UNITED STATES Relief Canyon Relief Canyon encompasses an open-pit mine and heap leach processing facility, owned by Americas Gold and Silver Corporation (“Americas Gold and Silver”). Relief Canyon is located at the southwestern flank of the Humboldt Range in Pershing County, Nevada, approximately 25 kilometers east-northeast of Lovelock and 160 kilometers northeast of Reno. ROYALTY OPERATOR Americas Gold and Silver Corporation MINERALIZATION STYLE Orogenic Au ROYALTY 2.0% NSR (all metals) YEAR OF ACQUISITION 2007 TERM OF ROYALTY Life of Mine EXPECTED STARTUP DATE Detail not publicly disclosed by operator. EXPECTED MINE LIFE Detail not publicly disclosed by operator. Development Update On August 31, 2021, Americas Gold and Silver suspended mining operations at Relief Canyon. Relief Canyon is currently on care and maintenance. 1 Royal Gold’s Royalty Interest Royal Gold holds a 2.0% net smelter return (NSR) royalty on all metals produced from Relief Canyon. Royal Gold’s royalty interest covers approximately 69% of the resource footprint by area. Royal Gold acquired its royalty interest on October 25, 2007, as part of the acquisition of Battle Mountain Gold Exploration Corporation. MINERAL RESOURCES AND RESERVES As of June 30, 2022 CONTAINED Gold (koz) Silver (koz) AGEOs * (koz) Proven and Probable – – – Measured and Indicated 395 1,074 12 Inferred 17 5 1 * AGEOs do not consider adjustments that may impact the economic viability of the AGEO interest. See page 11 for a description of AGEO calculation methodology. PROJECT OUTLOOK Detail not publicly disclosed by operator. Acquisition Cost US$M $0.9 Net Book Value US$M $0.0 Historical Revenue US$M $0.5 1 Source: Americas Gold and Silver, Management Information Circular, Nov. 7, 2024 ROYAL GOLD 2024 Asset Handbook 136 For more information, please visit: www.americas-gold.com