Overview Governance Strategy Risk Management Metrics and Targets Appendices 43 2023 CLIMATE REPORT ROYAL GOLD Tracking our performance For comprehensive insights into our environmental performance metrics and targets, we encourage readers of this report to refer to Royal Gold’s 2023 Investment Stewardship Report for detailed information about our commitment to carbon neutrality and a thorough breakdown of Operator performance on energy, emissions, water and other metrics. Notably, while our Climate Report will be updated periodically, performance data will be published annually in the ISR. This allows us to streamline the information, make it easily accessible in one consolidated location, and minimize complexity for our stakeholders, contributing to our efforts of transparency. OUR CORPORATE FOOTPRINT Royal Gold’s direct environmental impact is low, with 30 employees across four offices in the United States, Switzerland and Canada. We continue to subsidize and encourage employees to use public transportation for daily commuting. The transition to a hybrid office model, coupled with 14% of our employees working exclusively from home, also reduces in-office emissions broadly and those associated with commuting to work. Two-thirds of our employees are based in our Denver Headquarters, a LEED Gold certified building. We have no corporate scope 1 emissions, which stem from direct fuel combustion. Our scope 2 and 3 corporate emissions are associated with our corporate operations, and are exclusive of our scope 3 investment emissions, which reflect the scope 1 and 2 emissions attributed to the mines over which we hold stream and royalty interests. Since 2020, we have acquired verified carbon credits to offset scope 2 and 3 corporate emissions that we otherwise have been unable to eliminate, thus achieving carbon neutrality in our corporate operations. We are committed to remaining carbon neutral for our corporate operations and will continue to explore ways to reduce our carbon footprint. We will report annually in our ISR the projects where carbon offsets were purchased. ROYAL GOLD CORPORATE SCOPE 2 GHG EMISSIONS 1 2023 2021 2020 Denver, Colorado Toronto, Ontario Lucerne, Switzerland 0 20 40 60 80 100 2022 (tCO 2 e) 86 83 93 90 ROYAL GOLD CORPORATE SCOPE 3 GHG EMISSIONS 2,3 2023 2021 2020 0 80 160 240 320 400 2022 Employee business travel Employee commuting (tCO 2 e) 68 44 406 310 ROYAL GOLD CORPORATE TOTAL SCOPE 2 AND 3 GHG EMISSIONS 2023 2021 2020 0 160 320 480 640 800 2022 (tCO 2 e) 155 127 499 400 ROYAL GOLD CORPORATE ENERGY CONSUMPTION Estimated indirect grid electricity purchased (market-based) 2023 2021 2020 0 80 160 240 320 400 2022 (MWh) 247 250 275 258 1 Our scope 2 corporate emissions are calculated internally and include our Denver, Toronto and Lucerne offices, which cover about 97% of our Company (30/31 employees in 2022). Our Vancouver office, which consists of a single office let in a third-party space, is omitted from the totals as associated energy consumption data are not readily available. Royal Gold uses emissions factors from the Greenhouse Gas Protocol’s GHG Emissions Calculations Tool to determine scope 2 corporate emissions. 2 Our scope 3 corporate emission calculations include employee business travel; these are provided by a third party, Egencia. Our employee commuting emissions are calculated internally. Egencia uses emissions factors from the United Kingdom’s Department for Environment, Food and Rural Affairs. Our scope 3 corporate emissions cover 100% of all Royal Gold employees. 3 Emissions in 2020 and 2021 are low due to limited travel during COVID. Employee  business travel Denver,  Colorado Denver,  Colorado Toronto,  Ontario Toronto,  Ontario Employee  commuting Lucerne,  Switzerland Lucerne,  Switzerland