About Royal Gold Governance Our People Our Operators and Communities ESG Stewardship Appendices 28 2023 INVESTMENT STEWARDSHIP REPORT ROYAL GOLD PROGRESS ON OUR 2023 ESG PLANS The table below highlights our progress on the 2023 ESG priorities disclosed in our 2022 ESG Report. 2023 plans 2023 progress and achievements Climate change Achieve carbon neutrality for corporate emissions annually and implement reduction strategies where we can. Verified “Improved Forest Management Carbon-Removal” credits were secured in 2023 to offset our 2022 scope 2 and 3 corporate emissions. In 2023, we engaged a third-party to verify our corporate footprint. Evaluate opportunities to make a positive impact and reduce risk for our interests with respect to climate change. We continue to evaluate and better understand the risk associated with climate change for our interests. Royal Gold joined the World Resources Institute (“WRI”) Aqueduct Alliance in 2023. Participation in the Alliance allows us the opportunity to access the latest water-related data and engage with WRI experts which, in turn, helps us better understand the water- related risks associated with our portfolio. Engage with our Operators who provide more than 2% of our revenue and work to understand what actions they are specifically taking to reduce GHG emissions and where appropriate, determine if we can be a source of financing to advance selected initiatives. We continue to make an effort to engage with our Operators, when appropriate, on opportunities relating to GHG emissions. In 2023, we reviewed potential emissions reduction opportunities but did not participate in the funding of any projects. We will continue to seek emissions reduction opportunities in 2024. Community investment Aim to contribute $1.5 million in support to organizations that serve the critical needs of the communities in which our corporate offices and Operators are located, continuing to align with the SDGs. In 2023, Royal Gold contributed a total of $1.2 million to over 29 organizations globally, all of which align with the SDGs. ESG governance Refresh our ESG priorities assessment. We conducted a new assessment in 2023 that captured feedback from our Board and select investors. The results of the assessment will help shape future ESG-related training opportunities for our employees. More information on our assessment can be found on page 26 . Complete diversity and inclusion educational awareness training for employees. Royal Gold implemented an online compliance and culture education/training program in 2023. We conducted anti- harassment training that helped to establish the foundation for future diversity and inclusion education opportunities. 2024 ESG PRIORITIES In 2024, we will continue to evaluate meaningful ways to make improvements across our business. The table below outlines Royal Gold’s ESG priorities for 2024. 2024 ESG priorities Climate change • We will continue to engage with our Operators to understand what actions they are specifically taking to reduce GHG emissions and where appropriate, determine if we can be a source of financing to advance selected initiatives. • We will continue to maintain carbon neutrality for our corporate emissions through the purchase of high-quality, verified carbon offsets and implement reduction strategies for our corporate operations where we can. Community investment • We aim to contribute $1.5 million in support to organizations that serve the critical needs of the communities in which our corporate offices and Operators are located, continuing to align with the SDGs. In 2024, we plan to engage with our Operators to identify new projects that we can support financially. • We aim to continue and strengthen our scholarship and mining education contributions in 2024. ESG governance • We plan to complete ESG-focused educational courses for employees. • We plan to complete annual cybersecurity training for employees. • We plan to evaluate the potential expansion of our alignment with internationally recognized ESG-related standards.