AUSTRALIA Southern Cross The Southern Cross operation comprises a number of underground and open-pit gold mines, owned by Barto Gold Mining Pty Ltd, a subsidiary of Shandong Tianye Group Bid Co Pty Ltd, and managed by Minjar Gold Pty Ltd., a subsidiary of Jinan High-tech Development Co. Ltd. The Southern Cross operation extends from Bullfinch (in the north) to Marvel Loch (in the south) in Western Australia, approximately 13 kilometers south of the town of Southern Cross and 360 kilometers east of Perth. ROYALTY OPERATOR Shandong Tianye Group MINERALIZATION STYLE Orogenic Au MINE TYPE Open-pit & Underground METAL(S) Gold PRODUCT Doré ROYALTY 1.5% NSR (all metals) YEAR OF ACQUISITION 2010 TERM OF ROYALTY Life of Mine MINE LIFE N/A Operational Overview Mined ore is transported on private haulage roads to a processing plant with capacity of one million tonnes per year. Camp facilities provide accommodation for employees at site, with a portion of employees also living in the nearby town of Southern Cross. The operation is connected to grid power and has good access to rail, highways and airports. 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 1.5% net smelter return (NSR) royalty on all metals from the Southern Cross operation. Royal Gold acquired this royalty as part of its acquisition of International Royalty Corporation, which was completed on February 22, 2010. Introduction Attributes of Our Business Portfolio Overview Expected Performance and Outlook Portfolio Details Reference Materials 115