About Royal Gold Governance Our People Our Operators and Communities ESG Stewardship Appendices 43 2023 INVESTMENT STEWARDSHIP REPORT ROYAL GOLD Talent attraction and retention Attracting, securing, developing and continually engaging our employees is key to our success. The complexity of providing financing for mining projects worldwide demands a high-performing and collaborative team with a diverse set of backgrounds, skill sets, experience and perspectives to ensure that we meet our business objectives. OUR APPROACH With significant experience in key disciplines of geology, and mining operations, as well as project development, finance, accounting and law, we seek to expose our people to a variety of projects and involve them in key business decisions. We believe this approach helps our employees expand their skills by creating meaningful experiences, which in turn, results in advancing Company objectives. Our comprehensive compensation package includes competitive wages, health and dental benefits, and various insurance coverage. We regularly benchmark all levels of wages and total compensation and ensure that the majority of all short-term incentive compensation is based on corporate-wide, shared benchmarks. The following personal development opportunities are an important part of our culture and help to inspire and motivate our team: Continuing education and skill enhancement: We offer financial support to employees and Directors who wish to enhance their education in areas key to our business. In 2023, Royal Gold supported a variety of educational and skills development opportunities totaling $52,050. This included executive leadership training for senior management, various continuing education courses for employees and specialized educational courses for some of our Directors. Secondments: Employees are welcome to broaden their skills and perspectives through secondment opportunities across our offices and apply these perspectives when they return to their role. Succession planning: Ensuring a robust succession plan at all senior management levels, including our Board, is imperative given the flat structure of our organization. Emerging talent experiences the boardroom, the field and educational opportunities, fostering a comprehensive understanding of the Company in a positive environment that encourages knowledge-sharing. EMPLOYEE WELLNESS AND TALENT RETENTION The sustained growth and success of our business rely on the well-being of our people. We firmly believe that our approach to nurturing personal and career development opportunities, combined with a strong record of internal promotion, contributes to our very low voluntary turnover rate. As of December 31, 2023, Royal Gold maintains a small but efficient team of 30 employees. The value generated per employee highlights the efficiency of our business model, underscoring the importance of retaining our workforce. With a commendable track record, the Company consistently maintains a low average voluntary turnover rate, excluding retirements of long-serving staff members. 2023 employee statistics 0 recordable health and safety incidents from 2019–2023 0 employee turnover 2022: 1 2021: 1 2020: 3 2019: 1 30 number of employees 2 2022: 31 2021: 29 2020: 29 2019: 25 1 retirement of a long-serving employee 2022: 0 2021: 1 2020: 2 2019: 0 0% annualized employee turnover rate 3 2022: 3.4% 2021: 3% 2020: 7% 2019: 0% 1 Three employees elected not to disclose their gender and, therefore, are not reflected in the total numbers. 2 Headcount at December 31, 2023. 3 Calculated based on employee headcount at January 1, 2023, and excludes the retirement of long-serving employees.