144 ROYAL GOLD 2023 Asset Handbook Evaluation/Exploration Properties EVALUATION 1 (LISTED ALPHABETICALLY BY COUNTRY, AS OF DECEMBER 31, 2023) 1 Royal Gold considers and categorizes an exploration stage property to be an “evaluation stage” property if mineralized material has been identified on the property but reserves have yet to be identified. The U.S. Securities and Exchange Commission does not recognize the term “mineralized material”. Investors are cautioned not to assume that any part or all of the mineralized material identified on these properties will ever be converted into reserves. 2 The royalty is A$1.00 per tonne on the first 5 million tonnes of production; A$2.00 per tonne thereafter. 3 The 1.5% to 2.5% NSR sliding-scale royalty pays at a rate of 1.5% for the first 75,000 ounces produced in any 12 month period and at a rate of 2.5% on production above 75,000 ounces during that 12 month period. 4 The royalty rate is 1.0% until 250,000 ounces of gold has been produced, 1.5% thereafter. 5 Royalty applies on production above 10,000 ounces. 6 Royalty is capped at 500,000 ounces. 7 Royalty is 2.5% at grades above 1.5 g/t or 4.0% for grades at 1.5 g/t or less. 8 Royalty rate is 1.0% on Exploration claims and 2.0% on Gold claims. The 2.0% royalty on Gold claims has a 50% buy back for $1 million. Property Location Ownership Royalty Rate Balcooma Australia Aurora Metals Limited 1.5% NSR Bell Creek Australia Australian Mines Limited A$1.00 to A$2.00/tonne 2 Burnakura Australia Monument Mining Limited 1.5% to 2.5% NSR 3 Buttercup Bore Australia Horizon Gold Limited 2.0% GV Fisher East Australia Cannon Resources Limited A$5.00/oz Jaguar Nickel Australia Aeris Resources Limited 1.5% NSR (gold) Kundip Australia Medallion Metals Limited 1.0% to 1.5% GV 4 Meekatharra – Sabbath Australia Westgold Resources Limited A$1.00/tonne 5 Mt. Fisher Australia Rox Resources Limited A$5.00/oz 6 Paddington Australia Zijin Mining Group 1.75% NSR Phillips Find Australia Greenstone Resources Limited A$10.00/oz 7 Pinnacles Australia Nexus Minerals Limited/ Northern Star Resources Limited 1.5% NSR Quinns Austin Australia CNN Investments Pty Ltd 1.5% NSR Red October Australia Matsa Resources Limited 1.5% NSR (gold) Temora Australia Sandfire Resources Limited 12.5% NPI Ulysses Australia Genesis Minerals Limited 0.9% NSR Van Uden Australia Wesfarmers Limited/ Shandong Tianye Group 1.5% NSR Westmoreland Australia Laramide Resources Ltd. 1.0% NSR Yundamindra Australia Nex Metals Explorations Limited 1.5% NSR Inata Burkina Faso Balaji Group 2.5% GSR Swanson Canada Monarch Mining Corporation 1.0% or 2.0% NSR 8 Belcourt Canada Anglo American plc 0.103% GV (coal only) Berg Canada Surge Copper Corp. 1.0% NSR Bronson Slope Canada Seabridge Gold Inc. 1.0% NSR Caber Canada Glencore plc 1.0% NSR Follansbee Canada Evolution Mining Limited/ Equinox Gold Corp. 2.0% NSR Gold River Canada Pan American Silver Corporation 1.5% NSR Great Bear Canada Kinross Gold Corporation 2.0% NSR High Lake Canada MMG Limited 1.5% NSR Holt Canada Agnico Eagle Mines Limited 0.00013 x Au price NSR (gold) Horizon Coal Canada Anglo American plc 0.50% GV (coal) North Island Canada NorthIsle Copper and Gold Inc. 10.0% NPI