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