57 Royal Gold, Inc. 2022 Environmental, Social and Governance Report About Royal Gold Governance ESG Stewardship Our People Our Operators and Communities Appendices Operator GHG emission intensity As part of our TCFD strategy, we have assembled GHG emission intensity data for our stream and royalty interests, which is a useful metric to assess ongoing performance on a portfolio basis. GHG emission intensity is measured as the tonnes of Scope 1 and Scope 2 CO 2 (equivalent) emissions per net GEO produced. The average emission intensity for the revenue-generating portion of our stream and royalty portfolio is shown in the figure to the right. Using a GHG intensity measurement as a KPI allows for the ability to track performance over time, regardless of changes in the annual production attributable to our stream and royalty interests. GHG intensity performance over the four-year period of 2018–2021, representing approximately 98% of our net revenue, shows GHG emissions intensity has experienced a modest improvement trend. With an assessment of the Scope 1 and Scope 2 GHG emission intensity associated with our stream and royalty interests, we have benchmarked this performance against the gold mining industry using a 2022 GHG emission database compiled by Skarn Associates, which presents reported energy and emissions information for 2021 for gold mining operations. The figure to the right shows that our stream and royalty interests are in the third quartile of GHG emission intensity per GEO for the 62 million GEOs represented in the database. For context, the figure to the right also shows the GHG emission intensity for several of our Operator properties. SCOPE 1 AND 2 GHG EMISSION INTENSIT Y 0.0 0.1 0.2 0.3 0.4 0.5 0.6 0.7 0.8 0.9 2020 2021 2019 2018 0.58 0.61 0.58 0.62 0.22 0.23 0.21 0.12 0.80 0.83 0.79 0.74 tCO 2 e/Net Gold Equivalent Ounces Scope 1 Scope 2 Using a GHG intensity measurement as a KPI allows for the ability to track performance over time, regardless of changes in the annual production attributable to our stream and royalty interests. GOLD INDUS TRY GHG EMISSIONS INTENSIT Y 2021 WITH ROYAL GOLD PROPER TIES 1, 2 1 © Skarn Associates Limited 2 Khoemac a u not shown as data were not available for 2021. Scope 1 Scope 2 Scope 1 Scope 2 Above: Quisqueya power plant, Dominican Republic