58 ROYAL GOLD 2023 Asset Handbook Manitoba Ontario Quebec WILLIAMS ROYALT Y Williams Williams is an underground and open-pit gold mining operation, owned and operated by Barrick Gold Corporation (“Barrick”). Williams is located in northwestern Ontario, Canada, approximately 350 kilometers east of the city of Thunder Bay. Williams is part of Barrick’s larger Hemlo operation. Operational Overview The open-pit operation is a typical truck-and-loader/ hydraulic shovel operation. Underground stoping comprises longhole and Alimak mining methods. The processing plant consists of crushing, grinding, cyanide leaching, carbon-in-pulp (CIP), carbon stripping and reactivation, electrowinning and refining. The mill has two parallel grinding circuits each consisting of a 6,000 tonne coarse ore bin, a semi-autogenous grinding (SAG) mill, and a ball mill that is operated in closed circuit with hydrocyclones. 1 Provided for Hemlo and not Williams specifically. 2 Source: Barrick, November 18, 2022, Corporate Presentation OPER ATOR Barrick Gold Corporation MINER ALIZATION ST YLE Orogenic Au MINE T YPE Open-pit & Underground METAL(S) A u PRODUCT Doré ROYALT Y 0.97% NSR Royalty (all metals) YEAR OF ACQUISITION 2007 and 2010 TERM OF ROYALT Y Life of Mine MINE LIFE N/A 1 2024 OPER ATOR GUIDANCE Detail not publicly disclosed by operator. 1 LONGER-TERM OPER ATOR OUTLOOK Detail not publicly disclosed by operator. 1 CANADA Royal Gold’s Royalty Interest Royal Gold holds a 0.97% net smelter return (NSR) royalty on all metals produced from the Williams mine. Royal Gold acquired its 0.97% NSR royalty interest through two transactions: 1. Royal Gold acquired a 0.72% NSR interest at Williams on October 25, 2007, as part of the acquisition of Battle Mountain Gold Exploration Corporation. 2. Royal Gold acquired a 0.25% NSR interest at Williams, effective February 22, 2010, with the acquisition of International Royalty Corporation.