DEVELOPMENTS AND POTENTIAL Calibre is actively exploring in the Limón area with the objective of extending mineral resources at the Tigra and Panteon Main deposits and developing new targets along known vein trends at Panteon, Portal, Talavera and Taguestepe. The 2024 maiden resource at Talavera of 630,000 inferred ounces of gold at 5.09 g/t has additional opportunities that will be advanced with expansion and delineation drilling as well as continuing work on environmental permits in 2025. Recent drilling at Talavera continues to intersect high grade gold mineralization approximately 750 metres to the west of the past-producing underground mine, and the resource remains open to the west. FINANCIAL AND OPERATING RESULTS As of December 31, 2024 Revenue to Royal Gold Since Inception US$M $48.6 2023: 2024: Historic Revenue to Royal Gold US$M $5.3 $7.2 Acquisition Cost US$M $6.7 Investment Recovered % 727% Net Book Value US$M $0.0 MINERAL RESOURCES AND RESERVES As of December 31, 2024 CONTAINED Gold (koz) Silver (koz) AGEOs * (koz) Proven and Probable 697 647 21 Measured and Indicated 507 149 15 Inferred 901 503 27 * 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 96 For more information, please visit: www.calibremining.com