Royal Gold, Inc. 2021 ESG Report 22 ESG Alignment in Executive Compensation In calendar year 2021, the CNG Committee began formally evaluating the management of ESG considerations relevant to Royal Gold as part of the annual short term incentive compensation (bonus) program for all company executives. The intent of this was to align executive management’s interests with the ESG interests of our shareholders and other stakeholders. In the figure below we set out the short term incentive compensation scorecard for our executive officers for our most recent fiscal period, a six month period ended December 31, 2021. Performance Measure Weight Threshold (0% payout) Target (100% payout) Maximum (200% payout) Net GEO production as compared to budget holding metal prices constant 22.5% 20% below budget At budget 20% over budget Cash operating costs as compared to budget 11.25% 10% above budget At budget 20% below budget ESG efforts to support the long-term sustainability of our business, including carbon footprint, ESG commitments with Operators, and maintenance of reporting and compliance structures 18.75% CNG Committee assessment Liquidity for business development opportunities, corporate obligations, and overall investment opportunities 15% CNG Committee assessment Health and safety guidelines to ensure the continued health of employees during the COVID-19 pandemic 7.5% CNG Committee assessment Individual performance against preestablished goals 25% CNG Committee or CEO assessment of individual performance Total 100%