120 TSX / NYSE: FNV Franco-Nevada Corporation Mineral Resources and Mineral Reserves Overview Precious Metals Diversified Assets Mineral Resources and Mineral Reserves Notes and Sources All Mineral Resources and Mineral Reserves have been calculated in accordance with CIM or Acceptable Foreign Codes for the purposes of NI 43-101, including Regulation S-K 1300, JORC, or SAMREC guidelines. Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability. Unless otherwise noted, Mineral Resources were reported by the operator inclusive of Mineral Reserves. Contained metal does not take into account recovery losses. Franco-Nevada’s royalties or stream interests may not cover the operator’s entire property or all estimated Mineral Resources and Mineral Reserves or a combination of both. The grade of platinum group elements has been reported by the operators as either the sum of the individual platinum group elements grades or the individual grades. In the cases where individual platinum group element grades have been reported, Franco-Nevada’s Qualified Person has calculated the sum of the platinum group element grades for presentation purposes. Mineral Resources and Mineral Reserves based on publicly disclosed information available as of March 9, 2023. Rows and columns may not add up due to rounding. Inferred Resources are in addition to Measured and Indicated Resources. See “Cautionary Note Regarding Mineral Resource and Mineral Reserve Estimates”. 1 Mineral Resources reported by operator exclusive of Mineral Reserves. Franco-Nevada’s Qualified Person determined the inclusive Mineral Resources by adding the exclusive Measured and Indicated Mineral Resources to the Proven and Probable Reserves 2 Mineral Resources and Mineral Reserves are reported by the operator in non-metric units. Franco- Nevada’s Qualified Person calculated the metric conversion using 1 opt = 34.286 g/t, 1 short ton = 0.9018 metric tonnes, 1 oz = 31.1035 g 3 Lundin Mining Corporation; News Release, February 8, 2023 4 The stream agreement applies to 100% of the property, but only with respect to the ownership interest of Lundin Mining Corporation which indirectly owns 80% of the Candelaria Copper Mining Complex 5 Glencore plc; Resources & Reserves as at December 31, 2022 6 Southern Peaks Mining LP; Mineral Reserves: Email to Franco-Nevada (Barbados) Corporation, February 28, 2023, containing reserve declaration. Mineral Resources: Letter to Franco-Nevada (Barbados) Corporation, March 7, 2023, containing global, in situ, resource estimate 7 Vale S.A.; Form 20-F as filed with the Securities and Exchange Commission on April 14, 2022. Details of Vale’s Participating Debentures are available on Vale’s website 8 Yamana Gold Inc.; Technical Report, August 26, 2022 9 Gold Fields Limited; Mineral Resources and Mineral Reserves Supplement to the Integrated Annual Report 2021 10 SolGold plc; Annual Report 2022, October 26, 2022 11 G Mining Ventures Corp.; Corporate Presentation, February 2023 12 Hochschild Mining PLC; Annual Report & Accounts 2021 13 First Quantum Minerals Ltd.; Amended and Restated Technical Report, March 29, 2021 14 OZ Minerals Limited; ASX Release, December 21, 2022 15 Patagonia Gold Corp.; Investor Presentation, October 2022 16 Coro Mining Corporation; Preliminary Feasibility Study, March 1, 2012 17 Hochschild Mining PLC; Annual Report and Accounts 2021, April 20, 2022 18 First Quantum Minerals Ltd.; Annual Information Form, March 28, 2022 19 Coeur Mining, Inc.; News Release, February 22, 2023 20 Barrick Gold Corporation; Press Release, February 9, 2023. Carlin Trend includes Goldstrike, Gold Quarry