2023 Asset Handbook

2023 Asset Handbook

This Asset Handbook has not been prepared in connection with the sale of securities and is not an offering memorandum and should not be relied upon as such. This Asset Handbook does not constitute an offer to sell or a solicitation for an offer to purchase any security in any jurisdiction. Information relating to projects, properties and their owners and operators presented in this Asset Handbook has been sourced from the public disclosure of the owners and operators of our assets available as at March 9, 2023 (except where stated otherwise). More current information may become available in our subsequent disclosure and on our website. This Asset Handbook contains information about many of our assets, including those that may not currently be material to us. Also, the description and depiction of our business and assets have been simplified for presentation purposes. Dollar references are in U.S. dollars unless otherwise noted. This Asset Handbook should be read with reference to the explanatory notes and cautionary statements contained in the Additional Information section found at the end of this Asset Handbook. Please also refer to the additional supporting information and explanatory notes found in our Annual Information Form (“AIF”), our annual Management’s Discussion & Analysis (“MD&A“), and our Annual Report on Form 40-F available at www.sedar.com and www.sec.gov, respectively, and on our website at www.franco-nevada.com. This Asset Handbook complements but does not form part of such documents. Overview Message to Stakeholders 1 Our History 2 Our Business Model 3 Funding Successful Mines 4 Diversified Portfolio With Low Risk 5 Long-Life Assets 5 Global Assets 6 Asset Portfolio 8 Asset Portfolio 9 Historical Performance 10 Track Record 12 Organic Growth Drivers 13 Royalty Optionality 14 Royalty Ounces 15 Precious Metals Royalty Ounces 16 Diversified Royalty Ounces 17 Royalty Ounces by Mineral Resource, Location and Type 18 Royalty Ounce Growth 18 Environmental, Social and Governance Highlights 19 Precious Metals Assets South America 26 Central America and Mexico 36 United States 40 Canada 53 Rest of World 72 Precious Metals Exploration Assets 83 Diversified Assets Iron Ore 89 Other Mining 93 Diversified (Mining) Exploration Assets 102 Energy Assets 104 Energy Exploration Assets 113 Mineral Resources and Mineral Reserves Gold Mineral Resources 116 Gold Mineral Reserves 117 Mineral Resources and Mineral Reserves 118 Additional Information Asset Counts, Acreage of Assets 122 Mine Life Index 123 Board of Directors 124 Executive Management 126 Corporate Organization 127 Non-GAAP Financial Measures 128 Technical and Third-Party Information 130 Forward Looking Information 131 Glossary 132 Corporate Information 134 Contents

1 Franco-Nevada Corporation TSX / NYSE: FNV Mineral Resources and Mineral Reserves Additional Information Diversified Assets Precious Metals Overview Dear Stakeholders David Harquail, Chair of the Board and Paul Brink, President & CEO at the Cobre Panama Mine, November 2022 We believe combining a lower-risk gold investment, a strong balance sheet and progressive dividends is the right mix to appeal to investors seeking to hedge market instability. Franco-Nevada achieved record revenues in 2022 driven by the sharp run-up in energy prices following the invasion of Ukraine. Our business continued to deliver consistent performance and we generated record Adjusted EBITDA 1 and Adjusted Net Income 1 during the year. Exploration success on our properties continued to fuel our organic growth, with the expansion of the Detour Lake orebody being the most recent highlight. Our shareholders have realized a compound annual growth rate greater than 17% since our initial public offering in late 2007. Earlier this year we made our 16 th consecutive dividend increase and cumulative dividends now exceed US$1.9 billion. At the end of March, our market capitalization was US$28 billion, ranking Franco-Nevada among the largest gold companies in the world. Our shareholders rely on us to allocate capital to responsible mining operations, making ESG a critical part of our transaction due diligence. We also encourage our operators to adopt responsible operating principles and work with them to develop and fund programs to benefit their local communities. Our goal each year is to improve the transparency of our reporting on these initiatives. We are proud to have achieved a “Global 50 Top Rated” ESG score for 2023 from Sustainalytics which places us among a select group of all the companies that Sustainalytics ranks globally. We operate our business with a small team of 40 people and have kept overhead low while our revenue and asset base have grown substantially. Our success is a result of a highly capable team and the guidance of an experienced and engaged Board of Directors. They have a material stake in the business and think like owners. We are delighted by the growing diversity of our team and are confident of achieving our goal of at least 40% diverse representation at the Board and senior management level as a group by 2025. We are convinced of the long-term investment appeal of gold and believe the tapering off of reserve bank rate hikes combined with continued global tensions will be a strong tailwind for gold prices in 2023. Thank you for your ongoing trust and support. David Harquail Paul Brink Chair of the Board President & CEO April 12, 2023 Our diversified portfolio of cash-flow producing assets provides our shareholders exposure to production growth and exploration optionality from high quality mineral and energy deposits in many of the world’s most prospective resource trends. 1 Franco-Nevada Corporation TSX / NYSE: FNV 1 Adjusted EBITDA and Adjusted Net Income are non-GAAP financial measures with no standardized meaning under International Financial Reporting Standards (“IFRS”) and might not be comparable to similar financial measures disclosed by other issuers. Refer to the “Non-GAAP Financial Measures” section starting on page 128 of this Asset Handbook Overview

2 TSX / NYSE: FNV Franco-Nevada Corporation Overview 2 TSX / NYSE: FNV Franco-Nevada Corporation Our History Our Unique Approach We avoid having long-term debt, preferring to have capital to invest when others don’t. The commodity downturn of 2014-2016 forced even the largest global mining companies to repair their balance sheets. We invested US$1.8 billion in those years, creating precious metals streams at some of the world’s largest copper mines – Candelaria, Antamina and Antapaccay – and gaining exposure to longer duration assets than can typically be found in the gold industry. We have not forgotten our roots and continue to invest in smaller development-stage assets which over time have tremendous resource optionality. Our total mining asset count has grown from 190 at IPO to 419 today, including exploration assets on some of the world’s best gold belts. We have invested outside of precious metals when good opportunities have come to market, adding cash flow growth and exposure to the exploration upside on a broad range of world- class resources. In 2011, we acquired royalties on a suite of large copper development projects by acquiring Lumina Royalty. Following the oil price collapse in 2014, we added to our long held Canadian oil and gas royalty interests, investing in the major U.S. basins including the the Permian, SCOOP/ STACK, Marcellus, and Haynesville. Most recently, we added royalty exposure to high grade iron ore at Vale’s Northern and Southeastern systems in Brazil. We believe the depth of our portfolio gives us the latitude to patiently search for exposure to good geology. Our desire is to build the most diverse portfolio of royalties and streams exposed to precious metal prices, but also to exploration success across the world’s greatest mineral belts. Our prospects to put more capital to work in the capital intensive and cyclical resource sector have never been better. Creation of the Royalty Model Franco-Nevada Mining Corporation Limited The history of our business starts with our predecessor company, Franco- Nevada Mining Corporation Limited, founded by Seymour Schulich and Pierre Lassonde. Pierre bought Franco-Nevada’s first royalty in 1986 on the Goldstrike mine in the Carlin Trend. At the time, it was a small heap-leach mine operated by Western States Mining. Shortly thereafter, American Barrick (now Barrick Gold Corporation) purchased Goldstrike and did the deep level exploration that would ultimately reveal a 50 million ounce orebody that drove the success of both Barrick and Franco-Nevada. Pierre and Seymour, assisted by David Harquail, began acquiring royalties in the more prolific gold camps in the world including the Carlin and Getchell trends in Nevada, Timmins and Kirkland Lake camps in Ontario and the Kalgoorlie belt in Australia. They also expanded into PGMs including a royalty on Stillwater in Montana which, along with Goldstrike, stands out as one of their most successful royalty purchases. In the early 1990s as part of their prospect generation model, Franco - Nevada discovered the high-grade Ken Snyder deposit in Nevada. They determined that the deposit had a high enough silver credit to carry all operating costs, creating an effective 100% gold royalty and proceeded to construct the mine. In early 2001, Franco-Nevada sold the mine to Normandy Mining in exchange for 20% of Normandy and a royalty on the mine. Later in 2001, AngloGold made a bid for Normandy. Seeing the potential for a better alternative transaction, Seymour and Pierre struck a deal with Newmont to acquire both Franco-Nevada and Normandy. When the transaction closed in 2002, Franco-Nevada was valued at close to US$3 billion. The IPO Franco-Nevada Corporation (FNV) In 2007, Newmont made the decision to divest its portfolio of royalty assets. Pierre Lassonde, David Harquail and a small team led by management of the original Franco-Nevada, launched an initial public offering on the Toronto Stock Exchange and acquired the royalty portfolio from Newmont for US$1.2 billion. The offering remains the largest mining IPO completed in North America and was the birth of Franco-Nevada Corporation (FNV). The performance of the portfolio of royalties acquired from Newmont has more than justified the price of the IPO. In the past 15 years, the IPO portfolio has paid out over US$2.1 billion in revenue. At the same time, the reserve ounces associated with those same properties has tripled. Key contributors, including Detour Lake and Tasiast, have once again proven the power of the royalty business model and the exploration optionality of being exposed to great geology. Streaming – the New Engine of Growth At the end of 2008, in the depth of the financial crisis, we entered into our first gold streaming agreement with Coeur Mining to complete the construction of the Palmarejo mine in Mexico. Our largest stream transaction to date was a US$1 billion gold and silver streaming commitment to support Inmet’s construction of the giant Cobre Panama project in 2012. A few years later the commitment was expanded to US$1.35 billion with the development of Cobre Panama then in the hands of First Quantum. First Quantum demonstrated its industry-leading project development skill bringing the asset to production in 2019. Franco-Nevada Historical TSX Share Price (US$) (December 31, 2007 – March 31, 2023) – $50 $100 $150 $200 December 31, 2007 Franco-Nevada TSX Share Price (US$) March 31, 2023 Overview

3 Franco-Nevada Corporation TSX / NYSE: FNV Overview Mineral Resources and Mineral Reserves Additional Information Diversified Assets Precious Metals Our Business Model Business Model Advantages Streams Streams have become a mainstream source of capital to mining companies most often to fund the construction of new projects. In particular, streaming precious metals by-product from large copper projects provides a very attractive cost of capital to project developers. Streams are metal purchase agreements where the streamer purchases all or a portion of the gold, silver or other products from a mine in exchange for an upfront payment and an additional payment on each delivery. While streams have similar exploration and price optionality to royalties, they differ from royalties in many respects including the ongoing cash payment required to purchase the physical metal. Royalties Royalties are often 1-2% of the value of future production from a resource property and are typically created as exploration properties change hands. Often royalties are a percentage of the net value a mine operator receives for its product when it is processed at a smelter, hence the term “net smelter return” or “NSR” royalty. Other forms of royalties include profit-related royalties or “NPI” royalties but these are not a major part of Franco-Nevada’s portfolio. Royalty rights are often registered on the title of the property or mineral rights. Registered royalties have strong tenure and, in jurisdictions where recognized, will generally survive an operating company reorganization. As a gold-focused royalty and streaming company, we do not operate mines, develop projects or conduct exploration. Optionality Potential for exploration success on ~66,000 km 2 Free Cash Flow Business Not exposed to capital calls High Margin and Low Overhead Strong cash generation throughout the commodity cycle Focus on Growth Management not occupied with operational decisions Limited Cost Inflation Streams/NSRs not exposed to cost inflation Diversified Portfolio Non-operating business is more scalable We have a unique business that is exposed to both the tremendous resource upside potential, or “optionality” of royalties on gold mines, development projects and exploration properties and the low risk, long life cash flows of precious metals streams on large copper mines. Both royalties and streams provide exposure to commodity prices, increases in production and future discoveries on the property. Neither interest is subject to cash calls to fund exploration, development, capital, environmental or closure costs and so they are lower risk than an operating interest.

4 TSX / NYSE: FNV Franco-Nevada Corporation Overview Overview Funding Successful Mines Project Development Emerging Projects M&A Debt Reduction Royalties and streams provide low-cost and flexible funding for the mining industry. It helps operators reduce the fixed burden of debt and avoid excessive equity dilution, particularly when financing new mine builds. We aim to be a stable and supportive partner through the cycle and to share in the exploration success of the projects that we help fund.

5 Franco-Nevada Corporation TSX / NYSE: FNV Overview Mineral Resources and Mineral Reserves Additional Information Diversified Assets Precious Metals Diversified Portfolio With Low Risk Long-Life Assets Commodity Assets M&I (inclusive) Royalty Ounce Mine Life (Years) Geography Operator Franco-Nevada has the largest and most diversified portfolio of cash flow producing assets. Franco-Nevada’s long resource and reserve life is due largely to its precious metals by-product streams on large copper assets. Gold 55% Silver 11% Gas 11% NGL 2% PGM 4% Iron Ore 4% Other Mining 1% Oil 12% Cobre Panama 17% Candelaria 10% Energy 25% Other 27% Antapaccay 7% Guadalupe 6% Antamina 5% Vale 3% Canada and United States 41% South America 27% Mexico and Central America 23% Rest of the World 9% First Quantum 17% Lundin 10% Vale 3% Other 48% Glencore 7% Coeur 6% Teck 5% Barrick 4% Please refer to page 123 for further information. 2022 Revenue 0 5 10 15 20 25 30 35 2022 2021 34 Years 32 Years

6 TSX / NYSE: FNV Franco-Nevada Corporation Overview Overview Island Gold Sterling Robinson Fire Creek Bald Mountain Marigold EaglePicher Granite Creek (Pinson) Midas Goldstrike Gold Quarry South Arturo Hollister Nevada Cobre Panama Falcondo Castle Mountain Mesquite Courageous Lake Musselwhite Hemlo Greenstone Detour Lake Midale Weyburn Goldfields Monument Bay Edson Timmins West Sudbury Kirkland Lake Golden Highway Canadian Malartic Nevada Stibnite Gold Cariboo SCOOP Midland Orion Dublin Gulch (Eagle) Red Mountain Delaware STACK Franco-Nevada Head Office Franco-Nevada U.S. Office Kivivic 2 Marcellus Guadalupe-Palmarejo Brucejack CentroGold (Gurupi) Cerro Moro Taca Taca NuevaUnión (Relincho) San Jorge Antamina Salares Norte/ Rio Baker Valentine Gold Antapaccay Candelaria Calcatreu Stillwater Cascabel (Alpala) Red Lake (McFinley) Milpillas Haynesville Condestable Carol Lake Vale N. System Vale S.E. System Sossego Posse (Mara Rosa) Eskay Creek Copper World Project Franco-Nevada Barbados Office Caserones Tocantinzinho Magino Global Assets

7 Franco-Nevada Corporation TSX / NYSE: FNV Overview Mineral Resources and Mineral Reserves Additional Information Diversified Assets Precious Metals Our Portfolio 419 Total 113 Producing 45 Advanced 261 Exploration Precious Metals Diversified Precious Metals Diversified Millmerran Red October Henty Mt Keith Duketon Yandal (Bronzewing/Julius) King Vol Bowen Basin South Kalgoorlie (Mt Martin-Loc. 45) Flying Fox Australia Subika (Ahafo) Tasiast Sabodala Edikan MWS Perama Hill Kiziltepe Karma Sissingué Pandora Franco-Nevada Australia Office Agate Creek White Dam Séguéla Edna May Higginsville (Lake Cowan) Aphrodite Matilda (Wiluna) South Kalgoorlie (New Celebration/ Mt Marion Lithium) Cue Gold (Day Dawn) Asset count as of April 12, 2023 (not all assets shown on map including exploration assets) Warrawoona “ A diversified portfolio of 419 assets covering ~66,000 km 2 .”

8 TSX / NYSE: FNV Franco-Nevada Corporation Overview Overview Asset Portfolio Precious Metals “NSR” Net Smelter Return Royalty “GORR” Gross Overriding Royalty “GR” Gross Royalty “ORR” Overriding Royalty “FH” Freehold or Lessor Royalty “NPI” Net Profits Interest “NRI” Net Royalty Interest “WI” Working Interest “P” “Producing” assets are those that have generated revenue from steady-state operations for Franco - Nevada or are expected to in the next year “A” “Advanced” assets are interests on projects which are not yet producing but where, in management’s view, the technical feasibility and commercial viability of extracting a mineral resource are demonstrable “E” “Exploration” assets represent interests on projects where technical feasibility and commercial viability of extracting a mineral resource are not demonstrable Management uses the following criteria in its assessment of technical feasibility and commercial viability: (i) Geology: there is a known mineral deposit which contains Mineral Resources or Mineral Reserves; or the project is adjacent to a mineral deposit that is already being mined or developed and there is sufficient geologic certainty of converting the deposit into Mineral Resources or Mineral Reserves (ii) Accessibility and authorization: there are no significant unresolved issues impacting the accessibility and authorization to develop or mine the mineral deposit, and social, environmental and governmental permits and approvals to develop or mine the mineral deposit appear obtainable Revenue ($ millions) Asset Operator Interest and % (Gold unless otherwise noted) 2022 2021 2020 Notes Precious Metals South America Candelaria Lundin Mining Stream 68% Gold & Silver $125.8 $116.5 $106.8 6, P Antapaccay Glencore Stream (indexed) Gold & Silver 95.2 111.6 118.5 6, P Antamina Teck Resources Stream 22.5% Silver 68.4 94.1 57.0 6, P Condestable Southern Peaks Mining Stream Gold & Silver, Fixed through 2025 then % 7 22.4 22.5 — 6, P Other (21 assets) 6.3 6.2 4.9 Px1, Ax8, Ex12 Central America & Mexico Cobre Panama First Quantum Stream (indexed) Gold & Silver 223.3 235.0 135.4 6, P Guadalupe-Palmarejo Coeur Mining Stream 50% 74.2 83.4 79.0 1, 3, 6, P Other (1 asset) — — 0.5 Ex1 United States Stillwater Sibanye-Stillwater NSR 5% PGM 36.8 57.8 50.9 1, P Goldstrike Nevada Gold Mines NSR 2-4%, NPI 2.4-6% 19.2 25.3 20.7 1, 2, P Gold Quarry Nevada Gold Mines NSR 7.29% 4.9 7.5 10.7 1, 3, P Marigold SSR Mining NSR 1.75-5%, GR 0.5-4% 7.5 8.5 7.1 1, 2, 3, 4, P Bald Mountain Kinross Gold NSR/GR 0.875-5% 8.4 11.2 11.2 1, 2, 3, 4, P Other (36 assets) 9.5 12.5 12.2 Px5, Ax6, Ex25 Canada Detour Lake Agnico Eagle Mines NSR 2% 26.3 25.3 20.4 P Sudbury KGHM International Stream 50% PGM & Gold 21.4 17.4 40.1 1, 6, Px2 Hemlo Barrick Gold NSR 3%, NPI 50% 28.2 27.6 69.9 1, 5, P Brucejack Newcrest Mining NSR 1.2% 5.8 7.0 7.2 1, P Kirkland Lake Agnico Eagle Mines NSR 1.5-5.5%, NPI 20% 5.5 5.8 5.4 2, 3, P Other (75 assets) 10.4 10.3 12.3 Px5, Ax14, Ex56 Rest of World MWS Harmony Gold Mining Stream 25% 39.2 41.3 41.8 6, P Sabodala Endeavour Mining Stream 6%, Fixed to 105,750 oz 8 16.8 16.7 21.6 3, 6, P Tasiast Kinross Gold NSR 2% 18.3 6.7 14.3 P Subika (Ahafo) Newmont NSR 2% 18.0 11.6 10.4 1, P Karma Néré Mining Stream 4.875% 3.3 9.9 28.9 6, P Duketon Regis Resources NSR 2% 10.7 11.1 9.6 1, P Other (74 assets) 13.9 12.9 14.0 Px10, Ax10, Ex54 Revenue – Precious Metals $919.7 $995.7 $910.8 Notes:

9 Franco-Nevada Corporation TSX / NYSE: FNV Overview Mineral Resources and Mineral Reserves Additional Information Diversified Assets Precious Metals Asset Portfolio Diversified 1 Does not cover all the Mineral Resources or Mineral Reserves reported for the property by the operator 2 Percentage varies depending on the claim block of the property 3 Provides for minimum or advance payments 4 Percentage varies depending on the commodity price or value of ore 5 Payable after operator recovers defined exploration and development expenses 6 These revenue numbers are before the deduction of the purchase cost per ounce 7 8,760 oz Au & 291,000 oz Ag per year until December 2025; then, 63% Au & Ag until 87,600 oz Au & 2,910,000 oz Ag delivered, respectively; thereafter, 25% Au & Ag 8 Sabodala agreement was amended with an effective date of September 1, 2020 9 Net sales royalty attributable to FNV Royalty holding on certain properties and subject to certain thresholds. Copper/Gold rate applies to Sossego at 50% given its previous joint venture ownership 10 GORR and IOC equity interest attributable to FNV 9.9% equity ownership of Labrador Iron Ore Royalty Corporation Revenue ($ millions) Asset Operator Interest and % 2022 2021 2020 Notes Diversified Vale Vale 0.264% Iron Ore, 0.367% Copper/Gold, 0.147% Other 9 $40.7 $59.4 $ — Px3, Ex1 LIORC Rio Tinto GORR 0.7% Iron Ore, IOC Equity 1.5% 10 14.8 30.2 14.7 P Other Mining (102 assets) 6.9 5.2 3.1 Px10, Ax7, Ex85 United States (Energy) Marcellus Range Resources GORR 1% 56.5 36.1 20.4 P Haynesville Various Various Royalty Rates 72.9 38.5 4.2 P SCOOP/STACK Various Various Royalty Rates 57.8 36.4 21.6 Px3 Permian Basin Various Various Royalty Rates 52.6 35.0 18.5 Px2 Other (2 assets) 0.3 0.2 0.1 Px1, Ex1 Canada (Energy) Weyburn Unit Whitecap Resources NRI 11.71%, ORR 0.44%, WI 2.56% 65.0 43.8 16.0 Px3 Orion Strathcona Resources GORR 4% 15.1 10.8 5.9 P Other (69 assets) 13.4 8.7 5.0 Px43, Ex26 Revenue – Diversified $396.0 $304.3 $109.5 Total Revenue (Precious Metals + Diversified) $1,315.7 $1,300.0 $1,020.3

10 TSX / NYSE: FNV Franco-Nevada Corporation Overview Overview (in millions, except GEOs, Total Shareholders’ Equity, Market Capitalization, and per share amounts) 2022 3 2021 3 2020 3 2019 3 2018 3 2017 3 GEOs 1 sold (000s) 730.0 728.2 573.3 598.4 516.6 537.7 Revenue $ 1,315.7 $ 1,300.0 $ 1,020.2 $ 844.1 $ 653.2 $ 675.0 Operating Income $ 820.7 $ 860.7 $ 336.5 $ 410.2 $ 188.8 $ 235.4 Net Income (Loss) $ 700.6 $ 733.7 $ 326.2 $ 344.1 $ 139.0 $ 194.7 Basic Earnings (Loss) per share $ 3.66 $ 3.84 $ 1.71 $ 1.83 $ 0.75 $ 1.06 Adjusted Net Income 2 $ 697.6 $ 673.6 $ 516.3 $ 341.5 $ 217.0 $ 198.3 Adjusted Net Income 2 per share $ 3.64 $ 3.52 $ 2.71 $ 1.82 $ 1.17 $ 1.08 Adjusted EBITDA 2 $ 1,106.9 $ 1,092.3 $ 839.6 $ 673.4 $ 519.6 $ 516.1 Adjusted EBITDA 2 per share $ 5.78 $ 5.72 $ 4.41 $ 3.59 $ 2.79 $ 2.82 Dividends and DRIP Paid $ 245.8 $ 221.4 $ 197.2 $ 187.0 $ 177.8 $ 167.9 Dividends Paid per share $ 1.28 $ 1.16 $ 1.03 $ 0.99 $ 0.95 $ 0.91 Working Capital 4 $ 1,332.9 $ 708.2 $ 610.5 $ 225.3 $ 153.5 $ 593.8 Debt $ Nil $ Nil $ Nil $ 80.0 $ 207.6 $ Nil Total Shareholders’ Equity $ 6.4B $ 6.0B $ 5.4B $ 5.1B $ 4.6B $ 4.7B Market Capitalization 5 $ 26.1B $ 26.5B $ 23.9B $ 19.6B $ 13.1B $ 14.9B Historical Performance 2022 – 2008 1 Starting in Q4 2021, revenue from Franco-Nevada’s Energy assets are included in the calculation of Gold Equivalent Ounces (“GEOs”). GEOs for comparative periods have been recalculated to conform with the current presentation. GEOs include Franco-Nevada’s attributable share of production from our Mining and Energy assets, after applicable recovery and payability factors. GEOs are estimated on a gross basis for NSR royalties and, in the case of stream ounces, before the payment of the per ounce contractual price paid by the Company. For NPI royalties, GEOs are calculated taking into account the NPI economics. Silver, platinum, palladium, iron ore, oil, gas and other commodities are converted to GEOs by dividing associated revenue, which includes settlement adjustments, by the relevant gold price. The price used in the computation of GEOs earned from a particular asset varies depending on the royalty or stream agreement, which may make reference to the market price realized by the operator, or the average price for the month, quarter, or year in which the commodity was produced or sold. 2 Adjusted Net Income, Adjusted Net Income per share, Adjusted EBITDA, and Adjusted EBITDA per share are non-GAAP financial measures with no standardized meaning under International Financial Reporting Standards (“IFRS”) and might not be comparable to similar financial measures disclosed by other issuers. Refer to the “Non-GAAP Financial Measures” section starting on page 128 of this Asset Handbook. 3 Fiscal years 2010 through 2022 were prepared in accordance with IFRS. Fiscal years 2008 and 2009 were prepared in accordance with Canadian GAAP. Comparative information has been adjusted to conform to current presentation. 4 The Company defines Working Capital as current assets less current liabilities. 5 As at December 31. Gold Equivalent Ounces Sold 1 (000s) Revenue (US$ millions) Adjusted EBITDA 2 (US$ millions) – 100 200 300 400 500 600 700 800 22 21 20 19 18 17 16 15 14 13 12 11 10 09 08 – 300 600 900 1,200 $1,500 22 21 20 19 18 17 16 15 14 13 12 11 10 09 08 – 200 400 600 800 1,000 $1,200 22 21 20 19 18 17 16 15 14 13 12 11 10 09 08

11 Franco-Nevada Corporation TSX / NYSE: FNV Overview Mineral Resources and Mineral Reserves Additional Information Diversified Assets Precious Metals 2016 3 2015 3 2014 3 2013 3 2012 3 2011 3 2010 3 2009 3 2008 3 488.5 384.5 351.6 290.4 254.7 260.6 185.4 158.2 167.8 $ 610.2 $ 443.6 $ 442.4 $ 400.9 $ 427.0 $ 411.2 $ 227.2 $ 199.7 $ 151.0 $ 155.4 $ 51.3 $ 155.8 $ 77.7 $ 146.7 $ 45.5 $ 87.3 $ 87.4 $ 38.1 $ 122.2 $ 24.6 $ 106.7 $ 11.7 $ 102.6 $ (6.8) $ 62.7 $ 80.9 $ 40.3 $ 0.70 $ 0.16 $ 0.71 $ 0.08 $ 0.72 $ (0.05) $ 0.55 $ 0.76 $ 0.41 $ 164.4 $ 88.9 $ 137.5 $ 138.3 $ 171.0 $ 136.0 $ 52.1 $ 32.0 $ 43.7 $ 0.94 $ 0.57 $ 0.91 $ 0.94 $ 1.19 $ 1.08 $ 0.46 $ 0.30 $ 0.48 $ 489.1 $ 337.1 $ 356.0 $ 319.9 $ 347.5 $ 327.3 $ 180.0 $ 119.4 $ 127.2 $ 2.79 $ 2.37 $ 2.18 $ 2.43 $ 2.61 $ 1.58 $ 1.12 $ 1.30 $ 2.15 $ 156.8 $ 129.0 $ 118.0 $ 104.4 $ 77.9 $ 49.2 $ 33.3 $ 28.2 $ 21.8 $ 0.87 $ 0.83 $ 0.78 $ 0.72 $ 0.54 $ 0.32 $ 0.29 C$ 0.28 C$ 0.24 $ 323.6 $ 253.9 $ 677.8 $ 861.2 $ 822.4 $ 851.1 $ 572.7 $ 530.7 $ 239.1 $ Nil $ 457.3 $ Nil $ Nil $ Nil $ Nil $ Nil $ Nil $ Nil $ 4.1B $ 3.2B $ 3.4B $ 3.0B $ 3.1B $ 2.8B $ 2.0B $ 1.9B $ 1.4B $ 10.7B $ 7.2B $ 7.7B $ 6.0B $ 8.3B $ 5.3B $ 3.8B $ 3.2B $ 1.7B Market Capitalization 5 (US$ billions) G&A as % of Market Capitalization Adjusted Net Income Per Share 2 (US$ per share) – 5 10 15 20 25 $30 22 21 20 19 18 17 16 15 14 13 12 11 10 09 08 – 0.2 0.4 0.6 0.8 1.0% 22 21 20 19 18 17 16 15 14 13 12 11 10 09 08 – 0.5 1.0 1.5 2.0 2.5 3.0 3.5 $4.0 22 21 20 19 18 17 16 15 14 13 12 11 10 09 08

12 TSX / NYSE: FNV Franco-Nevada Corporation Overview Overview -5% 0% 5% 10% 15% 20% NASDAQ S&P 500 Gold Bullion ETF Barclays US Aggregate Bond Franco-Nevada (FNV) US$ basis GDX (index of mostly gold miners) Track Record CAGR Since FNV Inception 1, 2, 3 1-Year 2-Year 5-Year Since FNV Total Return Total Return Total Return Inception 1 Franco-Nevada (US$) 2 (7.7%) 8.8% 17.5% 17.4% NASDAQ (13.3%) (3.2%) 12.6% 11.8% S&P 500 (7.8%) 3.3% 11.2% 9.2% Gold Bullion ETF 3 1.4% 7.0% 7.8% 5.7% Barclays US Aggregate Bond 4 (4.8%) (4.5%) 0.9% 2.8% GDX (index of mostly gold miners) (14.2%) 1.5% 9.1% (1.0%) Note: Total return assumes reinvestment of dividends over designated period Source: TD Securities; Bloomberg 1 Compounded annual total returns from December 20, 2007 to March 31, 2023 2 Since FNV inception returns in US$ are calculated assuming an initial cost of US$15.21 (based on an IPO price of C$15.20 and CAD/USD of 1.0009 on December 20, 2007). All other index returns are in US$ 3 SPDR Gold Trust 4 Bloomberg Barclays US Aggregate Bond Index “ Since its IPO in 2007, Franco-Nevada has outperformed all the relevant benchmarks.” 1 FNV Inception - December 20, 2007 2 Compounded annual total returns to March 31, 2023 3 Source: TD Securities; Bloomberg

13 Franco-Nevada Corporation TSX / NYSE: FNV Overview Mineral Resources and Mineral Reserves Additional Information Diversified Assets Precious Metals 2023 2024 2025 2026 2027 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Magino Ontario Séguéla Côte d'Ivoire Salares Norte Chile Yandal/Bronzewing Australia Greenstone Ontario Posse (Mara Rosa) Brazil Tocantinzinho Brazil Valentine Gold Newfoundland Eskay Creek British Columbia Stibnite Gold Idaho Copper World Project Arizona 1 2023 Guidance and 2027 Outlook as published on March 15, 2023 in Franco-Nevada’s 2022 Annual Report. Assuming: $1,800/oz Au, $21/oz Ag, $900/oz Pt, $1,500/oz Pd, $120/tonne Fe 62% CFR China, $80/bbl WTI oil and $3.00/mcf Henry Hub natural gas 2 Expansion periods are based on operators’ indicated period of ramp-up 3 Indicated start periods are based on operators’ guidance and FNV best estimates Organic Growth Drivers The ongoing Cobre Panama expansion is expected to be the largest growth driver through the period. That growth is expected to be complemented by a combination of mine expansions and a number of new mines commencing production. Over the last 15 years, Franco-Nevada's GEOs have grown over four times both through organic expansions and acquisitions. We have a strong pipeline of opportunities to add further growth through acquisitions. 2023 2024 2025 2026 2027 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Cobre Panama Panama Subika Ghana Tasiast Mauritania Vale Brazil Detour Lake Ontario Kirkland Gold Ontario Island Gold Ontario Stillwater Montana Our guidance 1 is for total GEO sales of 640,000 to 700,000 GEOs in 2023 growing to 760,000 to 820,000 GEOs by 2027 through organic growth alone. Expansions 2 New Mines Estimated Start 3

14 TSX / NYSE: FNV Franco-Nevada Corporation Overview Overview 1 Calculation includes depletion 2 Total ounces associated with top 37 assets at IPO. Total ounces are not the same as Franco-Nevada Royalty Ounces. All Mineral Reserves have been calculated in accordance with CIM or acceptable foreign codes for the purposes of NI 43-101, including S-K 1300, SEC Industry Guide 7, JORC, or SAMREC guidelines 3 Revenue from original FNV portfolio includes gold, platinum and palladium revenue as at December 31, 2022 Royalty Optionality In particular, we have royalties on the next generation copper assets: Cascabel (Alpala) in Ecuador, Copper World Project in Arizona, Taca Taca in Argentina, and NuevaUnión and Vizcachitas both in Chile. We also have royalties that cover much of the Ring of Fire in Northern Ontario which hosts some of the world’s largest chromite resources, along with nickel, copper and gold deposits. Another asset with large scale potential is the Crawford nickel deposit that is being delineated in Ontario. We profile all these assets in this Asset Handbook, although the profiles are not exhaustive. In addition to the profiled assets, we have another 253 exploration assets which are listed on pages 83-85 and pages 102-103. There is no doubt there will be more discoveries in the coming years from the ~66,000 km 2 that our portfolio covers across the best mineral trends in the world. The optionality value of the portfolio is difficult to measure. The example below, however, gives an indication of how this optionality has played out historically. Numerous exploration and development stage assets are expected to drive long-term growth. 0 20 40 60 80 100 120 2022 2008 – 2022 2007 Gold Reserves 2 at time of IPO Proven and Probable Mineral Reserves (Moz) >45 Moz gold produced $1.2 billion paid for portfolio at IPO Gold Reserves 2 of same assets as reported December 2022 Reserves increase at no cost >$2.1 billion 3 revenue to Franco-Nevada from portfolio >3.5x increase 1

15 Franco-Nevada Corporation TSX / NYSE: FNV Overview Mineral Resources and Mineral Reserves Additional Information Diversified Assets Precious Metals Royalty Ounces 4. An asset producing silver, PGM or base/bulk metal: The number of attributable silver, platinum or palladium ounces, and attributable base/bulk metals pounds/tonnes are converted into Royalty Ounces. This year’s pricing assumptions for conversion include: $1,800 per ounce gold, $21.00 per ounce silver, $900 per ounce platinum, $1,500 per ounce palladium, $4.00 per pound copper, $11.00 per pound nickel, $1.22 per pound ferrochrome and $120/t Fe 62% CFR China for our calculations. For copper, nickel, ferrochrome and iron ore Royalty Ounce calculations, we do reflect deductions for processing and refining as they are more material compared to a typical gold NSR asset. In the Assets section of this Asset Handbook, we provide details for each asset that include summary figures for the Mineral Resources (M&I Resources inclusive of P&P Reserves), Mineral Reserves (P&P Reserves) and Inferred Mineral Resources (Inferred Resources). We also provide the related M&I Royalty Ounces, P&P Royalty Ounces and Inferred Royalty Ounces for each of those assets and the key guidance and assumptions that were required to derive those Royalty Ounces. Readers are cautioned that the Royalty Ounces are prepared by the management of Franco-Nevada and have not been reviewed or endorsed by the operators of the projects. Why We Measure “Royalty Ounces” Franco-Nevada’s mining properties that have reported Mineral Resources and Mineral Reserves are tabulated in the Mineral Resources and Mineral Reserves appendix of this Asset Handbook. Unless otherwise noted in the Royalty Ounce calculation for each asset, the figures are tabulated based on the publicly disclosed reports of each operator for each property on a 100% basis. However, the tabulation does not provide a specific measure for Franco-Nevada’s interest in such Mineral Resources and Mineral Reserves for the following reasons: • Royalty and stream interests have different economics than an operator has for its stated Mineral Resources and Mineral Reserves. In addition, the economics differ between NSR, NPI and stream interests • Some assets do not cover the entire property associated with the operator’s publicly reported figures To account for the above, we calculate “Royalty Ounces” to estimate the value attributable to Franco-Nevada due to our economic interest in the Mineral Resources and Mineral Reserves of our portfolio. The value of a Royalty Ounce is normalized to that of a gold NSR ounce. How We Estimate “Royalty Ounces” A traditional NSR royalty on a gold mining property provides Franco- Nevada with a simple percentage of the revenue or gold in-kind produced from that property. For example, if we have a 2% NSR royalty on a property, we calculate 2% of the stated Mineral Resources and Mineral Reserves as our “Royalty Ounces”. Note we do not make adjustments for recoveries and refining fees for gold NSRs as they are typically minor. When calculating Royalty Ounces for a property our objective is that they should be comparable to an attributable gold NSR Royalty Ounce. To achieve comparable Royalty Ounce figures, we make adjustments in the following circumstances: 1. The royalty or stream does not cover all the Mineral Resources or Mineral Reserves on a property: We provide our best estimate of the percentage of Mineral Resources and Mineral Reserves that are attributable to our interest. 2. A stream interest with an associated ongoing cost per ounce: The number of attributable stream ounces are factored to make them economically equivalent to a NSR ounce. For example as illustrated on this page, at an $1,800 per ounce gold price and a $400 cost per ounce, the stream ounces are factored by 77.8%. The factor depends on cost per ounce or the percentage margin written in the agreement. 3. A NPI royalty: A NPI is subject to the operating and capital costs specific to each asset. We generate our own internal mine life projections for each asset to determine a reasonable estimate of the economic equivalent of a gold NSR Royalty Ounce using an $1,800 gold price assumption. Developed NSR Stream NPI or WI 1 One ounce sold at $ 1,800 $ 1,800 $ 1,800 Applicable cost $ – $ 400 1 $ 1,222 1 Margin for calculation $ 1,800 $ 1,400 $ 578 NSR, Stream or NPI % 4% 4% 4% Revenue per ounce to FNV $ 72 $ 56 $ 23 Value relative to an NSR 1.0x 0.78x 0.32x 1 Franco-Nevada’s streams have various ongoing costs. In some cases, it is $400 per ounce plus a 1% annual increment, in other cases it is 20% of the spot price of gold. For each stream, Franco-Nevada indicates the detail for ongoing costs. 2 For applicable costs for a developed NPI or WI, Franco-Nevada is, for illustrative purposes, assuming Barrick Gold Corporation’s (“Barrick”) 2022 all-in sustaining cash cost measure, as Barrick is the operator of two assets at which Franco-Nevada has NPI interests. Example Economics of a Royalty (NSR or NPI) versus a Stream The example below compares the relative value per ounce to Franco- Nevada of an NSR, a stream or an NPI or WI. Assume for one ounce of gold, a sales price of $1,800, a “stream cost” 1 of $400 per ounce and that the “all-in sustaining cost” 2 of the mine is $1,222 per ounce.

16 TSX / NYSE: FNV Franco-Nevada Corporation Overview Overview Precious Metals Royalty Ounces 1, 2 Asset Asset Type P&P (000s) M&I 4 (000s) Inf (000s) South America Candelaria Stream 746 1,456 115 Antapaccay Stream 397 786 36 Antamina Stream 153 528 531 Condestable Stream 97 164 87 Tocantinzinho Stream 204 210 5 Cerro Moro NSR 14 17 6 Salares Norte NSR 39 45 2 Cascabel (Alpala) 3 NSR 233 724 91 Posse (Mara Rosa) NSR 9 12 – CentroGold (Gurupi) NSR 11 17 6 Calcatreu NSR – 17 9 San Jorge NSR – 91 4 Central America and Mexico Cobre Panama Stream 4,532 4,758 750 Guadalupe-Palmarejo Stream 241 535 102 United States Stillwater NSR 879 1,316 1,497 Carlin Trend NSR/NPI 171 324 94 Marigold NSR 86 126 6 Bald Mountain NSR 22 101 11 Mesquite NSR 9 34 17 Castle Mountain NSR 110 149 38 Fire Creek/Midas NSR – 2 84 Hollister NSR – 2 8 Stibnite Gold NSR 82 107 27 Mountain View NSR – – 5 Canada Detour Lake NSR 414 773 23 Sudbury Stream 24 24 – Hemlo NSR/NPI 65 137 22 Brucejack NSR 47 86 37 Kirkland Lake NSR/NPI 29 63 58 Dublin Gulch (Eagle) NSR 24 43 5 Musselwhite NPI 31 39 7 Timmins West NSR 12 15 1 Canadian Malartic NSR 5 25 28 Magino NSR 49 80 11 Island Gold NSR 8 9 19 Greenstone NSR 166 210 92 Valentine Gold NSR 40 59 17 Golden Highway – Holt Complex NSR – 131 86 Golden Highway – Hislop NSR – 7 4 Golden Highway – Aquarius NSR – 22 – Eskay Creek NSR 56 78 3 Spences Bridge (Shovelnose) NSR – 16 5 Red Lake (McFinley) NSR 1 5 3 Courageous Lake NSR 66 82 40 Goldfields NSR – 20 4 Monument Bay NSR – 44 53 Red Mountain NSR 5 8 1 Fenelon-Martiniere NSR – 37 30 Marathon (Sally) NSR – 7 3 1 For information regarding the calculation of each Royalty Ounce, please refer to the individual asset sections. We have assumed $1,800/oz Au, $21/oz Ag, $900/oz Pt, $1,500/oz Pd, $4.00/lb copper, $11.00/lb nickel, $1.22/lb ferrochrome and $120/t Fe 62% CFR China for our calculations 2 Metallurgical deductions have not been made to the Mineral Resources and Mineral Reserves shown in order to estimate metal produced 3 Copper Royalty Ounces assume NSR deductions of 15% (for Sossego please refer to the Vale asset section); Nickel Royalty Ounces and Ferrochrome Royalty Ounces assume NSR deductions of 30%. Please also refer to the individual Vale (Northern & Southeastern System) & LIORC asset sections for the deductions applied to the Iron Ore Royalty Ounces 4 M&I Royalty Ounces include P&P Royalty Ounces

17 Franco-Nevada Corporation TSX / NYSE: FNV Overview Mineral Resources and Mineral Reserves Additional Information Diversified Assets Precious Metals Asset Asset Type P&P (000s) M&I 4 (000s) Inf (000s) Rest of World MWS Stream 38 38 – Sabodala Stream 67 120 32 Tasiast NSR 115 145 29 Subika (Ahafo) NSR 76 78 14 Karma Stream 6 74 26 Duketon NSR 25 71 16 Edikan NSR 20 28 4 Matilda (Wiluna) NSR 51 128 71 South Kalgoorlie NSR 7 19 14 Kiziltepe NSR 2 3 2 Sissingué NSR – 1 – Pandora NPI 22 193 24 Yandal (Bronzewing) NSR 19 37 4 Aphrodite NSR 8 29 13 Rebecca NSR – 15 3 Séguéla NSR 13 19 12 Perama Hill NSR 25 27 16 Aği Daği NSR 23 44 6 Precious Metals Royalty Ounces 9,594 14,610 4,369 Diversified Royalty Ounces 1, 2 Mining 3 Vale (Northern and Southeastern System) Other 1,002 1,376 84 Sossego Other 4 4 – LIORC Other 185 332 139 NuevaUnión (Relincho) NSR 286 399 163 Taca Taca NSR 403 490 112 Caserones NSR 59 93 – Falcondo NPI 103 116 8 Copper World Project NSR – 412 83 Robinson NSR 6 20 1 Ring of Fire NSR – 203 58 Eagle's Nest NSR 20 22 16 Crawford NSR – 656 292 Mt Keith NSR/NPI 23 51 6 Diversified Royalty Ounces 2,092 4,176 961 Total Royalty Ounces 11,686 18,786 5,330 Refer to footnotes on page 16 Compared to a gold exchange traded product, an investment in Franco-Nevada provides the opportunity to acquire gold exposure at a discount, along with the benefits of a meaningful yield and gold exploration optionality. Assuming $2,000 per ounce gold price implies an undiscounted value of $23.4 billion for our attributable Mineral Reserve Royalty Ounces and $37.6 billion for our attributable M&I (inclusive) Mineral Resource Royalty Ounces. By contrast, our market capitalization at March 31, 2023 was $28.0 billion. We do not calculate Royalty Ounces for our energy assets, comprised principally of oil and gas assets. In 2022, these assets comprised 25% of Franco- Nevada’s overall revenue. Furthermore, we only estimate Royalty Ounces on our 84 most material mining projects. There are a further 253 advanced and exploration projects not included in the estimates that add considerable optionality for further ounces in the future. Our experience is that each year some of these projects will advance enough to be included as Royalty Ounces. The value of a Royalty Ounce takes into account the costs associated of an ounce. Costs that are not deducted are income tax expenses (10% of revenue in 2022) and general and administrative expenses (2.5% of revenue in 2022). $37.6 billion in undiscounted Value of M&I Mineral Resource Royalty Ounces

18 TSX / NYSE: FNV Franco-Nevada Corporation Overview Overview Royalty Ounces by Mineral Resource, Location and Type Royalty Ounce Growth Royalty ounces represent cost-free ounces to Franco-Nevada. The following chart shows the Royalty Ounce growth over the last 10 years. 1 M&I Royalty Ounces include P&P Royalty Ounces Royalty Ounces by Mineral Resource Category M&I Royalty Ounces 1 by Location M&I Royalty Ounces 1 by Type P&P 49% M&I 29% Inferred 22% South America 34% Central America and Mexico 29% United States 14% Canada 17% Rest of World 6% NSR 42% Stream 46% NPI 3% Other 9% 0 5 10 15 20 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 Royalty Ounces (millions) P&P Royalty Ounces Exclusive M&I Royalty Ounces

19 Franco-Nevada Corporation TSX / NYSE: FNV Overview Mineral Resources and Mineral Reserves Additional Information Diversified Assets Precious Metals Environmental, Social and Governance Highlights Franco-Nevada’s 2022 environmental, social and governance (“ESG”) highlights are described in our 2023 ESG Report, which is available on our website, and are summarized below. Due diligence to invest in strong ESG performers Our principal ESG-related focuses when making investments are highlighted in our 2023 ESG Report, including health and safety, carbon footprints, water management and risk, tailings management and biodiversity. We have also assessed how the operators of our top revenue-generating assets have performed in each of these five categories. Furthered diverse representation and diversity initiatives We increased the diverse representation in our global workforce, with 43% of senior mangement and 60% of our overall team comprised of diverse persons. We have also expanded our Board diversity targets with the new goal of having, by 2025, at least one diverse director on grounds broader than gender diversity. The number of Franco-Nevada Diversity Scholarship awards were increased in 2022 and made several diversity-related donations and contributions, including in furtherance of our BlackNorth Initiative pledge and our support of The Prosperity Project. New climate action policy and net-zero goals and commitments We have adopted a Climate Action Policy, which sets out our goal to achieve net-zero GHG emissions by 2050 at our corporate workplaces and the measures we will take to further this goal, including measuring and disclosing our corporate GHG emissions, adopting science-based GHG emission reduction targets, and providing annual updates on our progress. We also commit to evaluate the decarbonization commitments, plans, targets and initiatives of operators and operations, including their alignment with net-zero, when making investment decisions and to engage with existing partners on their plans and progress toward net-zero. Increased community contributions and commitments Our community contributions funded increased year-over-year, including our renewed Enseña Peru funding and the Alto Huarca water project, among other initiatives. During the year, we made new commitments with G Mining Ventures and Argonaut Gold to partner in community initiatives near their operations where we invested in 2022. We continue to support mining industry groups and diversity initiatives. Focus on employee well-being and accommodations Maintaining a safe and supportive environment for our global workforce is a top priority for Franco-Nevada. Our 2023 ESG Report highlights the efforts made by our organization to promote the physical and mental well-being of our employees, including providing hybrid work arrangements, health benefits, wellness allowances, accommodations for cultural and religious beliefs, and the ability to disconnect when not working. Financed emissions are included in Scope 3 emissions We have measured and disclosed financed GHG emissions attributable to our royalty and stream interests. Financed GHG emissions were calculated in alignment with the Greenhouse Gas Protocol reporting standards and included as Scope 3, Category 15 (Investments) emissions. In our 2023 ESG Report, we include a primer for navigating the Greenhouse Gas Protocol standards, including what comprises Scope 1, 2 and 3 emissions. Sandip Rana, Chief Financial Officer (left) and Lloyd Hong, Chief Legal Officer (right) Enseña Peru initiative, Peru Continental Resources’ solar panels at West Blaine recycling facility, which Franco-Nevada is helping to finance

20 TSX / NYSE: FNV Franco-Nevada Corporation Overview Overview Initiatives aligned with UN Sustainable Development Goals Initiatives across our business help advance a number of the Sustainable Development Goals (SDGs), which were adopted by the United Nations in 2015 as a universal call to action to end poverty, protect the planet, and ensure that by 2030 all people enjoy peace and prosperity. Continued high rankings and recognition from ESG rating agencies We continue to receive recognition for our ESG efforts and rank highly with top ESG rating agencies, including 2022 ratings of “AA” by MSCI and “Prime” by ISS ESG. In 2022, we were also included as one of Corporate Knight’s Best 50 Corporate Citizens in Canada. We recently received a “Global 50 Top-Rated” ESG score for 2023 from Sustainalytics, which places us among a select group of all the companies that Sustainalytics ranks globally. Maintained carbon neutrality for corporate emissions Since 2020, we have maintained carbon neutrality for our office operations. We have accomplished this, and will continue to do so through the reduction of our corporate GHG emissions and the purchase of high quality carbon credits to offset emissions that cannot be eliminated. Alignment of ESG reporting with TCFD and SASB and first-alignment with the GRI standards Our ESG disclosure is aligned with leading reporting frameworks, including the Sustainability Accounting Standards Board (SASB) and the Task Force on Climate-Related Financial Disclosures (TCFD) frameworks. Our 2023 ESG Report also includes first-time reporting in line with the Global Reporting Initiative (GRI) standards. Commerce Court West, Toronto Environmental, Social and Governance Highlights (continued)

21 Franco-Nevada Corporation TSX / NYSE: FNV Overview Mineral Resources and Mineral Reserves Additional Information Diversified Assets Precious Metals Environmental, Social and Governance Highlights (continued) Frameworks and Standards Guiding Principles Ratings and Recognition Global 50 Top Rated by Sustainalytics in 2023 Responsible Gold Mining Principles United Nations Global Compact Sustainable Development Goals Task Force on Climate-related Financial Disclosures (TCFD) Sustainability Accounting Standards Board (SASB) Global Reporting Initiative (GRI) Best 50 Corporate Citizens in Canada in 2022 “B-“ CDP score in 2022 Rated “AA” by MSCI in 2022 Rated “Prime” by ISS ESG in 2022 The use by Franco-Nevada Corporation of any MSCI ESG Research LLC or its affiliates (“MSCI”) data, and the use of MSCI logos, trademarks, service marks or index names herein, do not constitute a sponsorship, endorsement, recommendation, or promotion of Franco-Nevada Corporation by MSCI. MSCI services and data are the property of MSCI or its information providers, and are provided ‘as-is’ and without warranty. MSCI names and logos are trademarks or service marks of MSCI.

