PROJECT OUTLOOK As per the 2022 PFS, open-pit operations at KSM are expected to produce an average of one million ounces of gold, 178 million pounds of copper, and three million ounces of silver, per year over a 33-year mine life. Additionally, as per the 2022 PEA, underground operations at the Kerr and Iron Cap deposits are expected to produce an average of 368,000 ounces of gold, 366 million pounds of copper, and 1.8 million ounces of silver, per year over a 39-year mine life. 1 MINERAL RESOURCES AND RESERVES As of August 8, 2022 CONTAINED Gold (koz) Silver (koz) Copper (Mlb) Molybdenum (Mlb) AGEOs * (koz) Proven and Probable 47,300 160,000 7,320 385 – Measured and Indicated 41,400 257,200 12,306 359 – Inferred 71,500 461,200 38,481 466 – * 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. Acquisition Cost US$M See footnote 2 Net Book Value US$M $0.0 ROYAL GOLD 2024 Asset Handbook 152 For more information, please visit: www.seabridgegold.com