UNITED STATES Skyline Skyline is an underground coal mining operation owned and operated by Canyon Fuel Company, LLC, a subsidiary of Wolverine Fuels, LLC (“Wolverine”). Skyline is located in Carbon County, Utah, approximately 8 kilometers southwest of Scofield, and approximately 50 kilometers northwest of Price. The Skyline mine lies at a high elevation in the northern end of the Wasatch Plateau coalfield. ROYALTY OPERATOR Wolverine Fuels, LLC MINERALIZATION STYLE N/A MINE TYPE Underground COMMODITY Coal PRODUCT High-BTU, Low-Sulfur, Compliance Thermal Coal ROYALTY 1.41% GV royalty (coal) YEAR OF ACQUISITION 2010 TERM OF ROYALTY Life of Mine MINE LIFE N/A Operational Overview Skyline has longwall and continuous mineral reserves where it produces high-BTU (British Thermal Unit), low-sulfur, compliance thermal coal. Skyline began production in 1981. 2025 OPERATOR GUIDANCE Detail not publicly disclosed by operator. LONGER-TERM OPERATOR OUTLOOK Detail not publicly disclosed by operator. Royal Gold’s Royalty Interest Royal Gold holds a 1.41% gross value (GV) royalty – which is defined as the percentage of the gross value, revenue or proceeds from a resource extraction operation without deductions of any kind – on Skyline. Royal Gold acquired its interest on February 22, 2010, with the acquisition of International Royalty Corporation, which included the Skyline royalty. Introduction Attributes of Our Business Portfolio Overview Expected Performance and Outlook Portfolio Details Reference Materials 85