54 Royal Gold, Inc. 2022 Environmental, Social and Governance Report About Royal Gold Governance ESG Stewardship Our People Our Operators and Communities Appendices Operator ESG performance Operator climate change commitments We see that 88% of our net revenue is generated from assets where the operating company has initiated climate disclosure with reference to the TCFD framework. However, the level of disclosure maturity varies greatly among companies, and we look at the statistic as indicating a high degree of climate risk awareness. With respect to emission reduction targets by companies contributing to our 2021 net revenue, 65% is associated with operating companies that have set targets to be achieved by 2030 or earlier, and 58% of the same set of companies have made a formal commitment to net zero GHG emissions by 2050. CLIMATE CHANGE REPOR TING 0% 20% 40% 60% 80% 100% Commitment to Achieve Net Zero by 2050 Emission Reduction Targets – 2030 Disclosure in line with TCFD 88% 65% 58% Yes No % of Alignment Yes No DIRECT AND INDIRECT ENERGY EXPLAINED Direct energy: the energy produced and consumed by the Operator within its operations, projects and facilities; it may include energy from fuels, sunlight, wind, water, etc. and is used to run the Operator’s equipment and vehicles, and to produce power and heat on-site Indirect energy: electricity, thermal or other energy sources provided by a retail provider or facility not owned or operated by the user of the energy Given the assessment of the energy intensity associated with our stream and royalty interests, we have benchmarked the portfolio performance for 2021 against the gold mining industry, using the database provided by Skarn Associates. The figure on the next page shows our portfolio position of energy intensity per gold equivalent ounce (“GEO”), against more than 62 million GEOs represented in Skarn Associates’ database of gold mines. For context, the figure on the next page also shows the energy intensity for several of our Operator properties. Pueblo Viejo, Barrick Gold, Sánchez Ramírez, Dominican Republic