CANADA Marban Marban is an open-pit development project owned and operated by Agnico Eagle Mines Limited (“Agnico”). Agnico acquired Marban through the acquisition of O3 Mining Inc. (“O3”) on March 18, 2025. The Marban property is located in the western portion of the province of Quebec, Canada, approximately 15 kilometers northwest of Val-d’Or, and immediately northeast of Agnico’s Canadian Malartic property. The property lies at the junction of Dubuisson, Fournière, Malartic and Vassan townships. ROYALTY OPERATOR Agnico Eagle Mines Limited MINERALIZATION STYLE Orogenic Au ROYALTY 0.5-0.75% (Marban Alliance claims), 1.0-1.5% (Horizon claims) Sliding-Scale NSR (gold only) YEAR OF ACQUISITION 2008 TERM OF ROYALTY Life of Mine EXPECTED STARTUP DATE Detail not publicly disclosed by operator. EXPECTED MINE LIFE 10 years 1 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 Pre-Feasibility Study in 2022. Prior to the acquisition by Agnico, O3 was developing Marban as a stand-alone operation, and expected to commence a Feasibility Study in early 2025. 2 PROJECT OUTLOOK As a stand-alone project, O3 expected Marban to average annual production of 161,000 ounces per year over its mine life. 1 Agnico now considers the Marban deposit as a potential satellite open pit to feed the Canadian Malartic mill in the medium-term as part of a “fill-the-mill” strategy. 4 Acquisition Cost US$M $0.0 3 Net Book Value US$M $0.0 Introduction Attributes of Our Business Portfolio Overview Expected Performance and Outlook Portfolio Details Reference Materials 129 1 Source: O3, September 2022 Pre-Feasibility Study 2 Source: O3, October 30, 2024, Press Release 3 Acquired as part of a portfolio of royalties. An acquisition cost of nil was assigned to the Marban royalty. 4 Source: Agnico, February 12, 2025, Press Release