DEVELOPMENTS AND POTENTIAL Cerrado has identified several upside opportunities beyond the PEA, including underground expansion in the Paloma region, the Goleta high grade under cover target, the Calandria North deposit, and the Paula Andrea target. 3 FINANCIAL AND OPERATING RESULTS As of December 31, 2024 Revenue to Royal Gold Since Inception US$M $7.1 2023: 2024: Historic Revenue to Royal Gold US$M $0.4 $2.6 Acquisition Cost US$M $0.0 Investment Recovered % N/M Net Book Value US$M $0.0 MINERAL RESOURCES AND RESERVES As of April 1, 2024 CONTAINED Gold (koz) Silver (koz) AGEOs * (koz) Proven and Probable – – – Measured and Indicated 49 204 1 Inferred 31 125 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 106 For more information, please visit: www.cerradogold.com