45 Royal Gold, Inc. 2022 Environmental, Social and Governance Report About Royal Gold Governance ESG Stewardship Our People Our Operators and Communities Appendices Our approach Stewardship means continually maintaining an understanding of the stream and royalty interests we hold with respect to production, operational, environmental, social, governance and safety criteria, among other considerations. Understanding the ESG performance of Operators and properties in which we hold stream and royalty interests begins with collecting information through a monitoring process. This monitoring process supports the systematic reporting of relevant information to senior management and the Board. We obtain monitoring data and other information via contractual rights as discussed previously, from our Operators’ public disclosures and from third-party data sources. Operator annual ESG reports are also important sources of data. We recognize the areas highlighted below have the potential to generate ESG and operating risks for our Operators and, hence, pose significant risks to our interests. Energy and climate change Water availability Safe operation These three areas of focus are far from an exhaustive list of ESG considerations but provide the basis for a monitoring scorecard that can be easily communicated. We provide discussion of these three areas of focus after first discussing our asset monitoring and reporting processes. Energy and climate change – Bluesource – Blue Ridge Escarpment Improved Forest Management Project. Photographer – Mac Stone; Water availability – Site visit, British Colombia, Canada; Safe operation – Site visit, Nevada, U.S.