Responsible Capital Allocation Community Contributions Good Governance & Shareholder Alignment Diversity, Inclusion & Well-Being Climate Action Transparency & Guiding Principles Appendices 12 1,2 Water Management and Risk Top Mining Assets: Overall Water Risk and Water Intensity Asset Overall Water Risk 3 Water consumption intensity Sustainable water management is critical Using World Resource Institute’s (WRI) Aqueduct 3 (m /kt ore milled) within the mining industry. In our due diligence tool, we have identified the overall water risk for assessments of new royalty and stream the areas where each of our Top Mining Assets Cobre Panama Medium-High 12.0 (Panama) opportunities, Franco-Nevada pays particular are located, which measures all water-related attention to water-related issues and risks risks, including physical quantity, quality Candelaria High 16.1 impacting all applicable aspects of the mining and regulatory and reputational risk. (Chile) lifecycle, including: Antapaccay Medium-High 12.0 Water intensity is one measurement that can (Peru) • management of water to access ore be used to monitor trends in water use efficiency Guadalupe-Palmarejo through dewatering; at a project. Water intensity is particularly (Mexico) Low-Medium 25.8 • water use for ore processing and recovery important in areas of water scarcity and/or from mine tailings; where there are competing interests Antamina Low-Medium 18.1 (Peru) • provision of potable water and sanitation for water availability. facilities for employees and communities; Northern and Southeastern Low-Medium 17.5 • discharge of water back to the In the case of the mining sector, the metric Systems (Brazil) environment; is commonly expressed as the amount of water MWS Low-Medium 16.1 • interaction with marine water resources used per unit of ore processed. On this page, we (South Africa) through port facilities; and have set out the 2021 water intensities for each Stillwater • utilization and desalination of marine water. of our Top Mining Assets, measured as the cubic (USA - Montana) Low-Medium 6.8 3 meters (m ) of water used per kilotonne (kt) of ore milled. Detour Lake Low 20.6 (Canada - Ontario) “...Franco-Nevada pays Water intensities for our Top Mining Assets have Hemlo Low 25.8 been benchmarked against McKinsey global (Canada - Ontario) particular attention mining industry average for 2021. For the sake - Better than average (<10% of industry average) of simplicity, we have colour coded where such 4 - Average (within 10% of industry average) to water-related issues statistics are average, better than average, Legend or below average. - Below average (>10% of industry average) and risks impacting all 1 Figures in this table are estimated water consumption intensities of our Top Mining Assets. Unless otherwise noted, such applicable aspects information has been provided by MineSpans (outside-in modeled data - all rights reserved). 2 Water consumption intensity (i) is provided on a 100% basis, notwithstanding that the applicable operation may be jointly of the mining lifecycle...” owned by the referenced operator, and (ii) applies to the entire project. 3 Source: World Resource Institute’s (WRI) Aqueduct tool. Overall water risk measures all water-related risks, by aggregating all selected indicators from the following Aqueduct categories: Physical Quantity, Quality and Regulatory & Reputational Risk. 3 4 Source: McKinsey global mining industry average water consumption intensity for 2021: 17.1 m /kt ore milled.