127 Overview Principal Producing Development  Highlighted Evaluation  Evaluation/Exploration  Mineral Resources and Reserves Northern Territory South Australia CELTICWONDER NORTH Western Australia ROYALT Y For more information, please visit: www.nsrltd.com . Celtic/Wonder North Celtic/Wonder North is a development project, owned and operated by Northern Star Resources Limited (“Northern Star”) and is located in the Northeastern Goldfields of Western Australia, approximately 60 kilometers north of Leonora. Celtic/Wonder North is part of the larger Thunderbox Operations (TBO), approximately 25 kilometers south of the Thunderbox plant. TBO is located within Northern Star’s Yandal Production Center. Development Update Major growth areas at Yandal include establishment of the Wonder underground as a high-grade feed source for the expanded Thunderbox mill; a maiden underground reserve was declared in May 2023, with underground mining expected to commence in the second half of fiscal 2024 (June 30 ending) at Wonder North. 1 Royal Gold’s Royalty Interest Royal Gold holds a 1.5% net smelter return (NSR) royalty on all metals produced from Celtic/Wonder North. 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 November 30, 2018 CONTAINED Au (koz) AGEOs* (koz) Proven and Probable – – Measured and Indicated 252 4 Inferred 410 6 * 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. OPER ATOR Northern Star Resources Limited MINER ALIZATION ST YLE Orogenic 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 Detail not publicly disclosed by operator. AUSTRALIA PROJECT OUTLOOK Detail not publicly disclosed by operator. Acquisition Cost US$M $1.0 Net Book Value US$M $1.0 1 Source: Northern Star, November 21, 2023, Press Release