CANADA Canadian Malartic Canadian Malartic is an open-pit and underground mine owned and operated by Agnico Eagle Mines Limited (“Agnico Eagle”). Canadian Malartic is the second largest operating gold mine in Canada and is located on the southern edge of the Town of Malartic in the Abitibi region of Quebec. The mine was developed by Osisko Mining Corporation (“Osisko”) and began commercial production in May 2011. In June 2014, Agnico Eagle and Yamana Gold Inc. (“Yamana”) each acquired a 50% stake in Osisko, and Agnico Eagle became the sole owner of the Canadian Malartic mine upon the acquisition of Yamana on March 31, 2023. ROYALTY OPERATOR Agnico Eagle Mines Limited MINERALIZATION STYLE Orogenic Au MINE TYPE Open-pit & Underground METAL(S) Gold PRODUCT Doré ROYALTY 1.0% to 1.5% Sliding-Scale NSR (gold only) YEAR OF ACQUISITION 2008 TERM OF ROYALTY Life of Mine MINE LIFE 2042 1 Operational Overview The Canadian Malartic mine is a large, open-pit operation mined using a conventional fleet of excavators and trucks. Upon depletion of the Canadian Malartic pit, preparation work will be undertaken for in-pit tailings disposal, and the focus of open-pit mining will move to the Barnat pit immediately to the east of the Malartic pit. First production from underground operations was achieved in March 2023. Mined ore is processed at the Canadian Malartic mineral processing complex, which has a 60,000 tonne per day nominal throughput capacity. After crushing and grinding, the ore is contained in a thickened slurry and processed using conventional cyanidation followed by carbon-in-pulp processing to produce doré bars containing gold and silver. 2025 OPERATOR GUIDANCE From 2025 to 2027, production is expected to be sourced from the Barnat pit and increasingly complemented by ore from Odyssey underground mine and low-grade stockpiles. 2 Royal Gold’s royalty interest does not cover the Barnat pit or the Odyssey underground mine. 1 Source: Agnico Eagle, 2024 Annual Information Form. The Canadian Malartic pit was depleted in the second quarter of 2023. Royal Gold expects processing of Canadian Malartic pit stockpiles to continue for at least the next decade. 2 Source: Agnico Eagle, February 13, 2025, Press Release Introduction Attributes of Our Business Portfolio Overview Expected Performance and Outlook Portfolio Details Reference Materials 51