Human Rights and Our Portfolio Human rights are basic standards aimed at securing dignity and equality for all people. Royal Gold is committed to respecting internationally recognized human rights standards, as stated in our Human Rights Policy. Our Standards for Suppliers and Operators outline our expectations regarding standards of conduct expected from suppliers and Operators that conduct business with us. When selecting new investments or undertaking other relationships with suppliers and Operators, we consider whether potential suppliers and Operators hold values and promote practices that, as applicable, align with our Standards. We seek to build mutually beneficial working relationships with suppliers and Operators and intend to show preference for those suppliers and Operators that demonstrate alignment with our Standards. Suppliers are expected to comply with the laws of the jurisdictions in which they operate, including, but not limited to, those concerning health and safety, human rights, the environment, bribery and corruption, securities, and taxes. Suppliers are also expected to respect internationally recognized principles of human rights, including those set forth in our Human Rights Policy prohibiting child labor, forced labor, and human trafficking. When considering new acquisitions or monitoring our existing portfolio of stream and royalty interests, we evaluate an Operator’s business practices, approaches and values, including whether an Operator respects internationally recognized human rights, including those relating to child labor, human trafficking, slavery, and forced labor and avoids complicity in human rights violations by third parties, and complies with applicable labor protection laws related to collective bargaining, forced labor, child labor, and discrimination. However, as passive interest holders, our ability to monitor project operations and influence an Operator’s decision making is determined by the contract that governs our stream or royalty interest, and our contractual rights are often quite limited and we might not be in a position to influence or monitor project operations. MODERN SLAVERY The concept of modern slavery covers a set of specific legal concepts, including forced labor, debt bondage, forced marriage, slavery and slavery-like practices, and human trafficking. Although modern slavery is not defined in law, it is used as an umbrella term that focuses attention on commonalities across these legal concepts. Essentially, modern slavery refers to situations of exploitation that a person cannot refuse or leave because of threats, violence, coercion, deception and/or abuse of power. 1 1 Walk Free, What is modern slavery? | Walk Free As part of our efforts to fulfill our commitment to respect human rights in connection with our stream and royalty interests, we draw upon a wide variety of policies, practices and disclosures of our stream and royalty partners, which we evaluate during due diligence and routine performance monitoring of our portfolio. Royal Gold regularly reviews Operator human rights and child labor disclosures. We also reference recognized third-party data sources to assess human rights risks with jurisdictions where we operate, which include: • UNICEF Children’s Rights in the Workplace Index Score. • The Global Slavery Index, published by Walk Free. • RepRisk , one of our ESG data providers, identifies risks and incidents of human rights and child labor that are publicly reported and assessed by jurisdiction, industry and company. Regulatory disclosure requirements concerning modern slavery are increasing and offer a more systematic, focused look at how a company considers such in their business. • Canadian Fighting Against Forced Labour and Child Labour in Supply Chains Act (S.C. 2023) came into effect on January 1, 2024, with the requirement (based on applicability) to report by May 31, 2024, on specific details and steps taken to help prevent and reduce forced labor. • Australian Modern Slavery Act (2018) requires large businesses and other entities operating in Australia with a turnover of more than $100 million AUD to report annually on the actions they have taken to address modern slavery risks in their operations and supply chains. Approximately 88% of our 2024 revenue was generated by companies that published Modern Slavery reports. Our Principal Properties’ performance on human rights metrics is presented in the following table, along with performance of our portfolio of revenue- generating interest. ROYAL GOLD Introduction About Royal Gold Governance Our People Operators and Communities Investment Stewardship Appendices 2024 Investment Stewardship Report 63