Royal Gold, Inc. 2021 ESG Report 17 Our Four ESG Pillars We believe there are four key pillars that provide an ESG framework that fits Royal Gold’s business model. Managing our business and reporting our progress according to these pillars will provide a meaningful way for our stakeholders to judge Royal Gold’s performance with respect to ESG commitments. Our four ESG Pillars, as discussed above in the Q&A with the CEO, are articulated in the figure below. Governance and Culture Investment Strategy Stewardship Transparency We will create a culture of responsible investing and partnership through effective governance and stakeholder engagement • Through the maintenance of a work environment free from harassment and discrimination • Through the implementation of appropriate policies regarding anti- corruption, bribery, whistleblowing and compliance with laws • Through the retention of both a highly skilled and diverse Board of Directors and management team We will align our business strategy with sustainable goals and incorporate ESG issues, including climate change, into investment analyses, decision- making processes and ownership practices • Through the incorporation of the World Gold Council’s Responsible Gold Mining Principles and the ICMM Mining Principles into due diligence investment principles • Through agreement provisions that incentivize an Operator to achieve sustainability goals We will be active owners and members of our community. We will work responsibly to encourage sustainable practices and appropriate ESG disclosures • Through the incorporation of representations and warranties, covenants and defaults related to ESG issues, including ESG reporting • Through support for community programs that address local societal issues • Through support for programs around our portfolio sites that further the achievement of sustainable development goals We will periodically review and report on our activities and will be transparent about our positive and negative impacts • Through our annual ESG progress report, annual report and proxy statement • Through disclosure on the environmental, GHG emissions, water efficiency, and other measures of our stream portfolio