Responsible Capital Allocation Community Contributions Good Governance & Shareholder Alignment Diversity, Inclusion & Well-Being Climate Action Transparency & Guiding Principles Appendices 68 Resilient Operators Carbon Sequestration at Weyburn Continental Resources Carbon Capture Mt. Keith Solar Farm and Carbon Capture Our investments in organizations, projects and (Franco-Nevada has royalty interests and and Sequestration Project (Franco-Nevada has royalty interests on the Mt. initiatives developing adaptive capacity to a working interest at Weyburn) (Franco-Nevada has a strategic royalty Keith nickel operation) respond to climate change to better manage acquisition joint venture with Continental) climate-related risks and seize opportunities Whitecap Resources’ Weyburn Unit in southeast In July 2021, BHP announced its plans to build may improve our own reputation, market Saskatchewan is a CO injection enhanced oil In March 2022, Continental Resources a 27.4 MW solar farm at its Mt. Keith nickel 2 valuation and resilience to the transition recovery project. CO is transported as a liquid announced that it would be investing $250 operations, BHP’s first off-grid large-scale 2 to a low-carbon economy. from two separate industrial sources. At the million over the next two years to help Summit renewable energy project across its global source, the CO is captured and compressed Carbon Solutions build a $4.5 billion carbon operations, which will replace power currently 2 Many of the assets in our portfolio are operated before transmission via pipeline to Weyburn. capture and sequestration project. It is supplied by diesel and gas. The solar farm, by best-in-class operators. The ingenuity and The CO in liquid form is then injected at high anticipated that the project will capture and where construction is currently underway, 2 technical skills of these operators, including pressure into the Weyburn Unit. The gas stream transport via pipeline 8 million metric tonnes will significantly reduce BHP’s Scope 2 relating to sustainable practices, processes and that is recovered with the oil production is per year of CO from 31 ethanol plants across emissions at Mt. Keith. 2 technologies, often provide them with a processed for natural gas liquids and the the US Midwest. That carbon will then be competitive advantage, reducing their costs and remaining CO volume is reinjected into the sequestered in subsurface geologic formations In October 2021, BHP also announced plans to 2 their operating risks and ultimately reducing formation on an ongoing basis. Accordingly, in North Dakota, where Continental Resources conduct trials at the Mt. Keith tailings dam their cost of capital. with minor adjustment for losses, all of the CO will leverage its geologic expertise gained from at Nickel West, which could store about 40,000 2 purchased and transported by pipeline for its extensive oil and gas drilling operations in tonnes of CO from the atmosphere per year. 2 Mining and energy operators, including all of injection at Weyburn constitutes additional the Bakken Shale. BHP’s initial research has indicated that enhancing our Top Mining Producers, contributing to more CO volumes stored each year. the mineral carbonation rate of the tailings 2 than two-thirds of our 2022 revenues have The project aims to bring operations online the dam could significantly increase its capacity proactively set targets and developed plans to Since its inception in 2000, more than 36 million first half of 2024 and will have the capability of to store CO . 2 reduce carbon emissions, with some tonnes of CO , or an average of 1.7 million tonnes expanding to ultimately transport up to 20 2 committing to the long-term achievement of of CO per annum, from two separate industrial million metric tonnes per year of CO . 2 2 net-zero emissions. sources have been captured and stored 1.5 km underground, the equivalent of taking We continue to look for opportunities to invest approximately 8 million cars off the road for an “Mining and energy operators, including all of our in other best-in-class operators and, as a capital entire year. In addition to having carbon storage provider, potentially facilitate their low-carbon benefits, injecting CO helps oil come to the 2 Top Mining Producers, contributing to more than transitions. On this page, we have highlighted surface more easily and improves the efficiency the resourcefulness of certain of our operators, of production, maximizing the ultimate recovery two-thirds of our 2022 revenues have proactively set their efforts to reduce their carbon footprints, of oil originally in place. and their commitments to combating climate targets and developed plans to reduce carbon change, which exemplify the types of operators Mining and energy operators utilizing lower and operations where we look to deploy capital. emission and emissions reduction processes emissions, with some committing to the long-term and technologies demonstrate their adaptability to climate change. As decarbonisation continues achievement of net-zero emissions.” to take centre stage, we will continue to look to partner with and fund these companies and projects, which involvement will improve our own sustainability profile.