11 Message from our CEO Report Highlights About Franco-Nevada Responsible Capital Allocation Due Diligence Process Ongoing Asset Management Key ESG Factors Health and Safety Carbon Footprint Water Management and Risk Tailings Management Biodiversity Supply Chain Community Contributions Good Governance and Shareholder Alignment Diversity, Inclusion and Well-Being Climate Action Transparency and Guiding Principles About this ESG Report Appendices Mining operators, contributing to more than 90% of our 2023 mining revenues, have proactively established targets to reduce carbon emissions, including planned or actualized emission reductions derived from reliance upon renewable energy, or have made commitments to achieve net-zero emissions by 2050 or sooner. Our Top Mining Producers have adopted commitments, targets, and initiatives, as highlighted on this page. We continue to look for opportunities to deploy capital to other best-in-class operators and, as a capital provider, potentially help facilitate their low-carbon transitions. Top Mining Producers: Decarbonization Commitments, Targets and Initiatives Emission Reduction Targets Net Zero Commitments Highlighted Initiatives / Achievements Reduce Scope 1 and 2 emissions by 30% by 2025 and 50% by 2030 from 2020 baseline Reduce GHG intensity of copper mining by 50% by 2030 from 2020 baseline NA Achieved 100,000 tCO 2 e per year reduction by powering Cobre Panamá’s expansion with renewable energy. Announced goal to transition Cobre Panamá coal plant unit 1 to renewable energy by 2025 and coal plant unit 2 to renewable and natural gas mix by 2030, with a complete transition away from use of coal power by 2030. Reduce Scope 1 and 2 emissions by 35% by 2030, from 2019 baseline NA Site decarbonization roadmaps reviewed and integrated into company-wide 2030 target, with external validation planned. Power purchase agreement entered into with energy supplier at Candelaria is expected to result in increase of the use of renewables to a minimum of 80%, prioritizing wind and solar energy. Reduce Scope 1, 2 and 3 emissions by 15% by 2026 and 50% by 2035, from 2019 baseline Achieve net-zero Scope 1, 2 and 3 emissions by 2050 Renewable energy transition plans for purchased electricity with the aim of addressing Scope 2 emissions, including commercial solutions for green power purchase agreements, supported by guarantees of origin or other renewable energy generation certification. Reduce carbon intensity by 33% by 2030 Achieve net-zero Scope 2 emissions by 2025 Achieve net-zero Scope 3 emissions by 2050 Achieve net-zero emissions by 2050 Teck and other industry leaders are building the North Pacific Green Corridor (NPGC) to decarbonize the value chain of critical minerals, metals and other low-carbon products between the Canadian Pacific coast and partners in the Indo-Pacific region, with the ultimate goal for the value chain to achieve net-zero GHG emissions by 2050. Reduce Scope 1 and 2 emissions by 33% by 2030 Reduce Scope 3 net emissions by 15% by 2035 Achieve net-zero Scope 1 and 2 emissions by 2050 Portfolio of generated electricity is 98.6% renewable, primarily from hydroelectric and wind generation assets located in Brazil, Canada, and Indonesia, and Vale’s new solar project, Sol do Cerrado. These plants meet on average 61% of Vale’s global electricity consumption and 72% of consumption in Brazil, supporting Vale’s goal to use 100% renewable energy in Brazil by 2025 and globally by 2030. Reduce net emission intensity by 35% by 2024, from 2018-2019 baseline NA Conducted climate scenario analysis workshops and energy and emissions diagnostics at each site, completing an initial Scope 3 GHG emissions assessment and developed modeling and data measurement tools to enhance understanding of climate footprint and associated risks and opportunities. Reduce Scope 1 and 2 emissions by 40% by 2031 and by 63% by 2036, from 2021 baseline Achieve net-zero emissions by 2045 In May 2023, as Phase 1 of its decarbonisation plan, Harmony commissioned 30MW of solar power (resulting in a carbon reduction of 62,000t a year), contributing to Harmony’s goal to increase its renewable energy consumption to 25% by 2027. Reduce Scope 1 and 2 carbon emissions by 27.3% by 2025, from 2010 baseline Achieve carbon neutrality for Scope 1 and 2 emissions by 2040 and net-zero emissions by 2050 Five ongoing battery electric vehicle trials company-wide, covering a range of applications in utility, load and haul, and personnel carriers, supporting Sibanye-Stillwater’s goal of 20% renewable energy production by 2030. Reduce Scope 1 and 2 emissions by 30% by 2030, from 2021 baseline Achieve net-zero emissions by 2050 Implementation of technology transition initiatives, such as electrification of material handling equipment (e.g. a trolley-assist system for haul trucks at Detour Lake (expected to result in annual carbon reductions of up to 96 ktCO 2 e; nearly a third of expected direct emissions at Detour Lake)), and increased use of battery electric vehicles and secondary life applications for batteries across Agnico’s operations. Reduce Scope 1 and 2 emissions by 30% by 2030, from 2021 baseline Achieve net-zero emissions by 2050 Tasiast solar plant is expected to provide annualized fuel savings of 17 million litres of heavy oil and approximately 20% of the site’s power. A total of around 88,000 photovoltaic panels will be installed with annualized GHG emissions reductions estimated at 50 kilotonnes CO 2 e, representing approximately 2% of GHG emissions profile.