117 Overview Principal Producing Development  Highlighted Evaluation  Evaluation/Exploration  Mineral Resources and Reserves For more information, please visit: www.westvaultmining.com . Hasbrouck Mountain Hasbrouck Mountain is an open-pit development project owned by WK Mining (USA) Ltd., a subsidiary of West Vault Mining Inc. (“West Vault”). Hasbrouck Mountain is located in the northern portion of Esmeralda County, Nevada, approximately 8 kilometers south of Tonopah, Nevada. Development Update On March 8, 2023, West Vault filed a Pre-Feasibility Study (PFS) for the Hasbrouck Project, updating a September 2016 PFS for recent economic conditions. The Hasbrouck Project will utilize two separate heap leach facilities located approximately 8 kilometers apart. The Three Hills Mine (not subject to Royal Gold royalty) will be constructed and operated first. The Hasbrouck Mine will be constructed after production commences at the Three Hills Mine, and it will be ready to produce when Three Hills Mine ceases production after two years as a 15,900 tonne per day heap leach operation. 1 Royal Gold’s Royalty Interest Royal Gold holds a 1.5% net smelter return (NSR) royalty on all metals produced from Hasbrouck Mountain. Royal Gold acquired this royalty as part of its acquisition of International Royalty Corporation, which was completed on February 22, 2010. MINER AL RESOURCES AND RESERVES As of January 11, 2023 CONTAINED Au (koz) Ag (koz) AGEOs* (koz) Proven and Probable 578 10,504 11 Measured and Indicated 72 1,652 1 Inferred 56 986 1 * AGEOs do not consider adjustments that may impact the economic viability of the AGEO interest. See page 9 for a description of AGEO calculation methodology. 1 Source: West Vault Mining, 2023 Pre-Feasibility Study 2 Acquired as part of a portfolio of royalties. An acquisition cost of nil was assigned to the Hasbrouck Mountain royalty. OPER ATOR West Vault Mining Inc. MINER ALIZATION ST YLE Carlin-Type Sediment- Hosted Au ROYALT Y 1.5% NSR Royalty (all metals) YEAR OF ACQUISITION 2010 TERM OF ROYALT Y Life of Mine EXPECTED STARTUP DATE Detail not publicly disclosed by operator. EXPECTED MINE LIFE 8.7 years 1 UNITED STATES PROJECT OUTLOOK As per its 2023 PFS, the Hasbrouck Project is forecasted to generate average annual gold production of 70,000 ounces and silver production of 319,000 ounces over its mine life. 1 Idaho Oregon California Utah Arizona HASBROUCK MOUNTAIN Nevada ROYALT Y Acquisition Cost US$M $0.0 2 Net Book Value US$M $0.0