Developments and Potential The technical studies for Mount Milligan are progressing better than planned, leading Centerra to the decision to move straight to a PFS for the mine (previously a Preliminary Economic Assessment). Results of the PFS are expected to be announced in Q3 2025. Centerra remains optimistic about Mount Milligan’s potential to operate for multiple decades into the future. Centerra is also continuing an exploration program aimed at expanding the mineral resource base significantly at Mount Milligan. For 2025, Centerra will continue to explore the western extension of the Mount Milligan deposit and perform infill drilling to upgrade inferred resources to indicated. A significant focus of the drill programs at Mount Milligan will be to upgrade the inferred resources between Goldmark and North Slope and to test the extension of the South Boundary mineralization. A total of 45 kilometers of drilling is planned for 2025 at Mount Milligan. The site-wide optimization program at Mount Milligan will continue in 2025. Notable achievements in 2024 include: an improved safety record, increased fleet availability and productivity, reduction in consumption and unit cost of grinding media; decrease in maintenance costs, and a reduction in copper concentrate grade, leading to steady gold recoveries despite lower head grades. As a result of the optimization program, Mount Milligan has reduced operating costs. 2 After including the effect of the Cost Support Agreement, the combined effect of the cash payments for gold and copper deliveries is as follows: Period: Jan. 1, 2024, through ~2029 ~2030 through ~2035 ~2036 and Beyond Au Cu Au Cu Au Cu Delivery Thresholds i defining triggers for cost support payments: (from Jan. 1, 2024) Pre-Threshold ii (if Au<=$1,600/oz and Cu<=$3.50/lb) First Threshold (after the earlier delivery of either 375,000 oz Au or 30,000 t Cu) Second Threshold (after the earlier delivery of either 665,000 oz Au or 60,000 t Cu) Combined Effective Payments iii : If Au<=$1,600/oz and Cu<= $3.50/lb: Lower of $850/oz, or 66% of spot Au 50% of spot Cu Lower of $850/oz, or 50% of spot Au iv 50% of spot Cu Lower of $1,050/oz, or 66% of spot Au iv 66% of spot Cu All other metal prices: $435/oz 15% of spot Cu Metal deliveries to Royal Gold typically occur up to five months after production at Mount Milligan due to the time required to ship concentrate from the mine site to the smelter and the payment provisions of the offtake contract. i Delivery Thresholds are defined by metal deliveries under the Existing Stream Agreement, which is independent from the Cost Support Agreement, and is used only as a reference for metal deliveries. ii Pre-Threshold Support payments prior to the First Threshold are at Centerra’s option and are recoverable from any cost support provided after the First Threshold is reached at metal prices above $1,600 per ounce of gold and $3.50 per pound of copper. iii Includes the total amount payable per ounce of gold or pound of copper when the effect of the Cost Support Agreement is considered with the Existing Stream Agreement. iv Given the relevant calculations, the cost support payments are only payable above a spot gold price of $870/oz after the First Threshold, and $660/oz after the Second Threshold. Introduction Attributes of Our Business Portfolio Overview Expected Performance and Outlook Portfolio Details Reference Materials 37