20 Royal Gold, Inc. 2022 Environmental, Social and Governance Report About Royal Gold Governance ESG Stewardship Our People Our Operators and Communities Appendices Stakeholder and investor engagement By engaging regularly and openly with stakeholders we learn, improve and ensure that our strategies, activities and reporting align with the needs and interests of the people affected by (or who will affect) our business. We proactively engage with current and prospective investors as part of our investor relations program. Our engagement is focused on dialogue, transparency and responsiveness. Frequent and transparent communication with investors helps provide our Board and senior management with timely and valuable feedback on a range of topics. Recent engagement topics have included our financial performance, investment portfolio, corporate strategy, competitive environment, capital allocation and ESG matters. In 2022 we held over 130 meetings with current and prospective investors. ESG matters were discussed in approximately 25% of those meetings, and they constituted the sole topic of discussion in approximately 5% of those meetings. ESG topics discussed included key performance indicators (“KPIs”), feedback on our first ESG report, the integration of ESG considerations into new stream and royalty contracts, and how ESG factors are considered in the due diligence of new royalty and stream interests. We value the feedback provided by our stakeholders and will continue to conduct open dialogue on corporate governance issues, ESG topics, and other matters relevant to our business. We aim to enhance our stakeholder engagement efforts as we advance our ESG program. Further information on our stakeholder engagement practices during the due diligence phase is presented on page 36 . Royal Gold is evaluated by a number of independent ESG rating agencies that are used by a range of stakeholders to understand our relative ESG performance compared to that of mining companies and other peer groups. We continue to increase our transparency through our ESG disclosure across our business, and these efforts are generally reflected positively in Royal Gold’s improved ESG ratings. Given our unique business model, many ESG rating surveys require input that is not applicable to our Company. Royal Gold has made an effort to participate in newer surveys such as the Bloomberg Gender-Equity Index survey, which in turn is helping us better understand stakeholder interests and expectations in topics such as diversity and inclusion. The following table details our ratings since 2019 from these independent third parties. A short summary is provided on each rating agency and how our scores have evolved over time. 2022 ESG RATINGS 34 S&P Corporate Sustainability Assessment Score in 2022 2019: 7 2020: 22 2021: 22 TREND: IMPROVING 9.1 Sustainalytics 2019: 23.4 2020: 22.8 2021: 18.7 TREND: IMPROVING AA MSCI 2019: A 2020: A 2021: AA TREND: CONSISTENT C- ISS ESG Corporate Rating 2019: n/a 2020: C- 2021: C- TREND: CONSISTENT 1 ISS – Governance Score 2019: 2 2020: 2 2021: 1 TREND: CONSISTENT 8 ISS – Environment Score 2019: 9 2020: 10 2021: 10 TREND: IMPROVING 6 ISS – Social Score 2019: 9 2020: 7 2021: 8 TREND: IMPROVING 40.9% Bloomberg Gender- Equality Index 2019: n/a 2020: n/a 2021: 35.0% TREND: IMPROVING