113 Overview Principal Producing Development  Highlighted Evaluation  Evaluation/Exploration  Mineral Resources and Reserves For more information, please visit: www.o3mining.com . Marban Marban is an open-pit development project owned and operated by O3 Mining Inc. (“O3”). The Marban property is located in the western portion of the province of Quebec, Canada, approximately 15 kilometers northwest of Val-d’Or. The property lies at the junction of Dubuisson, Fournière, Malartic and Vassan townships. The Marban property is divided into two projects: Marban Alliance, the southeast portion of the property; and Horizon, which is broader and includes all the north and west parts of the Marban property. Royal Gold’s royalty covers only a portion of the Marban Alliance and Horizon properties but includes the Marban open-pit target, which is the subject of the current technical studies. Development Update Marban Alliance has been the subject of multiple technical studies during its development, including a Preliminary Economic Assessment in 2020 and a Prefeasibility Study in 2022. O3 expects to commence a Feasibility Study in the first half of 2024. 2 The project is being developed as a stand-alone operation with all necessary infrastructure, including open-pits, gold processing plant, tailings processing facilities, waste rock storage areas and all necessary access and production roads. Royal Gold’s Royalty Interest Royal Gold holds a 0.5% to 0.75% sliding-scale net smelter return (NSR) royalty on gold produced from certain claims included in the Marban Alliance property, and a 1.0% to 1.5% sliding-scale NSR royalty on gold produced from certain claims in the Horizon property. At a gold price below $350 per ounce, the royalty rate is 0.5% for the Marban Alliance and 1.0% for Horizon, which increases to 0.75% for the Marban Alliance and 1.5% for Horizon at a gold price equal to or above $350 per ounce. Royal Gold acquired this royalty as part of its acquisition of a royalty portfolio from Barrick Gold Corporation on July 31, 2008. 1 Source: O3, September 2022 Pre-Feasibility Study 2 Source: O3, January 31, 2024, Press Release 3 Acquired as part of a portfolio of royalties. An acquisition cost of nil was assigned to the Marban royalty. OPER ATOR 03 Mining Inc. MINER ALIZATION ST YLE Orogenic Au ROYALT Y 0.5% to 0.75% (Marban Alliance claims) and 1.0% to 1.5% (Horizon claims) Sliding-Scale NSR Royalty (gold only) YEAR OF ACQUISITION 2008 TERM OF ROYALT Y Life of Mine EXPECTED STARTUP DATE Detail not publicly disclosed by operator. EXPECTED MINE LIFE 10 years 1 CANADA PROJECT OUTLOOK Marban is expected to average annual production of 161,000 ounces per year over its mine life. 1 Saskatchewan Alberta Manitoba Ontario Quebec British Columbia Newfoundland and Labrador MARBAN ROYALT Y Acquisition Cost US$M $0.0 3 Net Book Value US$M $0.0 MINER AL RESOURCES AND RESERVES As of August 17, 2022 CONTAINED Au (koz) AGEOs* (koz) Proven and Probable 1,212 9 Measured and Indicated 548 4 Inferred 155 1 * 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.