6 6 0 Objective Performance Measure No. 2 – Resource Replacement per Share The second objective performance measure used by the CESGC is Resource Replacement per Share and this measure fits within the Corporate Goal of Growth. The CESGC has used this performance measure to evaluate management’s performance in accretively growing the Corporation’s business. The Corporation does not operate or explore for mines. Rather, it has a broad portfolio of royalties and streams on many operations allowing it to, among other things, maximize exploration upside and focus on new investments. The CESGC will measure the Corporation’s one-year and rolling three-year average royalty-equivalent precious metals ounces (based on measured and indicated royalty- equivalent ounces) in its portfolio against th e prior one-year and three-year average on a per share basis. This will show whether th e Corporation’s resource base is growing sufficiently on a per share basis to replace precious metals ounces realized by the Corporation over the relevant time period. Gr owth is expected to occur from exploration conducted by operators of the assets on which the Corporation has royalty and stream interests and from new acquisitions. By measuring on a per share basis, the CESGC will be able to determine whether management ha s been growing the Corporation’s business accretively and will also further provide a look back on management’s initial evaluation of its investments. In determining whether the Corporate Goal of Growth has been achieved, the CESGC will take into account whether the Resource Replacement per Share measure confirms replacement of precious metals ounces real ized by the Corporation over the relevant time periods. Energy resources will not initially be considered in this metric given the current breakdown between energy assets and mining assets in the Corporation’s overall portfolio. The Corporation will assess on a regular basis when it would be appropriate to incorporate energy resources into this metric. For 2021, the CESGC determined that resources per share increased on a one-year and rolling three-year average compared to the pr ior periods and, accordingly, the Resource Replacement per Share measure was exceeded. Objective Performance Measure No. 3 – Royalty, Stream and Working Interest Book Value Growth per Share (“ B B o o k V a l u e G r o w t h p e r S h a r e ”) During 2020 and effective for the 2021 compensation year, the CESGC adopted another objective metric, Book Value Growth per Share, to evaluate management’s ability to grow the Corporation. The CESGC adopted this performance measure to evaluate management’s performance in accretively growing the business through new acquisitions. The book value of the Corporation’s portfolio of royalty, stream and working interests is increased through the addition of new investments to the Corporation’s portfolio and is decreased by depletion and any impairments of assets. In determining whether the Corporate Goal of Growth has been achieved, the CESGC will measure whether the book value of the Corporation’s royalty, stream and working interests have increased on a per share basi s over a three-year period. The three-year period was selected in order to maintain a focus on long-term grow th and creation of