156 ROYAL GOLD 2023 Asset Handbook 5. Pueblo Viejo resources and reserves are reported under CIM standards and have an effective date of 12/31/2023. Royal Gold’s stream interest is 60%, corresponding to Barrick’s 60% share of the project. Metal prices used for reserves are $1,300 Au and $18.00 Ag. Metal prices used for resources are $1,700 Au and $21.00 Ag. Specific cut-off grades are not disclosed. 6. Bald Mountain resources are reported to CIM standards as of 12/31/2016. Kinross has updated resources and reserves for the property but has not provided a breakdown of the portion of the material on our royalty ground. Reserves use a gold price of $1,200, resources use a gold price of $1,400. Specific cut-off grades and recoveries are not disclosed. 7. Bateman Gold is reported to JORC standards with an effective date of 12/31/2023. Royal gold royalty covers 80% of the McFinley resource area of the Red lake property according to Evolution mining. Gold price used for reserves is AUS$1,800 and the cut-off grade is 3.5 g/t Au. Gold price used for resources is AUS$2,500 with a cut-off grade of 2.5 g/t Au. 8. Bellevue reserves are reported under JORC standards and have an effective date of 5/4/2022. Gold price for reserves is AUS$1,700 and the cut-off grade is 3.5 g/t Au. Gold price for resources is AUS$1,750 and cut-off grade is 3.5 g/t Au. 9. Canadian Malartic reserves are reported under CIM standards and have an effective date of 12/31/2022. Royal Gold portion of reserves is reported to us by the operator. Reserves and resources use a $1,300 Au price and a cut-off grade of 0.41 g/t Au. 10. Dolores reserves are reported under CIM standards and have an effective date of 6/30/2022. Metal prices used for reserves are $1,350 Au and $18.00 Ag. Prices for resources are $1,600 Au and $20.00 Ag. Cut-off grades and specific Au and Ag recoveries vary by material type and process. 11. Don Nicolas is a producing property, but no reserves are disclosed. Resources are disclosed under CIM standards as of 8/31/2020. A gold price of $1,550 is used for resource reporting, with cut-offs of 0.3 g/t Au for open-pit and 3.0 g/t Au for underground. 12. El Limón resources and reserves are reported under CIM standards and have an effective date of 12/31/2023. Metal prices used for reserves were $1,500 Au and $23.00 Ag and cut-off grades range from 1.15 to 1.2 g/t Au in the open-pit and 2.3 to 3.36 g/t Au in the underground. For resources, gold prices of $1,600-1,700 and silver prices of $20.00-24.00 are used, with cut-off grades of 1.00 to 1.23 g/t Au in open-pits and 2.25 g/t in underground. 13. Goldstrike reserves are reported under CIM standards and have an effective date of 12/31/2022. The operator discloses the portion of resources and reserves attributable to our royalty area. $1,700 Au price is used for resources and reserves with a cut-off grade of 0.027 to 0.034 oz/t. 14. Gwalia resources and reserves are reported under JORC standards and have an effective date of 12/31/2023. Gwalia, Tower Hill, and Harbour Lights areas are attributable to our royalty interest. AUS$2,000 Au price is used for reserves with a cut-off grade of 4.0 g/t. AUS$2,500 is used for resources with a cut-off grade of 2.5 g/t. 15. King of the Hills resources and reserves are reported under JORC standards and have an effective date of 6/30/2023. AUS$2,000 Au price is used for reserves, with cut-off grades of 0.4 g/t Au for open-pit and 1.3 g/t for underground. Resources use an AUS$2,700 pit shell with 0.4 g/t Au for open-pit resource and 1.0 g/t for underground. 