Table of contents

INTRODUCTION

Message from our President and CEO

Message from our Director of Responsible Investment

About Fengate

2025 Responsible investment highlights

Our firmwide approach to responsible investment

STRATEGIC PILLARS

Overview

Responsible labour

Sustainability and resilience

Reporting and risk management

RESPONSIBLE INVESTMENT IN ACTION

Infrastructure

Private equity

Real estate

LOOKING AHEAD

APPENDIX

ESG metrics

Climate-related disclosures


KEY TERMS AND DEFINITIONS

Responsible investment

Responsible investment (RI) involves considering environmental, social and governance (ESG) issues when making investment decisions and influencing companies or assets (known as active ownership or stewardship) to achieve sustainable outcomes.

ESG

Environmental, social and governance topics that can have an impact on the risk-return profile of an investment, or have a material impact on our stakeholders, communities, and the environment.

Sustainability

Sustainability is the guiding outcome of our Responsible Investment Program by taking a balanced approach to environmental, social, and economic factors to achieve long-term resilient value for our investors, stakeholders, and communities.

ABOUT THIS REPORT

The 2025 Sustainability Report1 discloses relevant information regarding Fengate’s Responsible Investment Program. This report highlights key initiatives we have undertaken over the 2025 period and contains forward-looking statements on our vision and direction. The report covers our three investment strategies – infrastructure, private equity, and real estate, along with our corporate initiatives in the U.S. and Canada. All dollar amounts are in Canadian currency, unless stated otherwise.


FRAMEWORKS

Select content within this report has been developed with reference to, but not fully aligned with, established sustainability reporting frameworks. This includes the Global Reporting Initiative (GRI) Standards, International Financial Reporting Standards (IFRS) Sustainability Disclosure Standards, and International Sustainability Standards Board (ISSB) S2 standards, previously Task Force on Climate-related Financial Disclosures (TCFD). We recognize the importance of these standards in driving transparency and accountability and will continue to refine our approach to further align with evolving best practices.

(1) This report is provided solely for informational purposes, does not promote any business or business interest of Fengate Asset Management, and does not constitute an offer or a solicitation to buy or sell any security, product or service in any jurisdiction.