22 TSX / NYSE: FNV Franco-Nevada Corporation Overview

Mineral Resources and Mineral Reserves Additional Information Diversified Assets Precious Metals Precious Metals Precious Metals

24 TSX / NYSE: FNV Franco-Nevada Corporation Overview Overview Precious Metals Precious Metals/Diversified Assets Index – Regional South America 26 Candelaria (Au & Ag) 27 Antapaccay (Au & Ag) 28 Antamina (Ag) 29 Condestable (Au & Ag) 30 Tocantinzinho (Au) 31 Cerro Moro (Au & Ag) 32 Salares Norte (Au & Ag) 33 Cascabel (Alpala) (Au, Cu, Ag) 34 Posse (Mara Rosa) (Au & Ag) 35 CentroGold (Gurupi) (Au) 35 Calcatreu (Au & Ag) 35 San Jorge (Au) 35 Central America and Mexico 36 Cobre Panama (Au & Ag) 37 Guadalupe-Palmarejo (Au) 39 United States 40 Stillwater (PGM) 41 Goldstrike (Au) 42 Gold Quarry (Au) 43 Marigold (Au) 44 Bald Mountain (Au) 45 South Arturo (Au) 46 Mesquite (Au) 47 Castle Mountain (Au) 48 Fire Creek/Midas (Au & Ag) 49 Hollister (Au) 50 Stibnite Gold (Au) 51 Sterling (Au) 52 Granite Creek (Pinson) (Au) 52 Iron Ore Vale (Iron Ore, Cu, Au & Other) 90 LIORC (Iron Ore) 92 Other Mining NuevaUnión (Relincho) (Cu, Au, Mo) 93 Taca Taca (Cu, Au, Mo) 94 Caserones (Cu, Mo) 95 Milpillas (Cu) 96 Falcondo (Ni) 96 Copper World Project (Cu, Mo, Ag, Au) 97 Robinson (Cu, Au) 98 EaglePicher (De) 98 Ring of Fire (Cr, Ni, Cu, PGM) 99 Mt Keith (Ni) 100 Flying Fox (Ni) 101 Diversified (Mining) Exploration Assets 102 U.S. Energy Marcellus 106 Haynesville 107 SCOOP/STACK 108 Permian Basin 109 Canadian Energy Weyburn Unit 110 Orion 111 Other Producing Energy Assets 112 Energy Exploration Assets 113 Canada 53 Detour Lake (Au) 54 Sudbury (PGM & Au) 56 Hemlo (Au) 57 Brucejack (Au & Ag) 58 Kirkland Lake (Au) 59 Dublin Gulch (Eagle) (Au) 60 Musselwhite (Au) 61 Timmins West (Au) 62 Canadian Malartic (Au) 63 Magino (Au) 64 Island Gold (Au) 65 Greenstone (Au) 66 Valentine Gold (Au) 67 Golden Highway (Au) 68 Eskay Creek (Au & Ag) 69 Red Lake (McFinley) (Au) 69 Courageous Lake (Au) 70 Goldfields (Au) 70 Monument Bay (Au) 70 Red Mountain (Au) 71 Cariboo (Au) 71 Rest of World 72 MWS (Au) 73 Sabodala (Au) 74 Tasiast (Au) 75 Subika (Ahafo) (Au) 76 Karma (Au) 77 Duketon (Au) 78 Edikan (Au) 79 Matilda (Wiluna) (Au) 80 South Kalgoorlie (Au) 80 Kiziltepe (Au & Ag) 80 Sissingué (Au) 81 Pandora (PGM) 81 Yandal (Bronzewing) (Au) 81 Aphrodite (Au) 82 Séguéla (Au) 82 Perama Hill (Au) 82 Precious Metals Exploration Assets 83 Precious Metals Diversified 24 TSX / NYSE: FNV Franco-Nevada Corporation Precious Metals Precious Metals

25 Franco-Nevada Corporation TSX / NYSE: FNV Mineral Resources and Mineral Reserves Additional Information Diversified Assets Precious Metals/Diversified Assets Index – Alphabetical Precious Metals Diversified Antamina (Ag) 29 Antapaccay (Au & Ag) 28 Aphrodite (Au) 82 Bald Mountain (Au) 45 Brucejack (Au & Ag) 58 Calcatreu (Au & Ag) 35 Canadian Malartic (Au) 63 Candelaria (Au & Ag) 27 Cariboo (Au) 71 Cascabel (Alpala) (Au, Cu, Ag) 34 Castle Mountain (Au) 48 CentroGold (Gurupi) (Au) 35 Cerro Moro (Au & Ag) 3 2 Cobre Panama (Au & Ag) 37 Condestable (Au & Ag) 30 Courageous Lake (Au) 70 Detour Lake (Au) 54 Dublin Gulch (Eagle) (Au) 60 Duketon (Au) 78 Edikan (Au) 79 Eskay Creek (Au & Ag) 69 Fire Creek/Midas (Au & Ag) 49 Gold Quarry (Au) 43 Golden Highway (Au) 68 Goldfields (Au) 70 Goldstrike (Au) 42 Granite Creek (Pinson) (Au) 52 Greenstone (Au) 66 Guadalupe-Palmarejo (Au) 39 Hemlo (Au) 57 Hollister (Au) 50 Island Gold (Au) 65 Karma (Au) 77 Kirkland Lake (Au) 59 Kiziltepe (Au & Ag) 80 Caserones (Cu, Mo) 95 Copper World Project (Cu, Mo, Ag, Au) 97 Diversified (Mining) Exploration Assets 102 EaglePicher (De) 98 Energy Exploration Assets 113 Falcondo (Ni) 96 Flying Fox (Ni) 101 Haynesville 107 LIORC (Iron Ore) 92 Marcellus 106 Milpillas (Cu) 96 Mt Keith (Ni) 100 NuevaUnión (Relincho) (Cu, Au, Mo) 93 Orion 111 Permian Basin 109 Ring of Fire (Cr, Ni, Cu, PGM) 99 Robinson (Cu, Au) 98 SCOOP/STACK 108 Taca Taca (Cu, Au, Mo) 94 Vale (Iron Ore, Cu, Au & Other) 90 Weyburn Unit 110 Magino (Au) 64 Marigold (Au) 44 Matilda (Wiluna) (Au) 80 Mesquite (Au) 47 Monument Bay (Au) 70 Musselwhite (Au) 61 MWS (Au) 73 Pandora (PGM) 81 Perama Hill (Au) 82 Posse (Mara Rosa) (Au & Ag) 35 Precious Metals Exploration Assets 83 Red Lake (McFinley) (Au) 69 Red Mountain (Au) 71 Sabodala (Au) 74 Salares Norte (Au & Ag) 33 San Jorge (Au) 35 Séguéla (Au) 82 Sissingué (Au) 81 South Arturo (Au) 46 South Kalgoorlie (Au) 80 Sterling (Au) 52 Stibnite Gold (Au) 51 Stillwater (PGM) 41 Subika (Ahafo) (Au) 76 Sudbury (PGM & Au) 56 Tasiast (Au) 75 Timmins West (Au) 62 Tocantinzinho (Au) 31 Valentine Gold (Au) 67 Yandal (Bronzewing) (Au) 81 The description and depiction of our assets in this Asset Handbook has been simplified for presentation purposes. More detailed and current information may be available in our previous and subsequent disclosure and on our website. Mineral Resources and Mineral Reserves information for 2021 and 2020 is provided for comparative purposes only. For a detailed breakdown of the 2021 and 2020 Mineral Resources and Mineral Reserves, please refer to our AIF for each of the years ended December 31, 2021 and December 31, 2020, respectively available on SEDAR at www.sedar.com.

26 TSX / NYSE: FNV Franco-Nevada Corporation Overview Overview Precious Metals CentroGold (Gurupi) Cerro Moro San Jorge Antamina Salares Norte/ Rio Baker Antapaccay Candelaria Calcatreu Condestable Cascabel (Alpala) Posse (Mara Rosa) Producing Advanced Tocantinzinho South America

27 Franco-Nevada Corporation TSX / NYSE: FNV South America Mineral Resources and Mineral Reserves Additional Information Diversified Assets Candelaria Location: Chile, South America Operator: Lundin Mining Corporation Precious Metals: Au & Ag Stream: Gold and Silver Stream N km 0 2.5 Candelaria Gold and Silver Stream Candelaria Mining Property Area of Interest Ojos del Salado Mining Property Tierra Amarilla Santos Mine Copiapo Candelaria North (U/G) Alcaparrosa Mine Candelaria Pit Candelaria South (U/G) La Espanola Pacific Ocean ARGENTINA BOLIVIA PERU BRAZIL CHILE Candelaria Mineral Resources and Mineral Reserves at the four underground mines and has discovered the Española open-pit deposit which is located partly on the stream concession and partly on ground covered by Franco- Nevada’s area of interest. Operations at the Alcaparrosa underground mine were suspended in connection with the sinkhole which occurred near the mine in July 2022. Candelaria has a total mill throughput of approximately 79 ktpd. In early 2022, Lundin completed a feasibility study update for throughput expansion of the underground mines from 15 ktpd to up to 30 ktpd and included underground crushing and conveying systems and a surface secondary crushing plant although a construction decision has not yet been made. In 2022, Candelaria produced approximately 152 kt of copper, 86 koz of gold and 1.6 Moz of silver, on a 100% basis. Franco-Nevada sold 69,854 GEOs from the mine in 2022, compared with 65,034 GEOs in 2021. In 2023, Franco-Nevada expects sales from its Candelaria stream to be between 60,000 and 70,000 GEOs. History of expanding resources Updated plan extends life of mine to 2046 UG mine expansion being evaluated 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ 125.8 $ 116.5 $ 106.8 M&I Resource (koz Au) 1 5,336 5,600 5,600 Inferred Resource (koz Au) 1 484 500 300 P&P Reserves (koz Au) 1 2,479 2,700 2,800 M&I Resource (Moz Ag) 1 80.6 83.0 78.0 Inferred Resource (Moz Ag) 1 5.6 7.0 4.0 P&P Reserves (Moz Ag) 1 36.2 39.0 39.0 M&I Royalty Ounces (000s) 1, 2 1,456 1,586 1,629 Inferred Royalty Ounces (000s) 2 115 125 75 P&P Royalty Ounces (000s) 2 746 851 920 1 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 For Royalty Ounce calculation, Franco-Nevada estimates P&P Royalty Ounces include payable metal of the balance of the 720,000 ounces of gold and 12 million ounces of silver remaining and the balance of P&P Reserves subject to the lower stream percentage. For M&I Royalty Ounces, Franco- Nevada has assumed the P&P Royalty Ounces with the balance of M&I Resources subject to the lower stream percentage. For Inferred Royalty Ounces, Franco-Nevada assumes Inferred Mineral Resources are subject to the lower stream percentage. Silver is converted to Royalty Ounces assuming $1,800/oz gold and $21.00/oz silver ($1,800/oz gold and $23.00/oz silver in 2021, $1,750/oz gold and $25.00/oz silver in 2020). The stream interest has been factored by 76% to reflect $1,800 per ounce gold and $424.60 per ounce ongoing payments (77% in 2021, 76% in 2020) In November 2014, Franco-Nevada (Barbados) Corporation, a subsidiary of Franco-Nevada, acquired a gold and silver stream on production from the Candelaria operation in Chile. The Candelaria mine was discovered in 1987 and the open pit has been in operation since 1993. The operation also includes the Candelaria North and South, Santos and Alcaparrosa underground mines. Lundin Mining Corporation (“Lundin”) is the operator of the project and owns 80% of the asset with the balance owned by Sumitomo Corporation and its affiliates. Franco-Nevada provided an up-front deposit of $655 million to acquire the gold and silver stream from what is primarily a copper mine. The funds were used to finance a portion of the cost paid by Lundin to acquire the asset from Freeport-McMoRan Inc. Candelaria is an established mining operation and the transaction was the first material instance of a royalty/ streaming company partnering with an operating company to purchase a producing asset. The stream covers the current property of approximately 150 km 2 . An additional defined area of interest effectively doubles the property position. Should Lundin acquire properties located within the area of interest, Franco-Nevada has the option to purchase a gold and silver stream which will apply to the additional ore from such properties. Under the streaming agreement, Lundin will deliver 68% of the payable gold and silver from 100% of the mine production, which reduces to 40% after 720,000 ounces of gold and 12 million ounces of silver have been delivered to Franco-Nevada. This is currently expected to occur in 2027. Cumulatively, 484,914 ounces of gold and 7.8 million ounces of silver have been delivered since acquisition until December 31, 2022. Franco-Nevada pays an ongoing price equal to the lesser of $424.60 per ounce of gold and $4.24 per ounce of silver or the then prevailing spot price for gold and silver for each ounce delivered under the stream. This price escalates by 1% per annum in October of each year. Lundin has made a significant investment in exploration at Candelaria and has increased M&I Mineral Resources by 240% when considering depletion. The go forward mine life has been extended from 2028, when it acquired Candelaria, to 2046. Lundin has successfully added to the Candelaria, Chile

28 TSX / NYSE: FNV Franco-Nevada Corporation South America Overview Overview Precious Metals Pacific Ocean ARGENTINA BOLIVIA PERU BRAZIL COLOMBIA EQUADOR CHILE Antapaccay Antapaccay Location: Peru, South America Operator: Glencore plc Precious Metals: Au & Ag Stream: Gold and Silver Stream Antapaccay Gold and Silver Stream Not included Antapaccay Pit Coroccohuayco km 0 10 Antapaccay Concession Area Antapaccay Concession area covers ~997 km 2 * Tintaya Pit/ Tailings Storage Antapaccay Plant Tintaya Plant 8 km 7 km December 31, 2022. Thereafter, Franco-Nevada will receive 30% of the gold and silver shipped. Franco-Nevada will initially pay an on-going price of 20% of the spot price of gold and silver until 750,000 ounces of refined gold and 12.8 million ounces of refined silver have been delivered. Thereafter, the on-going price will increase to 30% of the spot price of gold and silver. The stream is referenced to the entire Antapaccay concession covering approximately 997 km 2 . Glencore is considering developing the Coroccohuayco deposit which is located within 10 km of the Antapaccay plant. The project has been rescoped as an open pit with mine planning currently at the PFS level. Coroccohuayco hosts M&I Mineral Resources of 643 million tonnes with a copper grade that is approximately 50% higher than the Antapaccay Mineral Reserves. In addition, there are a number of large-scale regional targets and prospects on the Antapaccay concessions. Antapaccay has a combined (Antapaccay + Tintaya plants) mill throughput capacity of 105 ktpd. In 2022, Antapaccay produced 151 kt of copper, 61 koz of gold and 1.2 Moz of silver. Franco-Nevada sold 53,023 GEOs from the mine in 2022, compared with 62,411 GEOs in 2021 and, in 2023, expects sales from its Antapaccay stream to be between 57,500 and 67,500 GEOs. Antapaccay has a planned mine life to 2034 which would be further extended by any development of Coroccohuayco. Gold and silver deliveries initially referenced to copper in concentrate shipped Potential for Coroccohuayco to extend mine life Land package of 997 km 2 offers a number of large - scale regional targets 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ 95.2 $ 111.6 $ 118.5 M&I Resource (koz Au) 1 3,079 3,279 3,161 Inferred Resource (koz Au) 1 193 383 201 P&P Reserves (koz Au) 1 1,198 1,222 1,204 M&I Resource (Moz Ag) 1 70.2 70.6 65.4 Inferred Resource (Moz Ag) 1 3.4 6.2 2.5 P&P Reserves (Moz Ag) 1 19.3 17.6 17.2 M&I Royalty Ounces (000s) 1, 2 786 868 861 Inferred Royalty Ounces (000s) 2 36 72 34 P&P Royalty Ounces (000s) 2 397 440 469 1 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 For Royalty Ounce calculation, Franco-Nevada estimates P&P Royalty Ounces include payable metal of the remaining deliveries before the 630,000 ounces of gold and 10 million ounces of silver hurdle with the balance of Mineral Reserves subject to a 30% stream. For M&I Royalty Ounces, Franco- Nevada assumes the P&P Royalty Ounces with the balance of M&I Resources subject to the 30% stream. For Inferred Royalty Ounces, Franco-Nevada assumes Inferred Mineral Resources are subject to the 30% stream. Silver has been converted to Royalty Ounces assuming $1,800/oz gold and $21.00/oz silver ($1,800/oz gold and $23.00/oz silver in 2021, $1,750/oz gold and $25.00/oz silver in 2020). The stream interest has been factored by different ongoing payments of 20% of the spot price of gold and silver on the first 750,000 ounces of gold and 12.8 million ounces of silver and 30% of the spot price thereafter In February 2016, Franco-Nevada (Barbados) Corporation, a subsidiary of Franco-Nevada, acquired a precious metals stream on production from the Antapaccay mine for $500 million from Glencore plc (“Glencore”) and its subsidiaries. Antapaccay is located within the province of Espinar in Southern Peru. The property also hosts the historic Tintaya open-pit mine and related infrastructure which began operating in 1984. Glencore (Xstrata) invested in excess of $1.5 billion of initial capital to build and commission the Antapaccay open-pit mine and plant, which commenced operations in 2012. Under the streaming agreement, gold and silver deliveries are initially referenced to copper in concentrate shipped. Franco-Nevada will receive 300 ounces of gold and 4,700 ounces of silver for each 1,000 tonnes of copper in concentrate shipped, until 630,000 ounces of gold and 10 million ounces of silver have been delivered, which is currently expected to occur in 2028. Cumulatively, 395,440 ounces of gold and 6.2 million ounces of silver have been delivered since acquisition until Antapaccay, Peru

29 Franco-Nevada Corporation TSX / NYSE: FNV South America Mineral Resources and Mineral Reserves Additional Information Diversified Assets Antamina Location: Peru, South America Operator: Teck Resources Limited (owns 22.50%) Precious Metals: Ag Stream: Silver Stream South America Antamina Paramonga Pativilca Lima Barranca Huacho Huaral Chancay Pto. Supe Cutatambo Autopista Panamericana Norte Autopista Panamericana Norte Cajacay Chasquitambo Conococha Carretera Pativilca-Huarez Huarmey Punta Lobitos CMA Puerto Minero Aquia Chiquian Catac Pachacoto Recuay Huaraz Huallanca Huanzala Yanashall Machac Huari San Marcos Chavui De Huantar PARQUE NACIONAL HUASCARAN Subestacion Linea de Transmision Electrica CMA Pipeline Peru Pacific Ocean N km 0 100 Antamina Silver Stream copper operations globally. Antamina has a mill throughput capacity of approximately 145,000 tonnes per day. In 2022, on a 100% basis, Antamina produced 454,800 tonnes of copper, 433,000 tonnes of zinc and 14.7 million ounces of silver (silver calculated from Glencore’s 33.75% interest in Antamina) in concentrates. Silver sold for 2022 was 3.1 million ounces for Franco-Nevada’s attributable production under the stream, with 3.8 million ounces sold in 2021. Franco-Nevada expects attributable production in 2023 to be between 2.4 to 2.8 million silver ounces, temporarily lower than our long- term expected annual range of 2.8 million to 3.2 million silver ounces as silver grades are expected to be lower than average in 2023. The stream is based on recovered silver from Teck’s attributable 22.50% interest in the Antamina mine, subject to a fixed silver payability of 90%. Franco-Nevada pays 5% of the spot silver price for each ounce of silver delivered under the stream. The stream will reduce by one-third after 86 million ounces of silver have been delivered. A total of 24.9 million cumulative ounces of silver have been delivered to Franco-Nevada as of December 31, 2022. Inclusive of Mineral Reserves, the mine contains total Measured and Indicated Mineral Resources of approximately 889 million tonnes of ore (with a silver grade of 11.2 g/t) and an Inferred Mineral Resource of 1.24 billion tonnes of ore (with a silver grade of 11.5 g/t). Total Mineral Reserves are 282 million tonnes of ore (with a silver grade of 9.8 g/t), which are currently constrained by tailings disposal capacity. CMA is currently conducting engineering studies for additional tailings storage options and alternative mine plans that could result in significant mine life extensions. In 2022, CMA submitted a Modification of Environmental Impact Assessment to Peruvian regulators to extend its mine life from 2028 to 2036. The regulatory review process is progressing as scheduled, with approval anticipated in the second half of 2023. Beyond the known Mineral Resources and Mineral Reserves, Antamina hosts additional potential open-pit and bulk/selective underground targets. There is also regional exploration potential over a large, prospective land package greater than 1,000 km 2 . High grade copper/zinc orebody One of the lowest cost copper operations globally Large, high grade Inferred Mineral Resource 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ 68.4 $ 94.1 $ 57.0 M&I Resource (Moz Ag) 1 321.2 324.9 342.5 Inferred Resource (Moz Ag) 1 460.2 447.7 460.7 P&P Reserves (Moz Ag) 1 88.3 107.0 118.3 M&I Royalty Ounces (000s) 1, 2 528 585 642 Inferred Royalty Ounces (000s) 2 531 560 599 P&P Royalty Ounces (000s) 2 153 201 231 1 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 For Royalty Ounce calculation, Franco-Nevada assumes 22.5% of Teck’s interest in Antamina is subject to our stream interest and that the stream reduces by 33% once 86 million silver ounces have been delivered. Silver has been converted to Royalty Ounces assuming $1,800/oz gold and $21.00/oz ($1,800/oz gold and $23.00/oz silver in 2021, $1,750/oz gold and $25.00/oz in 2020). The stream interest has been factored by ongoing payments of 5% of the spot price of silver In October 2015, Franco-Nevada acquired a silver stream for $610 million on production from the Antamina mine in Peru from Teck Resources Limited (“Teck”). Teck has a 22.50% interest in Compañía Minera Antamina S.A. (“CMA”), the Antamina joint venture company, along with partners BHP Billiton Plc (33.75%), Glencore (33.75%) and Mitsubishi Corporation (10.00%). Antamina commenced operations in 2001 and is one of the lowest cost Antamina, Peru

30 TSX / NYSE: FNV Franco-Nevada Corporation South America Overview Overview Precious Metals Condestable Location: Peru, South America Operator: Southern Peaks Mining LP Precious Metals: Au & Ag Stream: Gold and Silver Stream Santia Antofagasta Arequipa Cusco Mina Justa Cerro Pelado Sant Teresa de Colm’o Punt Mantoverde El Espino Panulcillo IOCG Deposit Lima N 0 250 km Condestable Candelaria Cretaceous IOCG Belt IOCG Mine (FNV Stream) Pacific Ocean Chil Peru Condestable UG Surface Facilities Raul UG Vinchos UG Pacific Ocean N 0 5 km Condestable Gold and Silver Stream Condestable Mining Property 102 km to Lima Pan American Hwy Antofagasta Arequipa Cusco Mina Justa Cerro Pelado Santo Domingo Teresa de Colm’o Punta del Cobre Mantoverde IOCG Deposit Lima La Paz Salta N 0 250 km Condestable Candelaria Cretaceous IOCG Belt IOCG Mine (FNV Stream) Pacific Ocean Bolivia Argentina Chile Peru Condestable UG Surface Facilities Raul UG Vinchos UG Pacific Ocean N 0 5 km Condestable Gold and Silver Stream 102 km to Lima Pan American The Condestable mine is located approximately 90 km south of Lima, Peru, and is owned and operated by a majority-owned subsidiary of Southern Peaks Mining LP (“SPM”), a private company. The Condestable mine has operated for over 50 years with a proven history of resource conversion. For the first five years of the streaming agreement, commencing on January 1, 2021 and ending December 31, 2025, Franco-Nevada will receive 8,760 ounces of gold and 291,000 ounces of silver annually until a total of 43,800 ounces of gold and 1,455,000 ounces of silver have been delivered (the “Fixed Deliveries”). Thereafter, Franco-Nevada will receive 63% of the gold and silver contained in concentrate until a cumulative total of 87,600 ounces of gold and 2,910,000 ounces of silver have been delivered (the “Variable Phase 1 Deliveries”). The stream then reduces to 25% over the remaining life of mine (the “Variable Phase 2 Deliveries”). Franco-Nevada will pay 20% of the spot price for gold and silver for each ounce delivered under the stream (the “Ongoing Payment”). The stream has an effective date of January 1, 2021. For a period of four years from closing, subject to certain restrictions, a subsidiary of SPM may, at its option, make a one-time special delivery comprising the number of ounces of refined gold equal to $118.8 million at the then current spot price subject to the Ongoing Payment, to achieve the early payment of the Fixed Deliveries and Variable Phase 1 Deliveries. The Variable Phase 2 Deliveries would commence immediately thereafter. The stream is referenced to the entire Condestable concessions covering approximately 450 km 2 with excellent near mine exploration upside. SPM is currently ramping up processing capacity at the Condestable mine from 7,000 tpd to 8,400 tpd and is advancing a feasibility study on additional plant capacity expansion to 10,000 tpd. Proven operation with excellent potential for expansions and mine life extension Large, prospective land package of approximately 450 km 2 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ 22.4 $ 22.5 $ – M&I Resource (koz Au) 1 688 701 711 Inferred Resource (koz Au) 1 479 480 481 P&P Reserves (koz Au) 1 163 170 n/a M&I Resource (Moz Ag) 1 17.4 17.6 17.9 Inferred Resource (Moz Ag) 1 12.2 12.3 12.3 P&P Reserves (Moz Ag) 1 5.2 5.2 n/a M&I Royalty Ounces (000s) 1, 2 164 180 188 Inferred Royalty Ounces (000s) 2 87 89 92 P&P Royalty Ounces (000s) 2 97 n/a n/a 1 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 For Royalty Ounce calculation, Franco-Nevada estimates fixed deliveries for M&I Royalty Ounces of 8,760 ounces of gold and 291,000 ounces of silver per year until December 2025; then, 63% of gold and silver until 87,600 ounces of gold and 2,910,000 ounces of silver are delivered, respectively; thereafter, 25% of gold and silver ounces are subject to the stream. For Inferred Royalty Ounces, Franco-Nevada assumes 25% of gold and silver from Inferred Mineral Resources (25% in 2021) are subject to the stream. Silver has been converted to Royalty Ounces assuming $1,800/oz gold and $21.00/oz ($1,800/oz gold and $23.00/oz silver in 2021, $1,750/oz gold and $25.00/oz in 2020). The stream interest has been factored by ongoing payments of 20% of the spot price of gold and silver On March 8, 2021, Franco-Nevada (Barbados) Corporation, a subsidiary of Franco-Nevada, acquired a precious metals stream on production from the Condestable mine in Peru, for an up-front deposit of $165 million. Condestable, Peru

31 Franco-Nevada Corporation TSX / NYSE: FNV South America Mineral Resources and Mineral Reserves Additional Information Diversified Assets Tocantinzinho Location: Brazil, South America Operator: G Mining Ventures Corp. Precious Metals: Au Stream: Gold Stream 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ – $ – $ – M&I Resource (koz Au) 1 2,102 – – Inferred Resource (koz Au) 1 50 – – P&P Reserves (koz Au) 1 2,042 – – M&I Royalty Ounces (000s) 1, 2 210 – – Inferred Royalty Ounces (000s) 2 5 – – P&P Royalty Ounces (000s) 2 204 – – 1 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves. 2 For Royalty Ounce calculation, Franco-Nevada estimates it will receive 12.5% of gold produced which reduces to 7.5% after 300,000 ounces of gold have been delivered. The stream interest has been factored by 80% to reflect an ongoing payment price of 20% of the spot price for each ounce of gold delivered ($1,800 per ounce gold for 2022) On July 18, 2022, Franco-Nevada (Barbados) Corporation, a subsidiary of Franco-Nevada, announced a $352.5 million funding package with G Mining Ventures Corp. on the Tocantinzinho gold project in Brazil. Tocantinzinho is located in the Tapajos region of Pará State, Brazil, 200 km south-southwest of the city of Itaituba, and is owned and operated by G Mining Ventures Corp. (“G Mining Ventures”). The construction funding package included a $250 million gold stream, $75 million secured term loan and $27.5 million of G Mining Ventures’ common shares. Under the streaming agreement, Franco-Nevada will receive 12.5% of gold produced which reduces to 7.5% after 300,000 ounces of gold have been delivered. Franco-Nevada pays an ongoing price of 20% of the spot gold price for each ounce of gold delivered. The $75 million, six-year term loan is available for a period of 3.5 years, drawable quarterly at G Mining Ventures’ option following full funding of the stream with an interest rate of 3-Month Term Secured Overnight Financing Rate (“3-Month SOFR”) +5.75% per annum, reducing to 3-Month SOFR+4.75% after completion tests have been achieved at the project. Tocantinzinho is a conventional open pit mining and milling operation. On February 9, 2022 G Mining Ventures announced a positive feasibility study on Tocantinzinho constructing a 12.6 ktpd mill and producing 1.8 Moz of gold over 10.5 years, resulting in an average annual gold production profile of approximately 175 koz with an all-in-sustaining cost of $681/oz and initial capital cost of $458 million. The project has commenced construction with first production expected in the second half of 2024. Based on expected mine performance, full year contributions to Franco-Nevada from the project are expected to average approximately 24,500 GEOs per year over the first five years of full production. Experienced team with track record of successful project delivery Project financing in place Large, prospective land package of approximately 996 km 2 N 0 10 Tocantinzinho Gold Stream Tocantinzinho km Mining Licenses Exploration Licenses Licenses under application Tocantinzinho, Brazil

32 TSX / NYSE: FNV Franco-Nevada Corporation South America Overview Overview Precious Metals Cerro Moro Location: Argentina, South America Operator: Pan American Silver Corp. Precious Metals: Au & Ag Royalty: NSR: 2% Cerro Moro Royalty Area 2% NSR Royalty Claim Area Not Included Under 2% NSR N km 0 5 Michelle Zoe Deborah Martina Tres Lomas Esperanza Loma Escondida N Buenos Aires Cerro Moro CHILE ARGENTINA BRAZIL BOLIVIA URUGUAY PARAGUAY Carla Elsa Escondida Nini Nini Ext Natalia Natalia NW PLANT faces, which supported the increase in mill feed coming from higher- grade underground ore and stable throughput. Prior to the acquisition, Yamana’s long-term plan at Cerro Moro was to create ten years of sustainable production of at least 160,000 gold equivalent ounces 3 per year. In November 2022, Yamana continued to report exploration success at Cerro Moro. Cerro Moro exploration during 2022 concentrated in the core mine (covered by Franco-Nevada’s royalty) and Naty sectors (not covered by Franco-Nevada’s royalty) with infill drilling targeting extensions of known mineralization both to depth and along strike to replace mining depletion. Yamana was considering both a plant expansion and added heap leach project which, along with conversion of known exploration targets to mineral resources, could produce at least 200,000 gold equivalent ounces 3 per year. High grade gold/silver deposit with expansion potential Significant near-mine and regional exploration targets 3 Please refer to Yamana’s public disclosures for further details on its definition of gold equivalent ounces 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ 6.3 $ 4.9 $ 4.1 M&I Resource (koz Au) 1 574 574 521 Inferred Resource (koz Au) 1 226 226 254 P&P Reserves (koz Au) 1 457 457 431 M&I Resource (Moz Ag) 1 30.0 30.0 30.1 Inferred Resource (Moz Ag) 1 8.2 8.2 8.8 P&P Reserves (Moz Ag) 1 22.2 22.2 23.9 M&I Royalty Ounces (000s) 1, 2 17 18 18 Inferred Royalty Ounces (000s) 2 6 6 7 P&P Royalty Ounces (000s) 2 14 15 15 1 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 For Royalty Ounce calculation, Franco-Nevada estimates 95% of the Mineral Reserves (100% in 2021), 90% of the M&I Mineral Resources (95% in 2021, 95% in 2020) and 90% of the Inferred Mineral Resources (95% in 2021, 95% in 2020) are subject to our royalty interest and estimates a rate of 2.0% is applicable. Silver has been converted assuming $1,800/oz gold and $21.00/oz silver ($1,800/oz gold and $23.00/oz silver in 2021, $1,750/oz gold and $25.00/oz silver in 2020) Franco-Nevada has a 2% NSR on the Cerro Moro mine operated by Pan American Silver Corp. (“Pan American Silver”) in Santa Cruz province, Argentina. The royalty covers approximately 160 km 2 of the property including a significant portion of the mineral resources which are contained in high-grade epithermal gold and silver veins. In March 2023, Pan American Silver acquired Cerro Moro as part of its acquisition of Yamana Gold Inc. (“Yamana”). Construction at Cerro Moro was completed in 2018 with commercial production being declared in June 2018. For 2022, actual production was 108,240 ounces of gold and 6.1 million ounces of silver compared to 79,988 ounces of gold and 5.6 million ounces of silver in 2021. Production continued to benefit from access to additional mining Cerro Moro, Argentina

33 Franco-Nevada Corporation TSX / NYSE: FNV South America Mineral Resources and Mineral Reserves Additional Information Diversified Assets Salares Norte Location: Chile, South America Operator: Gold Fields Limited Precious Metals: Au & Ag Royalty: NSR: 1-2% Brecha Principal N Salares Norte Royalty Area Agua Amarga Salares Norte Rio Baker 0.5 km 0 1 High-grade gold sub-domains 2017 EIA pit outline Main low-grade domains tonnes grading 5.85 g/t gold and 71.3 g/t silver). In June 2022, Gold Fields released a technical report supporting the 2019 feasibility study which envisaged an open-pit mining operation with an initial mine life of 11 years. Construction of the Salares Norte mine commenced in 2020 and pre-stripping of the pit and construction of the processing plant started in January 2021. COVID-19 and severe weather conditions impacted activities on site during 2022, and ongoing skills shortages resulted in further delay, with first gold production now expected in Q4 2023. Production for 2023 is expected to range from 15,000 to 35,000 ounces and is expected to increase to 500,000 ounces in 2024, before reaching full production of approximately 600,000 ounces in 2025. For the six-year period from 2024 to 2029, average annual production is expected to be 500,000 ounces and for the 10-year period from 2024 to 2033, average annual production is expected to be 355,000 ounces. Gold Fields reported total project completion of 87% for the construction of Salares Norte at the end of December 2022. With the commencement of commercial production at Salares Norte now expected in Q4 2023, Franco-Nevada does not anticipate meaningful royalty payments until 2024. First production expected in Q4 2023 Initial 11-year mine life Near-mine exploration success to potentially extend mine life 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ – $ – $ – M&I Resource (koz Au) 1 3,933 3,804 3,804 Inferred Resource (koz Au) 1 142 109 109 P&P Reserves (koz Au) 1 3,467 3,476 3,476 M&I Resource (Moz Ag) 1 44.9 42.9 42.9 Inferred Resource (Moz Ag) 1 0.9 0.7 0.7 P&P Reserves (Moz Ag) 1 39.0 39.3 39.3 M&I Royalty Ounces (000s) 1, 2 45 44 88 Inferred Royalty Ounces (000s) 2 2 1 2 P&P Royalty Ounces (000s) 2 39 40 81 1 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 For Royalty Ounce calculation, Franco-Nevada estimates 100% of the Mineral Reserves & Mineral Resources (100% in 2021, 100% in 2020) are subject to our royalty interest and estimates a rate of 1.0% (1.0% in 2021, 2.0% in 2020) in anticipation that Gold Fields exercises its right to repurchase 1.0% of the 2.0% NSR. Silver has been converted assuming $1,800/oz gold and $21.00/oz silver ($1,800/oz gold and $23.00/oz silver in 2021, $1,750/oz gold and $25.00/oz silver in 2020) In early 2019, Franco-Nevada acquired an existing 2% NSR on the Salares Norte project being advanced by Gold Fields Limited (“Gold Fields”) in the Atacama region of Northern Chile. The royalty is subject to a 1% buyback by Gold Fields within 24 months of announcing commercial production, for $6.0 million, with a credit from royalty revenue. In September 2020, Franco-Nevada acquired an additional 2% NSR on all mineral production from Gold Fields’ Rio Baker concessions for $5.0 million in cash with contingent payments of up to $8.0 million. The Rio Baker claims cover the northwest extension of the Salares Norte deposit and the royalty acquisition provided Franco-Nevada with exposure to 100% of the Salares Norte project. Salares Norte is a blind epithermal gold and silver deposit and represents one of Gold Fields’ key development projects. In March 2023, Gold Fields released an updated Mineral Reserve as of December 31, 2022 containing 3.45 million ounces of gold and 42.2 million ounces of silver (18.4 million Antofagasta La Serena Santiago Copiapo Relincho CHILE ARGENTINA BOLIVIA PERU Vizcachitas San Jorge Taca Taca Salares Norte Salares Norte, Chile

34 TSX / NYSE: FNV Franco-Nevada Corporation South America Overview Overview Precious Metals Cascabel (Alpala) Location: Ecuador, South America Operator: SolGold plc Metals: Au, Cu, Ag 1 Royalty: NSR: 1% N 0 1 km Hwy Transverse Frontier 0.1% Copper Equivalent 0.4% Copper Equivalent 1.0% Copper Equivalent Tracks Royalty Claim Area Alpala Rocafuerte Alpala Camp Tandayama America Aguinaga 1.0% CuEq 0.1% CuEq 0.4% CuEq 0.1% CuEq 0.1% CuEq Site Office Cascabel (Alpala) 1% NSR Area Franco-Nevada’s royalty covers nearly 50 km 2 of the Cascabel mining concessions including the Alpala and the Tandayama-America (“TAM”) deposit. Alpala, the main target in the Cascabel concession, is a copper- gold porphyry deposit and represents one of the largest copper-gold projects being advanced globally. The Cascabel project is owned by Exploraciones Novamining SA, which was previously held 85% by SolGold and 15% by Cornerstone Capital Resource Inc. (“Cornerstone”). In February 2023, SolGold consolidated a 100% interest in the Cascabel project, merging with Cornerstone. The royalty is in reference to all minerals produced with the option of Franco- Nevada to convert the royalty to a gold NSR for a period of time once Alpala is producing. Franco-Nevada is further entitled to receive certain minimum royalty payments starting in 2028, subject to certain conditions. The royalty agreement includes an option to buy back 50% of the royalty for a period of time and convert to all precious metals. SolGold completed a prefeasibility study on the Cascabel project in April 2022. The prefeasibility study contemplated an underground block cave and outlined a Probable Mineral Reserve containing 9.4 million ounces of gold, 3.3 million tonnes of copper, and 30 million ounces of silver (558 million tonnes grading 0.52 g/t Au, 0.58% Cu and 1.65 g/t Ag). The inclusive Measured and Indicated Mineral Resource comprised 2,663 million tonnes at 0.53% CuEq for 21.7 million ounces of gold, 9.9 million tonnes of copper, and 92.2 million ounces of silver. The prefeasibility study contemplates an initial 26-year mine life, with potential mine life upside in excess of 50 years following the initial life of mine. On achieving nameplate capacity, an average of approximately 190,000 tonnes of copper, 680,000 ounces of gold and 1.4 million ounces of silver per year is expected over the initial five years of production. Exploration has yielded encouraging results on the broader Cascabel concessions with the identification of a highly mineralized system at TAM, which is located approximately 3 km north of the Alpala deposit, that has open-pit mining potential, and is covered by the Franco-Nevada royalty. SolGold declared a maiden mineral resource at TAM in October 2021 with a subsequent update in May 2022 comprising 528.5 million tonnes at 0. 36% copper equivalent containing 1.27 million tonnes of copper and 3.16 million ounces of gold in Measured and Indicated Mineral Resources, plus 105.1 million tonnes at 0.36% copper equivalent containing 0.26 million tonnes of copper and 0.62 million ounces of gold in the Inferred category. One of the largest copper-gold development projects in the world Prefeasibility study released in April 2022 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ – $ – $ – M&I Resource (Mlbs Cu) 1 24,626 22,994 21,826 Inferred Resource (Mlbs Cu) 1 3,439 4,012 2,866 P&P Reserves (Mlbs Cu) 1 7,187 – – M&I Resource (koz Au) 1 24,850 22,900 21,700 Inferred Resource (koz Au) 1 2,520 3,140 1,900 P&P Reserves (koz Au) 1 9,370 – – M&I Resource (Moz Ag) 1 92.2 92.2 92.2 Inferred Resource (Moz Ag) 1 10.6 10.6 10.6 P&P Reserves (Moz Ag) 1 30.0 – – M&I Royalty Ounces (millions) 1, 2 724 621 601 Inferred Royalty Ounces (millions) 2 91 99 69 P&P Royalty Ounces (millions) 2 233 – – 1 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 For Royalty Ounce calculation, Franco-Nevada estimates 100% of the Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates a rate of 1.0% (0.85% for copper Royalty Ounces which factors a NSR smelting charge of 15%). Copper has been converted to Royalty Ounces assuming $4.00 per pound and silver has been converted to Royalty Ounces assuming $1,800/oz gold and $21.00/oz silver ($1,800/oz gold and $23.00/oz silver in 2021, $1,750/oz gold and $25.00/oz silver in 2020) In 2020, Franco-Nevada acquired a 1% NSR on the Cascabel copper-gold-silver project located in northern Ecuador being advanced by SolGold plc (“SolGold”). Cascabel (Alpala), Ecuador Pacific Ocean ARGENTINA BOLIVIA PERU BRAZIL COLOMBIA EQUADOR CHILE Cascabel

35 Franco-Nevada Corporation TSX / NYSE: FNV South America Mineral Resources and Mineral Reserves Additional Information Diversified Assets Posse (Mara Rosa) CentroGold (Gurupi) Location: Brazil, South America Operator: Hochschild Mining PLC Precious Metals: Au Royalty: NSR: 1% Location: Brazil, South America Operator: Oz Minerals Limited Precious Metals: Au Royalty: NSR: 0-1% Franco-Nevada holds a 1% NSR royalty on the Posse open-pit project located in Mara Rosa in the State of Goiás, Brazil. Hochschild Mining PLC (“Hochschild”) acquired the project through its acquisition of Amarillo Gold Corporation (“Amarillo”) in April 2022. Hochschild has revised the August 2020 feasibility study prepared by Amarillo and the updated mine plan forecasts a 10-year mine life from an open-pit with average annual gold production of 80,000 ounces of gold per year with 100,000 ounces of gold per year over the first four years of production. The brownfield project benefits from existing infrastructure and received the License to Install from state regulators in February 2021. Initial capital for the project is estimated at $200 million. As of January 2023, construction is advancing on schedule and reported to be 50% complete as of the end of December 2022, with first production anticipated in H1 2024. For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates an average rate of 1.0% is applicable Franco-Nevada holds a sliding scale NSR royalty (1% at greater than $400 per ounce gold) on the CentroGold (Gurupi) project located in the State of Maranhão in northern Brazil. Oz Minerals Limited (“Oz Minerals”) acquired the previous operator, Avanco Resources Limited (“Avanco”), in 2018. In July 2019, Oz Minerals released an updated prefeasibility study on the project which envisioned a 10-year mine life with average annual gold production of 100,000 to 120,000 ounces of gold per year with 190,000 to 210,000 ounces of gold per year in the first two years of production. There is currently a mining license injunction for the property. In 2022, Oz Minerals underwent an extensive negotiation and agreement process on a Land Use Agreement and, in December 2022, the National Institute of Colonization and Agrarian Reform approved the Land Use Agreement required for progressing the court injunction removal. Oz Minerals intends to commence a feasibility study for the CentroGold project once the court injunction is removed. For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates an average rate of 1.0% is applicable Calcatreu Location: Argentina, South America Operator: Patagonia Gold PLC Precious Metals: Au & Ag Royalty: NSR: 2.5% Franco-Nevada has a 2.5% NSR on the Calcatreu property in Argentina. Calcatreu is an epithermal gold-silver deposit located in the Province of Rio Negro. In December 2017, Patagonia Gold PLC (“Patagonia”) acquired the property from Pan American Silver. The Calcatreu deposit contains an Indicated Mineral Resource of 669,000 ounces of gold and 6.3 million ounces of silver and an Inferred Mineral Resource of 348,000 ounces of gold and 3.4 million ounces of silver. In 2022, Patagonia held a series of outreach meetings with local communities, authorities and unions presenting an update on activities, to seek input from those groups and others which will form a vital part of the permitting process for the project moving forward. During the same period, surface rights covering a major portion of the current Mineral Resource at Calcatreu were purchased. For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates an average rate of 2.5% is applicable San Jorge Location: Argentina, South America Operator: Aterra Investments Ltd. and Solway Industries Ltd. Precious Metals: Au Royalty: NSR: 7.5% San Jorge is a copper-gold porphyry project located in the Province of Mendoza, Argentina. Coro Mining Corp. (“Coro Mining”) prepared a prefeasibility study in 2012 for a flotation copper project with a proposed open pit mine with enriched and primary sulphide ore, although failed to receive permitting to proceed with the project. Aterra Investments Ltd. and Solway Industries Ltd. (“Solway”) acquired the property from Coro Mining in April 2015 and the project is currently on care and maintenance. Solway has reported prefeasibility results with annual production of over 40,000 tonnes of copper and 40,000 ounces of gold contained in concentrate over a 16-year life. Under revised terms of the royalty agreement Franco- Nevada received annual payments of $1.25 million per year for a 10-year period which ended in 2021. Franco-Nevada maintains a 7.5% NSR on all gold produced from the property, having acquired the royalty through its acquisition of Lumina Royalty Corp. in December 2011. For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates an average rate of 7.5% is applicable

36 TSX / NYSE: FNV Franco-Nevada Corporation Overview Overview Precious Metals Cobre Panama Guadalupe-Palmarejo Producing Central America and Mexico

Central America and Mexico 37 Franco-Nevada Corporation TSX / NYSE: FNV Mineral Resources and Mineral Reserves Additional Information Diversified Assets Cobre Panama Location: Panama, Central America and Mexico Operator: First Quantum Minerals Ltd. Precious Metals: Au & Ag Stream: Gold and Silver Stream Franco-Nevada (Barbados) Corporation, a subsidiary of Franco-Nevada, contributed a total of $1.36 billion to the construction of Cobre Panama. Franco-Nevada has two precious metals streams with slightly different terms: • Fixed Payment Stream – Effective since 2015 and applies to First Quantum’s original 80% interest in Cobre Panama. • Floating Payment Stream – Effective March 2018, Franco-Nevada (Barbados) Corporation added a new precious metals stream which increased its coverage to 100% of the ownership of the Cobre Panama operation. The Floating Payment Stream applies to First Quantum’s 10% indirect interest acquired from LS-Nikko Copper Inc. and KOMIR’s 10% indirect interest. The amount of precious metals deliverable under both the Fixed Payment Stream and Floating Payment Stream is currently indexed to the copper in concentrate shipped until certain specified thresholds of gold and silver deliveries are met, currently expected to occur in 2028. The main difference between the Fixed Payment Stream and Floating Payment Stream is the ongoing price per ounce paid. As of November 2022, the current ongoing payment of the Fixed Payment Stream is fixed per ounce payments of $450.59/oz gold and $6.76/oz silver with a 1.5% annual inflation factor. The Floating Payment Stream ongoing price per ounce for deliveries is 20% of the spot price for the Mineral Reserve life at the time and higher thereafter. Cobre Panama commenced production in February 2019. From January 1, 2019 until the mill throughput reached 58 Mtpa, Franco- Nevada was entitled to a 5% return on its capital invested. The return will be achieved by a $100 per gold ounce discount in the ongoing price for the initial ounces acquired. Throughput in 2022 was 86 Mtpa (nameplate capacity for the concentrator is 85 Mtpa). First Quantum has completed construction for the 100 Mtpa Expansion project (“CP100”). The project facilities are currently in commissioning and ramp up will now continue over the course of the year to achieve an expected throughput rate of 100 Mtpa by the end of 2023. As at the end of December 2022, the mine life is 32 years. 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ 223.3 $ 235.0 $ 135.4 M&I Resource (koz Au) 1, 2 7,159 7,396 7,318 Inferred Resource (koz Au) 1, 2 1,296 1,301 1,133 P&P Reserves (koz Au) 1, 2 6,861 7,104 7,298 M&I Resource (Moz Ag) 1, 2 149.2 152.9 153.5 Inferred Resource (Moz Ag) 1, 2 38.0 38.1 36.4 P&P Reserves (Moz Ag) 1, 2 128.8 133.0 135.5 M&I Royalty Ounces (000s) 1, 2, 3 4,758 4,973 5,010 Inferred Royalty Ounces (000s) 2, 3 750 769 706 P&P Royalty Ounces (000s) 2, 3 4,532 4,743 4,893 1 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 Mineral Reserves and Mineral Resources and the related Royalty Ounces are based on publicly disclosed information as of March 9, 2023 and do not reflect First Quantum’s updated estimate 3 For Royalty Ounce calculation, Franco-Nevada assumes 88% of the Mineral Resources and Mineral Reserves are subject to our stream interest. Silver has been converted into Royalty Ounces assuming $1,800/oz gold and $21.00/oz silver ($1,800/oz gold and $23.00/oz silver in 2021, $1,750/oz gold and $25.00/silver in 2020) and a 62% (62% in 2021, 62% in 2020) factor has been applied to obtain a Royalty Ounce for the P&P category, a 62% (62% in 2021, 62% in 2020) factor has been applied for Royalty Ounces in the M&I category and a 50% factor has been applied for Royalty Ounces in the Inferred category Cobre Panama is one of the world’s largest copper-gold- silver porphyry deposits in operation and is 90% owned by First Quantum Minerals Ltd. (“First Quantum”) and 10% by Korea Mine Rehabilitation & Mineral Resources Corp. (“KOMIR”). Cobre Panama, Panama

Central America and Mexico 38 TSX / NYSE: FNV Franco-Nevada Corporation Overview Overview Precious Metals Camp Caribbean Sea Punta Rincón River Caimito N km 0 4 Cobre Panama Plant Site Concession Boundary Power Transmission 230 kv line Property located approximately 20 km from Caribbean Sea * Cobre Panama Project Panama City Panama Canal Pacific Ocean Caribbean Sea Port and Powerplant Balboa Pit Colina Pit Valle Grande Pit Botija Pit Brazo Pit Medio Pit Botija Abajo Pit Cobre Panama is one of the world’s largest copper porphyry deposits. It’s location near tidewater allows a very low cost operation. The delivery of precious metals to Franco-Nevada is initially indexed to the copper in concentrate shipped. In 2022, Cobre Panama produced 350 kt of copper. Franco-Nevada sold 123,769 GEOs from the mine in 2022, compared to 131,062 GEOs in 2021. In 2023, Franco-Nevada expects GEO sales from its Cobre Panama stream to be between 115,000 and 135,000 GEOs based on First Quantum’s January 16, 2023 guidance of between 350,000 and 380,000 tonnes of copper production, and accounting for a larger allowance for the impact of shipment timing for the year following the restriction of concentrate shipments in February. First Quantum announced on March 8, 2023 that a draft concession contract with the Government of Panama was finalized; the agreement is in a ratification process. The concession contract will have an initial 20-year term, with a 20-year extension option and additional extensions for the life of mine. Expansion to achieve target throughput of 100 Mtpa during 2023 Concession covers an area of approximately 130 km 2 Low-cost operation close to tidewater

Central America and Mexico 39 Franco-Nevada Corporation TSX / NYSE: FNV Mineral Resources and Mineral Reserves Additional Information Diversified Assets Guadalupe-Palmarejo Location: Mexico, Central America and Mexico Operator: Coeur Mining, Inc. Precious Metals: Au Stream: 50% Gold Stream Guadalupe-Palmarejo Gold Stream Palmarejo Agua Salada Mill Guadalupe Mine Complex Independencia East km 0 4 Perimeter of gold stream property La Nación La Bavisa Independencia West Zapata La Patria Independencia Mine Complex Non-stream ground Pacific Ocean NM TX CA AZ MEXICO Guadalupe- Palmarejo each ounce delivered under the new gold stream agreement. The new agreement improved mine economics for Coeur and helped extend the mine life of the entire Palmarejo operation. The agreement applies to a land position totaling over 1,200 km 2 . Franco-Nevada provided an upfront $22 million deposit which was used to partially fund the development of the Guadalupe underground mine on the Palmarejo property. Franco-Nevada sold 41,000 ounces of gold from the mine in 2022, compared to 46,506 ounces of gold in 2021. Palmarejo has a mill throughput capacity of 7 ktpd and in 2022 produced 6.7 Moz of silver and 107 koz of gold. Coeur’s 2023 production guidance for Palmarejo is between 100 koz and 112.5 koz of gold and 6.5 and 7.5 Moz of silver. In 2023, Franco-Nevada expects sales from the Guadalupe-Palmarejo stream to be between 35,000 and 40,000 GEOs, as less production is anticipated to be sourced from ground covered by our stream during the year. Mineral Reserves grew by approximately 8% in 2022 versus the previous 2021 estimate, net of depletion. Franco-Nevada estimates that over 80% of the existing Mineral Resources and Mineral Reserves are covered by the stream agreement. Exploration success has grown Mineral Resources and Mineral Reserves Mineral Reserves grew by approximately 8% in 2022 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ 74.2 $ 83.4 $ 79.0 M&I Resource (koz Au) 1 2,127 1,931 1,462 Inferred Resource (koz Au) 1 380 246 280 P&P Reserves (koz Au) 1 953 884 849 M&I Royalty Ounces (000s) 1, 2 535 467 342 Inferred Royalty Ounces (000s) 2 102 60 66 P&P Royalty Ounces (000s) 2 241 211 194 1 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 For Royalty Ounce calculation, Franco-Nevada estimates 91% of the Mineral Reserves (86% in 2021, 84% in 2020), 89% of the exclusive M&I Mineral Resource (90% in 2021, 89% in 2020) and 97% of the Inferred Mineral Resource (88% in 2021, 87% in 2020) are subject to our 50% stream interest. The stream interest has been factored by 56% to reflect $1,800 per ounce gold ($1,800/oz gold in 2021, $1,750/oz gold in 2020) and $800 per ounce ongoing payments (56% in 2021, 54% in 2020) Since January 2009, Franco-Nevada has received 50% of the gold produced from the Palmarejo operation located in Chihuahua Province, Mexico which is owned and operated by Coeur Mining, Inc. (“Coeur”). Palmarejo is an underground silver project with a considerable gold by-product. Starting in 2009, Franco-Nevada Mexico received 50% of the gold produced from Palmarejo in return for a $75 million investment. The original contract was terminated in 2014 and Coeur fulfilled its obligation under that agreement in the third quarter of 2016, once they delivered the minimum ounce obligation of 400,000 ounces of gold. In June 2014, Franco-Nevada (Barbados) Corporation, a subsidiary of Franco-Nevada, entered into a new 50% gold stream with Coeur on the Palmarejo project with ongoing payments equal to the lesser of $800 per ounce (no inflation provision) and the then prevailing spot price for gold for Guadalupe-Palmarejo, Mexico

40 TSX / NYSE: FNV Franco-Nevada Corporation Overview Overview Precious Metals Sterling Robinson Fire Creek Bald Mountain Marigold Midas Goldstrike Gold Quarry South Arturo Hollister Nevada Castle Mountain Mesquite Nevada Stibnite Gold Stillwater Granite Creek (Pinson) Producing Advanced United States