and South Arturo as well as other properties where Franco-Nevada has no royalties or stream interests 21 SSR Mining Inc.; Form 8-K, September 29, 2022 22 Kinross Gold Corporation; News Release, February 15, 2023 23 Equinox Gold Corp.; Mineral Reserves & Mineral Resources, October 19, 2022 24 Equinox Gold Corp.; Mineral Reserves & Mineral Resources, October 19, 2022 25 Hecla Mining Company; News Release, February 14, 2023 26 Hecla Mining Company; News Release, February 14, 2023 27 Perpetua Resources Corp., Annual Report, March 18, 2022 28 Gold Bull Resources Corp.; Technical Report, October 27, 2022 29 KGHM Polska Miedź S.A.; Mineral Resources and Reserves Report, December 31, 2014 30 Millennial Precious Metals Corp.; Corporate Presentation, January 2023 31 Agnico Eagle Mines Limited; News Release, February 16, 2023 32 KGHM does not provide updated Mineral Resource and Mineral Reserve estimates. As such, Franco- Nevada has chosen not to display the historical figure moving forward 33 Barrick Gold Corporation; Press Release, February 9, 2023 34 Pretium Resources Inc.; 2021 Brucejack Mine Mineral Resources and Mineral Reserves 35 Agnico Eagle Mines Limited; News Release, February 16, 2023 36 Victoria Gold Corp.; News Release, February 24, 2023 37 Newmont Corporation; News Release, February 23, 2023 38 Pan American Silver Corp.; NI 43-101 Technical Report, June 30, 2021 39 Agnico Eagle Mines Limited; News Release, February 16, 2023 40 Alamos Gold Inc.; News Release, February 21, 2023 41 Agnico Eagle Mines Limited; News Release, February 16, 2023 42 Agnico Eagle Mines Limited; News Release, February 16, 2023 43 Agnico Eagle Mines Limited; News Release, February 16, 2023 44 Argonaut Gold Inc.; Magino Gold Project NI 43-101 Technical Report, March 3, 2022 45 Equinox Gold Corp.; Mineral Reserves & Mineral Resources, October 19, 2022 46 Marathon Gold Corporation; News Release, December 7, 2022 47 Skeena Resources Limited; NI 43-101 Technical Report and Feasibility Study, September 19, 2022 48 Evolution Mining Limited; ASX Announcement, February 16, 2023 49 Seabridge Gold Inc.; Mineral Resources and Mineral Reserves, June 2022 50 Fortune Bay Corp.; Goldfields Project NI 43-101 Technical Report on PEA, October 31, 2022 51 Agnico Eagle Mines Limited; News Release, February 16, 2023 52 Ascot Resources Ltd.; Annual Information Form, March 21, 2022 53 Wallbridge Mining Company Limited; News Release, January 17, 2023 54 Westhaven Gold Corp.; Shovelnose Gold Property NI 43-101 Technical Report, January 19, 2022 55 Regis Resources Limited; ASX Announcement, June 8, 2022 56 Wiluna Mining Corporation Limited; ASX Announcements, April 12, 2022 and November 17, 2021 57 Northern Star Resources Limited; ASX Announcement, May 3, 2022 58 Northern Star Resources Limited; ASX Announcement, May 3, 2022 59 St Barbara Limited; 2022 Annual Report, September 16, 2022 60 Matsa Resources Ltd.; Annual Report, October 12, 2022 and AngloGold Ashanti Limited; Mineral Resource and Ore Reserve Report as at December 31, 2021 61 Catalyst Metals Limited; ASX Announcement, November 10, 2022 62 Norton Gold Fields Limited; Corporate Website, January 25, 2023 63 Ramelius Resources Limited; ASX Release, September 13, 2022 64 Ramelius Resources Limited; ASX Release, September 13, 2022 65 Gascoyne Resources Limited; Corporate AGM Presentation, January 20, 2022 66 Harmony Gold Mining Company Limited; Mineral Resources and Mineral Reserves Report, June 30, 2022 67 Endeavour Mining Corp.; News Release, March 9, 2023 68 Kinross Gold Corporation; News Release, February 15, 2023 69 Newmont Corporation; News Release, February 