In terms of our own environmental impact, our carbon footprint is very small. Our workforce, consisting of 43 full-time employees, operates solely within office environments, including at our head office in Toronto in Commerce Court West. Our remaining staff work in office spaces located in Barbados, the United States and Australia. We have advanced the following measures and programs to reduce our carbon footprint and environmental impact: § Since 2019, we have utilized Notice and Access delivery procedures to reduce consumption of paper products 1 ; § At the end of 2023, we installed updated light sensors in our Toronto office to reduce electricity consumption; § In 2025, we completed the installation of a photovoltaic (PV) solar panel system at our Barbados office, which has been fully operational since August 2025. During its first five months of operation, the PV system enabled the Barbados office to meet approximately 92% of its electricity requirements through on - site renewable generation, significantly reducing reliance on purchased electricity. As a result, electricity - related Scope 2 GHG emissions at the Barbados office decreased by approximately 43% compared to the prior year, contributing to an estimated 38% year - over - year reduction in Franco - Nevada’s total corporate Scope 2 emissions from electricity; § In 2025, we formalized a corporate policy to incentivize low-carbon transportation and commuting by our employees, offering reimbursements for sustainable commuting expenses and incentives for zero-emission vehicle purchases or leases; and § Pursuant to our Climate Action Policy, before transacting with any significant suppliers of goods, we ensure that they have in place commitments, plans, targets and initiatives aligned with the goal of net-zero emissions by 2050 or sooner. Corporate Footprint QuadReal Property Group QuadReal Property Group, the manager of Commerce Court West, has established the following science - aligned carbon - reduction targets for its directly managed real estate portfolio: § 2025: Net - zero transition plans in place for the Canadian directly managed portfolio § 2030: 50% absolute carbon - emissions reduction for the Canadian directly managed portfolio, from a 2007 baseline § 2040: All Canadian directly managed office buildings achieve net - zero emissions § 2050: Global directly managed portfolio achieves net - zero emissions Commerce Court West In December 2017, Commerce Court West, the office tower in which our Canadian head office is located, achieved BOMA BEST Platinum certification, the highest level under Canada’s largest environmental assessment and certification program for existing buildings. In 2021, Commerce Court was also recognized by BOMA Canada with The Outstanding Building of the Year (TOBY) Award in the over - one - million - square - feet category. Commerce Court West is certified LEED EB: Operations + Maintenance Platinum, reflecting the ongoing implementation of long - term sustainability practices focused on energy efficiency, resource management and building operations. LEED certification provides a globally recognized framework for the operation of healthy, efficient and lower - carbon buildings and supports continuous improvement in environmental performance. 1 On average, notice-only mailings use much less paper, are faster to produce, and are 90% lighter than full meeting mailpacks (Source: computershare. com/corporate/about-us/esg). Related Policies & Statements § Sustainable Commuting Policy § Climate Action Policy Franco-Nevada Corporation 39