DEVELOPMENTS AND POTENTIAL The NX 60 initiative, aimed at achieving sustained annual gold production levels of approximately 60,000 ounces, was completed in 2023 through the development of the Matinha Vein to supplement existing production from the Santo Antônio Vein. Ero’s dual strategy at Xavantina remains focused on extending mine life and discovering new vein structures to expand mine and mill feed, to fully utilize the mill’s installed capacity of up to 300,000 tonnes per annum. 3 In the near term, which Ero defines as being within three years, Ero is targeting a mine life extension to 10 years at Xavantina. 4 FINANCIAL AND OPERATING RESULTS As of December 31, 2024 Revenue to Royal Gold Since Inception US$M $90.3 2023: 2024: Historic Revenue to Royal Gold US$M $25.4 $38.8 Metal Deliveries to Royal Gold Since Inception US$M 45.2 koz Au Advance Payment US$M $100.0 Investment Recovered % 70% Net Book Value US$M $73.2 MINERAL RESOURCES AND RESERVES As of June 30, 2024 CONTAINED Gold (koz) AGEOs * (koz) Proven and Probable 459 70 Measured and Indicated 139 – Inferred 216 – * 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 100 For more information, please visit: www.erocopper.com