UNITED STATES Gold Hill Gold Hill is an open-pit mine, owned and operated by Kinross Gold Corporation (“Kinross”). The Gold Hill deposit is located five kilometers north of the Round Mountain pit and is part of the overall Round Mountain operation located in northern Nye County, Nevada. ROYALTY OPERATOR Kinross Gold Corporation MINERALIZATION STYLE Carlin-Type Sediment- Hosted Au MINE TYPE Open-pit METAL(S) Gold, Silver PRODUCT Doré ROYALTY 0.6% to 0.9% NSR (M-ACE claims) (all metals) YEAR OF ACQUISITION 2010 TERM OF ROYALTY Life of Mine MINE LIFE N/A Operational Overview Gold Hill is operated independently of the Round Mountain pit. Conventional open-pit mining methods are used, and the ore consists of oxide material that is placed directly on a dedicated heap leach pad adjacent to the pit. 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 0.6% to 0.9% sliding-scale NSR royalty on all metals produced from the M-ACE claims. The royalty is based on a sliding scale, which caps at 0.9% at gold prices above $400 per ounce. Royal Gold acquired the 0.6% to 0.9% sliding-scale NSR royalty over the M-ACE claims effective February 22, 2010, with the acquisition of International Royalty Corporation. 1 Source: Kinross investor presentation, February 24, 2025 Introduction Attributes of Our Business Portfolio Overview Expected Performance and Outlook Portfolio Details Reference Materials 67