Responsible Capital Allocation Community Contributions Good Governance & Shareholder Alignment Diversity, Inclusion & Well-Being Climate Action Transparency & Guiding Principles Appendices 82 Appendix G: KPMG: Independent Limited Assurance Report ASSURANCE APPROACH We planned and performed our procedures to obtain all of the evidence, information and explanations we considered necessary in order to form our conclusion as set out below. A limited assurance engagement consists of making KPMG LLP inquiries, primarily of persons responsible for the preparation of the Description of Implementation and applying Bay Adelaide Centre analytical and other evidence gathering procedures, and evaluating the evidence obtained. Our procedures included: 333 Bay Street, Suite 4600 • Inquiries of those responsible for completing the activities to self-assess implementation of Franco- Toronto, ON M5H 2S5 Nevada’s internally developed RGMP Policy; Canada Tel 416-777-8500 • Assessing the suitability and application of the criteria in respect of the Description of Fax 416-777-8818 Implementation; • Reviewing relevant evidence and other documentation to support management’s statements; INDEPENDENT LIMITED ASSURANCE REPORT • Inquiries with relevant staff at the corporate level to understand the data collection and reporting processes for the Description of Implementation; and To the Board of Directors of Franco-Nevada Corporation (“Franco-Nevada”): • Evaluation of the overall presentation of the Description of Implementation in the Report to determine We have undertaken a limited assurance engagement of the description of implementation on Franco- Nevada’s whether the information presented is consistent with our overall knowledge of, and experience with, Responsible Gold Mining Principles Policy (“RGMP Policy”) presented in the table on page 47 under the section titled Franco-Nevada’s RGMP Policy implementation. “Description of implementation” of Franco-Nevada’s 2023 ESG Report (the “Report”) as at December 31, 2022. The procedures performed in a limited assurance engagement vary in nature ad timing, from and are less in extent Other than as described in the preceding paragraph, which sets out the scope of our engagement, we did not than for, a reasonable assurance engagement. Consequently, the level of assurance obtained in limited assurance perform assurance procedures on the remaining information included in the Report, and accordingly, we do not engagement is substantially lower than the assurance that would have been obtained had a reasonable assurance engagement been performed. express a conclusion on this information. PRACTITIONER’S INDEPENDENCE, QUALITY CONTROL SPECIFIC PURPOSE OF SUBJECT MATTER AND APPLICABLE CRITERIA We have complied with the relevant rules of professional conduct/code of ethics applicable to the practice of public There are no mandatory requirements for the preparation, publication or review of management’s description of accounting and related to assurance engagements, issued by various professional accounting bodies, which are founded implementation of the RGMP Policy. As such, Franco-Nevada has created and applied internally developed RGMP on fundamental principles of integrity, objectivity, professional competence and due care, confidentiality and professional Policy Measures (the ‘Applicable Criteria’) which are listed in the table on page 47 of the Report. behaviour. The Description of Implementation has been prepared in accordance with the Applicable Criteria and as a result may The firm applies International Standard on Quality Management 1, which requires the firm to design, implement and not be suitable for another purpose. operate a system of quality management including policies or procedures regarding compliance with ethical requirements, professional standards and applicable legal and regulatory requirements. MANAGEMENT’S RESPONSIBILITIES SIGNIFICANT INHERENT LIMITATIONS Management is responsible for the preparation and presentation of the Description of Implementation in accordance Non-financial information, such as the Description on Implementation, is subject to more inherent limitations than with the Applicable Criteria, current as at the date of this report. Management is also responsible for determining financial information, given the qualitative characteristics of the underlying subject matter and methods used for Franco-Nevada’s objectives in respect of RGMP Policy performance and reporting, and for establishing and determining this information. The absence of a significant body of established practice on which to draw allows for the maintaining appropriate performance management and internal control systems from which the reported information selection of different but acceptable evaluation techniques, which can result in materially different measurements and is derived. can impact comparability. It is important to read Franco-Nevada’s internally developed RGMP Policy Measures presented in the table on page 47 of the Report. PRACTIONER’S RESPONSIBILITIES AND PROFESSIONAL REQUIREMENTS Our responsibility is to express a limited assurance conclusion based on the subject matter information based on CONCLUSION evidence we have obtained. We conducted our limited assurance engagement in accordance with International Our conclusion has been formed on the basis of, and is subject to, the matters outlined in this report. Standard on Assurance Engagements (“ISAE”) 3000, Assurance Engagements Other than Audits or Review of We believe that the evidence we have obtained is sufficient and appropriate to provide a basis for our conclusion. Historical Financial Information., issued by the International Auditing and Assurance Standards Board. ISAE 3000 Based on the procedures performed and evidence obtained, nothing has come to our attention that causes us to requires that we plan and perform this engagement to obtain the stated level of assurance, in accordance with the believe that the Description of Implementation as described above and disclosed in the Report as at December Applicable Criteria. 31, 2022, has not been prepared and presented, in all material respect, in accordance with the Applicable The nature, timing and extent of procedures performed depends on our professional judgment, including an assessment Criteria, current as at the date of this report. of the risk of material misstatement, whether due to fraud or error, and involves obtaining evidence about the Description of Implementation. Chartered Professional Accountants, Licensed Public Accountants April 12, 2023 © 2023 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent © 2023 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.