Additional Information Technical and Third-Party Information w vie er Amri Sinuhaji, Vice President, Mining of Franco-Nevada is the qualified person that approved the v O scientific or technical information contained in this Asset Handbook related to mineral projects that are material (for purposes of NI 43-101) to Franco-Nevada. Franco-Nevada considers its stream interests in the Candelaria mine and the Mineral Resource and Mineral Reserve Estimates Cobre Panama mine to be its only material mining projects for the purposes of NI 43-101. Franco-Nevada will continue to assess the materiality of its assets as This Asset Handbook has been prepared in accordance with the requirements new assets are acquired or move into production. of Canadian securities laws in effect in Canada, which differ from the requirements of U.S. securities laws. Unless otherwise indicated, all Mineral Except where otherwise stated, the disclosure in this Asset Handbook relating Resource and Mineral Reserve estimates included in this Asset Handbook to properties and operations on the properties on which Franco-Nevada holds have been prepared by the owners or operators of the relevant properties (as royalty, stream or other interests is based on information publicly disclosed by and to the extent indicated by them) in accordance with NI 43-101 and the etals the owners or operators of these properties and information/data available in Canadian Institute of Mining and Metallurgy Classification System. NI 43-101 the public domain as at March 9, 2023 (except where stated otherwise), and is a rule developed by the Canadian securities regulatory authorities which none of this information has been independently verified by Franco-Nevada. establishes standards for all public disclosure an issuer makes of scientific ecious M Specifically, as a royalty or stream holder, Franco-Nevada has limited, if any, and technical information concerning mineral projects. NI 43-101 permits r access to properties included in its asset portfolio. Additionally, Franco-Nevada a historical estimate made prior to the adoption of NI 43-101 that does not P may from time to time receive operating information from the owners and comply with NI 43-101 to be disclosed using the historical terminology if, operators of the properties, which it is not permitted to disclose to the public. among other things, the disclosure: (a) identifies the source and date of Franco-Nevada is dependent on the operators of the properties and their the historical estimate; (b) comments on the relevance and reliability of the qualified persons to provide information to Franco-Nevada or on publicly historical estimate; (c) states whether the historical estimate uses categories available information to prepare disclosure pertaining to properties and other than those prescribed by NI 43-101; and (d) includes any more recent operations on the properties on which Franco-Nevada holds royalty, stream or estimates or data available. other interests and generally has limited or no ability to independently verify such information. Although Franco-Nevada does not have any knowledge that Mining disclosure under U.S. securities law was previously required to comply such information may not be accurate, there can be no assurance that such with SEC Industry Guide 7 (“SEC Industry Guide 7”) under the United States third-party information is complete or accurate. Some information publicly Securities Exchange Act of 1934, as amended. The SEC has adopted rules to reported by operators may relate to a larger property than the area covered replace SEC Industry Guide 7 with new mining disclosure rules under sub-part ssets by Franco-Nevada’s royalty, stream or other interest. Franco-Nevada’s royalty, 1300 of Regulation S-K of the U.S. Securities Act of 1933 (“Regulation S-K stream or other interests often cover less than 100% and sometimes only 1300”), which became mandatory for U.S. reporting companies beginning a portion of the publicly reported Mineral Resource, Mineral Reserve and with the first fiscal year commencing on or after January 1, 2021. Under ersified A production of a property. Regulation S-K 1300, the SEC now recognizes estimates of “Measured Mineral iv Resources”, “Indicated Mineral Resources” and “Inferred Mineral Resources”. D Reconciliation to CIM Definitions In addition, the SEC has amended its definitions of “Proven Mineral Reserves” and “Probable Mineral Reserves” to be substantially similar to international In this Asset Handbook, Franco-Nevada has disclosed a number of Mineral standards. Readers are cautioned that despite efforts to harmonize U.S. mining Resource and Mineral Reserve estimates covering properties related to the disclosure rules with NI 43-101 and other international requirements, there mining assets that are not based on Canadian Institute of Mining, Metallurgy are differences between the terms and definitions used in Regulation S-K 1300 and Petroleum (“CIM”) definitions, but instead have been prepared in reliance and mining terms defined in the Canadian Institute of Mining, Metallurgy and upon other comparable international reporting codes, including JORC Petroleum Standards, which definitions have been adopted by NI 43-101, and es (Australia), SAMREC (South Africa) and Regulation S-K 1300 (collectively, the there is no assurance that any Mineral Resources or Mineral Reserves that an v “Acceptable Foreign Codes”). Similar to the CIM, reporting standards adopted owner or operator may report as “Measured Mineral Resources”, “Indicated eser by these Acceptable Foreign Codes are all compliant with the international Mineral Resources”, “Inferred Mineral Resources”, “Proven Mineral Reserves” al R Mineral Resource and Mineral Reserve Guidelines defined by the Committee and “Probable Mineral Reserves” under NI 43-101 would be the same had iner for Mineral Reserves International Reporting Standards (“CRIRSCO”). the owner or operator prepared the Mineral Resource and Mineral Reserve In each case, the Mineral Resources and Mineral Reserves reported in this estimates under the standards of Regulation S-K 1300. Asset Handbook are based on estimates previously disclosed by the relevant In addition to NI 43-101, a number of Mineral Resource and Mineral Reserve es and M property owner or operator, without reference to the underlying data used estimates have been prepared in accordance with the JORC Code or the c to calculate the estimates. Accordingly, Franco-Nevada is unable to reconcile SAMREC Code (as such terms are defined in NI 43-101), which differ from the esour the Mineral Resource and Mineral Reserve estimates prepared in reliance with requirements of NI 43-101 and U.S. securities laws. Accordingly, information al R the Acceptable Foreign Codes with that of CIM definitions. Franco-Nevada containing descriptions of the Corporation’s mineral properties set forth iner sought confirmation from one of its technical advisory firms, that is comprised herein may not be comparable to similar information made public by U.S. M of engineers experienced in the preparation of Mineral Resource and Mineral companies subject to the reporting and disclosure requirements under the Reserve estimates using CIM and each of the Acceptable Foreign Codes, of U.S. federal securities laws and the rules and regulations thereunder. For more the extent to which an estimate prepared under an Acceptable Foreign Code information, see “Reconciliation to CIM Definitions”. would differ from that prepared under CIM definitions. Franco-Nevada was advised that CIM are largely comparable to those of the Acceptable Foreign Oil and Gas Information Advisory Codes, the Mineral Resource and Mineral Reserve definitions and categories are substantively the same as the CIM definitions mandated in NI 43-101 and In this Asset Handbook, certain natural gas volumes have been converted to tion will typically result in reporting of substantially similar Mineral Resource and barrels of oil equivalent on the basis of six Mcf to one bbl. Boe and mboe may Mineral Reserve estimates. Such advisors further confirmed, without reference be misleading, particularly if used in isolation. A conversion ratio of six Mcf orma to the procedures in which the estimates prepared using Acceptable Foreign to one bbl is based on an energy equivalency ratio and does not represent a nf Codes that are reproduced in this Asset Handbook were conducted, that in the value equivalency. course of their preparation of a Mineral Resource or Mineral Reserve estimate they would effectively use the same procedures to prepare and report the dditional I Mineral Resource or Mineral Reserve estimate regardless of the reliance on A CIM or any of the Acceptable Foreign Codes. 130 Franco-Nevada Corporation TSX / NYSE: FNV