Royal Gold, Inc. 2021 ESG Report 1 Forward-looking Statement This report includes “forward-looking statements” within the meaning of U.S. federal securities laws. Forward-looking statements are any statements other than statements of historical fact. Forward-looking statements are not guarantees of future performance, and actual results may differ, possibly materially, from these statements due to various factors. Forward-looking statements herein include statements regarding the following: our approach to developing new business; our ability to attract, develop and maintain a talented workforce and to ensure internal policies and practices support our corporate culture; promoting long term shareholder interests; strengthening Board and management accountability and building public trust; building and managing a diversified and cash-flowing portfolio and assets that have future potential; our ability to acquire new stream or royalty interests; providing shareholders long term exposure to resource upside and metal price optionality; resource growth and mine life extension enhancing returns; identifying and managing ESG risks in new investments, acquisitions and existing stream and royalty interests; commitment to sustainability and seeking counterparties who lead in ESG; engagement with counterparties; maintaining standards of ethics and integrity; maintaining a geographically and operationally diverse portfolio; potential for organic revenue growth and optionality through exploration success and future production expansions; stability of revenue and reduced exposure to individual assets; limited exposure to geopolitical volatility; reduced exposure to by-product revenue fundamentals; competent evaluation of new opportunities and management of existing stream and royalty interests; scalable business allowing effective management with few employees; ability to influence counterparties through contractual arrangements and engagement; evolving content and focus of future ESG reports; the Company’s ability to manage ESG risk; ability to influence operators of stream and royalty properties, address societal needs, and provide a challenging work environment free from harassment and discrimination; assisting Operators to achieve sustainability goals; evolving ESG contractual commitments; seeking to go beyond PRI principles; reflecting ESG in management of every aspect of business; employing highly qualified employees; maintaining a Board of Directors with diverse and relevant backgrounds for proper oversight; requiring accountability at all levels and measuring performance; impacting operations through investment; incentivizing Operator behavior with improved economics; requiring covenants to track performance and regular dialogue with Operator management; endeavoring to disclose statistics related to royalty and stream interests; developing TCFD reporting and scenario analysis over time; playing a role in Operator efforts to address climate targets; CNG Committee continuing to monitor, guide and probe ESG; playing a role in operator transition to low-carbon economy, improving water efficiency and UN sustainable development goals; enhancing diversity within the Company; exceeding ESG standards; vision to be the gold standard in everything we do by operating in alignment with core values; ensuring a safe, respectful, inclusive work environment, supporting local communities and operators to enhance sustainability efforts, and caring for and deploying shareholder capital to create long-term value; striving to develop and nurture long term relationships with all stakeholders; exemplifying honesty, transparency and accountability; managing our business and reporting progress according to four pillars and providing a meaningful way for stakeholders to judge ESG performance; creating a culture of responsible investing through governance, engagement, maintaining a work environment free of harassment and discrimination, implementing appropriate policies and retaining skilled board members and management; aligning business strategy with sustainable development goals and incorporating ESG into investment and ownership, incorporating ESG principles into due diligence; incentivizing operator ESG behavior; being active owners and working responsibly and encouraging sustainable practices, incorporating ESG into contracts and reporting, supporting community programs and addressing societal issues, and supporting portfolio site programs; reviewing and reporting on activities and being transparent about impacts; commitment to leading corporate governance practices and remaining the Gold Standard through ethical standards, communication and accountability; CNG Committee members applying ESG expertise to exercise of oversight; identifying and managing ESG risk in investments, corporate strategy and oversight; Enterprise Risk Management Committee considering potential risks, determining appropriate mitigation and executing on mitigation strategies; annual review and modification of ESG strategy; ESG considerations in annual incentive compensation aligning management with stakeholders; striving to be a trusted steward of shareholder capital and a valued partner; policies reviewed and updated annually as necessary to align with corporate best practices; ensuring health and safety of our employees; demonstrating thorough approach to ESG in investment review; conduct, scope and goals of due diligence and new investment reviews and approvals; mitigating risks identified in due diligence; integrating ESG considerations into stream and royalty contracts; monitoring ESG and operating risks; reporting results of monitoring, including ensuring concerns are communicated to management and the Board of Directors; understanding the impacts of climate change and transition risks; conducting and reporting TCFD scenario analysis, including providing more detailed assessments, setting targets and determining actions to reduce or offset GHG emissions; commitment to carbon neutrality and reducing emissions and waste; measuring GHG and water intensity as key performance indicators; increasing ESG transparency and disclosure; highly efficient business model; and results of our community support program. Factors that could cause actual results to differ materially from these forward-looking statements include, among others, the following: a lower-price environment for gold or other metals; development activities relating to the mines; adverse economic and market conditions; changes in, or adoption of, new laws or regulations; and other factors described in our reports filed with the Securities and Exchange Commission, including our Form 10-K for the transition period ended December 31, 2021. Forward-looking statements speak only as of the date on which they are made. We disclaim any obligation to update any forward-looking statements, except as required by law. Readers are cautioned not to put undue reliance on forward-looking statements. Please see also “Forward-Looking Statements” on pages 83 to 84 of our Form 10-K for the transition period.