2024 Asset Handbook

2 0 2 4 A S S E T H A N D B O O K

Overview

Over view

C O N T E N T S Overview Message to Stakeholders 5 Our History 6 Our Business Model 7 Funding Successful Mines 8 Diversified Portfolio With Low Risk 9 Global Assets 10 Asset Portfolio 12 Historical Performance 14 Track Record 16 Organic Growth Drivers 17 Royalty Optionality 18 Royalty Ounces 19 Precious Metals Royalty Ounces 20 Diversified Royalty Ounces 21 Environmental, Social and Governance Highlights 22 Precious Metals Assets South America 28 Central America & Mexico 38 United States 42 Canada 53 Rest of World 72 Precious Metals Exploration Assets 85 Diversified Assets Iron Ore 92 Other Mining 95 Diversified (Mining) Exploration Assets 104 Energy Assets 106 Energy Exploration Assets 115 Mineral Resources and Mineral Reserves Gold Mineral Resources 118 Gold Mineral Reserves 119 Mineral Resources and Mineral Reserves 120 Additional Information Asset Counts, Acreage of Assets 126 Mine Life Index 127 Board of Directors 128 Executive Management 130 Corporate Organization 131 Non-GAAP Financial Measures 132 Technical and Third-Party Information 134 Forward-Looking Information 135 Glossary 136 Corporate Information 138 This Asset Handbook has not been prepared in connection with the sale of securities and is not an offering memorandum and should not be relied upon as such. This Asset Handbook does not constitute an offer to sell or a solicitation for an offer to purchase any security in any jurisdiction. Information relating to projects, properties and their owners and operators presented in this Asset Handbook has been sourced from the public disclosure of the owners and operators of our assets available as at March 8, 2024 (except where stated otherwise). More current information may become available in our subsequent disclosure and on our website. This Asset Handbook contains information about many of our assets, including those that may not currently be material to us. Also, the description and depiction of our business and assets have been simplified for presentation purposes. Dollar references are in U.S. dollars unless otherwise noted. This Asset Handbook should be read with reference to the explanatory notes and cautionary statements contained in the Additional Information section found at the end of this Asset Handbook. Please also refer to the additional supporting information and explanatory notes found in our Annual Information Form (“AIF”), our annual Management’s Discussion & Analysis (“MD&A“), and our Annual Report on Form 40-F available at www.sedarplus.com and www.sec.gov, respectively, and on our website at www.franco-nevada.com. This Asset Handbook complements but does not form part of such documents. Overview

D E A R S T A K E H O L D E R S Our objective is to build a diversified, top-line business that is a hedge against market volatility and is exposed to the exploration success of the mining industry. This approach has resulted in a history of leading returns, but in late 2023 we were challenged by the unprecedented production halt at Cobre Panama. Despite the hopefully temporary production halt at this asset, our business remains robust. We finished the year with no debt and US$1.4B of cash. The balance of our business continues to generate approximately US$800M in cash flow from operations each year. While the Cobre Panama production halt caused a greater than 20% decline in our share price, our top-line business model still generated industry-leading revenue and cash flow for 2023. Our business is high margin and not impacted by industry cost inflation. In 2023, we generated an 83% Adjusted EBITDA Margin 1 and a 56% Adjusted Net Income Margin 1 . In 2023, we acquired a number of royalty interests principally on gold mines and projects in Canada, Chile, Australia and the USA. A drop in U.S. natural gas prices also allowed us to add to our natural gas royalty interests. We allocate capital on behalf of our shareholders to operations that treat the environment and their host communities responsibly. We receive top-level ratings from the ESG rating agencies and, notably, are the top-ranked company in the Gold sector and in the broader Precious Metals sector by Sustainalytics in 2024. Our objective is to have a sustainable and progressive dividend that is dependable despite commodity price volatility and asset-specific disruptions. In January 2024, our Board increased our dividend for the 17 th consecutive year. Investors from our IPO are now achieving a 9.4% yield in US$ and a 12.9% yield in C$. In terms of growth, Franco-Nevada has organic growth from our existing assets and a strong treasury to facilitate acquisitions. There is also the potential for future contributions from Cobre Panama if operations resume. We expect GEOs from the balance of our business (excluding Cobre Panama) to increase from 498,447 GEOs sold in 2023 to between 540,000 and 600,000 GEOs by 2028 from organic growth alone. Two-thirds of this growth is already under construction. Our portfolio of exploration and development stage royalties also provides resource optionality from the world’s most prospective resource trends. At year-end, we had US$2.4B in available capital, including cash balances, and a committed unused credit facility. We passed on low return deals in the period following COVID-19 and are now fortunate to have a strong treasury in today’s capital-constrained world. We strongly prefer a solution providing for the resumption of operations at Cobre Panama with the support of the Panamanian people and the Government. The mine contributes 4-5% of Panamanian GDP, provides valued jobs to 7,000 direct employees, furnishes support to its local communities and has a strong environmental performance record. The operation has the potential to generate substantial benefits for Panama over several generations. We operate our business with a small team of 40 people and have kept overhead low while our asset base has grown substantially. Our success is a result of a highly capable team and the guidance of an experienced and engaged Board of Directors. They have a material stake in the business and think like owners. Geopolitical risks are an increasing challenge for the mining industry. We remain convinced our business model of maintaining a diversified portfolio with a stronger balance sheet will prove to be the best strategy for shareholders. Thank you for your ongoing trust and support. David Harquail Paul Brink Chair of the Board President & CEO April 10, 2024 Paul Brink (President & CEO), David Harquail (Chair of the Board) 1 Adjusted EBITDA Margin and Adjusted Net Income Margin are Non-GAAP Financial Measures. Refer to the “Non-GAAP Financial Measures” section starting on page 132 of this Asset Handbook Franco-Nevada Corporation ★ 5 TSX / NYSE: FNV Overview

O U R H I S T O R Y Creation of the Royalty Model Franco-Nevada Mining Corporation Limited The history of our business starts with our predecessor company, Franco-Nevada Mining Corporation Limited, founded by Seymour Schulich and Pierre Lassonde. Pierre bought Franco-Nevada’s first royalty in 1986 on the Goldstrike mine in the Carlin Trend. At the time, it was a small heap-leach mine operated by Western States Mining. Shortly thereafter, American Barrick (now Barrick Gold Corporation) purchased Goldstrike and did the deep level exploration that would ultimately reveal a 50 million ounce orebody that drove the success of both Barrick and Franco-Nevada. Pierre and Seymour, assisted by David Harquail, began acquiring royalties in the more prolific gold camps in the world including the Carlin and Getchell trends in Nevada, Timmins and Kirkland Lake camps in Ontario and the Kalgoorlie belt in Australia. They also expanded into PGMs including a royalty on Stillwater in Montana which, along with Goldstrike, stands out as one of their most successful royalty purchases. In the early 1990s as part of their prospect generation model, Franco - Nevada discovered the high-grade Ken Snyder deposit in Nevada. They determined that the deposit had a high enough silver credit to carry all operating costs, creating an effective 100% gold royalty and proceeded to construct the mine. In early 2001, Franco-Nevada sold the mine to Normandy Mining in exchange for 20% of Normandy and a royalty on the mine. Later in 2001, AngloGold made a bid for Normandy. Seeing the potential for a better alternative transaction, Seymour and Pierre struck a deal with Newmont to acquire both Franco-Nevada and Normandy. When the transaction closed in 2002, Franco-Nevada was valued at close to US$3 billion. The IPO Franco-Nevada Corporation (FNV) In 2007, Newmont made the decision to divest its portfolio of royalty assets. Pierre Lassonde, David Harquail and a small team led by management of the original Franco-Nevada, launched an initial public offering on the Toronto Stock Exchange and acquired the royalty portfolio from Newmont for US$1.2 billion. The offering remains the largest mining IPO completed in North America and was the birth of Franco-Nevada Corporation (FNV). The performance of the portfolio of royalties acquired from Newmont has more than justified the price of the IPO. In the past 17 years, the IPO portfolio has paid out over US$2.2 billion in revenue. At the same time, the reserve ounces associated with those same properties has tripled. Key contributors, including Detour Lake and Tasiast, have once again proven the power of the royalty business model and the exploration optionality of being exposed to great geology. Streaming – the New Engine of Growth At the end of 2008, in the depth of the financial crisis, we entered into our first gold streaming agreement with Coeur Mining to complete the construction of the Palmarejo mine in Mexico. Acquiring precious metal streams on large long life copper mines quickly became the largest growth driver of the company. We were able to acquire precious metal streams on Cobre Panama in Panama, Candelaria in Chile, and Antamina and Antapaccay in Peru. Our Unique Approach We avoid having long-term debt, preferring to have capital to invest when others don’t. The commodity downturn of 2014-2016 forced even the largest global mining companies to repair their balance sheets. We invested US$1.8 billion in those years, creating precious metals streams at some of the world’s largest copper mines – Candelaria, Antamina and Antapaccay – and gaining exposure to longer duration assets than can typically be found in the gold industry. We have not forgotten our roots and continue to invest in smaller development-stage assets which over time have tremendous resource optionality. Our total mining asset count has grown from 190 at IPO to 347 today, including exploration assets on some of the world’s best gold belts. We have invested outside of precious metals when good opportunities have come to market, adding cash flow growth and exposure to the exploration upside on a broad range of world- class resources. In 2011, we acquired royalties on a suite of large copper development projects by acquiring Lumina Royalty. Following the oil price collapse in 2014, we added to our long held Canadian oil and gas royalty interests, investing in the major U.S. basins including the Permian, SCOOP/STACK, Marcellus, and Haynesville. Recently, we added royalty exposure to high grade iron ore at Vale’s Northern and Southeastern systems in Brazil. We believe the depth of our portfolio gives us the latitude to patiently search for exposure to good geology. Our desire is to build the most diverse portfolio of royalties and streams exposed to precious metal prices, but also to exploration success across the world’s greatest mineral belts. Our prospects to put more capital to work in the capital intensive and cyclical resource sector have never been better. FRANCO-NEVADA HISTORICAL TSX SHARE PRICE (US$) $50 $100 $150 $200 December 31, 2007 Franco-Nevada TSX Share Price (US$) March 31, 2024 TSX / NYSE: FNV 6 ★ Franco-Nevada Corporation Overview

O U R B U S I N E S S M O D E L As a gold-focused royalty and streaming company, we do not operate mines, develop projects or conduct exploration. We have a unique business that is exposed to both the tremendous resource upside potential, or “optionality” of royalties on gold mines, development projects and exploration properties and the low risk, long life cash flows of precious metals streams on large copper mines. Both royalties and streams provide exposure to commodity prices, increases in production and future discoveries on the property. After our initial investment has been made, neither interest is subject to cash calls to fund exploration, development, capital, environmental or closure costs and so they are lower risk than an operating interest. Royalties Royalties are often 1-2% of the value of future production from a resource property and are typically created as exploration properties change hands. Often royalties are a percentage of the net value a mine operator receives for its product when it is processed at a smelter, hence the term “net smelter return” or “NSR” royalty. Other forms of royalties include profit-related royalties or “NPI” royalties but these are not a major part of Franco-Nevada’s portfolio. Royalty rights are often registered on the title of the property or mineral rights. Registered royalties have strong tenure and, in jurisdictions where recognized, will generally survive an operating company reorganization. Streams Streams have become a mainstream source of capital to mining companies most often to fund the construction of new projects. In particular, streaming precious metals by-product from large copper projects provides a very attractive cost of capital to project developers. Streams are metal purchase agreements where the streamer purchases all or a portion of the gold, silver or other products from a mine in exchange for an upfront payment and an additional payment on each delivery. While streams have similar exploration and price optionality to royalties, they differ from royalties in many respects including the ongoing cash payment required to purchase the physical metal. B U S I N E S S M O D E L A D V A N T A G E S UPSIDE POTENTIAL Optionality Potential for exploration success on ~66,800 km 2 (1) Focus on Growth Management not occupied with operational decisions Free Cash Flow Business Not exposed to capital calls LOW RISK Diversified Portfolio Non-operating business is more scalable High Margins & Low Overhead Strong cash generation throughout the commodity cycle Limited Cost Inflations Streams/NSRs not exposed to cost inflation 1 Cobre Panama currently on preservation and safe management Franco-Nevada Corporation ★ 7 TSX / NYSE: FNV Overview

F I N A N C I N G S U C C E S S F U L M I N E S Royalties and streams provide low-cost and flexible funding for the mining industry. It helps operators reduce the fixed burden of debt and avoid excessive equity dilution, particularly when financing new mine builds. We aim to be a stable and supportive partner through the cycle and to share in the exploration success of the projects that we help fund. PROJECT DEVELOPMENT EMERGING PROJECTS M&A DEBT REDUCTION TSX / NYSE: FNV 8 ★ Franco-Nevada Corporation Overview

D I V E R S I F I E D P O R T F O L I O W I T H L O W R I S K Franco-Nevada has the largest and most diversified portfolio of cash flow producing assets. Geography 85% from Americas 14 Countries 1 The above charts are based on the commodity price and other assumptions used for our 2024 guidance, which is provided on page 17 2024 GEOs DIVERSIFICATION 1 Assets No individual asset > 15% Candelaria Energy Other Antapaccay Antamina Guadalupe-Palmarejo Vale Canada and USA South America Mexico and Central America Rest of the World Gold NGL Other Mining Gas Silver PGM Oil Commodity 75% from Precious Metals Franco-Nevada Corporation ★ 9 TSX / NYSE: FNV Overview

Island Gold Cobre Panama Falcondo Castle Mountain Mesquite Courageous Lake Musselwhite Hemlo Greenstone Detour Lake Midale Weyburn Goldfields Monument Bay Edson Timmins West Sudbury Macassa (Kirkland Lake) Golden Highway Canadian Malartic Nevada Stibnite Gold Cariboo SCOOP Midland Orion Dublin Gulch (Eagle) Red Mountain Delaware STACK Franco-Nevada Head Office Franco-Nevada U.S. Office Marcellus Guadalupe-Palmarejo Brucejack CentroGold (Gurupi) Cerro Moro Taca Taca NuevaUnión (Relincho) San Jorge Antamina Salares Norte Valentine Gold Antapaccay Candelaria Calcatreu Stillwater Cascabel (Alpala) Red Lake (McFinley) Milpillas Haynesville Condestable Carol Lake Vale N. System Vale S.E. System Sossego Posse (Mara Rosa) Eskay Creek Copper World Project Franco-Nevada Barbados Office Caserones Tocantinzinho Magino Crawford Sterling Robinson Bald Mountain Marigold EaglePicher Granite Creek (Pinson) Goldstrike Gold Quarry South Arturo Nevada Ring of Fire Copper Creek Global Assets TSX / NYSE: FNV 10 ★ Franco-Nevada Corporation Overview

Our Portfolio 430 Total 118 Producing 41 Advanced 271 Exploration Diversified Diversified Precious Metals Diversified Precious Metals Mt Keith Duketon Yandal (Bronzewing/Julius) South Kalgoorlie (Mt Martin-Loc. 45) Australia Subika (Ahafo) Tasiast Sabodala Edikan MWS Perama Hill Kiziltepe Karma Sissingué Pandora Franco-Nevada Australia Office Séguéla Aphrodite Matilda (Wiluna) South Kalgoorlie (New Celebration/ Mt Marion Lithium) Only selected assets are shown on this map Asset count as of April 2, 2024 Cobre Panama currently on preservation and safe management Precious Metals “ A diversified portfolio of 430 assets covering ~66,800 km 2 .” Franco-Nevada Corporation ★ 11 TSX / NYSE: FNV Overview

A S S E T P O R T F O L I O Precious Metals Revenue ($ millions) Asset Operator Interest and % (Gold unless otherwise noted) 2023 2022 2021 Notes Precious Metals South America Candelaria Lundin Mining Stream 68% Gold & Silver $130.3 $125.8 $116.5 6, P Antapaccay Glencore Stream (indexed) Gold & Silver 120.1 95.2 111.6 6, P Antamina Teck Resources Stream 22.5% Silver 50.5 68.4 94.1 6, P Condestable Southern Peaks Mining Stream Gold & Silver, Fixed through 2025 then % 7 23.7 22.4 22.5 6, P Other (21 assets) 5.2 6.3 6.2 Px3, Ax5, Ex13 Central America & Mexico Cobre Panama First Quantum Stream (indexed) Gold & Silver 248.9 223.3 235.0 6, P Guadalupe-Palmarejo Coeur Mining Stream 50% 66.8 74.2 83.4 1, 3, 6, P Other (1 asset) – – – Ex1 United States Stillwater Sibanye-Stillwater NSR 5% PGM 26.1 36.8 57.8 1, P Goldstrike Nevada Gold Mines NSR 2-4%, NPI 2.4-6% 13.1 19.2 25.3 1, 2, P Marigold SSR Mining NSR 1.75-5%, GR 0.5-4% 11.2 7.5 8.5 1, 2, 3, 4, P Bald Mountain Kinross Gold NSR/GR 0.875-5% 11.7 8.4 11.2 1, 2, 3, 4, P Gold Quarry Nevada Gold Mines NSR 7.29% 3.0 4.9 7.5 1, 3, P Other (43 assets) 6.9 9.5 12.5 Px4, Ax4, Ex35 Canada Detour Lake Agnico Eagle Mines NSR 2% 25.9 26.3 25.3 P Sudbury KGHM International Stream 50% PGM & Gold 17.6 21.4 17.4 1, 6, Px2 Hemlo Barrick Gold NSR 3%, NPI 50% 22.7 28.2 27.6 1, 5, P Brucejack Newmont NSR 1.2% 5.9 5.8 7.0 1, P Macassa (Kirkland Lake) Agnico Eagle Mines NSR 1.5-5.5%, NPI 20% 6.3 5.5 5.8 2, 3, P Other (77 assets) 13.9 10.4 10.3 Px6, Ax13, Ex58 Rest of World MWS Harmony Gold Mining Stream 25% 50.4 39.2 41.3 6, P Tasiast Kinross Gold NSR 2% 24.5 18.3 6.7 P Subika (Ahafo) Newmont NSR 2% 19.4 18.0 11.6 1, P Sabodala Endeavour Mining Stream 6%, Fixed to 105,750 oz 8 18.3 16.8 16.7 3, 6, P Duketon Regis Resources NSR 2% 12.0 10.7 11.1 1, P Other (74 assets) 16.5 17.2 22.8 Px13, Ax10, Ex51 Revenue – Precious Metals $950.9 $919.7 $995.7 Notes: “NSR” Net Smelter Return Royalty “GORR” Gross Overriding Royalty “GR” Gross Royalty “ORR” Overriding Royalty “FH” Freehold or Lessor Royalty “NPI” Net Profits Interest “NRI” Net Royalty Interest “WI” Working Interest “P” “Producing” assets are those that have generated revenue from steady-state operations for Franco - Nevada or are expected to in the next year “A” “Advanced” assets are interests on projects which are not yet producing but where, in management’s view, the technical feasibility and commercial viability of extracting Mineral Resources are demonstrable “E” “Exploration” assets represent interests on projects where technical feasibility and commercial viability of extracting Mineral Resources are not demonstrable Management uses the following criteria in its assessment of technical feasibility and commercial viability: (i) Geology: there is a known mineral deposit which contains Mineral Resources or Mineral Reserves; or the project is adjacent to a mineral deposit that is already being mined or developed and there is sufficient geologic certainty of converting the deposit into Mineral Resources or Mineral Reserves (ii) Accessibility and authorization: there are no significant unresolved issues impacting the accessibility and authorization to develop or mine the mineral deposit, and social, environmental and governmental permits and approvals to develop or mine the mineral deposit appear obtainable TSX / NYSE: FNV 12 ★ Franco-Nevada Corporation Overview

A S S E T P O R T F O L I O Diversified 1 Does not cover all the Mineral Resources or Mineral Reserves reported for the property by the operator 2 Percentage varies depending on the claim block of the property 3 Provides for minimum or advance payments 4 Percentage varies depending on the commodity price or value of ore 5 Payable after operator recovers defined exploration and development expenses 6 These revenue numbers are before the deduction of the purchase cost per ounce 7 8,760 oz Au & 291,000 oz Ag per year until December 2025; then, 63% Au & Ag until 87,600 oz Au & 2,910,000 oz Ag delivered, respectively; thereafter, 25% Au & Ag 8 Sabodala agreement was amended with an effective date of September 1, 2020 9 Net sales royalty attributable to FNV Royalty holding on certain properties and subject to certain thresholds. Copper/Gold rate applies to Sossego at 50% given its previous joint venture ownership 10 GORR and IOC equity interest attributable to FNV 9.9% equity ownership of Labrador Iron Ore Royalty Corporation Revenue ($ millions) Asset Operator Interest and % 2023 2022 2021 Notes Diversified Vale Vale 0.264% Iron Ore, 0.367% Copper/Gold, 0.147% Other 9 $35.1 $40.7 $59.4 Px3, Ex1 LIORC Rio Tinto GORR 0.7% Iron Ore, IOC Equity 1.5% 10 12.1 14.8 30.2 P Other Mining (104 assets) 13.2 6.9 5.2 Px10, Ax9, Ex85 United States (Energy) Marcellus Range Resources GORR 1% 28.0 56.5 36.1 P Haynesville Various Various Royalty Rates 26.0 72.9 38.5 Px2 SCOOP/STACK Various Various Royalty Rates 33.1 57.8 36.4 Px3 Permian Basin Various Various Royalty Rates 47.6 52.6 35.0 Px2 Other (2 assets) 0.3 0.3 0.2 Px1, Ex1 Canada (Energy) Weyburn Unit Whitecap Resources NRI 11.71%, ORR 0.44%, WI 2.56% 50.1 65.0 43.8 Px3 Orion Strathcona Resources GORR 4% 13.6 15.1 10.8 P Other (69 assets) 9.0 13.4 8.7 Px43, Ex26 Revenue – Diversified $268.1 $396.0 $304.3 Total Revenue (Precious Metals + Diversified) $1,219.0 $1,315.7 $1,300.0 Franco-Nevada Corporation ★ 13 TSX / NYSE: FNV Overview

