2. Cortez resources and reserves are reported under CIM and SK-1300 standards, and included in Newmont SK-1300 disclosure (with the exception of Fourmile, which is reported only under CIM standards) and have an effective date of 12/31/2023. Resource quantities are back-calculated from Barrick’s 61.5% to Royal Gold’s 100% for NGM areas. Values may differ due to rounding and significant digits effects. Gold price used for reserves is $1,300. Cut-off grades and process recoveries vary by project area. For more details regarding our royalty interests at Cortez, please see our website. 3. Mount Milligan resources and reserves are reported under CIM standards and have an effective date of 12/31/2024. Metal prices used for reserves determination are $1,800 Au and $3.75 Cu and the cut-off grade is $8.72 NSR. Metal prices used for resources determination are $2,000 Au and $4.00 Cu and the NSR cut-off is $8.72. Specific process recoveries are not disclosed by the operator. Royal Gold also holds a life of mine free cash flow interest (“FCF Interest”), payable annually, of 5% of the cumulative free cash flow generated from Mount Milligan after the earlier of (i) the first fiscal year following delivery of both 375,000 ounces of gold and 30,000 tonnes of copper from January 1, 2024, and (ii) January 1, 2036. The FCF Interest will increase to 10% after the earlier of (i) the first fiscal year following the delivery of both 665,000 ounces of gold and 60,000 tonnes of copper from January 1, 2024, and (ii) January 1, 2036. 4. Pueblo Viejo resources and reserves are reported under CIM and SK-1300 standards and have an effective date of 12/31/2024. Royal Gold’s stream interest is 60%, corresponding to Barrick’s 60% share of the project. Metal prices used for reserves are $1,400 Au and $20.00 Ag. Metal prices used for resources are $1,900 Au and $24.00 Ag. Specific cut-off grades are not disclosed. Our stream interest at Pueblo Viejo is 7.5% of payable gold until 990,000 ounces are delivered, 3.75% thereafter, and 75% of payable silver until 50 million ounces are delivered, 37.5% thereafter. 5. Bellevue resources and reserves are reported under JORC standards and have an effective date of 3/1/2024. Gold price for reserves is AUS$2,250 and the cut- off grade is 3.5 g/t Au. Gold price for resources is AUS$2,250 and cut-off grade is 2.5 g/t Au. The royalty rate varies depending on the tenement. It is 2.0% NSR royalty on all metals produced from the mining leases M36/25 and M36/299 and the exploration license E36/535, and a 2.0% NSR on gold and 1.5% NSR on all other metals produced from the mining lease M36/24. 6. Canadian Malartic resources and reserves are reported under CIM standards and have an effective date of 12/31/2024. Reserves and resources use a $1,300 Au price and a cut-off grade of 0.41 g/t Au. The royalty is based on a sliding scale, which caps at 1.5% at a gold price equal to or above $350 per ounce. 7. Côté Gold resources and reserves are reported to CIM standards with an effective date of 12/31/2024. 70% of reported reserves and resources are expected to fall within the Royal Gold royalty ground. Reserves and resources use gold prices of $1,400 and $1,700, respectively. Specific cut-off grades are not disclosed by the operator. 8. Dolores resources and reserves are reported under CIM standards and have an effective date of 6/30/2024. Metal prices used for reserves are $1,850 Au and $21.00 Ag. Prices for resources are $1,950 Au and $23.00 Ag. Cut-off grades and specific Au and Ag recoveries vary by material type and process. 9. Don Nicolas is a producing property, but no reserves are disclosed. Resources are disclosed under CIM standards as of 4/1/2024. A gold price of $1,550 is used for resource reporting, with cut-offs of 0.3 g/t Au for open-pit and 1.95 g/t Au for underground. 10. El Limón resources and reserves are reported under CIM standards and have an effective date of 12/31/2023. Metal prices used for reserves were $1,500 Au and $23.00 Ag and cut-off grades range from 1.15 to 1.2 g/t Au in the open-pit and 2.3 to 3.36 g/t Au in the underground. For resources, gold prices of $1,600-1,700 and silver prices of $20.00-24.00 are used, with cut-off grades of 1.00 to 1.23 g/t Au in open-pits and 2.25 g/t in underground. 11. Goldstrike resources and reserves are reported under CIM standards and have an effective date of 12/31/2023. $1,700 Au price is used for resources and $1,300 for reserves with a cut-off grade of 0.027 to 0.034 oz/t. 12. Granite Creek resources are reported to CIM standards with an effective date of 12/31/2024. There are no reserves reported for Granite Creek. The property is considered a production property because processing of material from underground development produced gold ounces during the year. Gold price used for resources is $2,040 for open-pit and $2,175 for underground. Cut-off grades are 0.3 g/t open-pit and range from 5.4 to 7.58 g/t for underground. For more details regarding our royalty interests at Granite Creek, please see our website. 13. Gwalia resources and reserves are reported under JORC standards and have an effective date of 12/31/2024. Gwalia, Tower Hill, and Harbour Lights areas are attributable to our royalty interest. AUS$2,800 Au price is used for reserves with a cut-off grade of 0.5 g/t for open pit and 3.5 g/t for underground. AUS$2,800 is used for resources with a cut-off grade of 0.5 g/t for open pit and 2.5 g/t for underground. 14. King of the Hills resources and reserves are reported under JORC standards and have an effective date of 6/30/2024. AUS$2,000 Au price is used for reserves, with cut-off grades of 0.4 g/t Au for open-pit and 1.3 g/t for underground. Resources use an AUS$3,500 pit shell with 0.4 g/t Au for open-pit resource and 1.0 g/t for underground. 15. LaRonde Zone 5 resources and reserves are reported under CIM standards and have an effective date of 12/31/2023. Reserves and resources are reported using gold prices of $1,400 and $1,650, respectively. Cut-off grades vary by material type and depth but are not less than 1.56 g/t Au. 16. Leeville resources and reserves are reported under CIM standards and included in Newmont SK-1300 disclosure and have an effective date of 12/31/2024. Tonnages and grades for resources and reserves subject to our interest are provided directly by the operator. Gold prices used for reserves and resources are $1,400 and $1,700, respectively. Cut-off grades range from 0.145 to 0.197 oz/t. 17. Manh Choh resources and reserves are reported to CIM standards with an effective date of 12/31/2024. Reserves are reported using metal prices of $1,600 Au and $20 Ag. Resources are reported using metal prices of $2,000 Au and $25 Ag. Specific cut-off grades and recoveries are not reported. Kinross discloses their 70% of resources and reserves, which are factored to our 100% coverage. 18. Mara Rosa resources and reserves are reported to JORC standards with an effective date of 12/31/2024. Gold price of $1,750 was used for reserves and $2,100 for resources. Specific recoveries and cut-off grades are not disclosed by the operator. 19. Marigold resources and reserves are reported under SK-1300 standards and have an effective date as of 12/31/2022. Gold prices used for reserves are $1,350, with a cut-off of 0.069 g/t payable Au. Gold prices used for resources are $1,750, with a cut-off of 0.069 g/t payable Au. 20. Meekatharra reserves are reported under JORC standards and have an effective date of 12/3/2024. Mineral resources are reported with an effective date of 11/18/2024. Metal prices used are AUS$2,400 for resources and reserves and cut-off grades vary by material and depth. Different areas of Meekatharra are subject to different royalty rates. The 1.5% to 2.5% NSR royalty pays at a rate of 1.5% for the first 75,000 ounces produced in any 12-month period and at a rate of 2.5% on production above 75,000 ounces during that 12-month period. ROYAL GOLD 2024 Asset Handbook 176