4 Royal Gold, Inc. 2022 Environmental, Social and Governance Report About Royal Gold Governance ESG Stewardship Our People Our Operators and Communities Appendices About this report This is Royal Gold’s second Environmental, Social and Governance (“ESG”) report, which covers the 2022 calendar year. Royal Gold is committed to publishing an ESG report annually. Our report is intended to provide our stakeholders with detailed information regarding our internal processes as they relate to ESG considerations and specific information on the ESG performance of the revenue-generating portion of our portfolio, including our “Principal Properties.” Our Principal Properties consist of six existing interests which in 2022 constituted approximately 71% of our annual revenue. We define our investments as “interests” and we refer to our mining company counterparties as our “Operators.” We expect our future ESG reports will continue to evolve in both content and key areas of focus. The scope of this report includes ESG-related information for our Royal Gold corporate operations from December 31, 2021 to December 31, 2022. Our Operator data covers the period from December 31, 2020 to December 31, 2021. In cases where the report features forward- or backward- looking information to support the narrative, we have specified the referenced time period. In some instances, information and data from the six-month transition period from June 30, 2021 to December 31, 2021 is included, as we changed our fiscal year-end from June 30 to December 31 as of December 31, 2021. Our management level ESG Committee and the Compensation, Nominating and Governance (“CNG”) Committee of our Board of Directors (the “Board”) have reviewed this report. This report has not been independently verified by a third party. We have aligned with three ESG-focused standards for this report, which includes two new standards, the Global Reporting Initiative (“GRI”) Standards and the United Nations Sustainable Development Goals (“UN SDGs” or “SDGs”). We’ve highlighted a key SDG contribution for each of our six Principal Properties where we have royalty or stream interests, which can be found on pages 9–14 . We have also aligned our charitable donations with the SDGs, outlined in the “Supporting our Operators and communities” section on page 67 . A complete list of our SDG contributions can be found in the SDG index on page 129 . We have deepened our alignment with the Task Force on Climate-related Financial Disclosure (“TCFD”) through the completion of a scenario analysis on the potential impact of climate change on ten jurisdictions generating more than 80% of our revenue in 2021. In many cases, the most fulsome data set and full scenario analysis for a given asset may be best reported by the Operator of that asset; however, we will endeavor to provide stakeholders with a straightforward assessment of the climate change risks associated with the localities that host our Principal Properties. For the first time, we have developed and presented an ESG performance scorecard summarizing what we believe are the key performance metrics of our royalty and stream assets. The scorecard ( page 75 ) is supported by Operator data in the Appendices of this report ( page 77 ). The Appendices also contains Royal Gold’s disclosures with reference to the GRI Universal Standards and TCFD standards, and can be found on pages 106 and 109 , respectively. Unless otherwise noted, all amounts are in U.S. dollars. We welcome your questions and feedback on our report or performance. Please send your questions or comments to investorrelations@royalgold.com . ROYAL GOLD OPERATOR FOOTPRINT METHODOLOGY OVERVIEW Royal Gold uses the attribution factor, net gold equivalent ounces production (“net GEO”) for its weighted GHG emissions, energy consumption and water consumption from each Property in which we hold a stream or royalty interest. This allows us to compare royalty and stream interests on an equivalent basis. This methodology is used to determine the environmental footprint that can be attributed to our beneficial interests in Properties. Our Operators’ GHG emission and energy and water consumption estimates were compiled by Skarn Associates, an independent ESG data analytics firm. We have relied on Skarn Associates’ database for gold and copper mining operations. A detailed description of our methodology is included in our Glossary ( page 132 ).