Responsible Capital Allocation Community Contributions Good Governance & Shareholder Alignment Diversity, Inclusion & Well-Being Climate Action Transparency & Guiding Principles Appendices 65 Resilience of Our Portfolio Diversification of Portfolio Our exposure to climate-related risks is • In the short and medium-term, any (% of revenue) substantially mitigated by the diversification climate-related cessation of production of our royalty and stream portfolio. No one at an operation in which we have a royalty Rest of operator or asset contributed more than 17% or stream interest can be viewed as deferral Gas World 12% 9% of our total 2022 revenues, which mitigates of revenue for our company realizable upon operator-specific or localized climate-related re-commencement of production. Oil NGL 2% Mexico & Canada risks (e.g. reputational, acute physical and local • Most of our assets are non-cost bearing. 12% Other Mining Central & USA 0% America regulatory and legal risks). We also receive In the long term, other than an asset Commodity 23% Geography 41% revenues from various commodity types becoming uneconomic, we are generally Iron Ore Gold 4% 55% produced in a multitude of jurisdictions, which insulated from rising costs, including those PGM mitigates risks impacting broader regions and related to carbon pricing, associated with 4% markets (e.g. chronic physical, country-wide the transition to a low carbon economy. Silver 11% South America regulatory and legal, and market risks). While 27% we do have significant exposure to gold, broader Due to the breadth and diversification of our market and reputational climate-related risks portfolio, our exposure to climate-related events, which may impact the gold industry are further trends or sentiments adversely impacting a mitigated through our rigorous due diligence particular project or operator or more broadly First Cobre Panama Quantum process geared towards investing in best-in-class adversely affecting a commodity type or Others 17% 17% operators, many of whom have already set jurisdiction is reduced. Climate risk exposure 27% long-term climate-related goals and commenced is further mitigated by factors inherent in our Candelaria Lundin low-carbon transitions. business portfolio, including those eliminating 10% Others Operator 10% cost exposure in respect of our assets, and our Assets 48% Antapaccay Glencore Certain mitigation factors are also inherent with high standards and rigorous due diligence 7% Vale Barrick 7% 3% 4% our business model. For example, as a royalty processes geared toward investing in Energy Guadalupe Coeur and stream company, we are a free cash flow best-in-class operators and operations. 6% 6% 25% Teck Antamina 5% business without direct exposure to operating, Vale 5% capital or closure costs. 3%