2 CORTEZ, NEVADA GOLD MINES Nevada, United States | 2024 Revenue: $69,795,000 The Cortez Complex is a series of large open-pit and underground mines, with oxide ore milling and heap leach processing facilities. The open pits use conventional truck-and-shovel fleets, and mining operations move between the various pits over the life of mine plan. Underground operations use large- scale mechanized cut-and-fill and long-hole stoping mining methods. Non-refractory ores from the mines are treated on-site, while refractory ores are shipped to the Nevada Gold Mines (NGM) Carlin Complex for processing in its autoclave or roaster facilities. The mine dewatering wells supply the consumptive water used for mining and processing. Electrical power is obtained from the grid and is generated from the Western 102 (natural gas power plant). In 2024, NGM completed the construction of the second and final phase of a 200-megawatt solar power plant, which will have the capacity to produce 17% of NGM’s annual power demand while realizing an equivalent emissions reduction of approximately 234Kt of CO2 per year. Mining operations began in 1969, and the Operator estimates that defined mineral reserves and resources will support production past 2042, with the opportunity for the further addition of mineral reserves. ROYAL GOLD Introduction About Royal Gold Governance Our People Operators and Communities Investment Stewardship Appendices 2024 Investment Stewardship Report 14 SUSTAINABILITY SCORECARD - 2024 JURISDICTION AND COMPANY REPUTATION RepRisk ESG country risk rating WATER Water stress rating by Aqueduct™ Water Risk Atlas SAFE OPERATION Total Recordable Incident Frequency Rate 1 quartile ranking Moderate RepRisk ESG company reputational risk rating Extremely High Water consumption intensity (m 3/ GEO) quartile ranking 2 2nd Number of fatal accidents Moderate Corruption Perception Index quartile ranking 1st Water consumption intensity (m 3 /tonne ore processed) quartile ranking 2 0 Tailing management disclosure 1st Quartile 1st Yes ENERGY AND CLIMATE Corporate GHG emission reduction targets BIODIVERSITY International Union for Conservation of Nature (IUCN) Red List species, critically endangered and endangered (located in a 10- km radius of the project center) COMMUNITY AND HUMAN RIGHTS Corporate Human Rights Policy Yes Scope 1 and 2 GHG emissions intensity (tCO 2 e/GEO) quartile ranking 2 2 Designated protected area or KBA covering all or part of the project area Yes Modern Slavery Disclosure 1st Total energy intensity (GJ/GEO) quartile ranking 2 None Report Community Investment (U.S. millions) 3 2nd $18.8 Grievance Mechanism Yes 1 Industry ranking based on 2023 International Council on Mining and Metals (ICMM) data 2 Based on Skarn Associates Gold Industry ranking curves for 2023 3 Total value is for Nevada Gold Mines