UNITED STATES Ruby Hill Ruby Hill is an open-pit and underground operation, located in Eureka County, Nevada, approximately two kilometers northwest of the town of Eureka, along the southeastern end of the Battle Mountain-Eureka gold trend. Ruby Hill is owned and operated by Ruby Hill Mining Company, a subsidiary of i-80 Gold Corp. (“i-80”). OPERATOR i-80 Gold Corp. MINERALIZATION STYLE Carlin-Type Sediment- Hosted Au/CRD MINE TYPE Open-pit & Underground METAL(S) Gold, Silver PRODUCT Doré ROYALTY 3.0% NSR (all metals) YEAR OF ACQUISITION 2012 TERM OF ROYALTY Life of Mine MINE LIFE 10 years (Underground), 16.5 years (Open-pit) (1),(2) Operational Overview Ruby Hill includes the high-grade Archimedes underground project, the Mineral Point open-pit heap leach project, as well as several base metal deposits. Processing infrastructure at Ruby Hill includes a primary crushing plant, grinding mill, leach pad, and CIC circuit. Mining activity at the Archimedes pit is complete, and Royal Gold is currently receiving revenue from residual heap leach recovery operations. 2026 OPERATOR GUIDANCE 10,000 ounces of gold from Archimedes underground and residual heap leach. (3) LONGER-TERM OPERATOR OUTLOOK i-80 expects annual gold production of approximately 100,000 ounces over a ten year mine life for the underground mine, following ramp-up, and approximately 280,000 GEOs from the open-pit after ramping up to full production. (1),(2) (1) Source: i-80 Gold, February 18, 2025, Press Release. (2) Source: i-80 Gold, February 21, 2025, Press Release. (3) Source: i-80 Gold, February 19, 2026, Press Release. (4) Source: i-80 Gold, November 12, 2025, Press Release. Royal Gold’s Royalty Interest Royal Gold holds a 3.0% NSR royalty on all metals produced from Ruby Hill. Royal Gold acquired its royalty interest on Ruby Hill on May 23, 2012, from International Minerals Corporation. Royal Gold | 2025/2026 Asset Handbook 83 ROYALTY INTRODUCTION ATTRIBUTES OF OUR BUSINESS PORTFOLIO OVERVIEW EXPECTED PERFORMANCE AND OUTLOOK PORTFOLIO DETAILS REFERENCE MATERIALS