26 ROYAL GOLD, INC. | INVESTOR PRESENTATION | JANUARY 2025 Revenue Growth Expected from Producing and Development Assets 2024 WASSA – Southern Extension to potentially add multi-decades beyond the reserve life PUEBLO VIEJO – tailings expansion to maintain production to mid-2040’s KING OF THE HILLS – ramping up to full production BELLEVUE – expect production of 250,000 oz/year by FY 2028 MANH CHOH – first gold pour achieved in July 2024 BACK RIVER – construction underway with first gold planned for Q2/2025 2025 2026+ In production New production in 2024 Longer-dated production MARA ROSA – commercial production achieved Q2 2024 RED CHRIS – transition to block cave continuing XAVANTINA – NX60 project to increase production from 2024 onwards CÔTÉ GOLD – expect 90% of nameplate capacity by end of 2024 Expansions and extensions add to portfolio revenue and duration GOLDRUSH (Cortez) – expect >400,000 oz/year by 2028 GREAT BEAR – engineering / baseline studies underway; first production expected 2029 MOUNT MILLIGAN – mine life extended 2 years to 2035, PEA to evaluate potential to extend beyond 2035 expected in H1/2025