41 Franco-Nevada Corporation TSX / NYSE: FNV United States Mineral Resources and Mineral Reserves Additional Information Diversified Assets Stillwater Wyoming Washington BC AB SK MB North Dakota Nebraska Nevada Oregon Idaho Utah California Colorado Montana South Dakota Stillwater Location: Montana, United States Operator: Sibanye-Stillwater Precious Metals: PGM Royalty: NSR: 5% N Stillwater Complex (Plan View) 5% NSR Franco-Nevada Royalty Land Franco- Nevada Royalty Franco- Nevada Royalty East Boulder Portal Site East Boulder Adit Stillwater Mill Site Camp Lake Boulder River East Boulder River Dry Fork Creek Lewis Gulch West Fork Stillwater Stillwater River Limit of Claims Sweetgrass Co. Park Co. Stillwater Co. Sweetgrass Co. 1 mile County line Stillwater Complex (Long Section) Not to scale Current and future planned production layouts Non-Royalty mill area Stillwater East (Blitz) Stillwater West East Boulder Mine require engineered backfill as well as geologically and geotechnically more complex mining at East Boulder. Factoring in these operational constraints at the Stillwater complex, 2023 PGM production is forecast to be between 500,000 to 535,000 ounces. Stillwater East (the Blitz project), located east of the Stillwater mine (Stillwater West) and covered by the NSR, commenced production in October 2017. Stillwater East continues to ramp up despite various operational challenges. The 2022 U.S. PGM update from Sibanye-Stillwater highlighted that the Benbow flooding, challenging ground conditions and critical skills shortages impeded production build up at Stillwater East. Sibanye-Stillwater plans to build a $30 million engineered backfill solution plant and commission it by 2025. The steady state run rate from Stillwater East is expected to be approximately 170,000 ounces per annum starting in 2026. In 2022, Sibanye-Stillwater performed a comprehensive update of the Mineral Resource and Mineral Reserve estimation methodology at the Montana operations. While this resulted in a downward revision to the Mineral Reserves, the Mineral Reserves continue to support a 42 year mine life building up to +700 koz of annual production from 2027. Significant Mineral Resources have the potential to increase mine life even further in the future. Only PGM producer in the U.S. Mineral Reserves support a long mine life Significant Mineral Resource has the potential to increase mine life even further 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ 36.8 $ 57.8 $ 50.9 M&I Resource (koz PGM) 1 39,400 45,000 35,747 Inferred Resource (koz PGM) 1 44,800 44,600 45,327 P&P Reserves (koz PGM) 1 26,300 27,300 26,883 M&I Royalty Ounces (000s) 1, 3 1,316 2,040 1,739 Inferred Royalty Ounces (000s) 2, 3 1,497 2,021 2,205 P&P Royalty Ounces (000s) 2, 3 879 1,237 1,308 1 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 For Royalty Ounce calculation, Franco-Nevada estimates 98% of the Mineral Resources and Mineral Reserves are subject to our royalty interest 3 Given more significant smelting and refining charges, Franco-Nevada estimates an average rate of 4.50% is applicable (assuming 10% for charges) and PGM ounces converted into Royalty Ounces assuming $900/ounce Pt and $1,500/ounce Pd ($1,000/ounce Pt and $2,100/ounce Pd in 2021, $1,100/ounce Pt and $2,200/ounce Pd in 2020) The Stillwater complex in Eastern Montana is comprised of the Stillwater mine (West and East) and East Boulder mine and is operated by Sibanye-Stillwater, following the acquisition of Stillwater Mining Company by Sibanye Gold Limited in May 2017. Production began in 1986 at the Stillwater mine and in 2002 at the East Boulder mine. Both are PGM mines with the majority of production being palladium. Franco-Nevada has a 5% NSR royalty on all commercially recoverable metals produced from 813 of the 995 claims that cover the Stillwater complex. The amount of the royalty is reduced by permissible “onward processing” deductions, which have averaged between 5-10% of revenue over the last several years. Based on Franco-Nevada’s estimates, the NSR royalty currently covers 98% of the Stillwater Mineral Reserves and 100% of the East Boulder Mineral Reserves. In recent years, the percentage of Stillwater complex production subject to Franco-Nevada’s royalty has increased well above 90% as mining moves away from the shaft area towards royalty ground. PGM production for 2022 yielded 421,133 ounces versus 570,400 ounces in 2021. Production in 2022 was affected by the June regional flooding event, temporary suspension of mining Stillwater East areas that Stillwater, Montana

42 TSX / NYSE: FNV Franco-Nevada Corporation United States Overview Overview Precious Metals Goldstrike Location: Nevada, United States Operator: Nevada Gold Mines LLC Precious Metals: Au Royalty: NSR: 2-4% / NPI: 2.4-6% N Goldstrike Mine Goldstrike Open Pit Mine Goldstrike Underground Mine Meikle/Rodeo SJ 6% NPI SPLC Lease 6% NPI Post 5% NPI 4% NSR Goldstrike 5% NPI 4% NSR Bazza 2% NSR Bazza Strip 2% NSR 2.4% NPI Royal 3% NSR Extension 5% NPI 4% NSR Gold Bug 5% NPI 4% NSR Corbett 2% NSR Pandora 2% NSR Weimer 4% NSR Rodeo Creek 4% NSR Above 4600’ 1 mile Goldstrike Pacific Ocean Oregon Idaho Utah Nevada California Arizona MEXICO The Goldstrike complex is located on the Carlin Trend, about 60 km northwest of the town of Elko, Nevada and includes the open-pit Betze- Post mine, as well as the underground operations of Meikle and Rodeo immediately to the north. Mining activity commenced on the property in 1976 and, since 1987, has been operated by Barrick. Franco-Nevada holds both NSR (2-4%) and NPI (2.4-6%) royalties at Goldstrike covering over 50% of the reported Mineral Reserves. This estimate includes low-grade ore that has been stockpiled. The royalties vary depending on the claim blocks, operating costs and capital investments, as shown in the schematic. As a result, royalty payments can vary substantially on a quarterly basis. Franco-Nevada anticipates royalty production in 2023 to be similar to that of 2022. On July 1, 2019, Barrick (61.5%) and Newmont Corporation (“Newmont”) (38.5%) combined their significant assets across Nevada to create Nevada Gold Mines as a joint venture. Under this joint venture, Goldstrike is reported as part of the Carlin operation category by Barrick. Barrick announced 2022 production of 966,000 gold ounces from its 61.5% share of Carlin which includes Goldstrike, Gold Quarry and South Arturo as well as other properties where Franco-Nevada has no royalty interests. Nevada Gold Mines noted that Carlin gold production for 2022 was 5% higher compared to 2021, mainly due to higher roaster production after recovering from the mill failure at the Goldstrike roaster in May 2021. Nevada Gold Mines also noted that there will be major roaster maintenance and the autoclave CIL conversion in Q1 2023 at Goldstrike. Barrick has reported 2023 production guidance of 910,000 to 1,000,000 gold ounces from its 61.5% share of Carlin. Exploration projects being contemplated to provide upside in the future include a Goldstrike underground expansion and the potential Goldstrike 6NW open-pit layback. World class gold operation Focus asset for Barrick with substantial invested capital Profit royalties provide more leverage to gold prices Carlin Trend 2022 2021 2020 M&I Resource (koz Au) 1, 2 30,894 30,894 30,894 Inferred Resource (koz Au) 1, 2 8,943 7,480 2,602 P&P Reserves (koz Au) 1, 2 16,260 17,886 19,512 M&I Royalty Ounces (000s) 1, 3 324 324 324 Inferred Royalty Ounces (000s) 3 94 79 27 P&P Royalty Ounces (000s) 3 171 188 205 1 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Resource category for Carlin Trend; all M&I categories are inclusive of Mineral Reserves 2 Under the Nevada Gold Mines joint venture, Barrick now reports Goldstrike, Gold Quarry and South Arturo as part of the Carlin operation category. Mineral Resources and Mineral Reserves include Goldstrike, Gold Quarry and South Arturo as well as other properties where Franco-Nevada has no royalties or stream interests 3 For Royalty Ounce calculation, Franco-Nevada estimates 35% of the Carlin Trend Mineral Resources and Mineral Reserves are subject to our royalty interests on Goldstrike, Gold Quarry and South Arturo and estimates an average royalty rate of 3.0% is applicable Goldstrike Au 2022 2021 2020 Total NSR Revenue to FNV ($ million) $ 5.5 $ 3.9 $ 5.2 Total NPI Revenue to FNV ($ million) $ 13.7 $ 21.4 $ 15.5 Total Revenue to FNV ($ million) $ 19.2 $ 25.3 $ 20.7 M&I Resource (koz Au) 1 n/a n/a n/a Inferred Resource (koz Au) 1 n/a n/a n/a P&P Reserves (koz Au) 1 n/a n/a n/a M&I Royalty Ounces (000s) 2, 3 n/a n/a n/a Inferred Royalty Ounces (000s) 3 n/a n/a n/a P&P Royalty Ounces (000s) 3 n/a n/a n/a 1 Please refer to the table above for the Carlin Trend Mineral Resources and Mineral Reserves which include Goldstrike 2 All M&I categories are inclusive of Mineral Reserves 3 Please refer to the table above for the Carlin Trend Royalty Ounce calculation which includes Goldstrike Franco-Nevada holds royalties covering the majority of the Nevada Gold Mines LLC (“Nevada Gold Mines”) Goldstrike complex operated by Barrick Gold Corporation (“Barrick”). Goldstrike, Nevada

43 Franco-Nevada Corporation TSX / NYSE: FNV United States Mineral Resources and Mineral Reserves Additional Information Diversified Assets Gold Quarry Location: Nevada, United States Operator: Nevada Gold Mines LLC Precious Metals: Au Royalty: NSR: 7.29% N Gold Quarry Mine 7.29% NSR Gold Quarry Open Pit 0.5 mile Potential Greater Gold Quarry Expansion West Wall Layback 7.29% NSR Gold Quarry Pacific Ocean Oregon Idaho Utah Nevada California Arizona MEXICO were further optimized based on process routing options made possible with the multiple processing facilities available following the formation of Nevada Gold Mines. A key driver for growth at the asset is the expansion of the Gold Quarry roaster. In the past, the operation has considered pit expansions including the West Wall Layback and the Greater Gold Quarry Expansion. In 2022, Franco-Nevada’s prepaid ounces delivered by Gold Quarry exceeded the Gold Quarry known Mineral Reserves resulting in lower expected future minimum payments. Going forward, Franco- Nevada expects its royalty from Gold Quarry to be 1,350 GEOs per annum based on the minimum payment obligation. Annual minimum payment obligations Benefits from additional milling and roasting infrastructure following the formation of Nevada Gold Mines Registered on private lands 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ 4.9 $ 7.5 $ 10.7 M&I Resource (koz Au) 1, 2 n/a n/a n/a Inferred Resource (koz Au) 1 n/a n/a n/a P&P Reserves (koz Au) 1 n/a n/a n/a M&I Royalty Ounces (000s) 2, 3 n/a n/a n/a Inferred Royalty Ounces (000s) 3 n/a n/a n/a P&P Royalty Ounces (000s) 3 n/a n/a n/a 1 Please refer to the table on page 42 for the Carlin Trend Mineral Resources and Mineral Reserves which include Gold Quarry 2 All M&I categories are inclusive of Mineral Reserves 3 Please refer to the table on page 42 for the Carlin Trend Royalty Ounce calculation which includes Gold Quarry The Gold Quarry operation is part of the Nevada Gold Mines Carlin operations in north-central Nevada. It is a large open-pit mine that has been in production since 1985 supplying ore as part of an integrated mining and processing complex. In 2019, Barrick (61.5%) and Newmont (38.5%) combined their significant assets across Nevada to create Nevada Gold Mines as a joint venture. Under this joint venture, Barrick reports Gold Quarry under its Carlin operations category and Newmont reports Gold Quarry under its Nevada Gold Mines category. Franco-Nevada’s royalty interest covers only a portion of the Gold Quarry property, as shown in the schematic. The Gold Quarry royalty is a 7.29% NSR based on production with a minimum payment obligation. The annual minimum royalty payment calculation is tied to Mineral Reserves and stockpiles attributed to the Gold Quarry royalty property. Through optimized pit shells, Gold Quarry was able to deliver year-over-year total open-pit resource growth in 2022. Notably, mineral resource estimates Gold Quarry, Nevada

44 TSX / NYSE: FNV Franco-Nevada Corporation United States Overview Overview Precious Metals Marigold Location: Nevada, United States Operator: SSR Mining Inc. Precious Metals: Au Royalty: NSR: 1.75-5% / GR: 0.5-4% N Valmy 5 North Deposit 8 North Deposit Terry Pit Target Pit E. Basalt and Battle Cry Targets Antler and Basalt Pits (Backfilled) Marigold Mine Terry Zone North 1.75% NSR 1.75% NSR 1.75% NSR 1.75% NSR 5% NSR 5% NSR 5% NSR 5% NSR 5% NSR 5% NSR 5% NSR 5% NSR 5% NSR 5% NSR 5% NSR 5% NSR 3% NSR* 3% NSR* 3% NSR* 2.5%-4% GR* 2.5%-4% GR* 2.5%-4% GR* 2.5%-4% GR* 2.5%- 4% GR* 5% NSR 1.75% NSR *December 2009 Acquisition Schematic Representation Only 1 Mile 0.5%-1.5% GR* Mackay Pit Valmy and Mud Pits Hideout 8D 8SX Pits Exploration Targets N Valmy 5 North Deposit 8 North Deposit Terry Pit Target Pit E. Basalt and Battle Cry Targets Antler and Basalt Pits (Backfilled) Marigold Mine Terry Zone North 1.75% NSR 1.75% NSR 1.75% NSR 1.75% NSR 5% NSR 5% NSR 5% NSR 5% NSR 5% NSR 5% NSR 5% NSR 5% NSR 5% NSR 5% NSR 5% NSR 5% NSR 3% NSR* 3% NSR* 3% NSR* 2.5%-4% GR* 2.5%-4% GR* 2.5%-4% GR* 2.5%-4% GR* 2.5%- 4% GR* 5% NSR 1.75% NSR * December 2009 Acquisition Schematic Representation Only 1 mile 0.5%-1.5% GR* Mackay Pit Valmy and Mud Pits Hideout 8D 8SX Pits Exploration Targets Red Dot Red Dot 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ 7.5 $ 8.5 $ 7.1 M&I Resource (koz Au) 1 5,004 5,004 4,942 Inferred Resource (koz Au) 1 252 252 182 P&P Reserves (koz Au) 1 3,410 3,410 3,887 M&I Royalty Ounces (000s) 1, 2 126 154 155 Inferred Royalty Ounces (000s) 2 6 8 6 P&P Royalty Ounces (000s) 2 86 106 122 1 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 For Royalty Ounce calculation, Franco-Nevada estimates 97% of the Mineral Reserves (96% in 2021, 98% in 2020), 96% of the M&I Mineral Resources (97% in 2021, 98% in 2020) and 97% of the Inferred Mineral Resources (96% in 2021, 98% in 2020) are subject to our royalty interest and estimates a rate of 2.59% is applicable The Marigold mine is located approximately 64 km southeast of Winnemucca, Nevada on the Battle Mountain-Eureka Trend and is operated by SSR Mining Inc. (“SSR Mining”). The mine has been in continuous production since 1989 and is a large run-of-mine heap leach operation with several open pits. Franco-Nevada has various royalties on the operation (1.75-5% NSR and 0.5-4% GR), as shown in the schematic, together covering a significant portion of the current Mineral Reserve base. Franco-Nevada’s original royalties were acquired in connection with its IPO and, in December 2009, additional royalties covering alternate sections were added. In 2022, 18,061 kt of ore were placed on pads at a grade of 0.56 g/t versus 19,999 kt of ore placed on pads at a grade of 0.41 g/t in 2021. The mine produced 194,668 ounces of gold in 2022 versus 235,282 ounces in 2021. For 2023, SSR Mining expects production to be between 260,000 to 290,000 ounces, with production of between 215,000 to 245,000 ounces in 2024. The current life of mine plan predicts a 10-year mine life, with life of mine production of 2.3 million ounces of gold and average annual production of 225,000 ounces over the next three years. Royalty payments to Franco-Nevada will fluctuate depending on the royalty ground being mined. SSR Mining’s strategy to advance brownfields targets proximal to existing infrastructure continues to yield encouraging results and the company plans to continue its exploration drilling in 2023 with a $26 million budget. Currently, the focus will be on higher-grade oxides, resource expansion and conversion at New Millennium, Mackay, Valmy, Trenton Canyon and Buffalo Valley, the majority of which are not on Franco- Nevada royalty ground. The Marigold mine has produced in excess of four million ounces Continued resource expansion and encouraging exploration results Marigold Pacific Ocean Oregon Idaho Utah Nevada California Arizona MEXICO Marigold, Nevada

45 Franco-Nevada Corporation TSX / NYSE: FNV United States Mineral Resources and Mineral Reserves Additional Information Diversified Assets Bald Mountain Location: Nevada, United States Operator: Kinross Gold Corporation Precious Metals: Au Royalty: NSR/GR: 0.875-5% Bald Mountain Mine North Block South Block Excluded from Royalty * Subject to possible reduction by third-party royalty Galaxy Poker Flats Bida Saga Yankee Targets Lux/Vantage Targets Top Sage Flats Belmont Horseshoe 4% NSR 4% NSR 4% NSR 4% NSR 4% NSR* 4% NSR* 4% NSR* 4% NSR* 4% NSR* 4% NSR* 4% NSR* 0.875 to 1.75% NSR 2.418% NSR Royale 1%-5% GR Redbird 5 1 LJ Ridge Banghart South Ridge Rat North Duke South Duke 2/3 1%-5% GR Winrock N km 0 2 North Block South Block 0 1 N Red 5 2/3 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ 8.4 $ 11.2 $ 11.2 M&I Resource (koz Au) 1 4,353 4,390 4,735 Inferred Resource (koz Au) 1 522 669 695 P&P Reserves (koz Au) 1 625 798 1,143 M&I Royalty Ounces (000s) 1, 2 101 139 143 Inferred Royalty Ounces (000s) 2 11 23 23 P&P Royalty Ounces (000s) 2 22 16 22 1 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 For Royalty Ounce calculation, Franco-Nevada estimates 91% of Mineral Reserves (95% in 2021, 93% in 2020) and 96% of Mineral Resources (exclusive of Mineral Reserves) (95% in 2021, 93% in 2020) are subject to our royalty interest and estimates an average rate of 3.92% is applicable for Mineral Reserves and 2.20% for Mineral Resources (exclusive of Mineral Reserves) The Bald Mountain mine lies within the Southern Ruby Mountains of northeastern Nevada along the southern extension of the prolific Carlin Trend, approximately 110 km southeast of Elko. Ore is sourced from multiple open pits over an estimated 600 km 2 property with processing at multiple conventional heap leaching facilities. Bald Mountain is the largest mine site by area in the U.S. It stretches 40 km north to south and 15 km east to west and is divided in three zones: North Zone, South Zone and JV Zone. Franco-Nevada’s Bald Mountain royalties cover a significant portion of the Bald Mountain property. Royalty rates range from 0.875%-5% NSR/GR. A detailed map of the royalties is shown in the schematic. At the end of 2015, Kinross Gold Corporation (“Kinross”) purchased from Barrick 100% of the North and South Zones while forming a 50/50 exploration joint venture partnership with Barrick on the JV Zone in between the North and South Zones. During 2018, Kinross acquired the remaining 50% portion of the JV area that it did not already own. In 2022, 15,924 kt of ore were placed on pads at Bald Mountain at a grade of 0.50 g/t versus 19,063 kt of ore at a grade of 0.51 g/t in 2021. Bald Mountain produced 214,094 ounces in 2022, a slight increase from the 204,890 ounces produced in 2021, mainly due to timing of ounces recovered from the heap leach pads. The large scale of the Bald Mountain land package offers significant exploration upside, with multiple known mineralized bodies. In 2022, approximately 8,150 meters of drilling was completed over six target areas. A priority exploration focus was on building volume for the high-grade top underground potential resource along with growing the nearby deposits. Drilling advanced the Zed Williams target, located southeast of the previously mined Numbers pits. It is primarily near- surface and consists of thick intervals of low-grade mineralization over a broad area. The Juniper Project EIS was advanced during the year with the completion of the public scoping period in May 2022. The next steps of the process will be the publishing of the Draft EIS, Final EIS and Record of Decision. The Juniper Project would modify and expand operations within the North Operations Area (NOA) resulting in 3,969 acres of new surface disturbance and extension of the NOA mine life by 11 years. Large land package and significant exploration upside Potential to add significant mine life Bald Mountain Pacific Ocean Oregon Idaho Utah Nevada California Arizona MEXICO Bald Mountain, Nevada

46 TSX / NYSE: FNV Franco-Nevada Corporation United States Overview Overview Precious Metals South Arturo Location: Nevada, United States Operator: Nevada Gold Mines LLC Precious Metals: Au Royalty: GR: 4-9% with AMR Dee 4-9% GR South Arturo Excluded from Royalty N 1 mile Phase 1 Pit Phase 3 Pit Phase 2: Open pit completed El Nino U/G: Currently developing East Dee Target South Hinge Target Franco-Nevada holds a sliding scale gross royalty (4-9%) on production from South Arturo. The royalty rate depends on the type of ore (oxide versus non-oxide), as well as the grade (for oxide only). Franco-Nevada estimates a 4% royalty rate for the oxide mineralization and a 6% royalty rate for the non-oxide. The royalty agreement includes an annual minimum payment which is credited against any future production royalty payments. Commercial production at South Arturo’s El Niño mine was declared at the end of Q3 2019. The mine is located in close proximity to Nevada Gold Mines’ Goldstrike operations where the ore is processed at the refractory facilities. In July 2019, Barrick (61.5%) and Newmont (38.5%) combined their significant assets across Nevada to create Nevada Gold Mines as a joint venture. Under this joint venture, South Arturo is reported as part of the Carlin operation category by Barrick. Production from El Niño and the Phase 1 pit began in 2019 and mining of the Phase 1 pit was suspended in December 2019 awaiting roasting capacity at Goldstrike. Nevada Gold Mines announced that the South Arturo open pit returned to production in December 2022. In January 2021, Premier Gold Mines Limited (“Premier”), the predecessor to i-80 Gold, released a positive prefeasibility study which included the underground El Niño mine and the proposed Phase 1 open pit. Based on the prefeasibility study, El Niño had a two-year mine life with 58,750 recoverable ounces and Phase 1 had an 18-year mine life with 664,000 recoverable ounces and production targeted to begin in 2025. In May 2021, i-80 Gold reported that the development of a ramp at El Niño was expected to be completed in Q1 2023 to access deeper mineralization. Exploration drilling by Nevada Gold Mines in 2021 and 2022 identified extensions to the north, northwest and east of the of the orebody. A follow-up program is planned for 2023. Consolidated ownership Year-over-year resource growth Exploration success around newly recognized controlling structure at El Niño 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ 3.9 $ 5.6 $ 6.2 M&I Resource (koz Au) 1, 2 n/a n/a n/a Inferred Resource (koz Au) 1 n/a n/a n/a P&P Reserves (koz Au) 1 n/a n/a n/a M&I Royalty Ounces (000s) 2, 3 n/a n/a n/a Inferred Royalty Ounces (000s) 3 n/a n/a n/a P&P Royalty Ounces (000s) 3 n/a n/a n/a 1 Please refer to the table on page 42 for the Carlin Trend Mineral Resources and Mineral Reserves which include South Arturo 2 All M&I categories are inclusive of Mineral Reserves 3 Please refer to the table on page 42 for the Carlin Trend Royalty Ounce calculation which includes South Arturo South Arturo consists of a series of sediment hosted Carlin- style gold deposits adjacent to and including the former Dee gold mine, 60 km northwest of Elko, Nevada. Nevada Gold Mines acquired the 40% interest in South Arturo that it did not already own from i-80 Gold Corp. (“i-80 Gold”) effective June 1, 2021. The transaction provided Nevada Gold Mines with 100% of the project and all of the longer-term upside at the South Arturo pit and the El Niño underground, as well as flexibility to pursue other potential operational synergies at Goldstrike. South Arturo Pacific Ocean Oregon Idaho Utah Nevada California Arizona MEXICO South Arturo, Nevada

47 Franco-Nevada Corporation TSX / NYSE: FNV United States Mineral Resources and Mineral Reserves Additional Information Diversified Assets Mesquite Location: California, United States Operator: Equinox Gold Corp. Precious Metals: Au Royalty: NSR: 0.5-2% N Mesquite Mine Big Chief Rainbow Vista $500 Gold Pit 2% NSR 0.5% NSR Brownie 1% NSR 1 Mile 2021 ounces produced of 137,467. For 2023, Equinox Gold anticipates production of 80,000 to 90,000 ounces of gold, with approximately 60% of production coming in the second half of the year. Mining at Mesquite in 2023 will pivot to a small pit approach to reduce waste stripping, with ore being mined from Brownie Phase 3 and Vista East 3. While this will reduce ounces produced in 2023, efforts to establish additional Mineral Reserves through exploration and resource drilling will continue and Equinox will also continue the permitting required to enable mine life extensions beyond 2023. Mesquite has produced in excess of 5 Moz Ongoing resource expansion and planned leach pad extension 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ 4.1 $ 4.4 $ 4.2 M&I Resource (koz Au) 1 1,855 1,924 1,571 Inferred Resource (koz Au) 1 912 928 752 P&P Reserves (koz Au) 1 471 471 658 M&I Royalty Ounces (000s) 1, 2 34 31 25 Inferred Royalty Ounces (000s) 2 17 15 12 P&P Royalty Ounces (000s) 2 9 8 11 1 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 For Royalty Ounce calculation, Franco-Nevada estimates 100% of the Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates a rate of 1.85% is applicable Mesquite is a gold operation located in southeast California, approximately 70 km northwest of Yuma, Arizona and 230 km east of San Diego, California. The mine is an open-pit, run-of-mine, heap leach operation. Franco- Nevada holds royalties on the entire Mesquite mine property that range from a 0.5-2% NSR, depending on the claim block, as shown on the schematic. In 2022, 12,076 kt of ore were placed on pads at Mesquite at a grade of 0.42 g/t versus 9,740 kt of ore at a grade of 0.42 g/t in 2021. Mesquite produced 123,965 ounces of gold in 2022, a modest decrease from Mesquite Pacific Ocean Oregon Idaho Utah Nevada California Arizona MEXICO Mesquite, California

48 TSX / NYSE: FNV Franco-Nevada Corporation United States Overview Overview Precious Metals Castle Mountain Location: California, United States Operator: Equinox Gold Corp. Precious Metals: Au Royalty: NSR: 2.65%-4.65% Oro Belle Mined Pit Jumbo Mined Pit JSLA Mined Pit South Waste Dump West Waste Dump Heap Leach Pad Castle Mountain Royalty Area Royalty lands 2.65% NSR Pacific Clay claims Royalty 4.65% NSR Plus 10 Mile Area of Interest 1,000 metres 0 2,000 Castle Mountain Mine Las Vegas Los Angeles San Diego MEXICO CALIFORNIA NEVADA Castle Mountain Mine Nevada California * The Castle Mountain mining property is located in California, close to the Nevada border and is in the historic Hart Mining District, 120 km south of Las Vegas, Nevada. The mine is operated by Equinox Gold, which also owns the Mesquite mine described on page 47. NewCastle Gold Ltd. (“NewCastle”), a predecessor company to Equinox Gold, was the previous owner of the Castle Mountain property. The Castle Mountain land holdings total greater than 40 km 2 of patented and unpatented claims. The mine was previously operated by Viceroy Gold and MK Resources and produced over 1.2 million ounces of gold. Franco-Nevada currently holds a 2.65% NSR covering all of the existing Castle Mountain mine and extending 10 miles from the boundary of the mine. On May 2, 2022, Franco-Nevada acquired the ‘American Standard’ 2% NSR on the Pacific Clay claims, which comprise a portion of the JSLA pit. When combined with the 2.65% NSR, Franco-Nevada now has a 4.65% NSR on the Pacific Clay claims. Redevelopment of Castle Mountain is planned in two phases. Construction and commissioning of the Phase 1 mine was completed and commercial production was achieved in November 2020. Castle Mountain produced 23,227 gold ounces in 2022, slightly lower than the 25,270 ounces of gold produced in 2021. Equinox Gold anticipates production of 25,000 to 30,000 ounces of gold in 2023. A feasibility study for the Phase 2 expansion was released in March 2021. The Phase 2 project will expand ROM heap leaching and incorporate milling of higher-grade ore, increasing production to an average of 218,000 ounces per year and extending the total mine life to 21 years. Life-of-mine production including Phase 1 operations and end of mine life rinsing is estimated at 3.4 million ounces of gold. Phase 2 requires modification to Equinox Gold’s approved Mine and Reclamation Plan (“Plan”). The Plan amendment application was submitted to the lead agencies in early March 2022. The environmental review process and public scoping is anticipated to begin in the first half of 2023. Phase 1 production ongoing and planned to continue until Phase 2 Permitting Phase 2 expansion to increase production to >200,000 ounces per year Franco-Nevada’s royalty covers entire project area with a 10-mile area of interest 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ 1.1 $ 1.5 $ – M&I Resource (koz Au) 1 5,638 5,919 4,333 Inferred Resource (koz Au) 1 1,422 1,608 2,210 P&P Reserves (koz Au) 1 4,168 4,168 3,563 M&I Royalty Ounces (000s) 1, 2 149 157 115 Inferred Royalty Ounces (000s) 2 38 43 59 P&P Royalty Ounces (000s) 2 110 110 94 1 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 For Royalty Ounce calculation, Franco-Nevada estimates 100% of the Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates a rate of 2.82% is applicable Castle Mountain, California

49 Franco-Nevada Corporation TSX / NYSE: FNV United States Mineral Resources and Mineral Reserves Additional Information Diversified Assets Fire Creek/Midas Location: Nevada, United States Operator: Hecla Mining Company Precious Metals: Au & Ag Royalty: NSR: 2.5% Fire Creek/Midas Plan of Operations Midas Town Midas Royalty Area 2.5% NSR Royalty covered areas Plus Area of Interest (AOI) (not shown) Fire Creek/ Midas Pacific Ocean Oregon Idaho Utah Nevada California Arizona MEXICO N miles 0 1 N miles 0 1 Fire Creek Royalty Area 2.5% NSR Royalty (Fee Lands) Royalty (Unpatented Mining Claims) Fire Creek deposits Outline of Area of Interest (AOI) Production at the Midas mine was suspended in 2019 and at the Midas mill and Fire Creek mine in mid-2021. While both mines and the mill are currently on care and maintenance, in 2021 stockpiled non-refractory ore was processed at the Midas mill. Third-party processing of refractory ore was also conducted in a roaster and autoclave facility off site. In Q4 2021, Hecla announced exploration drilling at Midas had defined and expanded mineralization on the Sinter Structure and intersected high-grade gold and silver mineralization on two new structures, the Racer and Hanging Wall (HW1), both open along the East Graben Corridor. In 2022, Hecla performed $15.5 million of exploration and pre-development activities at their Nevada operations. Exploration work at Midas focused on the two miles of strike length along the East Graben Corridor. NSR royalty on two properties with large areas of interest Exploration focused on the two miles of strike length along the East Graben Corridor 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ 0.1 $ 1.0 $ 1.5 M&I Resource (koz Au) 1 92 94 125 Inferred Resource (koz Au) 1 3,185 3,185 2,994 P&P Reserves (koz Au) 1 – – 31 M&I Royalty Ounces (000s) 1, 2, 3 2 3 3 Inferred Royalty Ounces (000s) 2, 3 84 84 79 P&P Royalty Ounces (000s) 2, 3 – – 1 1 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral Reserves at Fire Creek and Midas are subject to our royalty interest and estimates an average rate of 2.5% is applicable 3 Silver has been converted to Royalty Ounces assuming $1,800/oz gold and $21.00/oz silver ($1,800/ oz gold and $23.00/oz silver in 2021, $1,750/oz gold and $25.00/oz silver in 2020) The Fire Creek and Midas mines are located in north central Nevada, at the cross-section of the Northern Nevada Rift and the Battle Mountain Trend. Fire Creek is a high-grade epithermal gold deposit consisting of a combination of private fee land and U.S. Bureau of Land Management (“BLM”) land for a total area of approximately 45 km 2 plus an area of interest in adjacent townships along strike with mineralization. Midas was discovered and constructed by Franco-Nevada’s predecessor company prior to its combination with Newmont. The Midas property position extends over private fee land and BLM land for a total area of 137 km 2 with an area of interest surrounding the property. The Fire Creek and Midas mines, along with the Hollister mine (discussed on page 50), are operated by Hecla Mining Company (“Hecla”) after Hecla acquired Klondex Mines Ltd. in 2018. After completion of a prepaid gold purchase agreement in 2018, Franco-Nevada now holds a 2.5% NSR royalty on both properties. Fire Creek/Midas, Nevada

50 TSX / NYSE: FNV Franco-Nevada Corporation United States Overview Overview Precious Metals Hollister Location: Nevada, United States Operator: Hecla Mining Company Precious Metals: Au Royalty: NSR: 3-5% N Hollister Project Hollister Deposit 5% Hollister/Ivanhoe USX Claims 3% NSR Hillcrest Finley River Block Hatter Graben Discovery USX Pits 1 mile In 2018 Hecla acquired Klondex, the previous operator, which included the Hollister mine, as well as the Fire Creek/Midas assets highlighted on page 49. In June 2019, Hecla announced that the Hollister mine would be placed on care and maintenance and it remained suspended through 2022. Exploration at Hollister has been focused on the definition of new exploration targets and Hecla remains committed to the exploration and definition of the Hatter Graben area. The Hatter Graben is expected to provide the future growth at Hollister and is one of the key reasons Hecla acquired Klondex. Underground exploration drilling at Hollister commenced in Q4 2021 and drilling from a new decline confirmed multiple new vein zones at the Hatter Graben. Hecla advanced the Hatter Graben decline in the first half of 2022 before they encountered an influx of water. Hydrogeology work and additional permitting will be required to handle the discharge that will be needed. Exploration decline at Hatter Graben advanced in 2022 to allow further exploration 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ – $ – $ – M&I Resource (koz Au) 1 51 51 51 Inferred Resource (koz Au) 1 273 273 273 P&P Reserves (koz Au) 1 – – – M&I Royalty Ounces (000s) 1, 2 2 2 2 Inferred Royalty Ounces (000s) 2 8 8 8 P&P Royalty Ounces (000s) 2 – – – 1 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates an average rate of 3.0% is applicable Hollister is a historic underground mine with past production of approximately 425,000 ounces. Franco-Nevada holds NSR royalties covering 28 km 2 of the Hollister project. Franco-Nevada holds a 3% NSR royalty on the Hillcrest Finley River Block claims and a 5% NSR on the Hollister/Ivanhoe USX Claims. In addition to these NSR royalties, Franco-Nevada holds a 1-3% sliding scale NSR on all claims, which is subject to gold price and production thresholds and is capped at $3.5 million. Hollister Pacific Ocean Oregon Idaho Utah Nevada California Arizona MEXICO Hollister, Nevada

51 Franco-Nevada Corporation TSX / NYSE: FNV United States Mineral Resources and Mineral Reserves Additional Information Diversified Assets Stibnite Gold Location: Idaho, United States Operator: Perpetua Resources Corp. Precious Metals: Au Royalty: NSR: 1.7% Stibnite Gold Royalty 1.7% NSR N mile 0 1 Mineral Resources Prospects Patented Claims under option Royalty Property Salt Yellow Pine Deposit West End Deposit Hangar Flats Deposit Historic Tailings Blow-out Mule Rabbit Scout Garnet Ridgetop Cinnamid Saddle Fern Upper Midnight Idaho Utah Nevada Boise Cascade McCall Coeur d'Alene Stibnite Gold Project Yellow Pine, Hangar Flats and West End deposits by conventional open pit. Based on the 2020 feasibility study, the Stibnite project would be the fourth largest U.S. gold operation and produce approximately 4-5 million ounces of gold based on total Mineral Resources and Mineral Reserves of approximately 6.3 million and 4.8 million ounces of gold, respectively. The United States Forest Service (“USFS”) released a Draft Environmental Impact Statement (“Draft EIS”) for public review in August 2020. Perpetua and the USFS advanced a modified proposed action that included stakeholder feedback on the Draft EIS, developed to decrease the project footprint and improve environmental conditions. The changes incorporated the elimination of waste rock storage areas, overall reductions in mined material, two access routes, additional pit backfilling and restoration, and improvements to water quality and water temperature. A Supplemental Draft EIS was published in October 2022 incorporating these changes to the original Draft EIS. A 75-day Supplemental Draft EIS comment period ended in January 2023 and Perpetua reported that over 15,000 positive comments were received on the project. The current project schedule assumes a final EIS and Draft Record of Decision is released by the end of 2023 and a final Record of Decision issued in early 2024. Commercial operations are expected in 2027. Perpetua Resources plans for restoration of the site to include progressive and concurrent remediation, beginning at the start of construction and continuing through operations and project closure. Extensive reclamation and restoration of historical mining impacts are planned, with permanent fish access having been restored for the first time in 80 years. One of the largest and highest grade undeveloped open-pit deposits in the U.S. The Stibnite project would be the only domestic source of antimony mined in the U.S. 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ – $ – $ – M&I Resource (koz Au) 1 6,320 6,034 6,034 Inferred Resource (koz Au) 1 1,611 1,246 1,246 P&P Reserves (koz Au) 1 4,816 4,819 4,819 M&I Royalty Ounces (000s) 1, 2 107 103 103 Inferred Royalty Ounces (000s) 2 27 21 21 P&P Royalty Ounces (000s) 2 82 82 82 1 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 For Royalty Ounce calculation, Franco-Nevada estimates 100% of the Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates a rate of 1.70% is applicable The Stibnite project is located in a historic mining town of the same name in Idaho, about 153 km northeast of Boise and is potentially one of the highest grade open-pit deposits in the U.S. The project is being advanced by Perpetua Resources Corp. (“Perpetua Resources”), formerly known as Midas Gold Corp., who have consolidated 107 km 2 of unpatented and patented claims. Franco-Nevada holds a 1.7% NSR on gold production. In December 2020, Perpetua Resources announced the results of a feasibility study on the Stibnite project. The project is expected to have a 15-year mine life with average annual gold production of 301,000 ounces per year. The first four years demonstrate an average annual gold production of 466,000 ounces per year. The project consists of mining the Stibnite Gold, Idaho

52 TSX / NYSE: FNV Franco-Nevada Corporation United States Overview Overview Precious Metals Sterling Granite Creek (Pinson) Location: Nevada, United States Operator: AngloGold Ashanti Precious Metals: Au Royalty: NSR: 0.25% Location: Pinson, United States Operator: i-80 Gold Corp. Precious Metals: Au Royalty: NSR: 1-2% Sterling is a historic gold operation located 185 km northwest of Las Vegas, Nevada near Beatty, Nevada. In 2022, AngloGold Ashanti acquired 100% of Coeur’s wholly owned subsidiary, Coeur Sterling, Inc., which owned the Sterling property. Franco-Nevada holds 1/8th of a 2% NSR, or an effective 0.25% NSR royalty, on approximately 272 lode mining claims with a small minimum advance royalty. Sterling underground mining operations were terminated at the end of May 2015. The acquisition consolidates AngloGold Ashanti’s ownership position in the Beatty District allowing for optimal development of the assets centered on developing the Silicon project. Franco-Nevada has not included Sterling in Royalty Ounce estimates The Granite Creek (Pinson) project is located near Winnemucca, Nevada, at the intersection of the Getchell Gold Belt and the Battle Mountain-Eureka Trend. Franco-Nevada holds a 1-2% NSR on approximately 20 sections within the Getchell trend. This royalty includes a 2% NSR on Section 33 and a 1% NSR on the southern half of Section 32 within Granite Creek’s operating area, formally known as Pinson. Granite Creek (Pinson) is south of Nevada Gold Mines’ Turquoise Ridge mine and 13 km from its Twin Creeks mine complex. The historic Pinson mine produced 985,000 ounces of gold from 1980 through 1999 by open-pit mining. Pinson was placed on care and maintenance in 2015. In August 2020, Premier Gold Mines USA, Inc. acquired the outstanding interests of Osgood Mining Company LLC (“Osgood”) from affiliates of Waterton Global Resource. In 2021, Equinox Gold acquired Premier. Concurrently, Premier spun-out its US-focused gold production and development assets into i-80 Gold, which included the Granite Creek project (previously known as the Pinson project). In February 2022, i-80 Gold announced that 2021 drilling was successful in delineating high- grade mineralization in multiple areas surrounding the existing mine workings. In July 2022, i-80 Gold announced they began shipping ore from operations at the Granite Creek Mine to Nevada Gold Mines, Twin Creeks processing facility, as per the Company’s toll-milling agreement. Mined material will be processed at the Twin Creeks facility until i-80 Gold’s Lone Tree facility is operational. Franco-Nevada’s royalty at Granite Creek does not cover the current underground workings. Franco-Nevada has not included Granite Creek (Pinson) in Royalty Ounce estimates

53 Franco-Nevada Corporation TSX / NYSE: FNV Mineral Resources and Mineral Reserves Additional Information Diversified Assets Island Gold Courageous Lake Musselwhite Hemlo Detour Lake Goldfields Timmins West Sudbury Kirkland Lake Golden Highway Canadian Malartic Cariboo Dublin Gulch (Eagle) Red Mountain Valentine Gold Greenstone Monument Bay Brucejack Eskay Creek Producing Advanced Magino Red Lake (McFinley) Canada

54 TSX / NYSE: FNV Franco-Nevada Corporation Canada Overview Overview Precious Metals Detour Lake Location: Ontario, Canada Operator: Agnico Eagle Mines Limited Precious Metals: Au Royalty: NSR: 2% Franco-Nevada has a 2% NSR royalty that covers an area of 140 km 2 of the Abitibi greenstone belt located 185 km northeast of Cochrane, Ontario including the Detour Lake mine. From 1983 through 1999, Placer Dome Inc. operated an underground mine on the property producing approximately 1.8 million ounces of gold. Detour Gold Corporation (“Detour Gold”) drilled out a large open pittable resource and developed the current open pit mine with first production in 2013. Detour Lake rivals Canadian Malartic as Canada’s largest gold mine. Kirkland Lake Gold Ltd. (“KLG”) acquired Detour Gold in 2020 and Agnico Eagle Mines Limited (“Agnico Eagle”) and KLG merged in February 2022, with the combined company continuing as Agnico Eagle. Production at Detour Lake was 732,572 ounces of gold in 2022, an annual record, compared with 712,824 ounces of gold in 2021. Production for Detour Lake is anticipated to be between 675,000 to 705,000 ounces of gold per year in 2023, 685,000 to 715,000 ounces in 2024 and 725,000 to 755,000 ounces in 2025. 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ 26.3 $ 25.3 $ 20.4 M&I Resource (koz Au) 1 38,638 29,752 20,432 Inferred Resource (koz Au) 1 1,156 1,196 1,470 P&P Reserves (koz Au) 1 20,683 15,034 15,775 M&I Royalty Ounces (000s) 1, 2 773 595 409 Inferred Royalty Ounces (000s) 2 23 24 29 P&P Royalty Ounces (000s) 2 414 301 316 1 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 For Royalty Ounce calculation, Franco-Nevada estimates 100% of the Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates a rate of 2.0% is applicable Detour Lake, Ontario

55 Franco-Nevada Corporation TSX / NYSE: FNV Canada Mineral Resources and Mineral Reserves Additional Information Diversified Assets Quebec Ontario Detour Lake Royalty Area 2% NSR 0.5-1% NSR Mine Property Block D N km 0 2.5 5 West Pit Gowest Property Main Pit Other Quebec royalty claims not shown Block E Zone 58N Block A Block B Block C North Pit Sunday Lake Deformation Zone Lower Detour Lake Deformation Zone Sunday Lake Deformation Zone North Pit Main Pit West Pit Detour Mine Trend Saddle Zone Detour Lake Mine km 0 1 Reserve Pit Outline Resource Pit Outline Current Pit Outline Current Pit Outline Detour Lake Quebec Ontario Mill expansion activities progressed as planned in 2022. In 2023, the focus remains on optimizing mill processes and improving runtime to achieve, and potentially surpass, a throughput rate of 28.0 million tonnes per year. Continued exploration success in 2022 resulted in the addition of 5.6 million ounces of gold in Mineral Reserves and an additional 3.2 million ounces in exclusive Measured and Indicated Mineral Resources. The Franco-Nevada royalty includes all the Mineral Resources and Mineral Reserves on the property, except Detour Zone 58N (approximately 0.5 million ounces) which sits to the south of the main mineralized trend. An updated technical evaluation announced in July 2022 outlined an expanded mine plan, extending the expected mine life by 10 years to 2052 and increasing longer term production rates. The study indicates average gold production of approximately 765,000 ounces per annum from 2026 to 2042 and then approximately 300,000 ounces per annum from 2043 to 2052 as stockpiles are processed at the end of the mine life. The Detour Lake mine continues to have strong exploration upside primarily to the west and at depth, suggesting potential for an underground mine and extensions to the current four open pits. In 2023, exploration is expected to focus on extending mineralization to the west and establishing an initial underground mineral resource in order to support potential underground mining operations. In 2023, Agnico Eagle expects to provide an update on the pathway to potentially increase production to one million ounces of gold per year. Significant Mineral Resource and Mineral Reserve increase in 2022 New life-of-mine plan extending mine life by 10 years to 2052 Agnico Eagle exploring pathway to one million ounces of gold per year

56 TSX / NYSE: FNV Franco-Nevada Corporation Canada Overview Overview Precious Metals Sudbury Location: Ontario, Canada Operator: KGHM International Ltd. Precious Metals: PGM and Au Stream: 50% Precious Metals Stream N Podolsky Levack (Morrison Deposit) McCreedy West Sudbury Igneous Complex Chelmsford Formation Onaping & Onwatin Formations Current and Former Mines Mill Smelter Stream Properties Sudbury Clarabelle Mill Smelter Strathcona Mill Creighton Copper Cliff Nickel Rim South Totten Coleman km 0 5 the Levack (Morrison Deposit), Podolsky and McCreedy West mines. The footwall deposits are primarily rich in palladium followed by platinum and gold. KGHM does not have processing facilities in Sudbury and sells the ore to third parties for processing. Currently all ore is being processed by Vale’s Clarabelle plant in Sudbury. McCreedy West Mine: The stream agreement applies to the PM and 700 deposits at the McCreedy West mine. McCreedy West stopped mining the precious metal-rich ores in the PM deposit in 2011. Franco-Nevada agreed to renegotiate the existing contract with KGHM and mining restarted in September 2018. In February 2021, KGHM approved an updated life of mine plan which extended mining operations at the McCreedy West mine for another five years. To support this extension of operations in mid-2021, Franco-Nevada agreed to increase its purchase price per GEO, from $800 per ounce to 60% of the prevailing monthly average gold spot price during periods when monthly average gold prices exceed $1,333 per ounce subject to a cap of $1,200 per ounce. McCreedy is expected to be the main source of revenue from Sudbury to Franco-Nevada in 2023. Levack (Morrison Deposit): This mine was put into production in 2007 but was placed on care and maintenance in Q1 2019. Podolsky Mine: The stream agreement applies to the 2000 and North deposits at the Podolsky mine which operated between 2008 and 2013. The mine is currently on care and maintenance but KGHM is reviewing the possible restart of the mine by 2025. 2022 2021 2020 PGM Revenue to FNV ($ million) $ 18.3 $ 14.6 $ 35.3 Gold Revenue to FNV ($ million) $ 3.1 $ 2.8 $ 4.8 Total Revenue to FNV ($ million) $ 21.4 $ 17.4 $ 40.1 PGM M&I Resource (koz PGM) 1 n/a n/a n/a PGM Inferred Resource (koz PGM) 1 n/a n/a n/a PGM P&P Reserves (koz PGM) 1 n/a n/a n/a Gold M&I Resource (koz Au) 1 n/a n/a n/a Gold Inferred Resource (koz Au) 1 n/a n/a n/a Gold P&P Reserves (koz Au) 1 n/a n/a n/a M&I Royalty Ounces (000s) 1, 2 24 24 33 Inferred Royalty Ounces (000s) 2 – – – P&P Royalty Ounces (000s) 2 24 24 33 1 KGHM does not provide public estimates for Mineral Resources and Mineral Reserves. Previous estimates have not been updated in numerous years and thus Franco-Nevada has chosen not to continue to report these figures 2 For Royalty Ounce calculation, Franco-Nevada estimates 5 years of mining (5 years in 2021, 5 years in 2020) from McCreedy West are subject to our 50% stream interest to which a 40% margin factor (40% in 2021, 54% in 2020) has been applied based on assumed ongoing payments of 60% of the spot price. Platinum and palladium have been converted to Royalty Ounces assuming $1,800/ounce Au, $900/ounce Pt and $1,500/ounce Pd ($1,800/ounce Au, $1,000/ounce Pt and $2,100/ounce Pd in 2021, $1,750/ounce Au, $1,100/ounce Pt and $2,200/ounce Pd in 2020). Note that this stream interest is calculated based on contained ounces in ore as there are no losses associated to metallurgical recoveries in the calculation of the Royalty Ounce Franco-Nevada has three precious metals streams in the Sudbury basin of Ontario. Franco-Nevada is entitled to purchase 50% of the precious metals contained in ore produced from the footwall portions of three separate mines subject to ongoing payments per ounce. The streams are calculated based on contained precious metals in the delivered ore rather than payable metals. The streams were acquired as part of Franco- Nevada’s acquisition of Gold Wheaton Gold Corp. (“Gold Wheaton”) in March 2011. At the time of acquisition by Franco-Nevada, the mines were operated by Quadra FNX Mining Ltd. (“Quadra FNX”) which was subsequently acquired by KGHM International Ltd. (“KGHM”) in March 2012. The three mines are Sudbury Quebec Ontario Sudbury, Ontario

57 Franco-Nevada Corporation TSX / NYSE: FNV Canada Mineral Resources and Mineral Reserves Additional Information Diversified Assets Hemlo Long Section ‘C’ Zone Pit Williams Shaft & Mill Surface Mined Area 3% NSR + 50% NPI ‘C’ Zone ‘B’ Zone 9975 9765 9555 9450 9240 9160 Mined Area Williams Mine Franco-Nevada Royalty Ground Hemlo Location: Ontario, Canada Operator: Barrick Gold Corporation Precious Metals: Au Royalty: NSR: 3% / NPI: 50% Production at Hemlo decreased from 150,000 ounces of gold in 2021 to 133,000 ounces of gold in 2022. All-in sustaining costs, which is important to take into consideration with respect to the NPI royalty, decreased to $1,788 per ounce in 2022 versus $1,970 per ounce in 2021. Barrick is forecasting 2023 estimated production of 150,000 to 170,000 ounces at an all-in sustaining cost of between $1,590 to $1,670 per ounce. Barrick announced that it expects production from Hemlo to increase in 2023 relative to 2022, but Franco-Nevada expects a lower proportion to be sourced from our royalty ground. Barrick also reported that a new pushback in the Hemlo open-pit was a significant contributor to reserve growth. Absent further exploration success, Franco-Nevada expects annual production from royalty ground to gradually reduce. Barrick conducted studies to better define the geological controls of the mineralization at Hemlo in 2022, improving growth targeting in the C and E Zones, where mineralization remains open at depth. Drilling continued at C Zone Deep during Q4 2022, aiming to extend the mineralization down plunge. Operational improvements expected in 2023 Profit royalties provide more leverage to gold prices Exploration targeting extensions of the Lower C Zone on royalty ground 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ 28.2 $ 27.6 $ 69.9 M&I Resource (koz Au) 1 3,600 2,600 3,300 Inferred Resource (koz Au) 1 580 820 900 P&P Reserves (koz Au) 1 1,700 1,100 1,500 M&I Royalty Ounces (000s) 1, 2 137 127 167 Inferred Royalty Ounces (000s) 2 22 40 46 P&P Royalty Ounces (000s) 2 65 54 76 1 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 For Royalty Ounce calculation, Franco-Nevada estimates approximately 20% of the publicly reported Mineral Resources and Mineral Reserves for Hemlo are on its royalty ground and estimates a rate of 3.81% (4.90% in 2021, 5.07% in 2020) is applicable when factoring our NSR and NPI interests. Please see page 15 for our methodology on calculating Royalty Ounces for an NPI The Hemlo gold mine has been in production for over 30 years and is located adjacent to the Trans-Canada highway near Marathon, Ontario. Barrick is the operator and manages both the open-pit and underground operations. Franco-Nevada has both a 3% NSR royalty and a 50% NPI royalty on a portion of the western down-dip underground extension, principally the Lower C Zone, of the Hemlo ore-body as shown in the longitudinal schematic. Mining on the royalty property began in late 2008, but revenues were limited to the 3% NSR royalty. The 50% NPI portion of the royalty began paying in the third quarter of 2012 after the upfront capital costs had been recovered by Barrick. Hemlo Quebec Ontario Hemlo, Ontario

