Operator Water Consumption Data Analysis

Validated water consumption, intensity and rankings by operator, 2018–2024.

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

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) Pueblo Viejo 2019 17.3% 14,890 660 14 1.73 Barrick Gold Corporation 2020 16.9% 15,273 720 16 1.73 2021 14.1% 17,127 795 20 1.88 2022 12.4% 18,802 807 24 1.99 2023 10.6% 19,817 917 33 2.23 2024 9.6% 20,533 815 33 2.15 4th 4th Non-Principal Properties Allan/Borax 2019 0.3% NR NR NR NR Nutrien Ltd. 2020 0.3% NR NR NR NR 2021 0.3% NR NR NR NR 2022 0.3% NR NR NR NR 2023 0.3% NR NR NR NR 2024 0.3% NR NR NR NR NR NR Bald Mountain 3 2019 0.2% 824 3 4 0.05 Kinross Gold Corporation 2020 0.0% 1,281 1 7 0.07 2021 0.2% 1,771 4 9 0.09 2022 0.4% 2,317 11 11 0.15 2023 0.3% 3,224 18 20 0.19 2024 0.1% 3,059 4 17 0.17 3rd 1st Bellevue 2019 0.0% NR NR NR NR NR NR NR NR Bellevue Gold Ltd. 2020 0.0% NR NR NR NR NR NR NR NR NR NR NR NR 2021 0.0% NR NR NR NR NR NR NR NR NR NR NR NR 2022 0.0% NR NR NR NR NR NR NR NR 2023 0.0% NR NR NR NR 2024 1.1% NR NR NR NR NR NR INTRODUCTION ABOUT ROYAL GOLD GOVERNANCE OUR PEOPLE OPERATORS AND COMMUNITIES INVESTMENT STEWARDSHIP APPENDICES Royal Gold | 2025-2026 Investment Stewardship Report 117

INTRODUCTION ABOUT ROYAL GOLD GOVERNANCE OUR PEOPLE OPERATORS AND COMMUNITIES INVESTMENT STEWARDSHIP APPENDICES 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) Canadian Malartic 3 2019 1.8% 9,858 70 15 0.47 Agnico Eagle Mines Ltd. 2020 1.6% 8,039 62 14 0.39 2021 1.5% 11,795 68 16 0.53 2022 1.0% 14,836 58 22 0.76 2023 0.3% 16,588 18 24 0.84 2024 0.1% 14,952 6 23 1 4th 3rd Celtic/Wonder North 2019 0.0% NR NR NR NR Northern Star Resources Ltd. 2020 0.0% NR NR NR NR 2021 0.0% NR NR NR NR 2022 0.0% NR NR NR NR 2023 0.0% NR NR NR NR 2024 0.1% NR NR NR NR NR NR Côté 2019 — — — — — IAMGOLD Corporation 2020 — — — — — 2021 — — — — — 2022 0.0% NR NR NR NR 2023 0.0% NR NR NR NR 2024 0.5% 4,214 26 21 0.85 NR 3rd Dolores 2019 1.9% 1,328 38 7 0.20 Pan American Silver Corporation 2020 1.5% 1,340 38 9 0.21 2021 2.0% 1,667 51 9 0.21 2022 1.9% 1,916 60 12 0.24 2023 1.6% 2,173 67 16 0.29 2024 1.1% 2,438 74 26 0.34 4th 1st Royal Gold | 2025-2026 Investment Stewardship Report 118

INTRODUCTION ABOUT ROYAL GOLD GOVERNANCE OUR PEOPLE OPERATORS AND COMMUNITIES INVESTMENT STEWARDSHIP APPENDICES 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) Don Nicolas 3 2019 0.0% — — — — Cerrado Gold, Inc. 2020 0.4% 133 9 8 0.40 2021 0.2% 166 2 4 0.40 2022 0.2% 158 2 3 0.40 2023 0.1% 203 1 3 0.40 2024 0.4% 248 5 5 0.13 1st 1st El Limón 2019 0.6% 964 27 15 2.00 Equinox Gold 2020 0.9% 1,084 39 17 2.53 2021 1.0% 1,180 47 17 2.38 2022 1.2% 986 40 13 1.99 2023 1.1% 918 35 13 1.81 2024 1.2% 707 30 10 1.40 2nd 4th Goldstrike 3 2019 0.9% 8,985 13 5 0.56 Nevada Gold Mines LLC 2020 0.7% 11,104 13 7 0.56 (Goldstrike and Carlin were combined by Nevada Gold 2021 0.6% 13,934 16 9 0.60 Mines for reporting purposes starting in 2019 and are referred to as Carlin.) 2022 0.7% 11,157 12 7 0.57 2023 0.3% 6,725 4 5 0.57 2024 0.3% 10,933 6 9 1.01 2nd 4th Granite Creek 2019 0.0% NR NR NR NR i-80 Gold Corp. 2020 0.0% NR NR NR NR 2021 0.0% NR NR NR NR 2022 0.0% NR NR NR NR 2023 0.0% NR NR NR NR 2024 0.2% NR NR NR NR NR NR Royal Gold | 2025-2026 Investment Stewardship Report 119