H I S T O R I C A L P E R F O R M A N C E 2 0 2 3 – 2 0 0 8 1 Starting in Q4 2021, revenue from Franco-Nevada’s Energy assets are included in the calculation of Gold Equivalent Ounces (“GEOs”). GEOs for comparative periods have been recalculated to conform with the current presentation. GEOs include Franco-Nevada’s attributable share of production from our Mining and Energy assets, after applicable recovery and payability factors. GEOs are estimated on a gross basis for NSR royalties and, in the case of stream ounces, before the payment of the per ounce contractual price paid by the Company. For NPI royalties, GEOs are calculated taking into account the NPI economics. Silver, platinum, palladium, iron ore, oil, gas and other commodities are converted to GEOs by dividing associated revenue, which includes settlement adjustments, by the relevant gold price. The price used in the computation of GEOs earned from a particular asset varies depending on the royalty or stream agreement, which may make reference to the market price realized by the operator, or the average price for the month, quarter, or year in which the commodity was produced or sold 2 Adjusted Net Income, Adjusted Net Income per share, Adjusted EBITDA, and Adjusted EBITDA per share are non-GAAP financial measures with no standardized meaning under International Financial Reporting Standards (“IFRS Accounting Standards”) and might not be comparable to similar financial measures disclosed by other issuers. Refer to the “Non-GAAP Financial Measures” section starting on page 132 of this Asset Handbook 3 Fiscal years 2010 through 2023 were prepared in accordance with IFRS Accounting Standards. Fiscal years 2008 and 2009 were prepared in accordance with Canadian GAAP . Comparative information has been adjusted to conform to current presentation 4 The Company defines Working Capital as current assets less current liabilities 5 As at December 31 GOLD EQUIVALENT OUNCES SOLD 1 (000s) REVENUE (US$ MILLIONS) OPERATING CASH FLOW (US$ MILLIONS) – 100 200 300 400 500 600 700 800 ‘22 ‘23 ‘21 ‘20 ‘19 ‘18 ‘17 ‘16 ‘15 ‘14 ‘13 ‘12 ‘11 ‘10 ‘09 ‘08 – 200 400 600 800 1,200 1,000 $1,400 ‘22 ‘23 ‘21 ‘20 ‘19 ‘18 ‘17 ‘16 ‘15 ‘14 ‘13 ‘12 ‘11 ‘10 ‘09 ‘08 (in millions, except GEOs, Total Shareholders’ Equity, Market Capitalization, and per share amounts) 2023 3 2022 3 2021 3 2020 3 2019 3 2018 3 2017 3 GEOs 1 sold (000s) 627.0 730.0 728.2 573.3 598.4 516.6 537.7 Revenue $ 1,219.0 $ 1,315.7 $ 1,300.0 $ 1,020.2 $ 844.1 $ 653.2 $ 675.0 Operating (Loss) Income $ (428.0) $ 820.7 $ 860.7 $ 336.5 $ 410.2 $ 188.8 $ 235.4 Net (Loss) Income $ (466.4) $ 700.6 $ 733.7 $ 326.2 $ 344.1 $ 139.0 $ 194.7 Basic (Loss) Earnings per share $ (2.43) $ 3.66 $ 3.84 $ 1.71 $ 1.83 $ 0.75 $ 1.06 Adjusted Net Income 2 $ 683.1 $ 697.6 $ 673.6 $ 516.3 $ 341.5 $ 217.0 $ 198.3 Adjusted Net Income2 per share $ 3.56 $ 3.64 $ 3.52 $ 2.71 $ 1.82 $ 1.17 $ 1.08 Adjusted EBITDA 2 $ 1,014.7 $ 1,106.9 $ 1,092.3 $ 839.6 $ 673.4 $ 519.6 $ 516.1 Adjusted EBITDA 2 per share $ 5.28 $ 5.78 $ 5.72 $ 4.41 $ 3.59 $ 2.79 $ 2.82 Dividends declared (including DRIP) $ 262.1 $ 245.8 $ 221.4 $ 197.2 $ 187.0 $ 177.8 $ 167.9 Dividends declared per share $ 1.36 $ 1.28 $ 1.16 $ 1.03 $ 0.99 $ 0.95 $ 0.91 Working Capital 4 $ 1,576.1 $ 1,332.9 $ 708.2 $ 610.5 $ 225.3 $ 153.5 $ 593.8 Debt $ Nil $ Nil $ Nil $ Nil $ 80.0 $ 207.6 $ Nil Total Shareholders’ Equity $ 5.8B $ 6.4B $ 6.0B $ 5.4B $ 5.1B $ 4.6B $ 4.7B Market Capitalization 5 $ 21.3B $ 26.1B $ 26.5B $ 23.9B $ 19.6B $ 13.1B $ 14.9B – 200 400 600 800 1000 1200 '23 '22 '21 '20 '19 '18 '17 '16 '15 '14 '13 '12 '11 '10 '9 '8 TSX / NYSE: FNV 14 ★ Franco-Nevada Corporation Overview

2016 3 2015 3 2014 3 2013 3 2012 3 2011 3 2010 3 2009 3 2008 3 488.5 384.5 351.6 290.4 254.7 260.6 185.4 158.2 167.8 $ 610.2 $ 443.6 $ 442.4 $ 400.9 $ 427.0 $ 411.2 $ 227.2 $ 199.7 $ 151.0 $ 155.4 $ 51.3 $ 155.8 $ 77.7 $ 146.7 $ 45.5 $ 87.3 $ 87.4 $ 38.1 $ 122.2 $ 24.6 $ 106.7 $ 11.7 $ 102.6 $ (6.8) $ 62.7 $ 80.9 $ 40.3 $ 0.70 $ 0.16 $ 0.71 $ 0.08 $ 0.72 $ (0.05) $ 0.55 $ 0.76 $ 0.41 $ 164.4 $ 88.9 $ 137.5 $ 138.3 $ 171.0 $ 136.0 $ 52.1 $ 32.0 $ 43.7 $ 0.94 $ 0.57 $ 0.91 $ 0.94 $ 1.19 $ 1.08 $ 0.46 $ 0.30 $ 0.48 $ 489.1 $ 337.1 $ 356.0 $ 319.9 $ 347.5 $ 327.3 $ 180.0 $ 119.4 $ 127.2 $ 2.79 $ 2.37 $ 2.18 $ 2.43 $ 2.61 $ 1.58 $ 1.12 $ 1.30 $ 2.15 $ 156.8 $ 129.0 $ 118.0 $ 104.4 $ 77.9 $ 49.2 $ 33.3 $ 28.2 $ 21.8 $ 0.87 $ 0.83 $ 0.78 $ 0.72 $ 0.54 $ 0.32 $ 0.29 C$ 0.28 C$ 0.24 $ 323.6 $ 253.9 $ 677.8 $ 861.2 $ 822.4 $ 851.1 $ 572.7 $ 530.7 $ 239.1 $ Nil $ 457.3 $ Nil $ Nil $ Nil $ Nil $ Nil $ Nil $ Nil $ 4.1B $ 3.2B $ 3.4B $ 3.0B $ 3.1B $ 2.8B $ 2.0B $ 1.9B $ 1.4B $ 10.7B $ 7.2B $ 7.7B $ 6.0B $ 8.3B $ 5.3B $ 3.8B $ 3.2B $ 1.7B MARKET CAPITALIZATION 5 (US$ BILLIONS) G&A (% OF CAPITALIZATION) ADJUSTED NET INCOME PER SHARE 2 (US$ PER SHARE) 5 10 15 20 25 30 ‘22 ‘23 ‘21 ‘20 ‘19 ‘18 ‘17 ‘16 ‘15 ‘14 ‘13 ‘12 ‘11 ‘10 ‘09 ‘08 – 0.2% – 0.4% 0.6% 0.8% 1.0% ‘22 ‘23 ‘21 ‘20 ‘19 ‘18 ‘17 ‘16 ‘15 ‘14 ‘13 ‘12 ‘11 ‘10 ‘09 ‘08 0.50 – 1.00 1.50 2.00 2.50 3.00 3.50 4.00 ‘22 ‘23 ‘21 ‘20 ‘19 ‘18 ‘17 ‘16 ‘15 ‘14 ‘13 ‘12 ‘11 ‘10 ‘09 ‘08 Franco-Nevada Corporation ★ 15 TSX / NYSE: FNV Overview

-5% 0% 5% 10% 15% NASDAQ S&P 500 Gold Bullion ETF Barclays US Aggregate Bond Franco-Nevada (FNV) US$ basis GDX (index of mostly gold miners) T R A C K R E C O R D C A G R S I N C E F N V I N C E P T I O N 1 , 2 , 3 “ Since its IPO in 2007, Franco-Nevada has outperformed all the relevant benchmarks.” 1 FNV Inception - December 20, 2007 2 Compounded annual total returns to March 31, 2024 3 Source: TD Securities; Bloomberg 1-Year 2-Year 5-Year Since FNV Total Return Total Return Total Return Inception 1 Franco-Nevada (US$) 2 (17.1%) (11.6)% 10.7% 14.9% NASDAQ 40.9% 7.8% 17.4% 13.1% S&P 500 34.3% 8.9% 15.2% 10.4% Gold Bullion ETF 3 12.1% 7.2% 11.0% 6.1% Barclays US Aggregate Bond 4 2.4% (1.2%) 0.3% 2.7% GDX (index of mostly gold miners) (0.5%) (6.9%) 8.5% (1.0%) Note: Total return assumes reinvestment of dividends over designated period Source: TD Securities; Bloomberg 1 Compounded annual total returns from December 20, 2007 to March 31, 2024 2 Since FNV inception returns in US$ are calculated assuming an initial cost of US$15.21 (based on an IPO price of C$15.20 and CAD/USD of 1.0009 on December 20, 2007). All other index returns are in US$ 3 SPDR Gold Trust 4 Bloomberg Barclays US Aggregate Bond Index TSX / NYSE: FNV 16 ★ Franco-Nevada Corporation Overview

Two-thirds of 5-year Growth is Already Under Construction 1 2024 Guidance and 2028 Outlook as published on March 5, 2024 in Franco-Nevada's 2023 Annual Report. Assuming: $1,950/oz Au, $22.50/oz Ag, $850/oz Pt, $900/oz Pd, $115/tonne Fe 62% CFR China, $75/bbl WTI oil and $2.50/mcf Henry Hub natural gas 2 Expansion periods are based on operators’ indicated period of ramp-up 3 Indicated start periods are based on operators’ guidance and FNV best estimates O R G A N I C G R O W T H D R I V E R S Over the last 17 years, Franco-Nevada's annual GEO sales have grown 3.5 times both through organic expansions and acquisitions. We have a strong pipeline of opportunities to add further growth through acquisitions. Our guidance 1 is for total GEO sales of 480,000 to 540,000 GEOs in 2024 growing to 540,000 to 600,000 GEOs by 2028 through organic growth alone. Expansion 2 Subika to 2024 Macassa (Kirkland Lake) to 2024 Island Gold to 2026 Vale to 2026 Detour Lake to 2027 Under Construction 3 Greenstone 2024 Tocantinzinho 2024 Valentine Gold 2025 Recent Mine Starts Séguéla 2023 Magino 2023 Yandal (Bronzewing) 2023 Posse (Mara Rosa) 2024 Salares Norte 2024 Permitting 3 Eskay Creek 2027 Copper World Project 2028 Stibnite Gold 2028 Castle Mountain (Phase 2) 2028 Franco-Nevada Corporation ★ 17 TSX / NYSE: FNV Overview

R O Y A L T Y O P T I O N A L I T Y Numerous exploration and development stage assets are expected to drive long-term growth. In particular, we have royalties on the next generation copper assets: Cascabel (Alpala) in Ecuador, Copper World Project in Arizona, Taca Taca in Argentina, and NuevaUnión and Vizcachitas both in Chile. We also have royalties that cover much of the Ring of Fire in Northern Ontario which hosts some of the world’s largest chromite resources, along with nickel, copper and gold deposits. Another asset with large scale potential is the Crawford nickel deposit that is being delineated in Ontario. We profile all these assets in this Asset Handbook, although the profiles are not exhaustive. In addition to the profiled assets, we have another 243 exploration assets which are listed on pages 85-87 and pages 104-105. There is no doubt there will be more discoveries in the coming years from the ~66,800 km 2 (1) that our portfolio covers across the best mineral trends in the world. The optionality value of the portfolio is difficult to measure. The example below, however, gives an indication of how this optionality has played out historically. 1 Cobre Panama currently on preservation and safe management 2 Total gold reserves associated with the top 37 assets at the time of IPO (not adjusted for FNV royalty ownership). All Mineral Reserves have been calculated in accordance with CIM or acceptable foreign codes for the purposes of NI 43-101, including Regulation S-K 1300, SEC Industry Guide 7, JORC, or SAMREC guidelines 3 Revenue from original FNV portfolio includes gold, platinum and palladium revenue as at December 31, 2023 4 Calculation includes depletion 0 20 40 60 80 100 120 2023 2008 – 2023 2007 Gold Reserves 2 at time of IPO Proven and Probable Mineral Reserves (Moz) >48 Moz gold produced IPO $1.2B paid for portfolio Gold Reserves 2 of same assets as reported December 2023 Reserves increase at no cost >$2.2 billion 3 revenue to Franco-Nevada from portfolio 3.5x increase 4 TSX / NYSE: FNV 18 ★ Franco-Nevada Corporation Overview

R O Y A L T Y O U N C E S Why We Measure “Royalty Ounces” Franco-Nevada’s mining properties that have reported Mineral Resources and Mineral Reserves are tabulated in the Mineral Resources and Mineral Reserves appendix of this Asset Handbook. Unless otherwise noted in the Royalty Ounce calculation for each asset, the figures are tabulated based on the publicly disclosed reports of each operator for each property on a 100% basis. However, the tabulation does not provide a specific measure for Franco-Nevada’s interest in such Mineral Resources and Mineral Reserves for the following reasons: • Royalty and stream interests have different economics than an operator has for its stated Mineral Resources and Mineral Reserves. In addition, the economics differ between NSR, NPI and stream interests • Some assets do not cover the entire property associated with the operator’s publicly reported figures To account for the above, we calculate “Royalty Ounces” to estimate the value attributable to Franco-Nevada due to our economic interest in the Mineral Resources and Mineral Reserves of our portfolio. The value of a Royalty Ounce is normalized to that of a gold NSR ounce. How We Estimate “Royalty Ounces” A traditional NSR royalty on a gold mining property provides Franco- Nevada with a simple percentage of the revenue or gold in-kind produced from that property. For example, if we have a 2% NSR royalty on a property, we calculate 2% of the stated Mineral Resources and Mineral Reserves as our “Royalty Ounces”. Note we do not make adjustments for recoveries and refining fees for gold NSRs as they are typically minor. When calculating Royalty Ounces for a property our objective is that they should be comparable to an attributable gold NSR Royalty Ounce. To achieve comparable Royalty Ounce figures, we make adjustments in the following circumstances: 1. The royalty or stream does not cover all the Mineral Resources or Mineral Reserves on a property: We provide our best estimate of the percentage of Mineral Resources and Mineral Reserves that are attributable to our interest. 2. A stream interest with an associated ongoing cost per ounce: The number of attributable stream ounces are factored to make them economically equivalent to a NSR ounce. For example as illustrated on this page, at an $1,950 per ounce gold price and a $400 cost per ounce, the stream ounces are factored by 79.5%. The factor depends on cost per ounce or the percentage margin written in the agreement. 3. A NPI royalty: A NPI is subject to the operating and capital costs specific to each asset. We generate our own internal mine life projections for each asset to determine a reasonable estimate of the economic equivalent of a gold NSR Royalty Ounce using an $1,950 gold price assumption. 4. An asset producing silver, PGM or base/bulk metal: The number of attributable silver, platinum or palladium ounces, and attributable base/bulk metals pounds/tonnes are converted into Royalty Ounces. This year’s pricing assumptions for conversion include: $1,950 per ounce gold, $22.50 per ounce silver, $850 per ounce platinum, $900 per ounce palladium, $3.75 per pound copper, $7.89 per pound nickel, $1.21 per pound ferrochrome and $115/t Fe 62% CFR China for our calculations. For copper, nickel, ferrochrome and iron ore Royalty Ounce calculations, we do reflect deductions for processing and refining as they are more material compared to a typical gold NSR asset. In the Assets section of this Asset Handbook, we provide details for each asset that include summary figures for the Mineral Resources (M&I Resources inclusive of P&P Reserves), Mineral Reserves (P&P Reserves) and Inferred Mineral Resources (Inferred Resources). We also provide the related M&I Royalty Ounces, P&P Royalty Ounces and Inferred Royalty Ounces for each of those assets and the key guidance and assumptions that were required to derive those Royalty Ounces. Readers are cautioned that the Royalty Ounces are prepared by the management of Franco-Nevada and have not been reviewed or endorsed by the operators of the projects. Example Economics of a Royalty (NSR or NPI) versus a Stream The example below compares the relative value per ounce to Franco- Nevada of an NSR, a stream or an NPI or WI. Assume for one ounce of gold, a sales price of $1,950, a “stream cost” 1 of $400 per ounce and that the “all-in sustaining cost” 2 of the mine is $1,335 per ounce. NSR Stream Developed NPI or WI 1 One ounce sold at $ 1,950 $ 1,950 $ 1,950 Applicable cost $ – $ 400 1 1,335 2 Margin for calculation $ 1,950 $ 1,550 $ 615 NSR, Stream or NPI % $ 4% $ 4% 4% Revenue per ounce to FNV $ 78 $ 62 $ 25 Value relative to an NSR 1.0x 0.79x 0.32x 1 Franco-Nevada’s streams have various ongoing costs. In some cases, it is $400 per ounce plus a 1% annual increment, in other cases it is 20% of the spot price of gold. For each stream, Franco-Nevada indicates the detail for ongoing costs 2 For applicable costs for a developed NPI or WI, Franco-Nevada is, for illustrative purposes, assuming Barrick Gold Corporation’s (“Barrick”) 2023 all-in sustaining cash cost measure, as Barrick is the operator of two assets at which Franco-Nevada has NPI interests Franco-Nevada Corporation ★ 19 TSX / NYSE: FNV Overview

P R E C I O U S M E T A L S R O Y A L T Y O U N C E S 1 , 2 Asset Asset Type P&P (000s) M&I 4 (000s) Inf (000s) South America Candelaria Stream 665 1,586 145 Antapaccay Stream 333 712 32 Antamina Stream 134 522 492 Condestable Stream 85 147 12 Cerro Moro NSR 8 12 4 Salares Norte NSR 39 42 1 Cascabel (Alpala) 3 NSR 213 769 127 Posse (Mara Rosa) NSR 9 12 – CentroGold (Gurupi) NSR 11 17 6 Calcatreu NSR – 19 10 Tocantinzinho Stream 204 210 5 Pascua-Lama NSR – 454 19 Volcan NSR – 147 19 San Jorge NSR – 91 4 Central America and Mexico 5 Guadalupe-Palmarejo Stream 209 556 110 United States Stillwater NSR 529 886 878 Carlin Trend NSR/NPI 215 354 137 Marigold NSR 70 113 9 Bald Mountain NSR 19 157 18 Mesquite NSR 11 19 9 Castle Mountain NSR 118 159 40 Fire Creek/Midas NSR – 2 83 Hollister NSR – 2 8 Stibnite Gold NSR 82 107 27 Nevada North (Wildcat & Mountain View) NSR – 13 2 Sleeper NSR – 43 26 Sandman NSR – 1 – Canada Detour Lake NSR 399 758 54 Sudbury Stream 24 24 – Hemlo NSR/NPI 64 120 23 Brucejack NSR 37 43 48 Macassa (Kirkland Lake) NSR/NPI 33 64 57 Dublin Gulch (Eagle) NSR 24 43 5 Musselwhite NPI 24 28 3 Timmins West NSR 11 15 2 Gold River NSR – 3 23 Canadian Malartic NSR 25 26 37 Island Gold NSR 9 11 10 Golden Highway - Holt Complex NSR – 131 86 Golden Highway - Hislop NSR – 7 4 Golden Highway - Aquarius NSR – 22 – Greenstone NSR 166 210 92 Valentine Gold NSR 81 119 33 Eskay Creek NSR 109 140 2 Magino NSR 71 137 25 Spences Bridge (Shovelnose) NSR – 13 3 Wawa NSR – 3 7 Kerr-Addison NSR – 18 34 Clarence Stream NSR – 9 13 Red Lake (McFinley) NSR 1 5 3 Courageous Lake NSR 29 112 39 Goldfields NSR – 20 4 Monument Bay NSR – 44 53 Red Mountain NSR 5 8 1 Fenelon-Martiniere NSR – 37 30 Marathon (Sally) NSR – 5 2 1 For information regarding the calculation of each Royalty Ounce, please refer to the individual asset write-ups. We have assumed $1,950/oz Au, $22.50/oz Ag, $850/oz Pt, $900/oz Pd, $3.75/lb copper, $7.89/lb nickel, $1.21/lb ferrochrome and $115/t Fe 62% CFR China for our calculations 2 Metallurgical deductions have not been made to the Mineral Reserves and Mineral Resources shown in order to estimate metal produced 3 Copper Royalty Ounces assume NSR deductions of 15% (for Sossego please refer to the Vale asset write-up); Nickel Royalty Ounces and Ferrochrome Royalty Ounces assume NSR deductions of 30%. Please also refer to the individual Vale (Northern & Southeastern System) & LIORC asset write-ups for the deductions applied to the Iron Ore Royalty Ounces 4 M&I Royalty Ounces include P&P Royalty Ounces 5 Cobre Panama, currently on preservation and safe management, is not included in the above calculations. Franco-Nevada estimates that P&P royalty ounces, M&I 4 royalty ounces and Inf royalty ounces would be 4,468 koz, 4,673 koz and 745 koz, respectively, as per First Quantum’s March 28, 2023 Annual Information Form as at December 31, 2022 TSX / NYSE: FNV 20 ★ Franco-Nevada Corporation Overview