58 TSX / NYSE: FNV Franco-Nevada Corporation Canada Overview Overview Precious Metals Brucejack Location: British Columbia, Canada Operator: Newcrest Mining Limited Precious Metals: Au & Ag Royalty: NSR: 1.2% km 0 2 Vancouver British Columbia Stewart Brucejack Property Brucejack Property Brucejack Lake West Zone Gossan Hill Zone Hanging Glacier Zone Bonanza Zone Flow Dome Zone Bridge Zone Shore Zone Golden Marmot Zone SG Zone Snowfield Brucejack Mine Valley of the Kings Brucejack Project Royalty Area 1.2% NSR Brucejack Property Covered by Royalty Not Covered by Royalty 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ 5.8 $ 7.0 $ 7.2 M&I Resource (koz Au) 1, 2 7,200 7,200 7,600 Inferred Resource (koz Au) 1, 2 3,100 3,100 3,100 P&P Reserves (koz Au) 1, 2 3,900 3,900 4,200 M&I Royalty Ounces (000s) 1, 2, 3 86 86 91 Inferred Royalty Ounces (000s) 2, 3 37 37 37 P&P Royalty Ounces (000s) 2, 3 47 47 50 1 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 Does not include silver Mineral Resources or Mineral Reserves 3 For Royalty Ounce calculation, Franco-Nevada estimates that 100% of the remaining Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates a rate of 1.2% is applicable In May 2013, Franco-Nevada purchased an existing 1.2% NSR royalty covering Newcrest Mining Limited’s (“Newcrest”) Brucejack gold project in northwestern British Columbia. The project includes two principal deposits, the Valley of the Kings and the West Zone. The mine was developed by Pretium Resources Inc.’s (“Pretium”) and commenced production in 2017. Newcrest acquired Pretium in early 2022. Brucejack produced 250,357 ounces of gold in the full 2022 calendar year with Newcrest expecting Brucejack to produce approximately 320,000 to 370,000 ounces of gold for the financial year ending June 30, 2023. Production at Brucejack was impacted by a temporary suspension of operations in October 2022 and gold production is expect to increase in H1 2023, driven by higher mill throughput. Pretium’s guidance in March 2020 stated a life of mine average annual production of approximately 311,000 ounces of gold with a 13-year mine life. Newcrest is advancing a debottlenecking concept study to potentially increase the process plant capacity from 3,800 tpd to between 4,500 and 5,000 tpd, with a permit application expected in H1 2023. Exploration drilling in 2022 continued to confirm the potential for resource growth at the Valley of the Kings deposit and surrounding area. Further high-grade results were returned from the 1080 HBx Zone and Golden Marmot during 2022, both areas which are covered by Franco- Nevada’s royalty and located outside of the current published resource. Near-mine exploration targets on royalty ground outside of the West Zone include the Bridge Zone, Shore Zone, Gossan Hill Zone, SG Zone, Bonanza Zone and the western portion of the Flow Dome Zone. The easternmost portion of the Flow Dome Zone, east of the Valley of the Kings, is not covered on royalty ground. Mill debottlenecking concept study advancing High-grade results from Golden Marmot and 1080 HBx Zone on royalty ground Brucejack, British Columbia

59 Franco-Nevada Corporation TSX / NYSE: FNV Canada Mineral Resources and Mineral Reserves Additional Information Diversified Assets Kirkland Lake Location: Ontario, Canada Operator: Agnico Eagle Mines Limited Precious Metals: Au Royalty: NSR: 1.5-5.5%; NPI: 20% Franco-Nevada’s 2% NSR royalty, covering a number of claims held by Agnico Eagle from its acquisition of Osisko Mining Corporation in April 2014, covers the AK, Upper Canada, Anoki-McBean and Canadian Kirkland deposits. Work is ongoing to evaluate the potential to develop Upper Canada and Anoki-McBean as potential ore feed to existing milling infrastructure in the region. #4 Shaft completed Large land position in historical mining area covering multiple known deposits Exploration potential on royalty ground at AK and Upper Canada 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ 5.5 $ 5.8 $ 5.4 M&I Resource (koz Au) 1 3,770 3,934 4,467 Inferred Resource (koz Au) 1 3,175 3,781 3,414 P&P Reserves (koz Au) 1 1,913 1,856 2,368 M&I Royalty Ounces (000s) 1, 2 63 66 73 Inferred Royalty Ounces (000s) 2 58 70 64 P&P Royalty Ounces (000s) 2 29 28 36 1 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves. The table above is the sum of reported Agnico Eagle Mineral Resources and Mineral Reserves 2 For Royalty Ounce calculation, Franco-Nevada estimates 100% of the Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates a rate of 1.5% is applicable to Macassa and a rate of 2.0% is applicable to Amalgamated Kirkland (AK), Anoki-McBean and Upper Canada Franco-Nevada has various royalties covering approximately 170 km 2 of the Larder Lake and Main Breaks in the historic Kirkland Lake gold camp of Ontario. Agnico Eagle is the largest landowner in the Kirkland Lake camp following its merger with Kirkland Lake Gold in February 2022. Agnico Eagle now owns and operates the Macassa mine which includes production from the Main Break, ’04 Break and the high-grade South Mine Complex (“SMC”). Franco-Nevada’s Kirkland Lake royalty interests with Agnico Eagle include: • An overlying 1.5% NSR on Agnico Eagle’s properties surrounding and including the Macassa mine • An underlying 20% profit-based royalty immediately to the southwest of the SMC as shown in the inset of the schematic • An underlying 2-3% NSR on claims to the west of current operations • An underlying 2% NSR royalty on the extension of Amalgamated Kirkland (“AK”) • A 2% NSR on AK, Upper Canada, Anoki-McBean, Canadian Kirkland and the surrounding land packages In 2022, Macassa produced 200,833 ounces of gold compared to 210,192 ounces of gold in 2021. Production in 2023 is forecast to be between 170,000 to 225,000 ounces of gold, in line with guidance provided in 2022. In 2024 and 2025, current guidance of between 255,000 to 275,000 and 295,000 to 315,000, respectively, reflects a slower ramp-up of mining activities and a lower forecast gold grade. The slower ramp-up in 2024 is partly due to a re-evaluation of the development rate and mining sequence following the completion of Shaft #4 and the new ventilation system. After 2025, Agnico Eagle is forecasting production from the deep mine (including the SMC and Main Break) to be approximately 300,000 to 310,000 ounces of gold per year. Overall, Agnico Eagle believes that Macassa has the potential to be a 320,000 to 350,000 ounces of gold per year producer over the medium term including prospects closer to surface. Both the AK and the Near Surface Deposits at Macassa are accessible from an existing surface ramp at Macassa. Production from the Near Surface deposits is expected to begin in 2023 and production from the AK deposit could potentially begin in 2024. Average annual production from these two deposits could be 20,000 to 40,000 ounces of gold, commencing in 2024. Drilling is planned to continue at AK in 2023 from underground platforms, with a focus on continuing to upgrade and increase the Indicated Mineral Resource. Fault Mineralized Breaks Gold Showings Mine Shafts Anoki-McBean 24 M oz. Kirkland Main Break Amalgamated Kirkland (AK) King Kirkland Dobie Biroco 180 East 13 M oz. Larder Lake Break 66 Esker Upper Beaver Swastika Kirkland Lake Upper Canada N km 0 1 Teck Twp. Otto Twp. Bernhardt Twp. Teck Twp. Teck Twp. Grenfell Twp. Teck Twp. Lebel Twp. Kirkland Lake Royalty Area Overlying 1.5% NSR Plus Underlying Royalties of: 20% NPI – Macassa 2% NSR – Gracie West 3% NSR – KLW 2% NSR – AK extension 2% NSR – AK and surrounding land package Kirkland Lake Swastika Macassa #3 Shaft Macassa #2 Shaft Gracie West Macassa Teck-Hughes Lakeshore Kirkland Minerals South Mine Complex Kirkland Lake West (KLW) Wright- Hargreaves Macassa #4 Shaft Macassa #1 Shaft Amalgamated Kirkland (AK) Kirkland Lake Quebec Ontario

60 TSX / NYSE: FNV Franco-Nevada Corporation Canada Overview Overview Precious Metals Dublin Gulch (Eagle) Location: Yukon, Canada Operator: Victoria Gold Corp. Precious Metals: Au Royalty: NSR: 1-1.5% Eagle Royalty 1% gross return royalty Lynx Royalty 1.5% NSR (capped) A B Dublin Gulch (Eagle Deposit) Yukon Northwest Territories Alaska British Columbia B Dublin Gulch (Eagle Deposit) Royalty Area Nugget-Raven Whiskey Wrinkles Eagle Extension Wolf-Tungsten Catto Olive- Shamrock Popeye Eagle West Rex Peso Bluto Eagle Mine Access Road Lynx Mar Zone Property Len Zone Property Eagle Gold Mine km 0 2.5 A DG Claims boundary incorporated into the 2023 technical report include year-round stacking on the heap leach facility, stockpiling of lower grade material for end of mine life processing, and utilization of a mobile crusher to supplement and increase production rates. Franco-Nevada’s royalty is estimated to cover the entire Eagle deposit which contains Mineral Reserves of 2.41 million ounces (118 million tonnes grading 0.64 g/t) and a small portion of the satellite Olive deposit which contains Mineral Reserves of 0.18 million ounces (7 million tonnes grading 0.84 g/t). Mineralization at Eagle has been drill tested to a depth of 850m and remains open at depth. Victoria Gold continues to explore the broader land package targeting Lynx (on royalty ground) as well as Raven (not on royalty ground). In January 2023, Victoria Gold announced results from the 2022 exploration program on Lynx, with encouraging results on Franco-Nevada’s royalty ground. Updated technical report with 12-year mine plan Exploration potential both near-mine and across the broader land package 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ 2.6 $ 3.1 $ 1.9 M&I Resource (koz Au) 1 4,304 4,397 4,397 Inferred Resource (koz Au) 1 497 361 361 P&P Reserves (koz Au) 1 2,407 3,061 3,061 M&I Royalty Ounces (000s) 1, 2 43 44 44 Inferred Royalty Ounces (000s) 2 5 4 4 P&P Royalty Ounces (000s) 2 24 31 31 1 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 For Royalty Ounce calculation, Franco-Nevada estimates 100% of the Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates a rate of 1.0% is applicable Franco-Nevada has a 1% NSR on the Eagle Gold mine which is owned and operated by Victoria Gold Corp. (“Victoria Gold”). The Eagle deposit is part of the larger Dublin Gulch claim block and is located in central Yukon. In addition, Franco-Nevada has a 1.5% NSR on the Lynx properties (part of the Dublin Gulch claim) which is subject to a C$15,000 annual advance royalty payment and is capped at C$1,500,000. In July 2020, the Eagle Gold mine achieved commercial production. In 2022, the operation produced 150,182 ounces of gold compared with 164,222 ounces of gold in 2021. Gold production for 2023 is estimated to be between 160,000 and 180,000 ounces. In February 2023, Victoria Gold announced an updated technical report for the Eagle Gold mine envisioning total gold production of two million ounces over a mine life of 12 years starting in 2023. Production will average 202,000 ounces of gold per year over the first eight years, with peak production of 219,000 gold ounces in 2025. Optimizations Dublin Gulch (Eagle), Yukon

61 Franco-Nevada Corporation TSX / NYSE: FNV Canada Mineral Resources and Mineral Reserves Additional Information Diversified Assets Musselwhite Location: Ontario, Canada Operator: Newmont Corporation Precious Metals: Au Royalty: NPI: 5%; NSR: 2% Musselwhite Leased Lands Unpatented Lands Deposits N Main Mine Trend Mill Outside Boundary 5% NPI Opapimiskan Lake Zeemel Lake km 0 1.5 3 Karl Zeemal Area 2% NSR PQD North Saddle Lynx Zone 5% NPI 5% NPI 5% NPI Canoe Zone Camp Zone West Anticline Zone Bay Zone The area is estimated to cover 120 km 2 in northwestern Ontario, 480 km north of Thunder Bay. The royalty also covers an area of interest surrounding the property as shown in the schematic. Franco-Nevada’s Musselwhite interest is a profit royalty which did not become payable until historical capital and operational costs had been recovered by the operator in 2011. In September 2019, Franco-Nevada acquired from Premier a 2% NSR on property owned by Newmont, adjoining Musselwhite, and covering approximately 6.3 km 2 of the projected northwest extension of Newmont’s Musselwhite mine, as shown in the schematic. The mine is a fly-in and fly-out underground operation which began operating in April 1997 and has been ramping back up to full production levels following a fire at the mine in March 2019 and subsequent COVID-19 restrictions. The Materials Handling Project, which reached commercial production in December 2020, has enabled hoisting of ore through an underground winze resulting in reduced reliance on high- cost truck haulage. This has led to improved energy efficiency, reduced ventilation requirements, reduced mining costs and an enhanced production profile. Musselwhite produced 173,000 ounces of gold in 2022, versus 152,000 ounces of gold in 2021, and reported 1.9 million ounces of gold Mineral Reserves as of December 31, 2022. Newmont reported that Q4 2022 was Musselwhite’s best quarter in five years for both development meters and gold production, with Franco-Nevada receiving NPI payments for this period. 2023 production is expected to be between 200,000 and 220,000 gold ounces. Musselwhite unit costs are expected to steadily improve in 2023 with higher production volumes. All-in sustaining costs are expected to range between $1,290 per ounce and $1,390 per ounce, versus $1,531 per ounce in 2022. Musselwhite is expected to deliver steadily improving production in 2023 and longer- term, driven by productivity improvements and accessing higher grade in the PQ Deeps. In 2023, Franco-Nevada anticipates payments from its NPI royalty from Musselwhite to increase compared to the prior year. Mine ramping back up, with Material Handling Project positively impacting production and operating costs NPI leverage to the gold price Large land package with additional royalty covering the projected northwest extension of Musselwhite 2022 2021 2020 Revenue to Franco-Nevada 1 ($ million) $ 1.5 $ – $ – M&I Resource (koz Au) 2 2,410 2,200 2,130 Inferred Resource (koz Au) 2 410 440 410 P&P Reserves (koz Au) 2 1,920 1,770 1,790 M&I Royalty Ounces (000s) 2, 3 39 47 48 Inferred Royalty Ounces (000s) 3 7 9 9 P&P Royalty Ounces (000s) 3 31 38 40 1 Revenue to Franco-Nevada represents the actual NPI revenue paid and earned for each year 2 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 3 For Royalty Ounce calculation, Franco-Nevada estimates 100% of the Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates a rate of 1.6% (2.2% in 2021, 2.2% in 2020) is applicable assuming an all in cost of $1,222/ounce ($1,026/ounce in 2021, $967/ounce in 2020). Please see page 15 for our methodology on calculating Royalty Ounces for an NPI Franco-Nevada has a 5% NPI royalty that covers all of the original leased lands at the Musselwhite operation. Musselwhite Quebec Ontario Musselwhite, Ontario

62 TSX / NYSE: FNV Franco-Nevada Corporation Canada Overview Overview Precious Metals Timmins West Location: Ontario, Canada Operator: Pan American Silver Corp. Precious Metals: Au Royalty: NSR: 2.25% N N Bell Creek Mine & Mill Destor-Porcupine Fault Burrows Benedict Fault Mattagami River Fault Bell Creek Complex 4 km Timmins Deposit Thunder Creek Deposit Gold River Trend 144 Gap Zone Deposit Timmins West 101 Timmins km 0 20 Dome Mine Hollinger McIntyre Hoyle Pond Pamour Mine Timmins West 2.25% NSR UG Mine Shaft Deposits Pan American Silver produced 134,600 ounces of gold from its Timmins operations in 2022 versus 133,800 ounces of gold in 2021. As of March 2023, Pan American had not provided its 2023 operating outlook and guidance, which is expected to occur later in the first half of 2023. Ore from both the Timmins West and Bell Creek mines is processed at the Bell Creek mill. Pan American Silver holds a significant land position in the Timmins Camp and exploration success has extended mine life with potential for exploration upside in the future. Exploration success has extended the mine life Large land package providing exploration upside 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ 3.2 $ 3.2 $ 3.2 M&I Resource (koz Au) 1 675 675 1,040 Inferred Resource (koz Au) 1 24 24 1,161 P&P Reserves (koz Au) 1 541 541 653 M&I Royalty Ounces (000s) 1, 2 15 15 23 Inferred Royalty Ounces (000s) 2 1 1 26 P&P Royalty Ounces (000s) 2 12 12 15 1 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 For Royalty Ounce calculation, Franco-Nevada estimates 100% of the Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates a rate of 2.25% is applicable Franco-Nevada’s Timmins West 2.25% NSR royalty covers a large land package of approximately 130 km 2 to the west of the City of Timmins, Ontario. The Timmins West property hosts the Timmins, Thunder Creek and 144 Gap deposits as well as the Gold River Trend exploration zone. Franco-Nevada acquired the royalty from Lake Shore Gold Corp. (“Lake Shore Gold”) in 2012, after Lake Shore Gold put the property into full commercial production in 2011. Lake Shore Gold was acquired by Tahoe Resources Inc. (“Tahoe Resources”) in April 2016, which was subsequently acquired by Pan American Silver Corp. (“Pan American Silver”) in February 2019. Under Pan American Silver, public reporting for both the Timmins West and Bell Creek underground mines has been consolidated into its Timmins operations (Franco-Nevada does not have a royalty on Bell Creek). Franco-Nevada estimates that Timmins West represented approximately 60% of the Timmins operations production in 2022. Musselwhite Quebec Ontario Timmins West, Ontario

63 Franco-Nevada Corporation TSX / NYSE: FNV Canada Mineral Resources and Mineral Reserves Additional Information Diversified Assets Canadian Malartic Location: Quebec, Canada Operator: Agnico Eagle Mines Limited Precious Metals: Au Royalty: GR: 1.5% Mill Malartic (town site) Hwy 117 deviation Canadian Malartic Royalty Area 1.5% Royalty Claims Quartz Veins Mineralized Envelopes Open Pit East Gouldie Barnat Pit Canadian Malartic Pit East Malartic Jeffrey Pit Sheehan Odyssey Jupiter Odyssey South Odyssey North Rail line Rail line 1 0 km N Gouldie As of December 31, 2022, the Canadian Malartic open-pit mine contains Proven and Probable Mineral Reserves of 3.0 million ounces of gold (104.0 million tonnes grading 0.90 g/t Au). Franco-Nevada estimates that roughly 10% of the Mineral Reserves of the open-pit complex are subject to our royalty interest. The Odyssey project hosts three main zones: East Gouldie, East Malartic, and Odyssey (which is further sub-divided into Odyssey North, Odyssey South and Odyssey Internal). The Odyssey underground project supports a mine life to at least 2039 and post 2029 is expected to produce an average of 545,400 ounces of gold per year. Production from the Odyssey project is expected to commence at Odyssey South by ramp access in March 2023, with the mined ore to be processed at 51,500 tpd at the Canadian Malartic mill. The Odyssey project is forecast to gradually ramp-up production in 2023, and is expected to contribute approximately 50,000 ounces of gold in 2023 and 80,000 ounces of gold in 2024 and 2025 to the Canadian Malartic Complex. With the depletion of the Canadian Malartic pit in 2023 and the transition to in-pit tailings disposal in the second half of 2024, Agnico Eagle is evaluating opportunities to further increase the mill throughput up to 60,000 tpd. One of Franco- Nevada’s royalty claims covers a portion of the Odyssey South extension and two of Franco-Nevada’s royalty claims cover a portion of East Gouldie, as seen in the schematic below. A 1,800m deep shaft is planned to facilitate production from East Gouldie with shaft sinking expected to commence in 2023 and shaft commissioning in 2027. From the March 2021 technical report, which summarized the internal preliminary economic assessment for the Odyssey project, it is estimated that approximately 5 million ounces of the 6.9 million ounces expected to be produced from the Odyssey project over the 17-year mine life are from East Gouldie. It is also estimated that Franco-Nevada’s East Gouldie claims cover approximately 35% of the East Gouldie resource with infill and step-out drilling at the East Gouldie zone continuing to support continuity and scale. Long-life asset transitioning to underground production Open pit and underground exploration targets present additional potential ore sources 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ 2.3 $ 2.4 $ 3.1 M&I Resource (koz Au) 1 8,314 5,214 4,638 Inferred Resource (koz Au) 1 2,772 6,236 6,602 P&P Reserves (koz Au) 1 3,010 3,534 4,428 M&I Royalty Ounces (000s) 1, 2 25 13 6 Inferred Royalty Ounces (000s) 2 28 32 34 P&P Royalty Ounces (000s) 2 5 5 6 1 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 For Royalty Ounce calculation, Franco-Nevada estimates 10% of the Mineral Reserves (9% in 2021, 9% in 2020), 20% of the M&I Mineral Resources (16% in 2021, 9% in 2020) and 68% of the Inferred Mineral Resources (34% in 2021, 34% in 2020) are subject to our royalty interest and estimates a rate of 1.5% is applicable In June 2011, Franco-Nevada purchased a 1.5% gross royalty on part of the Canadian Malartic gold project. The project is located in Quebec’s Abitibi mining district and rivals Detour Lake as Canada’s largest gold producer. The royalty covers seven claims on the property including the central portion of the open pit as shown in the schematic which equates to approximately 3 km 2 . Royalty payments are expected to fluctuate annually based on the location of mining relative to the royalty property. In January 2023, the ownership of Canadian Malartic was consolidated under Agnico Eagle as part of the acquisition of Yamana’s Canadian assets. On a 100% basis, Canadian Malartic produced 658,792 ounces of gold in 2022 versus 2021 production of 714,784 ounces of gold. The midpoint of 2023 gold production at Canadian Malartic is estimated to be 668,000 ounces on a 100% basis (reported by Agnico Eagle to be between 575,000 and 595,000 ounces assuming 50% ownership of Canadian Malartic for the first three months and 100% ownership for the last nine months of 2023). Production is forecast in 2024 and 2025 to be between 645,000 to 675,000 ounces and 595,000 to 625,000 ounces, respectively on a 100% basis. During 2022, the mine continued the transition from the Canadian Malartic pit to the Barnat pit. In 2023, production is expected to be sourced from the Canadian Malartic pit, the Barnat pit and the Odyssey mine, complemented by ore from the low-grade stockpiles. The Canadian Malartic mine (Canadian Malartic and Barnat pits) and the Odyssey mine will now form the Canadian Malartic Complex in 2023, with the Canadian Malartic pit expected to be completed late in the first half of 2023. Canadian Malartic Quebec Ontario Canadian Malartic, Quebec

64 TSX / NYSE: FNV Franco-Nevada Corporation Canada Overview Overview Precious Metals Magino Location: Ontario, Canada Operator: Argonaut Gold Inc. Precious Metals: Au Royalty: NSR 2% 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ – $ – $ – M&I Resource (koz Au) 1 4,019 – – Inferred Resource (koz Au) 1 526 – – P&P Reserves (koz Au) 1 2,427 – – M&I Royalty Ounces (000s) 1, 2 80 – – Inferred Royalty Ounces (000s) 2 11 – – P&P Royalty Ounces (000s) 2 49 – – 1 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 For Royalty Ounce calculation, Franco-Nevada estimates 100% of the Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates a rate of 2.0% is applicable On October 27, 2022, Franco-Nevada, acquired a 2% NSR on Argonaut Gold Inc.’s construction-stage Magino gold project in Ontario for US$52.5 million. Magino is located in Ontario, approximately 14 km southeast of the town of Dubreuilville and is owned and operated by Argonaut Gold Inc. (“Argonaut Gold”). The 2% NSR applies to the Magino project and all of Argonaut Gold’s regional exploration properties, a total of 45 km 2 . Magino is a past producing underground gold mine currently in construction as a conventional open pit mining and milling operation with a mill throughput capacity of 10 ktpd. As detailed in Argonaut Gold’s March 3, 2022 Technical Report on the Magino Project, the mine is expected to have a 19 year mine life with average gold production of 142 koz per annum in the first 5 years. As of December 31, 2022, Magino is 80% complete with commercial production estimated in the third quarter 2023, following first gold-pour in May 2023. Magino and the regional exploration claims are located adjacent to Franco-Nevada’s existing royalties in the area on Alamos Gold’s Island Lake properties and expands our exposure to this prospective region. Exploration targets include high-grade underground potential, e.g. the Elbow Zone, and prospective structures and host rock on trend of Magino located on the royalty grounds. Commercial production expected in Q3 2023 Long life mine plan Extensive resource beyond existing mine plan Prospective land package and exploration upside Magino, Ontario Granodiorite Resource Pit Magino Royalty Area 2.0% NSR Magino Royalty Area 2.0% NSR 2.0% NSR Island Gold (Alamos) Royalty Area 0.62% NSR N 0 2 km Existing Island Gold Royalty claims Reserves + Resources New Magino Royalty claims Granodiorite 2.0% NSR Magino Quebec Ontario

65 Franco-Nevada Corporation TSX / NYSE: FNV Canada Mineral Resources and Mineral Reserves Additional Information Diversified Assets Island Gold Location: Ontario, Canada Operator: Alamos Gold Inc. Precious Metals: Au Royalty: NSR: 0.62% N metres 0 500 Island Gold Royalty Area 0.62% NSR Island East Northern Zone Island Main Island West FNV Royalty claims Reserves + Resources Island Gold is one of Canada’s highest grade gold mines. Combined Mineral Resources and Mineral Reserves (including Inferred material) are 5.3 million gold ounces (4.2 million tonnes grading 10.78 g/t of Mineral Reserves, 1.3 million tonnes grading 7.09 g/t of exclusive M&I Resources, and 8.1 million tonnes grading 13.61 g/t) as of December 31, 2022. In November 2022, Alamos announced positive exploration results at the Island Gold mine, further extending high-grade mineralization at Island West, Island East, and at depth and in February 2023, Alamos also announced the acquisition of Manitou Gold Inc. (Franco-Nevada’s royalty does not cover this ground). Franco-Nevada holds additional royalties in the Island Gold mining camp. These include a 2% NSR royalty on Alamos’ Edwards property located 4 km northeast of the Island Gold mine and a 0.75% NSR royalty on the Cline Lake property immediately adjacent to Edwards. In December 2020, Alamos acquired Trillium Mining Corp. which previously held the Cline Lake property, increasing its land package by approximately 60% in the region. Both of Franco-Nevada’s additional royalties in the mining camp are along strike and on the same geologic structure as the Island Gold mine. High grades at Island Gold support stable production through expansion Phase III+ expansion expected to increase average production to 287,000 ounces starting in 2026 Strong exploration potential in Island Gold mining camp 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ 1.0 $ 1.5 $ 0.8 M&I Resource (koz Au) 1 1,755 1,624 1,476 Inferred Resource (koz Au) 1 3,529 3,454 3,208 P&P Reserves (koz Au) 1 1,464 1,338 1,310 M&I Royalty Ounces (000s) 1, 2 9 9 8 Inferred Royalty Ounces (000s) 2 19 19 18 P&P Royalty Ounces (000s) 2 8 8 7 1 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 For Royalty Ounce calculation, Franco-Nevada estimates 90% of the Mineral Reserves and 85% Mineral Resources (90% in 2021) are subject to our royalty interest and estimates a rate of 0.62% is applicable In March 2020, Franco-Nevada acquired an existing 0.62% NSR on the Goudreau Lake claims totaling 58 hectares covering the core of the Island Gold mine in western Ontario. The mine is operated by Alamos Gold Inc. (“Alamos”) who acquired the operation in 2016. The mine utilizes longitudinal retreat longhole stoping with cement backfill and ore is processed through a conventional carbon in pulp plant. Alamos produced a total of 133,700 ounces of gold in 2022 from the mine, a decrease from 140,900 ounces of gold in 2021. Gold production is forecast to be between 120,000 to 135,000 ounces in 2023. In the near term, Franco-Nevada expects a significant portion of production to come from the royalty claims and it is estimated that approximately 85% of the inclusive Mineral Resources and 90% of the Mineral Reserves on the property are covered by Franco-Nevada’s royalty claims. In June 2022, Alamos reported results of the positive Phase III+ expansion study conducted on its Island Gold mine. Based on the results of the study, Alamos is proceeding with an expansion of the operation to 2,400 tpd. The Phase III+ expansion is expected to increase average annual gold production to 287,000 ounces per year starting in 2026 upon completion of the shaft, representing an approximate 115% increase from 2022 production. The expanded mine plan has an expected mine life of 18 years, from 2022 to 2039. Island Gold, Ontario

66 TSX / NYSE: FNV Franco-Nevada Corporation Canada Overview Overview Precious Metals Greenstone Location: Ontario, Canada Operator: Equinox Gold Corp. / Orion Mine Finance Precious Metals: Au Royalty: NSR: 3% Salsberg Ashmore Greenstone Royalty Area 3% NSR McKelvie Lindsey Parent N km 0 3 Errington Ontario Greenstone Royalty Area Mineralized zones Mosher Shaft SP Zone Hardrock Geraldton Other Royalty Claims during the first five years is expected to average 414,000 ounces per annum with an average head grade of 1.45 g/t gold. Equinox Gold anticipated approximately two years of construction with six months of commissioning. Equinox Gold announced that construction had commenced in Q4 2021 and that as of the end of December 2022 construction of the project was on schedule and budget. At that time the Greenstone project was 65% complete and the first gold pour was expected in H1 2024. The project has a construction budget of $1.23 billion on a 100% basis. Construction on schedule and budget with first gold pour on track for the first half of 2024 Optimized feasibility study outlined potential 14-year mine life producing 414,000 ounce per annum during the first five years 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ – $ – $ – M&I Resource (koz Au) 1 7,007 7,105 7,008 Inferred Resource (koz Au) 1 3,072 3,095 3,072 P&P Reserves (koz Au) 1 5,538 5,538 5,539 M&I Royalty Ounces (000s) 1, 2 210 213 210 Inferred Royalty Ounces (000s) 2 92 93 92 P&P Royalty Ounces (000s) 2 166 166 166 1 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 For Royalty Ounce calculation, Franco-Nevada estimates 100% of the Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates a rate of 3.0% is applicable Franco-Nevada acquired a 3% NSR on Greenstone as part of its acquisition of a portfolio of approximately 20 royalties from Barrick in November 2013. The Greenstone project, previously called Hardrock, is being advanced by Greenstone Gold Mines L.P. (“Greenstone”), a 60/40 partnership between Equinox Gold and Orion Mine Finance, a private entity. The Greenstone mine encompasses a total Proven and Probable Mineral Reserve of 5.5 million ounces of gold (135.3 million tonnes grading 1.27 g/t) and a total Inclusive M&I Resource of 7.0 million ounces of gold (151.1 million tonnes grading 1.44 g/t) for the project. An optimized feasibility study prepared in December 2020 contemplated the construction of a 27,000 tonne per day processing facility and open-pit mining operation with production over a 14-year mine life. Gold production Greenstone, Ontario

67 Franco-Nevada Corporation TSX / NYSE: FNV Canada Mineral Resources and Mineral Reserves Additional Information Diversified Assets Valentine Gold Location: Newfoundland, Canada Operator: Marathon Gold Corporation Precious Metals: Au Royalty: NSR: 1.5% Valentine Gold Property Teck Resources Duck Pond Mine Millertown Buchans Buchans Junction N km 0 75 Deer Lake Corner Brook Springdale Grand Falls Badger Stephenville Buchans Millertown Duck Pond Mine Granite Canal Substation Valentine Lake Thrust Fault Marathon Deposit Leprechaun Deposit Victory Deposit Sprite Deposit Frank Zone N km 0 20 Valentine Lake Gold Camp Powerline Granite Canal Hydro Facility Marathon Gold Corporation Berry Zone The Valentine Gold project comprises a series of mineralized deposits along a 32 km trend representing high grade open pits with average Mineral Reserve grade of 1.6 g/t. In December 2022, Marathon Gold announced the results of an updated feasibility study outlining a three-pit mine plan based on the Marathon, Leprechaun and Berry deposits. The updated feasibility study presented increased Mineral Reserves, an extended mine life and a higher gold production profile compared to the initial March 2021 feasibility study. The updated study outlines a 14.3-year mine life, with an average gold production profile of 195,000 ounces of gold per year between 2025 and 2036 from the processing of high-grade mill feed, and 97,000 ounces of gold per year between 2037 and 2039 from the processing of low-grade stockpiles. M&I Resources, exclusive of reserves, contain an additional 1.27 Moz. Marathon Gold announced a construction decision in September 2022. As of March 2023, the Valentine Gold project remains on schedule for ore to be delivered to the mill by the end of 2024 and first gold production in the first quarter of 2025, with construction at 7% completion at such time. Updated feasibility study incorporating Berry Zone, extending mine life and increasing production profile Mine under construction with first gold production expected in Q1 2025 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ – $ – $ – M&I Resource (koz Au) 1 3,960 3,138 3,092 Inferred Resource (koz Au) 1 1,100 1,639 958 P&P Reserves (koz Au) 1 2,690 2,100 1900 M&I Royalty Ounces (000s) 1, 2 59 47 46 Inferred Royalty Ounces (000s) 2 17 25 14 P&P Royalty Ounces (000s) 2 40 32 29 1 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 For Royalty Ounce calculation, Franco-Nevada estimates 100% of the Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates a rate of 1.5% is applicable Franco-Nevada holds a 1.5% NSR on the Valentine Lake Gold Camp in central Newfoundland. The project is being advanced by Marathon Gold Corporation (“Marathon Gold”) and when completed, the Valentine Gold project will be the largest gold mine in Atlantic Canada. The royalty, which was acquired in February 2019, was initially a 2.0% NSR subject to a 0.5% buyback provision for $7 million. In February 2023, Marathon Gold exercised its option for a partial buy-back of the royalty, reducing Franco-Nevada’s NSR to 1.5%. Valentine Gold Quebec Ontario Newfoundland

68 TSX / NYSE: FNV Franco-Nevada Corporation Canada Overview Overview Precious Metals Golden Highway Location: Ontario, Canada Operator: Agnico Eagle Mines Limited Precious Metals: Au Royalty: NSR: 0.25-10% 1% NSR 1-2% NSR 1% NSR 4% NSR 0.25-1% NSR 101 Present or past producing mine Stoughton Stock Mine and Mill Royalty Matheson Porcupine Timmins Lake Abitibi Frederick House Lake Night Hawk Lake Kenogamisis Lake Holloway Mine Holt Mine Jonpol Ross Mine Apollo Black Fox Taylor Royalty Ludgate Kidd Creek Porcupine Peninsula Royal Oak Bell Creek Owl Creek Hoyle Pond Kinross 1060 Zone Broulan Reef Delnite Aunor Paymaster Dome McIntyre Hollinger Hallnor Pamour #1 Matheson German Stock Taylor Cody Macklem Bond Currie Carr Beatty Bowman Hislop Guibord 11 ONR Destor-Porcupine Fault Zone Pipestone Fault Cook Barnet Thackeray Harker Garrison Rand Michaud Munro McCool Aquarius Royalty Hislop Royalty Frecheville Holt Royalty Lamplugh Lake Abitibi 101 11 Marriot Central Timmins Royalty Claims Holloway Royalty Sliding scale 3% NSR Zone 7 Royalty Sliding scale Holloway 0.5-2.5% NSR Stoughton Royalty km 0 20 N to integrate a number of satellite deposits with the existing infrastructure in the region which may displace production from royalty ground in the short to medium term. Franco-Nevada has royalties on the following key properties in the trend: Holt: The Holt mine has been the main producing asset in recent years and includes the Holt mill complex. Franco-Nevada has a sliding scale NSR royalty beginning at 2% when the gold price is less than or equal to $500/ ounce and increasing in 1% increments for each $100/ounce increase in the gold price, to a maximum of 10%. The Holt mine was built in the late 1980s by Barrick. Taylor: The Taylor mine (1% NSR) achieved commercial production in November 2015. Exploration potential at Taylor exists along strike and at depth of current Mineral Resources. Holloway: The Holloway mine is located immediately north of the Holt property with ore historically processed at the Holt mill. The Holloway mine was placed on care and maintenance at the end of 2016 due to limited economic viability. In an effort to improve the economics of the operation, in 2019, Franco-Nevada agreed to reduce the royalty at Holloway to a flat 3% NSR from the previous sliding scale royalty. The mine resumed operations in early 2019, prior to the current suspension. Hislop: Franco-Nevada has a 4% NSR on the Hislop mine which is located approximately 50 km to the west of the Holt mill. The open-pit Mineral Reserves for the Hislop open pit were fully depleted in 2014. Aquarius: Franco-Nevada holds a 1-2% sliding scale NSR (2% when gold price is greater than $1,000/ounce) on the majority of claims surrounding and including the Aquarius deposit. Multiple NSR royalties in the Destor-Porcupine mineral trend Large land position offers future potential 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ – $ 0.1 $ 3.0 M&I Resource (koz Au) 1 2,978 2,978 1,872 Inferred Resource (koz Au) 1 1,421 1,421 1,407 P&P Reserves (koz Au) 1 – – – M&I Royalty Ounces (000s) 1, 2 160 160 138 Inferred Royalty Ounces (000s) 2 90 90 90 P&P Royalty Ounces (000s) 2 – – – 1 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves. Mineral Resources and Mineral Reserves are the sum of Golden Highway - Holt Complex (which includes Holt, Holloway and Taylor) and Golden Highway - Hislop 2 For Royalty Ounce calculation, Franco-Nevada estimates 100% of the Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates rates of: Holt 10%; Holloway 3%; Taylor 1%; Hislop 4%; Aquarius 2% Franco-Nevada has multiple NSR royalties ranging from 0.25 to 10% over the Destor-Porcupine mineral trend just east of Timmins, Ontario spread over more than 120 km and estimated to cover over 340 km 2 . Kirkland Lake Gold (“KLG”) acquired St Andrew Goldfields (“St Andrew”) in January 2016, which previously owned and operated most of the properties along the trend on which Franco-Nevada has royalties. KLG amalgamated Holt, Holloway and Taylor into the Holt Complex for reporting purposes, all of which have fed the Holt mill for processing. The Holloway mine was placed on care and maintenance in March 2020. Operations at the remainder of the Holt Complex were suspended in April 2020. In August 2020, KLG and Newmont entered into a strategic alliance agreement, with Newmont acquiring an option on certain mining and mineral rights related to the Holt property. In February 2022, Agnico Eagle and KLG completed a merger of equals, with the combined company continuing as Agnico Eagle (see pages 54, 59 and 63 for additional assets operated by Agnico Eagle). Agnico Eagle plans to evaluate the potential Golden Highway Quebec Ontario

69 Franco-Nevada Corporation TSX / NYSE: FNV Canada Mineral Resources and Mineral Reserves Additional Information Diversified Assets Eskay Creek Red Lake (McFinley) Location: British Columbia, Canada Operator: Skeena Resources Limited Precious Metals: Au & Ag Royalty: NSR: 1.5% Location: Ontario, Canada Operator: Evolution Mining Limited Precious Metals: Au Royalty: NSR: 2% Franco-Nevada holds a 1.5% NSR on the past-producing Eskay Creek gold-silver project in British Columbia’s Golden Triangle. Eskay Creek was the highest-grade gold mine in the world when in production with the operator, Barrick Gold Corp., producing 3.3 million ounces of gold and 160 million ounces of silver at average grades of 45 g/t gold and 2,224 g/t silver from 1994-2008. In September 2022, the current owner of the property, Skeena Resources Limited (“Skeena”), announced a positive feasibility study, outlining average annual production of 269,000 ounces of gold and 7.4 million ounces of silver over an initial 9-year mine life. The feasibility study was based on Proven and Probable Mineral Reserves of 3.85 Moz AuEq (29.9 Mt at 2.99 g/t Au and 79 g/t Ag). The study indicated a high- grade open-pit and a flotation plant producing saleable concentrate. It contemplated a processing throughput of 3.0 Mtpa in years one to five and 3.7 Mtpa in years six to nine. In December 2021, Franco-Nevada entered into an agreement with Skeena to amend the terms of its existing 1% NSR royalty agreement such that the existing royalty covered substantially all of the Eskay Creek gold-silver project land package at the time, including all currently-known mineralized zones. In December 2022, Franco-Nevada acquired an additional 0.5% NSR on Eskay Creek and now holds a 1.5% NSR covering the majority of the project’s land package, including the known Mineral Resource. Exploration by Skeena Resources in 2022 led to three new discoveries including the Eskay Rift Zone, the 23 and 23 South Zones and the 21A West Zone. In the new ‘Eskay Rift’ discovery 500 m down-plunge to the north of the historically underground mined NEX zone Skeena intersected 32 m at 4.5 g/t Au. This mineralization was hosted in rhyolite and without significant Hg, As and Sb and highlights potential underground mineable resource inventory growth to the north from existing historical underground stopes in the NEX zone. Skeena’s continued success with exploration drilling highlights potential resource growth to the south of the of the 2022 Resource pit and potential for expansion of the 22 Zone Resource pit. For Royalty Ounce calculation, Franco-Nevada estimates 100% of the Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates a rate of 1.5% is applicable Franco-Nevada has a 2% NSR (subject to a buy-back of 0.5%) on the water claims, which cover the majority of Mineral Reserves, of the Bateman gold project in Red Lake, Ontario. In May 2021, Evolution Mining Limited (“Evolution Mining”) announced the completion of its acquisition of Battle North Gold Corporation (previously Rubicon Minerals Corp), taking ownership of the Bateman gold project (previously known as the Phoenix project). Under Evolution Mining, Bateman is being reported under Red Lake for public reporting purposes (Franco-Nevada does not have a royalty on Evolution Mining’s other Red Lake properties) and is being referred to as the McFinley project in the December 31, 2022 annual Mineral Resources and Ore Reserves statement. Rubicon developed the Phoenix project with completion of a 1,800 tpd mill in 2015. Later that same year Rubicon shutdown underground activities to enhance its geologic model and develop an implementation plan as the gold mineralization was more geologically complex than anticipated and the contained gold ounces estimated were materially reduced. In October 2020, Battle North announced feasibility study results for the Bateman gold project. The base case study outlined life of mine payable gold production of 602,987 ounces, averaging 73,835 ounces per year for 8.2 years from initial production. Of the 8.2 years, seven years were classified as commercial production, which Battle North defined as an average of 70% of the 1,250 tpd permitted capacity, over 90 consecutive days. The project contemplated an 1,800 tpd mill with excess capacity for potential incremental tonnes from the F2, McFinley and Pen Zones (contemplating 2,500 tpd for the expanded mill). The consolidated Red Lake operation, under the ownership of Evolution Mining, consists of the Red Lake, Campbell, Cochenour, HG Young and McFinley mining areas that will provide ore to the Campbell, Red Lake and Bateman mills with a total processing capacity target of two million tonnes by 2026. Ore from the deposits not covered by Franco-Nevada’s royalty are likely be higher priority through the mills in the short to medium term. For Royalty Ounce calculation, Franco-Nevada estimates 100% of the Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates a rate of 1.5% is applicable in anticipation that Evolution Mining exercises its right to repurchase 0.5% of the 2.0% NSR

70 TSX / NYSE: FNV Franco-Nevada Corporation Canada Overview Overview Precious Metals Courageous Lake Goldfields Location: Northwest Territories, Canada Operator: Seabridge Gold Inc. Precious Metals: Au Royalty: NSR: 1.02% Location: Saskatchewan, Canada Operator: Fortune Bay Corp. Precious Metals: Au Royalty: NSR: 2% The property also hosts the Walsh Lake deposit (Inferred Mineral Resource of 4.6 million tonnes grading 3.24 g/t), which is located 10 km south of the larger FAT deposit. Metallurgical testing demonstrated that the Walsh Lake material is free milling. Based on these factors, the Walsh Lake deposit could be mined prior to constructing the processing plant required for the larger, refractory FAT deposit thereby improving the overall economics of the Courageous Lake project. An updated preliminary feasibility study is underway. Seabridge is redesigning the large-scale project assumed in the 2012 study to determine if a smaller, less capital-intensive design with a smaller footprint and a more current gold price, could improve economics and enhance the permitting process. For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates an average rate of 1.02% is applicable November 2022, Fortune Bay released the results of a new preliminary economic assessment for the Box and Athona deposits which outlines an 8.3-year life-of-mine, producing 835,000 ounces of gold. Average annual gold production is expected to be 101,000 ounces over the mine life, with an average of 122,000 ounces per year in the first four years. A new Mineral Resource update accompanied the preliminary economic assessment, outlining an Indicated Mineral Resource of 979,900 ounces of gold (23.2 million tonnes grading 1.31 g/t) and an Inferred Mineral Resource of 210,800 ounces of gold (7.1 million tonnes grading 0.92 g/t). The mineralization at both the Box and Athona deposits remains open at depth. For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates a rate of 2.0% is applicable The Courageous Lake project is an advanced gold exploration project located in the Northwest Territories, Canada. Seabridge Gold Inc. (“Seabridge”) has been advancing the Courageous Lake project and, in July 2012, released results of its first preliminary feasibility study for the asset. The study estimated Mineral Reserves of 6.5 million ounces of gold (91 million tonnes grading 2.20 g/t at the FAT deposit) and projected average annual production of 385,000 ounces over a mine life of 15 years. This project covers only 2 km of a greenstone belt that stretches 53 km and by reserves, the FAT deposit is one of Canada’s largest undeveloped gold deposits. The Goldfields project consists of two gold deposits, the Box and Athona deposits, located approximately 13 km south of Uranium City in northern Saskatchewan. Franco-Nevada has a 2% NSR royalty that covers both deposits. Brigus Gold Corp., which was advancing the project, was acquired by Primero Mining Corp. in 2014. The Goldfields project was not part of the acquisition and was spun out into Fortune Bay Corp. (“Fortune Bay”). In Monument Bay Location: Manitoba, Canada Operator: Agnico Eagle Mines Limited Precious Metals: Au Royalty: NSR: 2-3% additional production. Yamana acquired the project from Mega Precious Metals Inc. in 2015 and in September 2018, Yamana signed an Exploration Agreement with Red Sucker Lake First Nations in relation to the Monument Bay exploration site. In both 2020 and 2021, Yamana focused on exploring these high-grade extensions and on targets surrounding the Twin Lakes shear zone, an area believed to host considerable opportunity for resource expansion. The Twin Lakes deposit was originally considered as an open-pit operation but has since been re-evaluated as an underground project, with internal studies indicating the presence of steeply plunging higher-grade shoots within the open-pit Mineral Resource. Deep drilling also provided an initial test of the depth extent and potential of several high-grade shoots which are along the 4 km strike length of the deposit. For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates an average rate of 2.0% is applicable for the first 1.0 million ounces produced and 3.0% on any additional ounces In January 2023, Agnico Eagle acquired the Monument Bay project as part the acquisition of Yamana’s Canadian assets. The Monument Bay project, is located in Manitoba, approximately 570 km northeast of Winnipeg adjacent to the Ontario border. Monument Bay consists of 136 contiguous claims and hosts a Measured and Indicated Mineral Resource base of 1.79 million ounces of gold in 36.6 million tonnes grading 1.52 g/t. Franco-Nevada holds a 2% NSR royalty on the first 1.0 million ounces produced and a 3% NSR on any

71 Franco-Nevada Corporation TSX / NYSE: FNV Canada Mineral Resources and Mineral Reserves Additional Information Diversified Assets Red Mountain Cariboo Location: British Columbia, Canada Operator: Ascot Resources Ltd. Precious Metals: Au Royalty: NSR: 1% / Production Payment Location: British Columbia, Canada Operator: Osisko Development Corp. Precious Metals: Au Royalty: NSR: 3% Franco-Nevada has a 1% NSR as well as a $10/oz production payment on gold produced in excess of 1.85 million ounces from the Red Mountain project near Stewart, B.C. Franco-Nevada acquired the royalty as part of the Barrick royalty portfolio in November 2013. In March 2019, Ascot Resources Ltd. (“Ascot”) completed its acquisition of IDM Mining and its 100%-owned Red Mountain project and a revised feasibility study was released in April 2020. The study envisioned the feed from four deposits (Big Missouri, Silver Coin, Premier and Red Mountain) being processed at the Premier mill, which is approximately 23 km southeast of the Red Mountain deposit. The Premier mill required refurbishment and expansion as it had been on care and maintenance for over 20 years. The updated feasibility study contemplated Red Mountain ore commencing processing in the second year of operation continuing for approximately seven years and contributing roughly half the ore feed for the mill, or approximately 70,000 ounces per annum in year three to seven. Since the 2020 feasibility study, Ascot has updated the sequence of mining, deferring Red Mountain development until later in the overall mine life of the project. Commercial production of the combined operation is expected in mid-2024. The Red Mountain project received federal Environmental Assessment approval in January 2019 and, in April 2019, signed a Benefits Agreement with the Nisga’a Nation. In July 2021, Ascot signed an updated Benefits Agreement for both the Premier Gold and Red Mountain project. In January 2023, Ascot completed a $200 million financing package for the construction of the Premier Gold project and is targeting initial production in Q1 2024. For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates an average rate of 1.0% is applicable Osisko Development Corp. (“Osisko Development”) is advancing the Cariboo Gold project in east-central British Columbia. The property consists of 2,120 km 2 of mineral rights located 85 km east of the town of Quesnel. From 1933 to 1967, 4.5 million ounces of gold were mined in the area from both historical underground and alluvial production. Osisko Development started mining the Bonanza Ledge II project, located within the Cariboo Gold project, in Q1 2021. The Bonanza Ledge II Mineral Resource includes the BC Vein, Bonanza Ledge, and KL Zone deposits. Franco-Nevada’s 3% NSR covers the claims to the immediate northeast of Bonanza Ledge, referred to as the KL Zone. Franco-Nevada’s 3% royalty interest also includes the Williams Claims which are about 5 km southeast of Bonanza Ledge. The Bonanza Ledge II project was placed on care and maintenance in June 2022 to focus on the completion of the Cariboo Gold project feasibility study, which was released in January 2023. The feasibility study envisions a two-phase ramp up, with the first gold pour expected in Q3 2024. Phase 1 is 1,500 tpd at approximately 73,000 ounces per year for the first three years and Phase 2 is 4,900 tpd with underground development and production to increase to approximately 194,000 ounces per year. The broader project has an initial 12-year mine life and there is potential to convert additional Inferred Resources located adjacent to reserve blocks, with mineralization open at depth and along strike. Franco-Nevada has not included Cariboo in Royalty Ounce estimates

72 TSX / NYSE: FNV Franco-Nevada Corporation Overview Overview Precious Metals Red October Henty Duketon Yandal (Bronzewing/Julius) South Kalgoorlie (Mt Martin-Loc. 45) Australia Subika (Ahafo) Tasiast Sabodala Edikan MWS Perama Hill Kiziltepe Karma Sissingué Agate Creek White Dam Séguéla Edna May Higginsville (Lake Cowan) Aphrodite Matilda (Wiluna) South Kalgoorlie (New Celebration) Cue Gold (Day Dawn) Pandora Producing Advanced Warrawoona Rest of World

73 Franco-Nevada Corporation TSX / NYSE: FNV Rest of World Mineral Resources and Mineral Reserves Additional Information Diversified Assets MWS Location: South Africa Operator: Harmony Gold Mining Company Limited Precious Metals: Au Stream: 25% Gold Stream MWS 5 MWS 4 H1 H2 H5 B5 B2 B1 B3 B4 H6 Tailings storage facility site AngloGold Ashanti Dumps N 12 Plant Site MWS Hartebeestfontein Buffelsfontein Vaal West SPD Vaal East STILFONTEIN Town MWS Gold Stream N km 0 2.5 Atlantic Ocean Indian Ocean SOUTH AFRICA BOTSWANA NAMIBIA ZIMBABWE MOZAMBIQUE MWS In September 2020, Harmony Gold Mining Company Limited (“Harmony”) acquired MWS from AngloGold Ashanti Limited (“AngloGold Ashanti”). AngloGold Ashanti had purchased the operation from First Uranium Corporation in July 2012. As part of the AngloGold Ashanti purchase, Franco-Nevada amended the agreement and is now entitled to receive 25% of all the gold produced through the MWS plant, including treatment of AngloGold Ashanti’s tailings, until Franco-Nevada has received 312,500 ounces of gold. In 2022, Franco-Nevada sold 21,825 ounces of gold that had been received under the agreement, compared with 23,016 ounces of gold sold in 2021. As at December 31, 2022, Franco-Nevada has received 262,576 ounces of gold of the 312,500 ounce cap since the amendment of the agreement. Harmony’s production guidance for MWS, for the financial year July 2022 to June 2023, is between 82.5 koz and 89.6 koz of gold. The cap is currently expected to be reached in late 2024. Franco-Nevada is entitled to 25% of all gold produced until 312,500 ounces are received Upside limited by production cap on payments 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ 39.2 $ 41.3 $ 41.8 M&I Resource (koz Au) 1 1,849 1,946 2,150 Inferred Resource (koz Au) 1 – – – P&P Reserves (koz Au) 1 1,485 1,749 1,930 M&I Royalty Ounces (000s) 1, 2 38 54 71 Inferred Royalty Ounces (000s) 2 – – – P&P Royalty Ounces (000s) 2 38 54 71 1 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 For Royalty Ounce calculation, Franco-Nevada estimates 49,923 stream ounces (71,749 stream ounces in 2021, 94,764 stream ounces in 2020) to be delivered and factored by 75% (75% in 2021, 75% in 2020) to estimate equivalent Royalty Ounces Franco-Nevada, through its acquisition of Gold Wheaton in March 2011, receives 25% of gold produced from the Mine Waste Solutions (“MWS”) project. MWS is a gold and uranium tailings recovery operation located near Stilfontein, approximately 160 km west of Johannesburg, South Africa. The operation processes multiple tailings dumps in the area through three production modules. It also includes a modern tailings storage facility approximately 15 km from the gold plant. Franco-Nevada makes ongoing payments equal to the lesser of $400/ounce of payable gold (subject to a 1% annual inflation that commenced December 2012) and the spot price for gold. The current ongoing price is equal to $446.26 per ounce of gold as of December 2022. MWS, South Africa

74 TSX / NYSE: FNV Franco-Nevada Corporation Rest of World Overview Overview Precious Metals Sabodala Location: Senegal Operator: Endeavour Mining Corporation Precious Metals: Au Stream: Fixed gold deliveries / 6% Gold Stream N km 0 20 Sabodala Gold Stream Sabodala Concession OJVG Concession Deposits N km 0 2.5 10 kilometres from mill Mill OJVG Sabodala Sabodala West Golouma Deposits Masato Deposit Niakafiri Deposit Sabodala Pit Tailings Gora Deposit Senegal Mali Mauritania Sabodala Dakar Guinea Atlantic Ocean In December 2019, Teranga announced an agreement to acquire the adjacent Massawa gold project and commenced processing ore from the project in 2020. Franco-Nevada’s stream does not extend to the Massawa gold project area. In September 2020, Franco-Nevada amended its existing Sabodala gold purchase and sale agreement with Teranga to compensate for displacement from the processing of Massawa ore through the Sabodala processing facilities and to provide for certain protocols for the commingling of Sabodala and Massawa ores. The amended agreement provides that effective September 1, 2020, Teranga, now Endeavour, will make fixed deliveries of 783.33 ounces of refined gold per month until 105,750 ounces of gold have been delivered to Franco-Nevada (the “Fixed Delivery Period”) and 6% of production from the stream area thereafter. Following the Fixed Delivery Period which is expected to end in October 2031, a reconciliation will be conducted to determine if Franco-Nevada would have received more or less than 105,750 ounces of gold under the 6% variable stream during such period. Endeavour will be entitled to a credit for an over-delivery which will be applied against the 6% variable stream until depleted and Franco-Nevada will be entitled to a one-time additional delivery in the case of an under-delivery. Franco- Nevada will make ongoing payments for each ounce of gold delivered equal to 20% of the spot gold price. In 2022, Sabodala-Massawa produced 358 koz of gold, with the majority produced from Massawa. Endeavour’s 2023 production guidance for Sabodala-Massawa is between 315 koz and 340 koz of gold. To date production from Sabodala has been less than the fixed ounces delivered to Franco-Nevada. Fixed gold deliveries per year until 2031, and thereafter 6% of gold production from Sabodala concessions Land package offers significant exploration potential 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ 16.8 $ 16.7 $ 21.6 M&I Resource (koz Au) 1 6,333 6,640 3,730 Inferred Resource (koz Au) 1 1,380 1,728 976 P&P Reserves (koz Au) 1 4,086 4,796 2,190 M&I Royalty Ounces (000s) 1, 2 120 112 159 Inferred Royalty Ounces (000s) 2 32 35 47 P&P Royalty Ounces (000s) 2 67 75 85 1 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 In 2022, Franco-Nevada estimates that 49% (42% in 2021) of the remaining Mineral Resources and Mineral Reserves at the Sabodala-Massawa Complex are subject to a rate of 4.8% (6.0% gold stream which is factored by 80% to estimate equivalent Royalty Ounce rate). In 2020, it was estimated that 100% of the Mineral Resources and Mineral Reserves at Sabodala only were subject to a rate of 4.8% In December 2013, Franco-Nevada (Barbados) Corporation, a subsidiary of Franco-Nevada, provided Teranga Gold Corporation (“Teranga”) with a $135 million deposit to fund the acquisition by Teranga of additional future ore sources for its Sabodala mill. With the acquisition, Teranga was able to expand its land package to over 950 km 2 including much of a 70 km prospective greenstone belt. In February 2021, Endeavour Mining Corporation (“Endeavour”) acquired Teranga. Over the first six years, Teranga delivered 22,500 ounces of gold annually to Franco-Nevada, under a fixed arrangement, for a total of 135,000 ounces of gold delivered. The fixed delivery period was fulfilled in December 2019 and, between January 2020 and August 2020, Franco- Nevada received 6% of the gold produced from either the Sabodala or Oromin Joint Venture (“OJVG”) properties.

