56 Royal Gold, Inc. 2022 Environmental, Social and Governance Report About Royal Gold Governance ESG Stewardship Our People Our Operators and Communities Appendices Operator GHG emissions As part of our TCFD strategy, we continued to compile a Scope 1 and Scope 2 GHG emissions inventory of our stream and royalty interests that generate revenue for Royal Gold. We have been able to track Operator Scope 1 and Scope 2 emissions (our Scope 3 Investment Emissions) estimates for approximately 98% of the net revenue generated in the four-year period from 2018 through 2021. These emissions are illustrated graphically in the figure to the right. An Appendix included with this report ( page 89 ) details our revenue-generating assets and their associated GHG emissions data, as compiled by Skarn Associates. We have weighted the emissions intensity from each stream and royalty interest, based on the net GEOs we receive as a proportion of the total GEOs produced by each asset, to determine our Scope 3 Investment Emissions. A more detailed description of the asset weighting process to estimate portfolio intensity is provided in the Glossary on page 132 . Understanding the GHG emission performance of individual assets and our portfolio of stream and royalty interests is a fundamental building block in our climate scenario analysis. It also helps us strategically consider ways to reduce or offset the GHG emissions associated with our stream and royalty interests. GHG emissions at a mine site are driven by the amount of diesel fuel consumed during mining, the amount of electrical energy consumed by the operation, the fuel sources used to generate grid power and the type of ore processing, among other factors. The GHG emissions connected to our portfolio (our Investment Emissions) are dominated by Scope 1 emissions, which are associated with using fossil fuels to power mobile equipment and in some cases generate power. Scope 1 emissions comprised approximately 84% of the total Scope 1 and Scope 2 Investment Emissions from the calendar year 2021. GHG EMISSIONS ES TIMATES 0 50,000 100,000 150,000 200,000 250,000 300,000 2020 2021 2019 2018 152,000 162,000 154,000 177,000 56,000 61,000 54,000 34,000 209,000 223,000 208,000 211,000 tCO 2 e Scope 1 Scope 2 Royal Gold attributable (kGEO(8)) Scope 1 Scope 2 Royal Gold attributable (kGEO) Site visit, Nevada – U.S.