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