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