67 ROYAL GOLD, INC. | INVESTOR PRESENTATION | JANUARY 2025 Non-GAAP Measures Total cash cost per GEO: Reconciliation of non-GAAP financial measures to U.S. GAAP measures (cont.) (amounts in thousands, except gold price, GEO, and per GEO amounts) Total costs and expenses $ 302,515 Depreciation, depletion and amortization (164,937) Non-cash employee stock compensation (9,696) Total Cash Costs $ 127,882 Revenue $ 605,717 Average LBMA PM fixing price for gold for 2023 1,941 GEOs 312,100 Total costs and expenses per GEO $ 969 Total Cash Costs per GEO $ 410 The Year Ended December 31, 2023