UNITED STATES Granite Creek The Granite Creek (formerly Pinson) mine, formerly operated as an open-pit gold mining facility, is currently owned by Osgood Mining Company, LLC., a subsidiary of i-80 Gold Corp (“i-80”). Granite Creek is located in the Potosi Mining District in southeastern Humboldt County, Nevada, approximately 44 kilometers northeast of Winnemucca. ROYALTY OPERATOR i-80 Gold Corp. MINERALIZATION STYLE Carlin-Type Sediment- Hosted Au MINE TYPE Open-pit & Underground METAL(S) Gold PRODUCT Doré ROYALTY Various (see map below for details) (all metals) YEAR OF ACQUISITION 2010 TERM OF ROYALTY Life of Mine MINE LIFE 2032 (Underground), 10 years (Open-pit) Operational Overview Granite Creek hosts both high grade open-pit and underground mineral resources and remains open at depth and along strike from the existing underground workings. The Granite Creek underground mine is currently producing, and the open pit project is undergoing a permitting and technical study. 2025 OPERATOR GUIDANCE 20,000 - 30,000 ounces of gold from the underground 1 . LONGER-TERM OPERATOR OUTLOOK i-80 expects annual gold production of approximately 60,000 ounces over an eight year mine life for the underground mine (with approximately 50,000 ounces in 2026 and 45,000 ounces in 2027), and approximately 130,000 ounces from the open pit after ramping up to full production starting in ~2030. 1 Royal Gold’s Royalty Interest Royal Gold holds various royalties pursuant to two separate agreements, as more particularly described on the corresponding area of interest map. Royal Gold acquired the Granite Creek royalties effective February 22, 2010, with the acquisition of International Royalty Corporation. 1 Source: i-80, March 6, 2025, Investor Day Presentation Materials Reference Details Portfolio and Outlook Performance Expected Overview Portfolio Our Business Attributes of Introduction 71