About Royal Gold Governance Our People Our Operators and Communities ESG Stewardship Appendices 58 2023 INVESTMENT STEWARDSHIP REPORT ROYAL GOLD Operator ESG performance ESG stewardship means continually maintaining an understanding of the stream and royalty interests we hold with respect to production, operational, environmental, and social and governance, 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, from our Operators’ public disclosures and from third-party data sources. Operator annual ESG reports are also important sources of data. OPERATOR ESG-RELATED POLICY STATEMENTS AND STANDARDS We expect to see an annual ESG report and policy statements, standards or detailed descriptive content within the ESG reports or websites related to 15 subject areas from Operators of the revenue- generating portion of our portfolio. In reviewing disclosures weighted by our 2023 revenue, approximately 90% of our portfolio revenue is provided by companies that provide disclosure against 11 of the 15 areas. We hope to see further improvements in disclosures within the portfolio. Portfolio performance disclosure falls below 100%, as some of our revenue is generated by private companies, which have no disclosure obligations. Policy/standard/statement disclosure 1 % of 2023 revenue covered ESG Reports for 2022 86% Environmental Environmental/Sustainability Policy 99% Biodiversity Policy/Standard 84% TCFD Framework Climate Change Disclosure 85% Certified by Cyanide Code 2 71% Tailings Management Practices Disclosure 85% Social Safety & Health Policy 99% Human Rights Policy/Statement 92% Child Labor Policy/Statement 3 84% Diversity Policy 93% Community/Sustainability/Stakeholder Engagement Policy 87% Formal Community Grievance Mechanism 85% Governance Code of Conduct 88% Anti-bribery/Corruption Policy 87% Supply Chain Policy/Standards 79% Whistleblower Policy/Process 88% 1 Compliance with the criteria is given for having a standalone policy or part of a broader policy; or a description provided on the company website or ESG report that provides enough detail to define the approach to the defined subject. 2 Cyanide Code only applies to sites using cyanide. 3 Aligned if “child labor” referenced in Human Rights Policy. Xavantina , Ero Copper Corp., Mato Grosso State, Brazil