16. LaRonde Zone 5 resources and reserves are reported under CIM standards and have an effective date of 12/31/2023. Reserves and resources are reported using gold prices of $1,400 and $1,650, respectively. Cut-off grades vary by material type and depth but are not less than 1.56 g/t Au. 17. Leeville resources and reserves are reported under CIM standards and have an effective date of 12/31/2023. Gold prices used for reserves and resources are $1,300 and $1,700, respectively. Cut-off grades range from 0.145 to 0.197 oz/t. 18. Marigold resources and reserves are reported under SK-1300 standards and have an effective date as of 12/31/2022. The operator discloses our portion of reserves directly to Royal Gold. Gold prices used for reserves are $1,350, with a cut-off of 0.069 g/t payable Au. Gold prices used for resources are $1,750, with a cut-off of 0.069 g/t payable Au. 19. Meekatharra resources and reserves are reported under JORC standards and have an effective date of 6/30/2023. Metal prices used are AUS$2,400 for resources and reserves and cut-off grades vary by material and depth. 20. Bogoso and Prestea resources and reserves are reported under CIM standards with an effective date of 12/31/2020. Gold prices used for reserves and resources were $1,300 and $1,500, respectively. Cut-off grades vary by deposit area. 21. Rainy River resources and reserves are reported under CIM standards and have an effective date of 12/31/2023. Reserves use $1,400 Au and $19.00 Ag prices. Resources use $1,500 Au and $21.00 Ag prices. Cut-off grades for both resources and reserves are 0.3 g/t AuEq for open-pit 1.7 g/t AuEq for underground. 22. Red Chris resources and reserves are reported under SK-1300 and have an effective date of 12/31/2023. The operator reports their 70% ownership which is back-calculated to our 100% royalty coverage. Reserves use $1,300 Au and $3.00 Cu prices. Resources use $1,400 Au and $3.00 Cu prices. Cut-off grades vary with copper credits. 23. Ruby Hill does not have current reserves disclosed. We classify it as a producing property because of revenue from ongoing heap leaching. Ruby Hill resources are estimated under CIM standards with an effective date of 6/30/2021. Resources use a $1,650 Au price with 0.1 g/t open-pit and 3.6 g/t underground Au cut-off grades. 24. South Laverton resources and reserves are reported under JORC standards and have an effective date of 3/31/2024. The operator reports resources and reserves for Carosue Dam, of which our royalties cover certain deposit areas. Reserves and resources use AUS$1,850 and AUS$2,250 respectively. Cut-off grades are 0.56 g/t Au. 25. Southern Cross resources and reserves are reported to JORC standards and have an effective date of 7/24/2016. Reserves use a gold price of AUS$1,600 and a cut-off grade of 0.69 g/t Au. 26. Twin Creeks reports resources and reserves to CIM standards with an effective date of 12/31/2022. The Twin Creeks royalty is now a part of the Turquoise Ridge JV, operated by Nevada Gold Mines. NGM provides an annual statement of resources and reserves attributable to the Royal Gold royalty. Reserves and resources use gold prices of $1,300 and $1,700 respectively. Cut-off grades are 0.005 oz/t Au for leach and 0.022 oz/t for mill material. 27. Wassa resources and reserves are reported to CIM standards with an effective date of 12/31/2022. Reserves use a gold price of $1,800 and cut-off grades of 0.6 to 0.9 g/t for open-pit and 1.7 g/t underground. Resources use a gold price of $1,500 and cut-off grades of 0.55 g/t for open-pit and 1.4 g/t for underground. 28. Wharf reserves are reported to SK 1300 standards with an effective date of 12/31/2020. Coeur provides a report of reserves attributable to Royal Gold royalty interest. A gold price of $1,400 and a cut-off Au grade of 0.01 oz/short ton was used for reserve reporting. No separate reporting of resources attributable to Royal Gold interest is available. 29. Williams resources and reserves are reported to CIM standards with an effective date of 12/31/2023. Barrick reports to us the resources and reserves attributable to our royalty area. For reserves, a gold price of $1,400 was used, with cut-off grades of 0.43 g/t for open-pit and 2.43 g/t for underground. For Resources, a gold price of $1,700 was used, with cut-off grades of 0.36 g/t for open-pit and 1.95 g/t for underground. 30. Xavantina reports resource and reserves to CIM standards as of 12/31/2023. Resources and reserves use a gold price of $1,650/oz, and cut-off grade is $72/t. No measured or indicated resources are reported because 100% of measured and indicated resources report to reserves.