100 TSX / NYSE: FNV Franco-Nevada Corporation Other Mining Overview Precious Metals Diversified Assets Mt Keith Location: Australia Operator: BHP Billiton Limited Metals: Ni Royalty: NPI: 0.25% / GR: 0.375% Albion Downs Jericho Cliffs Yakabindie Kingston Royalty Area 122.5 km 2 Perth Wiluna Port Hedland Kalgoorlie Mt Keith Royalty Area 114 km 2 Mt Keith Total: 236.5 km 2 Mt Keith Kingston Royalty Area N km 0 5 10 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ 0.8 $ 2.3 $ 1.2 M&I Resource (Mlbs Ni) 1 2,390 2,390 2,442 Inferred Resource (Mlbs Ni) 1 275 275 275 P&P Reserves (Mlbs Ni) 1 1,087 1,087 1,135 M&I Royalty Ounces (000s) 1, 2 51 42 34 Inferred Royalty Ounces (000s) 2 6 5 4 P&P Royalty Ounces (000s) 2 23 19 16 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 100% of the Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates a rate of 0.50% is applicable. Franco- Nevada has also applied a NSR smelting charge of 30%. Nickel has been converted to Royalty Ounces assuming $11.00 per pound ($9.00 per pound in 2021, $7.00 per pound in 2020) Franco-Nevada has a 0.375% gross royalty and a 0.25% NPI royalty on lands including the Mt Keith nickel operation in Western Australia, located 460 km north of Kalgoorlie. BHP Billiton Limited (“BHP Billiton”) is the operator and the project is a large, low-grade disseminated nickel sulphide ore body with an open-pit mine. Franco-Nevada’s royalties cover 236 km 2 and includes the Jericho Nickel Deposit located approximately 25 km northwest of Mt Keith, and part of the Yakabindie Deposits located approximately 25 km south of Mt Keith. Mining commenced in 1993 with the first nickel concentrate produced in 1994. In June 2022, BHP Billiton reported that Mt Keith had an estimated mine life of 15 years. Mt Keith concentrator ore throughput is approximately 10.5 Mtpa with 63% recoveries. Production capacity is 35,000-40,000 tonnes per annum of nickel in concentrate. Mt Keith is part of Nickel West, BHP Billiton’s integrated business unit for Australian nickel assets, along with four other mines, a concentrator, a smelter and a refinery. BHP Billiton reported that Nickel West total production for the fiscal year ending June 2022 was 77,000 tonnes of nickel. During 2019, BHP Billiton developed the Goliath and Six Mile Well Nickel Deposits at Yakabindie as satellite operations. Mt Keith, Australia Franco-Nevada’s royalty does not cover Goliath or the southern half of Six Mile Well. It is estimated that royalty area production accounted for 20% of Nickel West total production in the fiscal year ending June 2022. Yakabindie satellite deposits are expected to provide the majority of ore to the Mt Keith concentrator going forward. BHP is progressing expansion plans to increase Mt Keith mill capacity to 13.5 Mtpa and increase nickel concentrate production to 50,000 tpa, with contracts awarded March 2023. 15-year mine life at Mt Keith Yakabindie satellite deposits developed in 2019 – largely outside royalty area Progressing Mt Keith concentrator expansion to 50,000 tonnes per annum Exploration upside on large land package