About Royal Gold Governance Our People Our Operators and Communities ESG Stewardship Appendices 115 2023 INVESTMENT STEWARDSHIP REPORT ROYAL GOLD PRINCIPAL PROPERTIES ESG SCORECARD METRICS Term/abbreviation Definition RepRisk ESG reputational risk rating This metric is a proprietary algorithm that dynamically captures and quantifies the reputational exposure to ESG risks and independently assesses the ESG reputational risk for both countries and operating companies and combines the two into a single rating. Corporate emission reduction target This is a measure of the percentage of our revenue associated with companies who have made commitment(s) to reduce total GHG emissions by 2030; these commitments may not be directly applicable to the property where we have our stream or royalty interests but refers to corporate commitments. GHG emission intensity (tCO 2 e/GEO) ranking An average estimate of the CO 2 e emissions generated for every net GEO; a declining intensity could indicate that higher-grade ore is being processed, less energy is being used in ore processing, or energy with a lower energy emission factor is being employed Total energy intensity (GJ/GEO) ranking A measure of both the Direct and Indirect energy consumed for each net GEO. An increasing Total Energy Intensity factor likely indicates the ore value being processed is reducing or an ore characteristic is requiring more energy for processing. Energy emissions factor An estimate of the average amount of CO 2 e generated (Scopes 1 and 2) for every terra joule of energy consumed in the mine site production process; a reduction in the factor can indicate switching from higher-emission fuels to lower-emission fuels, and/or an increase in the amount of electrical energy generated from renewable sources. Water stress rating by Aqueduct™ Water Risk Atlas A measure of the ratio of total water withdrawals to available renewable surface and groundwater supplies. Water withdrawals include domestic, industrial, irrigation and livestock consumptive and nonconsumptive uses. Available renewable water supplies include the impact of upstream consumptive water users and large dams on downstream water availability. Higher values indicate more competition among users. Water consumption intensity (m 3 /GEO ranking) An estimate of the amount of water consumed by the operation for mining and ore process; intensity is tracked using two denominators: net GEOs and ore tonnage processed IUNC Red List species (critically endangered and endangered located in the Project area) This metric indicates the number of species classified as Critically Endangered or Endangered within a 10 km radius of the operation’s ore processing facility. Term/abbreviation Definition Designated protected areas or Key Biodiversity Areas (KBAs) covering all or part of the project area This identifies any area formally designated as a protected area by the country or international organization or the designation as covering a Key Biodiversity Area, which is a geographical region that has been determined to be of international importance in terms of biodiversity conservation. The designation assumes a 10 km radius from the operation’s processing plant. Total Reportable Incident Rate (TRIFR) Industry ranking based on 2022 ICMM data This metric measures the number of fatalities, lost-time injuries, substitute work and other injuries requiring treatment by a medical professional, per million hours worked, and compares the specific site to the 2022 industry average TRIFR as published by the ICMM Tailing management disclosure This metric is intended to confirm the portion of the portfolio revenue associated with companies that have publicly disclosed their tailing management practices Corporate diversity and inclusion commitment This measure indicates that the company has disclosed targets related to diversity and inclusion at the corporate level but such commitments may not specifically translate to the mine operation’s level Human Rights Policy This indicates that the company has a disclosed policy on human rights or provides enough information in other disclosures that have clear statements on human rights Community Investment (US millions) This reports the amount of community donations disclosed by the mine operator with respect to the specific operation, unless otherwise noted