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Form of Proxy

SANDSTORM GOLD LTD.

Notes

No. Proposition For Against Abstain
1

To set the number of directors at eight (8).

2

DIRECTOR Nolan Watson

3

DIRECTOR David Awram

4

DIRECTOR David E. De Witt

5

DIRECTOR Andrew T. Swarthout

6

DIRECTOR John P.A. Budreski

7

DIRECTOR Mary L. Little

8

DIRECTOR Vera Kobalia

9

DIRECTOR Elif Lévesque

10

Appointment of PricewaterhouseCoopers LLP as auditors of the Company for the ensuing year and authorizing the directors to fix their remuneration.

11

To consider and, if deemed appropriate, to pass, with or without variation, an ordinary resolution to approve certain amendments to the companys stock option plan which convert the stock option plan from a rolling plan to a fixed maximum plan with an evergreen feature, all as more particularly described in the management information circular.

12

To consider and, if deemed appropriate, to pass, with or without variation, an ordinary resolution to approve unallocated stock options under the companys stock option plan, all as more particularly described in the management information circular.

13

To consider and, if deemed appropriate, to pass, with or without variation, an ordinary resolution to approve unallocated restricted share rights under the companys restricted share plan, all as more particularly described in the management information circular.

14

To consider and, if deemed appropriate, to pass, with or without variation, an ordinary resolution to approve the companys performance share plan and the 2024 performance share rights awards under it, all as more particularly described in the management information circular.

15

Say on Pay Advisory Vote To consider and, if deemed appropriate, to pass, with or without variation, a non-binding advisory resolution accepting the companys approach to executive compensation, all as more particularly described in the management information circular.