Asset Asset Type P&P (000s) M&I 4 (000s) Inf (000s) Rest of World MWS Stream 18 18 – Sabodala Stream 60 111 31 Tasiast NSR 101 140 30 Subika (Ahafo) NSR 63 66 12 Karma Stream 6 74 26 Duketon NSR 17 31 10 Edikan NSR 12 25 4 Matilda (Wiluna) NSR 12 72 128 South Kalgoorlie NSR 12 46 31 Kiziltepe NSR 2 3 2 Sissingué NSR – – – Pandora NPI 18 154 19 Yandal (Bronzewing) NSR 20 36 5 Aphrodite NSR 8 29 13 Rebecca NSR – 17 4 Séguéla NSR 7 9 1 Perama Hill NSR 20 27 16 A ğ i Da ğ i NSR 23 44 6 Bullabulling NSR – 11 5 Glenburgh NPI – 2 – D I V E R S I F I E D R O Y A L T Y O U N C E S 1 , 2 Mining 3 Vale (Northern & Southeastern System) Other 797 1,094 63 Sossego Other 3 20 1 LIORC Other 165 296 124 NuevaUnión (Relincho) NSR 248 346 141 Taca Taca NSR 356 433 99 Falcondo NPI 68 77 5 Copper World Project NSR 156 380 66 Caserones NSR 51 80 8 Robinson NSR 5 18 1 Ring of Fire NSR – 188 53 Eagle's Nest NSR – 12 8 Crawford NSR 473 754 465 Mt Keith NSR/NPI 14 33 4 Refer to footnotes on page 20 R O Y A L T Y O U N C E S B Y M I N E R A L R E S O U R C E , L O C A T I O N A N D T Y P E 1 1 Cobre Panama, currently on preservation and safe management, is not included in the above calculations 2 M&I Royalty Ounces include P&P Royalty Ounces Royalty Ounces by MINERAL RESOURCE CATEGORY M&I Royalty Ounces 2 by LOCATION M&I Royalty Ounces 2 by TYPE P&P 37% M&I 39% Inferred 24% South America 48% Central America and Mexico 5% United States 16% Canada 24% Rest of World 7% NSR 58% Stream 28% NPI 4% Other 10% Franco-Nevada Corporation ★ 21 TSX / NYSE: FNV Overview

E N V I R O N M E N T A L , S O C I A L A N D G O V E R N A N C E H I G H L I G H T S Franco-Nevada’s 2024 ESG Report is available on our website. Highlights from the report are summarized below. DUE DILIGENCE TO INVEST IN STRONG ESG PERFORMERS Our principal ESG-related focuses when making investments are highlighted in our 2024 ESG Report, including health and safety, carbon footprint, water management and risk, tailings management and biodiversity. We have also assessed how the operators of our top revenue-generating mining assets have performed in each of these five categories. INCREASED COMMUNITY CONTRIBUTIONS AND COMMITMENTS Our community contributions funded increased year-over-year, including our renewed Enseña Peru funding in Peru and new contributions in Brazil, Senegal, the United States, and Canada. We continue to support mining industry groups and diversity initiatives. FOCUS ON EMPLOYEE WELL-BEING AND ACCOMMODATIONS We have highlighted the efforts made by our organization to promote the physical and mental well-being of our employees, including providing hybrid work arrangements, health benefits, wellness allowances, accommodations for cultural and religious beliefs, and the ability to disconnect when not working. FURTHERED DIVERSE REPRESENTATION AND DIVERSITY INITIATIVES We achieved our goal to have 40% diverse persons at the Board and senior management levels (as a group) ahead of schedule. The number of Franco-Nevada Diversity Scholarship awards increased in 2023, with five new students from four Canadian universities receiving scholarships. Franco-Nevada’s Barbados team celebrates African Awareness Month "We achieved our goal to have 40% diverse persons at the Board and senior management levels (as a group) ahead of schedule" NEW EMISSION REDUCTION TARGETS We have adopted emission reduction targets for our corporate emissions in line with our goal to achieve net-zero emissions by 2050 or sooner. The targets include a 42% reduction of our Scope 1 and 2 emissions by 2030 and a 30% reduction of our overall corporate emissions (Scope 1, 2 and 3, excluding financed emissions) by 2030, each from a 2023 base year. We have advanced the implementation of measures and programs to reduce our carbon footprint in furtherance of our emission reduction targets. TSX / NYSE: FNV 22 ★ Franco-Nevada Corporation Overview

OUR SCOPE 3 EMISSIONS INCLUDE FINANCED EMISSIONS We have measured and disclosed financed emissions attributable to our royalty and stream interests, included as Scope 3, Category 15 (Investments) emissions. In our 2024 ESG Report, we include a primer for navigating the Greenhouse Gas Protocol standards, including what comprises Scope 1, 2 and 3 emissions. MAINTAINED CARBON NEUTRALITY FOR CORPORATE EMISSIONS Since 2020, we have maintained carbon neutrality for our corporate operations. We have accomplished this, and will continue to do so through the reduction of our corporate emissions and the purchase of high quality carbon credits to offset emissions that cannot be eliminated. ALIGNMENT OF ESG REPORTING WITH TCFD, SASB AND GRI Our ESG disclosure is aligned with leading reporting standards and frameworks, including the Sustainability Accounting Standards Board and Global Reporting Initiative standards and the Task Force on Climate-related Financial Disclosures framework. INITIATIVES ALIGNED WITH UN SUSTAINABLE DEVELOPMENT GOALS Initiatives across our business help advance a number of the Sustainable Development Goals, which were adopted by the United Nations in 2015 as a universal call to action to end poverty, protect the planet, and ensure that by 2030 all people enjoy peace and prosperity. CONTINUED HIGH RANKINGS AND RECOGNITION FROM ESG RATING AGENCIES We continue to receive recognition for our ESG efforts and rank highly with top ESG rating agencies. Franco-Nevada is the #1 ranked precious metals company and the #1 ranked gold company by Sustainalytics. We are rated “AA” by MSCI and “Prime” by ISS ESG. Commerce Court West, Toronto Franco-Nevada Corporation ★ 23 TSX / NYSE: FNV Overview

TSX / NYSE: FNV 24 ★ Franco-Nevada Corporation

P r e cious Metals

P R E C I O U S M E T A L S / D I V E R S I F I E D A S S E T S I N D E X – R E G I O N A L Rest of World 72 Séguéla (Au) 73 MWS (Au) 74 Sabodala (Au) 75 Tasiast (Au) 76 Subika (Ahafo) (Au) 77 Karma (Au) 78 Duketon (Au) 79 Edikan (Au) 80 Yandal (Bronzewing) (Au) 81 Matilda (Wiluna) (Au) 82 Kiziltepe (Au & Ag) 82 South Kalgoorlie (Au) 83 Sissingué (Au) 83 Pandora (PGM) 83 Aphrodite (Au) 84 Perama Hill (Au) 84 Precious Metals Exploration Assets 85 DIVERSIFIED Vale (Iron Ore, Cu, Au & Other) 92 LIORC (Iron Ore) 94 Other Mining 95 NuevaUnión (Relincho) (Cu, Au & Mo) 95 Taca Taca (Cu, Au & Mo) 96 Caserones (Cu & Mo) 97 Copper World Project (Cu, Mo, Ag & Au) 98 Ring of Fire (Cr, Ni, Cu & PGM) 99 Mt Keith (Ni) 100 Crawford (Ni, Co, Cr & PGM) 101 Robinson (Cu, Mo, Ag & Au) 101 EaglePicher (De) 102 Copper Creek (Cu, Mo & Ag) 102 Milpillas (Cu) 102 Diversified (Mining) Exploration Assets 104 U.S. Energy 108 Marcellus 108 Haynesville 109 SCOOP/STACK 110 Permian Basin 111 Canadian Energy 112 Weyburn Unit 112 Orion 113 Other Producing Energy Assets 114 Energy Exploration Assets 115 PRECIOUS METALS South America 28 Candelaria (Au & Ag) 29 Antapaccay (Au & Ag) 30 Antamina (Ag) 31 Condestable (Au & Ag) 32 Tocantinzinho (Au) 33 Cerro Moro (Au & Ag) 34 Salares Norte (Au & Ag) 35 Cascabel (Alpala) (Au, Cu, Ag) 36 Posse (Mara Rosa) (Au) 37 CentroGold (Gurupi) (Au) 37 Calcatreu (Au & Ag) 37 San Jorge (Au) 37 Central America & Mexico 38 Cobre Panama (Au & Ag) 39 Guadalupe-Palmarejo (Au) 41 United States 42 Stillwater (PGM) 43 Goldstrike (Au) 44 Gold Quarry (Au) 45 Marigold (Au) 46 Bald Mountain (Au) 47 South Arturo (Au) 48 Mesquite (Au) 49 Castle Mountain (Au) 50 Stibnite Gold (Au & Ag) 51 Sterling (Au) 52 Granite Creek (Pinson) (Au) 52 Canada 53 Detour Lake (Au) 54 Sudbury (PGM & Au) 56 Hemlo (Au) 57 Brucejack (Au & Ag) 58 Macassa (Kirkland Lake) (Au) 59 Dublin Gulch (Eagle) (Au) 60 Musselwhite (Au) 61 Timmins West (Au) 62 Canadian Malartic (Au) 63 Magino (Au) 64 Island Gold (Au) 65 Greenstone (Au) 66 Valentine Gold (Au) 67 Golden Highway (Au) 68 Eskay Creek (Au & Ag) 69 Red Lake (McFinley) (Au) 70 Courageous Lake (Au) 70 Goldfields (Au) 70 Monument Bay (Au) 71 Red Mountain (Au) 71 Cariboo (Au) 71 TSX / NYSE: FNV 26 ★ Franco-Nevada Corporation

P R E C I O U S M E T A L S / D I V E R S I F I E D A S S E T S I N D E X – A L P H A B E T I C A L The description and depiction of our assets in this Asset Handbook has been simplified for presentation purposes. More detailed and current information may be available in our previous and subsequent disclosure and on our website. Mineral Resources and Mineral Reserves information for 2022 and 2021 is provided for comparative purposes only. For a detailed breakdown of the 2022 and 2021 Mineral Resources and Mineral Reserves, please refer to our AIF for each of the years ended December 31, 2022 and December 31, 2021, respectively available on SEDAR+ at www.sedarplus.com. PRECIOUS METALS Antamina (Ag) 31 Antapaccay (Au & Ag) 30 Aphrodite (Au) 84 Bald Mountain (Au) 47 Brucejack (Au & Ag) 58 Calcatreu (Au & Ag) 37 Canadian Malartic (Au) 63 Candelaria (Au & Ag) 29 Cariboo (Au) 71 Cascabel (Alpala) (Au, Cu, Ag) 36 Castle Mountain (Au) 50 CentroGold (Gurupi) (Au) 37 Cerro Moro (Au & Ag) 34 Cobre Panama (Au & Ag) 39 Condestable (Au & Ag) 32 Courageous Lake (Au) 70 Detour Lake (Au) 54 Dublin Gulch (Eagle) (Au) 60 Duketon (Au) 79 Edikan (Au) 80 Eskay Creek (Au & Ag) 69 Gold Quarry (Au) 45 Golden Highway (Au) 68 Goldfields (Au) 70 Goldstrike (Au) 44 Granite Creek (Pinson) (Au) 52 Greenstone (Au) 66 Guadalupe-Palmarejo (Au) 41 Hemlo (Au) 57 Island Gold (Au) 65 Karma (Au) 78 Kiziltepe (Au & Ag) 82 Macassa (Kirkland Lake) (Au) 59 Magino (Au) 64 Marigold (Au) 46 Matilda (Wiluna) (Au) 82 Mesquite (Au) 49 Monument Bay (Au) 71 Musselwhite (Au) 61 MWS (Au) 74 Pandora (PGM) 83 Perama Hill (Au) 84 Posse (Mara Rosa) (Au) 37 Precious Metals Exploration Assets 85 Red Lake (McFinley) (Au) 70 Red Mountain (Au) 71 Sabodala (Au) 75 Salares Norte (Au & Ag) 35 San Jorge (Au) 37 Séguéla (Au) 73 Sissingué (Au) 83 South Arturo (Au) 48 South Kalgoorlie (Au) 83 Sterling (Au) 52 Stibnite Gold (Au & Ag) 51 Stillwater (PGM) 43 Subika (Ahafo) (Au) 77 Sudbury (PGM & Au) 56 Tasiast (Au) 76 Timmins West (Au) 62 Tocantinzinho (Au) 33 Valentine Gold (Au) 67 Yandal (Bronzewing) (Au) 81 DIVERSIFIED Caserones (Cu & Mo) 97 Copper Creek (Cu, Mo & Ag) 102 Copper World Project (Cu, Mo, Ag & Au) 98 Crawford (Ni, Co, Cr & PGM) 101 Diversified (Mining) Exploration Assets 104 EaglePicher (De) 102 Energy Exploration Assets 115 Haynesville 109 LIORC (Iron Ore) 94 Marcellus 108 Milpillas (Cu) 102 Mt Keith (Ni) 100 NuevaUnión (Relincho) (Cu, Au & Mo) 95 Orion 113 Permian Basin 111 Ring of Fire (Cr, Ni, Cu & PGM) 99 Robinson (Cu, Mo, Ag & Au) 101 SCOOP/STACK 110 Taca Taca (Cu, Au & Mo) 96 Vale (Iron Ore, Cu, Au & Other) 92 Weyburn Unit 112 Franco-Nevada Corporation ★ 27 TSX / NYSE: FNV

CentroGold (Gurupi) Cerro Moro San Jorge Antamina Salares Norte Antapaccay Candelaria Calcatreu Condestable Cascabel (Alpala) Posse (Mara Rosa) Tocantinzinho Producing Advanced South America TSX / NYSE: FNV 28 ★ Franco-Nevada Corporation

C A N D E L A R I A Location: Chile, South America | Operator: Lundin Mining Corporation | Precious Metals: Au & Ag | Stream: Gold and Silver Stream In November 2014, Franco-Nevada (Barbados) Corporation acquired a gold and silver stream on production from the Candelaria operation in Chile. 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 130.3 $ 125.8 $ 116.5 M&I Resources (koz Au) 1 5,895 5,336 5,600 Inferred Resources (koz Au) 1 606 484 500 P&P Reserves (koz Au) 1 2,235 2,479 2,700 M&I Resources (Moz Ag) 1 86.6 80.6 83.0 Inferred Resources (Moz Ag) 1 6.3 5.6 7.0 P&P Reserves (Moz Ag) 1 32.1 36.2 39.0 M&I Royalty Ounces (000s) 1, 2 1,586 1,456 1,586 Inferred Royalty Ounces (000s) 2 145 115 125 P&P Royalty Ounces (000s) 2 665 746 851 1 Please refer to the tables on pages 118-124 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 P&P Royalty Ounces include payable metal of the balance of the 720,000 ounces of gold and 12 million ounces of silver remaining and the balance of P&P Reserves subject to the lower stream percentage. For M&I Royalty Ounces, Franco-Nevada has assumed the P&P Royalty Ounces with the balance of M&I Resources subject to the lower stream percentage. For Inferred Royalty Ounces, Franco- Nevada assumes Inferred Mineral Resources are subject to the lower stream percentage. Silver is converted to Royalty Ounces assuming $1,950/oz gold and $22.50/oz silver ($1,800/oz gold and $21.00/oz silver in 2022, $1,800/oz gold and $23.00/oz silver in 2021). The stream interest has been factored by 78% to reflect $1,950 per ounce gold and $428.85 per ounce ongoing payments (76% in 2023, 76% in 2022) The Candelaria mine was discovered in 1987 and the open pit has been in operation since 1993. The operation also includes the Candelaria North and South, Santos and Alcaparrosa underground mines. Lundin Mining Corporation (“Lundin”) is the operator of the project and owns 80% of the asset with the balance owned by Sumitomo Corporation and its affiliates. Franco-Nevada provided an up-front deposit of $655 million to acquire the gold and silver stream from what is primarily a copper mine. The funds were used to finance a portion of the cost paid by Lundin to acquire the asset from Freeport-McMoRan Inc. Candelaria is an established mining operation and the transaction was the first material instance of a royalty/streaming company partnering with an operating company to purchase a producing asset. The stream covers the current property of approximately 150 km 2 . An additional defined area of interest effectively doubles the property position. Should Lundin acquire properties located within the area of interest, Franco-Nevada has the option to purchase a gold and silver stream which will apply to the additional ore from such properties. Under the streaming agreement, Lundin will deliver 68% of the payable gold and silver from 100% of the mine production, which reduces to 40% after 720,000 ounces of gold and 12 million ounces of silver have been delivered to Franco-Nevada. This is currently expected to occur in 2027. Cumulatively, 541,308 ounces of gold and 8.7 million ounces of silver have been delivered since acquisition until December 31, 2023. Franco-Nevada pays an ongoing price equal to the lesser of $428.85 per ounce of gold and $4.28 per ounce of silver or the then prevailing spot price for gold and silver for each ounce delivered under the stream. This price escalates by 1% per annum in October of each year. Lundin has made a significant investment in exploration at Candelaria and has extended the mine life from 2028, when it acquired Candelaria, to 2048. Lundin has successfully added to the Mineral Resources and Mineral Reserves at the four underground mines and has discovered the Española open pit deposit which is located partly on the stream concession and partly on ground covered by Franco-Nevada’s area of interest. Operations at the Alcaparrosa underground mine were suspended in connection with the sinkhole which occurred near the mine in July 2022 and excluded from the Candelaria LOM plans. Candelaria has a total mill throughput of approximately 79 ktpd. In early 2022, Lundin completed a feasibility study update for throughput expansion of the underground mines from 15 ktpd to up to 30 ktpd and included underground crushing and conveying systems and a surface secondary crushing plant although a construction decision has not yet been made. In 2023, Candelaria produced approximately 152 kt of copper, 90 koz of gold and 1.5 Moz of silver, on a 100% basis. Franco-Nevada sold 66,709 GEOs from the mine in 2023, compared with 69,854 GEOs in 2022. In 2024, Franco-Nevada expects sales from its Candelaria stream to be between 70,000 and 80,000 GEOs. History of expanding resources Updated plan extends life of mine to 2048 UG mine expansion permitted and being evaluated Tierra Amarilla Santos Mine Copiapo Candelaria North (U/G) Alcaparrosa Mine Candelaria Pit Candelaria South (U/G) La Española kilometer 0 2.5 N Candelaria Gold and Silver Stream Pacific Ocean Argentina Bolivia Peru Brazil Chile Candelaria Ojos del Salado Mining Property Candelaria Mining Property Area of Interest Pits Franco-Nevada Corporation ★ 29 TSX / NYSE: FNV South America