INTRODUCTION ABOUT ROYAL GOLD GOVERNANCE OUR PEOPLE OPERATORS AND COMMUNITIES INVESTMENT STEWARDSHIP APPENDICES 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) Gwalia 3 2019 1.0% 1,086 16 6 1.65 Genesis Minerals Limited 2020 0.9% 1,027 15 7 1.47 2021 0.9% 1,062 15 6 1.06 2022 0.8% 1,230 17 8 1.23 2023 0.7% 1,400 15 8 1.40 2024 0.7% 2,717 30 18 2 3rd 4th Khoemacau 2019 —% — — — — MMG Limited 2020 —% — — — — (formally Khoemacau Copper) 2021 0.7% 1,440 24 12 0.80 2022 3.1% 2,700 98 12 0.75 2023 5.4% 2,379 158 11 0.73 2024 4.3% 2,642 196 18 1 3rd 3rd King of the Hills 2019 0.4% — — — — Vault Minerals Limited 2020 0.2% NR NR NR NR 2021 0.03% NR NR NR NR 2022 0.2% 1,773 13 25.4 0.75 2023 0.8% 2,186 22 10 0.46 2024 0.9% 3,236 36 16 1 3rd 2nd LaRonde Zone 5 3 2019 0.5% 2,049 6 5 0.70 Agnico Eagle Mines Ltd. 2020 0.4% 1,872 6 5 0.70 2021 0.4% 2,072 6 5 0.70 2022 0.6% 1,917 8 5 0.68 2023 0.5% 1,632 6 5 0.61 2024 0.6% 1,010 5 3 0.35 1st 1st Royal Gold | 2025-2026 Investment Stewardship Report 120

INTRODUCTION ABOUT ROYAL GOLD GOVERNANCE OUR PEOPLE OPERATORS AND COMMUNITIES INVESTMENT STEWARDSHIP APPENDICES 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) Leeville (North) 3 2019 0.3% 8,985 4 5 0.56 Nevada Gold Mines LLC 2020 0.3% 11,104 6 7 0.56 2021 1.0% 13,934 27 9 0.60 2022 0.9% 11,157 16 7 0.57 2023 1.1% 6,725 14 5 0.57 2024 1.3% 10,933 29 9 1.01 2nd 4th Manh Choh 2019 0.0% NR NR NR NR Kinross Gold Corporation 2020 0.0% NR NR NR NR 2021 0.0% NR NR NR NR 2022 0.0% NR NR NR NR 2023 0.0% NR NR NR NR 2024 1.7% 5,716 53 12 0.17 3rd 1st Mara Rosa 2019 0.0% NR NR NR NR Hochschild Mining plc 2020 0.0% NR NR NR NR 2021 0.0% NR NR NR NR 2022 0.0% NR NR NR NR 2023 0.0% NR NR NR NR 2024 0.7% 703 20 11 0.40 3rd 1st Marigold 3 2019 1.5% 1,624 30 7 0.06 SSR Mining Inc. 2020 1.7% 1,611 32 7 0.07 2021 1.6% 1,645 33 7 0.08 2022 1.3% 1,564 23 7 0.07 2023 1.0% 1,694 17 7 0.08 2024 1.3% 1,779 36 11 0.06 3rd 1st Royal Gold | 2025-2026 Investment Stewardship Report 121

INTRODUCTION ABOUT ROYAL GOLD GOVERNANCE OUR PEOPLE OPERATORS AND COMMUNITIES INVESTMENT STEWARDSHIP APPENDICES 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) Meekathara 3 2019 0.7% NR NR NR NR Westgold Resources Ltd. 2020 0.8% 1,397 16 7.6 0.5 2021 0.7% 1,165 12 6 0.39 2022 0.6% 1,294 11 6 0.47 2023 0.4% 1,982 12 11 0.90 2024 0.1% 2,888 4 20 1.12 0 4th Peñasquito 2019 4.1% 37,333 615 57 1.87 Newmont Corporation 2020 7.1% 43,103 625 33 1.41 2021 8.2% 48,222 745 32 1.35 2022 7.6% 30,180 447 22 0.84 2023 3.4% 18,765 277 32 0.90 2024 7.7% 28,619 550 27 0.90 4th 3rd Rainy River 2019 5.5% 2,482 142 10 0.31 Coeur Mining, Inc. 2020 4.7% 2,399 130 10 0.27 2021 5.2% 1,696 103 7 0.18 2022 5.0% 4,657 261 20 0.54 2023 5.8% 6,024 350 23 0.69 2024 5.6% 7,648 487 34 0.85 4th 3rd Red Chris 2019 —% NR NR NR NR Newmont Corporation 2020 —% NR NR NR NR 2021 —% NR NR NR NR 2022 0.5% 21,908 168 128 2.32 2023 0.6% 19,920 220 149 2.15 2024 0.4% 13,491 109 105 2.14 4th 4th Royal Gold | 2025-2026 Investment Stewardship Report 122

