2. Cortez, Nevada Gold Mines NEVADA, UNITED STATES | 2025 REVENUE: $67,538,000 Nevada Gold Mines’ (NGM) Cortez Complex is a series of large open-pit and underground mines, with oxide ore milling and heap leach processing facilities. The open pits use conventional truck-and-shovel fleets, and mining operations move between the various pits over the life of mine plan. Underground operations use large-scale mechanized cut-and-fill and long-hole stoping mining methods. Non-refractory ores from the mines are treated on-site, while refractory ores are shipped to NGM’s Carlin Complex for processing by autoclave or roaster facilities. To increase trade skills beyond traditional training, NGM launched a Training Mine program in 2025. NGM is also introducing the Barrick Academy in the U.S., which is designed to enhance business acumen and financial management for engineers, geologists, supervisors and other professionals. Annual Stewardship Performance JURISDICTION AND COMPANY REPUTATION - 2026 RepRisk ESG country risk rating Moderate RepRisk ESG company reputational risk rating Low Corruption Perception Index quartile ranking 1st Quartile WATER - 2024 Water stress rating by Aqueduct™ Water Risk Atlas Extremely High Water consumption intensity (m 3 /GEO) quartile ranking 1 1st Water consumption intensity (m 3 /tonne ore processed) quartile ranking 1 1st SAFE OPERATION - 2025 Number of fatal accidents 1 Tailing management disclosure Yes ENERGY AND CLIMATE - 2024 Corporate GHG emission reduction targets Yes Scope 1 and 2 GHG emissions intensity (tCO 2 e/GEO) quartile ranking 1 1st Total energy intensity (GJ/GEO) quartile ranking 1 3rd BIODIVERSITY - 2026 International Union for Conservation of Nature (IUCN) Red List species, critically endangered and endangered (located in a 10-km radius of the project center) 2 Designated protected area or KBA covering all or part of the project area None COMMUNITY AND HUMAN RIGHTS - 2026 Human Rights Policy Yes Modern Slavery Disclosure Report Grievance Mechanism Yes 1. Based on Skarn Associates Gold Industry ranking curves for 2024. INTRODUCTION ABOUT ROYAL GOLD GOVERNANCE OUR PEOPLE OPERATORS AND COMMUNITIES INVESTMENT STEWARDSHIP APPENDICES Royal Gold | 2025-2026 Investment Stewardship Report 14