Legal Matters Cautionary Note Regarding Forward-Looking Statements This report includes “forward-looking statements” within the meaning of U.S. federal securities laws. Forward-looking statements are any statements other than statements of historical fact. Forward-looking statements are not guarantees of future performance, and actual results may differ materially from these statements. Forward-looking statements are often identified by words like “will,” “may,” “could,” “should,” “would,” “believe,” “estimate,” “expect,” “anticipate,” “plan,” “forecast,” “potential,” “intend,” “continue,” “project,” or negatives of these words or similar expressions. Forward-looking statements include, among others, statements regarding the following: the potential effects of climate change and related regulation on us or the Operators or their projects; actions we or the Operators may take in response to climate change and related regulation; the benefits of the various efforts described in this report, including, among others, those relating to sustainability, health and safety; our expected financial performance and outlook; Operators’ expected operating and financial performance and other anticipated developments relating to their properties and operations, including production, deliveries, environmental and feasibility studies, technical reports, mine plans, capital requirements, liquidity, and capital expenditures; opportunities for investments, acquisitions and other transactions, and the process and criteria we use in evaluating such opportunities; anticipated benefits from investments, acquisitions and other transactions; anticipated liquidity, capital resources, financing, and stockholder returns; borrowings and repayments under our revolving credit facility; the materiality of properties within our portfolio; macroeconomic and market conditions; and prices for gold, silver, copper, and other metals. Factors that could cause actual results to differ materially from these forward-looking statements include, among others, the following: environmental risks, including those caused by climate change; changes in laws or regulations governing us, Operators, or their properties, including actions taken by governments and other entities and groups to mitigate climate change and in response to climate change; contractual issues involving our stream or royalty agreements, including those as a result of climate change; future exploration and development activities by Operators; our ability to identify, finance, value and complete investments, acquisitions, or other transactions; increased competition for stream and royalty interests; changes in the price of gold, silver, copper, or other metals; operating activities or financial performance of properties on which we hold stream or royalty interests, including variations between actual and forecasted performance, Operators’ ability to complete projects on schedule and as planned, Operators’ changes to mine plans and mineral reserves and mineral resources (including updated mineral reserve and mineral resource information), liquidity needs, mining and environmental hazards, labor disputes, distribution and supply chain disruptions, permitting and licensing issues, other adverse government or court actions or operational disruptions; changes of control of properties or Operators; potential cyber-attacks, including ransomware; adverse economic and market conditions; effects of health epidemics and pandemics; changes in management and key employees; and other factors described in our most recent Annual Report on Form 10-K, including under the caption Risk Factors, and in our other filings with the SEC. Most of these factors are beyond our ability to predict or control. Other unpredictable or unknown factors not discussed in this report could also have material adverse effects on forward-looking statements. Forward-looking statements speak only as of the date on which they are made. We disclaim any obligation to update any forward-looking statements, except as required by law. Readers are cautioned not to put undue reliance on forward-looking statements. Statement Regarding Materiality This report discloses the Company’s GHG emissions, the GHG emissions associated with properties on which the Company holds stream or royalty interests and certain scenario analyses, transition plans and activities the Company or Operators may take to mitigate or adapt to climate change. While the Company believes that it is prudent to consider climate-related risks and the potential effects of climate change on the Company, the Company does not consider its GHG emissions or any scenario analyses, transition plans or activities the Company or Operators may take to mitigate or adapt to climate change to be material to the Company’s business, strategy, results of operations or financial condition, in light of the time horizons involved and the currently anticipated magnitude of the impact to the Company’s business, strategy, results of operations or financial condition of climate change. Statement Regarding Third-Party Information The disclosures in this report relating to properties and operations on the properties in which we hold stream or royalty interests are based in most cases on information publicly disclosed by the Operators of these properties and information available in the public domain, and in some cases on information provide to us by consultants or other third-party sources. We do not independently prepare or verify information provided by consultants or other third-party sources or the information publicly disclosed by or provided directly to us by the Operators, and, as the holder of stream and royalty interests, we do not have access to the properties or operations or to sufficient data to do so. There can be no assurance that such third-party information is complete or accurate. ROYAL GOLD Introduction About Royal Gold Governance Our People Operators and Communities Investment Stewardship Appendices 2024 Investment Stewardship Report 78