Royal Gold — Feb 12, 2025 release

"These two acquisitions are consistent with our strategy of adding exposure to high-quality assets with growth potential, operated by experienced management teams, in safe and mining-friendly jurisdictions." 2024 Highlights: • Record revenue of $719.4 million , record operating cash flow of $529.5 million , and record earnings of $332.0 million , increases of 19% , 27% , and 39% , respectively, over the prior year • Revenue split: 76% gold , 12% silver , 9% copper • Sales volume of 301,500 GEOs 2 • Sustained high adjusted EBITDA margin 1 of 81% • Repaid $250 million of debt , reducing total debt to $0 • Paid dividend of $1.60 per share , and increased the 2025 dividend by 12.5% to $1.80 per share, the 24th consecutive annual increase • Acquired royalty interests on the Back River Gold District and Cactus Project • Recognized first revenue contributions from the new Mara Rosa , Côté Gold and Manh Choh mines • Entered into support agreement to incentivize investment that may provide a basis for mine life extension at Mount Milligan beyond 2035 Recent Portfolio Developments Principal Property Updates Notable recent updates as reported by the operators of our Principal Properties include: Increased Near Term Production Expected and Continued Progress on Long Term Projects at Cortez On November 22, 2024, Barrick Gold Corporation ("Barrick") provided an update on various projects currently underway, 1 Adjusted net income, adjusted net income per share and adjusted EBITDA margin are non-GAAP financial measures. See Schedule A of this press release for additional information, including a detailed description of adjustments to net income. 2 See Schedule A of this press release for additional information about gold equivalent ounces, or GEOs. 1 as well as a production outlook for the Cortez Complex in Nevada. With respect to the near term, Barrick is expecting overall gold productio