6 6 1 shareholder value and to mitigate excessive risk-taking for short-term growth. Positive growth on a per share basis will confirm management’s ability to grow the Corporation on an accretive basis. As this metric takes into account impairments of assets, it also provides a look back on management’s eval uation of investments and does not reward short-term growth which is not supported in the long-term. For 2021, the CESGC determined that there was significant Book Value Growth per Share over a three-year period. Objective Performance Measure No. 4 – General and Administration Costs (“ G & A ”) per Gold Equivalent Ounce (“G G E O ”) The fourth objective performance measure used by the CESGC is G&A per GEO and this measure fits within the Corporate Goal of Margins. The CESGC has used this performance measure to evaluate management’s performance in containing costs and maintaining the scalability of the Corporation’s business. One of the Corporation’s business principles is that its business is scalable such that management can continue to grow the business without significantly increasing costs. The CESGC will measure the Corporation’s one-year and rolling three-year average G&A against the prior one and three-year average on a per GEO basis. This will indicate whether the management team has been successful in maintaining costs and the scalability of the business. In determining whether the Corporate Goal of Margins has been met, the CESGC will take into account whether G&A per GEO confirms that management has maintained cost control over the relevant time period. For 2021, the CESGC determined that G&A per GEO trended downward on a one-year and a rolling three-year average compared to the prior periods and, accordingly, the G&A per GEO measure was exceeded. Corporate Goal – Proactive ESG Leadership In 2020, the CESGC, as part of its ongoing commitment to best practices, adopted ESG as a standalone corporate goal to properly recognize the importance of ESG in the Corporation’s long-term strategy and success. In adding ESG as a standalone corporate goal, the CESGC determined that (i) “Proactive ESG Leadership” would be the key principle guiding the Corporate Goal and (ii) the CESGC would focus on five ESG objectives when evaluating management’s performance for compensation decisions. The CESGC believes that these five objectives are focused on the key ESG issues for the Corporation and strike the appropriate balance of subjective and measurable goals which are both backward and forward-looking. The table below sets out the five ESG objectives along with th e rationale for each objective and the factors the CESGC will consider when evaluating management’s performance. For 2021, the CESGC determined that significant achievements were accomplished by the Named Executive Officers and the Corpor ate Goal of Proactive ESG Leadership was exceeded.