41 Royal Gold, Inc. 2022 Environmental, Social and Governance Report About Royal Gold Governance ESG Stewardship Our People Our Operators and Communities Appendices Deal creation and ESG If a favorable investment decision is made, a stream or royalty agreement is then developed. We actively integrate ESG considerations into our contracts when feasible and monitor the ESG performance of the mining operations in which we have interests. When entering into a new agreement for a metal stream or royalty, we seek durable contract structures that typically include the following elements, which are intended both to limit the ESG risks associated with our interest and provide for adequate communication or investigation of ESG risks that might arise from time to time, notwithstanding our passive business model. Operating covenants: Require Operators to conduct project operations in compliance with host country laws and permits and, where possible, industry-recognized best practices for mine operations and the management and mitigation of ESG risks Information rights and reporting obligations: Provide for transparency and regular and exception-based reporting of material developments in project operations, labor matters, environmental issues and the concerns of local communities and other stakeholders Inspection and audit rights: Allow for regular inspection of project operations and audit of operator books and records Delivery standards: Where we take delivery of precious metals under stream agreements, requiring that those deliveries satisfy the London Bullion Market Association’s (“LBMA’s”) “Good Delivery” standards, including adherence to LBMA’s “Responsible Sourcing Programme,” designed to combat money laundering, terrorist financing and human rights abuses in the precious metals markets Transfer restrictions: Create reasonable restraints on the transfer of project ownership to ensure that projects continue to be owned and operated by financially and technically capable counterparties Remedies: Allow for appropriate legal remedies, including contract termination and recovery of Royal Gold’s economic interest under certain circumstances Royal Gold will also actively seek to contribute to our Operators’ mine site community development efforts. When entering into a new agreement for a metal stream or royalty, we seek durable contract structures that are intended both to limit the ESG risks associated with our interest and provide for adequate communication or investigation of ESG risks. Above: Peñasquito, Newmont, Zacatecas, Mexico