Royal Gold, Inc. 2021 ESG Report 48 With an assessment of the Scope 1 and 2 GHG emission intensity associated with our stream and royalty interests we have benchmarked this performance against the gold mining industry using a 2020 GHG emission database of gold mining operations compiled by Skarn Associates. The figure below shows that our stream and royalty interests are in the third quartile of GHG emission intensity per GEO for the 56.4 million GEOs represented in the database. For context the figure below also shows the GHG emission intensity for several of our Operator properties. Water Availability and Risk Mining and ore processing operations require significant amounts of water. Water sourcing and consumption can be a prominent concern to local communities and established water users, and unique water supply strategies are often used at mining operations to allow production while addressing local environmental and social concerns. In our due diligence of new opportunities we review the project water balance, the sustainability of water supply sources and the potential for water competition with other users in the region. We routinely benchmark the actual or estimated water consumption performance of a project against similar operations. Many of the opportunities we evaluate are in areas of water stress which requires an in-depth review of the Operator’s water management plans, including consideration of all stakeholders’ concerns. Water availability and risk require ongoing monitoring to understand if the risk exposure is changing from that which we identified in our initial due diligence. To do this we collect water consumption data to understand water use intensity and also consult external sources that assess water related risks. These data collection activities support our efforts to understand how climate change could impact our stream and royalty interests.