Royal Gold, Inc. 2021 ESG Report 21 The Role of Our Management in ESG Direct management responsibility for ESG considerations is assigned to our President and CEO. The sustainability of our business depends to a significant measure on our ability to identify and manage ESG risks inherent in our investments. For this reason, consideration of ESG risks is central to the development of our corporate strategy and ongoing oversight. ESG and other enterprise risks are monitored by the members of the Enterprise Risk Management Committee, which is comprised of the members of our Executive Management Team. This committee receives input from other members of the Royal Gold team, including individuals with responsibility for new business generation, financial performance, legal compliance and technical assessment of our stream and royalty interests. The Enterprise Risk Management Committee meets regularly to consider present and potential risks to Royal Gold’s ongoing success, to determine appropriate mitigation for risks that might arise and to execute on mitigation strategies as appropriate. Our ESG strategy is reviewed at least annually by our President and CEO with senior management and is modified as necessary as part of our corporate strategic planning and enterprise risk management processes. Relevant updates are discussed between senior management and presented to the members of the CNG Committee. This enables an integrated approach to ESG as part of risk management, with input from Royal Gold management to the Board and its committees. Our process for considering ESG issues in corporate strategic planning and risk management is summarized in the figure below. Enterprise Risk Management Committee staffed by Executive Management Team Considers present and potential risks to Royal Gold’s ongoing success, including ESG and climate change considerations, and determines appropriate risk mitigation actions and strategies Risks and Opportunities Corporate Strategic Planning Executive Management Team and select members of Senior Management Comprehensive Strategic Plan, including ESG and climate change objectives, with annual short-term and long-term goals Board of Directors Reports quarterly and as otherwise appropriate Oversight and direction provided as required; ERM program reviewed annually Strategic Plan presented annually Provides direction and approvals/rejections as required