The 21-year-old, who has made 38 appearances in all competitions this season, would then be allowed to leave in the summer of 2025.
Crunch talks will be held between the player’s camp and Everton at the end of the current campaign.
There is strong interest in the defender from Man United, with sources telling Football Insider that he is their top centre-back target this summer.
Everton plan for defensive ace revealed
Sources say that the Red Devils are confident that a bid of between £60-70million will be accepted by the Toffees.
Branthwaite spent last season on loan at Dutch club PSV, but has returned to Merseyside to become a key player under Sean Dyche.
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