Responsible Capital Allocation Community Contributions Good Governance & Shareholder Alignment Diversity, Inclusion & Well-Being Climate Action Transparency & Guiding Principles Appendices 72 Metrics and Targets The metrics and targets used to assess and manage relevant climate-related risks and opportunities Emissions relating to our corporate operations Corporate Operations Investments • In this ESG Report, we have summarized and our royalty and stream portfolio, calculated We aspire to achieve net-zero Corporate We are committed to considering the the progress of our Top Mining Producers in accordance with the GHG Protocol Corporate Emissions by 2050. To reach this goal, we will: decarbonization efforts and net-zero in achieving their decarbonization goals Accounting and Reporting Standard, are set out • Measure and record our Corporate Emissions alignment of operators and operations when and net-zero ambitions (see page 11) on pages 39–42 in this ESG Report. In 2022, we in accordance with the Greenhouse making investment decisions. We are also • We have measured and recorded our produced no (nil) Scope 1 GHG emissions, 50.4 Gas Protocol; committed to engaging with new and existing Financed Emissions for 2019, 2020 and 2021 tCO e of Scope 2 GHG emissions and 83.8 tCO e • By 2024, adopt short and long-term partners on their efforts to decarbonize and (see page 42) 2 2 of Scope 3 GHG emissions for an aggregate total science-based GHG emission reduction achieve net-zero emissions by 2050 or sooner. • In 2022, we helped finance Continental of 134.2 tCO e. Such Scope 3 GHG emission total targets for our Corporate Emissions in line To achieve this, we will: Resources’ solar-powered water recycling 2 excludes any Financed Emissions (or Scope 3, with the achievement of net-zero emissions • Assess the decarbonization commitments, project in Oklahoma Category 15 (Investments) emissions). Due to by 2050 or sooner; plans, targets and initiatives of operators, the delayed timing of availability of production • Maintain carbon neutrality on an annual including commitments to or progress Stakeholders and emission data from our operators, Financed basis for our Corporate Emissions by towards achieving net-zero emissions To further support and awareness of climate Emissions have been calculated and disclosed purchasing high quality carbon offsets by 2050 or sooner in our due diligence reduction goals, including net-zero emissions for 2019, 2020 and 2021. for those Corporate Emissions processes when evaluating new by 2050 or sooner, we will: that cannot be eliminated; and opportunities; • Ensure that our external consultants are In 2023, we made a new goal to achieve net-zero • Report on our progress and provide • Monitor operators’ decarbonization efforts familiar with our support for the goal of emissions relating to our global corporate climate-related disclosures aligned with and progress towards net-zero emissions decarbonization and net-zero emissions operations (our “Corporate Emissions”) by 2050, the recommendations from the Task Force by 2050 or sooner; by 2050 or sooner and understand in line with global efforts to limit warming to for Climate-related Financial Disclosures • Measure and record Financed Emissions Franco-Nevada’s commitments under 1.5°C (“net-zero emissions by 2050 or sooner”). (TCFD) and regulatory requirements from our royalty and stream assets in the Climate Action Policy; and applicable to our company. accordance with the Greenhouse Gas • Ensure before transacting with any We also committed to consider the Protocol and other leading supplementary significant supplier of goods for our decarbonization efforts and net-zero Progress made towards commitments guidance; and corporate operations, that such supplier alignment, including with respect to the and measures: • Explore options on how we may assist is aligned with the goal of net-zero commitments, plans, targets and initiatives, • We have measured and recorded our operators’ energy transitions, climate-related emissions by 2050 or sooner. of operators and operations when making Corporate Emissions (see pages 40–41) community and other initiatives, and/or investment decisions and to engage with • In 2022, we engaged with representatives other activities aimed at decarbonization Progress made towards commitments new and existing partners on their efforts from Carbon Disclosure Project (CDP) and and achieving net-zero emissions by 2050 and measures: to decarbonize and achieve net-zero Science Based Targets initiative (SBTi) for or sooner. • Since the recent adoption of our Climate emissions by 2050 or sooner. preliminary discussions about our net-zero Action Policy, we have ensured that our commitments and associated emission Progress made towards commitments consultants acknowledge familiarity with We have adopted a Climate Action Policy, reduction targets and measures: our net-zero goal and our Climate Action which is summarized below and formalizes • We achieved carbon neutrality for our • Since the recent adoption of our Climate Policy commitments our climate-related commitments and measures Corporate Emissions (see page 41) Action Policy, we have assessed the • We have ensured that our significant relating to corporate operations and our • In this ESG Report, we have reported on our net-zero alignment of operators suppliers of goods for our corporate investment decisions, and other commitments progress, including in alignment with TCFD when evaluating new opportunities operations have commitments, plans, regarding our other stakeholders. in this Appendix targets or initiatives aligned with net-zero