GUIDANCE 23 1 2 2022 Actual 2023 Guidance 2027 Outlook al Os729,960 640,000-700,000 760,000-820,000 1 1 otT GE+ Record GEOs in 2022 – Assumes lower oil and gas prices Assumes flat commodity prices + Diversified guidance exceeded + Vale royalty attributable production + Growth from Precious Metal assets + Benefit of strong energy prices + Vale royalty attributable production increase + Continued development of Energy assets + Copper World 1 2 al t 2022 Actual 2023 Guidance 2027 Outlook Me Os510,385 490,000-530,000 565,000-605,000 GE+ Candelaria, Tasiast, Subika (Ahafo) + Cobre Panama expansion2 + Cobre Panama expansion2 – Cobre Panama due to timing of shipments + Antapaccay, MWS, Tasiast, Musselwhite + New mines: Tocantinzinho, Greenstone ecious – Antapaccay + New mines: Magino, Séguéla, SalaresNorte (Hardrock), Valentine Gold, Stibnite, Eskay Pr – Less favourable GEO conversion ratios for – Antamina, Hemlo, Candelaria Creek silver and PGMs + Sudbury still producing Funding Commitments – Candelaria step-down – MWS cap met in 2024 Up to $250M for Tocantinzinho stream Up to $79M for Continental Royalty Acquisition Venture ($10-20M expected in FY 2023) Depletion Estimate $275-$305 million 1. Assuming the following prices: $1,800/oz Au, $21/oz Ag, $900/oz Pt, $1,500/oz Pd, $120/tonne Fe 62% CFR China, $80/bbl WTI oil and $3/mcf Henry Hub natural gas 2. First Quantum Minerals Ltd. and the Government of Panama agreed to a draft concession contract in March which is subject to a public consultation process and certain additional Panamanian approvals. During the month, concentrate loading and processing operations resumed to normal levels with all three trains operating