UNITED STATES Wharf Wharf is an open-pit heap leach operation, located in the northern Black Hills, Lawrence County, South Dakota, approximately 10 kilometers south and west of the city of Lead. The Wharf Operation consists of the American Eagle, Green Mountain, Golden Reward, and Portland Ridgeline pits. Wharf is owned and operated by Wharf Resources (U.S.A.), Inc., a wholly-owned subsidiary of Coeur Mining, Inc. OPERATOR Coeur Mining, Inc. MINERALIZATION STYLE Intrusive and Sediment- Hosted Disseminated Au MINE TYPE Open-pit METAL(S) Gold PRODUCT Doré ROYALTY 0.0% to 2.0% Sliding- Scale GSR (gold only) YEAR OF ACQUISITION 2008 TERM OF ROYALTY Life of Mine MINE LIFE 2037 (1) Operational Overview Wharf operates as a conventional truck-and-loader heap leach gold mine. The mine has been in continuous operation since 1983. Several historic pits that were partially backfilled are being re-mined. The backfilled material is considered rehandle and does not require blasting. Mined ore is either placed in a stockpile or directly into the primary crusher and then conveyed to a final product stockpile. Crushed ore placed in 20-foot lifts on one of five heap leach pads. After leaching, ore is neutralized and de-nitrified. 2026 OPERATOR GUIDANCE 72,000 to 90,000 ounces of gold. (2) LONGER-TERM OPERATOR OUTLOOK The Wharf mine is expected to produce an average of approximately 83,000 ounces of gold per year over its mine life. (1) Royal Gold’s Royalty Interest Royal Gold holds a 0.0% to 2.0% sliding-scale GSR royalty on gold production from areas subject to our royalty interest at Wharf. The royalty is based on a sliding scale, which caps at 2.0% at gold prices above $500 per ounce. Royal Gold acquired this royalty interest effective October 1, 2008, as part of the acquisition of a royalty portfolio from Barrick Mining Corporation. (1) Source: Coeur Mining, December 31, 2025, Technical Report. (2) Source: Coeur Mining, February 18, 2026, Press Release. Royal Gold | 2025/2026 Asset Handbook 87 ROYALTY INTRODUCTION ATTRIBUTES OF OUR BUSINESS PORTFOLIO OVERVIEW EXPECTED PERFORMANCE AND OUTLOOK PORTFOLIO DETAILS REFERENCE MATERIALS