Royal Gold, Inc. · NASDAQ:RGLD

Royal Gold — Q3 2015 Earnings Presentation

17 slides from Royal Gold's earnings presentation, Apr 30, 2015

  1. Slide 1: Third Quarter 2015 Results

    Third Quarter 2015 Results April 30, 2015 SOLID PORTFOLIO. SOLID FUTURE.

  2. Slide 2: Cautionary Statement

    Cautionary Statement This presentation contains certain forward‐looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that could cause actual results to differ m

  3. Slide 3: Today's Speakers

    Today’s Speakers Tony Jensen Bill Heissenbuttel Stefan Wenger President and CEO VP Corporate CFO and Treasurer Development & Operations April 30, 2015 3

  4. Slide 4: Third Fiscal Quarter 2015 Highlights

    Third Fiscal Quarter 2015 Highlights Financial Results compared to prior year quarter: Revenue of $74.1 million, up 28%  Streaming revenue of $29.7 million  Royalty revenue of $44.4 million Adjusted EBITDA1 of $57.7 million, up 16% $14.3 million in dividends paid, up 5% Record volume of 60,832 (gr

  5. Slide 5: Growth: Mount Milligan

    Growth Mount Milligan Qtrly Run Rate at Design Capacity Mar 2015 Quarter Dec 2014 Quarter Sept 2014 Quarter June 2014 Quarter Mar 2014 Quarter Dec 2013 Quarter 0 10 20 30 Thousands of Mount Milligan ounces sold by Royal Gold Royal Gold sold 24,200 ounces in the March quarter Hereafter, all deliverie

  6. Slide 6: Growth: Upside potential at Peñasquito

    Growth Upside potential at Peñasquito1 Peñasquito 2015 production volume expected to increase 20-30% Metallurgical Enhancement Process (MEP) feasibility study at Peñasquito could extend mine life by 5 years Community engagement and consultation underway at El Morro RGLD 1.4% NSR Gold/Copper on ~30%

  7. Slide 7: Growth: Phoenix

    Growth Phoenix As of mid-April 20151:  Royal Gold commitment fully funded  Mill commissioning process has commenced  Over 11,000 tonnes of mill feed already stockpiled  Remains on schedule for projected initial production in mid-2015 April 30, 2015 7

  8. Slide 8: Gold Equivalent Ounce Waterfall

    Gold Equivalent Ounce Waterfall Net GEO's Q314 vs Q315 Net GEO’s Q215 vs Q315 55,000 55,000 50,000 50,000 45,000 Gold Equivalent Ounces (GEO’s) Gold Equivalent Ounces (GEO’s) 45,000 40,000 40,000 35,000 35,000 30,000 30,000 25,000 20,000 25,000 Includes Mount Milligan GEO’s net of our stream payment

  9. Slide 9: 2015 Operator Estimates

    2015 Operator Estimates 1, 2 Calendar 2015 Operator’s Production Estimate Calendar 2015 Operator's Production 3 Actual Through March 31, 2015 Royalty/Stream Gold Silver Base Metals Gold Silver Base Metals (oz.) (oz.) (lbs.) (oz.) (oz.) (lbs.) 4 Andacollo 52,200 - - 10,300 - - Cortez GSR1 104,100 - -

  10. Slide 10: Financial Overview

    Financial Overview Financial Results compared to prior year quarter: Revenue of $74.1 million, up 28% DD&A rate of $408 per gold equivalent ounce, down 16% EPS of $0.38 per share, up 23% How tax impacted the third quarter results: US Dollar appreciated vs Canadian Dollar and resulted in $8 million n

  11. Slide 11: Opportunity

    Opportunity Over $1.4 billion available at a time when royalty/stream financing is needed Capital to invest… Net of future commitments ($m) $1,410.0 Working capital & undrawn credit at 4-30-15 Liquidity at 4-30-15 $760M Working Capital $650M Revolver -$6.0 Goldrush Current -$5.0 Peak Gold Joint Vent

  12. Slide 12: What Makes Royal Gold Unique

    What Makes Royal Gold Unique Growth Quality Opportunity April 30, 2015 12

  13. Slide 13: Endnotes

    Endnotes SOLID PORTFOLIO. SOLID FUTURE.

  14. Slide 14: Endnotes

    Endnotes Many of the matters in these endnotes and the accompanying slides constitute forward-looking statements and are subject to numerous risks, which could cause actual results to differ. See complete Cautionary Statement on page 2. PAGE 4 THIRD FISCAL QUARTER 2015 HIGHLIGHTS 1. The Company defi

  15. Slide 15: Endnotes

    Endnotes PAGE 9 OPERATOR ESTIMATES 1. There can be no assurance that production estimates received from our operators will be achieved. Please refer to our cautionary language regarding forward-looking statements on page 2, as well as the Risk Factors identified in Part I, Item 1A, of our Fiscal 201

  16. Slide 16: Property Portfolio

    Property Portfolio April 30, 2015

  17. Slide 17: Solid Portfolio. Solid Future.

    1660 Wynkoop Street Denver, CO 80202-1132 303.573.1660 info@royalgold.com www.royalgold.com SOLID PORTFOLIO. SOLID FUTURE.

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