Approach Topics and the assessment process for this undertaking were cross-referenced with the Sustainability Accounting Standards Board (SASB) for the industries of “Asset Management & Custody Activities” and “Metals & Mining”, the Corporate Sustainability Reporting Directive (CSRD), peer and mining operator disclosures, and our existing investment stewardship priorities. We have disclosed what we believe are our most important investment stewardship topics relating to our mining operator interests (indirect topics) and our corporate offices (direct topics). Indirect topics include risks at the mine site level that are managed by Operators but nevertheless represent indirect risks or opportunities for Royal Gold. Direct topics include risks at Royal Gold corporate offices that affect its 29 employees. The assessment of responses included both a qualitative and quantitative review of inputs. This approach resulted in two graphs that reflect the impact on society and environment along with the impact on our financial performance from both a mining operator perspective and Royal Gold corporate office perspective. This report covers a variety of priority topics; however, we have chosen to specifically highlight the actions we are taking to manage the highest-ranking priorities identified in our assessment charts, which includes ethics, integrity and compliance, risk management, and tailings management. INVESTMENT STEWARDSHIP PRIORITY ASSESSMENT PROCESS Identify sustainability topics. Interview Board and select investors and survey employees. Analyze outcomes (risk and opportunity assessment). Finalize and update Investment Stewardship Priority Matrix with CEO and executive management guidance. Develop strategic action plan to monitor priority topics. Disclose progress made on action plan. COMPLETED IN PROGRESS ROYAL GOLD Introduction About Royal Gold Governance Our People Operators and Communities Investment Stewardship Appendices 2024 Investment Stewardship Report 27