5 5 8 which was then compared to the Corporation’s total shareholder return in order to determine whether performanc e-based RSUs should vest. The CESGC will continue to use this Performance Index to determine whether performance-based RSUs should vest (and the application of the performance-based multiplier) but the Performance Index is also used in determining incentive compensation awards. The performance index (the “ P P e r f o r m a n c e I n d e x ”) is weighted between three categories, being commodities (20%), market indices (40%) and a royalty/streaming peer group (40%) with the specific weightings of the individual components in each category being based on the breakdown of the Corporation’ s revenues and/or weightings in various indices. For the performance-based RSUs awarded in 2018 and 2019, the index was equally weighted between the three categories but the CESGC determined that the updated weightings were more a ppropriate commencing in 2020. The components of the Performance Index and the rationale for their inclusion are as follows: t he prices of gold, silver, platinum, pall adium, and oil (WTI), as these are the principal commodities underlying the Corporation’s portfolio; t he S&P/TSX Global Gold Index for a co mparison to operating gold companies; t he S&P/TSX Composite Index as it is a broad market index and a number o f institutional investors invest in Franco-Nevada based on its inclusion in the Index; and t he royalty/streaming specific peer group consisting of Wheaton Precious Metals Corp., Royal Gold, Inc. and PrairieSky Royalty Ltd. as these are the largest (by market capitalization) royalty/streaming peers in the industry. The Corporation’s total shareholder return (ass uming reinvestment of dividends) relative to the return generated by the Performance Index will be considered on a one-year and three-year basis. The CESGC has decided to use two time periods for measurement for a balanced perspective rather than taking a short-term focus. If the Corporation’s total shareholder return significantly outperforms or underperforms relative to the Performance Index, the CESG C will consider whether awards of incentive compensation above or below target are warranted. If the Corporation’s total shareholder return is generally aligned relative to the Performance Index, the CESGC expects to award incentive compensation at targeted levels unless there are other extraordinary factors which would be disclosed.