23, 2023 70 Endeavour Mining Corp.; Annual Information Form, March 31, 2021 71 Perseus Mining Limited; News Release, August 30, 2022 72 Ariana Resources plc; News Release, February 1, 2022 73 Fortuna Silver Mines Inc.; News Releases, March 17, 2022 and December 05, 2022 74 Eldorado Gold Corporation; News Release, December 5, 2022 75 Alamos Gold Inc.; News Release, February 21, 2023 76 Perseus Mining Limited; News Release, August 30, 2022 77 Lundin Mining Corporation; News Release, February 8, 2023 78 Glencore plc; Resources & Reserves as at December 31, 2022 79 Teck Resources Limited; Annual Information Form, February 21, 2023 80 The stream agreement applies to 100% of the property, but only with respect to the ownership interest of Teck Resources Limited which indirectly owns a 22.5% interest in Compañía Minera Antamina S.A. 81 Southern Peaks Mining LP; Mineral Reserves: Email to Franco-Nevada (Barbados) Corporation, February 28, 2023, containing reserve declaration. Mineral Resources: Letter to Franco-Nevada (Barbados) Corporation, March 7, 2023, containing global, in situ, resource estimate 82 Yamana Gold Inc.; Technical Report, August 26, 2022 83 Gold Fields Limited; Mineral Resources and Mineral Reserves Supplement to the Integrated Annual Report 2021 84 SolGold plc; Annual Report 2022, October 26, 2022 85 Patagonia Gold Corp.; Investor Presentation, October 2022 86 First Quantum Minerals Ltd.; Annual Information Form, March 28, 2022 87 Hecla Mining Company; News Release, February 14, 2023 88 Skeena Resources Limited; NI 43-101 Technical Report and Feasibility Study, September 19, 2022 89 Millennial Precious Metals Corp.; Corporate Presentation, January 2023 90 Sibanye Stillwater Limited; Market Release, February 17, 2023 91 KGHM does not provide updated Mineral Resource and Mineral Reserve estimates. As such, Franco- Nevada has chosen not to display the historical figure moving forward 92 Noront Resources Ltd.; NI 43-101 Technical Report Feasibility Study, September 4, 2012 93 Generation Mining Limited; Corporate Presentation, June 2022 94 Lonmin plc; Mineral Resource and Mineral Reserve Statement 2017 95 Vale S.A.; Form 20-F as filed with the Securities and Exchange Commission on April 14, 2022. Details of Vale’s Participating Debentures are available on Vale’s website 96 SolGold plc; Annual Report 2022, October 26, 2022 97 Teck Resources Limited; Annual Information Form, February 21, 2023 98 First Quantum Minerals Ltd.; Amended and Restated Technical Report, March 29, 2021 99 Los Andes Copper Ltd.; News Release, February 23, 2023 100 Hudbay Minerals Inc.; News Release, June 8, 2022 101 KGHM Polska Miedź S.A.; Mineral Resources and Reserves Report, December 31, 2014 102 Glencore plc; Resources & Reserves as at December 31, 2014 103 Noront Resources Ltd.; NI 43-101 Technical Report Feasibility Study, September 4, 2012 104 Canada Nickel Company Inc.; Corporate Presentation, February 2023 105 BHP Group Limited; Annual Report 2022 106 Noront Resources Ltd.; Corporate Website, March 7, 2022 107 Vale S.A.; Form 20-F as filed with the Securities and Exchange Commission on April 14, 2022. Details of Vale’s Participating Debentures are available on Vale’s website 108 Labrador Iron Ore Royalty Corporation; Annual Information Form, March 7, 2023 109 Franco-Nevada holds a 9.9% equity interest in Labrador Iron Ore Royalty Corporation (“LIORC”). LIORC, directly and through its wholly-owned subsidiary, owns a 15.1% equity interest in Iron Ore Company of Canada and receives a 7% gross overriding royalty on the operation and also receives a C$0.10/t commission on sales of iron ore