A N T A P A C C A Y Location: Peru, South America | Operator: Glencore plc | Precious Metals: Au & Ag | Stream: Gold and Silver Stream In February 2016, Franco-Nevada (Barbados) Corporation acquired a precious metals stream on production from the Antapaccay mine for $500 million from Glencore plc (“Glencore”) and its subsidiaries. 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 120.1 $ 95.2 $ 111.6 M&I Resources (koz Au) 1 2,871 3,079 3,279 Inferred Resources (koz Au) 1 164 193 383 P&P Reserves (koz Au) 1 1,033 1,198 1,222 M&I Resources (Moz Ag) 1 68.3 70.2 70.6 Inferred Resources (Moz Ag) 1 3.4 3.4 6.2 P&P Reserves (Moz Ag) 1 17.7 19.3 17.6 M&I Royalty Ounces (000s) 1,2 712 786 868 Inferred Royalty Ounces (000s) 1 32 36 72 P&P Royalty Ounces (000s) 1 333 397 440 1 Please refer to the tables on pages 118-124 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 P&P Royalty Ounces include payable metal of the remaining deliveries before the 630,000 ounces of gold and 10 million ounces of silver hurdle with the balance of Mineral Reserves subject to a 30% stream. For M&I Royalty Ounces, Franco-Nevada assumes the P&P Royalty Ounces with the balance of M&I Resources subject to the 30% stream. For Inferred Royalty Ounces, Franco-Nevada assumes Inferred Mineral Resources are subject to the 30% stream. Silver has been converted to Royalty Ounces assuming $1,950/oz gold and $22.50/oz silver ($1,800/oz gold and $21.00/oz silver in 2022, $1,800/oz gold and $23.00/oz silver in 2021). The stream interest has been factored by different ongoing payments of 20% of the spot price of gold and silver on the first 750,000 ounces of gold and 12.8 million ounces of silver and 30% of the spot price thereafter Antapaccay is located within the province of Espinar in Southern Peru. The property also hosts the historic Tintaya open pit mine and related infrastructure which began operating in 1984. Glencore (Xstrata) invested in excess of $1.5 billion of initial capital to build and commission the Antapaccay open pit mine and plant, which commenced operations in 2012. Under the streaming agreement, gold and silver deliveries are initially referenced to copper in concentrate shipped. Franco-Nevada will receive 300 ounces of gold and 4,700 ounces of silver for each 1,000 tonnes of copper in concentrate shipped, until 630,000 ounces of gold and 10 million ounces of silver have been delivered, which is currently expected to occur in 2028. Thereafter, Franco-Nevada will receive 30% of the gold and silver shipped. Cumulatively, 446,810 ounces of gold and 7.0 million ounces of silver have been delivered since acquisition until December 31, 2023. Franco-Nevada will initially pay an on-going price of 20% of the spot price of gold and silver until 750,000 ounces of refined gold and 12.8 million ounces of refined silver have been delivered. Thereafter, the on-going price will increase to 30% of the spot price of gold and silver. The stream is referenced to the entire Antapaccay concession covering approximately 997 km 2 . Glencore is considering developing the Coroccohuayco deposit which is located within 10 km of the Antapaccay plant. The project has been rescoped as an open pit with mine planning currently at the PFS level. Coroccohuayco hosts M&I Mineral Resources of 643 million tonnes with a copper grade that is approximately 50% higher than the Antapaccay Mineral Reserves. In addition, there are a number of large-scale regional targets and prospects on the Antapaccay concessions. Antapaccay currently has a combined (Antapaccay + Tintaya plants) mill throughput capacity of 105 ktpd. In 2023, Antapaccay produced 173 kt of copper, 97 koz of gold and 1.3 Moz of silver. Franco-Nevada sold 61,158 GEOs from the mine in 2023, compared with 53,023 GEOs in 2022 and, in 2024, expects sales from its Antapaccay stream to be between 50,000 and 60,000 GEOs. Antapaccay has a planned mine life to 2034 which would be further extended by any development of Coroccohuayco. Gold and silver deliveries initially referenced to copper in concentrate shipped Potential for Coroccohuayco to extend mine life Land package of 997 km 2 offers a number of large - scale regional targets kilometer 15 0 N Antapaccay Gold and Silver Stream Pacific Ocean Argentina Bolivia Peru Brazil Chile Antapaccay Antapaccay Pit Coroccohuayco Tintaya Pit/ Tailings Storage Antapaccay Plant Tintaya Plant 8 km 7 km Pits Antapaccay Concession Area *Antapaccay Concession area covers ~997 km 2 Excluded from Royalty Antapaccay Concession Area TSX / NYSE: FNV 30 ★ Franco-Nevada Corporation South America

A N T A M I N A Location: Peru, South America | Operator: Teck Resources Limited (owns 22.50%) | Precious Metals: Ag | Stream: Silver Stream In October 2015, Franco-Nevada acquired a silver stream for $610 million on production from the Antamina mine in Peru from Teck Resources Limited (“Teck”). 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 50.5 $ 68.4 $ 94.1 M&I Resources (Moz Ag)¹ 324.7 321.2 324.9 Inferred Resources (Moz Ag)¹ 429.6 460.2 447.7 P&P Reserves (Moz Ag)¹ 77.8 88.3 107.0 M&I Royalty Ounces (000s) 1,2 522 528 585 Inferred Royalty Ounces (000s) 1 492 531 560 P&P Royalty Ounces (000s) 1 134 153 201 1 Please refer to the tables on pages 118-124 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 assumes 22.5% of Teck’s interest in Antamina is subject to our stream interest and that the stream reduces by 33% once 86 million silver ounces have been delivered. Silver has been converted to Royalty Ounces assuming $1,950/ oz gold and $22.50/oz ($1,800/oz gold and $21.00/oz silver in 2022, $1,800/oz gold and $23.00/oz in 2021). The stream interest has been factored by ongoing payments of 5% of the spot price of silver Teck has a 22.50% interest in Compañía Minera Antamina S.A. (“CMA”), the Antamina joint venture company, along with partners BHP Billiton Plc (33.75%), Glencore (33.75%) and Mitsubishi Corporation (10.00%). Antamina commenced operations in 2001 and is one of the lowest cost copper operations globally. Antamina has a mill throughput capacity of approximately 145,000 tonnes per day. In 2023, on a 100% basis, Antamina produced 423,500 tonnes of copper, 463,100 tonnes of zinc and 11.6 million ounces of silver (silver calculated from Glencore’s 33.75% interest in Antamina) in concentrates. Silver sold for 2023 was 2.2 million ounces for Franco-Nevada’s attributable share under the stream, with 3.1 million ounces sold in 2022. Franco- Nevada expects attributable production in 2024 to be between 2.0 million to 2.4 million silver ounces, temporarily lower than our long-term expected annual range of 2.8 million to 3.2 million silver ounces as silver grades are expected to be lower than average in 2024. Antamina is expected to revert to higher silver grades in 2025. In addition, a capital program that includes moving the location of the in-pit crusher will provide access to higher grade ore resulting in higher metal production. The stream is based on recovered silver from Teck’s attributable 22.50% interest in the Antamina mine, subject to a fixed silver payability of 90%. Franco-Nevada pays 5% of the spot silver price for each ounce of silver delivered under the stream. The stream will reduce by one-third after 86 million ounces of silver have been delivered, currently expected after 2040. A total of 27.1 million cumulative ounces of silver have been delivered to Franco-Nevada as of December 31, 2023. Inclusive of Mineral Reserves, the mine contains total Measured and Indicated Mineral Resources of approximately 899 million tonnes of ore (with a silver grade of 11.2 g/t) and an Inferred Mineral Resource of 1.19 billion tonnes of ore (with a silver grade of 11.3 g/t). Total Mineral Reserves are 226 million tonnes of ore (with a silver grade of 10.7 g/t), which are currently constrained by tailings disposal capacity. Approval of the Modification of Environmental Impact Assessment was received on February 14, 2024, to extend its mine life from 2028 to 2036. CMA is evaluating for additional tailings storage options and alternative mine plans that could result in significant mine life extensions. Beyond the known Mineral Resources and Mineral Reserves, Antamina hosts additional potential open pit and bulk/selective underground targets. There is also regional exploration potential over a large, prospective land package greater than 1,000 km 2 . High grade copper/zinc orebody One of the lowest cost copper operations globally Large, high grade Inferred Mineral Resource Antamina, Peru Pacific Ocean Argentina Bolivia Peru Brazil Chile Antamina Antamina Silver Stream kilometer 100 0 Antamina Lima Cajacay Chasquitambo Carretera Pativilca-Huarez Huarmey Punta Lobitos CMA Puerto Minero Aquia Chiquian Catac Recuay Huaraz Huallanca Yanashall Machac Parque Nacional Huascaran CMA Pipeline Pacific Ocean Autopista Panamericana Norte Conococha Cutatambo Pachacoto Huanzala Subestacion Linea de Transmision Electrica San Marcos Huari Chavui De Huantar Paramonga Pativilca Barranca Huacho Huaral Chancay Pto. Supe N Franco-Nevada Corporation ★ 31 TSX / NYSE: FNV South America

C O N D E S T A B L E Location: Peru, South America | Operator: Southern Peaks Mining LP | Precious Metals: Au & Ag | Stream: Gold and Silver Stream In March 2021 and amended in March 2024, Franco-Nevada (Barbados) Corporation acquired a precious metals stream on production from the Condestable mine in Peru, for a total combined deposit of $175 million. 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 23.7 $ 22.4 $ 22.5 M&I Resources (koz Au) 1 537 688 701 Inferred Resources (koz Au) 1 79 479 480 P&P Reserves (koz Au) 1 267 163 170 M&I Resources (Moz Ag) 1 9.8 17.4 17.6 Inferred Resources (Moz Ag) 1 1.0 12.2 12.3 P&P Reserves (Moz Ag) 1 5.2 5.2 5.2 M&I Royalty Ounces (000s) 1,2 147 164 180 Inferred Royalty Ounces (000s) 1 12 87 89 P&P Royalty Ounces (000s) 1 85 97 n/a 1 Please refer to the tables on pages 118-124 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 fixed deliveries for M&I Royalty Ounces of 8,760 ounces of gold and 291,000 ounces of silver per year until December 2025; then, 63% of gold and silver until 87,600 ounces of gold and 2,910,000 ounces of silver are delivered, respectively; thereafter, 25% of gold and silver ounces are subject to the stream. For Inferred Royalty Ounces, Franco-Nevada assumes 25% of gold and silver from Inferred Mineral Resources (25% in 2022) are subject to the stream. Silver has been converted to Royalty Ounces assuming $1,950/oz gold and $22.50/oz ($1,800/oz gold and $21.00/ oz silver in 2022, $1,800/oz gold and $23.00/oz in 2021). The stream interest has been factored by ongoing payments of 20% of the spot price of gold and silver The Condestable mine is located approximately 90 km south of Lima, Peru, and is owned and operated by a majority-owned subsidiary of Southern Peaks Mining LP (“SPM”), a private company. The Condestable mine has operated for over 50 years, produces approximately 20,000 tonnes of copper per year and has a proven history of resource conversion. For the first five years of the streaming agreement, commencing on January 1, 2021 and ending December 31, 2025, Franco-Nevada will receive 8,760 ounces of gold and 291,000 ounces of silver annually until a total of 43,800 ounces of gold and 1,455,000 ounces of silver have been delivered (the “Fixed Deliveries”). Thereafter, Franco-Nevada will receive 63% of the gold and silver contained in concentrate until a cumulative total of 87,600 ounces of gold and 2,910,000 ounces of silver have been delivered (the “Variable Phase 1 Deliveries”). The stream then reduces to 37.5% over the remaining life of mine (the “Variable Phase 2 Deliveries”). The Variable Phase 2 Deliveries were increased from 25% to 37.5%, as part of the March 2024 amendment. Franco-Nevada will pay 20% of the spot price for gold and silver for each ounce delivered under the stream (the “Ongoing Payment”). For a period of four years from closing, subject to certain restrictions, a subsidiary of SPM may, at its option, make a one-time special delivery comprising the number of ounces of refined gold equal to $118.8 million at the then current spot price subject to the Ongoing Payment, to achieve the early payment of the Fixed Deliveries and Variable Phase 1 Deliveries. The Variable Phase 2 Deliveries would commence immediately thereafter. The stream is referenced to the entire Condestable concessions covering approximately 450 km 2 with excellent near mine exploration upside. Throughput at the mine averaged 7,900 tpd in 2023. SPM is currently ramping up capacity at the Condestable mine to 8,400 tpd and is advancing a feasibility study on a further expansion to 10,000 tpd. Proven operation with excellent potential for expansions and mine life extension Increased LOM exposure with additional $10M deposit Large, prospective land package of approximately 450 km 2 Condestable, Peru Condestable UG Surface facilities Raul UG Vinchos UG Pacific Ocean Pan American Hwy 102 km to Lima Condestable Gold and Silver Stream kilometer 5 0 kilometer 5 0 Condestable Mining Property Excluded from Royalty N Pacific Ocean Argentina Bolivia Peru Brazil Chile Condestable TSX / NYSE: FNV 32 ★ Franco-Nevada Corporation South America

T O C A N T I N Z I N H O Location: Brazil, South America | Operator: G Mining Ventures Corp. | Precious Metals: Au | Stream: Gold Stream In July 2022, Franco-Nevada (Barbados) Corporation announced a $352.5 million funding package with G Mining Ventures Corp. on the Tocantinzinho gold project in Brazil. 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ − $ – $ – M&I Resources (koz Au) 1 2,102 2,102 – Inferred Resources (koz Au) 1 50 50 – P&P Reserves (koz Au) 1 2,042 2,042 – M&I Royalty Ounces (000s) 1,2 210 210 – Inferred Royalty Ounces (000s) 1 5 5 – P&P Royalty Ounces (000s) 1 204 204 – 1 Please refer to the tables on pages 118-124 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 it will receive 12.5% of gold produced which reduces to 7.5% after 300,000 ounces of gold have been delivered. The stream interest has been factored by 80% to reflect an ongoing payment price of 20% of the spot price for each ounce of gold delivered ($1,950 per ounce gold in 2023, $1,800 per ounce gold for 2022) Tocantinzinho is located in the Tapajos region of Pará State, Brazil, 200 km south-southwest of the city of Itaituba, and is owned and operated by G Mining Ventures Corp. (“G Mining Ventures”). The construction funding package included a $250 million gold stream, $75 million secured term loan and purchase of $27.5 million of G Mining Ventures’ common shares. Under the streaming agreement, Franco-Nevada will receive 12.5% of gold produced which reduces to 7.5% after 300,000 ounces of gold have been delivered, which is currently expected to occur around 2037. Franco-Nevada pays an ongoing price of 20% of the spot gold price for each ounce of gold delivered. The $75 million, six-year term loan is available for a period of 3.5 years, drawable quarterly at G Mining Ventures’ option following full funding of the stream with an interest rate of 3-Month Term Secured Overnight Financing Rate (“3-Month SOFR”) +5.75% per annum, reducing to 3-Month SOFR+4.75% after completion tests have been achieved at the project. Tocantinzinho is a conventional open pit mining and milling operation. G Mining Ventures’ February 2022 feasibility study outlined a 12.6 ktpd mill producing 1.8 Moz of gold over 10.5 years, resulting in an average annual gold production profile of approximately 175 koz with an all-in-sustaining cost of $681/oz and initial capital cost of $458 million. Project construction is well advanced and proceeding on time and on budget with first production expected in the second half of 2024. Full year contributions to Franco-Nevada from the project are expected to average approximately 24,500 GEOs per year over the first five years of full production. Experienced team with track record of successful project delivery Construction proceeding on time and on budget Large, prospective land package of approximately 996 km 2 Tocantinzinho, Brazil Tocantinzinho Gold Stream kilometer 10 0 N Tocantinzinho Pacific Ocean Argentina Bolivia Peru Brazil Tocantinzinho Mining Licenses Exploration Licenses Excluded from Stream Licenses under application Franco-Nevada Corporation ★ 33 TSX / NYSE: FNV South America

C E R R O M O R O Location: Argentina, South America | Operator: Pan American Silver Corp. | Precious Metals: Au & Ag | Royalty: NSR: 2% Franco-Nevada has a 2% NSR on the Cerro Moro mine operated by Pan American Silver Corp. (“Pan American Silver”) in Santa Cruz province, Argentina. 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 5.2 $ 6.3 $ 4.9 M&I Resources (koz Au) 1 422 574 574 Inferred Resources (koz Au) 1 192 226 226 P&P Reserves (koz Au) 1 302 457 457 M&I Resources (Moz Ag) 1 19.5 30.0 30.0 Inferred Resources (Moz Ag) 1 4.9 8.2 8.2 P&P Reserves (Moz Ag) 1 11.3 22.2 22.2 M&I Royalty Ounces (000s) 1,2 12 17 18 Inferred Royalty Ounces (000s) 1 4 6 6 P&P Royalty Ounces (000s) 1 8 14 15 1 Please refer to the tables on pages 118-124 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 95% of the Mineral Reserves (95% in 2022, 100% in 2021), 90% of the M&I Mineral Resources (90% in 2022, 95% in 2021) and 90% of the Inferred Mineral Resources (90% in 2022, 95% in 2021) are subject to our royalty interest and estimates a rate of 2.0% is applicable. Silver has been converted assuming $1,950/oz gold and $22.50/oz silver ($1,800/oz gold and $21.00/oz silver in 2022, $1,800/oz gold and $23.00/oz silver in 2021) 3 Please refer to Yamana’s public disclosures for further details on its definition of gold equivalent ounces The royalty covers about 160 km 2 of the property including a significant portion of the mineral resources contained in high-grade epithermal gold and silver veins. In March 2023, Pan American Silver acquired Cerro Moro as part of its acquisition of Yamana Gold Inc. (“Yamana”). Construction at Cerro Moro was completed in 2018 with commercial production being declared in June 2018. For the nine-month period from March 31 to December 31, 2023, actual production was 84,600 ounces of gold and 3.5 million ounces of silver compared to 108,240 ounces of gold and 6.1 million ounces of silver in FY2022. Production in 2024 is expected to be between 93,000 to 115,000 ounces of gold and 3.2 to 3.5 million ounces of silver. Silver production reflects mining lower grades than in 2023 due to mine sequencing while gold production is expected to be similar to 2023. Lower than expected costs have been achieved at Cerro Moro from higher throughput and higher gold prices, process plant optimizations and organizational enhancements. Prior to the acquisition, Yamana’s long-term plan at Cerro Moro was to create ten years of sustainable production of at least 160,000 gold equivalent ounces 3 per year. In 2022 Yamana’s infill drilling was targeting extensions of known mineralization both to depth and along strike to replace mining depletion. Yamana was considering both a plant expansion and added heap leach project which, along with conversion of known exploration targets to mineral resources, could produce at least 200,000 gold equivalent ounces 3 per year. High grade gold/silver deposit with expansion potential Significant near-mine and regional exploration targets kilometer 5 0 Cerro Moro 2% NSR Carla Michelle Zoe Deborah Martina Tres Lomas Esperanza Loma Escondida Escondida Nini Nini Ext Natalia Natalia NW Plant Buenos Aires Cerro Moro Chile Argentina Uruguay Elsa 2% NSR FNV Royalties Excluded from Royalty Deposits N Cerro Moro, Argentina TSX / NYSE: FNV 34 ★ Franco-Nevada Corporation South America

S A L A R E S N O R T E Location: Chile, South America | Operator: Gold Fields Limited | Precious Metals: Au & Ag | Royalty: NSR: 1-2% In early 2019, Franco-Nevada acquired an existing 2% NSR on the Salares Norte project being advanced by Gold Fields Limited (“Gold Fields”) in the Atacama region of Northern Chile. 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ − $ − $ – M&I Resources (koz Au) 1 3,646 3,933 3,804 Inferred Resources (koz Au) 1 58 142 109 P&P Reserves (koz Au) 1 3,454 3,467 3,476 M&I Resources (Moz Ag) 1 44.6 44.9 42.9 Inferred Resources (Moz Ag) 1 0.5 0.9 0.7 P&P Reserves (Moz Ag) 1 42.2 39.0 39.3 M&I Royalty Ounces (000s) 1,2 42 45 44 Inferred Royalty Ounces (000s) 1 1 2 1 P&P Royalty Ounces (000s) 1 39 39 40 1 Please refer to the tables on pages 118-124 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 Reserves & Mineral Resources (100% in 2022, 100% in 2021) are subject to our royalty interest and estimates a rate of 1.0% (1.0% in 2022, 1.0% in 2021) in anticipation that Gold Fields exercises its right to repurchase 1.0% of the 2.0% NSR. Silver has been converted assuming $1,950/oz gold and $22.50/oz silver ($1,800/oz gold and $21.00/oz silver in 2022, $1,800/oz gold and $23.00/oz silver in 2021) The royalty is subject to a 1% buyback by Gold Fields within 24 months of announcing commercial production, for $6.0 million, with a credit from royalty revenue. In September 2020, Franco-Nevada acquired a separate 2% NSR on all mineral production from Gold Fields’ Rio Baker concessions for $5.0 million in cash with contingent payments of up to $8.0 million. The Rio Baker claims cover the northwest extension of the Salares Norte deposit, and the royalty acquisition provided Franco-Nevada with exposure to 100% of the Salares Norte project. Salares Norte is a blind epithermal gold and silver deposit and represents one of Gold Fields’ key development projects. In March 2023, Gold Fields released an updated Mineral Reserve as of December 31, 2022, containing 3.45 million ounces of gold and 42.2 million ounces of silver (18.4 million tonnes grading 5.85 g/t gold and 71.3 g/t silver). In June 2022, Gold Fields released a technical report supporting the 2019 feasibility study which envisaged an open pit mining operation with an initial mine life of 11 years. Construction of the Salares Norte mine commenced in 2020 and after some construction delays, first gold production was achieved in March 2024. Production for 2024 is expected to be 250,000 gold equivalent ounces and is expected to increase to 580,000 gold equivalent ounces in 2025, before reaching 600,000 gold equivalent ounces in 2026. For the five-year period from 2025 to 2029, average annual production is expected to be 485,000 gold equivalent ounces and for the 9-year period from 2025 to 2033, average annual production is expected to be 360,000 gold equivalent ounces. Gold Fields continues to invest in exploration within the area of the project to add to the life-of-mine production. Over 15,000 m of exploration drilling occurred in 2023 following 18,836 m of drilling in 2022. An underground option, as opposed to the original open pit plan, is also being studied at a prefeasibility level for the mining of the Agua Amarga deposit, the northern portion of the Salares Norte pit. First production achieved in March 2024 Initial 11-year mine life Near-mine exploration success to potentially extend mine life Salares Norte, Chile High-grade gold sub-domains 2017 EIA pit outline Main low-grade domains Antofagasta La Serena Copiapo Relincho Chile Argentina BOLIVIA PERU San Jorge Taca Taca Salares Norte Brecha Principal Agua Amarga Salares Norte Rio Baker 1% NSR 2% NSR kilometer 1 0 Salares Norte 1-2% NSR N Franco-Nevada Corporation ★ 35 TSX / NYSE: FNV South America

