Royal Gold also regularly engages with industry associations and other stakeholder groups. We are an active participant in the World Gold Council Sustainability Task Force, which is working in collaboration to launch the Consolidated Mining Standard Initiative (CMSI). CMSI aims to bring together the best aspects of four well-established standards — the Copper Mark, the Mining Association of Canada’s Towards Sustainable Mining, the World Gold Council’s Responsible Gold Mining Principles and ICMM’s Mining Principles — into one global standard that reduces complexity and clarifies responsible practices for mining companies of all sizes across all locations and commodities. Investment Stewardship Priorities Assessment Royal Gold continues to evolve its investment stewardship strategy. Stakeholders expect information not only on how risks may financially affect a company but also how a company’s actions may impact the environment and society. Our priorities assessment takes into account perspectives from our investors, our Board and our employees. The two charts below highlight our priorities from two perspectives: consolidated risks identified in our portfolio and our corporate employees. CONSOLIDATED RISKS IDENTIFIED IN OUR PORTFOLIO Environmental Social Governance OUR CORPORATE EMPLOYEES ROYAL GOLD Introduction About Royal Gold Governance Our People Operators and Communities Investment Stewardship Appendices 2024 Investment Stewardship Report 26