PROGRESS ON OUR 2024 PLANS The table below highlights our progress on the 2024 priorities disclosed in our 2023 Investment Stewardship Report. 2023 Plans 2024 Progress Achievements Climate change Achieve carbon neutrality for corporate emissions annually. Improved Forest Management Carbon-Removal credits were secured to offset our 2024 scope 2 and 3 corporate emissions. Evaluate opportunities to make a positive impact and reduce risk for our interests with respect to climate change. We continue to evaluate and better understand the risk associated with climate change for our interests. Engage with the Operators that provide more than 2% of our revenue and work to understand what actions they are specifically taking to reduce GHG emissions; where appropriate, determine if we can be a source of financing to advance selected initiatives. We continue to make an effort to engage with the Operators, when appropriate, on opportunities relating to GHG emissions. Community investment Aim to contribute $1.5 million in support to organizations that serve the needs of the communities in which our corporate offices and Operators are located, continuing to align with the SDGs. In 2024, Royal Gold contributed a total of $1.49 million to 31 organizations globally, all of which align with the SDGs. Governance Address matters identified in the 2023 investment stewardship priorities assessment. The results of the assessment were evaluated in 2024. Tailings management was identified as a priority topic, which prompted an internal review. Additionally, more in-depth details were disclosed in this report relating to other high-ranking priority topics that were identified during the assessment. Complete sustainability training for employees. We provided sustainability training to all employees in 2024. 2025 PRIORITIES In 2025, we will continue to evaluate meaningful ways to make improvements across our business. The bullets below outlines Royal Gold’s investment stewardship priorities for 2025. 2025 Investment Stewardship Priorities Climate Change • We will continue to engage with the Operators to understand what actions they are specifically taking to reduce GHG emissions; where appropriate, we will determine if we can be a source of financing to advance selected initiatives. • We will continue to maintain carbon neutrality for our corporate emissions through the purchase of high-quality, verified carbon offsets and implement reduction strategies for our corporate operations where we can. Community Investment • We aim to contribute $1.5 million in support to organizations that serve the needs of the communities in which our corporate offices and Operators are located, continuing to align with the SDGs. • We aim to continue and strengthen our scholarship and mining education contributions and have a target of establishing scholarships at two new universities. Investment Stewardship Governance • We plan to complete sustainability-focused educational opportunities for employees. • We plan to complete annual cybersecurity training for employees. • We plan to evaluate the potential expansion of our alignment with internationally recognized sustainability-related standards. ROYAL GOLD Introduction About Royal Gold Governance Our People Operators and Communities Investment Stewardship Appendices 2024 Investment Stewardship Report 28