C A S C A B E L ( A L P A L A ) Location: Ecuador, South America | Operator: SolGold plc | Precious Metals: Au, Cu, Ag | Royalty: NSR: 1% In 2020, Franco-Nevada acquired a 1% NSR on the Cascabel copper-gold-silver project located in northern Ecuador being advanced by SolGold plc (“SolGold”). 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ − $ – $ – M&I Resources (Mlbs Cu)¹ 27,337 24,626 22,994 Inferred Resources (Mlbs Cu)¹ 4,409 3,439 4,012 P&P Reserves (Mlbs Cu)¹ 7,055 7,187 – M&I Resources (koz Au) 1 31,200 24,850 22,900 Inferred Resources (koz Au) 1 5,400 2,520 3,140 P&P Reserves (koz Au) 1 9,400 9,370 – M&I Resources (Moz Ag) 1 91.3 92.2 92.2 Inferred Resources (Moz Ag) 1 11.0 10.6 10.6 P&P Reserves (Moz Ag) 1 28.0 30.0 – M&I Royalty Ounces (millions) 1,2 769 724 621 Inferred Royalty Ounces (millions) 1 127 91 99 P&P Royalty Ounces (millions) 1 213 233 – 1 Please refer to the tables on pages 118-124 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 1.0% (0.85% for copper Royalty Ounces which factors a NSR smelting charge of 15%). Copper has been converted to Royalty Ounces assuming $3.75 per pound ($4.00 per pound in 2022) and silver has been converted to Royalty Ounces assuming $1,950/oz gold and $22.50/oz silver ($1,800/oz gold and $21.00/oz silver in 2022, $1,800/oz gold and $23.00/oz silver in 2021) Franco-Nevada’s royalty covers nearly 50 km 2 of the Cascabel mining concessions including the Alpala and the Tandayama-America (“TAM”) deposit. Alpala, the main target in the Cascabel concession, is a copper-gold porphyry deposit and represents one of the largest copper-gold projects being advanced globally. The Cascabel project is owned by Exploraciones Novamining SA, which was previously held 85% by SolGold and 15% by Cornerstone Capital Resource Inc. (“Cornerstone”). In February 2023, SolGold consolidated a 100% interest in the Cascabel project, merging with Cornerstone. The royalty is in reference to all minerals produced with the option for Franco-Nevada to convert the royalty to a gold NSR for a period of time once Alpala is producing. Franco-Nevada is further entitled to receive minimum royalty payments starting in 2028, subject to certain conditions. The royalty agreement also includes an option to buy back 50% of the royalty for a period of time. SolGold announced an updated prefeasibility study on the Cascabel project in February 2024. The prefeasibility study contemplates a phased underground block cave and outlined a Probable Mineral Reserve containing 9.4 million ounces of gold, 3.2 million tonnes of copper, and 28 million ounces of silver (540 million tonnes grading 0.54 g/t Au, 0.60% Cu and 1.6 g/t Ag). The inclusive Measured and Indicated Mineral Resource comprised 3,013 million tonnes at 0.52% CuEq for 26.8 million ounces of gold, 10.7 million tonnes of copper, and 91.3 million ounces of silver. The prefeasibility study contemplates an initial 28-year mine life, which reflects the exploitation of only 18% of the Alpala measured and indicated mineral resource. The initial capital cost has decreased compared to previous scenarios, as the phased approach gradually scales up operations. After a ramp-up period of approximately two years, the initial block cave will achieve a production rate of 12 Mtpa. The initial cave will extract high-grade ore, averaging approximately 1.45% CuEq for the first ten years of production. The extraction of this high-grade material will not sterilize the surrounding lower-grade ore. The mining operations will be expanded by an additional 12Mtpa, increasing to a total annual production rate of 24Mtpa in year 6. An average of approximately 123,000 tonnes of copper, 277,000 ounces of gold and 794,000 ounces of silver per year is expected over the life of the project. Exploration has yielded encouraging results on the broader Cascabel concessions with the identification of a highly mineralized system at TAM, which is located approximately 6 km northeast of the Alpala deposit, offering an excellent opportunity to provide additional mill feed for up to 7 years and the potential for an earlier start of metal production from an open pit mining method. TAM is covered by the Franco-Nevada royalty. SolGold declared a updated mineral resource at TAM in February 2024 comprising 722 million tonnes at 0.36% copper equivalent containing 1.7 million tonnes of copper and 4.5 million ounces of gold in Indicated Mineral Resources, plus 247 million tonnes at 0.35% copper equivalent containing 0.5 million tonnes of copper and 1.6 million ounces of gold in the Inferred category. One of the largest copper-gold development projects in the world Updated prefeasibility study released in February 2024 0.4% Copper Equivalent 1.0% Copper Equivalent Royalty Claim Area 0.1% Copper Equivalent Pacific Ocean Argentina Bolivia Peru Brazil Colombia Chile Cascabel Equador Alpala Rocafuerte Alpala Camp Tandayama America Frontier Transverse Hwy Aguinaga Site Office 1% NSR Cascabel (Alpala) 1% NSR kilometer 1 0 N TSX / NYSE: FNV 36 ★ Franco-Nevada Corporation South America

P O S S E ( M A R A R O S A ) Location: Brazil, South America | Operator: Hochschild Mining PLC | Precious Metals: Au | Royalty: NSR: 1% Franco-Nevada holds a 1% NSR royalty on the Posse open pit project located in Mara Rosa in the State of Goiás, Brazil. Hochschild Mining PLC (“Hochschild”) acquired the project through its acquisition of Amarillo Gold Corporation (“Amarillo”) in April 2022. Hochschild announced that the first gold pour took place on February 20, 2024, with commercial production expected towards the end of Q2 2024. Mara Rosa is expected to produce between 83,000 to 93,000 gold ounces in 2024 and Hochschild expects average annual production of approximately 80,000 gold ounces over an initial mine life of 10 years, with approximately 100,000 gold ounces annually over the first four years. For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates an average rate of 1.0% is applicable C A L C A T R E U Location: Argentina, South America | Operator: Patagonia Gold PLC | Precious Metals: Au & Ag | Royalty: NSR: 2.5% Franco-Nevada has a 2.5% NSR on the Calcatreu property in Argentina. Calcatreu is an epithermal gold-silver deposit located in the Province of Rio Negro. In December 2017, Patagonia Gold PLC (“Patagonia”) acquired the property from Pan American Silver. The Calcatreu deposit contains an Indicated Mineral Resource of 669,000 ounces of gold and 6.3 million ounces of silver and an Inferred Mineral Resource of 348,000 ounces of gold and 3.4 million ounces of silver. In 2022, Patagonia held a series of outreach meetings with local communities, authorities and unions presenting an update on activities, to seek input from those groups and others which will form a vital part of the permitting process for the project moving forward. During the same period, surface rights covering a major portion of the current Mineral Resource at Calcatreu were purchased. The new government, national and provincial, took office December 2023 and Patagonia expects that the permitting process will follow a legislated timeline. For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates an average rate of 2.5% is applicable. Silver has been converted assuming $1,950/oz gold and $22.50/oz silver S A N J O R G E Location: Argentina, South America | Operator: Aterra Investments Ltd. and Solway Industries Ltd. | Precious Metals: Au | Royalty: NSR: 7.5% San Jorge is a copper-gold porphyry project located in the Province of Mendoza, Argentina. Aterra Investments Ltd. and Solway Industries Ltd. (“Solway”) acquired the property from Coro Mining Corp. in April 2015. Solway reported prefeasibility results on their website, with annual production of over 40,000 tonnes of copper and 40,000 ounces of gold contained in concentrate over a 16-year life. Franco-Nevada received annual minimum payments of $1.25 million per year for a 10-year period which ended in 2021. Franco-Nevada maintains a 7.5% NSR on all gold produced from the property, having acquired the royalty through its acquisition of Lumina Royalty Corp. in December 2011. For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates an average rate of 7.5% is applicable C E N T R O G O L D ( G U R U P I ) Location: Brazil, South America | Operator: BHP Group Limited | Precious Metals: Au | Royalty: NSR: 0-1% Franco-Nevada holds a sliding scale NSR royalty (1% at greater than $400 per ounce gold) on the CentroGold (Gurupi) project located in the State of Maranhão in northern Brazil. BHP Group Limited (“BHP”) acquired the previous operator, OZ Minerals Limited (“Oz Minerals”), in 2023. In July 2019, Oz Minerals released an updated prefeasibility study on the project which envisioned a 10-year mine life with average annual gold production of 100,000 to 120,000 ounces of gold per year with 190,000 to 210,000 ounces of gold per year in the first two years of production. There have been challenges from a mining license injunction for the property. In 2022, Oz Minerals underwent an extensive negotiation and agreement process on a Land Use Agreement and, in December 2022, the National Institute of Colonization and Agrarian Reform approved the Land Use Agreement required for progressing the court injunction removal. For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates an average rate of 1.0% is applicable Franco-Nevada Corporation ★ 37 TSX / NYSE: FNV South America

Central America & Mexico Cobre Panama Guadalupe-Palmarejo Producing Cobre Panama currently on preservation and safe management TSX / NYSE: FNV 38 ★ Franco-Nevada Corporation

C O B R E P A N A M A Location: Panama | Operator: First Quantum Minerals Ltd. | Precious Metals: Au & Ag | Stream: Gold and Silver Stream Cobre Panama is one of the world’s largest copper-gold-silver porphyry mines and is indirectly 90% owned by First Quantum Minerals Ltd. (“First Quantum”) and 10% by Korea Mine Rehabilitation & Mineral Resources Corp. (“KOMIR”). 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 248.9 $ 223.3 $ 235.0 2022 2021 M&I Resources (koz Au) 1,2 7,159 7,396 Inferred Resources (koz Au) 1,2 1,296 1,301 P&P Reserves (koz Au) 1,2 6,861 7,104 M&I Resources (Moz Ag) 1,2 149.2 152.9 Inferred Resources (Moz Ag) 1,2 38.0 38.1 P&P Reserves (Moz Ag) 1,2 128.8 133.0 M&I Royalty Ounces (000s) 2,3 4,758 4,973 Inferred Royalty Ounces (000s) 3 750 769 P&P Royalty Ounces (000s) 3 4,532 4,743 1 Cobre Panama has been a material mining project in prior years but is currently on Preservation and Safe Management. Due to the status of Cobre Panama, Mineral Resources and Mineral Reserves are being reported separately and are not included in the Mineral Resources and Mineral Reserves table 2 Please refer to the tables on page 122 for a breakout of grade and tonnages by Mineral Resource category for Cobre Panama as at December 31, 2022; all M&I categories are inclusive of Mineral Reserves 3 For 2023, Franco-Nevada estimates that P&P royalty ounces, M&I royalty ounces and Inf royalty ounces would be 4,468 koz, 4,673 koz and 745 koz, respectively, using the same general assumptions as 2022 and assuming $1,950/oz gold and $22.50/oz silver. For 2022 Royalty Ounce calculation, Franco-Nevada assumed 88% of the Mineral Resources and Mineral Reserves were subject to our stream interest. Silver was converted into Royalty Ounces assuming $1,800/oz gold and $21.00/oz silver ($1,800/oz gold and $23.00/oz silver in 2021) and a 62% (62% in 2021) factor was applied to obtain a Royalty Ounce for the P&P category, a 62% (62% in 2021) factor was applied for Royalty Ounces in the M&I category and a 50% factor was applied for Royalty Ounces in the Inferred category Franco-Nevada (Barbados) Corporation, a wholly owned subsidiary of Franco-Nevada, contributed a total of $1.36 billion to the construction of Cobre Panama since 2015. Franco-Nevada has two precious metals streams on Cobre Panama. Each stream has slightly different terms as described below but both streams are indexed to the copper in concentrate shipped until certain specific thresholds of gold and silver deliveries are met: • Fixed Payment Stream – Effective since 2015 and applies to First Quantum’s original 80% interest in Cobre Panama. The ongoing payment is $457.35/oz gold and $6.86/oz silver with a 1.5% annual inflation factor. • Floating Payment Stream – Effective March 2018, Franco-Nevada (Barbados) Corporation added a new precious metals stream which increased its coverage to 100% of the ownership of the Cobre Panama operation. The Floating Payment Stream applies to First Quantum’s 10% indirect interest acquired from LS-Nikko Copper Inc. and KOMIR’s 10% indirect interest. The ongoing payment is 20% of the spot price for the Mineral Reserve life as of 2018 and higher thereafter. Cobre Panama commenced production in February 2019. In 2023, Cobre Panama produced 330 kt of copper. Franco-Nevada sold 128,599 GEOs from the mine in 2023, compared to 123,769 GEOs in 2022. In October 2023, the National Assembly of Panama approved a revised concession contract for the Cobre Panama mine through a new law, Law 406. Following this approval, widespread protests occurred in Panama resulting in the National Assembly enacting an indefinite mining moratorium in Panama. In late November 2023, the Supreme Court of Justice of Panama declared Law 406 unconstitutional and stated that the effect of the ruling was that the revised concession contract purportedly no longer existed. The Supreme Court did not order the closure of the mine. However, in late November the mine was placed on preservation and safe management (“P&SM”) due to illegal blockades and, although the blockades have dissipated, the Government of Panama announced “closure” plans for the mine in December 2023 and the mine remains on P&SM. Due to the above events and the political environment surrounding the ruling by the Supreme Court, Franco-Nevada conducted an impairment analysis and, taking a prudent approach, recognized a full impairment loss for the asset under applicable accounting rules as of the end of the reporting period. Franco-Nevada is pursuing all appropriate legal avenues to protect its investment and rights. The impairment has been taken without prejudice, or without at present attributing any specific value, to the legal remedies that may be obtained through any arbitration proceedings or otherwise. Franco-Nevada does not expect deliveries from the mine in 2024. Presidential and national legislative elections are scheduled to take place in May 2024, with a new president, Government of Panama cabinet and National Assembly expected to assume office in July 2024. In the event that there is a material change in the facts and circumstances surrounding the halting of production at Cobre Panama and there is a resumption of precious metal stream deliveries to Franco-Nevada, the impairment loss that was recognized may be partially or fully reversed. Franco-Nevada strongly prefers and hopes for an amicable solution providing for the resumption of operations at Cobre Panama, with the support of the Panamanian people and the State of Panama. Cobre Panama, Panama One of the largest copper producers (approx. 1.5% of global production) Currently in a phase of Environmental Preservation and Safe Management Before production halt, employed 7,000 workers and contributed 5% of Panama’s GDP Franco-Nevada Corporation ★ 39 TSX / NYSE: FNV Central America & Mexico

Cobre Panama Gold and Silver Stream kilometer 4 0 N Concession Boundary Pits Camp Caribbean Sea Punta Rincón River Caimito Plant Site Concession Boundary Power Transmission 230 kv line 20 km Port and Powerplant Balboa Pit Colina Pit Valle Grande Pit Botija Pit Brazo Pit Medio Pit Botija Abajo Pit Cobre Panama Project Panama City Panama Canal Pacific Ocean Caribbean Sea Cobre Panama is one of the world’s largest copper porphyry deposits. Its location near tidewater allows a very low cost operation. TSX / NYSE: FNV 40 ★ Franco-Nevada Corporation Central America & Mexico

G U A D A L U P E - P A L M A R E J O Location: Mexico, Central America and Mexico | Operator: Coeur Mining, Inc. | Precious Metals: Au | Stream: 50% Gold Stream Since January 2009, Franco-Nevada has received 50% of the gold produced from the Palmarejo silver mine located in Chihuahua Province, Mexico which is owned and operated by Coeur Mining, Inc. (“Coeur”). 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 66.8 $ 74.2 $ 83.4 M&I Resources (koz Au) 1 2,090 2,127 1,931 Inferred Resources (koz Au) 1 381 380 246 P&P Reserves (koz Au) 1 769 953 884 M&I Royalty Ounces (000s) 1,2 556 535 467 Inferred Royalty Ounces (000s) 1 110 102 60 P&P Royalty Ounces (000s) 1 209 241 211 1 Please refer to the tables on pages 118-124 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 92% of the Mineral Reserves (91% in 2022, 86% in 2021), 89% of the exclusive M&I Mineral Resource (89% in 2022, 90% in 2021) and 98% of the Inferred Mineral Resource (97% in 2022, 88% in 2021) are subject to our 50% stream interest. The stream interest has been factored by 59% to reflect $1,950 per ounce gold ($1,800/oz gold in 2022, $1,800/oz gold in 2021) and $800 per ounce ongoing payments (56% in 2022, 56% in 2021) Palmarejo is an underground silver mine with a considerable gold by-product. Starting in 2009, Franco-Nevada Mexico received 50% of the gold produced from Palmarejo in return for a $75 million investment. The original contract was terminated in 2014 and Coeur fulfilled its obligation under that agreement in the third quarter of 2016, once they delivered the minimum ounce obligation of 400,000 ounces of gold. In June 2014, Franco-Nevada (Barbados) Corporation, a subsidiary of Franco-Nevada, entered into a new 50% gold stream with Coeur on the Palmarejo project with ongoing payments equal to the lesser of $800 per ounce (no inflation provision) and the then prevailing spot price for gold for each ounce delivered under the new gold stream agreement. The new agreement improved mine economics for Coeur and helped extend the mine life of the entire Palmarejo operation. The agreement applies to a land position totaling over 1,200 km 2 although it does not cover the adjacent concessions that Coeur acquired through the acquisition of Paramount Gold and Silver Corp. in 2014. Franco-Nevada provided an upfront $22 million deposit which was used to partially fund the development of the Guadalupe underground mine on the Palmarejo property. Franco-Nevada sold 34,455 ounces of gold from the mine in 2023, compared to 41,000 ounces of gold in 2022. Palmarejo has a mill throughput capacity of 7 ktpd and in 2023 produced 6.6 Moz of silver and 101 koz of gold. Coeur’s 2024 production guidance for Palmarejo is between 5.9 Moz and 6.7 Moz of silver and 95 koz and 103 koz of gold. In 2024, Franco-Nevada expects sales from the Guadalupe- Palmarejo stream to be between 30,000 and 35,000 GEOs. Mineral Reserves and Mineral Resources remained stable in 2023 net of depletion. Franco-Nevada estimates that over 90% of the existing Mineral Resources and Mineral Reserves are covered by the stream agreement. Consistent exploration success Mineral Resources and Mineral Reserves replenished depleted ore Stream has significant leverage to the gold price Palmarejo Agua Salada Mill Guadalupe Mine Complex La Nación La Bavisa Zapata La Patria Independencia Mine Complex Independencia West Pacific Ocean NM TX CA AZ MEXICO Guadalupe-Palmarejo Gold Stream Perimeter of gold stream property Excluded from Stream Deposits Guadalupe- Palmarejo kilometer 4 0 N Independencia East Guadalupe-Palmarejo, Mexico Franco-Nevada Corporation ★ 41 TSX / NYSE: FNV South America

United States Castle Mountain Mesquite Nevada Stibnite Gold Stillwater Sterling Robinson Bald Mountain Marigold Goldstrike Gold Quarry South Arturo Nevada Granite Creek (Pinson) Producing Advanced TSX / NYSE: FNV 42 ★ Franco-Nevada Corporation

