61 Royal Gold, Inc. 2022 Environmental, Social and Governance Report About Royal Gold Governance ESG Stewardship Our People Our Operators and Communities Appendices Operator tailings management The safety of our people, the communities near to our Operators and environmental protection are key priorities. The waste products that are generated as a result of mining and ore processing, known as tailings, are of great concern to public safety and regulators, and they must be managed and stored to ensure chemical and physical stability. Our approach As part of our due diligence with respect to new business opportunities, we identify potential risk associated with tailings storage, including reviews of a site’s seismic, hydrological and geotechnical characterization; the design of facilities used to store waste; management monitoring plans for the storage facilities; and emergency planning in the event of a facility failure. Geotechnical expertise is engaged to support the review, based on each site’s circumstances. Understanding how facility designs and operation practices compare with international guidelines – such as those promulgated by the Canadian Dam Association and the Global Industry Standard on Tailings Management – provides comparatives and other information to support our evaluation of how Operators manage this important aspect of their project. On occasion, our due diligence efforts have identified projects where we felt tailing storage practices were not at an acceptable standard, and thus ceased pursuing those opportunities. We have limited site and information access to all of the properties where we have stream agreements, as well as site access to all of the properties we classify as Principal – which includes Cortez and Peñasquito – where we have royalty interests. Engaging with site personnel helps us understand how the tailings storage facilities are being constructed and operated, and confirms that facilities are being inspected on a regular basis by both the Engineer of Record and an independent third party. In 2022, all six Operators of our Principal Properties disclosed details of their tailings storage facilities and operating practices, and we estimate that properties generating 95% of our net revenue provide some level of disclosure on their tailings storage facilities. Given the heightened public profile associated with tailings storage, we have provided links on our website to the tailings management disclosures presented by our stream and royalty Operators. Khoemac a u, tailings storage facility, Cupric Canyon Capital, Ngamiland, Botswana