Royal Gold, Inc. 2021 ESG Report 25 Supplier Code of Conduct We consider the mine Operators with whom we have royalty and stream interests, and other providers of goods and services to us, to constitute our supply chain. Our Supplier Code of Conduct, sets out the standards by which we expect our suppliers to act ethically and transparently, and to comply with laws, including environmental laws, and respect human rights in their own business operations and dealings with Royal Gold. Under the Supplier Code, we also encourage our suppliers to engage with local communities and adopt appropriate internal standards of sustainable mining and business conduct, including the World Gold Council’s Responsible Gold Mining Principles and the ICMM Mining Principles. Supplier Code of Conduct Employees and Talent Throughout the history of Royal Gold the ability to attract, develop, retain and challenge our employees has been critical to our success. For today’s employees offering basic wages, benefits and career opportunities are no longer sufficient as people now want to understand the core values of their employer and how they personally align with these employer values. In addition, in a business with the complexity of providing financing for mining projects worldwide, the ability to bring together a diverse set of backgrounds, skill sets, experiences and opinions is integral to our processes and success. Our Approach As of December 31, 2021, Royal Gold has a talented staff of 29 individuals with backgrounds in the key disciplines of mining operations and development, finance, and accounting and law. Given our flat organizational structure we typically hire individuals with extensive background in their area of expertise and seek to challenge them with the variety of projects and investments in which we are involved. We provide our employees with exposure to all aspects of the business which, in turn, offers a series of new development opportunities for all individuals. Royal Gold has benefited from a very low voluntary turnover rate, with many of the current staff still with the company for over ten years. We offer a comprehensive compensation package that includes competitive wages, health, dental, and various insurance coverages. We regularly benchmark all levels of wages and total compensation and ensure that the majority of all short-term incentive compensation is based on corporate-wide, shared benchmarks. While we seek to attract employees with attractive wages and benefits, it is the other personal development opportunities that inspire and motivate our team. These include the following: • Continuing education and skill expansion support: Whether it is a lawyer wishing to better understand basic finance skills or an executive seeking an executive MBA program, Royal Gold supports our employees in terms of both time available and the financial support necessary to complete these courses. • Secondments: Although Royal Gold has a limited number of employees, we are still able to offer secondment opportunities to key employees in our domestic and overseas offices. • Succession Planning: In a flat organization such as Royal Gold, having a well-developed plan for succession at all senior management levels is critical. This is accomplished by ensuring rising employees gain exposure in the boardroom, the field and the classroom, leading to a well-rounded understanding of the company’s key processes in an open and inviting environment that promotes knowledge sharing. Employees are also provided paid time off to contribute to charities of their choice and are welcome to recommend charities important to them for consideration for corporate support under our community-based, charitable giving program.