57 ROYAL GOLD, INC. | INVESTOR PRESENTATION | JANUARY 2025 Great Bear Project: High-Grade Resource Additions at Depth 2.7 M oz Indicated 3.9 M oz Inferred Mid-year 2024 resource: • Mid-year 2024 resource update added ~0.5 million ounces to the total inferred resource • Kinross advancing steps to drill from underground to target high-grade mineralization at depth Source: Kinross