75 Franco-Nevada Corporation TSX / NYSE: FNV Rest of World Mineral Resources and Mineral Reserves Additional Information Diversified Assets Tasiast Location: Mauritania Operator: Kinross Gold Corporation Precious Metals: Au Royalty: NSR: 2% Tasiast Main Trend 2% NSR Royalty Boundary Tasiast Mauritania Mali Senegal Algeria Original Royalty Area Tasiast Permit Area Plant Site Tasiast License Area, March 2012 Tasiast Mining License Tasiast Sud Gold Prospects Trends Resource/Reserve Target Plant Site Tasiast Sud N km 0 10 Kinross has been implementing a phased expansion of Tasiast. The Phase One expansion was completed during the third quarter of 2018. Phase One increased mill throughput from 8,000 tpd to 12,000 tpd. In September 2019, Kinross announced the Tasiast 24k project, increasing throughput to 21,000 tpd by year-end 2021 and 24,000 tpd by mid-2023. In Q4 2022, Kinross successfully finalized a three-year collective labour agreement at Tasiast with no interruption to operations. Including downtime for tie-ins, and ramp-up periods, the mill is targeting average throughput of between 20,000 and 21,000 tpd in 2023, to produce 610,000 ounces of gold. The mill has achieved 21,000 tpd and is expected to be consistently running at 24,000 tpd by the end of 2023. The Tasiast 24k is expected to extend the mine life by four years to 2033 and Tasiast is expected to produce over 600,000 ounces of gold per annum over the next several years. Tasiast 24k project on schedule to reach 24,000 tpd Prospective 75 km long greenstone belt, including Tasiast Sud 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ 18.3 $ 6.7 $ 14.3 M&I Resource (koz Au) 1 7,239 8,992 9,083 Inferred Resource (koz Au) 1 1,443 971 267 P&P Reserves (koz Au) 1 5,737 6,404 6,330 M&I Royalty Ounces (000s) 1, 2 145 180 182 Inferred Royalty Ounces (000s) 2 29 19 5 P&P Royalty Ounces (000s) 2 115 128 127 1 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 For Royalty Ounce calculation, Franco-Nevada estimates 100% of the Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates a rate of 2.0% is applicable Franco-Nevada has a 2% NSR royalty on the Tasiast project operated by Kinross. Kinross acquired control of Tasiast in September 2010 pursuant to its acquisition of Red Back Mining Inc. The royalty originally covered three large permit areas in Mauritania, West Africa including the Tasiast main trend and Tasiast Sud. The most prominent permit area is Tasiast, with a currently reported mining license area of 312 km 2 and a total exploration license area of 3,118 km 2 . In 2022, Tasiast produced 538,591 ounces of gold compared with 170,502 ounces in 2021. Production in 2021 was impacted by a mill fire in June of that year. Kinross achieved record production and grades in Q4 of 2022. Tasiast, Mauritania

76 TSX / NYSE: FNV Franco-Nevada Corporation Rest of World Overview Overview Precious Metals Subika (Ahafo) Location: Ghana Operator: Newmont Corporation Precious Metals: Au Royalty: NSR: 2% N 2% NSR Royalty Area Awonsu Apensu Subika Plant and Offices Ntotoroso Amoma Kenyase Subika Project Area Note: not to scale In 2022, Ahafo South produced 574,000 ounces of gold compared with 481,000 ounces in 2021 and it is estimated that 68% of project reserves as of December 31, 2022 fall on Franco-Nevada’s royalty ground. Newmont reported a ramp-up of production at Subika following a change in mining method and, in Q4 2022, the Ahafo mill achieved record throughput for the quarter. Production from Ahafo is expected to increase to between 675,000 and 745,000 ounces, in 2023, as underground mining rates continue to improve, delivering higher grade ore to the mill. Production is expected to continue to increase through 2024, due to higher grade at the Subika open pit and increased underground tonnes mined due to the change in mining method at the Subika Underground. Franco-Nevada expects a larger proportion of production to be sourced from ground covered by our royalty in 2023. In 2022, Newmont highlighted significant underground potential at Subika (on royalty ground) and the Apensu pit (not on royalty ground). Production growth through 2024 Estimate 68% of Ahafo South reserves fall on royalty ground Larger share of future production expected on royalty ground 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ 18.0 $ 11.6 $ 10.4 M&I Resource (koz Au) 1 9,160 9,350 9,010 Inferred Resource (koz Au) 1 1,640 1,730 1,220 P&P Reserves (koz Au) 1 5,650 6,100 6,060 M&I Royalty Ounces (000s) 1, 2 78 80 85 Inferred Royalty Ounces (000s) 2 14 15 11 P&P Royalty Ounces (000s) 2 76 82 82 1 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 For Royalty Ounce calculation, Franco-Nevada estimates 68% of Mineral Reserves (68% in 2021, 68% in 2020), 43% of the M&I Mineral Resources (43% in 2021, 47% in 2020) and 43% of the Inferred Resources (43% in 2021, 47% in 2020) are subject to our royalty interest and estimates an average rate of 2.0% is applicable Franco-Nevada has a 2% NSR royalty which covers a 78 km 2 area on the southern portion of Newmont’s Ahafo South mine in Ghana (shown in the schematic). Ahafo South is a separate mine from Newmont’s Ahafo North mine which is located 30 km to the north. The 2% NSR is payable on all ounces produced from the Rank (formerly Ntotoroso) concession. The majority of the Subika deposit, the northern portion of the Awonsu deposit, and the southern tip of the Amoma deposit fall within the Rank mining lease boundary. Atlantic Ocean BURKINA FASO COTE D’IVOIRE GHANA TOGO BENIN NIGERIA NIGER MALI ALGERIA Subika Subika, Ghana

77 Franco-Nevada Corporation TSX / NYSE: FNV Rest of World Mineral Resources and Mineral Reserves Additional Information Diversified Assets Karma Location: Burkina Faso Operator: Néré Mining SA Precious Metals: Au Stream: 4.875% Gold Stream N km 0 10 Karma Gold Stream Karma Project Area Area of Interest 5 km Current Exploitation Area Bonguirga Tougou Bogoya Youba Rounga Kao Nord Kao Sud Ouahigouya Burkina Faso North Kao Gold Zone Kao Pit Nami Pit Rambo Pit Goulagou I Pit Goulagou II Pit Nami Pit Kao Pit Namissiguima Ouest 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ 3.3 $ 9.9 $ 28.9 M&I Resource (koz Au) 1 1,898 1,898 2,042 Inferred Resource (koz Au) 1 679 679 681 P&P Reserves (koz Au) 1 158 158 293 M&I Royalty Ounces (000s) 1, 2 74 74 80 Inferred Royalty Ounces (000s) 2 26 26 27 P&P Royalty Ounces (000s) 2 6 6 11 1 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 100% of the Mineral Resources and Mineral Reserves at Karma are subject to a rate of 3.9% (6.5% gold stream which is factored by 80% to equate to a Royalty Ounce as well as Franco-Nevada’s 75% interest) In August 2014, Franco-Nevada (Barbados) Corporation, a subsidiary of Franco-Nevada, and Sandstorm Gold Ltd. (“Sandstorm”) committed to provide up to $120 million in stream funding to assist the construction of the Karma Project in Burkina Faso, West Africa, in a syndicated stream transaction. Franco-Nevada committed 75% of the funding and Sandstorm committed the remaining 25%. Franco-Nevada ultimately contributed $78.75 million ($75 million with $3.75 million as part of an increase option). The Karma Project was constructed by True Gold Mining Inc. which was acquired by Endeavour in March 2016. In March 2022, Endeavour announced the sale of its 90% interest in Karma to Néré Mining SA (“Néré”). Under the stream agreement, Endeavour delivered to Franco-Nevada 15,000 ounces of gold per year, beginning in March 2016 through to the end of February 2021, for a total of 75,000 ounces of gold delivered. The increase option was repaid in 8 quarterly deliveries totaling 5,625 ounces of gold by Q1 2019. Sandstorm receives deliveries for its 25% interest directly. After February 2021, Endeavour and, now Néré, shall deliver to Franco-Nevada an amount of gold equal to 4.875% of the gold produced at Karma over the life of the mine in exchange for ongoing payments equal to 20% of the spot price of gold. The Karma Project started production in 2016 and, in 2021, produced 88,000 gold ounces. Operations at Karma have been suspended following security incidents at the mine in June and August 2022. As a result, Franco-Nevada only sold 1,759 GEOs from the mine in 2022, compared with 5,556 GEOs in 2021. The stream agreement covers all of the concessions within the 856 km 2 Karma Project and also includes a defined area of interest of 5 km surrounding the borders of the project. Prospective land package of 856 km 2 Trailing 4.875% gold stream in place Atlantic Ocean BURKINA FASO COTE D’IVOIRE GHANA TOGO BENIN NIGERIA NIGER MALI ALGERIA Karma Karma, Bukina Faso

78 TSX / NYSE: FNV Franco-Nevada Corporation Rest of World Overview Overview Precious Metals Duketon Location: Australia Operator: Regis Resources Ltd. Precious Metals: Au Royalty: NSR: 2% Deposits Duketon Royalty Area 2% NSR km 0 30 Perth Port Hedland Kalgoorlie Norseman Kambalda Baneygo Erlistoun King John Garden Well Dogbolter Gloster Moolart Well Petra Rosemont Reichelts Find Current Royalty Tenements Original Royalty Tenements * Additional royalty lands to south not shown due to scale. N Russells Find Tooheys Well Duketon South Operations (“DSO”): Regis reported DSO production of 248,544 ounces of gold for calendar year 2022. All of DSO production was subject to Franco-Nevada’s royalty in 2022. DSO has five operating mines at Garden Well, Rosemont, Erlistoun, Tooheys Well and Banyego. Franco-Nevada’s royalty covers all of DSO’s Mineral Resources and Mineral Reserves, except for Ben Hur and a small portion of Erlistoun. DSO production began in 2012 at Garden Well which has a 5 Mt per annum plant. Rosemont has a 2.5 Mt per annum plant and milled ore from Rosemont is piped 10 km in a slurry form for leaching at Garden Well. Ore from satellite deposits at Erlistoun, Tooheys Well and Ben Hur is hauled to Garden Well for processing. Garden Well South Underground production commenced in March 2022, with first stope production in October 2022. Garden Well Main Underground scoping study commenced in 2022 and an exploration decline was approved. In January 2022 heavy rains caused a pit wall failure and halted production at the Rosemont Main Pit, which had been due for completion in June 2022. Production at Rosemont Underground and Rosemont North Pit was not affected. Duketon North Operations (“DNO”): Regis reported DNO production of 79,239 ounces of gold for calendar year 2022. DNO has five operating mines at Moolart Well, Gloster, Dogbolter, Anchor and Petra. Moolart Well has been in production since 2010 and has a 2.5 Mt per annum plant. Moolart Well is covered by Franco-Nevada’s royalty, but has provided only a small portion of ore to the Moolart Well mill since 2016. The majority of ore processed through the Moolart Well plant since 2016 comes from four satellite deposits. Gloster and Anchor satellite deposits are not covered by Franco-Nevada’s royalty. Dogbolter and Petra satellite deposits are partially covered by Franco-Nevada’s royalty. Approximately 73% of DNO production was subject to Franco-Nevada’s royalty in 2022. Exploration: With an extensive land position and an active exploration program, Regis continues to add to the overall Mineral Resources and Mineral Reserves at Duketon. Garden Well South Underground production commenced March 2022 Garden Well Main Underground scoping study underway and exploration decline approved Extensive land position and active exploration program 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ 10.7 $ 11.1 $ 9.6 M&I Resource (koz Au) 1 4,120 3,950 4,160 Inferred Resource (koz Au) 1 1,030 610 500 P&P Reserves (koz Au) 1 1,400 1,990 1,540 M&I Royalty Ounces (000s) 1, 2 71 72 77 Inferred Royalty Ounces (000s) 2 16 11 9 P&P Royalty Ounces (000s) 2 25 37 29 1 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 For Royalty Ounce calculation, Franco-Nevada estimates 88% (93% in 2021, 93% in 2020) of Mineral Reserves and 86% of the Mineral Resources (91% in 2021, 92% in 2020) are subject to our royalty interest and estimates a rate of 2.0% is applicable Franco-Nevada has a 2% NSR royalty that covers 2,678 km 2 of the Duketon gold project in Western Australia. The project is operated by Regis Resources Ltd. (“Regis”) and includes nine operating mines and five other deposits at various stages of development. The royalty covers all known Mineral Resources and Mineral Reserves, except for the Gloster, Ben Hur and Anchor satellite deposits and portions of the Erlistoun, Dogbolter and Petra satellite deposits. Regis reported production of 327,783 ounces of gold for 2022 and provided production guidance of 320,000 to 355,000 ounces of gold for the fiscal year ending June 30, 2023. During 2022, approximately 91% of total Duketon production was subject to Franco-Nevada’s royalty and a similar portion is expected in 2023. Duketon, Australia

79 Franco-Nevada Corporation TSX / NYSE: FNV Rest of World Mineral Resources and Mineral Reserves Additional Information Diversified Assets Edikan Location: Ghana Operator: Perseus Mining Limited Precious Metals: Au Royalty: NSR: 1.5% N Edikan Gold Mine Royalty Area 1.5% NSR km 0 10 Mining License and Royalty Area Exploration License Deposit Ayanfuri Mine Licenses Accra Edikan Gold Mine Mill Site Esuajah South Esuajah North Fetish Chirawewa Ataasi Mampon Abnabna Fobinso Dadieso Ghana 2022 production at Edikan was 173,235 ounces of gold compared with 150,330 ounces of gold in 2021. In February 2023, Perseus announced that production in Perseus’ 2023 financial year (July 1, 2022 – June 30, 2023), is expected to be between 193,500 to 206,000 gold ounces. Exploration opportunities are expected to further extend the current mine life at Edikan with the operator focusing on new exploration targets within trucking distance. In July 2022, Perseus completed a feasibility study on development of the Nkosuo prospect which is approximately 7 km from the Edikan mill (not covered by Franco-Nevada’s royalty). Planned trucking of ore and processing of the Nkosuo ore at the Edikan mill is expected to increase the project mine life to 2027, allowing for future near-mine discoveries which could potentially fall on royalty ground. Exploration potential to further extend current mine life 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ 4.4 $ 3.9 $ 4.4 M&I Resource (koz Au) 1 1,885 2,326 2,573 Inferred Resource (koz Au) 1 283 300 344 P&P Reserves (koz Au) 1 1,344 1,318 1,477 M&I Royalty Ounces (000s) 1, 2 28 35 39 Inferred Royalty Ounces (000s) 2 4 5 5 P&P Royalty Ounces (000s) 2 20 20 22 1 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 For Royalty Ounce calculation, Franco-Nevada estimates 100% of the Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates a rate of 1.5% is applicable In 2011, Franco-Nevada acquired an effective 1.5% NSR royalty on Perseus Mining Limited’s (“Perseus”) Edikan gold mine within the Ashanti Gold Belt in Ghana, which includes two mining leases of approximately 93 km 2 . Edikan is a large-scale, low-grade multi open-pit operation that began commercial production in 2012, with ore processed through a centralized processing facility. In 2015, a Supplementary Environmental Impact Statement for mining the Fetish, Chirawewa, Bokitsi (collectively referred to as the “Eastern Pits”) and Esuajah North deposits was approved. After a mill upgrade and housing relocation project was completed at the end of 2016, the Esuajah South deposit was included in Edikan’s production profile and an updated life of mine plan was prepared. Gold production was forecast to average 212,000 ounces per annum over Edikan’s estimated mine life of 6.2 years from July 1, 2020 forward, including gold production of approximately 231,000 ounces per annum on average over the first four years. Edikan, Ghana

80 TSX / NYSE: FNV Franco-Nevada Corporation Rest of World Overview Overview Precious Metals Matilda (Wiluna) South Kalgoorlie Location: Australia Operator: Wiluna Mining Corporation Limited Precious Metals: Au Royalty: NSR: 3.6% Location: Australia Operator: Northern Star Resources Limited Precious Metals: Au Royalty: NSR: 1-4% Franco-Nevada holds a 3.6% NSR royalty on all gold production from the Matilda/Wiluna Gold Project located in Western Australia, covering all of the 1,150 km 2 property. Wiluna was discovered in 1896 and has produced in excess of 4.0 million ounces of gold to date, with nearly continuous production from 1987 to 2013. Wiluna Mining Corporation Limited (“WMC”) acquired the Wiluna Gold Operation in 2014 and resumed mining operations in 2016. Wiluna has a 2.1 Mtpa CIL treatment plant and processes ore from several open-pit and underground deposits. Total production for 2022 was 67,989 ounces of gold. In December 2021, WMC commissioned a 750,000 tpa Sulphide Ore Concentrate Plant which was built at a cost of A$26 million. WMC went into Voluntary Administration on July 20, 2022. Mining operations ceased on December 14, 2022. Processing low-grade stockpiles continued until February 2023. WMC plans to reprocess tailings for approximately 12-18 months. Franco-Nevada received $0.2 million of royalty revenue from Matilda/Wiluna in 2022. For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates a rate of 3.6% is applicable Northern Star Resources Limited (“Northern Star”) operates the South Kalgoorlie Operation (“SKO”) which has been producing gold since 1989. SKO is located 15 km south of Kalgoorlie in Western Australia. Franco- Nevada holds a 1.75-4% NSR royalty for gold and a 1-2.25% NSR royalty for other minerals which covers 470 km 2 of the SKO tenements including the HBJ underground mine and the Mt Marion and Pernatty satellite deposits, along with the 1.2 Mtpa Jubilee Mill. Effective January 1, 2023 the royalty agreement was amended to increase the royalty rate on the northern and central sections of the HBJ underground mine from 1.75% to 4%. Northern Star combines SKO with the Kalgoorlie, Carosue Dam and Kanowna Belle gold mines, and reported total production of 847,372 ounces of gold at the combined Kalgoorlie Production Centre for the year ended December 31, 2022. Northern Star placed the Jubilee mill on care and maintenance in July 2022, with ore feed directed to Kanowna Belle and Kalgoorlie. Franco-Nevada estimates that the royalty production accounts for approximately 7% of total combined Kalgoorlie Production Centre production. Franco-Nevada received $2.4 million of royalty revenue from SKO in 2022. For Royalty Ounce calculation, Franco-Nevada estimates 75% of Mineral Resources and 82% of Mineral Reserves are subject to our royalty interest and estimates a rate of 1.75% is applicable Kiziltepe Location: Türkiye Operator: Zenit Madencilik San. ve Tic. A.S. Precious Metals: Au & Ag Royalty: NSR: 2.5% Production guidance for 2023 is expected to be approximately 18,000 ounces of gold. Open-pit mining during 2023 will continue largely at the Arzu North, Derya and Banu pits. Ariana Resources has previously estimated average production of 20,000 ounces of gold equivalent per year over an 8-year mine life with potential to increase to at least 10 years including satellite deposits. Production at Kiziltepe is expected to be lower in 2023, due to lower-grade ore and a reduced ore throughput rate to the mill of approximately 350,000 tonnes per annum. Extensive near-mine exploration is underway, with positive results received across various vein systems covered by Franco-Nevada’s royalty. In 2023, recent geophysics will be fully assessed to determine the drilling required to adequately test these newly identified targets. For Royalty Ounce calculation, Franco-Nevada estimates 100% of the Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates a rate of 2.5% is applicable. Franco-Nevada has a 2.5% NSR on the Kiziltepe gold - silver mine located in Türkiye which started production in April 2017. Kiziltepe is operated by Zenit Madencilik San. ve Tic. A.S., a JV owned by Özaltin Holding A.S. (53%), Ariana Resources PLC (“Ariana Resources”) (23.5%) and Proccea Construction Co. (23.5%). Kiziltepe produced 28,421 ounces of gold in 2022 compared with 20,737 ounces of gold in 2021. Kiziltepe, Türkiye

81 Franco-Nevada Corporation TSX / NYSE: FNV Rest of World Mineral Resources and Mineral Reserves Additional Information Diversified Assets Sissingué Location: Côte d’Ivoire Operator: Perseus Mining Limited Precious Metals: Au Royalty: NSR: 0.5% Perseus commenced commercial gold production at the end of March 2018 and, by December 2022, approximately 393,000 ounces of gold had been produced at the mine. Perseus reported 2022 production from Sissingué of 53,094 ounces of gold and Franco-Nevada received $0.5 million of royalty revenue for the year. On March 28, 2022, Perseus announced that the mine life for Sissingué had been extended to March 2026 with estimated average annual production of 72,000 ounces of gold. Ore will be sourced from the SGM, Bagoé and Fimbiasso deposits and a total of 252,000 ounces of gold are forecast to be recovered over the life of the operation. Production in the latter years is forecast to come primarily from the Fimbiasso and Bagoé satellite deposits, which is not covered by Franco-Nevada’s royalty. There is, however, potential for a further mine life extension by processing low grade ore stockpiles. Perseus continues to explore the property to potentially increase the mine life. For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates a rate of 0.5% is applicable In 2013, Franco-Nevada acquired a 0.5% NSR on tenements that comprise the Sissingué gold project located in Côte d’Ivoire operated by Perseus. The project is comprised of the Sissingué Gold Mine (“SGM”) and the satellite deposits Fimbiasso and Bagoé. Franco-Nevada’s royalty covers SGM but does not cover the Fimbiasso and Bagoé claims. Pandora Location: South Africa Operator: Sibanye-Stillwater Precious Metals: PGM Royalty: NPI: 5% Under Sibanye-Stillwater, Pandora is now grouped as part of its Marikana operations. Franco-Nevada has a 5% NPI royalty that includes a small minimum annual payment of 100,000 South African Rand. The underground mining operation exploits the UG2 reef horizon with access via a decline from surface. Pandora hosts a large orebody. Historical studies have evaluated with parallel decline that would substantially increase production levels. A deepening of the decline was completed in 2013, accessing the nine and ten levels. Franco-Nevada has received only modest NPI payments in recent years, although it is anticipated that a good portion of planned future mining is covered by Franco-Nevada’s 5% NPI royalty. For Royalty Ounce calculation, Franco-Nevada estimates 80% of the Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates an equivalent NSR royalty rate of 0.77% (1.03% in 2021, 1.04% in 2020) is applicable assuming an all in cost of $1,239/ounce ($1,199/ounce in 2021, $1,212 in 2020). For 2020 through 2022, Franco-Nevada has assumed a lower margin for the project than in previous years. PGM ounces are converted into Royalty Ounces assuming $900/ounce Pt and $1,500/ ounce Pd ($1,000/ounce Pt and $2,100/ounce Pd in 2021, $1,100/ounce Pt and $2,200/ounce Pd in 2020) The Pandora property forms part of the Bushveld complex approximately 40 km east of the town of Rustenburg, South Africa and is 100% owned by Sibanye-Stillwater following its acquisition of Lonmin plc (“Lonmin”) in June 2019. Yandal (Bronzewing) Location: Australia Operator: Northern Star Resources Limited Precious Metals: Au Royalty: NSR: 2% Yandal project also includes the Julius deposit where Franco-Nevada has a 1.5% NSR royalty under a separate royalty agreement. During 2021, Northern Star developed Julius as a satellite deposit of the Jundee Gold Mine and Franco-Nevada received $1.2 million of royalty revenue from Julius in 2022. Northern Star announced plans to return Bronzewing into production at a rate of 150,000 ounces of gold per year, using the Orelia Pit as the primary ore source, which is 100 km north of the Thunderbox Mill, where the ore will be processed. Allocated capital for the project was A$270 million; (i) A$180 million to double capacity at the Thunderbox Mill from 3.0 Mtpa to 6.0 Mtpa and (ii) A$90 million to develop the Orelia Pit. Thunderbox Mill expansion was completed in December 2022 and commissioning underway. Orelia Pit scheduled for production in Northern Star’s fiscal year ending June 2024. For Royalty Ounce calculation, Franco-Nevada estimates 47% of Mineral Resources and Mineral Reserves (100% in 2021, 100% in 2020) are subject to our royalty interest and estimates a rate of 2.0% is applicable Bronzewing is located in the Yandal Greenstone Belt of Western Australia. Franco-Nevada’s royalty covers 590 km 2 including all Mineral Resources identified. Bronzewing produced 2.19 million ounces of gold from several open-pit and underground deposits from 1994 to 2004 and a further 0.19 million ounces from open-pit deposits from 2010 to 2013. The project has changed ownership several times since 2013. Northern Star acquired the project in November 2019 in a A$193 million take-over deal. The

82 TSX / NYSE: FNV Franco-Nevada Corporation Rest of World Overview Overview Precious Metals Aphrodite Location: Australia Operator: St Barbara Limited Precious Metals: Au Royalty: GR: 2.5% Aphrodite Gold project is located in Western Australia, 65 km northwest of Kalgoorlie. Franco-Nevada’s 2.5% gross royalty covers a 29 km 2 area and all Aphrodite Mineral Resources. An advance minimum royalty of A$250,000 per annum applies from November 1, 2017 onward. St Barbara Limited (“St Barbara”) acquired Bardoc Gold Limited for A$157 million in April 2022, and took control of the Bardoc Gold Project. Aphrodite is the largest of the five deposits at Bardoc. Also in April 2022, St Barbara announced plans to develop Aphrodite in conjunction with an expansion of the Leonora Processing Plant, located 180 km north by rail, increasing throughput from 1.4 Mtpa to 2.1 Mtpa and allowing treatment of Aphrodite’s refractory ore. In October 2022, St Barbara decided to defer major capital expenditures for at least one year, including the expansion and refractory ore circuit at the Leonora Processing Plant and construction of the Aphrodite mine. For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates a rate of 2.5% is applicable Séguéla Perama Hill Location: Côte d’Ivoire Operator: Fortuna Silver Mines Inc. Precious Metals: Au Royalty: NSR: 1.2% Location: Greece Operator: Eldorado Gold Corporation Precious Metals: Au Royalty: NSR: 2% In March 2021, Franco-Nevada acquired a 1.2% NSR from Roxgold Inc. (“Roxgold”) on the license covering its Séguéla open-pit gold project located in Côte d’Ivoire. The royalty is subject to a buy-back of up to 50% for a period of time. In July 2021, Fortuna Silver Mines Inc. (“Fortuna”) acquired Roxgold Inc. Roxgold completed a preliminary economic assessment in April 2020 and, in May 2021, released the results of a feasibility study that outlined a 9-year open-pit mine producing an average of 120,000 ounces of gold per year. In September 2021, Fortuna announced a positive construction decision for Séguéla, with first gold pour projected by mid-2023. Fortuna also indicated 130,000 ounces of gold production annually for the first six years of production. As of February 2023, construction activities are progressing on time and on budget with the overall project approximately 90% complete, with commissioning remaining on schedule for Q2 2023. In March 2022, Fortuna announced a maiden Inferred Mineral Resource estimate for the Sunbird discovery. Fortuna has stated that the focus at Sunbird is currently on upgrading its resource confidence with the ultimate intention of conversion to mineral reserves, expanding reserves at Séguéla and increasing the 9-year life-of-mine. In 2023, Fortuna plans to continue exploring the land package with an active exploration program to generate and test near-mine targets. For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates a rate of 1.2% is applicable Franco-Nevada has a 2% NSR on the Perama Hill project held by Eldorado Gold Corporation (“Eldorado”). The Perama Hill gold project is located in the Thrace region of northeastern Greece and consists of two mining titles covering an area of 19 km 2 and two mining exploration licenses covering an area of 18 km 2 . Eldorado has been challenged in getting the needed approvals to advance its activities in Greece. Perama Hill has an estimated Mineral Reserve of 1,250,000 ounces (12.5 million tonnes grading 3.11 g/t) and contemplates operating as a small open-pit mine using a conventional carbon-in-leach gold recovery circuit. Project optimization and studies are ongoing to prepare permitting documentation. For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates a rate of 2.0% is applicable

83 Franco-Nevada Corporation TSX / NYSE: FNV Mineral Resources and Mineral Reserves Additional Information Diversified Assets Precious Metals Exploration Assets Franco-Nevada has interests in 234 exploration stage mining properties (148 precious metals assets and 86 diversified (mining) assets) as at April 12, 2023. Exploration assets represent interests on projects where technical feasibility and commercial viability of extracting a mineral resource are not demonstrable. Some of these assets have associated Mineral Resources that, to be economic, may require additional Mineral Resources, higher commodity prices, permitting approval, lower geopolitical risk or a better financing environment. A good portion of the properties are inactive and may not see activity again. Some of the properties are in proximity to producing or advanced projects. Franco-Nevada has not visited or audited its full list of exploration assets and has relied on operator reports and/or public disclosures to determine which properties are in good standing. It is possible some properties may have lapsed. The following table is a list of the precious metals exploration assets of Franco-Nevada as at April 12, 2023. A list of the diversified (mining) exploration assets can be found on pages 102-103. Assets that have had their terms or leases expire and have been written off by Franco-Nevada are not listed. Precious Metals Exploration Assets as at April 12, 2023 Asset Operator Interest and % 1 South America Terra Escura , Brazil Mineração Tarauaca Industria e Comercio S.A. 1-2% NSR (All Metals); 4% Cash Dividends La Coipa , Chile Kinross Gold Corporation 3% NSR (Au) San Guillermo , Chile Austral Gold Limited (Guanaco Compania Minera SpA) 1-2% NSR (All Minerals) Volcan (Ojo de Agua) , Chile Hochschild Mining plc (Tiernan Gold Corp.) 1.5% NSR (All Minerals) Ayahuanca , Peru Apumayo SAC 1% NSR (Au) Choreveco , Peru Minera del Norte S.A./Aruntani S.A.C. 0.1-0.3% NSR (Au) Cristiana , Peru Fresnillo Peru S.A.C. 1.5% NSR (All Metals) Los Pinos , Peru Tamerlane Ventures Inc. 0.5% NSR (All Metals) Mansa Musa (Minasnioc) , Peru Peruvian Metals Corp. 2% NSR (All Metals) Parinacochas (Urbaque) , Peru Hochschild Mining plc 2% NSR (All Minerals) Pukaqaqa (Antoro Sur) , Peru Nexa Resources Peru S.A.A. 1-2% NSR (All Minerals) Yanamina , Peru Wealth Minerals Ltd. 5% NSR (All Minerals) Central America and Mexico Cerro San Pedro , Mexico New Gold Inc. 1.95% NSR (Au, Ag) United States Cripple Creek , Colorado Searchlight Exploration LLC 3% NSR (Au, Ag) La Plata Allard Stock , Colorado Metallic Minerals Corp. 1.5% NSR (All Minerals) Corbin Wickes , Montana Eastern Resources, Inc. (Elkhorn Goldfields LLC) 5% NSR (Au) Elkhorn , Montana Eastern Resources, Inc. (Elkhorn Goldfields LLC) 1.1875% NSR (Au) Lewis and Clark County , Montana Hartmut W. Baitis et al 1% NSR (All Minerals) Carlin (Currant Creek) , Nevada Carlin Gold Corp. 3% NSR (All Minerals) Carlin (Railroad) , Nevada Gold Standard Ventures Corp. 1% NSR (All Minerals) Carlin (Willow Creek) , Nevada Carlin Gold Corp. 1% NSR (All Minerals) Getchell , Nevada Barrick Gold Corporation 2% NSR (Au) Goldstrike (Rodeo Creek) , Nevada Nevada Gold Mines LLC 4% NSR; capped at $500K (Au, Ag) Granite Creek (Getchell) , Nevada i-80 Gold Corp. (Osgood Mining Company LLC) 2% NSR (Au) Limousine Butte , Nevada NevGold Corp. 1.5-2.5% NSR (Au) Marigold (SAR) , Nevada SSR Mining Inc. 5% NSR (Au) Marigold (Trout Creek/Valmy) , Nevada Nevada Gold Mines LLC/SSR Mining Inc. 3% NSR (Au) Mountain View , Nevada Millennial Precious Metals Corp. 1% NSR (All Minerals) Nevada Mineral-Eureka County , Nevada Nevada Gold Mines LLC 2% NSR (All Minerals) Preble , Nevada Barrick Gold Corporation 10% NP (Au) Preble (Pinson Fee) , Nevada Barrick Gold Corporation 1.5-7.5% NSR (Au, Ag) Rain-Emigrant-Saddle , Nevada Nevada Gold Mines LLC 1.5% NSR (All Minerals) Sandman , Nevada Gold Bull Resources Corp. 0.5674% NSR on initial 200K oz (Au) Sleeper , Nevada Paramount Gold Nevada Corp. 2% NSR (All Minerals) Tonkin Springs , Nevada McEwen Mining Inc. 1-2% NSR (Au) Kings Canyon , Utah Pine Cliff Energy Ltd. 4% NSR (Au) Silver Bell , Utah Unico, Inc. 5% NSR plus other (Au, Cu, Pb, Zn) Tintic , Utah Ivanhoe Electric Inc. 1% NSR (All Minerals) TUG (Tecoma) , Utah Fronteer Development (USA) Inc. 5% NSR (All Minerals) Precious Metals Exploration Assets

84 TSX / NYSE: FNV Franco-Nevada Corporation Overview Overview Precious Metals Asset Operator Interest and % 1 Canada Spences Bridge (Talisker) , British Columbia Talisker Resources Ltd. 2.5% NSR (All Minerals) Spences Bridge (Westhaven) , British Columbia Westhaven Gold Corp. 2% NSR (All Minerals) Taken , British Columbia Independence Gold Corp. 2-4% NSR (All Minerals) (buy-back option to 1%) Tide , British Columbia 0945473 B.C. Ltd. 1.5% NSR (All Minerals) Maverick (Nokomis) , Manitoba Minnova Corp. 2-3% NSR (All Minerals) Maverick (Puffy Lake) , Manitoba Minnova Corp. 2-3% NSR (All Minerals) Oxford Lake , Manitoba Alto Ventures Ltd. 1.5-2.5% NSR (All Minerals) Clarence Stream , New Brunswick Galway Metals Inc. 1% NSR (All Minerals) Clan Lake (Sito Lake) , Northwest Territories Roland T. Trenaman 2% NSR (All Minerals) Hyde , Nunavut Exploratus Ltd. 2.5% NSR (All Minerals) Catharine 1 , Ontario Canadian Exploration Services Limited 1/3 of a 2-3% NSR (All Minerals) Catharine 4 , Ontario Canadian Exploration Services Limited/Northstar Gold Corp. 2-3% NSR (All Minerals) Detour (Gowest) , Ontario Agnico Eagle Mines Limited 1% NSR (All Minerals) (buy-back option on 0.5%) Detour (Mikwam) , Ontario and Quebec Aurelius Minerals Inc. 0.4824% NSR (All Minerals) Edwards , Ontario Alamos Gold Inc. (Richmont Mines Inc.) 2% NSR (All Minerals) Golden Highway (Aquarius) , Ontario Agnico Eagle Mines Limited 1-2% NSR (All Minerals) Golden Highway (Central Timmins) , Ontario Agnico Eagle Mines Limited 0-1% NSR (All Minerals) Golden Highway (Kerrs Leases) , Ontario Canoe Mining Ventures Corp. (Sheltered Oak Resources Corp.) 1-2% NSR (Au) Golden Highway (Stock) , Ontario McEwen Mining Inc. 1% NSR (All Minerals) Golden Highway (Stoughton) , Ontario Silver Lake Resources Limited 0.5-2.5% NSR (Au) Hemlo (JOA) , Ontario Hemlo Explorers Inc. 0.5-1% NSR (Au) Kirkland Lake (Agnico 2% NSR) , Ontario Agnico Eagle Mines Limited 2% NSR (Au) Kirkland Lake (Underlying 2% NSR A&D) , Ontario Agnico Eagle Mines Limited 2% NSR (Au) Kirkland Lake (Underlying 3% NSR B) , Ontario Agnico Eagle Mines Limited 2-3% NSR (Au) Larose , Ontario Tashota Resources Inc. 0.5% NSR (All Minerals) Marathon PGM (Sally Deposit) , Ontario Generation Mining Limited 2% NSR (Pt, Pd) Musselwhite (North) , Ontario Newmont Corporation 2% NSR (All Minerals) Red Lake (Madsen: Aiken-Russet claims) , Ontario Pure Gold Mining Inc. 1% NSR; capped at C$1M (All Minerals) Red Lake (Madsen: Newman-Heyson claims) , Ontario Pure Gold Mining Inc. 1.5-2% NSR (All Minerals) Red Lake (Newman-Todd) , Ontario Trillium Gold Mines Inc./Heliostar Metals Ltd. 1.5-2% NSR (Au) Red Lake (Skinner) , Ontario Prosper Gold Corp. 1% NSR (All Minerals) Shining Tree (Creso) , Ontario Baselode Energy Corp. Option to acquire 2% NSR (All Minerals) Shining Tree (Knight) , Ontario Timothy A. Young 2-3% NSR (PGM, Au) Sudbury-Podolsky , Ontario KGHM International Ltd. Stream 50% (PGM, Au) Timmins (Cripple Creek) , Ontario Alamos Gold Inc. 0.3825-1.75% NSR (Au) Timmins (Project 81-ArcPacific Resources) , Ontario ArcPacific Resources Corp. 5% NSR (All Minerals) Timmins (Project 81-Kreative) , Ontario Kreative Ventures Limited 5% NSR (All Minerals) Timmins (Project 81-Noble) , Ontario Noble Mineral Exploration Inc. 2% NSR (All Minerals) Timmins (Sewell) , Ontario GFG Resources Inc. 1.5-2.5% NSR (Au) Timmins (West Porcupine) , Ontario GFG Resources Inc. 2% NSR (All Minerals) Timmins (Whitney 1) , Ontario John Prochnau 2.5% NSR (All Minerals) Timmins (Whitney 2) , Ontario Newmont Corporation 2.5% NSR (All Minerals) Windarra (East Property) , Ontario Wesdome Gold Mines Ltd. 0.5% NSR (All Minerals) Barry , Quebec Bonterra Resources Inc. 0.5% NSR (All Minerals) (buy-back option on 0.25%) Cadillac-Sphinx , Quebec Agnico Eagle Mines Limited 1.5% NSR (All Minerals) Casa Berardi (Caribou-Estrees) , Quebec Yorbeau Resources Inc. 1.275-2.125% NSR (Au, Base Metals) Casa Berardi (Dieppe) , Quebec Hecla Quebec Inc. 2-3% NSR (Au) Destiny (Rochebaucourt) , Quebec Big Ridge Gold Corp./Clarity Gold-optionee 3% NSR (All Minerals) Eastmain , Quebec Benz Mining Corp. 1-1.15% NSR on initial 250K oz (Au) Fenelon , Quebec Wallbridge Mining Company Limited 1% NSR (All Minerals) Galinee , Quebec Glencore Canada Corporation 1.5-2% NSR (Au) Martiniere , Quebec Wallbridge Mining Company Limited 2% NSR (All Minerals) Norlartic-Camflo , Quebec Pan American Silver Corp. 25% NPI (All Minerals) N2 (Northway-Noyon) , Quebec Wallbridge Mining Company Limited 1% NSR (All Minerals) Radisson , Quebec Canadian Mining House 2% NSR (All Minerals) Wilson (Verneuil) , Quebec Cartier Resources Inc. 0.5% NSR (All Minerals) Flume , Yukon Commander Resources Ltd. 2.5% NSR (All Minerals) (buy-back option to 1%) Hy , Yukon Lions Bay Mining Corp. 2% NSR (All Minerals) (buy-back option to 1%) Precious Metals Exploration Assets

85 Franco-Nevada Corporation TSX / NYSE: FNV Mineral Resources and Mineral Reserves Additional Information Diversified Assets Asset Operator Interest and % 1 Australia Brown’s Creek , New South Wales Australian Native Landscapes/Hargraves Resources NL 2.25% NSR (All Minerals) Brown’s Creek (Blayney) , New South Wales Regis Resources Limited 2.25% NSR (All Minerals) Brocks Creek (Zapopan) , Northern Territory Agnico Eagle Mines Limited A$20/oz (Au) Reynolds Range , Northern Territory Prodigy Gold NL 1-2.5% NSR (Au) Rover , Northern Territory Castile Resources Limited 1.5-2.5% NSR (All Minerals) Spring Hill , Northern Territory PC Gold Pty Ltd A$5.70-13.30/oz (Au) Tennant Creek , Northern Territory Emmerson Resources Limited 1.29% NSR (Au) Tennant Creek (Chariot) , Northern Territory Emmerson Resources Limited A$17.10 or A$30/oz (Au) Tennant Creek-Evolution , Northern Territory CuFe Ltd/Evolution Mining Limited 1.29% NSR (Au) Tennant Creek (Orlando) , Northern Territory CuFe Ltd/Evolution Mining Limited A$30/oz; capped at 64K oz (Au) Mt Carlton , Queensland Evolution Mining Limited 2.75% GR (All Minerals) Mt Carlton (Crush Creek) , Queensland Evolution Mining Limited 2.75% GR (All Minerals) Top Camp , Queensland Orion Metals Limited 0.5% GR (Au)/NPI (Other Minerals) Twin Hills , Queensland Jinan High-Tech Development Co., Ltd. 2.5% NSR (Au) Admiral Hill , W. Australia Focus Minerals Limited Production Payment (Au) Agnew , W. Australia Gold Fields Limited 2.5% GR (All Minerals) Agnew (Cox) , W. Australia Gold Fields Limited 5% GR (Au) Agnew (Miranda Gold) , W. Australia Gold Fields Limited 3% GR (Au) Agnew (Vivien Gold Mine) , W. Australia Ramelius Resources Limited 3% GR (Au) Bullabulling , W. Australia Zijin Mining Group Co Ltd 1% GR (Au) Bullfinch , W. Australia Torque Metals Limited 1% NSR (Au) Duketon (Southwest) , W. Australia Regis Resources Limited 2% NSR (All Minerals) Duketon (West) , W. Australia Regis Resources Limited/Duketon Mining Limited (Ni only) 2% NSR (All Minerals) Flushing Meadow , W. Australia Yandal Resources Limited 1% NSR (Au, Other Minerals) Glenburgh , W. Australia Gascoyne Resources Ltd 1.5% NPI (All Minerals) Granny Smith (Windich South) , W. Australia Gold Fields Limited 1% NSR (All Minerals) Gum Creek (Gidgee/Wyooda Thangoo) , W. Australia Horizon Gold Limited A$0.60/tonne (Au) Gum Creek (Sandstone II/Howards) , W. Australia Horizon Gold Limited A$0.35/dry tonne (All Minerals) Jeffreys Gold , W. Australia Mincor Resources NL 2% GP (Au) Kalgoorlie Super Pit (Western Lease) , W. Australia Northern Star Resources Limited 2.5% GR (Au) Lake Maitland , W. Australia Toro Energy Limited (Uranium)/Mega Uranium Ltd (Au, Other Minerals) 1% NSR (All Minerals) Marvel Loch (May Queen) , W. Australia Shandong Tianye Real Estate Development Group Co., Ltd. A$0.50-1.00/cubic metre (Au) Moyagee , W. Australia Musgrave Minerals Ltd 1.575-2.1% NSR (All Minerals) Mungari (Carbine North/Chadwin’s Dam) , W. Australia Evolution Mining Limited 3% NPI (All Minerals) Mungari (Lady Jane) , W. Australia Evolution Mining Limited 4.5% GR (Au) Munni Munni , W. Australia Alien Metals Ltd One-time payment on production (Au and/or Pt) Murrin Murrin Gold , W. Australia Zeta Resources Limited 2.625% NSR (Au, Sulfides) Paddington (Breakaway Dam/12 Mile) , W. Australia Zijin Mining Group Co., Ltd. A$1/ton (All Minerals) Paddington (Matt Dam) , W. Australia Zijin Mining Group Co., Ltd. A$0.60/tonne (Au) Polar Bear , W. Australia Karora Resources Inc. 2% NSR (All Minerals) Randwick Gold Hill , W. Australia E Bouverie, Trindal P/L, Lucas Gold P/L et al 1-1.5% GR (Au) Rebecca , W. Australia Ramelius Resources Limited 1.5% NSR (Au) Red October (Butcher Well) , W. Australia AngloGold Ashanti Limited/Northern Star Resources Limited 1% NSR; 50K oz production threshold (Au) Red October (Butcher Well Area) , W. Australia AngloGold Ashanti Limited/Northern Star Resources Limited 0.68-1% NSR (Au) South Kalgoorlie (St Ives) , W. Australia Gold Fields Limited 1-1.75% NSR (Au, Ag, Other Minerals) Talga Talga , W. Australia Novo Resources Corp. 1.5% NSR (Au) Western Tamani (Coyote) , W. Australia Northern Star Resources Limited A$5-15/oz on production between 300K-1M oz (Au) Yundamindera , W. Australia Nex Metals Explorations Ltd/Metalcity Limited-earning 51% 1% NSR (Au) Rest of World Maibulak deposit , Kazakhstan KAZ Minerals PLC $10.41/oz plus escalator (Au) Cooke 4 , South Africa Sibanye Gold Limited 7% Stream (Au) Aği Daği-Camyurt , Türkiye Alamos Gold Inc. 2% NSR (Au) Hasandagi , Türkiye Koza Altin 2% NSR (Au) Karadag , Türkiye Koza Altin 2.5% NSR (Au) Torul , Türkiye Koza Altin 1.5% NSR (Au) 1 Royalty terms have been simplified for presentation purposes. Different terms may apply to certain portions of properties or by commodity. Some royalties may have sliding scales tied to commodity price. Others may include participation in sale proceeds of property or gross sales Precious Metals Exploration Assets

86 TSX / NYSE: FNV Franco-Nevada Corporation Overview Overview Precious Metals

Mineral Resources and Mineral Reserves Additional Information Diversified Assets Diversified Assets Diversified Assets

88 TSX / NYSE: FNV Franco-Nevada Corporation Overview Precious Metals Diversified Assets Diversified Assets Index (Iron Ore, Other Mining and Energy) Iron Ore Vale (Iron Ore, Cu, Au and Other) 90 LIORC (Iron Ore) 92 Other Mining NuevaUnión (Relincho) (Cu, Au, Mo) 93 Taca Taca (Cu, Au, Mo) 94 Caserones (Cu, Mo) 95 Milpillas (Cu) 96 Falcondo (Ni) 96 Copper World Project (Cu, Mo, Ag, Au) 97 Robinson (Cu, Au) 98 EaglePicher (De) 98 Ring of Fire (Cr, Ni, Cu, PGM) 99 Mt Keith (Ni) 100 Flying Fox (Ni) 101 Diversified (Mining) Exploration Assets 102 U.S. Energy Marcellus 106 Haynesville 107 SCOOP/STACK 108 Permian Basin 109 Canadian Energy Weyburn Unit 110 Orion 111 Other Producing Energy Assets 112 Energy Exploration Assets 113 Diversified 88 TSX / NYSE: FNV Franco-Nevada Corporation Diversified Assets Diversified Assets

89 Franco-Nevada Corporation TSX / NYSE: FNV Mineral Resources and Mineral Reserves Additional Information Falcondo Midale Weyburn Edson SCOOP Midland Orion Delaware STACK Marcellus Taca Taca NuevaUnión (Relincho) Milpillas Haynesville Vale N. System Vale S.E. System Sossego Robinson Copper World Project Kivivic 2 Carol Lake EaglePicher Producing Advanced Mt Keith Flying Fox Australia Producing Advanced Producing (Energy) Millmerran King Vol Bowen Basin South Kalgoorlie (Mt Marion Lithium) Caserones Diversified Assets