S T I L L W A T E R Location: Montana, United States | Operator: Sibanye-Stillwater | Precious Metals: PGM | Royalty: NSR: 5% The Stillwater complex in Eastern Montana is comprised of the Stillwater mine (West and East) and East Boulder mine and is operated by Sibanye-Stillwater. 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 26.1 $ 36.8 $ 57.8 M&I Resources (koz PGM) 1 44,100 39,400 45,000 Inferred Resources (koz PGM) 1 43,700 44,800 44,600 P&P Reserves (koz PGM) 1 26,300 26,300 27,300 M&I Royalty Ounces (000s) 1,3 886 1,316 2,040 Inferred Royalty Ounces (000s) 2,3 878 1,497 2,021 P&P Royalty Ounces (000s) 2,3 529 879 1,237 1 Please refer to the tables on pages 118-124 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 98% of the Mineral Resources and Mineral Reserves are subject to our royalty interest 3 Given more significant smelting and refining charges, Franco-Nevada estimates an average rate of 4.50% is applicable (assuming 10% for charges) and PGM ounces converted into Royalty Ounces assuming $850/ounce Pt and $900/ounce Pd ($900/ounce Pt and $1,500/ ounce Pd in 2022, $1,000/ounce Pt and $2,100/ounce Pd in 2021)) Production began in 1986 at the Stillwater mine and in 2002 at the East Boulder mine. In 2014, the operator commenced the Blitz project which included developing a third access at Stillwater East. The majority of production from the PGM orebodies is palladium. Sibanye Gold Limited acquired Stillwater Mining Corporation in May 2017. Franco-Nevada has a 5% NSR royalty on all commercially recoverable metals produced from 810 of the 1,712 claims that cover the Stillwater complex. The amount of the royalty is reduced by permissible “onward processing” deductions, which have averaged between 5-15% of revenue over the last several years. Based on Franco-Nevada’s estimates, the NSR royalty currently covers 97% of the Stillwater Mineral Reserves and 100% of the East Boulder Mineral Reserves. In recent years, the percentage of Stillwater complex production subject to Franco-Nevada’s royalty has increased well above 95% as mining moves away from the Stillwater shaft area onto royalty ground. PGM production for 2023 yielded 427,272 ounces versus 421,133 ounces in 2022. Production in 2023 was affected by the Q1 shaft incident which impacted production from Stillwater West. At the outset of the Stillwater East project, the operator targeted expanding production to as much as 850 koz per year. Operational constraints have caused expansion plans to be moderated. Production for 2024 has also been repositioned for a lower PGM price environment, with annual production forecasted to be between 440 koz and 460 koz ounces. The operator currently is targeting production levels of up to 600 koz to 650 koz per year by 2027. As at December 31, 2023, Sibanye-Stillwater reported updated Mineral Resources and Mineral Reserves at the Montana operations. Mineral Reserves and Mineral Resources remained relatively stable compared to 2022 as depletion was off-set by successful brownfield exploration activity and continued improvement in estimation practices. Reserves continue to support a mine life in excess of 40 years. Stillwater Wyoming AB SK MB North Dakota Nebraska Idaho Utah Colorado Montana South Dakota Stillwater Complex 5% NSR mile 0 1 N Franco- Nevada Royalty Franco- Nevada Royalty East Boulder Portal Site East Boulder Adit Stillwater Mill Site Camp Lake Boulder River East Boulder River Dry Fork Creek Lewis Gulch West Fork Stillwater Stillwater River Limit of Claims Sweetgrass Co. Park Co. Stillwater Co. Sweetgrass Co. County line Long Section (Not to scale) Plan View Stillwater East (Blitz) Stillwater West East Boulder Mine Non-Royalty mill area Lower Stillwater East (Lower Blitz) Current and future planned production layouts Franco-Nevada Royalty Land Only PGM producer in the U.S. Mineral Reserves support a long mine life Significant Mineral Resource has the potential to increase mine life even further Franco-Nevada Corporation ★ 43 TSX / NYSE: FNV United States

G O L D S T R I K E Location: Nevada, United States | Operator: Nevada Gold Mines LLC | Precious Metals: Au | Royalty: NSR: 2-4% / NPI: 2.4-6% Franco-Nevada holds royalties covering the majority of the Nevada Gold Mines LLC (“Nevada Gold Mines”) Goldstrike complex. Carlin Trend 2023 2022 2021 M&I Resources (koz Au) 1,2 26,016 30,894 30,894 Inferred Resources (koz Au) 1,2 10,081 8,943 7,480 P&P Reserves (koz Au) 1,2 15,772 16,260 17,886 M&I Royalty Ounces (000s) 1,3 354 324 324 Inferred Royalty Ounces (000s) 3 137 94 79 P&P Royalty Ounces (000s) 3 215 171 188 1 Please refer to the tables on pages 118-124 for a breakout of grade and tonnages by Mineral Resource category for Carlin Trend; all M&I categories are inclusive of Mineral Reserves 2 Under the Nevada Gold Mines joint venture, Barrick now reports Goldstrike, Gold Quarry and South Arturo as part of the Carlin operation category. Mineral Resources and Mineral Reserves include Goldstrike, Gold Quarry and South Arturo as well as other properties where Franco-Nevada has no royalties or stream interests 3 For Royalty Ounce calculation, Franco-Nevada estimates 34% of the Carlin Trend Mineral Resources and Mineral Reserves (35% in 2022, 35% in 2021) are subject to our royalty interests on Goldstrike, Gold Quarry and South Arturo and estimates an average royalty rate of 4.0% is applicable (3.0% in 2022, 3.0% in 2021) Goldstrike 2023 2022 2021 Total NSR Revenue to FNV ($ million) $ 4.4 $ 5.5 $ 3.9 Total NPI Revenue to FNV ($ million) $ 8.7 $ 13.7 $ 21.4 Total Revenue to FNV ($ million) $ 13.1 $ 19.2 $ 25.3 M&I Resources (koz Au) 1 n/a n/a n/a Inferred Resources (koz Au) 1 n/a n/a n/a P&P Reserves (koz Au) 1 n/a n/a n/a M&I Royalty Ounces (000s) 2,3 n/a n/a n/a Inferred Royalty Ounces (000s) 3 n/a n/a n/a P&P Royalty Ounces (000s) 3 n/a n/a n/a 1 Please refer to the table above for the Carlin Trend Mineral Resources and Mineral Reserves which include Goldstrike 2 All M&I categories are inclusive of Mineral Reserves 3 Please refer to the table above for the Carlin Trend Royalty Ounce calculation which includes Goldstrike The Goldstrike complex is located on the Carlin Trend, about 60 km northwest of the town of Elko, Nevada and includes the open pit Betze-Post mine, as well as the underground operations of Meikle and Rodeo immediately to the north. Mining activity commenced on the property in 1976 and, since 1987, has been operated by Barrick. Franco-Nevada holds both NSR (2-4%) and NPI (2.4-6%) royalties at Goldstrike covering over 50% of the reported Mineral Reserves. This estimate includes low-grade ore that has been stockpiled. The royalties vary depending on the claim blocks, operating costs and capital investments, as shown in the schematic. As a result, royalty payments can vary substantially on a quarterly basis. Franco-Nevada anticipates royalty production in 2024 to be lower than 2023 due to fewer open pit stockpile tons being processed. Open pit stockpile tons are only processed through the roaster since the autoclave CIL conversion in Q1 2023. On July 1, 2019, Barrick (61.5%) and Newmont Corporation (“Newmont”) (38.5%) combined their significant assets across Nevada to create Nevada Gold Mines as a joint venture. Under this joint venture, Goldstrike is reported as part of the Carlin operation category by Barrick. Barrick announced 2023 production of 868 koz gold ounces from its 61.5% share of Carlin which includes Goldstrike, Gold Quarry and South Arturo as well as other properties where Franco-Nevada has no royalty interests. Nevada Gold Mines noted that Carlin gold production for 2023 was 10% lower compared to 2022, mainly due to the closure of the Gold Quarry concentrator at the beginning of the second quarter of 2023 and the conversion of the Goldstrike autoclave to a conventional CIL process in the first quarter of 2023. Barrick has reported 2024 production guidance of 800 koz to 880 koz gold ounces from its 61.5% share of Carlin. World class gold operation Focus asset for Barrick with substantial invested capital Profit royalties provide more leverage to gold prices Weimer 4% NSR Goldstrike Open Pit Mine Goldstrike Underground Mine Meikle/Rodeo SPLC Lease 6% NPI Bazza 2% NSR Bazza Strip 2% NSR 2.4% NPI Royal 3% NSR Extension 5% NPI 4% NSR Corbett 2% NSR Pandora 2% NSR Rodeo Creek 4% NSR Above 4600’ Post 5% NPI 4% NSR SJ 6% NPI Gold Bug 5% NPI 4% NSR Goldstrike 5% NPI 4% NSR Goldstrike Pacific Ocean Oregon Idaho Utah Nevada California Arizona Mexico Goldstrike Open Pit Mine FNV Royalties Goldstrike Underground mine Goldstrike 2-4% NSR / 2.4-6% NPI mile 0 1 N TSX / NYSE: FNV 44 ★ Franco-Nevada Corporation United States

G O L D Q U A R R Y Location: Nevada, United States | Operator: Nevada Gold Mines LLC | Precious Metals: Au | Royalty: NSR: 7.29% The Gold Quarry operation is part of the Nevada Gold Mines Carlin operations in north-central Nevada. 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 3.0 $ 4.9 $ 7.5 M&I Resources (koz Au) 1,2 n/a n/a n/a Inferred Resources (koz Au) 1 n/a n/a n/a P&P Reserves (koz Au) 1 n/a n/a n/a M&I Royalty Ounces (000s) 2,3 n/a n/a n/a Inferred Royalty Ounces (000s) 3 n/a n/a n/a P&P Royalty Ounces (000s) 3 n/a n/a n/a 1 Please refer to the table on page 44 for the Carlin Trend Mineral Resources and Mineral Reserves which include Gold Quarry 2 All M&I categories are inclusive of Mineral Reserves 3 Please refer to the table on page 44 for the Carlin Trend Royalty Ounce calculation which includes Gold Quarry Gold Quarry is a large open pit mine that has been in production since 1985 supplying ore as part of an integrated mining and processing complex. In 2019, Barrick (61.5%) and Newmont (38.5%) combined their significant assets across Nevada to create Nevada Gold Mines as a joint venture. Under this joint venture, Barrick reports Gold Quarry under its Carlin operations category and Newmont reports Gold Quarry under its Nevada Gold Mines category. Franco-Nevada’s royalty interest covers only a portion of the Gold Quarry property, as shown in the schematic. The Gold Quarry royalty is a 7.29% NSR based on production with a minimum payment obligation. The annual minimum royalty payment calculation is tied to Mineral Reserves and stockpiles attributed to the Gold Quarry royalty property. In the past, the operation has considered pit expansions including the West Wall Layback and the Greater Gold Quarry Expansion. In 2023, Franco-Nevada’s cumulative prepaid ounces delivered by Gold Quarry exceeded the attributable Gold Quarry known Mineral Reserves resulting in lower expected future minimum payments. Going forward, Franco-Nevada expects its royalty from Gold Quarry to be 1,350 GEOs per annum based on the minimum payment obligation. Gold Quarry Open Pit FNV Royalties Potential Greater Gold Quarry Expansion West Wall Layback 7.29% NSR 7.29% NSR Gold Quarry Open Pit Gold Quarry Pacific Ocean Oregon Idaho Utah Nevada California Arizona MEXICO mile 0.5 0 Gold Quarry 7.29% NSR N Annual minimum payment obligations Benefits from additional milling and roasting infrastructure following the formation of Nevada Gold Mines Registered on private lands Franco-Nevada Corporation ★ 45 TSX / NYSE: FNV South America

M A R I G O L D Location: Nevada, United States | Operator: SSR Mining Inc. | Precious Metals: Au | Royalty: NSR: 1.75-5% / GR: 0.5-4% The Marigold mine is located 64 km southeast of Winnemucca, Nevada on the Battle Mountain-Eureka Trend and is operated by SSR Mining Inc. (“SSR Mining”). 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 11.2 $ 7.5 $ 8.5 M&I Resources (koz Au) 1 4,603 5,004 5,004 Inferred Resources (koz Au) 1 370 252 252 P&P Reserves (koz Au) 1 2,863 3,410 3,410 M&I Royalty Ounces (000s) 1,2 113 126 154 Inferred Royalty Ounces (000s) 2 9 6 8 P&P Royalty Ounces (000s) 2 70 86 106 1 Please refer to the tables on pages 118-124 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 96% of the Mineral Reserves (97% in 2022, 96% in 2021), 96% of the M&I Mineral Resources (96% in 2022, 97% in 2021) and 96% of the Inferred Mineral Resources (97% in 2022, 96% in 2021) are subject to our royalty interest and estimates a rate of 2.55% is applicable (2.59% in 2022, 3.2% in 2021) The mine has been in continuous production since 1989 and is a large run-of-mine heap leach operation with several open pits. Franco-Nevada has various royalties on the operation (1.75-5% NSR and 0.5-4% GR), as shown in the schematic, together covering a significant portion of the current Mineral Reserve base. Franco-Nevada’s original royalties were acquired in connection with its IPO and, in December 2009, additional royalties covering alternate sections were added. In 2023, 21,846 kt of ore were placed on pads at a grade of 0.45 g/t versus 18,061 kt of ore placed on pads at a grade of 0.56 g/t in 2022. The mine had record production of 278,488 ounces of gold in 2023 versus 194,668 ounces in 2022. For 2024, SSR Mining expects production to be between 155 koz to 175 koz, with production of between 155 koz to 270 koz annually from 2025 to 2028. The current life of mine plan predicts a 9–year mine life, with life of mine production of 2.2 million ounces of gold. Royalty payments to Franco-Nevada will fluctuate depending on the royalty ground being mined. SSR Mining’s strategy to advance brownfields targets proximal to existing infrastructure continues to yield encouraging results and the company plans to continue its exploration drilling in 2024 with a $9 million budget. The focus will be on oxide mineral reserve additions and conversion at Buffalo Valley, Mackay, Valmy and New Millenium. Franco-Nevada royalty ground covers Mackay and portions of the Valmy and New Millenium targets. Record production in 2023 Continued resource expansion and encouraging exploration results Valmy Buffalo Valley and Trenton Canyon to the south. No FNV Royalty 5 North Pits 8 North Pit 8 South New Millenium Basalt & Antler Terry Zone North Terry Zone 1.75% NSR 1.75% NSR 1.75% NSR 1.75% NSR 5% NSR 5% NSR 5% NSR 5% NSR 5% NSR 5% NSR 5% NSR 5% NSR 5% NSR 5% NSR 5% NSR 5% NSR 3% NSR* 3% NSR* 3% NSR* 2.5%-4% GR* 2.5%-4% GR* 2.5%-4% GR* 2.5%-4% GR* 5% NSR 1.75% NSR Schematic Representation Only Valmy Mud Pits Red Dot Target Pit 2.5%- 4% GR* 0.5%-1.5% GR* Mackay Pit Marigold 1.75-5% NSR / 0.5-4% GR mile 1 0 Marigold Pacific Ocean Oregon Idaho Utah Nevada California Arizona MEXICO FNV Royalties Excluded from Royalty Pits * December 2009 Acquisition N Marigold, Nevada TSX / NYSE: FNV 46 ★ Franco-Nevada Corporation United States

B A L D M O U N T A I N Location: Nevada, United States | Operator: Kinross Gold Corporation | Precious Metals: Au | Royalty: NSR/GR: 0.875-5% The Bald Mountain mine lies within the Southern Ruby Mountains of northeastern Nevada along the southern extension of the prolific Carlin Trend, 110 km southeast of Elko. 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 11.7 $ 8.4 $ 11.2 M&I Resources (koz Au) 1 4,175 4,353 4,390 Inferred Resources (koz Au) 1 489 522 669 P&P Reserves (koz Au) 1 489 625 798 M&I Royalty Ounces (000s) 1,2 157 101 139 Inferred Royalty Ounces (000s) 2 18 11 23 P&P Royalty Ounces (000s) 2 19 22 16 1 Please refer to the tables on pages 118-124 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 Mineral Reserves (91% in 2022, 95% in 2021) and 99% of Mineral Resources (exclusive of Mineral Reserves) (96% in 2022, 95% in 2021) are subject to our royalty interest and estimates an average rate of 3.79% is applicable for Mineral Reserves and Mineral Resources (exclusive of Mineral Reserves) Ore is sourced from multiple open pits over an estimated 600 km 2 property with processing at multiple conventional heap leaching facilities. Bald Mountain is the largest private mining land package in the U.S. It stretches 40 km north to south and 15 km east to west and is divided in three zones: North Zone, South Zone and JV Zone. Franco-Nevada’s Bald Mountain royalties cover a significant portion of the Bald Mountain property. Royalty rates range from 0.875%-5% NSR/GR. A detailed map of the royalties is shown in the schematic. At the end of 2015, Kinross Gold Corporation (“Kinross”) purchased from Barrick 100% of the North and South Zones while forming a 50/50 exploration joint venture partnership with Barrick on the JV Zone in between the North and South Zones. During 2018, Kinross acquired the remaining 50% portion of the JV zone that it did not already own. In 2023, 17,306 kt of ore were placed on pads at Bald Mountain at a grade of 0.42 g/t versus 15,924 kt of ore at a grade of 0.50 g/t in 2022. Bald Mountain produced 157,749 ounces in 2023, a decrease from the 214,094 ounces produced in 2022, primarily due to the lower grades and timing of ounces recovered from the heap leach pads. The large scale of the Bald Mountain land package offers significant exploration upside, with multiple known mineralized bodies. In 2023, exploration focused on near-term growth enabling the addition of 78 koz to reserves. In 2024, the strategy will continue to focus on low-strip, near-pit extensions across six target areas in the North and South area of operations, as well as testing new target areas within the Bida trend. The Juniper Project EIS was advanced during the year with the publication of a notice of availability for the draft EIS in the Federal Register in August 2023. The next steps of the process will be publishing the Final EIS and issuing a Record of Decision. The Juniper Project would modify and expand operations within the North Operations Area (NOA) and potentially extend the NOA mine life by 11 years. Large land package and significant exploration upside Potential to add significant mine life through the Juniper Project FNV Royalties Excluded from Royalty Pits/Deposits * Subject to possible reduction by third-party royalty North Block South Block Galaxy Poker Flats Bida Saga Yankee Targets Lux/Vantage Targets Top Sage Flats Belmont Horseshoe 4% NSR 4% NSR 4% NSR 4% NSR 4% NSR * 4% NSR * 4% NSR * 4% NSR * 4% NSR * 4% NSR * 4% NSR * 0.875 to 1.75% NSR 2.418% NSR Royale 1%-5% GR Redbird 5 1 LJ Ridge Banghart South Ridge Rat North Duke South Duke 2/3 1%-5% GR Winrock Bald Mountain Oregon Idaho Utah Nevada California Arizona Mexico Pacific Ocean Bald Mountain 0.875-5% NSR / GR kilometer 2 0 N Franco-Nevada Corporation ★ 47 TSX / NYSE: FNV United States

S O U T H A R T U R O Location: Nevada, United States | Operator: Nevada Gold Mines LLC. | Precious Metals: Au | Royalty: GR: 4-9% with AMR South Arturo consists of a series of sediment hosted Carlin-style gold deposits adjacent to and including the former Dee gold mine, 60 km northwest of Elko, Nevada. 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 2.4 $ 3.9 $ 5.6 M&I Resources (koz Au) 1,2 n/a n/a n/a Inferred Resources (koz Au) 1 n/a n/a n/a P&P Reserves (koz Au) 1 n/a n/a n/a M&I Royalty Ounces (000s) 2,3 n/a n/a n/a Inferred Royalty Ounces (000s) 3 n/a n/a n/a P&P Royalty Ounces (000s) 3 n/a n/a n/a 1 Please refer to the table on page 44 for the Carlin Trend Mineral Resources and Mineral Reserves which include South Arturo 2 All M&I categories are inclusive of Mineral Reserves 3 Please refer to the table on page 44 for the Carlin Trend Royalty Ounce calculation which includes South Arturo The mine is located in close proximity to Nevada Gold Mines’ Goldstrike operations where the ore is processed at the refractory facilities. In July 2019, Barrick (61.5%) and Newmont (38.5%) combined their significant assets across Nevada to create Nevada Gold Mines as a joint venture. Under this joint venture, South Arturo is reported as part of the Carlin operation category by Barrick. Nevada Gold Mines acquired the 40% interest in South Arturo that it did not already own from i-80 Gold Corp. (“i-80 Gold”) effective June 1, 2021. The transaction provided Nevada Gold Mines with 100% of the project and all of the longer-term upside at the South Arturo pit and the El Niño underground, as well as flexibility to pursue other potential operational synergies at Goldstrike. Franco-Nevada holds a sliding scale gross royalty (4-9%) on production from South Arturo. The royalty rate depends on the type of ore (oxide versus non-oxide), as well as the grade (for oxide only). Franco-Nevada estimates a 4% royalty rate for the oxide mineralization and a 6% royalty rate for the non-oxide. The royalty agreement includes an annual minimum payment which is credited against any future production royalty payments. Production from El Niño and the Phase 1 pit began in 2019 and mining of the Phase 1 pit was suspended in December 2019 awaiting roasting capacity at Goldstrike. Nevada Gold Mines announced that the South Arturo open pit returned to production in December 2022 and mining continued throughout 2023. In January 2021, Premier Gold Mines Limited (“Premier”), the predecessor to i-80 Gold, released a positive prefeasibility study which included the underground El Niño mine and the proposed Phase 1 open pit. Based on the prefeasibility study, El Niño had a two-year mine life with 58,750 recoverable ounces and Phase 1 had an 18-year mine life with 664,000 recoverable ounces and production targeted to begin in 2025. Consolidated ownership Exploration success around newly recognized controlling structure at El Niño South Arturo Pacific Ocean Oregon Idaho Utah Nevada California Arizona Mexico South Arturo 4-9% GR with AMR Royalty Property Pits Excluded from Royalty Exploration Targets Dee Phase 1 Pit Phase 3 Pit Phase 2: Open pit completed El Nino U/G: Currently developing East Dee Target South Hinge Target 4-9% GR 4-9% GR mile 1 0 N TSX / NYSE: FNV 48 ★ Franco-Nevada Corporation United States

