DEVELOPMENTS AND POTENTIAL Kinross reported that 4,760 meters of drilling were completed at Manh Choh in 2024 across six target areas identifying encouraging skarn alteration at three targets that will be further investigated in 2025. Surface sampling identifying new drill targets was completed along the mine road corridor and greater Tetlin lease in 2024. 4 FINANCIAL AND OPERATING RESULTS As of December 31, 2024 Revenue to Royal Gold Since Inception US$M $10.7 2023: 2024: Historic Revenue to Royal Gold US$M $0.0 $10.7 Acquisition Cost US$M $10.4 Investment Recovered % 102% Net Book Value US$M $9.3 MINERAL RESOURCES AND RESERVES As of December 31, 2024 CONTAINED Gold (koz) Silver (koz) AGEOs * (koz) Proven and Probable 797 1,449 29 Measured and Indicated 33 123 1 Inferred – – – * 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. For more information, please visit: www.kinross.com 78 ROYAL GOLD 2024 Asset Handbook