90 TSX / NYSE: FNV Franco-Nevada Corporation Iron Ore Overview Precious Metals Diversified Assets Vale Location: Brazil, South America Operator: Vale S.A. Metals: Iron Ore, Cu, Au and Other Royalty: 0.264% Iron Ore, 0.367% Copper/Gold, 0.147% Other 1 Alemão Project (Cu/Au) Serra Norte (Fe) Serra Leste (Fe) Itabira Overview Southeastern System Minas Centrais Overview Southeastern System Mariana Overview Southeastern System Caué (Fe) Conceição (Fe) Brucutu (Fe) Fazendão (Fe) Capanema (Fe) S11D (Fe) Sossego (Cu/Au) Royalty Area Iron Asset Cu/Au Asset Northern System Southeastern System Southeastern System Northern System N In April 2021, Franco-Nevada acquired 57 million Participating Debentures (“Royalty Debentures”) for $538 million, providing holders with an effective net sales royalties on Vale S.A.’s (“Vale”) Northern and Southeastern Iron Ore Systems and on certain copper and gold operations in Brazil (together, the “Royalty”). The acquisition represents 14.7% of the total issued Royalty Debentures by Vale. The Royalty Debentures were issued in 1997 with the privatization of Vale to provide exposure to future resource growth from specified properties held at the time. Royalty payments are made by Vale on a semi- annual basis on March 31 st and September 30 th of each year reflecting production in the preceding half calendar year period. 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ 40.7 $ 59.4 $ – Vale (Northern and Southeastern System) M&I Resource (Mt Iron Ore) 2 17,150 – – Inferred Resource (Mt Iron Ore) 2 3,880 – – P&P Reserves (Mt Iron Ore) 2 8,865 10,773 – Sossego (Au) P&P Reserves (koz Au) 2 470 583 – Sossego (Cu) P&P Reserves (Mlbs Cu) 2 1,166 1,495 – M&I Royalty Ounces (000s) 3 1,380 1,141 – Inferred Royalty Ounces (000s) 3 84 – – P&P Royalty Ounces (000s) 3 1,006 1,141 – 1 See Franco-Nevada AIF for the year ended December 31, 2022 and Vale’s website for Royalty Debenture details including deed, semi-annual debenture reports, and annual mineral property inventory 2 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages and details for Sossego Mineral Resources. 3 For Royalty Ounce calculation, the Vale Royalty covers specified mining rights in the Northern and Southeastern Systems reflecting the specified properties held by Vale at privatization. At the Northern System, all of the Mineral Resources and Mineral Reserves are estimated to be covered by the Vale Royalty and at the Southeastern System, 60% of Mineral Reserves are estimated to be covered by the Vale Royalty and due to the limited recent disclosure by Vale S.A. on Mineral Resources for the Southeastern System only Mineral Resources covering Itabira are included in the calculation. Historically, approximately 70% of Southeastern System production has been attributable to the Vale Royalty and is expected to remain at that level over the medium-term. The Mineral Reserves of the Southeastern System include non-approved projects that are not covered by the Vale Royalty (e.g., the Apolo project). In addition, Franco-Nevada accounts for moisture, mass recovery, and allowable deductions under the Vale Royalty, as described more fully on Vale’s website. For the Royalty Ounce calculation associated with the Mineral Reserves of the Sossego mine, Franco- Nevada accounts for allowable deductions and mineral recovery and Mineral Resources have been excluded based on limited disclosure by Vale S.A. and inclusion of projects not covered by the Vale Royalty in the Mineral Resources. Refer to Vale’s 2021 20-F annual report for additional information Vale, Brazil

91 Franco-Nevada Corporation TSX / NYSE: FNV Iron Ore Mineral Resources and Mineral Reserves Additional Information Northern System The Royalty terms, on a 100% basis, provide for a 1.8% (0.264% attributable) net sales royalty on iron ore sales from the Northern System mines. The Northern System located in Carajas, Para state, Brazil is a fully integrated operation inclusive of mines, railroad, maritime facilities and a port. The Northern System includes the Serra Sul (i.e. S11A-D), Serra Norte and Serra Leste mines and represents one of the largest mining complexes globally with long-life reserves and excellent potential for mine life extensions. The Northern System has been in operation since 1984 with the most recent development of the Serra Sul (S11D) mine in 2016. The current reserve life at the complex supports multi-decades of mining. The Northern System produced 172 Mt of premium high-grade iron ore in 2022. Production is expected by Vale to be c.180 Mt in 2023 and to gradually increase to +220 Mt long term through the approved expansion of Serra Sul and other growth projects. Southeastern System The Royalty terms, on a 100% basis, provide for a 1.8% (0.264% attributable) net sales royalty on iron ore sales from the portion of production covered by the Royalty in the Southeastern System. The Southeastern System located in the Iron Quadrangle of Minas Gerais, Brazil is a key global producer of pellet feed and is a fully integrated complex with rail, maritime facilities and a port. Contributions to the Royalty will start once a cumulative sales threshold of 1.7 Bt of iron ore has been reached, expected by Vale in 2025, adding approximately 25% to 30% volume attributable to the Royalty. The Royalty provides partial coverage of the three Southeastern System mining complexes. The primary complexes within the Royalty area are: Itabira, Minas Centrais (Brucutu mine), Mariana (Fazendao and, to a lesser extent, Capanema mines). We estimate attributable production of c.60 Mtpa from these complexes over the medium to long term (or approximately 70% of system capacity). Vale now expects a more moderate ramp up of production from the Southeastern System over the long term. Sossego The Royalty also provides for a 2.5% (0.367% attributable) net sales royalty on certain copper and gold assets. The Royalty applies on a 50% basis (i.e. 1.25% of net sales, 0.183% attributable) to Sossego, reflecting Vale’s ownership at the time of issuance. Sossego is located in Carajas, Para state, Brazil and is an open pit operation with nominal capacity of approximately 93 kt per year of copper in concentrate. Sossego produced 43.2 kt of copper in 2022, impacted by extended mill maintenance in H1 2022. The Royalty further covers certain adjacent satellite deposits to Sossego which are being studied by Vale as replacement/life extensions for the operation. Other Additionally, the Royalty provides for a 1% (0.147% attributable) net sales royalty on all other minerals (specified mining rights include prospective deposits for other minerals including zinc, manganese, amongst others), subject to certain thresholds. A 1% rate (0.147% attributable) applies to net proceeds in the event of an underlying asset sale. In total, the Royalty covers approximately 15,000 km 2 of prospective geology. World class iron ore mines producing high quality iron ore for low emission steel Strong potential for growth and multi-decade mine lives Fully integrated production provides cost advantage Large land package of approximately 15,000 km 2 Vale, Brazil

92 TSX / NYSE: FNV Franco-Nevada Corporation Iron Ore Overview Precious Metals Diversified Assets LIORC Location: Newfoundland and Labrador, Canada Operator: Rio Tinto plc Metals: Iron Ore Royalty: GORR 0.7% Iron Ore, IOC Equity 1.5% IOC produces high grade +65% Fe iron ore concentrate for sale and pellets with a reserve-only 24-year mine life and a large mineral resource supporting further extensions. IOC has nominal capacity of 23.3 Mtpa (combined concentrate and pellets) with 2022 attributable sales of 17.6 Mt and Rio Tinto has provided 2023 guidance of saleable production between 17.9 Mt and 19.6 Mt. In 2022, total capital expenditures at IOC were C$460 million, below the forecast of C$606 million due to deferral of certain projects. In 2023, capital expenditures at IOC are forecast by IOC to be C$534 million, including C$134 million of growth and development projects. IOC benefits from integrated infrastructure, including the mine, concentrator/pellet facilities, railway, and a port at Sept-Îles, Quebec. IOC has a long history as a supplier of high quality, low impurity, premium iron ore and pellets which has typically received premium prices from the European steel making industry. Producer of high-quality pellets and fines 24-year reserve life with large resource base to support extensions Fully integrated from mine to port, operated by Rio Tinto +50-year track record 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ 14.8 $ 30.2 $ 14.7 M&I Resource (Mt Iron Ore) 1,931 1,930 – Inferred Resource (Mt Iron Ore) 811 895 – P&P Reserves (Mt Iron Ore) 1,077 1,144 – M&I Royalty Ounces (000s) 1, 2 332 349 – Inferred Royalty Ounces (000s) 2 139 162 – P&P Royalty Ounces (000s) 2 185 207 – 1 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 For Royalty Ounce calculation, calculation based on overriding royalty interest only and takes into account moisture, mass recovery, and allowable deductions. Refer to LIORC’s annual report for additional information Franco-Nevada holds 6.3 million common shares (a 9.9% equity investment) in Labrador Iron Ore Royalty Corporation (“LIORC”). The position was acquired over a number of years for a total investment of C$93 million, representing an average cost of C$14.72/share. The investment in LIORC functions similar to a royalty given the flow through of revenue generated from LIORC’s underlying 7% gross overriding royalty interest (0.7% attributable), C$0.10 per tonne commission (C$0.01 per tonne attributable), and 15.1% equity interest (1.5% attributable) in Iron Ore Company of Canada’s (“IOC”) Carol Lake mine, operated by Rio Tinto plc (“Rio Tinto”). LIORC normally pays cash dividends from net income derived from IOC to the maximum extent possible, while maintaining appropriate levels of working capital. Over the past two years (2021 and 2022), cash flow from operations at LIORC has averaged approximately 47% from IOC dividends from the 15.1% equity interest and 53% from the royalty and commission. LIORC, Newfoundland and Labrador

93 Franco-Nevada Corporation TSX / NYSE: FNV Other Mining Mineral Resources and Mineral Reserves Additional Information NuevaUnión (Relincho) Location: Chile, South America Operator: Teck Resources Limited / Newmont Corporation Metals: Cu, Au, Mo Royalty: NSR: 1.5% N NuevaUnión (Relincho) Royalty Area 1.5% NSR km 0 10 Mining and Royalty Area Pit Royalty Area Proposed Pit Proposed Mill N Arica Iquique Antofagasta La Serena Santiago Copiapo Relincho Chile Argentina Bolivia Peru Candelaria Marte-Lobo El Morro Pascua-Lama Cerro Casali Andacollo Regalito NuevaUnión is one of the largest undeveloped copper-gold-molybdenum projects in the Americas. A prefeasibility study was completed in 2018 which incorporated key design changes to improve project economics and respond to local community and ESG input. The prefeasibility study outlined an increased mine life from 32 to 36 years, with a three-phase development approach assuming life of mine average production of 251,000 tonnes of copper equivalent production based on $10 per pound molybdenum and $1,300 per ounce gold. Phase 1 (Years 1 – 3) would see mining and a processing facility at the Relincho site assuming processing of 104,000 tonnes per day (“tpd”). In Phase 2 (Years 4 – 18), mining activities would transfer to the La Fortuna site utilizing an ore conveyance system to transport ore to the processing facilities at Relincho (116,000 tpd in Phase 2). Phase 3 (Years 19 – 36) would see mining activities transfer back to Relincho with an expansion to the processing facilities increasing processing to 208,000 tpd. A feasibility study was also completed in 2020, with further optimization work conducted. An updated preliminary economic assessment disclosed by Teck contemplates a conveyor to transport ore from the El Morro site to a single line mill and concentrator facility at the Relincho site. The phased development approach contemplated in the study allows for future expansions to be funded from project cash flow, reducing any initial funding requirement. Work in 2023 will be focused on establishing a cost- effective path forward for the development of the project. One of the largest undeveloped Cu-Au-Mo projects in the Americas Joint venture combines Relincho and La Fortuna to one project Project synergies estimated to significantly reduce capital expenditure 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ – $ – $ – M&I Resource (Mlbs Cu) 1 16,068 16,068 16,068 Inferred Resource (Mlbs Cu) 1 5,752 5,752 5,752 P&P Reserves (Mlbs Cu) 1 12,078 12,078 12,078 M&I Royalty Ounces (000s) 1, 2 399 349 359 Inferred Royalty Ounces (000s) 2 163 143 147 P&P Royalty Ounces (000s) 2 286 250 258 1 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 For Royalty Ounce calculation, Franco-Nevada estimates 100% of the Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates a rate of 1.275% (which factors a NSR smelting charge of 15%) and excludes the first four years of production from estimates. Copper has been converted to Royalty Ounces assuming $4.00 per pound ($3.50 per pound in 2021, $3.50 per pound in 2020) Franco-Nevada has a 1.5% NSR royalty covering the Relincho property that is part of the NuevaUnión project being advanced by 50/50 joint venture partners, Teck Resources Limited (“Teck”) and Newmont Corporation (“Newmont”). The NuevaUnión project was formed in 2015 combining Teck’s Relincho project with Newmont’s La Fortuna (formerly El Morro) deposit, located approximately 40 km apart in the Atacama region of Chile. Franco- Nevada’s 1.5% NSR is subject to a maximum price of $6.00/lb copper and threshold price of $1.50/lb copper, inflation adjusted. No royalty is paid if the average price for the quarter is less than the threshold price and royalty payments commence four years after commercial production. Franco-Nevada acquired the royalty through its acquisition of Lumina Royalty Corp. in December 2011. NuevaUnión (Relincho), Chile

94 TSX / NYSE: FNV Franco-Nevada Corporation Other Mining Overview Precious Metals Diversified Assets Taca Taca Location: Argentina, South America Operator: First Quantum Minerals Ltd. Metals: Cu, Au, Mo Royalty: NSR: 1.08% Taca Taca Royalty Area 1.08% NSR N Arica Iquique Antofagasta La Serena Santiago Copiapo NuevaUnión (Relincho) Chile Argentina Bolivia Peru Vizcachitas San Jorge Taca Taca km 0 5 Pit Royalty Area First Quantum 2020 Technical Report Ultimate Pit Design First Quantum is continuing with the project pre-development and feasibility activities. The primary Environmental and Social Impact Assessment (“ESIA”) for the project, which covers the principal proposed project sites, was submitted in 2019 and supplementary submissions on tailings and waste management were filed in 2022. Approval of the ESIA is anticipated in 2023 and, in November 2022, the environmental pre-feasibility for power line development was approved. Additional environmental permit approval for a bypass and access road construction is expected in 2023 and water permit applications will be filed progressively in 2023. A decision to advance the project is not expected before 2024. Large porphyry deposit with reserve of over 7.7 million tonnes of contained copper and 5.1 million ounces of gold Potentially First Quantum’s next development project Feasibility activities, pre-development and permitting work underway 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ – $ – $ – M&I Resource (Mlbs Cu) 1 20,835 20,835 20,835 Inferred Resource (Mlbs Cu) 1 4,863 4,863 4,863 P&P Reserves (Mlbs Cu) 1 17,052 17,052 17,052 M&I Royalty Ounces (000s) 1, 2 490 437 448 Inferred Royalty Ounces (000s) 2 112 100 102 P&P Royalty Ounces (000s) 2 403 359 368 1 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 For Royalty Ounce calculation, Franco-Nevada estimates 100% of the Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates a rate of 0.918% is applicable for the copper Royalty Ounces (which factors in a NSR smelting charge of 15%). Copper has been converted to Royalty Ounces assuming $4.00 per pound ($3.50 per pound in 2021, $3.50 per pound in 2020) Franco-Nevada has a 1.08% NSR royalty on all copper, gold and molybdenum produced from Taca Taca which was acquired through the acquisition of Lumina Royalty Corp. in December 2011. The property hosts a very large copper-gold-molybdenum porphyry system and is located in the Puna region of northwestern Argentina in Salta Province, 230 km west of the provincial capital of Salta. The royalty is subject to a buy-back provision. In November 2020, First Quantum filed an updated NI 43-101 technical report and declared a maiden Mineral Reserve of over 7.7 million tonnes of contained copper. First Quantum’s technical report considers an open-pit mine plan which contemplates processing throughput of up to 60 million tonnes per annum through a conventional flotation circuit with an initial mine life of approximately 32 years. The Measured and Indicated Mineral Resource is 2,203 million tonnes, grading 0.43% copper, and contains 9,451,000 tonnes of contained copper, 265,000 tonnes of molybdenum and 6,052,000 ounces of gold. The Proven and Probable Mineral Reserve has been estimated at 1,759 million tonnes, grading 0.44% copper, for 7,735,000 tonnes of contained copper, 214,000 tonnes of molybdenum and 5,087,000 ounces of gold. Taca Taca, Argentina

95 Franco-Nevada Corporation TSX / NYSE: FNV Other Mining Mineral Resources and Mineral Reserves Additional Information Caserones, Chile Caserones Location: Chile, South America Operator: JX Nippon Mining & Metals Corporation Metals: Cu, Mo Royalty: NSR: 0.484% 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ 3.0 $ – $ – M&I Resource (Mlbs Cu) 1 10,197 – – Inferred Resource (Mlbs Cu) 1 0.0 – – P&P Reserves (Mlbs Cu) 1 6,489 – – M&I Royalty Ounces (000s) 1, 2 93 – – Inferred Royalty Ounces (000s) 2 – – – P&P Royalty Ounces (000s) 2 59 – – 1 Please refer to the Caserones Historical Estimate, as of April 2021, in Lundin Mining Corporation’s March 28, 2023 Caserones presentation for a breakout of grade and tonnages by historical reserve and resource category; all M&I categories are inclusive of Mineral Reserves 2 For Royalty Ounce calculation, Franco-Nevada estimates 100% of the historical Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates a rate of 0.4113% is applicable for the copper Royalty Ounces (which factors in a NSR smelting charge of 15%). Copper has been converted to Royalty Ounces assuming $4.00 per pound Franco-Nevada holds an effective 0.484% NSR on the producing Caserones copper-molybdenum mine located in the Atacama Region of northern Chile. The initial 0.458% NSR was acquired for $37.4 million in April 2022. On March 8, 2023, we closed a small transaction to acquire an incremental 0.026% NSR for US$2 million. Caserones is an open pit mine which began operation in 2013, following a capital investment of approximately US$4.2 billion. On March 27, 2023, Lundin Mining announced that it had entered into a binding purchase agreement to acquire 51% of the outstanding equity of SCM Minera Lumina Copper Chile (“Lumina Copper”), a wholly owned subsidiary of JX Nippon Mining & Metals Corporation of Japan, which operates the mine. The mine is located approximately 160 km southeast of Copiapó, 9 km from the border with Argentina and has a maximum elevation of approximately 4,600 meters above sea level. The porphyry copper- molybdenum deposit is located within a large land package, of which the royalty covers ~170km 2 . The asset produces copper and molybdenum concentrates from a conventional crusher, mill and flotation plant, as well as copper cathode from a dump leach, solvent extraction and electrowinning plant (“SX - EW”). The processing plant has a nominal capacity of 105 k tonnes per day, and the SX-EW plant and leaching facilities for processing oxide and low-grade sulphide ore have a production capacity of 34.5 k tonnes of cathode per year. In 2022, the concentrator plant produced 109.1 k tonnes of copper in concentrate. In addition, 15.1 k tonnes of copper cathodes and 3.1 k tonnes of molybdenum in concentrate was produced. In 2022, Franco-Nevada received royalty payments of $3.0 million, representing a full year of distributions (based on the 0.458% NSR). Producing mine in a well developed mining jurisdiction Long life copper asset Large land package with future exploration potential Chile Caserones Mine Argentina Caserones Royalty 0.484% NSR N km 0 5 10 Exploration 2 /Exploitation 1 Concession Exploitation 1 Concession Caserones Royalty AOI N Iquique Antofagasta Santiago Copiapo Relincho Chile Argentina Bolivia Candelaria Marte-Lobo Jose Maria Los Helados Cerro Casali Andacollo Regalito Caserones 1 Grants the title holder the right to perform mining operations and to extract ore 2 Grants the title holder the right to explore exclusively a determined area for a specified amount of time

96 TSX / NYSE: FNV Franco-Nevada Corporation Other Mining Overview Precious Metals Diversified Assets Milpillas Location: Mexico, Central America and Mexico Operator: Industrias Peñoles, S.A.B. de C.V. Metals: Cu Royalty: Production Payment Franco-Nevada has a production payment royalty on the Milpillas copper mine in Sonora, Mexico operated by Industrias Peñoles, S.A.B. de C.V. (“Peñoles”). The royalty is $0.04/lb of copper produced, if the price of copper is above $1.20/lb. The royalty ground covers an estimated 30 km 2 . The project is an underground copper mine and heap leach operation and was acquired by Franco-Nevada in September 2020 as part of a portfolio of 24 royalties from Freeport-McMoRan Inc. Production resumed in mid-2022 after active mining was paused due to low copper prices in Q2 2020. Franco-Nevada has not included Milpillas in Royalty Ounce estimates Falcondo Location: Dominican Republic, Central America and Mexico Operator: Americano Nickel Limited Metals: Ni Royalty: 4.1% Dividend Franco-Nevada has a 4.1% equity interest in Falconbridge Dominicana, C. por A. (“Falcondo”) that is economically similar to a profit royalty except that payments are received through discretionary dividend distributions. Falcondo is a ferronickel surface mining operation with production capacity of 29,000 tonnes of contained nickel per annum located in the Dominican Republic with operations dating back to 1971. Falcondo is typically a swing producer and was put on care and maintenance when nickel prices fell in October 2013. In 2015, Glencore sold its 85.26% ownership in the operation to Americano Nickel Limited, a private equity company which has subsequently restarted the mine. Franco-Nevada has not received any dividends in recent years. For Royalty Ounce calculation, Franco-Nevada estimates 100% of the Mineral Resources and Mineral Reserves are subject to our equity interest and estimates a margin of 20% is applicable. Nickel has been converted to Royalty Ounces assuming $11.00 per pound ($9.00 per pound in 2021, $7.00 per pound in 2020)

97 Franco-Nevada Corporation TSX / NYSE: FNV Other Mining Mineral Resources and Mineral Reserves Additional Information Copper World Project Location: Arizona, United States Operator: Hudbay Minerals Inc. Metals: Cu, Mo, Ag, Au Royalty: NSR: 2.085% 83 Peach North Limb Elgin South Limb Broad Top Butte Bolsa Copper World East Deposit 2017 Reserve Pit Copper World Project N km 0 1 2.085% NSR 2 Mineral Resources Unpatented Royalty Licences Patented Royalty Licences In November 2021, Franco-Nevada acquired an incremental 0.585% NSR royalty interest on the Copper World Project from certain private sellers. The royalty has identical terms as an existing 1.5% NSR royalty that Franco-Nevada held and covers the same land package, including most of the Copper World deposits. Hudbay received the Final Record of Decision (“FROD”) for what was then referred to as the Rosemont project in June 2017 and, in March 2019, received the Section 404 Water Permit from the U.S. Army Corps of Engineers (“ACOE”). In July 2019, the U.S. District Court for Arizona issued a ruling that vacated the FROD issued by the U.S. Forest Service. Hudbay appealed the ruling to the U.S. Court of Appeals for the Ninth Circuit. In May 2022, the U.S. Court of Appeals for the Ninth Circuit affirmed the U.S. District Court of Arizona’s decision in July 2019. As Hudbay evaluates next steps for the East deposit, the company continues to advance the Copper World deposits (including Bolsa, Broad Top Butte, Copper World, Peach, Elgin, South Limb and North Limb) which are largely on private land covered by Franco-Nevada’s royalty. In June 2022, Hudbay released a Preliminary Economic Assessment (PEA) for the Copper World Complex. The PEA announced an initial mineral resource estimate of 973 million flotation ore tonnes at 0.42% copper and 200 million leach ore tonnes at 0.36% copper. The PEA also announced Inferred Mineral Resources of 210 million flotation tonnes at 0.36% copper and 52 million leach tonnes at 0.40% copper. The resources are comprised of both oxide and sulphide mineralogy and are potentially amenable to heap leach and flotation processing, respectively. The PEA reflects a two-phase mine plan with the first phase reflecting a standalone operation with processing infrastructure on Hudbay’s private land and mining occurring on portions of the deposits located on patented mining claims. The first phase of the mine plan is expected to require only state and local permits and anticipates producing an average of approximately 86,000 tonnes of copper per year for 16 years. The second phase expands mining activities onto federal land and extends the mine life to 44 years. Hudbay plans to release a prefeasibility study for Phase 1 of Copper World by mid-2023 of 2023 and also expects to receive the remaining state permits in 2023. Hudbay intends to initiate a minority joint venture partner process following receipt of the permits, which will allow the potential joint venture partner to participate in and help fund the definitive feasibility study activities in 2024. Franco-Nevada’s royalty covers all metals, including copper, molybdenum, silver and gold Exploration and development studies focused on Copper World targets on private land 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ – $ – $ – M&I Resource (Mlbs Cu) 1, 3 10,597 10,915 8,757 Inferred Resource (Mlbs Cu) 1, 3 2,125 1,539 412 P&P Reserves (Mlbs Cu) 1, 3 – 5,328 5,328 M&I Royalty Ounces (000s) 1, 2, 3 412 372 223 Inferred Royalty Ounces (000s) 2, 3 83 52 11 P&P Royalty Ounces (000s) 2, 3 – 181 136 1 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 For Royalty Ounce calculation, Franco-Nevada estimates 99% (99% in 2021, 100% in 2020) of the Mineral Resources and Mineral Reserves are subject to our royalty interest and estimate a rate of 1.772% (1.772% in 2021, 1.275% in 2020) (which factors a NSR smelting charge of 15%). Copper has been converted to Royalty Ounces assuming $4.00 per pound ($3.50 in 2021, $3.50 in 2020) 3 Does not include silver or molybdenum Mineral Resource and Mineral Reserve estimates Franco-Nevada has a 2.085% NSR royalty covering all metals, including copper, molybdenum, silver and gold extracted from the majority of claims covering the Copper World and East (formerly known as Rosemont) deposits in Pima County, approximately 30 miles southeast of Tucson, Arizona. Hudbay Minerals Inc. (“Hudbay”) is the operator of the asset following its acquisition of Augusta Resource Corporation in 2014. The Copper World project includes seven new deposits discovered in 2021 (then referred to as the “Copper World deposits”), together with the East deposit (formerly known as the Rosemont deposit). The property is situated near a number of large porphyry style producing copper mines. Copper World Project, Arizona Copper World Project Pacific Ocean Oregon Idaho Utah Nevada California Arizona MEXICO

98 TSX / NYSE: FNV Franco-Nevada Corporation Other Mining Overview Precious Metals Diversified Assets Robinson Location: Nevada, United States Operator: KGHM International Ltd. Metals: Cu, Au Royalty: NSR: 0.225% / other The Robinson open-pit mining complex, operated by KGHM, produces copper, gold and molybdenum and is located near Ely, Nevada. Franco-Nevada has three royalties covering the Robinson mine: 1) a 0.225% NSR on all base metal and associated precious metal production; 2) a 10% NSR on 51% of the gold production from the property in excess of 60,000 ounces of gold per year; and 3) under a copper agreement, a price participation royalty on 51% of 40% of each pound of copper production from the property in excess of 130 million pounds of copper produced per annum, multiplied by the spot price, less $1.00 per pound adjusted for inflation (based on 1990 dollars). Amounts are only payable in any year in which the average price of copper during that year exceeds a $1 per pound threshold, as adjusted for inflation (based on 1990 dollars). Copper production for 2022 was approximately 103 million pounds, down 1% from the same period in 2021, while gold production for 2022 was 37,900 ounces, up 13% from the same period in 2021. Franco-Nevada will likely only be paid on the base 0.225% NSR royalty for 2023 as production is expected to be below the royalty threshold level. Robinson received a positive Record of Decision from the Bureau of Land Management in September 2021 for a plan of operations amendment which is estimated to extend the mine life at current production rates until 2028. For Royalty Ounce calculation, Franco-Nevada estimates 100% of the gold and copper Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates an average rate of 0.225% is applicable for gold and 0.1913% for copper (which factors a NSR smelting charge of 15%). Copper has been converted to Royalty Ounces assuming $4.00 per pound ($3.50 per pound in 2021, $3.50 per pound in 2020) EaglePicher Location: Nevada, United States Operator: EP Minerals, LLC Metals: De Royalty: Production Payment EaglePicher is a diatomaceous earth operation in Pershing County, Nevada, located about 23 miles northwest of Lovelock. The royalty is based on a fixed payment per ton which fluctuates based on the average sales price from the prior year’s sales. The royalty covers approximately 15 km 2 of checkerboard lands. The intervening lands are public and EaglePicher holds unpatented placer claims on those lands as needed for mining. The mine has been in continuous operation since the 1950s with approximately 65% of production coming from Franco- Nevada land. The revenue received from EaglePicher in 2021 and 2022 was $393,000 and $319,000, respectively. Franco-Nevada has not included EaglePicher in Royalty Ounce estimates

99 Franco-Nevada Corporation TSX / NYSE: FNV Other Mining Mineral Resources and Mineral Reserves Additional Information Ring of Fire Location: Ontario, Canada Operator: Wyloo Metals Pty Ltd Metals: Cr, Ni, Cu, PGM Royalty: NSR/GR: 1-3% Thunderbird Blue Jay Black Label Black Thor Eagle’s Nest Blackbird Eagle 2 Triple J Ring of Fire N km 0 10 20 Eagle’s Nest – 1% GR Royalty licences – 2% GR (Cr), 2% NSR (other) Wyloo licences Royalty licences – 2-3% GR (Cr), 2-3% NSR (other) In April 2015, Franco-Nevada acquired royalty rights in the Ring of Fire mining district of Ontario and provided a loan to Noront Resources Ltd. (“Noront”). The funding package enabled Noront to acquire the mining claims held by subsidiaries of Cliffs Natural Resources Inc. (“Cliffs”) in the Ring of Fire mining district, located 500 km northeast of Thunder Bay. The royalty rights provide Franco-Nevada with a long-term interest in a potential new mining camp with exposure to one of the largest chromite resources globally, in addition to a nickel, copper and PGM deposits. The total royalty concession is estimated to cover over 1,000 km 2 . As part of the April 2015 funding package, Franco-Nevada provided Noront with a $25 million loan for a period of five years at a 7% interest rate. Franco-Nevada paid an additional $3.5 million in cash as part of the granting of royalties over the existing Noront property. Franco-Nevada received a 3% royalty over the Black Thor chromite deposit, a 2% royalty over all of Noront’s property in the region (excluding the Eagle’s Nest deposit, see below), 2% on certain other properties previously being advanced by Cliffs, and a number of other third-party exploration royalties. In May 2022, following the acquisition of Noront by Wyloo Metals Pty Ltd (“Wyloo Metals”), Franco-Nevada received full repayment of the loan and in October 2022, Wyloo Metals announced Ring of Fire Metals as the new name for its Canada-based business. In December 2019, Franco-Nevada acquired a 1% gross royalty on Noront’s Eagle’s Nest nickel, copper and PGM deposit, for $3.8 million. Eagle’s Nest currently has over 20 million tonnes of Measured, Indicated and Inferred Mineral Resources containing high-grade nickel mineralization with significant copper, palladium and platinum content. In December 2022, Ring of Fire Metals announced it had signed a Memorandum of Understanding with Webequie First Nation, detailing how the two parties will work together to progress ongoing exploration activities as well as negotiations on a partnership agreement for the proposed Eagle’s Nest mine. Royalty concession estimated to cover over 1,000 km 2 Ring of Fire Metals as new operator 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ – $ – $ – Ring of Fire (Cr) M&I Resource (Tonnes millions) 1 193 193 193 Inferred Resource (Tonnes millions) 1 55 55 55 P&P Reserves (Tonnes millions) 1 – – – Eagle’s Nest (PGM) M&I Resource (koz PGM) 1 1,627 1,627 1,627 Inferred Resource (koz PGM) 1 1,459 1,459 1,459 P&P Reserves (koz PGM) 1 1,489 1,489 1,489 Eagle’s Nest (Ni) M&I Resource (Mlbs Ni) 1 432 432 432 Inferred Resource (Mlbs Ni) 1 228 228 228 P&P Reserves (Mlbs Ni) 1 413 413 413 M&I Royalty Ounces (000s) 1, 2 225 227 233 Inferred Royalty Ounces (000s) 2 74 77 78 P&P Royalty Ounces (000s) 2 20 23 22 1 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 For the Ring of Fire Royalty Ounce calculation, Franco-Nevada estimates 100% of the Mineral Resources are subject to our royalty interest and estimates a dollar per tonne value of $1.90/tonne. For the Eagle’s Nest Royalty Ounce calculation, Franco-Nevada estimates 100% of the PGM and nickel Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates an average rate of 1.0% is applicable for PGM and 0.7% for nickel (which factors a NSR smelting charge of 30%). PGM ounces are converted into Royalty Ounces assuming $900/ounce Pt and $1,500/ounce Pd and nickel has been converted to Royalty Ounces assuming $11.00 per pound. Copper Mineral Resources and Mineral Reserves are not included in the Royalty Ounce calculation

100 TSX / NYSE: FNV Franco-Nevada Corporation Other Mining Overview Precious Metals Diversified Assets Mt Keith Location: Australia Operator: BHP Billiton Limited Metals: Ni Royalty: NPI: 0.25% / GR: 0.375% Albion Downs Jericho Cliffs Yakabindie Kingston Royalty Area 122.5 km 2 Perth Wiluna Port Hedland Kalgoorlie Mt Keith Royalty Area 114 km 2 Mt Keith Total: 236.5 km 2 Mt Keith Kingston Royalty Area N km 0 5 10 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ 0.8 $ 2.3 $ 1.2 M&I Resource (Mlbs Ni) 1 2,390 2,390 2,442 Inferred Resource (Mlbs Ni) 1 275 275 275 P&P Reserves (Mlbs Ni) 1 1,087 1,087 1,135 M&I Royalty Ounces (000s) 1, 2 51 42 34 Inferred Royalty Ounces (000s) 2 6 5 4 P&P Royalty Ounces (000s) 2 23 19 16 1 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 For Royalty Ounce calculation, Franco-Nevada estimates 100% of the Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates a rate of 0.50% is applicable. Franco- Nevada has also applied a NSR smelting charge of 30%. Nickel has been converted to Royalty Ounces assuming $11.00 per pound ($9.00 per pound in 2021, $7.00 per pound in 2020) Franco-Nevada has a 0.375% gross royalty and a 0.25% NPI royalty on lands including the Mt Keith nickel operation in Western Australia, located 460 km north of Kalgoorlie. BHP Billiton Limited (“BHP Billiton”) is the operator and the project is a large, low-grade disseminated nickel sulphide ore body with an open-pit mine. Franco-Nevada’s royalties cover 236 km 2 and includes the Jericho Nickel Deposit located approximately 25 km northwest of Mt Keith, and part of the Yakabindie Deposits located approximately 25 km south of Mt Keith. Mining commenced in 1993 with the first nickel concentrate produced in 1994. In June 2022, BHP Billiton reported that Mt Keith had an estimated mine life of 15 years. Mt Keith concentrator ore throughput is approximately 10.5 Mtpa with 63% recoveries. Production capacity is 35,000-40,000 tonnes per annum of nickel in concentrate. Mt Keith is part of Nickel West, BHP Billiton’s integrated business unit for Australian nickel assets, along with four other mines, a concentrator, a smelter and a refinery. BHP Billiton reported that Nickel West total production for the fiscal year ending June 2022 was 77,000 tonnes of nickel. During 2019, BHP Billiton developed the Goliath and Six Mile Well Nickel Deposits at Yakabindie as satellite operations. Mt Keith, Australia Franco-Nevada’s royalty does not cover Goliath or the southern half of Six Mile Well. It is estimated that royalty area production accounted for 20% of Nickel West total production in the fiscal year ending June 2022. Yakabindie satellite deposits are expected to provide the majority of ore to the Mt Keith concentrator going forward. BHP is progressing expansion plans to increase Mt Keith mill capacity to 13.5 Mtpa and increase nickel concentrate production to 50,000 tpa, with contracts awarded March 2023. 15-year mine life at Mt Keith Yakabindie satellite deposits developed in 2019 – largely outside royalty area Progressing Mt Keith concentrator expansion to 50,000 tonnes per annum Exploration upside on large land package

101 Franco-Nevada Corporation TSX / NYSE: FNV Other Mining Mineral Resources and Mineral Reserves Additional Information Flying Fox Location: Australia Operator: IGO Limited Metals: Ni Royalty: GR: 2% Franco-Nevada has a 2% gross royalty on the southern portion of the Flying Fox nickel mine located in the Forrestania Greenstone belt in Western Australia. Flying Fox is a high-grade underground nickel mine which has been in production since 2007. In June 2022, IGO Limited (“IGO”) became the operator of Flying Fox after completing the A$1.1 billion takeover of Western Areas Ltd. IGO’s Forrestania Nickel Project includes the Flying Fox and Spotted Quoll mines and the Cosmic Boy Concentrator. During the six months ended December 2022, IGO reported 6,139 tonnes of nickel production at Forrestania. Approximately 11% of total Forrestania production was subject to Franco-Nevada’s royalty, and Franco-Nevada received $0.5 million of royalty revenue from Flying Fox for the year. Franco-Nevada has not included Flying Fox in Royalty Ounce estimates

102 TSX / NYSE: FNV Franco-Nevada Corporation Overview Precious Metals Diversified Assets Diversified (Mining) Exploration Assets The following table is a list of the diversified (mining) exploration assets of Franco-Nevada as at April 12, 2023. A list of the precious metals exploration assets can be found on pages 83-85. Assets that have had their terms or leases expire and have been written off are not listed. Diversified – Iron Ore and Other Mining Exploration Assets as at April 12, 2023 Asset Operator Interest and % 1 South America Para South Iron Project , Brazil Mineração Tarauaca Industria e Comercio S.A. 0.5-1% NSR (All Metals) Trairao Iron Project , Brazil Mineração Tarauaca Industria e Comercio S.A. $0.2995/tonne (Fe) Various-Vale , Brazil Vale S.A. Various (Fe) Bronce West , Chile Masglas America Corporation SpA 1-2% NSR (All Minerals) Calvario , Chile Austral Gold Limited (Minera Mena Chile Limitada) 1-2% NSR (All Minerals) Mirador , Chile Austral Gold Limited (Minera Mena Chile Limitada) 1-2% NSR (All Minerals) Morros Blancos , Chile Pampa Metals Corp. 1-2% NSR (All Minerals) Reina Hija, Chile Sumitomo Metal Mining Chile Ltda 1-2% NSR (All Minerals) San Valentino , Chile Atacama Copper Exploration Limited 1-2% NSR (All Minerals) Vizcachitas , Chile Los Andes Copper Limited 0.51-2% NSR (All Minerals) United States Chilito-Cyprus Christmas , Arizona Grupo Mexico (Asarco LLC) $0.02/lb (Cu); beyond 650M lbs production Copper Creek Redhawk , Arizona CopperBank Resources (Copper Creek Project LLC) 1% NSR plus other (All Minerals) Zeolites , Arizona Imagin Minerals et al $1.50/ton plus escalator (Clay) EaglePicher Diatomite II , Nevada EP Minerals, LLC $0.25/short ton plus other (Diatomite) Boling Dome , Texas Total E&P USA, Inc./H & L New Gulf, Inc. $0.0028225 per long ton (Sulfur) Hobson Pearson , Texas Uranium Energy Corp. 20% OR (Uranium) Shirley Basin (Davy Crockett) , Wyoming Ur-Energy Inc. (Pathfinder Mines Corporation) 4% GR (Uranium) Canada Carruthers , British Columbia Cariboo Rose Resources Ltd. 2.5% NSR (All Minerals) (buy-back option on 1.5%) Trout Lake (MAX Moly Mine) , British Columbia Cameo Industries Corp. 2.5% NSR (All Minerals) Golden Ridge , New Brunswick Darryl Leblanc 2% NSR (All Minerals) Buchans , Newfoundland and Labrador Buchans Resources Limited (Buchans Minerals Corporation) 2% NSR (All Minerals) (buy-back option on 1%) LabMag (Taconite) , Newfoundland and Labrador Abaxx Technologies 1.666% GR (Iron Ore-Taconite) Mary March , Newfoundland and Labrador Canstar Resources Inc. 1% NSR plus other (All Minerals) Mazenod , Northwest Territories BFR Copper & Gold Inc. 2% NSR (All Minerals) (buy-back option on 1%) Redstone (Coates Lake) , Northwest Territories Copper North Mining Corp. (Redbed Resources Corp.) 3-4% NSR (Cu, Ag) Bull Lake , Ontario Wyloo Metals Pty Ltd (Ring of Fire Metals ) 2% NSR (All Minerals) Butler and Sanderson (Diagnos) , Ontario Wyloo Metals Pty Ltd (Ring of Fire Metals)/MacDonald Mines Exploration Ltd. ROFR on Diagnos Royalty (Diamonds/Base Metals) Cline Lake , Ontario Alamos Gold Inc. 0.75% NSR (All Minerals) Diagnos , Ontario Debut Diamonds Inc. 2% NSR (All Minerals) Eagle’s Nest , Ontario Wyloo Metals Pty Ltd (Ring of Fire Metals) 1% GR (All Minerals) Folson Lake , Ontario Wyloo Metals Pty Ltd (Ring of Fire Metals) 2% NSR (All Minerals) Kyle , Ontario Renforth Resources Inc. 2% NSR (All Minerals) MacFadyen & Pele , Ontario Wyloo Metals Pty Ltd (Ring of Fire Metals) 2% NSR (All Minerals) Ring of Fire (Black Thor) , Ontario Wyloo Metals Pty Ltd (Ring of Fire Metals) 2-3% NSR (Cr, Ni, Cu) Ring of Fire (Original Noront Properties) , Ontario Wyloo Metals Pty Ltd (Ring of Fire Metals) 2% GR (Cr) plus other Sungold , Ontario Interbanc Capital Corp. 2% NSR (All Minerals) Timmins (Project 81-Crawford) , Ontario Canada Nickel Company Inc. 2% NSR (All Minerals) Benoist , Quebec Cartier Resources Inc. 1% NSR (All Minerals) (buy-back option on 0.5%) Dalhousie , Quebec Wyloo Metals Pty Ltd (Ring of Fire Metals) 2% NSR (All Minerals) Matagami JV , Quebec Glencore Canada Corporation 2% NSR (All Minerals) Matagami PD1 , Quebec Glencore Canada Corporation Net Carried Interest plus other (All Minerals) Crawford Lake , Saskatchewan Denison Mines Corp. 2% NSR (All Minerals) (buy-back option on 1%) Diversified (Mining) Exploration Assets

103 Franco-Nevada Corporation TSX / NYSE: FNV Mineral Resources and Mineral Reserves Additional Information Asset Operator Interest and % 1 Australia Mt Fitch , Northern Territory Northern Territories Resources Pty Ltd 1-3% NSR (Cu, Pb, Zn, Co, Ni, U) Bowen Basin (Various) , Queensland (30 assets) Peabody Energy Corp/Pembroke Resources South Pty Ltd Production Payment (Coal) Millmerran (Power Station) , Queensland Millmerran Power Partnership 8.3125% NPI of cashflow; NPV threshold (Coal) Peculiar Knob , S. Australia GFG Alliance Production Payment (Fe) Third Plain , S. Australia Perilya Limited/Minotaur Exploration Limited 0.5% NSR (Zn) Moina , Tasmania Geotech International Pty Ltd A$125K lump sum at commencement of mining Rosebery Extension , Tasmania MMG Limited 2.6305% (Au, Ag, Other Minerals) Agnew (Miranda Nickel) , W. Australia Gold Fields Limited 0.5% of production (Ni) Agnew (Miranda Nickel No2) , W. Australia Ramelius Resources Limited 0.5% of production (Ni) Camelback , W. Australia GME Resources Limited A$0.50/tonne (Ni) FMG Hamersley , W. Australia Fortescue Metals Group Ltd A$0.05/tonne; capped at A$1M (Fe) Jaguar Project (Western Claim) , W. Australia Aeris Resources Limited 1-2% NSR (Cu, Zn, Other Metals) Mt Newman-Victory , W. Australia St Barbara Limited/Astro Resources NL 0.07% GR (All Minerals) South Kalgoorlie (Location 48) , W. Australia BHP Billiton Limited 1-1.75% NSR (Au, Ag, Other Minerals) Rest of World CEXCI , Philippines Nickel Asia Corporation Production Payment; capped at $10M Rogozna (KMC) , Serbia Ibaera Capital Advisers Pty Ltd 1.5-2% NSR (Au, Base and Other Metals) Kasese , Uganda Scully Royalty Ltd. 10% of free cash flow; capped at $10M (Co) 1 Royalty terms have been simplified for presentation purposes. Different terms may apply to certain portions of properties or by commodity. Some royalties may have sliding scales tied to commodity price. Others may include participation in sale proceeds of property or gross sales Diversified (Mining) Exploration Assets

104 TSX / NYSE: FNV Franco-Nevada Corporation Overview Precious Metals Diversified Assets Our energy investments have allowed us to be opportunistic through the commodity cycles, adding growth and diversity to our portfolio. Energy Assets Franco-Nevada has owned and invested in energy assets since inception. Our energy investments have allowed us to be opportunistic through the commodity cycles, adding growth and diversity to our portfolio. Energy revenue was 25% of Franco-Nevada’s overall revenue in 2022. The scale of the energy sector along with its many participants has provided access to a diverse set of operators and a broad range of royalty opportunities. Until 2016, Franco-Nevada’s focus was primarily on the Western Canadian Sedimentary Basin. Starting in late 2016, we added exposure to the SCOOP/STACK basins in Oklahoma and the Midland/Delaware basins in Texas due to their attractive economics, favourable regulatory environment and access to market. We subsequently shifted our focus to natural gas, adding royalty assets in the Marcellus shale in Appalachia in 2019, and in the Haynesville shale in East Texas in late 2020. In 2021, Franco-Nevada updated the methodology used to account for undrilled inventory locations for our shale assets in the U.S. The locations are now based on third-party reserve estimates for the Proved, Probable, Possible, and Contingent resource categories for currently producing formations. Relative to our prior methodology, these estimates do not include all hydrocarbon-bearing formations at depth and future well locations are typically constrained to shorter distances away from existing wells. Major Producing Assets as at April 12, 2023 United States Marcellus Range Resources Haynesville Rockcliff Energy/Various SCOOP/STACK Continental Resources/Various Permian Basin Various Canada Weyburn Unit Whitecap Resources Orion Strathcona Resources

105 Franco-Nevada Corporation TSX / NYSE: FNV Mineral Resources and Mineral Reserves Additional Information Edson Cardium Formation Cold Lake Anadarko Basin Permian Basin Midland Delaware STACK SCOOP Peace River Orion Athabasca Weyburn Williston Basin Midale Appalachian Basin Marcellus Oil Gas Geothermal Haynesville Neal Hot Springs U.S. and Canadian Energy Assets

106 TSX / NYSE: FNV Franco-Nevada Corporation North America Overview Precious Metals Diversified Assets Marcellus Location: SW Pennsylvania, United States Operator: Range Resources Energy: Natural Gas and NGLs Royalty: 1% overriding royalty Appalachian Basin Marcellus The Marcellus is one of the most prolific and active gas and liquids plays in North America. Range’s acreage is in a liquids-rich portion of the Marcellus, enhancing well economics and the overall cost structure. Range helped pioneer the Marcellus shale in 2004 with the successful drilling of the Renz #1 well in Washington County, Pennsylvania. Since that time, Range has developed a track record of growing reserves from its asset base. Range’s position in Southwest Appalachia is estimated to have one of the longest core inventory lives among U.S. natural gas producers, and its diversified portfolio of transportation capacity mitigates in-basin pricing risk. In 2022, Franco-Nevada received $56.5 million in revenue from the Marcellus royalty. During the year, Range completed 48 wells in the Marcellus on royalty lands, which is a decrease from 64 wells in 2021. The land base has a potential inventory of 1,083 future well locations 3 implying more than 20 years of additional drilling (based on the prior year drilling rate), followed by many years of production over the life of the wells. There is additional potential in the Utica and Upper Devonian formations not included in the above estimate of well locations that may increase the longevity of the asset. Diverse exposure to natural gas and natural gas liquids Long-life asset with strong underlying economics Secure land title with exposure to undeveloped formations at depth 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ 56.5 $ 36.1 $ 20.4 Production (Mboe) 1 1,442 1,458 1,615 Commodity Split (%) 2 Oil 5% 6% 5% Gas 66% 56% 56% NGL 29% 38% 39% 1 Production is referenced in barrels of oil equivalent net to Franco-Nevada, although is comprised mostly of gas and natural gas liquids 2 Percentage based on production revenue from each commodity 3 Inventory locations are based on third-party reserve estimates for the Proved, Probable, Possible, and Contingent resource categories for currently producing formations Franco-Nevada has a 1% royalty on the majority of Range Resources Corporation’s (“Range”) operated position in Southwest Pennsylvania. The royalty is calculated as 1% of gross production less minor deductions from approximately 338,000 net acres of Range’s working interest position in Washington, Western Allegheny and Southern Beaver counties in Pennsylvania. The royalty applies to existing production and future development from the Marcellus shale formation as well as future potential development from the Utica and Upper Devonian formations. The royalty is registered on title and is a direct interest in real property. Range Resources drill pad, SW Pennsylvania

107 Franco-Nevada Corporation TSX / NYSE: FNV North America Mineral Resources and Mineral Reserves Additional Information Haynesville Location: East Texas, United States Operator: Rockcliff Energy, Others Energy: Natural Gas Royalty: Various Royalty Rates Harrison County Panola County Texas Haynesville FNV Royalty Acreage Haynesville Fairway Louisiana TEXAS Eagle Ford Barnett Haynesville-Bossier NEW MEXICO LOUISIANA OKLAHOMA ARKANSAS Regional Basins Tuscaloosa Fayetteville Woodford Spraberry Bend Permian Basin Anadarko Basin Ardmore Basin Arkomo Basin Fort Worth Basin km 0 15 N miles 0 10 The portfolio principally generates revenue from dry natural gas production which amounted to $72.9 million in 2022, benefitting from strong realized natural gas prices. During 2022, approximately 59 wells were completed on royalty lands. The land base has a potential inventory of 464 future well locations 4 implying approximately eight years of additional drilling (based on the prior year drilling rate), followed by many years of production over the life of the wells. The royalties also provide development potential in the Cotton Valley formation, which may be further exploited in the future. The Haynesville portfolio has performed well since acquisition benefitting from robust activity levels and favorable realized gas prices. Natural gas exposure concentrated under strong operator Close proximity to U.S. Gulf Coast enhances economics Secure land title with proven production history 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ 72.9 $ 38.5 $ 4.21 1 Production (Mboe) 2 1,988 1,904 340 Commodity Split (%) 3 Oil 0% 1% 0% Gas 99% 97% 100% NGL 1% 2% 0% 1 Revenue from October 1 st effective date until December 31, 2020 2 Production is referenced in barrels of oil equivalent net to Franco-Nevada, although is comprised mostly of natural gas 3 Percentage based on production revenue from each commodity 4 Inventory locations are based on third-party reserve estimates for the Proved, Probable, Possible, and Contingent resource categories for currently producing formations In December of 2020, Franco-Nevada acquired a portfolio of royalty rights in the Haynesville natural gas play in Texas from Mesa Minerals Partners LLC, a Quantum Energy Partners portfolio company, for $135 million. The Haynesville is currently one of the most active natural gas plays in North America, owing to its strong well performance and close proximity to infrastructure along the U.S. Gulf Coast, which reduces transportation costs. The royalties consist of approximately 2,701 acres of mineral rights (net to Franco-Nevada), located in Harrison and Panola counties and provide a perpetual interest in land. The royalty position is situated in a core area of the East Texas portion of the Haynesville, which represents a shallower part of the basin where the producing formation is thickest. The portfolio was originally assembled in strategic partnership with Rockcliff Energy II LLC (“Rockcliff”), which allowed for acreage to be selected on the basis of geologic quality as well as prioritization under the company’s drilling schedule. Approximately 75% of the royalty position is operated by Rockcliff, who has been a leading the most active operator in the East Texas Haynesville. Rockcliff Energy drill rig, East Texas

108 TSX / NYSE: FNV Franco-Nevada Corporation North America Overview Precious Metals Diversified Assets SCOOP/STACK Location: Oklahoma, United States Operator: Continental Resources, Ovintiv Inc., Devon Energy, Others Energy: Oil and Natural Gas Royalty: Various Royalty Rates GARFIELD N km 0 40 Black Oil Volatile Oil Condensate Dry Gas DEWEY BLAINE KINGFISHER MAJOR CANADIAN OKLAHOMA LINCOLN CREEK OKFUSKEE HUGHES COAL ATOKA BRYAN MARSHALL JOHNSTON PONTOTOC SEMINOLE POTTAWATOMIE CLEVELAND MCCLAIN GARVIN MURRAY CARTER LOVE JEFFERSON STEPHENS CLAY COTTON WICHITA WILBARGER TILLAMAN JACKSON KIOWA GRADY GREER WASHITA COMANCHE LOGAN PAYNE CADDO CUSTER Pressure Transition miles 0 25 SCOOP/STACK STACK FNV Royalty Acreage Oklahoma City OKLAHOMA SCOOP TEXAS KANSAS ARKANSAS NEW MEXICO MISSOURI COLORADO Anadarko Basin STACK SCOOP The top three operators on the acreage are Ovintiv Inc. (formerly Encana), Devon Energy, and Continental Resources, Inc. (“Continental”). These operators reduced their drilling activity in the play in 2020 owing to a sharp drop in commodity prices, and while the drilling rates have been rebounding, they remain below peak levels achieved in 2019. In 2022, 38 wells were completed on royalty lands. The land base has a potential inventory of 1,024 future well locations 4 implying approximately 27 years of additional drilling (based on the prior year drilling rate), followed by many years of production over the life of the wells. In the fourth quarter of 2018, Franco-Nevada and Continental entered into a transaction whereby Franco-Nevada acquired $120 million in existing royalties owned by Continental and formed a jointly owned entity (the “Royalty Acquisition Venture”) to acquire up to $400 million in royalty rights under Continental’s area of operations. With the Royalty Acquisition Venture, Franco-Nevada funds 80% of the acreage cost and receives 50-75% of distributions, depending on performance against pre-set volume targets. Franco-Nevada received 50% of distributions in 2022, however, our share of distributions is expected to begin increasing going forward. In exchange for the partial capital carry in favour of Continental, the venture provides Franco-Nevada with an opportunity to acquire royalty rights at the grass-roots level, leverage the value of Continental’s drilling plans, and benefit from the company’s knowledge of local land title and geology. In addition, Continental manages the assets and Franco-Nevada does not incur any administrative burden. The venture was established to acquire royalty rights in areas primarily within acreage operated by Continental. These areas offer excellent economics, proximity to infrastructure and future upside via stacked hydrocarbon- bearing horizons. As at December 31, 2022, Franco-Nevada had contributed $440.6 million to the venture, with a remaining commitment of approximately $79.4 million. In the fourth quarter of 2022, Harold Hamm, Continental’s founder, privatized the company through an acquisition of the outstanding publicly traded shares. SCOOP/STACK provides exposure to both oil and gas-rich areas Exposure to multiple formations at depth Royalty volumes in the Royalty Acquisition Venture are supported by volume targets from Continental 2022 2021 2020 Revenue to Franco-Nevada ($ million) 1, 2 $ 57.8 $ 36.4 $ 21.6 Production (Mboe) 2 1,051 893 1,174 Commodity Split (%) 3 Oil 40% 48% 60% Gas 57% 47% 32% NGL 4% 6% 8% 1 Revenue refers only to payments made to Franco-Nevada 2 Includes revenue and production net to Franco-Nevada from both Continental Royalty Acquisition Venture and Other SCOOP/STACK royalties 3 Percentage based on production revenue from each commodity 4 Inventory locations are based on third-party reserve estimates for the Proved, Probable, Possible, and Contingent resource categories for currently producing formations Through several discrete transactions, Franco-Nevada has accumulated a large royalty position in the SCOOP and STACK plays in Oklahoma. In the fourth quarter of 2016, Franco-Nevada purchased royalty rights in the STACK shale play in Oklahoma’s Anadarko basin for approximately $100 million. The current focus is on the Meramec formation, although the royalties have exposure to multiple horizons at depth, including the Woodford and Osage formations. In the second quarter of 2017, Franco-Nevada acquired additional mineral title and royalty interests for $27.6 million, which added to its existing position in the STACK and provided new exposure to the SCOOP shale play to the south. In total, the assets consist of GORRs and mineral title rights which apply to approximately 1,430 acres (net to Franco-Nevada). Continental Resources drill rig, Oklahoma

