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