40 Message from our CEO Report Highlights About Franco-Nevada Responsible Capital Allocation Community Contributions Good Governance and Shareholder Alignment Diversity, Inclusion and Well-Being Climate Action Climate Action Commitments and Plans Overall Carbon Footprint Corporate Footprint Investment Footprint Transparency and Guiding Principles About this ESG Report Appendices Carbon Neutral for Corporate Operations We are committed to reducing our footprint. Since 2020, our corporate operations have been carbon neutral and we are committed to achieving this annually going forward. We accomplished this primarily by purchasing high quality carbon offsets to account for emissions we cannot eliminate. * To improve the accuracy of our emission disclosure, commencing in this ESG Report, Scope 3 emissions relating to (1) Business Travel are derived from the International Civil Aviation Organization’s Carbon Emissions Calculator using detailed flight and other data, and (2) Employee Commuting are derived from the Thrust Carbon calculator using detailed data provided by our employees. We have restated Scope 3 emissions relating to Business Travel and Employee Commuting for 2021 (previously 11.5 tCO 2 e and 8.7 tCO 2 e, respectively) and 2022 (previously 37.4 tCO 2 e and 22.2 tCO 2 e, respectively) so that such data is calculated using our new accurate methodology. ** Historically, our Scope 3 emissions attributable to water and wastewater (Scope 3, Category 5) were disclosed on a partial FTE basis (2021 – 88.9%; 2022 – 87.5%) due to unavailability of such data for our United States and Australian offices. Commencing in this ESG Report, we have grossed up these emissions to 100%, which has resulted in a restatement of our Scope 3, Category 5 emissions for 2021 and 2022. 0.0 20.0 40.0 60.0 80.0 100.0 120.0 140.0 160.0 2023 2022 2021 2023 2022 2021 2023 2022 2021 2023 2022 2021 Business Travel* and Employee Commuting Purchased Goods and Services Water and Waste** Total Corporate Scope 3 Emissions Employee Commuting - Car Business Travel - Air Other Purchased Goods and Services Electronics Paper Use Water Waste 7.1 11.3 18.4 17.3 68.3 85.6 18.2 100.6 118.8 1.2 0.4 9.4 11.0 0.8 1.7 0.7 3.4 1.0 4.6 1.7 0.3 2.2 0.4 18.0 20.6 24.3 26.3 31.9 150.7 2.5 4.1 5.6 110.3 Emission Reduction Targets and Initiatives In 2024, we adopted emission reduction targets for our corporate operations, including a 42% reduction of our Scope 1 and 2 emissions by 2030 and a 30% reduction of our overall Corporate Emissions (Scope 1, 2 and 3, excluding financed emissions) by 2030, each from a 2023 base year. We opted to use 2023 as our base year as we believe 2023 marks the first year that our Corporate Emissions have substantially normalized since the COVID-related reduction of emissions (2020-2022). As discussed on page 38 , we have already implemented or have advanced implementation of certain measures and programs to reduce our carbon footprint and achieve our emission reduction targets. Corporate Scope 3 GHG Emissions Our corporate Scope 3 emissions are comprised of estimated GHG emissions associated with work-related travel, employee commuting, purchase and use of office supplies and services (including paper, electronic devices, kitchen supplies and other office goods and services), and water and waste**. The increase of our corporate Scope 3 emissions in 2023 is primarily due to a year-over-year increase in business travel and increased in-office presence resulting in additional employee commuting. Corporate Scope 3 emissions have normalized to pre-COVID levels. For 2023, we offset our global operational emissions by purchasing from Innovate, a Barbados-based supplier of high quality carbon offsets, a combination of certified emission reduction offsets produced from international projects, including projects in Chile and Peru. Appendix H to this ESG Report contains further details regarding our 2023 carbon neutrality. Corporate Scope 3 Emissions (tCO 2 e)