109 Franco-Nevada Corporation TSX / NYSE: FNV North America Mineral Resources and Mineral Reserves Additional Information Permian Basin Location: Texas, United States Operator: Pioneer Natural Resources, Occidental Petroleum, Coterra Energy, others Energy: Oil Royalty: Various Royalty Rates REAGAN GLASSCOCK MIDLAND ECTOR UPTON CRANE HOWARD MARTIN ANDREWS BORDEN DAWSON CROCKETT IRION Midland Basin Permian Basin FNV Royalty Acreage N km 0 16 miles 0 10 WINKLER PECOS REEVES WARD CULBERSON LOVING LEA EDDY JEFF DAVIS New Mexico Texas San Simon Channel Northwest Shelf Central Basin Platform Texas Midland Basin Delaware Basin New Mexico Permian Basin Delaware Basin Net Royalty Acres by County 23% Reeves 16% Martin 15% Glasscock 11% Midland 8% Howard 7% Loving 5% Reagan 4% Upton 3% Ward 3% Culberson 3% Eddy 1.% Lea 1% Other geologically, and is attractive to operators due to the stacked pay potential and premier economics. The current focus of operators in the Delaware Basin are the Wolfcamp and Bonespring horizons. The royalties consist of approximately 94% mineral title rights, along with some GORR interests, which apply to approximately 676 acres (net to Franco- Nevada). There are various operators across the acreage who continue to direct capital toward the Delaware Basin, which will result in continued development of our assets over time. Franco-Nevada’s Permian assets generated $52.6 million in revenue in 2022 representing a 51% increase from 2021. This was primarily driven by higher realized oil prices coupled with an increase in wells completed on our land base. During the year, 777 wells were completed on royalty lands, which is an increase from the 585 wells completed in 2021. The land base has a potential inventory of 6,307 future well locations 4 implying approximately eight years of additional drilling (based on the prior year drilling rate), followed by many years of production over the life of the wells. The inventory estimate relates to currently active formations, however the Permian has additional stacked formations that may be exploited in the future. Royalties provide exposure to Midland and Delaware Basins Permian represents one of the most active and economic plays in North America Exposure to upside through multiple formations at depth 2022 2021 2020 Revenue to Franco-Nevada ($ million) 1 $ 52.6 $ 34.9 $ 18.5 Production (Mboe) 2 780 708 737 Commodity Split (%) 3 Oil 77% 78% 88% Gas 12% 11% 5% NGL 11% 11% 7% 1 Revenue refers only to payments made to Franco-Nevada 2 Net to the Oil and Gas Interests 3 Percentage based on production revenue from each commodity 4 Inventory locations are based on third-party reserve estimates for the Proved, Probable, Possible, and Contingent resource categories for currently producing formations Franco-Nevada has exposure to the Permian Basin in West Texas, through both the Midland and Delaware sub-basins. Both of these basins are considered among the most economic and prolific shale oil plays in the U.S. and have been the key drivers behind U.S. oil production growth over the last decade. The Permian is the most active shale play in North America. Effective in the first quarter of 2017, Franco-Nevada purchased a package of royalties in the Midland Basin for approximately $115 million. The Midland Basin comprises the eastern portion of the broader Permian Basin. The royalty acreage is very diversified, covering a significant portion of the core of the Midland basin and providing exposure to multiple benches in the Wolfcamp and Spraberry formations. The royalties consist of approximately 97% mineral title rights, along with some GORR interests, which apply to approximately 1,036 acres (net to Franco- Nevada). The acreage is host to numerous operators, however, Pioneer Natural Resources (“Pioneer”) is the operator for the largest portion of royalty acreage and is one of the largest companies operating in the basin. Pioneer is focused solely on its Midland Basin acreage and achieves some of the best well results in the area. In the third quarter of 2017, Franco-Nevada acquired a package of royalties in the Delaware Basin for approximately $101 million. The Delaware Basin comprises the western portion of the broader Permian Basin, which is located in West Texas and southeast New Mexico. Sitting to the west of the Midland Basin, the Delaware Basin shares many similarities Drill rig in the Permian Basin, Texas

110 TSX / NYSE: FNV Franco-Nevada Corporation North America Overview Precious Metals Diversified Assets Weyburn Unit Location: Saskatchewan, Canada Operator: Whitecap Resources Inc. Energy: Oil Royalty: NRI: 11.71% /ORR: 0.44% / WI: 2.56% Weyburn Unit wells Unitized land Note: not to scale T7 T6 T5 R13W2 R12W2 R14W2 N 2022 2021 2020 Revenue to Franco-Nevada ($ million) 1 $ 65.0 $ 43.8 $ 16.0 Production (Mboe) 2 769 736 511 Commodity Split (%) 3 Oil 100% 100% 100% Gas 0% 0% 0% NGL 0% 0% 0% 1 Revenue refers only to payments made to Franco-Nevada 2 Net to the Oil and Gas Interests based on 0.44% ORR, 11.71% NRI and 2.56% WI. ORR and W.I. volumes are a percentage of gross production. NRI volumes are pro-rated based on our profit, reflecting a net interest 3 Percentage based on production revenue from each commodity Franco-Nevada, after Whitecap Resources Inc. (“Whitecap”), has the second largest economic interest in the Weyburn Unit, one of the world’s largest geological CO 2 storage projects. The Weyburn Unit is located approximately 129 km southeast of Regina, Saskatchewan and encompasses approximately 216 km 2 on a gross basis (net 31 km 2 ) in which the Mississippian Midale beds are unitized. Franco-Nevada holds a 11.71% NRI, a 0.44% ORR and a 2.56% WI in the Weyburn Unit. Production commenced from the Midale zone within the unitized area in 1955 under primary depletion (solution gas expansion). Establishment of the Weyburn Unit occurred in 1963 for the purpose of implementing a waterflood pressure maintenance scheme. In 2000, Cenovus, the operator at that time, began injecting CO 2 in a portion of the Weyburn Unit as an enhanced oil recovery (“EOR”) method. Currently, CO 2 is being sourced from the Dakota Gasification Company in North Dakota and the Boundary Dam power station in Saskatchewan. Gross production of the Weyburn Unit is approximately 21,000 Boe/d of light oil. Weyburn is a long-life asset with a Proven and Probable Reserve life of almost 20 years. Weyburn Unit Note: not to scale R15W2 R14W2 R13W2 R12W2 R11W2 R10W2 R9W2 R8W2 R15W2 R14W2 R13W2 R12W2 R11W2 R10W2 R9W2 R8W2 T9 T8 T7 T6 T5 T4 T3 T9 T8 T7 T6 T5 T4 T3 Weyburn, SK Unitized land Midale, SK N For 2022, revenue received by Franco-Nevada from the Weyburn Unit was $65.0 million. Weyburn revenues are linked to the Edmonton Light oil benchmark price which averaged C$119.73/bbl in 2022. Revenue for the NRI is recorded net of deductions for capital and operating costs, which results in increased leverage to the oil price. Oil production, including NGLs, net to Franco-Nevada was 2,374 Boe/d. Franco-Nevada takes product-in-kind for its WI and NRI share of this production and markets it through a third-party marketer. Weyburn is a highly economic reservoir, although our NRI and WI in the unit have higher leverage to commodity price swings than our revenue based royalties. Our interests benefited from the recovery in commodity prices in 2022 following the pandemic lows in 2020. CO 2 EOR project commenced in 2000 and continues to be rolled out Interests are leveraged to commodity prices Low decline asset with proven production history Weyburn processing facility, Saskatchewan

111 Franco-Nevada Corporation TSX / NYSE: FNV North America Mineral Resources and Mineral Reserves Additional Information Orion Location: Alberta, Canada Operator: Strathcona Resources Ltd. Energy: Oil Royalty: Royalty Rate 4% Grand Prairie Calgary Lloydminster Hardisty Edmonton Fort McMurray Cold Lake Peace River Alberta Saskatchewan Orion Athabaska Lloydminster Hardisty Edmonton Cold Lake Orion N Orion Alberta Saskatchewan Liquids Pipeline 2022 2021 2020 Revenue to Franco-Nevada ($ million) 1 $ 15.1 $ 10.8 $ 5.9 Production (Mboe) 2 229 237 281 Commodity Split (%) 3 Oil 100% 100% 100% Gas 0% 0% 0% NGL 0% 0% 0% 1 Revenue refers only to payments made to Franco-Nevada 2 Net to the Oil and Gas Interests 3 Percentage based on production revenue from each commodity Franco-Nevada acquired a 4% GORR on the Orion Thermal Project in the Cold Lake region of Alberta from OSUM Oil Sands Corp. for C$92.5 million in 2017. In 2021, OSUM was acquired by Strathcona Resources Ltd. (“Strathcona”), who now operates the project. The royalty applies to the Clearwater formation and allows for the deduction of transportation and diluent costs associated with transporting the product to market. Orion is a Steam Assisted Gravity Drainage (“SAGD”) operation that began commercial production in 2007. Infrastructure at the project consists of a central processing facility surrounded by several well pads which supply the plant. The asset has a large resource base capable of supporting the production of heavy oil beyond 2050 on a Proven and Probable Reserve basis. As at year-end 2022 Orion was producing approximately ~15,700 barrels per day of bitumen. The asset is permitted to produce in excess of 20,000 barrels per day of bitumen. Franco-Nevada recorded revenue of $15.1 million in 2022. Royalty payments are based on the WCS benchmark price and are impacted by changes in the differential with WTI as well as by the price of diluent, which is required to transport the product to market. Long-life resource located in Canada Stable year-over-year production volumes Potential for future capacity expansion Orion processing facilities, Alberta

112 TSX / NYSE: FNV Franco-Nevada Corporation North America Overview Precious Metals Diversified Assets Other Producing Energy Assets Location: BC / AB / SK / MB, Canada and Oregon, U.S. Operator: Various Royalty: ORR/FH: 0.5-20% N km 0 80 BRITISH COLUMBIA MONTANA IDAHO WASHINGTON Montney Deep Basin Edson Cardium Duvernay Alberta Bakken Lloydminster Heavy Oil Shallow Gas CBM (HSCN) Redwater Viking CALGARY Peace River Oil Sands Athabasca Oil Sands Cold Lake Oil Sands Alberta/ British Columbia Oil and Gas Interests ALBERTA EDMONTON SASKATCHEWAN Company Core Land Company Non Core Land Major City MANITOBA SASKATCHEWAN NORTH DAKOTA MONTANA Sanish Oil Torquay Oil SE Saskatchewan Lower Bakken and Mississippian Oil Williston Basin Bakken Dodsland Viking Shallow Gas Spearfish Oil REGINA Lloydminster Heavy Oil Shaunavon Oil N km 0 80 Saskatchewan/Manitoba Oil and Gas Interests Weyburn/ Midale ALBERTA Company Core Land Company Non Core Land Major City In Saskatchewan and Manitoba, the assets are focused primarily in high quality oil plays and are operated by companies such as Crescent Point Energy, Saturn Oil & Gas Inc., Vermilion Energy Inc. and Tundra Oil & Gas Partnership. The most significant producing assets are comprised of the Midale Unit and the Tidewater royalties. Franco-Nevada holds a 1.14% gross override royalty interest and a 1.59% working interest in the Midale Unit in Southeast Saskatchewan where Cardinal Energy produces approximately 3,800 Boe/d through CO 2 Enhanced Oil Recovery (“EOR”) techniques. The Tidewater royalties in Saskatchewan generate oil production from the Shaunavon and other formations and are managed by various operators. In Alberta and BC, the interests generate revenue primarily from natural gas production from shallow gas formations such as Milk River and Medicine Hat. In northern Alberta, the interests provide exposure to deeper conventional gas targets including the Shunda, Grosmont and Elkton formations. Franco-Nevada’s most significant assets in the region are the Edson property operated by Canadian Natural Resources Ltd. (“CNRL”) and the Medicine Hat Consolidated Unit No.1, operated by Canlin Resources Partnership. Franco-Nevada has an approximate 15% overriding royalty in the Edson property where CNRL extracts gas and natural gas liquids by exploiting resources in the Cardium Formation. The Medicine Hat Unit has been producing gas since 1963 and is located approximately 257 km southeast of Calgary. Other production comes from unitized and non-unitized wells, including gross overriding royalty positions in ten different Units across Alberta. Other operators on the interests include, CNRL and Imperial Oil. In 2020, Franco-Nevada acquired a royalty on the Neal Hot Springs geothermal operation in Oregon as part of a broader portfolio transaction. The plant produces approximately 22 MW of geothermal energy and is operated by Ormat Technologies, Inc. Franco-Nevada received $0.23 million in revenue from Neal Hot Springs in 2022. Primarily quality oil plays in Saskatchewan and Manitoba Exposure to shallow gas and deeper conventional gas in Alberta and BC Interest in the Neal Hot Springs geothermal operation 2022 2021 2020 Revenue to Franco-Nevada ($ million) 1 $ 13.4 $ 8.9 $ 5.1 Production (Mboe) 2 250 257 319 Commodity Split (%) 3 Oil 66% 67% 70% Gas 23% 20% 16% NGL 11% 13% 14% 1 Revenue refers only to payments made to Franco-Nevada; includes revenue received from lease and bonus payments 2 Net to the Oil and Gas Interests and does not include production from Neal Hot Springs 3 Percentage based on production revenue from each commodity Franco-Nevada has other interests in Western Canada which generate revenue primarily through lessor royalties and GORRs. Aside from the major producing assets of Weyburn and Orion, Franco- Nevada has 44 Other Producing Assets that generate revenue. These interests cover more than 2,250 km 2 .

113 Franco-Nevada Corporation TSX / NYSE: FNV Mineral Resources and Mineral Reserves Additional Information Other Producing Energy Assets Energy Exploration Assets Location Alameda Oil Saskatchewan Alida Oil Saskatchewan Benson Oil Saskatchewan Carnduff Oil Saskatchewan Cessford Gas Alberta Claresholm Gas Alberta E. Crossfield Gas Alberta Edson Gas Alberta Elswick Oil Saskatchewan Enchant Gas Alberta Ferrybank Gas Alberta Ghost Pine Gas Alberta Hanlan Gas Alberta Harmattan Gas Alberta Harvest – AB Gas Alberta Huntoon Oil Saskatchewan Innes Oil Saskatchewan Inverness Oil Alberta Laglace Gas Alberta Lesser Slave Oil Alberta Lochend Gas Alberta Lone Pine Gas Alberta Macoun Oil Saskatchewan Manitoba Oil Manitoba Medicine Hat Gas Alberta Midale Royalties Oil Saskatchewan Midale WI Oil Saskatchewan Montreal Trust Oil Saskatchewan Neal Hot Springs Geothermal Oregon Oungre Oil Saskatchewan Pearmac – AB Gas Alberta Pearmac – MB Oil Manitoba Pearmac – SK Oil Saskatchewan Prudential – AB Gas Alberta Qu’Appelle Oil Saskatchewan Queensdale Oil Saskatchewan Rainbow South Oil Alberta Rocanville Oil Saskatchewan Royce Gas Alberta Stoughton Oil Saskatchewan Swalwell Gas Alberta Tidewater Oil Saskatchewan Viewfield Oil Saskatchewan Watts/Craig Oil Alberta Location: AB / MB / SK, Canada & Nevada, U.S. Operator: Various Royalty: 0.1-18% and WI: 2-100% In addition to its producing assets, Franco-Nevada has exposure to a portfolio of undeveloped, non-producing oil and gas interests. These are grouped into 26 different assets covering an area of over 1,500 km 2 and are located in Alberta, Saskatchewan and Manitoba along with a small amount of acreage in Nevada. Much of the interests consist of mineral title which is currently unleased. Numerous future opportunities in Western Canada and the U.S. Energy Exploration Assets Location Big Bend Alberta Carbon Alberta Cindy/Belloy Alberta Colgate Saskatchewan Devil Alberta Dixonville Alberta Elko Mineral Rights Nevada Flatrock British Columbia Granor Alberta Harvest – SK Saskatchewan Hotchkiss Alberta Killam Alberta Kimiwan Alberta Liege Alberta Long Coulee Alberta Melville Saskatchewan Paradise British Columbia Provost Alberta Prudential – MB Manitoba Prudential – SK Saskatchewan Steelman Saskatchewan Swift Current Saskatchewan Touchwood Alberta Turner Alberta W. Calling Lake Alberta Widewater Alberta

114 TSX / NYSE: FNV Franco-Nevada Corporation Overview Precious Metals Diversified Assets

Additional Information Mineral Resources and Mineral Reserves Mineral Resources and Mineral Reserves Mineral Resources and Mineral Reserves

116 TSX / NYSE: FNV Franco-Nevada Corporation Overview Precious Metals Diversified Assets Mineral Resources and Mineral Reserves 116 TSX / NYSE: FNV Franco-Nevada Corporation Mineral Resources and Mineral Reserves Gold Mineral Resources (Inclusive of Mineral Reserves) Measured (M) Indicated (I) (M)+(I) Inferred Notes Tonnes 000s Grade g/t Contained 000 oz Tonnes 000s Grade g/t Contained 000 oz Contained 000 oz Tonnes 000s Grade g/t Contained 000 oz South America Candelaria 3,4 826,839 0.13 3,373 405,558 0.15 1,963 5,336 149,583 0.10 484 Antapaccay 5 306,000 0.08 787 937,000 0.08 2,292 3,079 120,000 0.05 193 Condestable 6 32,975 0.24 255 55,438 0.24 426 688 60,489 0.24 479 Sossego 1,7 164,100 0.12 638 236,800 0.12 950 1,589 21,700 0.10 70 Cerro Moro 1,8 542 7.98 139 2,144 6.31 435 574 1,488 4.73 226 Salares Norte 9 — — — 26,424 4.63 3,933 3,933 2,649 1.67 142 Cascabel (Alpala) 10 1,209,800 0.39 15,090 1,980,700 0.15 9,660 24,850 649,100 0.12 2,520 Tocantinzinho 11 17,609 1.49 841 30,505 1.29 1,261 2,102 1,580 0.99 50 Posse (Mara Rosa) 12 14,000 1.20 510 19,000 1.10 640 1,200 100 0.60 2 Taca Taca 13 421,500 0.14 1,853 1,781,800 0.07 4,200 6,052 716,900 0.05 1,183 CentroGold (Gurupi) 14 — — — 29,200 1.82 1,705 1,705 10,400 1.71 572 Calcatreu 15 — — — 9,841 2.11 669 669 8,078 1.34 348 San Jorge 16 79,518 0.22 584 104,091 0.19 626 1,211 11,235 0.16 59 Volcan 17 105,918 0.74 2,513 283,763 0.70 6,368 8,881 41,553 0.50 671 Central America and Mexico Cobre Panama 18 177,300 0.13 741 3,294,300 0.06 6,418 7,159 1,090,400 0.04 1,296 Guadalupe-Palmarejo 1,2,19 7,358 2.15 508 27,962 1.80 1,619 2,127 5,110 2.31 380 United States Carlin Trend 20 86,179 4.69 13,008 243,902 2.35 17,886 30,894 118,699 2.34 8,943 Marigold 1,21 — — — 319,100 0.49 5,004 5,004 21,800 0.36 252 Bald Mountain 1,22 8,381 0.70 190 276,664 0.50 4,163 4,353 50,064 0.30 522 Mesquite 1,23 115 0.81 3 135,174 0.43 1,852 1,855 84,030 0.34 912 Castle Mountain 1,24 85,691 0.55 1,515 246,442 0.52 4,123 5,638 69,890 0.63 1,422 Fire Creek/Midas 1,2,25 2 17.14 1 171 16.60 91 92 69,474 1.43 3,185 Hollister 1,2,26 16 19.05 10 64 19.59 40 51 582 14.58 273 Stibnite Gold 27 — — — 148,160 1.33 6,320 6,320 52,128 0.96 1,611 Sandman 28 — — — 18,550 0.73 433 433 3,246 0.58 61 Robinson 29 317,942 0.18 1,840 40,173 0.15 194 2,072 11,942 0.18 69 Mountain View 30 — — — — — — — 23,200 0.57 427 Canada Detour Lake 1,31 138,483 1.03 4,567 1,440,616 0.74 34,071 38,638 58,317 0.62 1,156 Sudbury 32 not available not available not available Hemlo 33 720 5.11 120 52,000 2.09 3,500 3,600 5,400 3.30 580 Brucejack 34 4,300 8.00 1,100 18,100 10.70 6,200 7,200 9,400 10.30 3,100 Kirkland Lake 1,35 407 12.07 158 20,575 5.46 3,612 3,770 22,291 4.43 3,175 Dublin Gulch (Eagle) 36 35,000 0.62 705 198,000 0.57 3,596 4,304 30,000 0.52 497 Musselwhite 1,37 4,700 5.03 760 9,600 5.35 1,650 2,410 3,000 4.15 410 Timmins West 1,38 1,770 3.13 178 5,139 3.01 497 675 174 4.36 24 Canadian Malartic 1,39 51,604 0.70 1,158 102,580 2.17 7,156 8,314 37,986 2.27 2,772 Island Gold 1,40 854 8.81 242 4,648 10.12 1,513 1,755 8,066 13.61 3,529 Golden Highway – Holt Complex 1,41 5,806 4.29 800 5,884 4.75 898 1,699 9,097 4.48 1,310 Golden Highway – Hislop 1,42 — — — 1,337 4.00 173 173 804 3.80 97 Golden Highway – Aquarius 1,43 — — — 23,112 1.49 1,106 1,106 502 0.87 14 Magino 44 43,558 0.98 1,367 88,849 0.93 2,652 4,019 20,919 0.78 526 Greenstone 1,45 5,623 1.28 232 145,463 1.45 6,775 7,007 24,948 3.83 3,072 Valentine Gold 46 29,230 2.19 2,060 35,400 1.67 1,900 3,960 20,750 1.65 1,100 Eskay Creek 47 22,521 3.58 2,590 25,274 1.82 1,477 4,067 3,750 1.47 177 Red Lake (McFinley) 48 — — — 2,100 4.63 317 317 1,800 3.84 220 Courageous Lake 49 13,401 2.53 1,100 93,914 2.28 6,900 8,000 53,587 2.26 3,900 Goldfields 50 — — — 23,200 1.31 980 980 7,100 0.92 211 Monument Bay 51 — — — 36,581 1.52 1,787 1,787 41,946 1.32 1,781 Red Mountain 52 1,920 8.81 544 1,271 5.85 239 783 405 5.32 69 Fenelon-Martiniere 53 — — — 30,702 3.09 3,054 3,054 24,680 2.96 2,351 Spences Bridge (Shovelnose) 54 — — — 10,592 2.32 791 791 9,177 0.89 263 Australia Duketon 55 26,000 0.83 690 108,000 0.99 3,430 4,120 34,000 0.94 1,030 Matilda (Wiluna) 56 1,430 1.24 57 57,100 1.91 3,495 3,552 19,900 3.09 1,978 South Kalgoorlie 57 2,799 2.91 262 12,136 3.03 1,183 1,445 10,116 3.25 1,058 Yandal (Bronzewing) 58 17,821 1.60 914 57,614 1.60 2,995 3,909 8,878 1.60 459 Aphrodite 59 — — — 17,614 2.05 1,163 1,163 7,892 1.97 500 Red October 60 105 8.00 27 483 5.67 88 116 2,287 7.54 555 Henty 61 — — — 1,800 4.50 257 257 900 4.00 111 Bullabulling 62 — — — 68,805 0.99 2,190 2,190 26,595 1.19 1,020 Rebecca 63 — — — 26,000 1.20 1,000 1,000 5,700 1.00 190 Edna May 64 884 2.10 60 23,110 0.95 707 767 7,039 0.96 217 Glenburgh 65 — — — 13,500 1.00 431 431 2,800 0.90 79 Rest of World MWS 66 75,200 0.22 533 165,400 0.25 1,317 1,849 — — — Sabodala-Massawa Complex 67 22,300 1.18 843 83,800 2.04 5,490 6,333 19,900 2.16 1,380 Tasiast 1,68 63,303 1.16 2,359 89,945 1.69 4,880 7,239 18,565 2.40 1,443 Subika (Ahafo) 1,69 40,600 1.88 2,454 96,600 2.16 6,710 9,160 21,200 2.41 1,640 Karma 70 300 0.40 4 47,700 1.24 1,894 1,898 16,200 1.30 679 Edikan 71 18,200 1.06 620 37,900 1.04 1,265 1,885 5,300 1.66 283 Kiziltepe 72 600 3.01 58 698 2.33 52 110 1,180 2.09 79 Séguéla 1,73 — — — 19,171 2.61 1,611 1,611 9,154 3.26 960 Perama Hill 74 3,093 4.15 412 10,973 2.73 962 1,374 16,006 1.53 787 Aği Daği 1,75 2,516 0.74 60 104,453 0.63 2,132 2,192 19,551 0.52 330 Sissingué 76 1,300 1.34 56 1,200 1.39 55 111 100 1.10 2 Total Gold Mineral Resources * 71,488 217,421 288,987 71,464 * Total excludes New Prosperity Mineral Resources and Mineral Reserves Mineral Resources and Mineral Reserves

Additional Information 117 Franco-Nevada Corporation TSX / NYSE: FNV Mineral Resources and Mineral Reserves Gold Mineral Reserves Proven Probable Proven and Probable Notes Tonnes 000s Grade g/t Contained 000 oz Tonnes 000s Grade g/t Contained 000 oz Tonnes 000s Grade g/t Contained 000 oz South America Candelaria 3,4 512,724 0.11 1,856 142,574 0.14 623 655,298 0.12 2,479 Antapaccay 5 225,000 0.08 579 275,000 0.07 619 499,000 0.07 1,198 Condestable 6 20,802 0.18 120 7,409 0.19 45 28,211 0.18 163 Sossego 7 1,500 0.23 11 83,900 0.17 459 85,400 0.18 470 Cerro Moro 8 365 9.27 109 1,384 7.82 348 1,749 8.12 457 Salares Norte 9 — — — 20,763 5.19 3,467 20,763 5.19 3,467 Cascabel (Alpala) 10 — — — 558,000 0.52 9,370 558,000 0.52 9,370 Tocantinzinho 11 17,973 1.46 842 30,703 1.22 1,200 48,676 1.31 2,042 Posse (Mara Rosa) 12 11,800 1.20 456 12,000 1.16 446 23,800 1.18 902 Taca Taca 13 408,300 0.13 1,750 1,350,200 0.08 3,337 1,758,500 0.09 5,087 CentroGold (Gurupi) 14 — — — 20,000 1.70 1,100 20,000 1.70 1,100 Calcatreu 15 — — — — — — — — — San Jorge 16 — — — — — — — — — Volcan 17 — — — — — — — — — Central America and Mexico Cobre Panama 18 175,000 0.12 675 2,760,800 0.07 6,186 2,935,900 0.07 6,861 Guadalupe-Palmarejo 2,19 3,702 2.02 241 12,808 1.73 712 16,512 1.80 953 United States Carlin Trend 20 34,146 6.07 6,667 112,195 2.73 9,919 146,341 3.50 16,260 Marigold 21 — — — 203,800 0.52 3,410 203,800 0.52 3,410 Bald Mountain 22 — — — 36,900 0.50 625 36,900 0.50 625 Mesquite 23 34 0.79 1 30,264 0.48 470 30,298 0.48 471 Castle Mountain 24 84,910 0.55 1,498 172,990 0.48 2,670 257,900 0.51 4,168 Fire Creek/Midas 2,25 — — — — — — — — — Hollister 2,26 — — — — — — — — — Stibnite Gold 27 — — — 104,626 1.43 4,816 104,626 1.43 4,816 Sandman 28 — — — — — — — — — Robinson 29 110,513 0.15 533 8,860 0.12 34 119,374 0.15 576 Mountain View 30 — — — — — — — — — Canada Detour Lake 31 107,622 0.91 3,133 742,795 0.73 17,551 850,417 0.76 20,683 Sudbury 32 not available not available not available Hemlo 33 500 4.93 79 23,000 2.19 1,600 23,000 2.25 1,700 Brucejack 34 2,400 7.90 600 12,000 8.40 3,300 14,400 8.30 3,900 Kirkland Lake 35 135 15.33 66 3,802 15.11 1,847 3,937 15.11 1,913 Dublin Gulch (Eagle) 36 21,000 0.68 464 97,000 0.63 1,943 118,000 0.64 2,407 Musselwhite 37 3,400 5.48 590 7,000 5.89 1,320 10,400 5.76 1,920 Timmins West 38 1,518 3.03 148 4,172 2.94 393 5,690 2.96 541 Canadian Malartic 39 51,604 0.70 1,158 52,370 1.10 1,852 103,976 0.90 3,010 Island Gold 40 833 8.92 239 3,393 11.24 1,225 4,225 10.78 1,464 Golden Highway – Holt Complex 41 — — — — — — — — — Golden Highway – Hislop 42 — — — — — — — — — Golden Highway – Aquarius 43 — — — — — — — — — Magino 44 26,286 1.24 1,044 39,238 1.10 1,383 65,526 1.15 2,427 Greenstone 45 5,623 1.28 232 129,700 1.27 5,307 135,323 1.27 5,538 Valentine Gold 46 23,360 1.89 1,430 28,220 1.40 1,270 51,580 1.62 2,690 Eskay Creek 47 17,300 3.64 2,020 12,600 2.10 850 29,900 2.99 2,870 Red Lake (McFinley) 48 — — — 500 5.82 98 500 5.82 98 Courageous Lake 49 12,000 2.41 1,000 79,000 2.17 5,500 91,000 2.20 6,500 Goldfields 50 — — — — — — — — — Monument Bay 51 — — — — — — — — — Red Mountain 52 2,194 6.68 471 351 5.51 62 2,545 6.52 534 Fenelon-Martiniere 53 — — — — — — — — — Spences Bridge (Shovelnose) 54 — — — — — — — — — Australia Duketon 55 14,000 0.53 240 29,000 1.24 1,160 43,000 1.01 1,400 Matilda (Wiluna) 56 570 1.29 24 36,190 1.20 1,401 36,760 1.20 1,424 South Kalgoorlie 57 919 3.32 98 2,717 4.11 359 3,636 3.91 457 Yandal (Bronzewing) 58 10,495 1.50 522 31,476 1.60 1,625 41,971 1.60 2,147 Aphrodite 59 — — — 2,782 3.60 322 2,782 3.60 322 Red October 60 — — — — — — — — — Henty 61 — — — 983 3.60 115 983 3.60 115 Bullabulling 62 — — — — — — — — — Rebecca 63 — — — — — — — — — Edna May 64 15 0.90 0 220 3.20 23 235 3.11 23 Glenburgh 65 — — — — — — — — — Rest of World MWS 66 21,100 0.26 179 166,800 0.24 1,307 187,800 0.25 1,485 Sabodala-Massawa Complex 67 19,200 1.14 705 43,600 2.41 3,381 62,800 2.02 4,086 Tasiast 68 54,519 1.20 2,087 53,529 2.10 3,650 108,048 1.70 5,737 Subika (Ahafo) 69 40,400 1.89 2,450 51,900 1.92 3,200 92,300 1.90 5,650 Karma 70 300 0.40 4 5,200 0.93 154 5,500 0.90 158 Edikan 71 8,700 1.16 325 28,100 1.13 1,019 36,900 1.13 1,344 Kiziltepe 72 466 2.06 31 451 2.65 38 926 2.39 71 Séguéla 73 — — — 12,100 2.80 1,088 12,100 2.80 1,088 Perama Hill 74 3,088 4.03 400 9,410 2.81 850 12,498 3.11 1,250 Aği Daği 75 1,450 0.76 36 52,911 0.66 1,130 54,361 0.67 1,166 Sissingué 76 1,900 1.38 84 400 1.09 14 2,300 1.31 97 Total Gold Mineral Reserves 35,197 116,194 151,091

118 TSX / NYSE: FNV Franco-Nevada Corporation Mineral Resources and Mineral Reserves Overview Precious Metals Diversified Assets Mineral Resources and Mineral Reserves Mineral Resources and Mineral Reserves Silver Mineral Resources – Inclusive of Mineral Reserves Measured (M) Indicated (I) (M)+(I) Silver Inferred Mineral Resources Notes Tonnes 000s Grade g/t Contained 000 oz Tonnes 000s Grade g/t Contained 000 oz Contained 000 oz Tonnes 000s Grade g/t Contained 000 oz Candelaria 4,77 826,839 1.91 50,709 405,558 2.29 29,924 80,632 149,583 1.16 5,570 Antapaccay 78 306,000 1.53 15,047 937,000 1.83 55,167 70,214 120,000 0.87 3,357 Antamina 1,79,80 281,200 9.97 90,125 607,400 11.85 231,396 321,223 1,244,800 11.50 460,197 Condestable 81 32,975 5.87 6,221 55,438 6.28 11,192 17,410 60,489 6.29 12,233 Cerro Moro 1,82 542 475.85 8,292 2,144 315.11 21,721 30,014 1,488 170.60 8,159 Salares Norte 83 — — — 26,424 52.86 44,907 44,907 2,649 10.89 928 Cascabel (Alpala) 84 1,192,000 1.37 52,400 1,470,000 0.84 39,800 92,200 544,000 0.61 10,600 Calcatreu 85 — — — 9,841 19.83 6,275 6,275 8,078 13.09 3,399 Cobre Panama 86 177,300 1.55 8,836 3,294,300 1.33 140,347 149,182 1,090,400 1.08 37,990 Fire Creek/Midas 1,2,87 2 239.99 14 171 100.67 552 566 69,473 5.98 13,349 Eskay Creek 88 22,521 93.02 67,350 25,274 38.15 31,003 98,353 3,750 22.18 2,674 Mountain View 89 — — — — — — — 23,200 2.68 2,000 Total Silver Mineral Resources 298,993 612,284 910,977 560,455 Silver Mineral Reserves Proven Probable Proven and Probable Notes Tonnes 000s Grade g/t Contained 000 oz Tonnes 000s Grade g/t Contained 000 oz Tonnes 000s Grade g/t Contained 000 oz Candelaria 4,77 512,724 1.62 26,773 142,574 2.06 9,426 655,298 1.72 36,199 Antapaccay 78 225,000 1.20 8,681 275,000 1.20 10,610 499,000 1.20 19,290 Antamina 79,80 155,400 8.60 43,086 126,800 11.20 45,464 282,200 9.80 88,252 Condestable 81 20,802 5.28 3,531 7,409 6.89 1,641 28,211 5.70 5,170 Cerro Moro 82 365 593.50 6,964 1,384 342.00 15,215 1,749 394.50 22,180 Salares Norte 83 — — — 20,763 58.40 38,990 20,763 58.40 38,990 Cascabel (Alpala) 84 — — — 558,000 1.65 30,000 558,000 1.65 30,000 Calcatreu 85 — — — — — — — — — Cobre Panama 86 175,000 1.51 8,496 2,760,800 1.36 121,098 2,935,900 1.36 128,810 Fire Creek/Midas 2,87 — — — — — — — — — Eskay Creek 88 17,300 99.00 55,100 12,600 50.00 20,500 29,900 79.00 75,500 Mountain View 89 — — — — — — — — — Total Silver Mineral Reserves 152,631 292,943 444,392 PGM Mineral Resources – Inclusive of Mineral Reserves Measured (M) Indicated (I) (M)+(I) PGM Inferred Mineral Resources Notes Tonnes 000s Grade g/t Contained 000 oz Tonnes 000s Grade g/t Contained 000 oz Contained 000 oz Tonnes 000s Grade g/t Contained 000 oz Stillwater 90 42,600 13.70 18,700 50,400 12.80 20,700 39,400 114,000 12.20 44,800 Sudbury 91 not available not available not available Eagle's Nest 92 5,346 4.79 823 5,643 4.41 800 1,627 10,581 4.29 1,459 Marathon (Sally) 93 — — — 24,801 0.62 494 494 14,019 0.48 218 Pandora 94 22,195 4.81 3,415 147,317 4.60 21,707 25,122 21,220 4.72 3,171 Total PGM Mineral Resources 22,938 43,701 66,643 49,647 PGM Mineral Reserves Proven Probable Proven and Probable Notes Tonnes 000s Grade g/t Contained 000 oz Tonnes 000s Grade g/t Contained 000 oz Tonnes 000s Grade g/t Contained 000 oz Stillwater 90 10,000 13.50 4,300 50,300 13.60 22,000 60,200 13.60 26,300 Sudbury 91 not available not available not available Eagle's Nest 92 5,264 4.65 787 5,867 3.72 702 11,131 4.16 1,489 Marathon (Sally) 93 — — — — — — — — — Pandora 94 2,195 4.20 244 19,756 4.08 2,683 21,951 4.09 2,927 Total PGM Mineral Reserves 5,331 25,385 30,716 Copper Mineral Resources – Inclusive of Mineral Reserves Measured (M) Indicated (I) (M)+(I) Copper Inferred Mineral Resources Notes Tonnes 000s Grade % Contained 000 oz Tonnes 000s Grade % Contained 000 oz Contained Mlbs Tonnes 000s Grade % Contained Mlbs Sossego 1,95 164,100 0.72 2,608 236,800 0.76 3,960 6,591 21,700 0.80 383 Cascabel (Alpala) 96 1,209,800 0.47 12,655 1,980,700 0.27 11,971 24,626 649,100 0.24 3,439 NuevaUnión (Relincho) 1,97 895,400 0.29 5,657 1,440,400 0.33 10,411 16,068 724,700 0.36 5,752 Taca Taca 98 421,500 0.60 5,606 1,781,800 0.39 15,229 20,835 716,900 0.31 4,863 Vizcachitas 99 273,000 0.43 2,605 1,268,000 0.37 10,416 13,021 1,823,000 0.34 13,747 Copper World Project 100 792,000 0.44 7,672 381,000 0.36 3,003 10,597 262,000 0.37 2,125 Robinson 101 317,942 0.47 3,294 40,173 0.34 301 3,553 11,942 0.38 100 Total Copper Mineral Resources 40,097 55,292 95,290 30,409

Additional Information 119 Franco-Nevada Corporation TSX / NYSE: FNV Mineral Resources and Mineral Reserves Mineral Resources and Mineral Reserves Copper Mineral Reserves Proven Probable Proven and Probable Notes Tonnes 000s Grade % Contained 000 oz Tonnes 000s Grade % Contained Mlbs Tonnes 000s Grade % Contained Mlbs Sossego 95 1,500 0.83 27 83,900 0.61 1,128 85,300 0.62 1,166 Cascabel (Alpala) 96 — — — 558,000 0.58 7,187 558,000 0.58 7,187 NuevaUnión (Relincho) 97 576,400 0.34 4,320 977,400 0.36 7,757 1,553,800 0.35 12,078 Taca Taca 98 408,300 0.59 5,295 1,350,200 0.39 11,757 1,758,500 0.44 17,052 Vizcachitas 99 302,000 0.41 2,714 918,000 0.34 6,908 1,220,000 0.36 9,623 Copper World Project 100 — — — — — — — — — Robinson 101 110,513 0.42 1,023 8,860 0.28 55 119,374 0.41 1,078 Total Copper Mineral Reserves 13,380 34,793 48,184 Nickel Mineral Resources – Inclusive of Mineral Reserves Measured (M) Indicated (I) (M)+(I) Nickel Inferred Mineral Resources Notes Tonnes 000s Grade % Contained 000 oz Tonnes 000s Grade % Contained 000 oz Contained Mlbs Tonnes 000s Grade % Contained Mlbs Falcondo 102 40,500 1.42 1,268 31,100 1.53 1,049 2,320 4,900 1.40 151 Eagle's Nest 103 5,346 2.08 245 5,643 — 187 432 10,581 0.98 228 Crawford 104 536,400 0.26 3,108 888,700 0.23 4,564 7,672 670,100 0.23 3,417 Mt Keith 105 136,600 0.54 1,622 67,000 0.52 768 2,390 24,000 0.52 275 Total Nickel Mineral Resources 6,244 6,567 12,814 4,072 Nickel Mineral Reserves Proven Probable Proven and Probable Notes Tonnes 000s Grade % Contained 000 oz Tonnes 000s Grade % Contained 000 oz Tonnes 000s Grade % Contained 000 oz Falcondo 102 44,900 1.28 1,267 26,300 1.36 789 71,200 1.31 2,056 Eagle's Nest 103 5,264 2.02 234 5,867 1.38 178 11,131 1.68 413 Crawford 104 — — — — — — — — — Mt Keith 105 67,600 0.57 847 20,000 0.55 240 87,600 0.56 1,087 Total Nickel Mineral Reserves 2,348 1,207 3,556 Chromite Mineral Resources – Inclusive of Mineral Reserves Measured (M) Indicated (I) Chromite Inferred Mineral Resources Notes Tonnes 000s Grade % Cr203 Tonnes 000s Grade % Cr203 Tonnes 000s Grade % Cr203 Ring of Fire* 106 140,190 32.5 52,570 29.8 54,580 30.8 Total Chromite Mineral Resources 140,190 52,570 54,580 Chromite Mineral Reserves Proven Probable Proven and Probable Notes Tonnes 000s Grade % Cr203 Tonnes 000s Grade % Cr203 Tonnes 000s Grade % Cr203 Ring of Fire* 106 — — — — — — Total Chromite Mineral Reserves — — — Iron Ore Mineral Resources – Inclusive of Mineral Reserves Measured (M) Indicated (I) Iron Ore Inferred Mineral Resources Notes Tonnes 000s Grade % Fe Tonnes 000s Grade % Fe Tonnes 000s Grade % Fe Vale (Northern and Southeastern System) 1,107 7,449,500 54.0 9,700,400 55.0 3,879,500 43.1 LIORC 1,108,109 826,000 39.4 1,105,000 38.6 811,000 38.0 Total Iron Ore Mineral Resources 8,275,500 10,805,400 4,690,500 Iron Ore Mineral Reserves Proven Probable Proven and Probable Notes Tonnes 000s Grade % Fe Tonnes 000s Grade % Fe Tonnes 000s Grade % Fe Vale (Northern and Southeastern System) 107 3,163,100 60.6 5,701,800 60.5 8,864,900 60.5 LIORC 108,109 675,000 39.0 401,000 38.0 1,077,000 38.0 Total Iron Ore Mineral Reserves 3,838,100 6,102,800 9,941,900 * No Mineral Reserve estimate has been reported for the Ring of Fire

120 TSX / NYSE: FNV Franco-Nevada Corporation Mineral Resources and Mineral Reserves Overview Precious Metals Diversified Assets Mineral Resources and Mineral Reserves Notes and Sources All Mineral Resources and Mineral Reserves have been calculated in accordance with CIM or Acceptable Foreign Codes for the purposes of NI 43-101, including Regulation S-K 1300, JORC, or SAMREC guidelines. Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability. Unless otherwise noted, Mineral Resources were reported by the operator inclusive of Mineral Reserves. Contained metal does not take into account recovery losses. Franco-Nevada’s royalties or stream interests may not cover the operator’s entire property or all estimated Mineral Resources and Mineral Reserves or a combination of both. The grade of platinum group elements has been reported by the operators as either the sum of the individual platinum group elements grades or the individual grades. In the cases where individual platinum group element grades have been reported, Franco-Nevada’s Qualified Person has calculated the sum of the platinum group element grades for presentation purposes. Mineral Resources and Mineral Reserves based on publicly disclosed information available as of March 9, 2023. Rows and columns may not add up due to rounding. Inferred Resources are in addition to Measured and Indicated Resources. See “Cautionary Note Regarding Mineral Resource and Mineral Reserve Estimates”. 1 Mineral Resources reported by operator exclusive of Mineral Reserves. Franco-Nevada’s Qualified Person determined the inclusive Mineral Resources by adding the exclusive Measured and Indicated Mineral Resources to the Proven and Probable Reserves 2 Mineral Resources and Mineral Reserves are reported by the operator in non-metric units. Franco- Nevada’s Qualified Person calculated the metric conversion using 1 opt = 34.286 g/t, 1 short ton = 0.9018 metric tonnes, 1 oz = 31.1035 g 3 Lundin Mining Corporation; News Release, February 8, 2023 4 The stream agreement applies to 100% of the property, but only with respect to the ownership interest of Lundin Mining Corporation which indirectly owns 80% of the Candelaria Copper Mining Complex 5 Glencore plc; Resources & Reserves as at December 31, 2022 6 Southern Peaks Mining LP; Mineral Reserves: Email to Franco-Nevada (Barbados) Corporation, February 28, 2023, containing reserve declaration. Mineral Resources: Letter to Franco-Nevada (Barbados) Corporation, March 7, 2023, containing global, in situ, resource estimate 7 Vale S.A.; Form 20-F as filed with the Securities and Exchange Commission on April 14, 2022. Details of Vale’s Participating Debentures are available on Vale’s website 8 Yamana Gold Inc.; Technical Report, August 26, 2022 9 Gold Fields Limited; Mineral Resources and Mineral Reserves Supplement to the Integrated Annual Report 2021 10 SolGold plc; Annual Report 2022, October 26, 2022 11 G Mining Ventures Corp.; Corporate Presentation, February 2023 12 Hochschild Mining PLC; Annual Report & Accounts 2021 13 First Quantum Minerals Ltd.; Amended and Restated Technical Report, March 29, 2021 14 OZ Minerals Limited; ASX Release, December 21, 2022 15 Patagonia Gold Corp.; Investor Presentation, October 2022 16 Coro Mining Corporation; Preliminary Feasibility Study, March 1, 2012 17 Hochschild Mining PLC; Annual Report and Accounts 2021, April 20, 2022 18 First Quantum Minerals Ltd.; Annual Information Form, March 28, 2022 19 Coeur Mining, Inc.; News Release, February 22, 2023 20 Barrick Gold Corporation; Press Release, February 9, 2023. Carlin Trend includes Goldstrike, Gold Quarry and South Arturo as well as other properties where Franco-Nevada has no royalties or stream interests 21 SSR Mining Inc.; Form 8-K, September 29, 2022 22 Kinross Gold Corporation; News Release, February 15, 2023 23 Equinox Gold Corp.; Mineral Reserves & Mineral Resources, October 19, 2022 24 Equinox Gold Corp.; Mineral Reserves & Mineral Resources, October 19, 2022 25 Hecla Mining Company; News Release, February 14, 2023 26 Hecla Mining Company; News Release, February 14, 2023 27 Perpetua Resources Corp., Annual Report, March 18, 2022 28 Gold Bull Resources Corp.; Technical Report, October 27, 2022 29 KGHM Polska Miedź S.A.; Mineral Resources and Reserves Report, December 31, 2014 30 Millennial Precious Metals Corp.; Corporate Presentation, January 2023 31 Agnico Eagle Mines Limited; News Release, February 16, 2023 32 KGHM does not provide updated Mineral Resource and Mineral Reserve estimates. As such, Franco- Nevada has chosen not to display the historical figure moving forward 33 Barrick Gold Corporation; Press Release, February 9, 2023 34 Pretium Resources Inc.; 2021 Brucejack Mine Mineral Resources and Mineral Reserves 35 Agnico Eagle Mines Limited; News Release, February 16, 2023 36 Victoria Gold Corp.; News Release, February 24, 2023 37 Newmont Corporation; News Release, February 23, 2023 38 Pan American Silver Corp.; NI 43-101 Technical Report, June 30, 2021 39 Agnico Eagle Mines Limited; News Release, February 16, 2023 40 Alamos Gold Inc.; News Release, February 21, 2023 41 Agnico Eagle Mines Limited; News Release, February 16, 2023 42 Agnico Eagle Mines Limited; News Release, February 16, 2023 43 Agnico Eagle Mines Limited; News Release, February 16, 2023 44 Argonaut Gold Inc.; Magino Gold Project NI 43-101 Technical Report, March 3, 2022 45 Equinox Gold Corp.; Mineral Reserves & Mineral Resources, October 19, 2022 46 Marathon Gold Corporation; News Release, December 7, 2022 47 Skeena Resources Limited; NI 43-101 Technical Report and Feasibility Study, September 19, 2022 48 Evolution Mining Limited; ASX Announcement, February 16, 2023 49 Seabridge Gold Inc.; Mineral Resources and Mineral Reserves, June 2022 50 Fortune Bay Corp.; Goldfields Project NI 43-101 Technical Report on PEA, October 31, 2022 51 Agnico Eagle Mines Limited; News Release, February 16, 2023 52 Ascot Resources Ltd.; Annual Information Form, March 21, 2022 53 Wallbridge Mining Company Limited; News Release, January 17, 2023 54 Westhaven Gold Corp.; Shovelnose Gold Property NI 43-101 Technical Report, January 19, 2022 55 Regis Resources Limited; ASX Announcement, June 8, 2022 56 Wiluna Mining Corporation Limited; ASX Announcements, April 12, 2022 and November 17, 2021 57 Northern Star Resources Limited; ASX Announcement, May 3, 2022 58 Northern Star Resources Limited; ASX Announcement, May 3, 2022 59 St Barbara Limited; 2022 Annual Report, September 16, 2022 60 Matsa Resources Ltd.; Annual Report, October 12, 2022 and AngloGold Ashanti Limited; Mineral Resource and Ore Reserve Report as at December 31, 2021 61 Catalyst Metals Limited; ASX Announcement, November 10, 2022 62 Norton Gold Fields Limited; Corporate Website, January 25, 2023 63 Ramelius Resources Limited; ASX Release, September 13, 2022 64 Ramelius Resources Limited; ASX Release, September 13, 2022 65 Gascoyne Resources Limited; Corporate AGM Presentation, January 20, 2022 66 Harmony Gold Mining Company Limited; Mineral Resources and Mineral Reserves Report, June 30, 2022 67 Endeavour Mining Corp.; News Release, March 9, 2023 68 Kinross Gold Corporation; News Release, February 15, 2023 69 Newmont Corporation; News Release, February 23, 2023 70 Endeavour Mining Corp.; Annual Information Form, March 31, 2021 71 Perseus Mining Limited; News Release, August 30, 2022 72 Ariana Resources plc; News Release, February 1, 2022 73 Fortuna Silver Mines Inc.; News Releases, March 17, 2022 and December 05, 2022 74 Eldorado Gold Corporation; News Release, December 5, 2022 75 Alamos Gold Inc.; News Release, February 21, 2023 76 Perseus Mining Limited; News Release, August 30, 2022 77 Lundin Mining Corporation; News Release, February 8, 2023 78 Glencore plc; Resources & Reserves as at December 31, 2022 79 Teck Resources Limited; Annual Information Form, February 21, 2023 80 The stream agreement applies to 100% of the property, but only with respect to the ownership interest of Teck Resources Limited which indirectly owns a 22.5% interest in Compañía Minera Antamina S.A. 81 Southern Peaks Mining LP; Mineral Reserves: Email to Franco-Nevada (Barbados) Corporation, February 28, 2023, containing reserve declaration. Mineral Resources: Letter to Franco-Nevada (Barbados) Corporation, March 7, 2023, containing global, in situ, resource estimate 82 Yamana Gold Inc.; Technical Report, August 26, 2022 83 Gold Fields Limited; Mineral Resources and Mineral Reserves Supplement to the Integrated Annual Report 2021 84 SolGold plc; Annual Report 2022, October 26, 2022 85 Patagonia Gold Corp.; Investor Presentation, October 2022 86 First Quantum Minerals Ltd.; Annual Information Form, March 28, 2022 87 Hecla Mining Company; News Release, February 14, 2023 88 Skeena Resources Limited; NI 43-101 Technical Report and Feasibility Study, September 19, 2022 89 Millennial Precious Metals Corp.; Corporate Presentation, January 2023 90 Sibanye Stillwater Limited; Market Release, February 17, 2023 91 KGHM does not provide updated Mineral Resource and Mineral Reserve estimates. As such, Franco- Nevada has chosen not to display the historical figure moving forward 92 Noront Resources Ltd.; NI 43-101 Technical Report Feasibility Study, September 4, 2012 93 Generation Mining Limited; Corporate Presentation, June 2022 94 Lonmin plc; Mineral Resource and Mineral Reserve Statement 2017 95 Vale S.A.; Form 20-F as filed with the Securities and Exchange Commission on April 14, 2022. Details of Vale’s Participating Debentures are available on Vale’s website 96 SolGold plc; Annual Report 2022, October 26, 2022 97 Teck Resources Limited; Annual Information Form, February 21, 2023 98 First Quantum Minerals Ltd.; Amended and Restated Technical Report, March 29, 2021 99 Los Andes Copper Ltd.; News Release, February 23, 2023 100 Hudbay Minerals Inc.; News Release, June 8, 2022 101 KGHM Polska Miedź S.A.; Mineral Resources and Reserves Report, December 31, 2014 102 Glencore plc; Resources & Reserves as at December 31, 2014 103 Noront Resources Ltd.; NI 43-101 Technical Report Feasibility Study, September 4, 2012 104 Canada Nickel Company Inc.; Corporate Presentation, February 2023 105 BHP Group Limited; Annual Report 2022 106 Noront Resources Ltd.; Corporate Website, March 7, 2022 107 Vale S.A.; Form 20-F as filed with the Securities and Exchange Commission on April 14, 2022. Details of Vale’s Participating Debentures are available on Vale’s website 108 Labrador Iron Ore Royalty Corporation; Annual Information Form, March 7, 2023 109 Franco-Nevada holds a 9.9% equity interest in Labrador Iron Ore Royalty Corporation (“LIORC”). LIORC, directly and through its wholly-owned subsidiary, owns a 15.1% equity interest in Iron Ore Company of Canada and receives a 7% gross overriding royalty on the operation and also receives a C$0.10/t commission on sales of iron ore

