Investment Stewardship Governance The Role of Our Board in Investment Stewardship The CNG Committee of the Board oversees investment stewardship. All committee members are independent under Nasdaq and SEC rules, including enhanced independence rules applicable to compensation committee members. Our CNG Committee determines the areas of expertise required to ensure maximum effectiveness of our Board and its committees for our specific business. The matrix here summarizes our Directors’ knowledge, skills and experience related to sustainability. The CNG Committee meets regularly with our senior management team to review investment stewardship and sustainability-related risks and opportunities related to our business strategy, including monitoring management practices and management’s progress on Company sustainability initiatives. This is detailed further in subsequent sections and is also addressed in Royal Gold’s 2025 Proxy Statement. 2024 PERFORMANCE • During 2024, the Board held nine meetings, and the CNG Committee held five meetings. Sustainability matters were formally presented and discussed at all CNG Committee meetings. • The full Board reviewed the 2023 Investment Stewardship Report in advance of publication. • The full Board reviewed the 2023 Climate Report in advance of publication. Sustainability-related knowledge, skills and experience Chubbs Hayes Heissenbuttel McArthur Sokalsky Vance Veenman Biodiversity Climate Change Corporate Governance Cybersecurity Environment Health and Safety Human Capital (Talent, Attraction and Retention) Indigenous Relations Legal and Regulatory (Sociopolitical) Labor Relations Permitting Public Policy Risk Management Stakeholder Engagement Tailings Water Board Tenure Years 4 17 5 11 9 12 8 Some Experience Extensive Experience Appendices Investment Stewardship Operators and Communities Our People Governance About Royal Gold Introduction ROYAL GOLD 2024 Investment Stewardship Report 32