North America Other Producing Energy Assets Location: BC / AB / SK / MB, Canada and Oregon, U.S. In Saskatchewan and Manitoba, the assets are focused primarily in high w Operator: Various quality oil plays and are operated by companies such as Crescent Point vie Royalty: ORR/FH: 0.5-20% Energy, Saturn Oil & Gas Inc., Vermilion Energy Inc. and Tundra Oil & er Gas Partnership. The most significant producing assets are comprised v O of the Midale Unit and the Tidewater royalties. Franco-Nevada holds a 1.14% gross override royalty interest and a 1.59% working interest 2022 2021 2020 in the Midale Unit in Southeast Saskatchewan where Cardinal Energy produces approximately 3,800 Boe/d through CO Enhanced Oil Recovery 1 2 Revenue to Franco-Nevada ($ million) $ 13.4 $ 8.9 $ 5.1 (“EOR”) techniques. The Tidewater royalties in Saskatchewan generate oil 2 production from the Shaunavon and other formations and are managed Production (Mboe) 250 257 319 3 by various operators. Commodity Split (%) Oil 66% 67% 70% Gas 23% 20% 16% In Alberta and BC, the interests generate revenue primarily from natural NGL 11% 13% 14% gas production from shallow gas formations such as Milk River and 1 Revenue refers only to payments made to Franco-Nevada; includes revenue received from lease Medicine Hat. In northern Alberta, the interests provide exposure to and bonus payments deeper conventional gas targets including the Shunda, Grosmont and 2 Net to the Oil and Gas Interests and does not include production from Neal Hot Springs etals 3 Percentage based on production revenue from each commodity Elkton formations. Franco-Nevada’s most significant assets in the region are the Edson property operated by Canadian Natural Resources Ltd. Franco-Nevada has other interests in Western Canada (“CNRL”) and the Medicine Hat Consolidated Unit No.1, operated by ecious M Canlin Resources Partnership. Franco-Nevada has an approximate 15% r which generate revenue primarily through lessor royalties P overriding royalty in the Edson property where CNRL extracts gas and and GORRs. natural gas liquids by exploiting resources in the Cardium Formation. The Medicine Hat Unit has been producing gas since 1963 and is located Aside from the major producing assets of Weyburn and Orion, Franco- approximately 257 km southeast of Calgary. Other production comes Nevada has 44 Other Producing Assets that generate revenue. These from unitized and non-unitized wells, including gross overriding royalty 2 interests cover more than 2,250 km . positions in ten different Units across Alberta. Other operators on the interests include, CNRL and Imperial Oil. In 2020, Franco-Nevada acquired a royalty on the Neal Hot Springs geothermal operation in Oregon as part of a broader portfolio transaction. The plant produces approximately 22 MW of geothermal ssets energy and is operated by Ormat Technologies, Inc. Franco-Nevada received $0.23 million in revenue from Neal Hot Springs in 2022. Montney ersified A Peace River Primarily quality oil plays in Saskatchewan and iv Oil Sands Athabasca D Oil Sands Manitoba Exposure to shallow gas and deeper conventional gas in Alberta and BC ALBERTA Duvernay Interest in the Neal Hot Springs Deep Redwater geothermal operation Basin Cardium Viking Cold Lake Edson Oil Sands EDMONTON Saskatchewan/Manitoba Oil and Gas Interests N Lloydminster 0 80 N Heavy Oil km 0 80 Lloydminster km Heavy Oil SASKATCHEWAN MANITOBA Alberta/ Dodsland SE Saskatchewan British Columbia Viking Lower Bakken Torquay Oil Oil and Gas CBM and Mississippian Oil Interests CALGARY (HSCN) Shallow Gas REGINA AN Shaunavon Company Core Land W Oil Company Non Core Land Shallow CHE A Gas Weyburn/ Major City T T A Midale BRITISH COLUMBIA Williston Basin Alberta SASK ALBER Bakken NORTH DAKOTA Bakken Spearfish Company Core Land WASHINGTON IDAHO MONTANA Sanish Oil Oil Company Non Core Land MONTANA Major City 112 Franco-Nevada Corporation TSX / NYSE: FNV