UNITED STATES ROYALTY Marigold Marigold is owned and operated by Marigold Mining Company, a wholly-owned subsidiary of SSR Mining Inc. Marigold is located in southern Humboldt County, Nevada, in the northern foothills of the Battle Mountain Range, approximately 60 kilometers east of the town of Winnemucca and five kilometers south-southwest of the town of Valmy. OPERATOR SSR Mining Inc. MINERALIZATION STYLE Carlin-Type Sediment- Hosted Au MINE TYPE Open-pit METAL(S) Gold PRODUCT Doré ROYALTY 2.0% NSR (all metals) YEAR OF ACQUISITION 2008 TERM OF ROYALTY Life of Mine MINE LIFE 2032 1 Operational Overview In production since 1989, Marigold is a large, run-of-mine (ROM) heap leach operation with several open-pits, waste rock stockpiles, leach pads, a carbon absorption facility, and a carbon processing and gold refining facility. Currently the mine utilizes a fleet of 290-tonne haul trucks and three loading units. The Marigold processing plant combines industry standard ROM heap leaching, carbon adsorption, carbon desorption and electro-winning circuits to produce a final precious metal (doré) product. 2025 OPERATOR GUIDANCE 160,000 to 190,000 ounces of gold. 2 LONGER-TERM OPERATOR OUTLOOK As per its five-year production outlook provided in February 2024, Marigold is expected to produce 220,000 to 240,000 ounces of gold in 2026; 240,000 to 270,000 ounces of gold in 2027; and 220,000 to 250,000 ounces of gold in 2028. 3 Royal Gold’s Royalty Interest Royal Gold holds a 2.0% net smelter return (NSR) royalty on all metals produced from areas subject to our royalty interest at the Marigold mine. On February 22, 2008, Royal Gold announced it completed the acquisition of the 2.0% NSR royalty on Marigold from AngloGold Ashanti (USA) Exploration. 1 Source: SSR Mining, February 13, 2024, Press Release: 9-year mine life, 15 years of total production including residual leaching 2 Source: SSR Mining, March 31, 2025, Press Release 3 Source: SSR Mining, February 13, 2024, Press Release 4 Source: SSR Mining, September 2023 Corporate Presentation Materials Reference Details Portfolio and Outlook Performance Expected Overview Portfolio Our Business Attributes of Introduction 79