M E S Q U I T E Location: California, United States | Operator: Equinox Gold Corp. | Precious Metals: Au | Royalty: NSR: 0.5-2% Mesquite is a gold operation located in southeast California, 70 km northwest of Yuma, Arizona and 230 km east of San Diego, California. 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 3.1 $ 4.1 $ 4.4 M&I Resources (koz Au) 1 1,016 1,855 1,924 Inferred Resources (koz Au) 1 510 912 928 P&P Reserves (koz Au) 1 584 471 471 M&I Royalty Ounces (000s) 1,2 19 34 31 Inferred Royalty Ounces (000s) 2 9 17 15 P&P Royalty Ounces (000s) 2 11 9 8 1 Please refer to the tables on pages 118-124 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 1.85% is applicable The mine is an open pit, run-of-mine, heap leach operation. Franco- Nevada holds royalties on the entire Mesquite mine property that range from a 0.5-2% NSR, depending on the claim block, as shown on the schematic. In 2023, 16,988 kt of ore were placed on pads at Mesquite at a grade of 0.45 g/t versus 12,076 kt of ore at a grade of 0.42 g/t in 2022. Mesquite produced 87,753 ounces of gold in 2023, a decrease from 2022 ounces produced of 123,965 due to a smaller pit approach to reduce waste stripping and a longer leach cycle for some of the ore that was placed. For 2024, Equinox Gold anticipates production of 75 koz to 85 koz of gold, with approximately 65% of production expected in the first half of the year. Mining at Mesquite in 2024 will be focused on waste stripping the Ginger pit, which is expected to deliver the majority of ounces in early 2025. Efforts to establish additional mineral reserves through exploration and resource drilling are expected to continue along with permitting required to enable mine life extensions beyond 2024. An additional area that may be mined is the rehandling of the remainder of the Old Vista Pad material that will be re-stacked and leached on the current heap leach pad. Mesquite has produced in excess of 5 Moz Ongoing resource expansion and permitting to enable mine life extension Mesquite, California Brownie Big Chief Rainbow Vista 2% NSR 0.5% NSR 1% NSR Mesquite 0.5 -2% NSR Mesquite Pacific Ocean Oregon Idaho Utah Nevada California Arizona Mexico Royalty Property Pits mile 1 0 N Franco-Nevada Corporation ★ 49 TSX / NYSE: FNV United States

C A S T L E M O U N T A I N Location: California, United States | Operator: Equinox Gold Corp. | Precious Metals: Au | Royalty: NSR: 2.65-4.65% The Castle Mountain mining property is located in California, close to the Nevada border and is in the historic Hart Mining District, 120 km south of Las Vegas, Nevada. 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 1.1 $ 1.1 $ 1.5 M&I Resources (koz Au) 1 5,638 5,638 5,919 Inferred Resources (koz Au) 1 1,422 1,422 1,608 P&P Reserves (koz Au) 1 4,168 4,168 4,168 M&I Royalty Ounces (000s) 1,2 159 149 157 Inferred Royalty Ounces (000s) 2 40 38 43 P&P Royalty Ounces (000s) 2 118 110 110 1 Please refer to the tables on pages 118-124 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 2.82% is applicable The Castle Mountain mine is operated by Equinox Gold. The Castle Mountain land holdings total greater than 40 km 2 of patented and unpatented claims. The mine was previously operated by Viceroy Gold and MK Resources and produced over 1.2 million ounces of gold. Franco-Nevada currently holds a 2.65% NSR covering all of the existing Castle Mountain mine and extending 10 miles from the boundary of the mine. On May 2, 2022, Franco-Nevada acquired the ‘American Standard’ 2% NSR on the Pacific Clay claims, which comprise a portion of the JSLA pit. When combined with the 2.65% NSR, Franco-Nevada now has a 4.65% NSR on the Pacific Clay claims. Redevelopment of Castle Mountain is planned in two phases. Construction and commissioning of the Phase 1 mine was completed, and commercial production was achieved in November 2020. Castle Mountain produced 20,837 gold ounces in 2023, slightly lower than the 23,227 ounces of gold produced in 2022. Equinox Gold anticipates production of 30,000 to 35,000 ounces of gold in 2024. Equinox will perform an internal evaluation of the Phase 1 operation in 2024 to determine if operations will continue while permitting and engineering for the Phase 2 expansion is being advanced. A feasibility study for the Phase 2 expansion was released in March 2021. The Phase 2 project will expand ROM heap leaching and incorporate milling of higher-grade ore, increasing production to an average of 218,000 ounces per year and extending the total mine life to 21 years. Life-of-mine production including Phase 1 operations and end of mine life rinsing is estimated at 3.4 million ounces of gold. Phase 2 requires modification to Equinox Gold’s approved Mine and Reclamation Plan (“Plan”). The Plan amendment application was submitted to the lead agencies in March 2022. The lead agencies reviewed Plan completeness in early 2023 and the BLM requested minor Plan changes, which were resubmitted for final BLM review in Q3 2023. Equinox anticipates the BLM will determine the Plan complete during mid 2024 following its review and then enter into a Memorandum of Understanding with the County and Castle Mountain to conduct an EIS for the Phase 2 expansion. Equinox anticipates the draft EIS stage of formal environmental analysis to occur throughout 2024 and 2025. Equinox is guiding to receiving Phase 2 permits in 2026 and the 2021 feasibility study showed a two-year construction period. First production from Phase 2 is estimated to occur in 2028. Castle Mountain Mine Las Vegas Los Angeles Mexico California Nevada Oro Belle Mined Pit Jumbo Mined Pit JSLA Mined Pit South Waste Dump West Waste Dump Pacific Clay claims 4.65% NSR Heap Leach Pad 2.65-4.65% NSR Castle Mountain 2.65-4.65% NSR *Plus 10 Mile Area of Interest Royalty lands 2.65% NSR Pits 1,000 metre 0 2,000 N Phase 1 production ongoing until Phase 2 Permitting Phase 2 expansion to increase production to >200,000 ounces per year Franco-Nevada’s royalty covers entire project area with a 10-mile area of interest TSX / NYSE: FNV 50 ★ Franco-Nevada Corporation United States

S T I B N I T E G O L D Location: Idaho, United States | Operator: Perpetua Resources Corp. | Precious Metals: Au & Ag | Royalty: NSR: 1.7% Au, 100% Ag The Stibnite project is located in a historic mining town of the same name in Idaho, about 153 km northeast of Boise and is potentially one of the highest grade open-pit deposits in the U.S. 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ − $ − $ − M&I Resources (koz Au) 1 6,317 6,320 6,034 Inferred Resources (koz Au) 1 1,611 1,611 1,246 P&P Reserves (koz Au) 1 4,816 4,816 4,819 M&I Royalty Ounces (000s) 1,2 107 107 103 Inferred Royalty Ounces (000s) 2 27 27 21 P&P Royalty Ounces (000s) 2 82 82 82 1 Please refer to the tables on pages 118-124 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 1.70% is applicable The project is being advanced by Perpetua Resources Corp. (“Perpetua Resources”), who have consolidated 107 km 2 of unpatented and patented claims. Franco-Nevada holds a 1.7% NSR on gold production and will receive all the payable silver by-product revenue over the life-of-mine, subject to the terms of a Silver Agreement which was closed in March 2024. In December 2020, Perpetua Resources announced the results of a feasibility study on the Stibnite project. The project is expected to have a 15-year mine life with average annual gold production of 301,000 ounces per year. The first four years demonstrate an average annual gold production of 466 koz per year. The project consists of mining the Yellow Pine, Hangar Flats and West End deposits by conventional open pit. Based on the 2020 feasibility study, the Stibnite project would be the fourth largest U.S. gold operation and produce approximately 4-5 million ounces of gold based on total Mineral Resources and Mineral Reserves of approximately 6.3 million and 4.8 million ounces of gold, respectively. Total payable silver in the feasibility study is approximately 1 million payable ounces with 85% of the ounces produced after year 6 in the mine life. The United States Forest Service (“USFS”) released a Draft Environmental Impact Statement (“Draft EIS”) for public review in August 2020. Perpetua and the USFS advanced a modified proposed action that included stakeholder feedback on the Draft EIS, decreased the project footprint and improved environmental conditions. A Supplemental Draft EIS was published in October 2022 incorporating the changes to the original Draft EIS. The current project schedule assumes a final EIS and Draft Record of Decision will be released in Q2 2024 and a final Record of Decision issued in Q4 2024. Commercial operations are expected in 2028. Perpetua has received critical mineral awards of up to $75 million from the U.S. Department of Defense to advance antimony research, construction readiness, permitting and engineering of the project. Perpetua Resources plans for restoration of the site to include progressive and concurrent remediation, beginning at the start of construction and continuing through operations and project closure. Extensive reclamation and restoration of historical mining impacts are planned, with permanent fish access having been restored for the first time in 80 years. One of the largest and highest grade undeveloped open-pit deposits in the U.S. The Stibnite project would be the only domestic source of antimony mined in the U.S. Critical minerals awards of up to $75 million granted from the U.S. Department of Defense Royalty Property Prospects Mineral Deposits Patented Claims under option Utah Nevada California Stibnite Gold Project Boise Cascade McCall Coeur d'Alene Salt Yellow Pine Deposit West End Deposit Hangar Flats Deposit Historic Tailings Blow-out Mule Rabbit Scout Garnet Ridgetop Cinnamid Saddle Fern Upper Midnight Stibnite Gold 1.7% NSR Au 100% NSR Ag mile 0 1 N Franco-Nevada Corporation ★ 51 TSX / NYSE: FNV United States

S T E R L I N G Location: Nevada, United States | Operator: AngloGold Ashanti | Precious Metals: Au | Royalty: NSR: 0.25% Sterling is a historic gold operation located 185 km northwest of Las Vegas, Nevada near Beatty, Nevada. In 2022, AngloGold Ashanti acquired 100% of Coeur’s wholly owned subsidiary, Coeur Sterling, Inc., which owned the Sterling property. Franco-Nevada holds 1 / 8 th of a 2% NSR, or an effective 0.25% NSR royalty, on approximately 272 lode mining claims with a small minimum advance royalty. Sterling underground mining operations were terminated at the end of May 2015. The acquisition consolidates AngloGold Ashanti’s ownership position in the Beatty District allowing for optimal development of the assets centered on developing the North Bullfrog, Silicon and Merlin projects. As of December 31, 2023, AngloGold Ashanti reported 16.6Mozs of total Nevada mineral resource including .91Moz at Sterling. Franco-Nevada has not included Sterling in Royalty Ounce estimates G R A N I T E C R E E K ( P I N S O N ) Location: Pinson, United States | Operator: i-80 Gold Corp. | Precious Metals: Au | Royalty: NSR: 1-2% The Granite Creek (Pinson) project is located near Winnemucca, Nevada, at the intersection of the Getchell Gold Belt and the Battle Mountain-Eureka Trend. Franco-Nevada holds a 1-2% NSR on approximately 20 sections within the Getchell trend. This royalty includes a 2% NSR on Section 33 and a 1% NSR on the southern half of Section 32 within Granite Creek’s operating area, formally known as Pinson. Granite Creek (Pinson) is south of Nevada Gold Mines’ Turquoise Ridge mine and 13 km from its Twin Creeks mine complex. The historic Pinson mine produced 985 koz of gold from 1980 through 1999 by open-pit mining. In August 2020, Premier Gold Mines USA, Inc. acquired the outstanding interests of Osgood Mining Company LLC (“Osgood”) from affiliates of Waterton Global Resource. In 2021, Equinox Gold acquired Premier. Concurrently, Premier spun-out its US-focused gold production and development assets into i-80 Gold, which included the Granite Creek project. In July 2022, i-80 Gold announced they began shipping ore from operations at Granite Creek to Nevada Gold Mines’ Twin Creeks processing facility, as per the company’s toll-milling agreement. High- grade refractory mineralization is processed at the Twin Creeks facility and oxide mineralization is sold to a third-party through a negotiated ore sale agreement. Franco-Nevada’s royalty at Granite Creek does not cover the current underground workings, it does cover portions of the development-stage heap leach project. I-80 Gold is currently executing an extensive exploration and delineation drilling program targeting both the open pit and underground mineralization. The company expects to complete a Feasibility Study in 2024. Franco-Nevada has not included Granite Creek (Pinson) in Royalty Ounce estimates TSX / NYSE: FNV 52 ★ Franco-Nevada Corporation United States

Canada Island Gold Courageous Lake Musselwhite Hemlo Detour Lake Goldfields Timmins West Sudbury Macassa (Kirkland Lake) Golden Highway Canadian Malartic Cariboo Dublin Gulch (Eagle) Red Mountain Valentine Gold Greenstone Monument Bay Brucejack Eskay Creek Magino Red Lake (McFinley) Producing Advanced Franco-Nevada Corporation ★ 53 TSX / NYSE: FNV Canada

D E T O U R L A K E Location: Ontario, Canada | Operator: Agnico Eagle Mines Limited | Precious Metals: Au | Royalty: NSR: 2% Franco-Nevada has a 2% NSR royalty that covers an area of 140 km 2 of the Abitibi greenstone belt located 185 km northeast of Cochrane, Ontario including the Detour Lake mine. 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 25.9 $ 26.3 $ 25.3 M&I Resources (koz Au) 1 37,883 38,638 29,752 Inferred Resources (koz Au) 1 2,717 1,156 1,196 P&P Reserves (koz Au) 1 19,928 20,683 15,034 M&I Royalty Ounces (000s) 1,2 758 773 595 Inferred Royalty Ounces (000s) 2 54 23 24 P&P Royalty Ounces (000s) 2 399 414 301 1 Please refer to the tables on pages 118-124 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 2.0% is applicable From 1983 through 1999, Placer Dome Inc. operated an underground mine on the property producing approximately 1.8 million ounces of gold. Detour Gold Corporation (“Detour Gold”) drilled out a large open pittable resource and developed the current open pit mine with first production in 2013. Detour Lake rivals Canadian Malartic as Canada’s largest gold mine. Kirkland Lake Gold Ltd. (“KLG”) acquired Detour Gold in 2020 and Agnico Eagle Mines Limited (“Agnico Eagle”) and KLG merged in February 2022, with the combined company continuing as Agnico Eagle. The Franco-Nevada royalty includes all the Mineral Resources and Mineral Reserves on the property, except Detour Zone 58N (approximately 0.67 million ounces) which sits to the south of the main mineralized trend. Production at Detour Lake was 677,446 ounces of gold in 2023, compared with 732,572 ounces of gold in 2022. Production for Detour Lake is anticipated to be between 675,000 to 705,000 ounces of gold per year in 2024, 710,000 to 740,000 ounces in 2025 and 745,000 to 775,000 ounces in 2026. An updated technical evaluation announced in July 2022 outlined an expanded mine plan, extending the expected mine life by 10 years to 2052 and increasing longer term production rates. The study indicates average gold production of approximately 765,000 ounces per annum from 2026 to 2042 and then approximately 300,000 ounces per annum from 2043 to 2052 as stockpiles are processed at the end of the mine life. Mill expansion activities progressed as planned in 2023, and mill throughput rates of 25.4 Mtpa were achieved. Agnico Eagle expects the mill to reach a throughput rate of approximately 28 Mtpa in the second half of 2024. Agnico Eagle also sees the potential to reach a mill throughput rate of 29 Mtpa in 2026. In 2023, the exploration program at Detour Lake successfully defined continuity of mineralization below and west of the mineral reserves pit. This resulted in Agnico Eagle reporting an initial underground inferred mineral resource totaling 1.56 million ounces of gold (21.8 million tonnes grading 2.23 g/t gold) outside of the mineral resource pit. Work is ongoing to determine the optimal transition point from open pit to underground mining. With the expansion and underground mining study expected in H1 2024, Agnico Eagle has is targeting longer-term production of 1 Moz per year. The Detour Lake mine continues to have strong exploration upside primarily to the west and at depth, with potential for both an underground mine and extensions to the current four open pits. In 2024, exploration will continue to test and extend the west plunge of the main deposit. Agnico Eagle is considering building an exploration ramp to increase confidence in the mineralization's continuity in the inferred resource envelope and to potentially collect a bulk sample. Detour Lake, Ontario Ongoing exploration success Potential to add an UG component Agnico Eagle exploring pathway to one million ounces of gold per year TSX / NYSE: FNV 54 ★ Franco-Nevada Corporation Canada

North Pit Detour Lake Mine Quebec Ontario Mine Property Block D West Pit Gowest Property Main Pit Other Quebec royalty claims not shown Block E Zone 58N Block A Block B Block C North Pit Sunday Lake Deformation Zone Sunday Lake Deformation Zone Lower Detour Lake Deformation Zone Mineralization Mineral Reserve Pit Outline Mineral Resource Pit Outline 0.5-1% NSR 2% NSR 2% NSR 2% NSR 2% NSR 2% NSR 2% NSR 2% NSR Quebec Detour Lake Ontario Mineral Resource Pit Outline Mineral Reserve Pit Outline Mined Out Pit UG Development/Potential UG Pits FNV Royalties Detour Lake 2% NSR kilometer 0 5 N kilometer 0 1 West Pit West Pit Extension Open Open Main Pit Saddle Zone Saddle Zone Long Section North & West Pits West Pit Extension Main Pit Franco-Nevada Corporation ★ 55 TSX / NYSE: FNV Canada

S U D B U R Y Location: Ontario, Canada | Operator: KGHM International Ltd. | Precious Metals: PGM & Au | Stream: 50% Precious Metal Stream Franco-Nevada has three precious metals streams in the Sudbury basin of Ontario. 2023 2022 2021 PGM Revenue to FNV ($ million) $ 13.4 $ 18.3 $ 14.6 Gold Revenue to FNV ($ million) $ 4.2 $ 3.1 $ 2.8 Total Revenue to FNV ($ million) $ 17.6 $ 21.4 $ 17.4 PGM M&I Resources (koz PGM) 1 n/a n/a n/a PGM Inferred Resources (koz PGM) 1 n/a n/a n/a PGM P&P Resources (koz PGM) 1 n/a n/a n/a Gold M&I Resources (koz Au) 1 n/a n/a n/a Gold Inferred Resources (koz Au) 1 n/a n/a n/a Gold P&P Resources (koz Au) 1 n/a n/a n/a M&I Royalty Ounces (000s) 1,3 24 24 24 Inferred Royalty Ounces (000s) 1 - - - P&P Royalty Ounces (000s) 1 24 24 24 1 KGHM does not provide public estimates for Mineral Resources and Mineral Reserves. Previous estimates have not been updated in numerous years and thus Franco-Nevada has chosen not to continue to report these figures 2 For Royalty Ounce calculation, Franco-Nevada estimates 5 years of mining (5 years in 2022, 5 years in 2021) from McCreedy West are subject to our 50% stream interest to which a 40% margin factor (40% in 2022, 40% in 2021) has been applied based on assumed ongoing payments of 60% of the spot price. Platinum and palladium have been converted to Royalty Ounces assuming $1,950/ounce Au, $800/ounce Pt and $900/ounce Pd ($1,800/ounce Au, $900/ounce Pt and $1,500/ounce Pd in 2022, $1,800/ounce Au, $1,000/ounce Pt and $2,100/ounce Pd in 2021). Note that this stream interest is calculated based on contained ounces in ore as there are no losses associated to metallurgical recoveries in the calculation of the Royalty Ounce Franco-Nevada is entitled to purchase 50% of the precious metals contained in ore produced from the footwall portions of three separate mines subject to ongoing payments per ounce. The streams are calculated based on contained precious metals in the delivered ore rather than payable metals. The streams were acquired as part of Franco-Nevada’s acquisition of Gold Wheaton Gold Corp. (“Gold Wheaton”) in March 2011. At the time of acquisition by Franco-Nevada, the mines were operated by Quadra FNX Mining Ltd. (“Quadra FNX”) which was subsequently acquired by KGHM International Ltd. (“KGHM”) in March 2012. The three mines are the Levack (Morrison Deposit), Podolsky and McCreedy West mines. The footwall deposits are primarily rich in palladium followed by platinum and gold. KGHM does not have processing facilities in Sudbury and sells the ore to third parties for processing. Currently all ore is being processed by Vale’s Clarabelle plant in Sudbury. McCreedy West Mine: The stream agreement applies to the PM and 700 deposits at the McCreedy West mine. McCreedy West stopped mining the precious metal-rich ores in the PM deposit in 2011. Franco-Nevada agreed to renegotiate the existing contract with KGHM, and mining restarted in September 2018. In February 2021, KGHM approved an updated life of mine plan which extended mining operations at the McCreedy West mine for another five years. To support this extension of operations in mid-2021, Franco-Nevada agreed to increase its purchase price per GEO, from $800 per ounce to 60% of the prevailing monthly average gold spot price during periods when monthly average gold prices exceed $1,333 per ounce subject to a cap of $1,200 per ounce. McCreedy is expected to be the main source of revenue from Sudbury to Franco-Nevada in 2024 and is expected to operate through the end of 2028. Levack (Morrison Deposit): This mine was operated between 2007 and 2019 and is currently on care and maintenance. Podolsky Mine: The stream agreement applies to the 2000 and North deposits at the Podolsky mine which operated between 2008 and 2013. The mine is currently on care and maintenance, but KGHM is reviewing the possible restart of the mine. Quebec Ontario Sudbury kilometer 5 0 N Sudbury 50% Precious Metals Stream Podolsky Levack (Morrison Deposit) McCreedy West Strathcona Mill Creighton Nickel Rim South Totten Coleman Copper Cliff Smelter Clarabelle Mill Sudbury Sudbury Igneous Complex Chelmsford Formation Onaping & Onwatin Formations Current and Former Mines Mill Smelter Stream Properties TSX / NYSE: FNV 56 ★ Franco-Nevada Corporation Canada

