EXPECTED PERFORMANCE AND OUTLOOK Notable Portfolio Changes in 2024 Our portfolio can change organically as changes occur at the properties where we have interests. These may be a result of developments including exploration or expansion investments made by our operating counterparties, changes in ownership of properties, or the evolution of mine plans. This section summarizes notable changes at properties within the portfolio, and new properties added to the portfolio, since the previous version of our Asset Handbook was published in April, 2024. Property Developments Andacollo • Water availability increased with increased well field capacity, allowing mill throughput rates to return to levels consistent with the mine plan in H2 2024 Cortez • Goldrush – officially opened April 2024, with production ramping up through the year • Fourmile – PEA results indicate gold production of >500,000 oz/year based on approximately 1/3 of the ore body as defined by drilling to date • Robertson – Record of Decision for open pit project received November, 2024 • Hanson – exploration drilling below Cortez Hills Underground extended mineralization 500m west of 2021 discovery hole Mount Milligan • Increased Proven and Probable Reserve resulted in one-year mine life extension to 2036 Pueblo Viejo • Plant expansion construction completed and commercial production achieved in Q3 2024; throughput and recovery improvement projects identified as part of ramp-up • New tailings facility FS completed in Q3 2024, supporting mine life extension to 2046 Back River • Construction continued with first gold production scheduled for Q2 2025 Bald Mountain • Kinross announced plans to proceed with mining of the Redbird pit after receipt of Juniper permit; ~1M oz converted to Reserves at Redbird, extending mine life into 2028 Dolores • Mining and stacking from ore reserves was completed and the mine entered the residual leaching phase, with continued gold production for three years and silver production for eight years El Limon • Maiden gold resource at Talavera deposit of 630,000 oz Granite Creek • First mineralized material accessed at the South Pacific Zone in Q2 2024 Johnson Camp • Nuton LLC, a Rio Tinto venture, elected to proceed to Stage 2 of a two-stage program on the use of copper heap leach technologies for primary sulfide mineralization Khoemacau • Expansion FS started in December 2024 King of the Hills • Board approval granted for 20% expansion of plant capacity Lawyers • PEA completed for combined Lawyers-Ranch Project Rainy River • First development ore mined from Underground Main zone Ulysses • Stoping at the Ulysses underground commenced late in the December 2024 quarter Voisey’s Bay • Voisey’s Bay Mine Extension (“VBME”) project construction and commissioning completed Wassa • Independent Competent Person’s Report indicates potential mining of Southern Extension to 2049 Wharf • Measured and Indicated Resources increased by 521,000 oz and Inferred Resources increased by 321,000 oz, positioning Wharf for significant expected mine life extensions Wonder • Production stoping commenced in Q3 2024 Xavantina • 19% increase in Proven and Probable Reserves and 26% increase in Measured and Indicated Resources over 2023 ROYAL GOLD 2024 Asset Handbook 28