Introduction Attributes of Our Business Portfolio Overview Expected Performance and Outlook Portfolio Details Reference Materials BRAZIL Mara Rosa Mara Rosa is an open-pit gold mine owned by Amarillo Mineração Do Brasil Ltda (“Amarillo”), a subsidiary of Hochschild Mining plc. (“Hochschild”), and is located in the State of Goiás, central Brazil, approximately six kilometers north of the town of Mara Rosa. ROYALTY OPERATOR Hochschild Mining plc MINERALIZATION STYLE Orogenic Au MINE TYPE Open-pit METAL(S) Gold PRODUCT Doré ROYALTY 1.0% NSR, 1.75% NSR (all metals) YEAR OF ACQUISITION 2010 and 2018 TERM OF ROYALTY Life of Mine MINE LIFE 2033 1 Operational Overview In April 2022, Hochschild acquired Amarillo and its flagship Mara Rosa project and immediately commenced project construction. Hochschild announced the Mara Rosa Project achieved first gold pour on February 20, 2024, and reached commercial production in the second quarter of 2024. 2025 OPERATOR GUIDANCE 94,000 to 104,000 ounces of gold. 2 LONGER-TERM OPERATOR OUTLOOK Mara Rosa is expected to generate average annual production of approximately 80,000 ounces of gold over its mine life (including approximately 100,000 ounces over the first four years). 3 Royal Gold’s Royalty Interest Royal Gold owns a 2.75% net smelter return (NSR) royalty on all metals produced from areas subject to our royalty interest at the Mara Rosa Project. Royal Gold acquired a 1.0% NSR royalty effective February 22, 2010, with the acquisition of International Royalty Corporation. Royal Gold purchased an additional 1.75% NSR royalty on June 29, 2018, from Amarillo Gold Corp. 1 Source: Hochschild, October 2024 Corporate Presentation (site visit to Mara Rosa) 2 Source: Hochschild, January 22, 2025, Press Release 3 Source: Hochschild, Corporate Website 4 Source: Hochschild, March 12, 2025, Press Release 97