DEVELOPMENTS AND POTENTIAL The Granite Creek underground mine is in operation and currently ramping up to full production. i-80 is targeting average annual production of 60,000 ounces over an eight- year mine life. A Feasibility Study is expected to be released in Q4 2025 that will include an updated operational plan and results from new drilling in the South Pacific Zone. The Granite Creek open-pit, adjacent to the underground mine, is at the study and permitting stage. i-80 completed a Preliminary Economic Assessment in March 2025, that defines a large open pit mine producing approximately 130,000 ounces per year over a 10-year mine life. i-80 is targeting completion of a Feasibility Study that includes an updated mineral resource estimate in Q4 2025. 1 FINANCIAL AND OPERATING RESULTS As of December 31, 2024 Revenue to Royal Gold Since Inception US$M $2.9 Historic Revenue to Royal Gold US$M 2023: 2024: $0.5 $1.1 Acquisition Cost US$M $4.1 Investment Recovered % 70% Net Book Value US$M $1.6 MINERAL RESOURCES AND RESERVES As of December 31, 2024 CONTAINED Gold (koz) AGEOs * (koz) Proven and Probable – – Measured and Indicated 1,696 56 Inferred 401 21 ROYAL GOLD 2024 Asset Handbook * 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. 72 For more information, please visit: www.i80gold.com