DEVELOPMENTS AND POTENTIAL For 2025, Marigold’s production is expected to be 55 to 60% weighted to the second half of 2025, as higher grades stacked at the end of the first half drive increased production in the second half. Marigold is expected to stack 18 to 20 million ore tonnes at an average grade of 0.35 to 0.40 grams per tonne. 2 SSR mining continues to advance development and technical work with the goal to enable mine life extensions at Marigold, including potential expansion to Mackay and other deposits. 2 SSR Mining is also evaluating the longer-term pathways to production at the Trenton Canyon target where Royal Gold holds a 2.4% GSR royalty. 4 FINANCIAL AND OPERATING RESULTS As of December 31, 2024 Revenue to Royal Gold Since Inception US$M $69.7 2023: 2024: Historic Revenue to Royal Gold US$M $5.1 $8.1 Acquisition Cost US$M $5.3 Investment Recovered % 1315% Net Book Value US$M $1.0 MINERAL RESOURCES AND RESERVES As of December 31, 2022 CONTAINED Gold (koz) AGEOs * (koz) Proven and Probable 1,784 36 Measured and Indicated 1,534 23 Inferred 152 3 * AGEOs do not consider adjustments that may impact the economic viability of the AGEO interest. See page 11 for a description of AGEO calculation methodology. 80 ROYAL GOLD 2024 Asset Handbook For more information, please visit: www.ssrmining.com