121 Overview Principal Producing Development  Highlighted Evaluation  Evaluation/Exploration  Mineral Resources and Reserves For more information, please visit: www.tristargold.com . Castelo de Sonhos Castelo de Sonhos (“CDS”) is a gold development project owned by TriStar Mineração do Brasil Ltda, a wholly owned subsidiary of TriStar Gold Inc. (“TriStar”). CDS is located in Pará State Brazil, approximately 20 kilometers from the town of Castelo de Sonhos. Development Update TriStar completed a Preliminary Economic Assessment for CDS in September 2018 and a Pre-Feasibility Study (PFS) in October 2021. CDS is envisioned as a conventional open-pit operation and currently awaits approval of its Prior License (LP). A public hearing, the last milestone in the LP permitting process, took place on November 22, 2023. The State of Pará will review and issue the LP, at their discretion. The LP represents the first of a three-stage environmental licensing process required for mining projects in Brazil. 2 Royal Gold’s Royalty Interest Royal Gold holds a 1.5% net smelter return (NSR) royalty on all metals produced from CDS. Royal Gold also holds an option to purchase an additional 1.0% NSR royalty on production from CDS for a further investment of $5.0 million to $8.0 million to be determined by reference to mineralized material at CDS when the option is exercised. Royal Gold acquired the 1.5% NSR royalty from TriStar on August 2, 2019 3 , and the option for the additional 1.0% NSR royalty on May 28, 2019. MINER AL RESOURCES AND RESERVES As of October 4, 2021 CONTAINED Au (koz) AGEOs* (koz) Proven and Probable 1,360 20 Measured and Indicated 1,459 22 Inferred 741 11 * AGEOs do not consider adjustments that may impact the economic viability of the AGEO interest. See page 9 for a description of AGEO calculation methodology. 1 Source: TriStar, 2021 Pre-Feasibility Study 2 Source: TriStar, October 2, 2023, Press Release 3 Royal Gold also received warrants to purchase up to 19,640,000 common shares of TriStar. OPER ATOR Tristar Gold Inc. MINER ALIZATION ST YLE Paleo Placer ROYALT Y 1.5% NSR Royalty (all metals) YEAR OF ACQUISITION 2019 TERM OF ROYALT Y Life of Mine EXPECTED STARTUP DATE Detail not publicly disclosed by operator. EXPECTED MINE LIFE 11 years 1 BRAZIL PROJECT OUTLOOK As per its 2021 PFS, CDS is expected to average annual production of 146,000 ounces of gold for the first six years of operation. 1 Pará Amazonas Mato Grosso Tocantins Maranhão CASTELO DE SONHOS Amapá ROYALT Y Acquisition Cost US$M $7.3 Net Book Value US$M $7.3