DEVELOPMENTS AND POTENTIAL Barrick is currently evaluating the potential for further upside at the Twin Creeks Mega open pit (Mega Pit). Targeted drilling below the Mega Pit has validated the potential for a high-grade, feeder-type target at depth. Reserve conversion drilling is expected as early as 2025. At present, Royal Gold cannot confirm whether the upside at the Mega Pit will fall within Royal Gold’s royalty AOI. 3 FINANCIAL AND OPERATING RESULTS As of December 31, 2024 Revenue to Royal Gold Since Inception US$M $5.4 2023: 2024: Historic Revenue to Royal Gold US$M $0.0 $0.0 Acquisition Cost US$M $2.5 Investment Recovered % 215% Net Book Value US$M $0.0 MINERAL RESOURCES AND RESERVES As of December 31, 2022 CONTAINED Gold (koz) AGEOs * (koz) Proven and Probable 54 1 Measured and Indicated 16 – Inferred 1 – * 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. ROYAL GOLD 2024 Asset Handbook 88 For more information, please visit: www.barrick.com