About Royal Gold Governance Our People Our Operators and Communities ESG Stewardship Appendices 97 2023 INVESTMENT STEWARDSHIP REPORT ROYAL GOLD PORTFOLIO EMISSION INTENSITY SUMMARY Year 1 Royal Gold net GEOs 2 (%) RGLD attributed emissions Emission intensity Industry quartile ranking 10 Scope 1 Scope 2 Scope 1 & 2 Scope 1 Scope 2 Scope 1 & 2 (tCO 2 e) (tCO 2 e/GEO) Properties with Emissions Estimates 2018 98.7% 149,637 57,297 206,934 0.58 0.22 0.81 3rd 2019 98.7% 161,058 62,905 223,963 0.61 0.24 0.85 3rd 2020 99.1% 154,934 54,192 209,126 0.58 0.20 0.79 3rd 2021 99.4% 180,164 36,292 216,456 0.64 0.13 0.77 3rd 2022 99.4% 155,887 38,856 194,743 0.59 0.15 0.74 3rd Properties Without Emissions Data 6 2018 1.3% 1,916 733 2,649 2019 1.3% 2,167 846 3,013 2020 0.9% 1,423 498 1,921 2021 0.6% 1,003 202 1,205 2022 0.6% 880 219 1,099 Total 2018 100.0% 151,552 58,031 209,583 0.58 0.22 0.81 2019 100.0% 163,224 63,751 226,976 0.61 0.24 0.85 2020 100.0% 156,357 54,690 211,046 0.58 0.20 0.79 2021 100.0% 181,167 36,494 217,660 0.64 0.13 0.77 2022 100.0% 156,767 39,076 195,843 0.59 0.15 0.74 1 The Company changed its fiscal year end from June 30 to December 31, effective as of December 31, 2021. Accordingly, certain amounts in this table have been adjusted to reflect unaudited calendar year information. 2 Gold equivalent ounces (“GEO”) production is estimated by multiplying the number of net metal or commodity units of which we take delivery, multiplied by the following standard set of commodity prices and divided by the stated gold price, with the same metal prices used for each year for comparative purposes: $1,758/oz Au; $20.54/oz Ag; $6,185.82/t Cu; $1,826.14/lb Pb; $2,268.85/t Zn; $13,672/t Ni; $25,992/t Mo; $31,161/t Co (see page 117 for complete definition). 3 Royal Gold’s interest is either a portion of the mineral properties or part of a complex, and energy usage is assumed to be equally proportioned to all GEOs. 4 Mine site emissions estimates were compiled by Skarn Associates and we have relied on their database for emissions presented for gold and copper mining operations. 5 Royal Gold’s attributed emissions = Site emissions x Royal Gold % of site production. 6 Emissions intensity for mineral properties that were not included in the Skarn Associates database have been assumed to be equal to the average of the portfolio. 7 Beginning January 1, 2023, Wassa is no longer considered a Principal Property. 8 Stream interest was acquired in 2021. 9 Production was initiated in 2021. 10 Industry quartile ranking is based both on Skarn Associates’ emissions intensity curve for gold production (tCO 2 e/oz Au) and the emissions intensity curve for copper production (CO 2 e/t Cu). Operations are benchmarked against the gold production intensity curve unless otherwise indicated with the designation “(Cu)” indicating the ranking is based on the copper emissions intensity curve.