12 ROYAL GOLD 2023 Asset Handbook Exposure to Important Mining Regions As Royal Gold has built its asset portfolio over time, it has established significant exposure to key mining regions. While Royal Gold does not have an explicit strategy to target specific mining regions, certain mining regions have consistently demonstrated characteristics that Royal Gold seeks, such as a rich mineral endowment and a stable regulatory environment. This section highlights Royal Gold’s exposure to key mining regions in Nevada, British Columbia, Ontario, Quebec and Western Australia. The Red Lake area is composed of several communities, all built around former or currently operating gold mines. With a long and rich mining history, a number of mining operators are active in Red Lake today , working to unlock further mining potential in the area. 1 Source: Evolution Mining, 2023 Annual Report 2 Source: Kinross Gold, November 2023 Corporate Presentation RED LAKE BY THE NUMBERS: • The namesake Red Lake gold mine, which began production in 1949, has produced more than 25 million ounces of gold at an average grade in excess of 20 g/t. 1 • Two of the largest historical gold-producing mines, Red Lake and Madsen, have changed hands in the past five years to new operators looking to invest and re-energize operations. ROYAL GOLD IN RED LAKE BY THE NUMBERS: • Royal Gold has royalty interests on one development, two evaluation and three exploration properties in the Red Lake area. • Red Lake is home to Royal Gold’s evaluation stage Great Bear royalty, which is expected to begin production in 2029. 2 Red Lake 1 2 3 5 6 4 Red Lake (Canada) Royalty Claims Evaluation Exploration Development Producing 1 Bateman Gold 2 Follansbee 3 Great Bear 4 Red Lake 5 McKenzie Red Lake 6 Cochenour