17 ROYAL GOLD, INC. | INVESTOR PRESENTATION | JANUARY 2025 9.3 12.0 12.2 4.6 7.3 0.2 Reserves at Stream Acquisition Production Subject to Stream Net Reserve Changes Reserves at Dec. 31, 2023 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 2023 3 - Reflects adjustment related to effective date of acquisition, metal recoveries, etc. 4 - Inferred resources 5 - Attributable to Barrick’s 60% interest 6 - As of December 31, 2023, pre-tax PUEBLO VIEJO of Initial Investment Recovered 6 85% WASSA Millions of Gold Ounces 5 1.6 1.1 4.7 1.2 0.7 3.6 Reserves at Stream Acquisition Production Subject to Stream Net Reserve Changes Reserves at Dec. 31, 2020 Potential Resource Conversion Potential Total Reserves + Resources 2 of Initial Investment Recovered 5 143% 1 - Reserves as of December 31, 2014 2 - Production from 2015 to 2023 3 - Reflects adjustments related to effective date of acquisition, metal recoveries, etc. 4 - PEA production plan (effective December 31, 2020) 5 - As of December 31, 2023, 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