CANADA Schaft Creek The Schaft Creek Project is located in northwestern British Columbia, approximately 61 kilometers south of Telegraph Creek and 37 kilometers northeast of the Galore Creek property. The Schaft Creek Project is owned by a joint venture between Teck Resources Ltd. (“Teck”) (75%) and Copper Fox Metals Inc. (“Copper Fox”) (25%), where Teck is the operator. ROYALTY OPERATOR Teck Resources Ltd. MINERALIZATION STYLE Porphyry Cu-Au ROYALTY 3.5% NPI YEAR OF ACQUISITION 2010 TERM OF ROYALTY Life of Mine EXPECTED STARTUP DATE Detail not publicly disclosed by operator. EXPECTED MINE LIFE 21 years 1 Development Update In 2021, Copper Fox released the results of a Preliminary Economic Assessment (PEA) for the Schaft Creek Project. The PEA contemplates an open-pit operation with a nominal milling rate of 133,000 tonnes per day over the mine life. The primary objective of the 2025 program for Schaft Creek is to transition the project from the Scoping stage to the Preliminary Feasibility stage. 2 Royal Gold’s Royalty Interest Royal Gold holds a 3.5% net profits interest (NPI) royalty on all metals produced from areas subject to our royalty interest at Schaft Creek. Royal Gold acquired the Schaft Creek royalty, effective February 22, 2010, with the acquisition of International Royalty Corporation. MINERAL RESOURCES AND RESERVES As of December 31, 2024 CONTAINED Gold (koz) Silver (koz) Copper (Mlb) AGEOs * (koz) Proven and Probable – – – – Measured and Indicated 6,503 51,494 7,384 85 Inferred 1,425 11,200 1,327 17 * 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 2021 PEA, Schaft Creek is expected to produce an average of 238 million pounds of copper, 176,000 ounces of gold, 782,000 ounces of silver, and 10.8 million pounds of molybdenum per year in concentrate over its life of mine. 1 Acquisition Cost US$M $10.3 Net Book Value US$M $10.3 1 Source: Copper Fox, 2021 Preliminary Economic Assessment 2 Source: Copper Fox, January 30, 2025, Press Release ROYAL GOLD 2024 Asset Handbook 156 For more information, please visit: www.teck.com