47 Royal Gold, Inc. 2022 Environmental, Social and Governance Report About Royal Gold Governance ESG Stewardship Our People Our Operators and Communities Appendices TCFD achievements and future plans Moving forward, we will seek to provide our stakeholders with more detailed assessments of how climate-related risks and opportunities could impact our business. The figure below sets out our key TCFD achievements for 2022 and our 2023 aspirations for further progress. GOVERNANCE Disclose the organization’s governance around climate-related risks and opportunities STRATEGY Disclose the actual and potential impacts of climate-related risks and opportunities on the organization’s investment portfolio, strategy and financial planning where such information is material RISK MANAGEMENT Disclose how the organization identifies, assesses and manages climate-related risks METRICS AND TARGETS Disclose the metrics and targets used to assess and manage relevant climate- related risks and opportunities where such information is material 2022 ACHIEVEMENT S Issued inaugural ESG Report with included emissions disclosures for our corporate footprint and our portfolio and stream and royalty interests Carried out a gap analysis with respect to planned TCFD disclosure with the 2022 ESG Report Completed qualitative climate scenario analysis on jurisdictions that generated >80% of our 2021 net revenue Systematically included an assessment of GHG emissions for new business opportunities and internally communicated the impacts of adding new assets to our portfolio of revenue generating properties. Assessed Scope 2 and 3 emissions associated with our offices and obtained carbon offsets (Royal Gold has no Scope 1 emissions) Assessed energy use intensity, Scope 1 and Scope 2 GHG emissions, and GHG emission intensity for our streaming and royalty interests and benchmarked results 2023 PL ANS We will update our ESG priorities assessment for the 2023 ESG Report We will engage with the larger revenue-generating Operators in our stream and royalty portfolio to understand what actions they are taking to reduce their GHG emissions and where appropriate, determine if there are opportunities for us to be a source of financing for those projects Based on the knowledge gained in our climate scenario analysis, we will systematically include climate risk analysis in our due diligence process, consistent with our learnings, and include the impacts of carbon pricing in our financial analysis We will model emissions from our stream and royalty interest for each asset’s life-of-mine and take into account defined actions and pledges by each Operator to understand our future attributed emissions (our Scope 3 Investment Emissions)