4 4 6 STATEMENT BY THE COMPENSATION AND ESG COMMITTEE Dear Shareholders: On behalf of the Board, the members of the Compensation and ESG Committee present our 2021 Statement of Executive Compensation. The Committee maintains a highly-disciplined approach to the executive compensation program focused on pay for performance and alignment with shareholders. We have adopted several objective metrics against which performance is measured and also consider other accomplishments during the ye ar within our framework of five Corporate Goals – Performance, Growth, ESG, Risk Management and Margins. Immediately following this letter, we have set out the highlights of our compensation program and best practices. For 2021, key accomplishments taken in to account by the CESGC included: COVID-19 Mitigation The COVID-19 pandemic continued to have significant adverse impacts through the year but the leadership team successfully managed the challenges. The leadership team prioritized the safety of the team and continued to implement work from home arrangements ensuring that all necessary supp orts were provided. As well, the leadership team maintained an inclusive and collaborative approach while the team worked from home. Going forward, a hybrid return to the office model is being implemented by the leadership team to provide team members with greater flexibility to manage their work. ESG On ESG matters, the team continued to be proactive and responsive to communities and our investors. During 2021, the team committ ed over US$1 million towards operator and community initiatives, including initiatives aimed at improving the quality of life in local communities and pilot initiatives aimed at reducing emissions. The Corporation also provided first-time disclosure aligned with the TCFD and SASB frameworks and made further progress in its efforts to further di versity, both within the Corporation and the industry. Growth and Performance In terms of corporate growth, the team generated significant growth for the Corporation. The Corporation completed over US$700 million in new precious metals and diversified investments, adding meaningful GEO growth and long-term optionality. Overall, the Corporation significantly exceeded its growth goal.