Additional Information Additional Information

122 TSX / NYSE: FNV Franco-Nevada Corporation Overview Precious Metals Diversified Assets Mineral Resources and Mineral Reserves Additional Information 122 TSX / NYSE: FNV Franco-Nevada Corporation Additional Information Acreage of Assets Asset Counts Franco-Nevada’s assets are categorized by commodity and stage of development. By commodity, assets are characterized as “Precious Metals” or “Diversified”. “Precious Metals” includes gold, silver and PGM assets. “Diversified” includes iron ore, other mining and energy assets (which encompass oil, gas and natural gas liquids). “Producing” assets are those that have generated revenue from steady-state operations for Franco- Nevada or are expected to in the next year. “Advanced” assets are interests on projects which are not yet producing but where, in management’s view, the technical feasibility and commercial viability of extracting a mineral resource are demonstrable. “Exploration” assets represent interests on projects where technical feasibility and commercial viability of extracting a mineral resource are not demonstrable. Management uses the following criteria in its assessment of technical feasibility and commercial viability: (i) Geology: there is a known mineral deposit which contains Mineral Resources or Mineral Reserves; or the project is adjacent to a mineral deposit that is already being mined or developed and there is sufficient geologic certainty of converting the deposit into Mineral Resources or Mineral Reserves. (ii) Accessibility and authorization: there are no significant unresolved issues impacting the accessibility and authorization to develop or mine the mineral deposit, and social, environmental and governmental permits and approvals to develop or mine the mineral deposit appear obtainable. For accounting purposes, the number of assets has been counted in different manners depending on the category. Royalties on a producing or advanced property are generally counted as a single asset even if Franco-Nevada has multiple different royalties on the property, such as at the Goldstrike complex. Streams covering a group of mines in close proximity and operated by a common operator, such as the Sudbury streams, have also been counted as one asset. However, royalties and streams on producing properties that have significant co-products have been counted twice, such as the Robinson royalties for gold and copper or the Sudbury streams for gold and PGM. Exploration royalties are simply counted by the number of royalty contracts and no effort has been made to consolidate royalties on the same property. Franco-Nevada’s energy interests are subdivided into Producing Assets, which are assets that are currently producing oil or natural gas, or Exploration Assets, which are undeveloped assets that are not producing oil or natural gas. Franco- Nevada’s energy interests consist of a variety of working interests and royalty interests which are derived from a large number of underlying leases, contractual agreements and mineral title covering land positions primarily in western Canada and Oklahoma, North Dakota, Pennsylvania and Texas in the United States. For accounting purposes, these leases, contracts and mineral title have been grouped into distinct land areas and tabulated as individual assets. In many cases, Franco-Nevada owns multiple royalties or working interests that pertain to the same land area, and in these circumstances, the interests are counted as a single asset. As of April 12, 2023, Franco-Nevada estimates that it holds 230 precious metals assets and 189 diversified assets for a total of 419 assets. Franco-Nevada Asset Counts at April 12, 2023 Precious Metals Diversified Total Producing 44 69 1 113 Advanced 38 7 45 Exploration 148 113 2 261 Total 230 189 419 1 14 Mining Assets / 55 Energy Assets 2 86 Mining Assets / 27 Energy Assets The following is a tabulation of the acreage of Precious Metals and Diversified lands subject to Franco Nevada’s royalty, stream or other interests as at March 31, 2023. Acreage amounts are approximate or estimated and are compiled from information contained in asset agreements and updated when possible using various sources including government recording offices, operator information such as technical reports, presentations and other sources. Acreage has been converted into standard measure by Franco-Nevada. Franco-Nevada Acreage Tabulation (1) Producing Advanced Exploration Total Precious Metals South America 471,393 359,687 374,800 1,205,880 Central America and Mexico 63,763 – 675 64,438 United States 105,561 73,919 141,668 321,148 Canada 123,347 269,833 914,834 1,308,014 Australia 1,282,912 330,633 814,233 2,427,778 Rest of World 1,676,132 108,965 52,863 1,837,960 Total 3,723,108 1,143,037 2,299,073 7,165,218 Diversified – Iron Ore and Other Mining South America 731,714 54,516 3,136,384 3,922,614 Central America and Mexico 6,605 59,552 – 66,157 United States 29,234 14,900 18,826 62,960 Canada 44,973 494 373,611 419,078 Australia 173,438 51,445 950,068 1,174,951 Rest of World – – 265,842 265,842 Total 985,964 180,907 4,744,731 5,911,602 Diversified – Energy (2) United States 2,262,147 – 53,994 2,316,141 Canada 615,043 – 313,552 928,595 Total 2,877,190 – 367,546 3,244,736 Total Estimated Acreage 16,321,556 Total km 2 66,051 (1) Represents management’s best available information as at March 31, 2023. (2) Gross Acreage. Additional Information Additional Information

123 Franco-Nevada Corporation TSX / NYSE: FNV Additional Information Mine Life Index Franco-Nevada’s asset portfolio is comprised of a large variety of properties and operations with a range of projected production profiles. The chart (opposite) provides an estimated mine life index for some of the producing and advanced assets with published Mineral Resource and Mineral Reserve estimates. For each asset, management has estimated a mine life index by dividing the Proven and Probable Mineral Reserves as well as the Measured and Indicated Mineral Resources (inclusive of Mineral Reserves) by management’s best estimate of the average annual forward looking production. Franco-Nevada has not included any Inferred Mineral Resources in the analysis. This metric is to provide investors and analysts with an indication of the potential for the assets in which Franco - Nevada has interests and should not be viewed as a definitive mine life estimate. In an effort to provide a more accurate picture for the mine life index of the overall portfolio, Franco-Nevada has divided its total M&I Royalty Ounces (inclusive of Mineral Reserves) by the midpoint of its 2023 Precious Metal and Diversified Mining production guidance. The average mine life index of the mining portfolio using this methodology is approximately 34 years. We do not have published reserves for our Energy assets and have not included them in this analysis. Nonetheless, our significant producing energy assets in Canada and the U.S. have long lives and are expected to generate revenue to Franco-Nevada for several decades. Mine Life Based on P&P 1 Based on M&I 1 (inclusive of P&P) Precious Metals – South America Candelaria Antapaccay Antamina Cerro Moro Salares Norte Precious Metals – Central America and Mexico Cobre Panama Guadalupe-Palmarejo Precious Metals – United States Stillwater Carlin Trend 2 Marigold Bald Mountain Mesquite Castle Mountain Stibnite Gold Precious Metals – Canada Detour Lake Hemlo Brucejack Kirkland Lake Dublin Gulch (Eagle) Musselwhite Timmins West Canadian Malartic Island Gold Greenstone Valentine Gold Precious Metals – Rest of World MWS Sabodala-Massawa Complex Tasiast Subika (Ahafo) Duketon Edikan Diversified Vale (Northern and Southeastern System) 3 LIORC 4 Years 1 Mineral Resources and Mineral Reserves used in the Mine Life Index calculation are based on publicly disclosed information as of March 9, 2023 2 Mineral Resources and Mineral Reserves used for Carlin Trend in the Mine Life Index reflect Franco- Nevada management’s best estimate of Goldstrike, Gold Quarry and South Arturo only 3 Mine life as disclosed by Vale S.A in their latest 20-F and exhibits. Mine life represents longest disclosed mine life 4 Mine life as disclosed by LIORC in their most recent annual report, based on Mineral Resources and Mineral Reserves only 5 – 15 10 20

124 TSX / NYSE: FNV Franco-Nevada Corporation Additional Information Overview Precious Metals Diversified Assets Mineral Resources and Mineral Reserves Additional Information Board of Directors David Harquail David Harquail is Chair of the Board. Mr. Harquail was the founding CEO of the Corporation. Prior to his appointment as Chair in May 2020, Mr. Harquail served as the Corporation’s CEO for more than 13 years since its initial public offering in 2007. He serves as a director of the Bank of Montreal, as a governor of Laurentian University in Sudbury, as a director of the Prospectors & Developers Association of Canada and is a past director and former Chair (2017-2020) of the World Gold Council. He has also held senior executive roles and served as a director of numerous public mining companies and has been actively involved in industry organizations. Mr. Harquail holds a B.A.Sc. in Geological Engineering from the University of Toronto, an MBA from McGill University and is a registered Professional Engineer in Ontario. He is also a major benefactor of the School of Earth Sciences and its Mineral Exploration Research Centre (MERC) at Laurentian University as well as the Centre for Neuromodulation at Sunnybrook Health Sciences in Toronto. Paul Brink Paul Brink is President & CEO and a director of Franco-Nevada. Prior to his appointment as CEO, Mr. Brink served as President & Chief Operating Officer of Franco-Nevada from May 2018 to May 2020. He has been with Franco - Nevada since its initial public offering in 2007 and successfully led its business development activities as SVP, Business Development from 2008 until his promotion to President & Chief Operating Officer in 2018. Mr. Brink is active with a number of not-for-profit organizations. He previously had roles in corporate development at Newmont, investment banking at BMO Nesbitt Burns and project financing at UBS. Mr. Brink holds a Bachelor’s degree in Mechanical Engineering from the University of Witwatersrand and a Master’s degree in Management Studies from Oxford University. Tom Albanese Tom Albanese is a director of Franco - Nevada. He served as CEO of Vedanta Resources plc (2014 to 2017), CEO of Vedanta Limited (2014 to 2017) and was CEO of Rio Tinto PLC and Rio Tinto Limited (2007 to 2013). Mr. Albanese is also a director of CoTec Holdings Corp. and is a director and Chair of the Committee of Independent Directors of Nevada Copper Corp. He previously served on the boards of Vedanta Resources plc, Vedanta Limited, Rio Tinto PLC, Rio Tinto Limited, Ivanhoe Mines Limited, Palabora Mining Company and Turquoise Hill Resources Limited. Mr. Albanese holds a Master’s of Science degree in Mining Engineering and a Bachelor of Science degree in Mineral Economics both from the University of Alaska Fairbanks. Derek Evans Derek Evans is President & CEO of MEG Energy Corp. and is a director of Franco - Nevada. He served as President and CEO and a director of Pengrowth Energy Corporation from 2009 until March 15, 2018. Mr. Evans has over 41 years of experience in a variety of operational and senior executive positions in the oil and gas business in Western Canada. Mr. Evans is also active in not-for-profit organizations and is a board member of MaRS (an innovation hub). Mr. Evans holds a Bachelor of Science degree in Mining Engineering from Queen’s University and is a registered Professional Engineer in Alberta. Mr. Evans is also a member of the Institute of Corporate Directors. Dr. Catharine Farrow Catharine Farrow is a director of Franco-Nevada. She is a licensed professional geoscientist (P.Geo.) with Professional Geoscientists Ontario (PGO) and has more than 30 years of mining industry experience. She also serves as a director of Centamin plc and of Eldorado Gold Corporation and is lead director of Aclara Resources Inc. She is also active in the mining industry in both private companies and academia. From 2012 to 2017, she was Founding CEO, Director and Co-Founder of TMAC Resources Inc. Dr. Farrow has served on the board of a number of not-for-profit and government Advisory Boards. She has been honoured as one of the 100 Global Inspirational Women in Mining (2015 and 2018) and is a past recipient of the William Harvey Gross Medal of the Geological Association of Canada (2000) and the Distinguished Alumni Award from the Acadia Alumni Association (2020). Dr. Farrow obtained her BSc (Hons) from Mount Allison University, her MSc from Acadia University and her PhD from Carleton University. She also holds the ICD.D designation. Louis Gignac 1 Louis Gignac is Chair of G Mining Ventures Corp. (a public mining exploration and development company) and of G Mining Services Inc. (a private consultancy) and is a director of Franco-Nevada. Mr. Gignac previously served as President, CEO and a director of Cambior Inc., from 1986 to 2006, and previously held management positions with Falconbridge Copper Company and Exxon Minerals Company and has served as a director of several public companies. Mr. Gignac is a member of the Ordre des ingénieurs du Québec. Mr. Gignac holds a Doctorate of Engineering in Mining Engineering from the University of Missouri Rolla, a Master’s degree in Mineral Engineering from the University of Minnesota, and a Bachelor of Science degree in Mining Engineering from Laval University. He also holds the ICD.D designation. Mr. Gignac was inducted into the Canadian Mining Hall of Fame in 2016.

125 Franco-Nevada Corporation TSX / NYSE: FNV Additional Information Maureen Jensen Maureen Jensen is a director of Franco - Nevada. She served as Chair and Chief Executive Officer of the Ontario Securities Commission (the “OSC”) from 2016 until April 2020 and was previously the Executive Director and Chief Administrative Officer of the OSC from 2011 to 2016. Before joining the OSC, Ms. Jensen was Senior Vice-President, Surveillance and Compliance at the Investment Industry Regulatory Organization of Canada. Ms. Jensen has held senior regulatory and business positions at the Toronto Stock Exchange and had a 20-year career in the mining industry. Ms. Jensen is Chair of Canada’s Ombudsman for Banking Services and Investments, is a director of the NEO Exchange, and is also active in other not-for-profit organizations including as Chair of The Prosperity Project and as a Public Governor of FINRA in the United States. In 2022, Ms. Jensen was inducted into the Canadian Mining Hall of Fame. Ms. Jensen is a licensed professional geoscientist (P.Geo.) with Professional Geoscientists Ontario (PGO), holds the ICD.D and GCB.D designations, has a BSc, Doctor of Laws (Honoris Causa) and is a member of the Investment Industry Hall of Fame. Jennifer Maki Jennifer Maki is a director of Franco - Nevada. She is also a director of Baytex Energy Corp. and Pan American Silver Corp. She previously served as Chief Executive Officer of Vale Canada and Executive Director of Vale Base Metals (2014 to 2017) and previously held several other positions with Vale Base Metals, including Chief Financial Officer & Executive Vice-President and Vice-President & Treasurer. She has also served on the boards of not-for-profit organizations. Ms. Maki has a Bachelor of Commerce degree from Queen’s University and a postgraduate diploma from the Institute of Chartered Accountants, both in Ontario, Canada. She also holds the ICD.D designation. Randall Oliphant Randall Oliphant is a director of Franco - Nevada. He has worked in natural resources in many capacities for over 31 years. From 1999 to 2003, Mr. Oliphant was the President and Chief Executive Officer of Barrick Gold Corporation and since that time he has served on the boards of numerous public companies and not-for-profit organizations. He served as Executive Chairman of New Gold Inc. from 2009 to 2017. Mr. Oliphant presently serves on the advisory board of Metalmark Capital LLC, a leading private equity firm. Mr. Oliphant also served as Chairman of the World Gold Council from 2013 to 2017. Mr. Oliphant is a CPA, CA and was granted the designation of FCPA in 2016 in recognition of his outstanding contribution to his profession. Jacques Perron 2 Jacques Perron is a director of Franco - Nevada . Mr. Perron has over 35 years of experience in the mining industry and has extensive technical and operations experience. He currently serves as a director of Centerra Gold Inc. Previously, Mr. Perron was President and Chief Executive Officer at a number of mining companies including Pretium Resources Inc., Thompson Creek Metals Company Inc. and St Andrew Goldfields Ltd. and has held senior executive roles at a number of other mining companies prior thereto. Mr. Perron is also the Chair of the Canadian Mineral Industry Education Foundation. Mr. Perron has a Bachelor of Science degree in Mining Engineering from l’École Polytechnique de Montréal. Elliott Pew 1 Elliott Pew is a director of Franco - Nevada. He has over 41 years of diverse experience in the oil and gas industry. Previously, Mr. Pew served as Board Chair and a Member of the Audit and Risk Committee of Enerplus Corporation, as a director of Southwestern Energy Company, and as co-founder, executive and member of the board of managers of Common Resources I, II and III (private E&P). Prior to that, Mr. Pew held senior executive positions with Newfield Exploration Company in Houston and was Senior Vice President, Exploration of American Exploration Company. He holds an M.A. in Geology from the University of Texas at Austin and an A.B. in Geology from Franklin and Marshall College and is a member of the ICD and NACD. 1 Messrs. Gignac and Pew are not standing for re-election at the 2023 Annual and Special Meeting of Shareholders 2 Mr. Perron was appointed to the Board on November 7, 2022 and will be standing for election as a first-time nominee at the 2023 Annual and Special Meeting of Shareholders

126 TSX / NYSE: FNV Franco-Nevada Corporation Additional Information Overview Precious Metals Diversified Assets Mineral Resources and Mineral Reserves Additional Information Executives Paul Brink, President & CEO Paul Brink is President & CEO and a director of Franco-Nevada. Prior to his appointment as CEO, Mr. Brink served as President & Chief Operating Officer of Franco-Nevada from May 2018 to May 2020. He has been with Franco- Nevada since its initial public offering in 2007 and successfully led its business development activities as SVP, Business Development from 2008 until his promotion to President & Chief Operating Officer in 2018. Mr. Brink is active with a number of not-for-profit organizations. He previously had roles in corporate development at Newmont, investment banking at BMO Nesbitt Burns and project financing at UBS. Mr. Brink holds a Bachelor’s degree in Mechanical Engineering from the University of Witwatersrand and a Master’s degree in Management Studies from Oxford University. Sandip Rana, Chief Financial Officer Sandip Rana, Chief Financial Officer, joined Franco-Nevada in April 2010. He previously served in treasurer and controller roles at old Franco-Nevada until 2002 and then acted as an international controller for Newmont. From 2003 to April 2010, Mr. Rana held financial roles at Four Seasons Hotels Limited where he last served as Vice-President Corporate Finance. Mr. Rana holds a Bachelor of Business Administration degree from the Schulich School of Business and is a Chartered Professional Accountant, CA. In February 2019, Mr. Rana was recognized as a Top Gun CFO by Brendan Wood International. Lloyd Hong, Chief Legal Officer & Corporate Secretary Lloyd Hong, Chief Legal Officer & Corporate Secretary, joined Franco-Nevada in December 2012. He previously was the Senior Vice‐ President, Legal Counsel and Assistant Secretary of Uranium One Inc. Prior to that, he was a partner with the Canadian law firm of Davis LLP (now DLA Piper (Canada) LLP) with a practice focused on corporate finance and mergers and acquisitions. Mr. Hong holds a Bachelor of Commerce degree from the University of Alberta and a Bachelor of Laws degree from Queen’s University. Mr. Hong is a member of The Law Society of Ontario and The Law Society of British Columbia (non-practising). Eaun Gray, Senior Vice President, Business Development Eaun Gray, Senior Vice President, Business Development, heads Franco-Nevada’s mining business development group. Mr. Gray was previously a Vice President at Rothschild & Co where he advised on mergers and acquisitions and debt and stream transactions. Prior to that, Mr. Gray worked for CIBC in investment and corporate banking. Mr. Gray completed a Master of Business Administration degree at the Tuck School at Dartmouth College (Edward Tuck Scholar), is a CFA Charterholder and received a Bachelor of Commerce from Queen’s University (First Class Honours). Jason O’Connell, Senior Vice President, Diversified Jason O’Connell, Senior Vice President, Diversified, has been with Franco-Nevada since 2008. His role includes leading business development activities for diversified mining and energy opportunities and managing the Corporation’s Energy portfolio. Mr. O’Connell led the growth of the Corporation’s US Energy portfolio and, prior to that, held roles in the business development group and managed investor relations. Prior to joining Franco-Nevada, he worked in mining equity research with the Bank of Montreal. Mr. O’Connell holds a Master of Business Administration degree from Dalhousie University and Bachelor of Science degree with honours in Geology from Acadia University.

127 Franco-Nevada Corporation TSX / NYSE: FNV Additional Information Corporate Organization Franco-Nevada Corporation (Canada) Franco-Nevada Australia Pty Ltd (Australia) Franco-Nevada U.S. Corporation (Delaware) Franco-Nevada (Barbados) Corporation (Barbados) Franco-Nevada Delaware LLC (Delaware) 100% 100% 100% 100% Immaterial subsidiaries and intermediate holding companies omitted

128 TSX / NYSE: FNV Franco-Nevada Corporation Additional Information Overview Precious Metals Diversified Assets Mineral Resources and Mineral Reserves Additional Information Non-GAAP Financial Measures Adjusted EBITDA and Adjusted EBITDA per Share Adjusted EBITDA and Adjusted EBITDA per share are non-GAAP financial measures, which is defined by Franco-Nevada by excluding the following from net income (loss) and earnings (loss) per share (“EPS”): • Income tax expense/recovery; • Finance expenses; • Finance income; • Depletion and depreciation; • Impairment charges and reversals related to royalty, stream and working interests; • Impairment of investments; • Gains/losses on sale of royalty, stream and working interests; • Gains/losses on investments; • Foreign exchange gains/losses and other income/expenses; and • Unusual non-recurring items. Management uses Adjusted EBITDA and Adjusted EBITDA per share to evaluate the underlying operating performance of Franco-Nevada as a whole for the reporting periods presented, to assist with the planning and forecasting of future operating results, and to supplement information in its financial statements. Management believes that in addition to measures prepared in accordance with IFRS such as net income and EPS, our investors and analysts use Adjusted EBITDA and Adjusted EBITDA per share to evaluate the results of the underlying business of Franco-Nevada, particularly since the excluded items are typically not included in our guidance, with the exception of depletion and depreciation expense. While the adjustments to net income and EPS in these measures include items that are both recurring and non-recurring, management believes that Adjusted EBITDA and Adjusted EBITDA per share are useful measures of Franco-Nevada’s performance because they adjust for items which may not relate to or have a disproportionate effect on the period in which they are recognized, impact the comparability of our core operating results from period to period, are not always reflective of the underlying operating performance of our business and/or are not necessarily indicative of future operating results. Adjusted EBITDA and Adjusted EBITDA per share are only intended to provide additional information to investors and analysts and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. They do not have any standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. Reconciliation of Net Income to Adjusted EBITDA For the year ended December 31, (expressed in millions, except per share amounts) 2022 2021 Net income $ 700.6 $ 733.7 Income tax expense 133.1 124.1 Finance expenses 3.2 3.6 Finance income (12.6) (3.7) Depletion and depreciation 286.2 299.6 Impairment reversals – (68.0) Foreign exchange (gain) loss and other (income) expenses (3.6) 3.0 Adjusted EBITDA $ 1,106.9 $ 1,092.3 Basic weighted average shares outstanding 191.5 191.1 Basic earnings per share $ 3.66 $ 3.84 Income tax expense 0.70 0.65 Finance expenses 0.02 0.02 Finance income (0.07) (0.02) Depletion and depreciation 1.49 1.57 Impairment reversals – (0.36) Foreign exchange (gain) loss and other (income) expenses (0.02) 0.02 Adjusted EBITDA per share $ 5.78 $ 5.72

129 Franco-Nevada Corporation TSX / NYSE: FNV Additional Information Adjusted Net Income and Adjusted Net Income per Share Adjusted Net Income and Adjusted Net Income per share are non-GAAP financial measures, which is defined by Franco-Nevada by excluding the following from net income (loss) and EPS: • Foreign exchange gains/losses and other income/expenses; • Impairment charges and reversals related to royalty, stream and working interests; • Impairment of investments; • Gains/losses on sale of royalty, stream and working interests; • Gains/losses on investments; • Unusual non-recurring items; and • Impact of income taxes on these items. Management uses Adjusted Net Income and Adjusted Net Income per share to evaluate the underlying operating performance of Franco- Nevada as a whole for the reporting periods presented, to assist with the planning and forecasting of future operating results, and to supplement information in its financial statements. Management believes that in addition to measures prepared in accordance with IFRS such as net income and EPS, our investors and analysts use Adjusted Net Income and Adjusted Net Income per share to evaluate the results of the underlying business of Franco-Nevada, particularly since the excluded items are typically not included in our guidance. While the adjustments to net income and EPS in these measures include items that are both recurring and non-recurring, management believes that Adjusted Net Income and Adjusted Net Income per share are useful measures of Franco- Nevada’s performance because they adjust for items which may not relate to or have a disproportionate effect on the period in which they are recognized, impact the comparability of our core operating results from period to period, are not always reflective of the underlying operating performance of our business and/or are not necessarily indicative of future operating results. Adjusted Net Income and Adjusted Net Income per share are intended to provide additional information to investors and analysts and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. They do not have any standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. Reconciliation of Net Income to Adjusted Net Income For the year ended December 31, (expressed in millions, except per share amounts) 2022 2021 Net income $ 700.6 $ 733.7 Impairment reversals – (68.0) Foreign exchange (gain) loss and other (income) expenses (3.6) 3.0 Finance income related to repayment of Noront loan (2.2) – Tax effect of adjustments 2.8 17.8 Other tax related adjustments – Recognition of previously unrecognized deferred tax assets – (12.9) Adjusted Net Income $ 697.6 $ 673.6 Basic weighted average shares outstanding 191.5 191.1 Basic earnings per share $ 3.66 $ 3.84 Impairment reversals – (0.36) Foreign exchange (gain) loss and other (income) expenses (0.02) 0.02 Finance income related to repayment of Noront loan (0.01) – Tax effect of adjustments 0.01 0.09 Other tax related adjustments – Recognition of previously unrecognized deferred tax assets – (0.07) Adjusted Net Income per share $ 3.64 $ 3.52

130 TSX / NYSE: FNV Franco-Nevada Corporation Additional Information Overview Precious Metals Diversified Assets Mineral Resources and Mineral Reserves Additional Information Technical and Third-Party Information Franco-Nevada considers its stream interests in the Candelaria mine and the Cobre Panama mine to be its only material mining projects for the purposes of NI 43-101. Franco-Nevada will continue to assess the materiality of its assets as new assets are acquired or move into production. Except where otherwise stated, the disclosure in this Asset Handbook relating to properties and operations on the properties on which Franco-Nevada holds royalty, stream or other interests is based on information publicly disclosed by the owners or operators of these properties and information/data available in the public domain as at March 9, 2023 (except where stated otherwise), and none of this information has been independently verified by Franco-Nevada. Specifically, as a royalty or stream holder, Franco-Nevada has limited, if any, access to properties included in its asset portfolio. Additionally, Franco-Nevada may from time to time receive operating information from the owners and operators of the properties, which it is not permitted to disclose to the public. Franco-Nevada is dependent on the operators of the properties and their qualified persons to provide information to Franco-Nevada or on publicly available information to prepare disclosure pertaining to properties and operations on the properties on which Franco-Nevada holds royalty, stream or other interests and generally has limited or no ability to independently verify such information. Although Franco-Nevada does not have any knowledge that such information may not be accurate, there can be no assurance that such third-party information is complete or accurate. Some information publicly reported by operators may relate to a larger property than the area covered by Franco-Nevada’s royalty, stream or other interest. Franco-Nevada’s royalty, stream or other interests often cover less than 100% and sometimes only a portion of the publicly reported Mineral Resource, Mineral Reserve and production of a property. Reconciliation to CIM Definitions In this Asset Handbook, Franco-Nevada has disclosed a number of Mineral Resource and Mineral Reserve estimates covering properties related to the mining assets that are not based on Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) definitions, but instead have been prepared in reliance upon other comparable international reporting codes, including JORC (Australia), SAMREC (South Africa) and Regulation S-K 1300 (collectively, the “Acceptable Foreign Codes”). Similar to the CIM, reporting standards adopted by these Acceptable Foreign Codes are all compliant with the international Mineral Resource and Mineral Reserve Guidelines defined by the Committee for Mineral Reserves International Reporting Standards (“CRIRSCO”). In each case, the Mineral Resources and Mineral Reserves reported in this Asset Handbook are based on estimates previously disclosed by the relevant property owner or operator, without reference to the underlying data used to calculate the estimates. Accordingly, Franco-Nevada is unable to reconcile the Mineral Resource and Mineral Reserve estimates prepared in reliance with the Acceptable Foreign Codes with that of CIM definitions. Franco-Nevada sought confirmation from one of its technical advisory firms, that is comprised of engineers experienced in the preparation of Mineral Resource and Mineral Reserve estimates using CIM and each of the Acceptable Foreign Codes, of the extent to which an estimate prepared under an Acceptable Foreign Code would differ from that prepared under CIM definitions. Franco-Nevada was advised that CIM are largely comparable to those of the Acceptable Foreign Codes, the Mineral Resource and Mineral Reserve definitions and categories are substantively the same as the CIM definitions mandated in NI 43-101 and will typically result in reporting of substantially similar Mineral Resource and Mineral Reserve estimates. Such advisors further confirmed, without reference to the procedures in which the estimates prepared using Acceptable Foreign Codes that are reproduced in this Asset Handbook were conducted, that in the course of their preparation of a Mineral Resource or Mineral Reserve estimate they would effectively use the same procedures to prepare and report the Mineral Resource or Mineral Reserve estimate regardless of the reliance on CIM or any of the Acceptable Foreign Codes. Mineral Resource and Mineral Reserve Estimates This Asset Handbook has been prepared in accordance with the requirements of Canadian securities laws in effect in Canada, which differ from the requirements of U.S. securities laws. Unless otherwise indicated, all Mineral Resource and Mineral Reserve estimates included in this Asset Handbook have been prepared by the owners or operators of the relevant properties (as and to the extent indicated by them) in accordance with NI 43-101 and the Canadian Institute of Mining and Metallurgy Classification System. NI 43-101 is a rule developed by the Canadian securities regulatory authorities which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. NI 43-101 permits a historical estimate made prior to the adoption of NI 43-101 that does not comply with NI 43-101 to be disclosed using the historical terminology if, among other things, the disclosure: (a) identifies the source and date of the historical estimate; (b) comments on the relevance and reliability of the historical estimate; (c) states whether the historical estimate uses categories other than those prescribed by NI 43-101; and (d) includes any more recent estimates or data available. Mining disclosure under U.S. securities law was previously required to comply with SEC Industry Guide 7 (“SEC Industry Guide 7”) under the United States Securities Exchange Act of 1934, as amended. The SEC has adopted rules to replace SEC Industry Guide 7 with new mining disclosure rules under sub-part 1300 of Regulation S-K of the U.S. Securities Act of 1933 (“Regulation S-K 1300”), which became mandatory for U.S. reporting companies beginning with the first fiscal year commencing on or after January 1, 2021. Under Regulation S-K 1300, the SEC now recognizes estimates of “Measured Mineral Resources”, “Indicated Mineral Resources” and “Inferred Mineral Resources”. In addition, the SEC has amended its definitions of “Proven Mineral Reserves” and “Probable Mineral Reserves” to be substantially similar to international standards. Readers are cautioned that despite efforts to harmonize U.S. mining disclosure rules with NI 43-101 and other international requirements, there are differences between the terms and definitions used in Regulation S-K 1300 and mining terms defined in the Canadian Institute of Mining, Metallurgy and Petroleum Standards, which definitions have been adopted by NI 43 - 101, and there is no assurance that any Mineral Resources or Mineral Reserves that an owner or operator may report as “Measured Mineral Resources”, “Indicated Mineral Resources”, “Inferred Mineral Resources”, “Proven Mineral Reserves” and “Probable Mineral Reserves” under NI 43-101 would be the same had the owner or operator prepared the Mineral Resource and Mineral Reserve estimates under the standards of Regulation S-K 1300. In addition to NI 43-101, a number of Mineral Resource and Mineral Reserve estimates have been prepared in accordance with the JORC Code or the SAMREC Code (as such terms are defined in NI 43-101), which differ from the requirements of NI 43-101 and U.S. securities laws. Accordingly, information containing descriptions of the Corporation’s mineral properties set forth herein may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements under the U.S. federal securities laws and the rules and regulations thereunder. For more information, see “Reconciliation to CIM Definitions”. Oil and Gas Information Advisory In this Asset Handbook, certain natural gas volumes have been converted to barrels of oil equivalent on the basis of six Mcf to one bbl. Boe and mboe may be misleading, particularly if used in isolation. A conversion ratio of six Mcf to one bbl is based on an energy equivalency ratio and does not represent a value equivalency. Amri Sinuhaji, Vice President, Mining of Franco-Nevada is the qualified person that approved the scientific or technical information contained in this Asset Handbook related to mineral projects that are material (for purposes of NI 43-101) to Franco-Nevada.

131 Franco-Nevada Corporation TSX / NYSE: FNV Additional Information Forward Looking Information This Asset Handbook contains “forward looking information” and “forward looking statements” within the meaning of applicable Canadian securities laws and the United States Private Securities Litigation Reform Act of 1995, respectively, which may include, but are not limited to, statements with respect to future events or future performance, management’s expectations regarding Franco-Nevada’s growth, results of operations, estimated future revenues, performance guidance, carrying value of assets, future dividends and requirements for additional capital, Mineral Resource and Mineral Reserve estimates, production estimates, production costs and revenue, future demand for and prices of commodities, expected mining sequences, business prospects and opportunities, the performance and plans of third-party operators, audits being conducted by the Canada Revenue Agency (“CRA”), the expected exposure for current and future tax assessments and available remedies, the completion of the public consultation process and obtaining all required Panamanian approvals for the proposed concession contract with the Government of Panama for the Cobre Panama mine and the terms of the proposed concession contract. In addition, statements relating to Mineral Resources and Mineral Reserves, gold equivalent ounces (“GEOs”) or mine life are forward looking statements, as they involve implied assessment, based on certain estimates and assumptions, and no assurance can be given that the estimates and assumptions are accurate and that such Mineral Resources and Mineral Reserves, GEOs or mine life will be realized. Such forward looking statements reflect management’s current beliefs and are based on information currently available to management. Often, but not always, forward looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budgets”, “potential for”, “scheduled”, “estimates”, “forecasts”, “predicts”, “projects”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Franco-Nevada to be materially different from any future results, performance or achievements expressed or implied by the forward looking statements. A number of factors could cause actual events or results to differ materially from any forward looking statement, including, without limitation: fluctuations in the prices of the primary commodities that drive royalty and stream revenue (gold, platinum group metals, copper, nickel, uranium, silver, iron ore and oil and gas); fluctuations in the value of the Canadian and Australian dollar, Mexican peso, and any other currency in which revenue is generated, relative to the U.S. dollar; changes in national and local government legislation, including permitting and licensing regimes and taxation policies and the enforcement thereof; the adoption of a global minimum tax on corporations; regulatory, political or economic developments in any of the countries where properties in which Franco-Nevada holds a royalty, stream or other interest are located or through which they are held; risks related to the operators of the properties in which Franco-Nevada holds a royalty, stream or other interest, including changes in the ownership and control of such operators; relinquishment or sale of mineral properties; influence of macroeconomic developments; business opportunities that become available to, or are pursued by Franco - Nevada; reduced access to debt and equity capital; litigation; title, permit or license disputes related to interests on any of the properties in which Franco - Nevada holds a royalty, stream or other interest; whether or not the Company is determined to have “passive foreign investment company” (“PFIC”) status as defined in Section 1297 of the United States Internal Revenue Code of 1986, as amended; potential changes in Canadian tax treatment of offshore streams; excessive cost escalation as well as development, permitting, infrastructure, operating or technical difficulties on any of the properties in which Franco-Nevada holds a royalty, stream or other interest; access to sufficient pipeline capacity; actual mineral content may differ from the Mineral Resources and Mineral Reserves contained in technical reports; rate and timing of production differences from resource estimates, other technical reports and mine plans; risks and hazards associated with the business of development and mining on any of the properties in which Franco-Nevada holds a royalty, stream or other interest, including, but not limited to unusual or unexpected geological and metallurgical conditions, slope failures or cave-ins, sinkholes, flooding and other natural disasters, terrorism, civil unrest or an outbreak of contagious disease; the impact of the COVID-19 (coronavirus) pandemic; and the integration of acquired assets. The forward looking statements contained in this Asset Handbook are based upon assumptions management believes to be reasonable, including, without limitation: the ongoing operation of the properties in which Franco - Nevada holds a royalty, stream or other interest by the owners or operators of such properties in a manner consistent with past practice; the accuracy of public statements and disclosures made by the owners or operators of such underlying properties; no material adverse change in the market price of the commodities that underlie the asset portfolio; the Company’s ongoing income and assets relating to determination of its PFIC status; no material changes to existing tax treatment; the expected application of tax laws and regulations by taxation authorities; the expected assessment and outcome of any audit by any taxation authority; no adverse development in respect of any significant property in which Franco-Nevada holds a royalty, stream or other interest; the accuracy of publicly-disclosed expectations for the development of underlying properties that are not yet in production; integration of acquired assets; and the absence of any other factors that could cause actions, events or results to differ from those anticipated, estimated or intended. However, there can be no assurance that forward looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Investors are cautioned that forward looking statements are not guarantees of future performance. In addition, there can be no assurance as to the outcome of the ongoing audit by the CRA or the Company’s exposure as a result thereof. Franco-Nevada cannot assure investors that actual results will be consistent with these forward looking statements. Accordingly, investors should not place undue reliance on forward looking statements due to the inherent uncertainty therein. For additional information with respect to risks, uncertainties and assumptions, please refer to the “Risk Factors” section of our most recent Annual Information Form as well as our most recent Management’s Discussion and Analysis filed with the Canadian securities regulatory authorities on www.sedar.com and Franco-Nevada’s most recent Annual Report filed on Form 40-F filed with the SEC on www.sec.gov. The forward looking statements herein are made as at March 9, 2023 (except where stated otherwise) and Franco-Nevada does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law.

132 TSX / NYSE: FNV Franco-Nevada Corporation Additional Information Overview Precious Metals Diversified Assets Mineral Resources and Mineral Reserves Additional Information Glossary “ A$ ” means Australian dollars. “ Adjusted EBITDA ” and “ Adjusted EBITDA per share ” are non-IFRS measures, which exclude the following from net income and earnings per share: income tax expense/ recovery; finance expenses and finance income; depletion and depreciation; non-cash costs of sales; impairment charges related to royalty, stream and working interests and investments; gains/losses on the sale of royalty, stream and working interests and investments; foreign exchange gains/losses and other income/expenses; and unusual non-recurring items. For additional information and a reconciliation of these measures to various IFRS measures, refer to the Company’s MD&A. “ Adjusted Net Income ” and “ Adjusted Net Income per share ” are non-IFRS financial measures, which exclude the following from net income and earnings per share: impairment charges related to royalty, stream and working interests and investments; gains/losses on the sale of royalty, stream and working interests and investments; foreign exchange gains/losses and other income/ expenses; unusual non-recurring items; and the impact of income taxes on these items. For additional information and a reconciliation of these measures to various IFRS measures, refer to the Company’s MD&A. “ Ag ” means the chemical symbol for the element silver. “ AMR ” means Advanced Minimum Royalty and is rent paid to the royalty holder prior to the payment of royalties on production. Once production begins, the AMR payments are then credited in full against stream of production royalty payments. “ AOI ” means area of interest. “ Au ” means the chemical symbol for the element gold. “ bbl ” means barrel. “ Bbls/d ” means barrels per day. “ Bcf ” means billion cubic feet. “ Boe ” mean barrels of oil equivalent. “ Boe/d ” means barrels of oil equivalent per day. “ CAGR ” means Compounded Annual Growth Rate. “ CIM ” means the Canadian Institute of Mining, Metallurgy and Petroleum. “ CIM Definitions ” means CIM Definition Standards for Mineral Resources and Mineral Reserves and CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines. “ concentrate ” is the product of physical concentration process, such as flotation or gravity concentration, which involves separating ore minerals from unwanted waste rock. Concentrates require subsequent processing (such as smelting or leaching) to break down or dissolve the ore minerals and obtain the desired elements, usually metals. “ Cu ” means the chemical symbol for the element copper. “ cut-off grade ” means the lowest grade of Mineral Resource considered economic; used in the calculation of Mineral Resources and Mineral Reserves in a given deposit. “ Indicated Resources ” has the meaning ascribed to the term “Indicated Mineral Resource” pursuant to CIM Definitions. “ Inf ” means Inferred. “ Inferred Resources ” has the meaning ascribed to the term “ Inferred Mineral Resource ” pursuant to CIM Definitions. “ JORC ” means the Australasian Code for Reporting of Mineral Resources and Mineral Reserves prepared by the Joint Ore Reserves Committee of the Australasian Institute of Mining and Metallurgy, Australian Institute of Geoscientists and Mineral Council of Australia, as amended. “ kg ” represents kilogram. “ km ” represents kilometre. “ km 2 ” represents square kilometre. “ koz ” means thousand ounces. “ kt ” means thousand tonnes. “ ktpd ” means thousand tonnes per day “ lb ” represents pound. “ LOM ” means life of mine. “ m ” means metres. “ M&I ” means Measured and Indicated. “ Mbbls/mbbls ” means thousand barrels. “ Mboe/mboe ” means thousand barrels of oil equivalent. “ Mcf/mcf ” means thousand cubic feet. “ Measured Resources ” has the meaning ascribed to the term “Measured Mineral Resource” pursuant to CIM Definitions. “ mineralization ” usually implies minerals of value occurring in rocks. “ Mineral Royalties ” means the royalty interests in precious and base metal properties and certain equity interests owned by Franco-Nevada. “ Mlbs ” means millions of pounds. “ MMbbl ” means million barrels of oil. “ MMcf/mmcf ” means million cubic feet. “ MMcf/d or mmcf/d ” means million cubic feet per day. “ Mo ” means the chemical symbol for the element molybdenum. “ Moz ” means million ounces. “ Mtpa ” means million tonnes per annum. “ NGLs ” means Natural Gas Liquids. “ NI 43-101 ” means National Instrument 43-101 – Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. “ Ni ” means the chemical symbol for the element nickel. “ NPI ” means Net Profit Interest: the profits after deduction of expenses. “ diamond drill ” is a type of drill in which the rock cutting is done by abrasion, with a diamond impregnated bit, rather than by percussion. The drill cuts a core of rock which is recovered in long cylindrical sections. Syn: “ core drill ”. “ dip ” is the angle between a horizontal plane and an inclined surface such as a rock formation, fault or vein. “ drift ” is a horizontal passage underground that follows along the length of a vein of rock formation. “ EIS ” means environmental impact statement. “ eq ” or “ Eq ” means equivalent. “ fault ” means a fracture in a rock where there has been displacement of the two sides. “ Fe ” means the chemical symbol for the element iron. “ feasibility study ” means a comprehensive study of a mineral deposit in which all geological, engineering, legal, operation, economic, social, environmental and other relevant factors are considered in sufficient detail that it could reasonably serve as a basis by a financial institution to finance the development of a deposit for mineral production. “ FH ” means Freehold or Lessor Royalty. “ flotation ” is a process by which mineral particles are induced to become attached to bubbles and float, in an ore and water slurry, so that the valuable minerals are concentrated at the slurry surface and separated from the worthless gangue. “ fracture ” means breaks in a rock, usually due to intensive folding or faulting. “ Franco-Nevada ” means Franco-Nevada Corporation and is also referred to as “ Franco ”, “ FNV ”, “ the Company ”, “ Corporation ”, “ management ”, “ we ”, or “ our ” in this Asset Handbook. “ Freehold ” means an interest n real property. “ g ” represents grams. “ g/t ” means grams per tonne. “ GR ” means Gross Royalty and is a royalty based on all revenues in cash or in-kind products received by the operator for the sale of product. “ grade ” means the concentration of each ore metal in a rock sample, usually given as weight percent. Where extremely low concentrations are involved, the concentration may be given in grams per tonne (g/t) or oz per ton (oz/t). “ Guide 7 ” means the mining industry guide entitled “Description of Property by Issuers Engaged or to be Engaged in Significant Mining Operations” contained in the Securities Act Industry Guides published by the United States Securities and Exchange Commission, as amended. “ ha ” means hectares; 10,000 square metres. “ heap leaching process ” is the process of extracting gold and silver by placing broken ore on an impermeable pad and applying a diluted cyanide solution that dissolves a portion of the contained gold and silver, which are then recovered in metallurgical processes.

133 Franco-Nevada Corporation TSX / NYSE: FNV Additional Information “ NPR ” means Net Proceeds Royalties: which is a royalty on the profits after deduction of expenses. “ NRI ” means Net Royalty Interest: paid net of operating and capital costs (similar to an NPI). “ NSR ” means Net Smelter Return: Which is the proceeds returned from the smelter and/or refinery to the mine owner less certain costs. “ Oil and Gas Interests ” means the royalty interests, working interests and oil and natural as mineral rights in oil and natural gas properties owned by Franco-Nevada. “ open pit ” is a surface working open to daylight, such as a quarry. “ ore ” means a natural aggregate of one or more minerals which may be mined and sold at a profit, or from which some part may be profitably separated. “ ORR ” means Overriding Royalty: A percentage share of production, which is free of all costs of drilling and producing, and is created by the lessee or working interest owner and paid by the lessee or working interest owner. “ oz ” represents ounce (troy). 1 troy ounce = 1.097 avoirdupois ounce. “ oz/ton ” represents troy ounces er short ton. “ P&P ” means Proven and Probable. “ Pb ” means the chemical symbol for the element lead. “ Pd ” means the chemical symbol for the element palladium. “ PFS ” means preliminary feasibility study. “ PGM ” means the platinum group of metals, including but not limited to Palladium, Platinum, Rhodium, Osmium, and Rhenium. “ porphyry ” is an igneous rock of any composition that contains conspicuous, large mineral grains (phenocrysts) in a fine-grained matrix. “ preliminary feasibility study ” means a comprehensive study of the viability of a mineral project that has advanced to a stage where the mining method, in the case of underground mining, or the pit configuration, in the case of an open pit, has been established and an effective method of mineral processing has been determined, and includes a financial analysis based on reasonable assumptions of technical, engineering, legal, operating, economic, social, and environmental factors and the evaluation of other relevant factors which are sufficient for a qualified person, acting reasonably, to determine if all or part of the mineral resource may be classified as a mineral reserve. “ Probable Reserve ” in respect of Mineral Reserves has the meaning ascribed to the term “ Probable Mineral Reserve ” pursuant to CIM Definitions. “ Proven Reserve ” in respect of Mineral Reserves has the meaning ascribed to the term “ Proven Mineral Reserve ” pursuant to CIM Definitions. “ ton ” is 2,000 pounds. Syn: short ton. “ tonne ” means 1,000 kilograms. “ tpa ” means tonnes per annum. “ vein ” means an epigenetic mineral filling of a fault or other fracture, in tabular or sheet-like form, often with associated replacement of the host rock; a mineral deposit of this form and origin. “ waste ” is rock which is not ore and usually has to be removed during the normal course of mining to get at the ore. “ WI ” means Working Interest. Holders of working interests have an ownership position in the property and operation and hence are liable for cash calls on their share of capital, operating and environmental costs usually in proportion to their ownership percentage. Working interests are not considered to be royalties because of their ongoing funding requirements although, for profitable operations, they can be economically similar in their calculations to NPIs. “ Zn ” means the chemical symbol for the element zinc. “ Pt ” means the chemical symbol for the element platinum. “ Qualified Person ” for the purposes of NI 43-101, is an individual who is an engineer or geoscientist with at least five years of experience in mineral exploration, mine development or operation or mineral project assessment, or any combination of these; and has experience relevant to the subject matter of the mineral project; and who is a member in good standing of a recognized self-regulatory organization of engineers or geoscientists. “ Reserves ” means collectively, in respect of Mineral Reserves, Probable Reserves and Proven Reserves. “ Resources ” means a concentration or occurrence of diamonds, natural solid inorganic material, or natural solid fossilized organic material including base and precious metals, coal, and industrial minerals in or on the earth’s crust in such form and quantity and of such a grade or quality that it has reasonable prospects for economic extraction. “ Revenue-based Royalties ” are based on the value of the production or net proceeds received by the operator with defined deductions as specified by the royalty contract. Some forms of revenue-based royalties in the mining and energy industries are: “ NSR ” Net Smelter Return Royalty “ ORR ” Overriding Royalty “ GR ” Gross Royalty “ FH ” Freehold or Lessor Royalty “ run-of-mine ore ” means mined ore which has not been subjected to any pre-treatment, such as washing, sorting or crushing prior to metallurgical processing. “ SAMREC ” means the South African Code for Reporting of Mineral Resources and Mineral Reserves prepared by the South African Mineral Committee under the auspices of the South African Institute of Mining and Metallurgy, as amended. “ smelting ” is an intermediate stage metallurgical process in which metal is separated from impurities by using thermal or chemical separation techniques. “ stope ” means an excavation in an underground mine from which ore is being or has been extracted. “ Streams ” are metal purchase agreements that allow the holder of the agreement to purchase all or a portion of the gold, silver or other products from a mine in exchange for an upfront payment and an additional payment on each delivery. Streams are not royalties because they are not an interest in land and there is an ongoing cash payment required to purchase the physical metal. “ strike ” means the trend or direction of the intersection of a dipping a layer of rock, fault, vein or other geologic feature with a horizontal surface. “ tailings ” means material rejected after recoverable valuable minerals have been extracted from the ore or concentrate.

134 TSX / NYSE: FNV Franco-Nevada Corporation Overview Precious Metals Diversified Assets Mineral Resources and Mineral Reserves Additional Information Corporate Information Executive Management Paul Brink President & CEO Sandip Rana Chief Financial Officer Lloyd Hong Chief Legal Officer & Corporate Secretary Eaun Gray Senior Vice President, Business Development Jason O’Connell Senior Vice President, Diversified Directors David Harquail Chair of the Board Paul Brink President & CEO Tom Albanese Derek Evans Dr. Catharine Farrow Louis Gignac 1 Maureen Jensen Jennifer Maki Randall Oliphant Jacques Perron 2 Elliott Pew 1 Chair Emeritus Pierre Lassonde Honourary Director Hon. David R. Peterson Listings of Common Shares Toronto Stock Exchange: FNV New York Stock Exchange: FNV Share Capital As at April 11, 2023 Common shares outstanding: 191,958,597 Reserved for options and other: 826,757 Fully diluted: 192,785,354 Auditors PricewaterhouseCoopers LLP Toronto, Canada Transfer Agent Computershare Investor Services Inc. 100 University Avenue, 8th Floor Toronto, Canada M5J 2Y1 Toll Free: (800) 564-6253 Tel: (514) 982-7555 [email protected] Investor Information [email protected] www.franco-nevada.com Tel: (416) 306-6323 Toll Free: (877) 401-3833 Head Office 199 Bay Street, Suite 2000 P.O. Box 285 Commerce Court Postal Station Toronto, Canada M5L 1G9 Tel: (416) 306-6300 Barbados Office Ground Floor, Balmoral Hall, Balmoral Gap, Hastings, Christ Church Barbados, BB14034 Tel: (246) 434-8200 U.S. Office 1745 Shea Center Drive, Suite 400 Highlands Ranch Colorado, USA 80129 Tel: (720) 344-4986 Australia Office 44 Kings Park Road, Suite 41 West Perth, WA 6005, Australia Tel: 61-8-6263-4425 1 Messrs. Gignac and Pew are not standing for re-election at the 2023 Annual and Special Meeting of Shareholders 2 Mr. Perron was appointed to the Board on November 7, 2022 and will be standing for election as a first-time nominee at the 2023 Annual and Special Meeting of Shareholders

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