INTRODUCTION ABOUT ROYAL GOLD GOVERNANCE OUR PEOPLE OPERATORS AND COMMUNITIES INVESTMENT STEWARDSHIP APPENDICES 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) Robinson 2019 1.9% 19,409 427 84 1.37 KGHM International Ltd. 2020 2.2% 19,170 587 98 1.37 2021 1.8% 19,081 405 78 1.36 2022 1.9% 19,040 459 91 1.36 2023 1.5% 13,600 404 106 1.36 2024 2.5% 19,055 534 82 1.36 4th 4th Skyline 2019 0.3% NR NR NR NR Wolverine Fuels, LLC 2020 0.3% NR NR NR NR 2021 0.1% NR NR NR NR 2022 0.0% NR NR NR NR 2023 0.3% NR NR NR NR 2024 0.3% NR NR NR NR NR NR South Laverton 3 2019 1.1% 1,751 27 9 0.74 Northern Star Resources Ltd. 2020 2.2% 1,791 50 8 0.67 2021 1.9% 1,962 42 8 0.53 2022 1.3% 2,142 38 11 0.58 2023 1.4% 3,619 54 15 0.95 2024 1.4% 5,018 75 20 1.29 3rd 4th Southern Cross 2019 0.4% 1,172 8 7 0.50 Shandong Tianye Group 2020 0.3% 1,172 6 7 0.50 2021 0.3% 1,172 7 7 0.50 2022 0.3% 1,172 5 7 0.50 2023 0.3% 1,172 6 7 0.50 2024 0.4% 1,172 7 7 0.50 2nd 2nd Royal Gold | 2025-2026 Investment Stewardship Report 123

Mineral Property/Operator Year 1 INTRODUCTION ABOUT ROYAL GOLD GOVERNANCE OUR PEOPLE OPERATORS AND COMMUNITIES INVESTMENT STEWARDSHIP APPENDICES 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) Voisey’s Bay 2019 2.0% 5,280 72 14 2.50 Vale S.A. 2020 1.5% 5,280 56 14 2.93 2021 2.6% 5,280 98 13 2.56 2022 1.5% 2,583 42 10 1.55 2023 0.8% 4,540 65 31 2.58 2024 1.0% 3,951 49 18 2.20 3rd 4th Wassa 2019 4.4% 1,985 151 13 1.28 Chifeng Jilong Gold Mining Co., Ltd. 2020 5.0% 1,931 155 12 0.96 2021 4.9% 1,859 168 12 1.10 2022 5.2% 2,082 167 12 1.10 2023 5.2% 2,805 164 12 1.10 2024 6.3% 2,805 245 15 1.26 3rd 4th Wharf 2019 0.6% 837 17 10 0.20 Coeur Mining, Inc. 2020 0.7% 855 17 9 0.20 2021 0.6% 854 17 9 0.20 2022 0.5% 818 14 10 0.20 2023 0.7% 607 12 6 0.14 2024 0.5% 464 5 5 0.10 1st 1st Williams 7 2019 0.6% 1,662 13 8 0.57 Barrick Gold Corporation 2020 0.7% 2,917 23 13 1.46 2021 0.4% 1,138 10 8 0.92 2022 0.2% 1,062 4 8 0.90 2023 (0.2%) 1,101 -4 8 0.87 2024 0.3 % 1,187 7 8 0.85 2nd 3rd Royal Gold | 2025-2026 Investment Stewardship Report 124

Portfolio Water Consumption Intensity Summary Year 1 Royal Gold Net GEOs 2 (%) Royal Gold Attributed Consumption 5 Consumption Intensity (Validated) Industry Quartile Ranking 8 (ML) (kL/GEO) (kL/t ore treated) (kL/GEO) (kL/t Ore Treated) Properties With Water Consumption Estimates 2019 97.9% 5,683 22 0.57 2020 99.1% 5,685 21 0.53 2021 99.4% 6,146 22 0.51 2022 99.4% 6,566 25 0.60 2023 99.2% 6,423 25 0.56 2024 97.9% 6,666 26 0.60 4th 2nd Properties Without Water Consumption Data 6 2019 2.1% 120 2020 0.9% 52 2021 0.6% 34 2022 0.6% 37 2023 0.8% 53 2024 2.1% 146 Total 2019 100.0% 5,803 22 0.57 2020 100.0% 5,737 21 0.53 2021 100.0% 6,180 22 0.51 2022 100.0% 6,603 25 0.60 2023 100.0% 6,476 25 0.56 2024 100.0% 6,812 26 0.60 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 136 for complete definition). 3. Royal Gold’s interest is either a portion of the mineral properties or part of a complex, and water usage is assumed to be equally proportioned to all GEOs. 4. Mine site water consumption estimates were compiled by Skarn Associates, and we have relied on its database for emissions presented for gold and copper mining operations. 5. Royal Gold’s attributed water consumption = Site consumption x Royal Gold % of site production. 6. Water consumption 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’ water consumption intensity curves for gold production. INTRODUCTION ABOUT ROYAL GOLD GOVERNANCE OUR PEOPLE OPERATORS AND COMMUNITIES INVESTMENT STEWARDSHIP APPENDICES Royal Gold | 2025-2026 Investment Stewardship Report 126