140 ROYAL GOLD 2023 Asset Handbook Los Chancas The Los Chancas Project is located in Southern Peru approximately 65 kilometers southwest of the city of Abancay in the Department of Apurimac, and is owned and operated by Southern Copper Corporation (“Southern Copper”). Development Update Currently classified by Southern Copper as exploration stage, Los Chancas is envisioned as an open-pit mine with a combination of concentrator and solvent extraction and electrowinning (SX-EW) processes. A Feasibility Study was completed in 2020 and a Technical Report summary was published in 2021. Among other activities, in 2024, Southern Copper expects to restart the environmental impact assessment for Los Chancas. Royal Gold’s Royalty Interest Royal Gold holds a 0.375% net smelter return (NSR) royalty on all metals produced from Los Chancas. Royal Gold acquired the Los Chancas royalty from a private party, effective December 23, 2020. Acquisition Cost US$M $6.6 Net Book Value US$M $6.6 MINER AL RESOURCES AND RESERVES As of December 31, 2023 CONTAINED Cu (Mlb) AGEOs* (koz) Proven and Probable – – Measured and Indicated 1,648 12 Inferred 14,165 104 * 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 Southern Copper Corporation MINER ALIZATION ST YLE Porphyry Cu-Au ROYALT Y 0.375% NSR Royalty YEAR OF ACQUISITION 2020 TERM OF ROYALT Y Life of Mine EXPECTED STARTUP DATE 2030 1 EXPECTED MINE LIFE Detail not publicly disclosed by operator. PERU PROJECT OUTLOOK Southern Copper expects the Los Chancas Project to produce approximately 118,000 tonnes (130,000 tonnes) of copper and 6,800 tonnes (7,500 tonnes) of molybdenum per year starting in 2030. 1 For more information, please visit: www.southerncoppercorp.com . 1 Source: Southern Copper, Q3 2023 Corporate Presentation Ecuador Peru Bolivia Colombia Ecuador Brazil Pe r u LOS CHANCAS ROYALT Y