123 Overview Principal Producing Development  Highlighted Evaluation  Evaluation/Exploration  Mineral Resources and Reserves For more information, please visit: www.orvana.com . Don Mario Don Mario is an open-pit copper-gold-silver mine, owned by Empresa Paititi S.A., a wholly-owned subsidiary of Orvana Minerals Corp. (“Orvana”). Don Mario is located within the San Juan Canton, Chiquitos Province, Santa Cruz Department in eastern Bolivia, approximately 380 kilometers east of Santa Cruz de la Sierra and 76 kilometers from San Juan de Chiquitos. Development Update Orvana placed Don Mario into care and maintenance on November 8, 2019, and is currently evaluating the potential to restart operations with the Oxide Stockpile Project (OSP) and the Tailings Reprocessing Project (TRP). OSP construction is expected to start once the project is fully funded. OSP is projected to operate for 35 months, starting after a 13-month construction period that Orvana expects to start in the first half of calendar 2024, subject to completion of sufficient financing. 1 Royal Gold’s Royalty Interest Royal Gold holds a 3.0% net smelter return (NSR) royalty on all metals produced from the Don Mario project. Royal Gold acquired its royalty interest on October 25, 2007, as part of the acquisition of Battle Mountain Gold Exploration Corporation. MINER AL RESOURCES AND RESERVES As of September 30, 2022 CONTAINED Au (koz) Ag (koz) Cu (Mlb) AGEOs* (koz) Proven and Probable 121 3,221 86 10 Measured and Indicated 71 927 54 6 Inferred 24 190 14 2 * 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: Orvana Minerals, December 2023 Corporate Presentation OPER ATOR Orvana Minerals Corp. MINER ALIZATION ST YLE VMS ROYALT Y 3.0% NSR Royalty (all metals) YEAR OF ACQUISITION 2007 TERM OF ROYALT Y Life of Mine EXPECTED STARTUP DATE Detail not publicly disclosed by operator. EXPECTED MINE LIFE OSP and TRP have potential to add 6-7 years of mine life. 1 BOLIVIA PROJECT OUTLOOK Detail not publicly disclosed by operator. DON MARIO Namibia Oruro El Beni La Paz Pando Cochabamba Santa Cruz Potosi Chuquisaca Mato Grosso (Brazil) ROYALT Y Acquisition Cost US$M $10.5 Net Book Value US$M $0.0 Historical Revenue US$M $15.4