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North America Haynesville Location: East Texas, United States Operator: Rockcliff Energy, Others Energy: Natural Gas Royalty: Various Royalty Rates 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ 72.9 $ 38.5 $ 4.211 2 Production (Mboe) 1,988 1,904 340 3 Commodity Split (%) Oil 0% 1% 0% Gas 99% 97% 100% NGL 1% 2% 0% st 1 Revenue from October 1 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 Rockcliff Energy drill rig, East Texas 3 Percentage based on production revenue from each commodity 4 Inventory locations are based on third-party reserve estimates for the Proved, Probable, Possible, The portfolio principally generates revenue from dry natural gas and Contingent resource categories for currently producing formations production which amounted to $72.9 million in 2022, benefitting from In December of 2020, Franco-Nevada acquired a portfolio strong realized natural gas prices. During 2022, approximately 59 wells were completed on royalty lands. The land base has a potential inventory 4 of royalty rights in the Haynesville natural gas play in of 464 future well locations implying approximately eight years of Texas from Mesa Minerals Partners LLC, a Quantum Energy additional drilling (based on the prior year drilling rate), followed by many Partners portfolio company, for $135 million. years of production over the life of the wells. The royalties also provide development potential in the Cotton Valley formation, which may be The Haynesville is currently one of the most active natural gas plays further exploited in the future. The Haynesville portfolio has performed in North America, owing to its strong well performance and close well since acquisition benefitting from robust activity levels and favorable proximity to infrastructure along the U.S. Gulf Coast, which reduces realized gas prices. transportation costs. Natural gas exposure concentrated under The royalties consist of approximately 2,701 acres of mineral rights (net strong operator to Franco-Nevada), located in Harrison and Panola counties and provide a perpetual interest in land. The royalty position is situated in a core Close proximity to U.S. Gulf Coast area of the East Texas portion of the Haynesville, which represents a enhances economics shallower part of the basin where the producing formation is thickest. The portfolio was originally assembled in strategic partnership with Rockcliff Secure land title with proven production history 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. M Haynesville iner T al R e esour 0 N 15 xas km L 0 10 ouisiana c miles Harrison es and M County iner al R FNV Royalty Acreage eser v Haynesville Fairway es OKLAHOMA ARKANSAS Anadarko Basin Fayetteville Woodford Arkomo Basin Panola Bend NEW Fort Worth Ardmore Haynesville-Bossier County MEXICO Basin Barnett Basin LOUISIANA A Spraberry Tuscaloosa dditional I Permian Basin TEXAS Eagle Ford Regional Basins nf orma tion TSX / NYSE: FNV Franco-Nevada Corporation 107

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