100.0 100.0 90.0 90.0 80.0 80.0 70.0 70.0 60.0 60.0 58.0 50.0 49.0 50.4 50.0 40.0 36.0 40.0 37.7 36.4 30.0 29.6 30.1 30.0 20.0 21.8 20.0 28.9 20.2 10.0 19.4 20.3 10.0 11.5 21.6 14.2 8.8 8.7 - - 2020 2021 2022 2020 2021 2022 Electricity Steam Employee Commuting - Car Business Travel - Air 16.0 7.0 14.1 6.2 Responsible Capital Allocation Community Contributions Good Governance & Shareholder Alignment Diversity, Inclusion & Well-Being Climate Action Transparency & Guiding Principles Appendices 14.0 0.1 6.0 42 12.0 11.0 5.0 10.0 0.4 4.0 8.0 12.3 5.6 Investment Footprint 3.0 6.0 9.4 2.3 2.2 4.0 4.1 2.0 0.4 1.5 1.5 The GHG Protocol does not provide guidance 2.0 2.5 * 1.0 for calculating Financed Emissions related to Financed Emissions for mining interests = 0.8 1.2 1.2 1.7 0.7 0.6 many of the alternative investment types that ** - - may be optionally reported, including royalty (Franco-Nevada GEOs from operation ÷ Operation’s GEOs) x Operation’s emissions 2020 2021 2022 2020 2021 2022 and stream interests. There are additional *** industry-specific guidelines which aim to Financed Emissions for energy interests = Water Waste Other Purchased Good & Services Electronics Paper Use supplement the GHG Protocol guidance, ** including the Partnership for Carbon Franco-Nevada production volume (bbls) from operation or region x Emission intensity Accounting Financials’ (PCAF) Standard Scope 3 Financed Emissions (tCO e) for certain Financed Emissions, but to date 2 90.0 there have been no guidelines or agreed Scope 3 Financed Emissions 800,000 methodologies for Scope 3 Financed GHG emissions attributable to our mining 737,107 80.0 78.3 692,424 Emissions relating to royalties and streams. and energy mining and energy interests, 700,000 137,459 627,365 70.0 classified by the GHG Protocol as Scope 3, 600,000 143,240 At a high level, all of the existing methodologies Category 15 (Investments), are set out in the 131,656 60.0 for calculating emissions attributable to adjacent chart. Such Financed Emissions have 500,000 50.0 44.1 investments take the proportion of an investee’s been calculated using the abovementioned 400,000 enterprise or asset value held by the investor, methodologies. Due to the delayed timing 40.0 33.4 and apply this proportion to the investee’s or of availability of production and emission data 300,000 599,648 30.0 549,184 495,709 asset’s Scope 1 and Scope 2 GHG emissions. from our operators, Financed Emissions have 200,000 20.0 been calculated for 2019, 2020 and 2021. After extensive internal strategic discussions 100,000 10.0 and correspondence with shareholders, analysts, Although our Financed Emissions decreased each - - and ESG rating agencies, we have adopted the year from 2019 to 2021, total emissions from our 2019 2020 2021 2020 2021 2022 following production-based methodology for producing mining assets (i.e. on a 100% basis determining Financed Emissions from each for such operations, as set out in Appendix B) Mining Interests Energy Interests of our producing royalty and stream interests: were flat between 2019 and 2020 and increased in 2021. The decreases to our Financed Emissions “We have measured, over such period result from the fact that for * Includes our Vale debentures and equity interest in Labrador Iron Ore Royalty Corporation, which we consider as royalty certain assets (particularly copper mines where equivalents. Franco-Nevada holds one other small equity holding of a producing mining operator, which emissions are disclosed and attributed we receive precious metal by-products), the negligible and have not been included. Where total production figures for certain mining operations have not been proportion of Franco-Nevada’s GEOs relative publicly disclosed, we have sourced such data from S&P Capital IQ. to the overall operations’ GEOs decreased. This ** Operator emissions and emission intensities include Scope 1 and 2 emissions. We have relied upon McKinsey MineSpans to our Scope 3 reporting, for emissions data for producing mining operations. Emissions for non-producing mining and energy operators are is primarily due to the disproportionate increase deemed to be negligible and have not been included. proportional greenhouse during this period of the price of copper relative *** Includes emissions relating to our working interests over which we do not exercise any control. For certain of our energy to precious metals prices. royalties and other interests covering large land packages with numerous operators, asset-by-asset emissions estimates gas emissions from our are not practicable or available. For consistency, we have calculated all of our Scope 3 emissions from our energy interests using the most accurate publicly available emission intensities (tCO e/bbl) and have applied the volume (bbls) received 2 royalty and stream interests.” by Franco-Nevada from each operation or region to calculate our attributable emissions.