Operator Water Consumption The following table presents water consumption and water use intensity for a majority of our revenue-generating mineral properties, as available from Skarn Associates for calendar years 2018 through 2024. The table also provides the water consumption that can be attributed to our streams and royalties and the average water intensity for our portfolio. We have estimates of consumption and water use intensity associated with about 98% of our net GEOs in each of the six years presented. Entries labeled “NR” means the data were not reported in the Skarn Associates database, and those labeled “–” are for periods when Royal Gold did not have royalty or stream revenue from the mineral property. Skarn Associates may update prior year information, which we may have presented in prior reports. We use the most current data available from Skarn Associates and adjust our presentation of data and calculations accordingly. The Operator Water Consumption table does not include assets from the Sandstorm/Horizon or Kansanshi transactions as these were not in our portfolio during 2024. Mineral Property/Operator Year 1 Royal Gold Net GEOs 2 (%) Validated Water Consumption 4 (ML) Royal Gold Attributed Water Consumption 5 Water Consumption Intensity (Validated) Water Consumption Intensity Quartile Ranking 8 (ML) (kL/GEO) (kL/t Ore Treated) (kL/GEO) (kL/t Ore Treated) Principal Properties Andacollo 2019 17.2% 8,770 1,734 38 0.52 Teck Resources Limited 2020 13.4% 9,032 1,309 37 0.46 2021 11.4% 8,896 1,518 47 0.48 2022 8.4% 9,242 1,266 57 0.54 2023 8.4% 8,732 1,192 55 0.54 2024 6.5% 8,161 886 52 0.57 4th 2nd Cortez 3 2019 4.3% 4,185 50 4 0.19 Nevada Gold Mines LLC 2020 6.1% 4,022 82 5 0.19 2021 11.0% 4,965 212 7 0.17 2022 10.6% 3,104 100 4 0.21 2023 18.8% 5,375 293 6 0.21 2024 11.3% 4,516 183 6 0.42 1st 1st Mount Milligan 2019 23.3% 6,697 1,339 21 0.41 Centerra Gold Inc. 2020 24.8% 7,333 1,571 24 0.37 2021 23.5% 8,023 1,638 25 0.38 2022 27.0% 10,427 2,346 33 0.49 2023 23.5% 8,833 2,030 33 0.41 2024 24.3% 8,900 2,139 34 0.41 4th 1st INTRODUCTION ABOUT ROYAL GOLD GOVERNANCE OUR PEOPLE OPERATORS AND COMMUNITIES INVESTMENT STEWARDSHIP APPENDICES Royal Gold | 2025-2026 Investment Stewardship Report 116