PROJECT OUTLOOK When in steady state, gold production from the Goose Project is expected to be approximately 310,000 ounces per year from 2027 to 2031 inclusive (and average 270,000 ounces per year over its nine-year LOM). 1 B2Gold budgeted $32 million for exploration at the Back River Gold District in 2025, which includes targeting extensions of the Llama and Umwelt deposits at the Goose Project, and regional exploration at targets including the George, Boulder and Boot Projects. 2 Refer to “Royal Gold's Royalty Interest” section for royalty rate details ROYAL GOLD 2024 Asset Handbook 126 For more information, please visit: www.b2gold.com