About Royal Gold Governance Our People Our Operators and Communities ESG Stewardship Appendices 67 2023 INVESTMENT STEWARDSHIP REPORT ROYAL GOLD OPERATOR BIODIVERSITY Biodiversity, or the rate of loss of biodiversity worldwide is considered one of the planet’s key risks by the World Economic Forum. Royal Gold is committed to developing a path forward with respect to systematically reporting biodiversity metrics across our stream and royalty portfolio. By generating this information for our portfolio we learn which sites may have elevated levels of risk, allowing us to investigate these sites in more depth. Furthermore, the educational value of understanding biodiversity in greater depth enhances our due diligence efforts. Importance of Biodiversity By endorsing the ICMM Mining Principles, Royal Gold recognizes Principle 7: Conservation of Biodiversity. As a streaming and royalty company, we are beginning to explore how we can actively contribute to the conservation of biodiversity and integrate approaches to land-use planning. Some of our initial evaluations of biodiversity impacts with respect to our portfolio include the utilization of the Integrated Biodiversity Assessment Tool (“IBAT”). Presently, we are in the early stages of assessing our current portfolio risks and opportunities in addition to improving our biodiversity-related due diligence for new investments. IBAT is a web-based map and reporting tool that provides fast, easy and integrated access to three of the world’s most authoritative global biodiversity datasets: The IUCN Red List of Threatened Species, the World Database on Protected Areas, and the World Database of Key Biodiversity Areas. IBAT can also help users understand the “range rarity” (rarity-weighted species richness) of certain locations, which considers the number of species present at a given location and the relative importance of that location for the species, in terms of the proportion of its global range that it represents. The chart on the following page shows the proximity of our Principal Properties to any Key Biodiversity Areas (“KBAs”), including any identified International Union for Conservation of Nature (“IUCN”) species within a 10-km radius of the point selected to represent the operation’s position and the corresponding IBAT Rarity Weighted Richness score. We expect to continue to improve our monitoring and reporting of biodiversity topics.