DEVELOPMENTS AND POTENTIAL Chifeng is advancing work at Wassa with the objective of upgrading inferred resources for inclusion in a mine plan that will extend the life of Wassa beyond current reserves. A preliminary life of mine plan that includes inferred mineral resources and outlines two designs/studies for future expansion has been developed for the Wassa mine. The first design, with a Preliminary Economic Assessment for Wassa’s Southern Extension (published by Golden Star Resources in 2021) estimates an additional 17-year life of mine. The second design, estimates a 26-year mine life extending to 2049 with an annual mining capacity of approximately three million tonnes of ore. 1 FINANCIAL AND OPERATING RESULTS As of December 31, 2024 Revenue to Royal Gold Since Inception US$M $311.6 2023: 2024: Historic Revenue to Royal Gold US$M $32.8 $48.5 Metal Deliveries to Royal Gold Since Inception 148.1 koz Au Advance Payment US$M $145 2 Investment Recovered % 170% 3 Net Book Value US$M $29.2 MINERAL RESOURCES AND RESERVES As of September 30, 2024 CONTAINED Gold (koz) AGEOs * (koz) Proven and Probable 603 50 Measured and Indicated 1,047 40 Inferred 6,609 254 * 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 102 For more information, please visit: www.cfgold.com