CHILE NuevaUnión NuevaUnión is a 50/50 joint venture between Teck Resources Ltd. and Newmont Corporation, located in Region III of Chile, and consists of their respective Relincho and La Fortuna projects (located approximately 40 kilometers apart). Royal Gold’s royalty interest only covers a portion of the La Fortuna area, which has two known separate zones of porphyry-style, copper-gold mineralization. These include La Fortuna and El Negro. ROYALTY OPERATOR Teck Resources Ltd. MINERALIZATION STYLE Porphyry Cu-Au ROYALTY 1.4% NSR (all metals) YEAR OF ACQUISITION 2013 TERM OF ROYALTY Life of Mine EXPECTED STARTUP DATE Detail not publicly disclosed by operator. EXPECTED MINE LIFE 38 years 1 Development Update NuevaUnión is one of the largest undeveloped copper-gold projects in the Americas. A Pre-Feasibility Study (PFS) on the NuevaUnión project was completed in early 2018. The Relincho and La Fortuna deposits are envisioned to be conventional open- pit mining operations. Work going forward is focused on establishing a cost-effective path forward for the development of this world-class resource in a manner acceptable to communities of interest, key stakeholders and the regulator. 1 Royal Gold’s Royalty Interest Royal Gold holds a 1.4% net smelter return (NSR) royalty on all metals produced from La Fortuna. On August 7, 2013, Royal Gold acquired a 70% interest in a 2.0% NSR royalty on certain portions of La Fortuna from Xstrata Copper Chile S.A. Royal Gold estimates that the royalty covers approximately 30% of this deposit. MINERAL RESOURCES AND RESERVES As of December 31, 2024 CONTAINED Gold (koz) Silver (koz) Copper (Mlb) AGEOs * (koz) Proven and Probable 3,078 17,840 2,304 97 Measured and Indicated 1,391 8,649 825 39 Inferred 1,851 15,423 1,364 58 * 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 As per the PFS, NuevaUnión is estimated to average annual production of 224,000 tonnes of copper, 269,000 ounces of gold, and 1,700 tonnes of molybdenum in concentrate per year over the first 5 years of operation. 2 Acquisition Cost US$M $35.1 Net Book Value US$M $35.1 1 Source: Newmont Corporation, Corporate Website 2 Source: Teck Resources Ltd., April 24, 2018, Press Release ROYAL GOLD 2024 Asset Handbook 140 For more information, please visit: www.teck.com