Portfolio Energy Intensity Summary Year 1 Royal Gold Net GEOs 2 (%) Industry Quarti le Ranking 10 RGLD Attributed Energy Estimates 4,5 RGLD Attributed Energy Intensity Energy Emission Factor Electrical Power Consumption (kW-hr/ t Ore Treated) Direct Indirect Total (Tera Joule) Direct Indirect Total (Giga Joule/GEO) Direct Indirect Total (tCO 2 e/ Tera Joule) Properties With Energy Estimates 2018 98.7% 4th 1,999 954 2,952 7.8 3.7 11.5 75 60 70 38 2019 98.7% 4th 2,150 1,047 3,197 8.1 4.0 12.1 75 60 70 40 2020 99.1% 4th 2,329 1,069 3,398 8.8 4.0 12.8 67 51 62 40 2021 99.4% 4th 2,773 1,181 3,954 9.8 4.2 14.0 65 31 55 41 2022 99.4% 4th 2,383 1,135 3,517 9.1 4.3 13.4 65 34 55 41 2023 99.2% 4th 1,889 1,143 3,032 7.8 4.6 11.8 62 33 51 36 Properties Without Emissions Data 6 2018 1.3% 26 12 38 2019 1.3% 29 14 43 2020 0.9% 21 10 31 2021 0.6% 15 7 22 2022 0.6% 14 6 20 2023 0.8% 16 9 25 Total 2018 100.0% 2,025 966 2,990 7.8 3.7 11.5 75 60 70 2019 100.0% 2,179 1,061 3,240 8.1 4.0 12.1 75 60 70 2020 100.0% 2,350 1,079 3,429 8.8 4.0 12.8 67 51 62 2021 100.0% 2,788 1,188 3,976 9.8 4.2 14.0 65 31 55 2022 100.0% 2,397 1,141 3,537 9.1 4.3 13.4 65 34 55 2023 100.0% 1,905 1,152 3,057 7.8 4.6 11.8 62 33 51 1 The Company changed its fiscal year end from June 30 to December 31, effective as of December 31, 2021. Accordingly, certain amounts in this table have been adjusted to reflect unaudited calendar year information. 2 GEO production is estimated by multiplying the number of net metal or commodity units of which we take delivery, multiplied by the following standard set of commodity prices and divided by the stated gold price, with the same metal prices used for each year for comparative purposes: $1,758/oz Au; $20.54/oz Ag; $6,185.82/t Cu; $1,826.14/lb Pb; $2,268.85/t Zn; $13,672/t Ni; $25,992/t Mo; $31,161/t Co (see page 138 for complete definition). 3 Royal Gold’s interest is either a portion of the mineral property or part of a complex, and energy usage is assumed to be equally proportioned to all GEOs. 4 Mine site energy estimates were compiled by Skarn Associates, and we have relied on its database for energy presented for gold and copper mining operations. 5 Royal Gold’s attributed energy consumption = Site energy consumption x Royal Gold % of site production. 6 Energy intensity for mineral properties that were not included in the Skarn Associates database have been assumed to be equal to the average of the portfolio. 7 Prior year production adjustments occurred in 2023, resulting in negative production. 8 Industry quartile ranking is based both on Skarn Associates’ energy intensity curve for gold production (GJ/oz Au) and its energy intensity curve for copper production (GJ/t Cu). Operations are benchmarked against the gold production intensity curve unless otherwise indicated with the designation “(Cu)” indicating the ranking is based on the copper energy consumption intensity curve. ROYAL GOLD Introduction About Royal Gold Governance Our People Operators and Communities Investment Stewardship Appendices 2024 Investment Stewardship Report 104