Message from our CEO 16 Report Highlights About Franco-Nevada Responsible Capital Allocation Due Diligence Process Ongoing Asset Management Key ESG Factors Health and Safety Taskforce on Nature-related Financial Disclosures (“TNFD”) Carbon Footprint The TNFD and related guidance and recommendations are designed to help organizations to report and act on evolving nature-related issues with the Water Management and Risk ultimate aim of supporting a shift in global financial flows away from nature- Tailings Management negative outcomes and toward nature-positive outcomes. The recommendations of the TNFD have been designed to meet the corporate reporting requirements Biodiversity of organizations across jurisdictions, to be consistent with the global baseline Supply Chain for corporate sustainability reporting and to be aligned with the global policy goals in the Kunming-Montreal Global Biodiversity Framework. Community Contributions Jaguars in Vale Biopark in Para, Brazil Although nature-related dependencies, risks and opportunities are not directly applicable to our corporate operations, we carefully monitor the TNFD framework Good Governance and Vale: Northern and Eastern Systems, Brazil for recommended disclosures relating to the projects in which we hold or seek Shareholder Alignment For every hectare altered or impacted by Vale’s Instituto Chico Mendes de Conservação to hold royalty and stream interests. We intend to explore ways in which to operations, it protects 11 hectares, resulting da Biodiversidade (“ICMBio”) for more than incorporate additional TNFD disclosures into our ESG reporting. in the protection of approximately 965,000 30 years, supporting the conservation of Diversity, Inclusion hectares of natural environments in areas approximately 800,000 hectares. In the Two of our Top Mining Producers, Teck and Vale, are early adopters of the and Well-Being of high biodiversity value to date. In addition, Atlantic Forest, Vale supports the conservation TNFD and have committed to start making disclosures aligned with the TNFD Vale has been studying new protection strategies of approximately 180,000 hectares, in areas recommendations in their corporate reporting by their 2024 and 2025 financial Climate Action as part of initiatives aimed at achieving its where Vale operates and through partnerships. years, respectively. An additional three of our Top Mining Producers have disclosed forestry goal to reclaim and protect 500,000 This total includes the Vale Natural Reserve, that they are either a member of the TNFD Forum, a global multi-disciplinary Transparency and hectares of land outside of Vale’s properties which is a Vale property set aside for consultative group of institutions aligned with the TNFD’s mission and principles, by 2030. In 2022, a REDD+ (Reducing conservation and research, as well as the and/or are considering implementing measures in line with the TNFD. Guiding Principles Emissions from Deforestation and Forest Sooretama Biological Reserve, which is a Degradation) project became part of this protected area managed by ICMBio. Together About this ESG Report commitment, contributing to the protection they form the largest remaining block of the of about 50,000 hectares of forest. Atlantic Forest of Espírito Santo, protecting Appendices around 50,000 hectares and harboring In the Amazon, in the region of Carajás, Vale endangered and endemic species. has been working in partnership with the