59 Franco-Nevada Corporation TSX / NYSE: FNV Canada Mineral Resources and Mineral Reserves Additional Information Diversified Assets Kirkland Lake Location: Ontario, Canada Operator: Agnico Eagle Mines Limited Precious Metals: Au Royalty: NSR: 1.5-5.5%; NPI: 20% Franco-Nevada’s 2% NSR royalty, covering a number of claims held by Agnico Eagle from its acquisition of Osisko Mining Corporation in April 2014, covers the AK, Upper Canada, Anoki-McBean and Canadian Kirkland deposits. Work is ongoing to evaluate the potential to develop Upper Canada and Anoki-McBean as potential ore feed to existing milling infrastructure in the region. #4 Shaft completed Large land position in historical mining area covering multiple known deposits Exploration potential on royalty ground at AK and Upper Canada 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ 5.5 $ 5.8 $ 5.4 M&I Resource (koz Au) 1 3,770 3,934 4,467 Inferred Resource (koz Au) 1 3,175 3,781 3,414 P&P Reserves (koz Au) 1 1,913 1,856 2,368 M&I Royalty Ounces (000s) 1, 2 63 66 73 Inferred Royalty Ounces (000s) 2 58 70 64 P&P Royalty Ounces (000s) 2 29 28 36 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. The table above is the sum of reported Agnico Eagle Mineral Resources and Mineral Reserves 2 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 to Macassa and a rate of 2.0% is applicable to Amalgamated Kirkland (AK), Anoki-McBean and Upper Canada Franco-Nevada has various royalties covering approximately 170 km 2 of the Larder Lake and Main Breaks in the historic Kirkland Lake gold camp of Ontario. Agnico Eagle is the largest landowner in the Kirkland Lake camp following its merger with Kirkland Lake Gold in February 2022. Agnico Eagle now owns and operates the Macassa mine which includes production from the Main Break, ’04 Break and the high-grade South Mine Complex (“SMC”). Franco-Nevada’s Kirkland Lake royalty interests with Agnico Eagle include: • An overlying 1.5% NSR on Agnico Eagle’s properties surrounding and including the Macassa mine • An underlying 20% profit-based royalty immediately to the southwest of the SMC as shown in the inset of the schematic • An underlying 2-3% NSR on claims to the west of current operations • An underlying 2% NSR royalty on the extension of Amalgamated Kirkland (“AK”) • A 2% NSR on AK, Upper Canada, Anoki-McBean, Canadian Kirkland and the surrounding land packages In 2022, Macassa produced 200,833 ounces of gold compared to 210,192 ounces of gold in 2021. Production in 2023 is forecast to be between 170,000 to 225,000 ounces of gold, in line with guidance provided in 2022. In 2024 and 2025, current guidance of between 255,000 to 275,000 and 295,000 to 315,000, respectively, reflects a slower ramp-up of mining activities and a lower forecast gold grade. The slower ramp-up in 2024 is partly due to a re-evaluation of the development rate and mining sequence following the completion of Shaft #4 and the new ventilation system. After 2025, Agnico Eagle is forecasting production from the deep mine (including the SMC and Main Break) to be approximately 300,000 to 310,000 ounces of gold per year. Overall, Agnico Eagle believes that Macassa has the potential to be a 320,000 to 350,000 ounces of gold per year producer over the medium term including prospects closer to surface. Both the AK and the Near Surface Deposits at Macassa are accessible from an existing surface ramp at Macassa. Production from the Near Surface deposits is expected to begin in 2023 and production from the AK deposit could potentially begin in 2024. Average annual production from these two deposits could be 20,000 to 40,000 ounces of gold, commencing in 2024. Drilling is planned to continue at AK in 2023 from underground platforms, with a focus on continuing to upgrade and increase the Indicated Mineral Resource. Fault Mineralized Breaks Gold Showings Mine Shafts Anoki-McBean 24 M oz. Kirkland Main Break Amalgamated Kirkland (AK) King Kirkland Dobie Biroco 180 East 13 M oz. Larder Lake Break 66 Esker Upper Beaver Swastika Kirkland Lake Upper Canada N km 0 1 Teck Twp. Otto Twp. Bernhardt Twp. Teck Twp. Teck Twp. Grenfell Twp. Teck Twp. Lebel Twp. Kirkland Lake Royalty Area Overlying 1.5% NSR Plus Underlying Royalties of: 20% NPI – Macassa 2% NSR – Gracie West 3% NSR – KLW 2% NSR – AK extension 2% NSR – AK and surrounding land package Kirkland Lake Swastika Macassa #3 Shaft Macassa #2 Shaft Gracie West Macassa Teck-Hughes Lakeshore Kirkland Minerals South Mine Complex Kirkland Lake West (KLW) Wright- Hargreaves Macassa #4 Shaft Macassa #1 Shaft Amalgamated Kirkland (AK) Kirkland Lake Quebec Ontario