. Heissenbuttel was employed in various capacities as the Senior Vice President at N M Rothschild & Sons, (Denver) Inc. and was responsible for the natural resources sector lending team for the Americas. Prior to joining Rothschild, Mr. Heissenbuttel was employed for five years at ABN AMRO Bank N.V. where he established their U.S. based mining project finance business.

Mr. Heissenbuttel holds a Master of Business Administration degree with a specialization in finance from the University of Chicago and a Bachelor of Arts degree in Political Science and Economics from Northwestern University.

Daniel K. Breeze, , Vice President Corporate Development

Daniel Breeze has 20 years of technical and commercial experience across international markets and is Vice President Corporate Development for RGLD Gold AG, a wholly owned subsidiary of Royal Gold, Inc. Prior to Royal Gold, Mr. Breeze served as Managing Director, Equities for BMO Capital Markets, based in their Zurich, Switzerland offices. His primary focus was on the mining sector where he developed strong relationships with a range of global mining participants and management teams. Prior to BMO, Mr. Breeze served at UBS Investment Bank with assignments in Paris, France, London, UK, and Toronto, Canada. Mr. Breeze gained global mining, construction, and project management experience with Golder Associates as a member of the firm’s geotechnical/mining team.

Mr. Breeze holds a Bachelor of Science degree in Civil Engineering from the University of Manitoba, graduate degrees in Engineering (M.Eng.) and Business Administration (MBA) from the University of Toronto and is a registered Professional Engineer (P.Eng.).

Mark E. Isto, , Vice President Operations

Mark Isto has 34 years of experience in mining engineering, mine management, and project development and is Vice President Operations for Royal Gold Corporation, a wholly owned subsidiary of Royal Gold, Inc. Prior to Royal Gold, Mr. Isto served as Vice President Operations for First Nickel. From 2006 to 2012, he served at the Vice President and Senior Vice President levels in the Projects Group at Kinross Gold. Over a career of nearly 25 years with Placer Dome, he held numerous management positions including Mine General Manager, Chief Engineer, Mine Superintendent, Project Director and Senior Advisor. Mr. Isto has extensive international experience and has worked at development projects and operations in the United States, Canada, Mexico, Brazil, Chile, Russia, Papua, New Guinea, Mauritania, and Ghana among others.

Mr. Isto holds a Master of Business Administration degree from the University of Nevada – Reno as well as a a Bachelor of Science degree in Mining Engineering from the Montana College of Mineral Science and Technology .

Bruce C. Kirchhoff,, Esq. , Vice President, General Counsel and Secretary

Bruce Kirchhoff has over 30 years of experience representing hardrock, industrial minerals, mining exploration and development companies, and is Vice President, General Counsel and Corporate Secretary for Royal Gold, Inc. Prior to Royal Gold Mr. Kirchhoff served as a partner with Carver Kirchhoff Schwarz McNab & Bailey, LLC (“CKSMB”) where he represented hardrock and industrial minerals clients as well as mineral exploration and development companies. Prior to CKSMB, Mr. Kirchhoff was a senior attorney with Cyprus Amax Minerals Company.

Mr. Kirchhoff holds a J.D. from the University of Denver, a Master of Science in Mineral Economics from Colorado School of Mines, and a Bachelor of Arts degree in Anthropology from Colorado College. He was an Adjunct Lecturer in Law at the University of Denver Sturm College of Law where he taught international mining law and policy.

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