17 ROYAL GOLD, INC. | INVESTOR PRESENTATION | APRIL 2025 9.3 12.0 15.4 4.9 7.6 3.4 Reserves at Stream Acquisition Production Subject to Stream Net Reserve Changes Reserves at Dec. 31, 2024 Potential Resource Conversion Potential Total Reserves + Resources Exposure to Resource Growth and Metal Price Optionality 1 - Reserves as of December 31, 2014 2 - Production from 2015 to 2024 3 - Reflects adjustment related to effective date of acquisition, metal recoveries, etc. 4 - Measured, Indicated and Inferred resources 5 - Attributable to Barrick’s 60% interest 6 - As of December 31, 2024, pre-tax PUEBLO VIEJO of Initial Investment Recovered 6 95% WASSA Millions of Gold Ounces 5 1.6 0.7 8.4 1.4 0.5 7.7 Reserves at Stream Acquisition Production Subject to Stream Net Reserve Changes Reserves at Mar. 31, 2024 Potential Resource Conversion Potential Total Reserves + Resources 2 of Initial Investment Recovered 5 170% 1 - Reserves as of December 31, 2014 2 - Production from 2015 to 2024 3 - Reflects adjustments related to effective date of acquisition, metal recoveries, etc. 4 - Measured, Indicated and Inferred resources (as of March 31, 2024) 5 - As of December 31, 2024, pre-tax, and includes initial investment and net revenue from Prestea/Bogoso Millions of Gold Ounces 1 3 4 Mine expansions and resource growth can significantly enhance returns with no cost to Royal Gold 1 2 3 4