22 Royal Gold, Inc. 2022 Environmental, Social and Governance Report About Royal Gold Governance ESG Stewardship Our People Our Operators and Communities Appendices Priority ESG topics The following ESG topics of interest to shareholders and other stakeholders were identified in 2021 through an ESG priorities assessment with an independent, third-party ESG consulting firm; these topics informed the development of our four pillars and they remain priorities for our business and are emphasized in this report. The topics are Governance, Talent, Product Design/Life Cycle of a Deal, Business Integrity, and Transition to a Lower Carbon Economy. Royal Gold plans to refresh its ESG priorities assessment in 2023, in order to capture the key ESG risks and concerns of our stakeholders. These topics include issues that are key to Royal Gold’s corporate operations, as well as those Corporate or mine site level risks that are managed by our Operators but nevertheless present indirect risks to Royal Gold. For example, an indirect but priority topic would be an Operator’s risk associated with water availability, while employee development and retention is a priority area for both Royal Gold and its Operators. As another example, carbon emissions related to our corporate activities differ from the emissions generated at an active mine or development project owned by an Operator. Either area can be a source of risk to Royal Gold. The figures below identify ESG risks that Royal Gold believes are the most important, the direct or indirect influence we may have on those risks, and our assessment of the relative importance of each risk to Royal Gold and our stakeholders. PR I OR IT Y TOPI C MATR I X Importance to Royal Gold Stakeholders Importance to Royal Gold Larger shape size denotes higher level of influence 2 1 2 4 4 2 1 2 3 1 3 1 Category Important ESG topics Direct Indirect Environmental Transition to a low-carbon economy 1 Climate change (Scope 2 and 3) 2 Climate change (portfolio) 1 Operator risk associated with energy intensity, transition to low-carbon fuels, water availability, and other risks related to climate change Social Talent 1 Health and safety 2 Employee development and retention 3 Stakeholder communication and relations 4 Diversity and inclusion 2 Operator risk associated with health and safety, human rights, labor rights and community relations Governance Product design/Life cycle of a deal Governance Business integrity 1 Ethics, integrity and compliance 2 Risk management (investment process and asset stewardship) 3 Corporate governance 4 Cybersecurity