H E M L O Location: Ontario, Canada | Operator: Barrick Gold Corporation | Precious Metals: Au | Royalty: NSR: 3% / NPI: 50% The Hemlo gold mine has been in production for over 30 years and is located adjacent to the Trans-Canada highway near Marathon, Ontario. 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 22.7 $ 28.2 $ 27.6 M&I Resources (koz Au) 1 3,200 3,600 2,600 Inferred Resources (koz Au) 1 620 580 820 P&P Reserves (koz Au) 1 1,700 1,700 1,100 M&I Royalty Ounces (000s) 1,2 120 137 127 Inferred Royalty Ounces (000s) 2 23 22 40 P&P Royalty Ounces (000s) 2 64 65 54 1 Please refer to the tables on pages 118-124 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 approximately 20% of the publicly reported Mineral Resources and Mineral Reserves for Hemlo are on its royalty ground and estimates a rate of 3.75% (3.81% in 2022, 4.90% in 2021) is applicable when factoring our NSR and NPI interests. Please see page 19 for our methodology on calculating Royalty Ounces for an NPI Barrick is the operator and manages both the open pit and underground operations. Franco-Nevada has both a 3% NSR royalty and a 50% NPI royalty on a portion of the western down-dip underground extension, principally the Lower C Zone, of the Hemlo ore body as shown in the longitudinal schematic. Mining on the royalty property began in late 2008, but revenues were limited to the 3% NSR royalty. The 50% NPI portion of the royalty began paying in the third quarter of 2012 after the upfront capital costs had been recovered by Barrick. Production at Hemlo was 141,000 ounces of gold in 2023 versus 133,000 ounces of gold in 2022. All-in sustaining costs, which is important to take into consideration with respect to the NPI royalty, decreased from $1,788 per ounce in 2022 to $1,672 per ounce in 2023. Gold production in 2023 was below the guidance range, primarily due to interruptions to the underground operations in the fourth quarter, including a fire which damaged some ventilation infrastructure, leading to delays in ramping back up, coupled with underground interruptions earlier in the year. Barrick is forecasting 2024 estimated production of 140,000 to 160,000 ounces at an all-in sustaining cost of between $1,600 to $1,700 per ounce. Barrick announced that it expects production from Hemlo to increase in 2024 relative to 2023 and Franco-Nevada expects a higher proportion to be sourced from our royalty ground. Barrick also reported that production at a new pushback in the Hemlo open pit was permitted and planned to commence in the second half of 2025. During 2023 reserve conversion drilling from surface targeted E-Zone and Horizon west of the C-Zone. Drilling confirmed the modeled continuity of mineralization, while also increasing the understanding of lithological controls on mineralization in the Horizon zone. Hemlo, Ontario Quebec Ontario Hemlo Hemlo 3% NSR / 50% NPI Long Section ‘C’ Zone Pit Williams Shaft & Mill Surface Mined Area 3% NSR + 50% NPI ‘C’ Zone ‘B’ Zone 9975 9765 9555 9450 9240 9160 Mined Area Williams Mine Franco-Nevada Royalty Ground Increased output expected in 2024 Profit royalties provide more leverage to gold prices Franco-Nevada Corporation ★ 57 TSX / NYSE: FNV Canada

B R U C E J A C K Location: British Columbia, Canada | Operator: Newmont Corporation | Precious Metals: Au & Ag | Royalty: NSR: 1.2% In May 2013, Franco-Nevada purchased an existing 1.2% NSR royalty covering Newmont Corporation’s (“Newmont”) Brucejack gold project in northwestern British Columbia. 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 5.9 $ 5.8 $ 7.0 M&I Resources (koz Au) 1,2 3,600 7,200 7,200 Inferred Resources (koz Au) 1,2 4,000 3,100 3,100 P&P Reserves (koz Au) 1,2 3,100 3,900 3,900 M&I Royalty Ounces (000s) 1,2,3 43 86 86 Inferred Royalty Ounces (000s) 2,3 48 37 37 P&P Royalty Ounces (000s) 2,3 37 47 47 1 Please refer to the tables on pages 118-124 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 Does not include silver Mineral Resources or Mineral Reserves 3 For Royalty Ounce calculation, Franco-Nevada estimates that 100% of the remaining Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates a rate of 1.2% is applicable The project includes two principal deposits, the Valley of the Kings and the West Zone. The mine was developed by Pretium Resources Inc. (“Pretium”) and commenced production in 2017. Newcrest Mining Limited (“Newcrest”) acquired Pretium in early 2022, with Newmont acquiring Brucejack through its acquisition of Newcrest in November 2023. Brucejack produced approximately 315,000 ounces of gold in 2023 versus 250,357 in the full 2022 calendar year. Newmont is expecting Brucejack to produce approximately 310,000 ounces of gold for 2024. Pretium’s guidance in March 2020 stated a life of mine average annual production of approximately 311,000 ounces of gold with a 13-year mine life. Production at Brucejack was impacted by a temporary suspension of operations in October 2022 and in December 2023, Newmont suspended mining operations at the site to conduct a full investigation following a tragic fatality. The site ramped up to full operations by the end of January 2024 and is focused on the integration and implementation of Newmont’s Fatality Risk Management program, which is designed to ensure safe operations, as well as Newmont’s Full Potential program to deliver synergies. In February 2024, Newmont issued updated mineral reserves. The reduced mineral inventory encompasses a total Proven and Probable Mineral Reserve of 3.1 million ounces of gold (11.5 million tonnes grading 8.44 g/t), an exclusive M&I Resource of 0.5 million ounces of gold (1.8 million tonnes grading 7.64 g/t) and an Inferred Resource of 4.0 million ounces of gold (12.1 million tonnes grading 10.35 g/t). Drilling in 2023 continued to intersect significant mineralization outside the current Mineral Resource. Drilling from the underground continued to test the extents of the HBX Domain, demonstrating the potential for further resource growth. A surface exploration program to test the potential of the Valley of the Kings deposit beyond the limits of current underground development was completed during Q3 2023, with several targets identified for drilling. These results were a follow-up from exploration drilling done in 2022 that confirmed the potential for resource growth at the Valley of the Kings deposit and surrounding area. High-grade results were returned from the 1080 HBx Zone and Golden Marmot during 2022, both areas which are covered by Franco-Nevada’s royalty and located outside of the current published resource. Near-mine exploration targets on royalty ground outside of the West Zone include the Bridge Zone, Shore Zone, Gossan Hill Zone, SG Zone, Bonanza Zone and the western portion of the Flow Dome Zone. Newmont advancing synergies post Newcrest acquisition High-grade results from Golden Marmot and 1080 HBx Zone on royalty ground Covered by Royalty Brucejack Property Excluded from Royalty West Zone Gossan Hill Zone Hanging Glacier Zone Bonanza Zone Bridge Zone Shore Zone SG Zone Snowfield Golden Marmot Zone Brucejack Mine Valley of the Kings kilometer 0 2 N Brucejack 1.2% NSR 1.2% NSR Vancouver British Columbia Stewart Brucejack Property Flow Dome Zone Brucejack Lake TSX / NYSE: FNV 58 ★ Franco-Nevada Corporation Canada

M A C A S S A ( K I R K L A N D L A K E ) Location: Ontario, Canada | Operator: Agnico Eagle Mines Limited | Precious Metals: Au | Royalty: NSR: 1.5-5.5%/NPI: 20% Franco-Nevada has various royalties covering approximately 170 km 2 of the Larder Lake and Main Breaks in the historic Kirkland Lake gold camp of Ontario. 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 6.3 $ 5.5 $ 5.8 M&I Resources (koz Au) 1 3,856 3,770 3,934 Inferred Resources (koz Au) 1 3,144 3,175 3,781 P&P Reserves (koz Au) 1 2,137 1,913 1,856 M&I Royalty Ounces (000s) 1,2 64 63 66 Inferred Royalty Ounces (000s) 2 57 58 70 P&P Royalty Ounces (000s) 2 33 29 28 1 Please refer to the tables on pages 118-124 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves. The table above is the sum of reported Agnico Eagle Mineral Resources and 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 1.5% is applicable to Macassa and a rate of 2.0% is applicable to Amalgamated Kirkland (AK), Anoki-McBean and Upper Canada Agnico Eagle is the largest landowner in the Kirkland Lake camp following its merger with Kirkland Lake Gold in February 2022. Agnico Eagle now owns and operates the Macassa mine which includes production from the Main Break, ’04 Break, the high-grade South Mine Complex (“SMC”) and the Amalgamated Kirkland deposit. Historically, shaft capacity at the Macassa #3 shaft was approximately 2,250 tpd and in 2019 Kirkland Lake Gold started sinking the new #4 shaft. The shaft was commissioned in 2023 and has increased the ore hoisting capacity at the complex to 4,000 tpd. Franco-Nevada’s Kirkland Lake royalty interests with Agnico Eagle include: • An overlying 1.5% NSR on Agnico Eagle’s properties surrounding and including the Macassa mine • An underlying 20% profit-based royalty immediately to the southwest of the SMC as shown in the inset of the schematic • An underlying 2-3% NSR on claims to the west of current operations • An underlying 2% NSR royalty on the extension of Amalgamated Kirkland (“AK”) • A 2% NSR on AK, Upper Canada, Anoki-McBean, Canadian Kirkland and the surrounding land packages In 2023, Macassa produced 228,535 ounces of gold compared to 200,833 ounces of gold in 2022. Production in 2024 is forecast to be between 265,000 to 285,000 ounces of gold. In 2025 and 2026, current guidance of between 320,000 to 340,000 and 330,000 to 350,000, respectively. At Macassa, the mill is expected to reach its nominal capacity of 1,650 tpd in mid-2024. Overall, Agnico Eagle believes that the Macassa mine has the potential to maintain production in excess of 300,000 ounces of gold per year based on expected exploration results. The Near Surface (“NSUR”) deposit and AK deposit are accessible from an existing surface ramp at Macassa and both deposits have now been incorporated into Macassa’s production guidance for 2024 to 2026. Production from the NSUR deposit is planned to be processed at the Macassa mill in the first half of 2024 and at the LZ5 processing facility at the LaRonde complex in the second half of 2024. Production from these two deposits is forecast to be approximately 19,000 ounces of gold in 2024 and between 35,000 ounces to 50,000 ounces of gold from 2025 to 2028. Franco-Nevada’s multiple royalties at Macassa include a 2% NSR on the AK deposit, a 1.5% NSR on the NSUR, as well as an overlapping area between the two deposits, the AK extension, where both the overlying 1.5% NSR and an underlying 2% NSR apply. Agnico Eagle believes that the AK area remains prospective for future mineral resource growth. Franco-Nevada’s 2% NSR royalty, covering a number of claims held by Agnico Eagle from its acquisition of Osisko Mining Corporation in April 2014, covers the AK, Upper Canada, Anoki-McBean and Canadian Kirkland deposits. Work is ongoing to evaluate the potential to develop Upper Canada and Anoki- McBean as potential ore feed to existing milling infrastructure in the region. #4 Shaft completed Large land position in historical mining area covering multiple known deposits Exploration potential on royalty ground at AK and Upper Canada Quebec Ontario Kirkland Lake Teck Twp. Otto Twp. Bernhardt Twp. Teck Twp. Teck Twp. Grenfell Twp. Teck Twp. Lebel Twp. Kirkland Lake Swastika Macassa #3 Shaft Macassa #2 Shaft Gracie West Teck-Hughes Lakeshore Kirkland Minerals 2% NSR AK Extension South Mine Complex Kirkland Lake West (KLW) Wright- Hargreaves Macassa #4 Shaft Macassa #1 Shaft Amalgamated Kirkland (AK) Macassa Overlying 1.5% NSR 2% NSR – AK and surrounding land package Fault Mineralized Breaks Gold Showings Mine Shafts Excluded from Royalty 20% NPI 3% NSR 2% NSR 2% NSR 2% NSR 2% NSR 2% NSR 2% NSR Anoki-McBean 24 M oz. Kirkland Main Break King Kirkland Dobie Biroco 180 East 13 M oz. Larder Lake Break Esker Upper Beaver Swastika Kirkland Lake Upper Canada Amalgamated Kirkland (AK) 66 kilometer 0 1 Macassa (Kirkland Lake) 1.5-5.5% NSR / 20% NPI N Franco-Nevada Corporation ★ 59 TSX / NYSE: FNV Canada

D U B L I N G U L C H ( E A G L E ) Location: Yukon, Canada | Operator: Victoria Gold Corp. | Precious Metals: Au | Royalty: NSR: 1-1.5% Franco-Nevada has a 1% NSR on the Eagle Gold mine which is owned and operated by Victoria Gold Corp. (“Victoria Gold”). 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 3.3 $ 2.6 $ 3.1 M&I Resources (koz Au) 1 4,304 4,304 4,397 Inferred Resources (koz Au) 1 497 497 361 P&P Reserves (koz Au) 1 2,407 2,407 3,061 M&I Royalty Ounces (000s) 1,2 43 43 44 Inferred Royalty Ounces (000s) 2 5 5 4 P&P Royalty Ounces (000s) 2 24 24 31 1 Please refer to the tables on pages 118-124 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 1.0% is applicable The Eagle deposit is part of the larger Dublin Gulch claim block and is located in central Yukon. In addition, Franco-Nevada has a 1.5% NSR on the Lynx properties (part of the Dublin Gulch claim) which is subject to a C$15,000 annual advance royalty payment and is capped at C$1,500,000. In July 2020, the Eagle Gold mine achieved commercial production. In 2023, the operation produced 166,730 ounces of gold compared with 150,182 ounces of gold in 2022. Gold production for 2024 is estimated to be between 165,000 and 185,000 ounces. In February 2023, Victoria Gold announced an updated technical report for the Eagle Gold mine envisioning total gold production of two million ounces over a mine life of 12 years starting in 2023. Production will average 202,000 ounces of gold per year over the first eight years, with peak production of 219,000 gold ounces in 2025. Optimizations incorporated into the 2023 technical report include year-round stacking on the heap leach facility, stockpiling of lower grade material for end of mine life processing, and utilization of a mobile crusher to supplement and increase production rates. Franco-Nevada’s royalty is estimated to cover the entire Eagle deposit which contains Mineral Reserves of 2.41 million ounces (118 million tonnes grading 0.64 g/t) and a small portion of the satellite Olive deposit which contains Mineral Reserves of 0.18 million ounces (7 million tonnes grading 0.84 g/t). Mineralization at Eagle has been drill tested to a depth of 850m and remains open at depth. Victoria Gold continues to explore the broader land package targeting Lynx (on royalty ground) as well as Raven (not on royalty ground). In 2023, exploration on the Lynx property consisted of additional trenching and soil sampling on Franco-Nevada’s royalty ground. kilometer 0 2.5 N Dublin Gulch (Eagle Deposit) 1-1.5% NSR Nugget-Raven Whiskey Wrinkles Eagle Extension Wolf-Tungsten Catto Olive- Shamrock Popeye Eagle West Rex Peso Eagle Mine Access Road Lynx Mar Zone Property Len Zone Property Eagle Gold Mine Dublin Gulch (Eagle Deposit) Yukon Northwest Territories Alaska British Columbia Lynx Royalty 1.5% NSR (capped) Eagle Royalty 1% gross return royalty Bluto Gold production increasing Updated technical report in 2023 with 12-year mine plan Exploration potential both near-mine and across the broader land package TSX / NYSE: FNV 60 ★ Franco-Nevada Corporation Canada

M U S S E L W H I T E Location: Ontario, Canada | Operator: Newmont Corporation | Precious Metals: Au | Royalty: NPI: 5%/NSR: 2% Franco-Nevada has a 5% NPI royalty that covers all of the original leased lands at the Musselwhite operation. 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 2.8 $ 1.5 $ - M&I Resources (koz Au) 2 1,800 2,410 2,200 Inferred Resources (koz Au) 2 200 410 440 P&P Reserves (koz Au) 2 1,500 1,920 1,770 M&I Royalty Ounces (000s) 2,3 28 39 47 Inferred Royalty Ounces (000s) 3 3 7 9 P&P Royalty Ounces (000s) 3 24 31 38 1 Revenue to Franco-Nevada represents the actual NPI revenue paid and earned for each year 2 Please refer to the tables on pages 118-124 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 3 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 1.58% (1.6% in 2022, 2.2% in 2021) is applicable assuming an all in cost of $1,335/ounce ($1,222/ounce in 2022, $1,026/ounce in 2021). Please see page 19 for our methodology on calculating Royalty Ounces for an NPI The area is estimated to cover 120 km 2 in northwestern Ontario, 480 km north of Thunder Bay. The royalty also covers an area of interest surrounding the property as shown in the schematic. Franco-Nevada’s Musselwhite interest is a profit royalty which first become payable when historical capital and operational costs had been recovered by the operator in 2011. In September 2019, Franco-Nevada acquired from Premier a 2% NSR on property owned by Newmont, adjoining Musselwhite, and covering approximately 6.3 km 2 of the projected northwest extension of Newmont’s Musselwhite mine, as shown in the schematic. The mine is a fly-in and fly-out underground operation which began operating in April 1997 and has been ramping back up to full production levels following a fire at the mine in March 2019 and subsequent COVID-19 restrictions. The Materials Handling Project, which reached commercial production in December 2020, has enabled hoisting of ore through an underground winze resulting in reduced reliance on high-cost truck haulage. This has led to improved energy efficiency, reduced ventilation requirements, reduced mining costs and an enhanced production profile. Musselwhite produced 180,000 ounces of gold in 2023, versus 173,000 ounces of gold in 2022, and reported 1.5 million ounces of gold Mineral Reserves as of December 31, 2023. 2024 production is expected to be 190,000 gold ounces. All-in sustaining costs are expected to be $1,620 per ounce in 2024, versus $1,843 per ounce in 2023. In February 2024, Newmont reported that Musselwhite is one of six non-core assets that the company intends to divest. In 2024, Franco-Nevada anticipates payments from its NPI royalty from Musselwhite to increase compared to the prior year. Production level increasing NPI leverage to the gold price Large land package with additional royalty covering the projected northwest extension of Musselwhite Musselwhite, Ontario kilometer 3 1.5 0 N Musselwhite 5% NPI / 2% NSR Leased Lands Unpatented Lands Deposits Outside Boundary 5% NPI Quebec Ontario Musselwhite Main Mine Trend Mill Outside Boundary 5% NPI Opapimiskan Lake Karl Zeemal Area PQD North Saddle Lynx Zone 5% NPI 5% NPI 5% NPI 5% NPI 5% NPI 5% NPI Canoe Zone Camp Zone West Anticline Zone Bay Zone 2% NSR 2% NSR Zeemel Lake Franco-Nevada Corporation ★ 61 TSX / NYSE: FNV Canada

T I M M I N S W E S T Location: Ontario, Canada | Operator: Pan American Silver Corp. | Precious Metals: Au | Royalty: NSR: 2.25% Franco-Nevada’s Timmins West 2.25% NSR royalty covers a large land package of approximately 130 km 2 to the west of the City of Timmins, Ontario. 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 4.1 $ 3.2 $ 3.2 M&I Resources (koz Au) 1 652 675 675 Inferred Resources (koz Au) 1 79 24 24 P&P Reserves (koz Au) 1 467 541 541 M&I Royalty Ounces (000s) 1,2 15 15 15 Inferred Royalty Ounces (000s) 2 2 1 1 P&P Royalty Ounces (000s) 2 11 12 12 1 Please refer to the tables on pages 118-124 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 2.25% is applicable The Timmins West property hosts the Timmins, Thunder Creek and 144 Gap deposits as well as the Gold River Trend exploration zone. Franco- Nevada acquired the royalty from Lake Shore Gold Corp. (“Lake Shore Gold”) in 2012, after Lake Shore Gold put the property into full commercial production in 2011. Lake Shore Gold was acquired by Tahoe Resources Inc. (“Tahoe Resources”) in April 2016, which was subsequently acquired by Pan American Silver Corp. (“Pan American Silver”) in February 2019. Under Pan American Silver, public reporting for both the Timmins West and Bell Creek underground mines has been consolidated into its Timmins operations (Franco-Nevada does not have a royalty on Bell Creek). Franco-Nevada estimates that Timmins West represented approximately 60% of the Timmins operations production in 2023. Pan American Silver produced 132,900 ounces of gold from its Timmins operations in 2023 versus 134,600 ounces of gold in 2022. Pan American expects to produce between 125,000 to 135,000 ounces of gold from its Timmins operations in 2024. Ore from both the Timmins West and Bell Creek mines is processed at the Bell Creek mill. Pan American Silver holds a significant land position in the Timmins Camp and exploration success has extended mine life with potential for exploration upside in the future. Bell Creek Mine & Mill Destor-Porcupine Fault Burrows Benedict Fault Mattagami River Fault Bell Creek Complex Timmins Deposit Thunder Creek Deposit Gold River Trend 144 Gap Zone Deposit Timmins West Timmins Dome Mine Hollinger McIntyre Hoyle Pond Pamour Mine Quebec Ontario Timmins West Timmins West 2.25% NSR kilometer 20 0 N Deposits UG Mine Shaft Excluded from Royalty FNV Royalties 101 2.25% NSR Steady production levels Exploration success has extended the mine life Large land package providing exploration upside TSX / NYSE: FNV 62 ★ Franco-Nevada Corporation Canada

C A N A D I A N M A L A R T I C Location: Quebec, Canada | Operator: Agnico Eagle Mines Limited | Precious Metals: Au | Royalty: GR: 1.5% In June 2011, Franco-Nevada purchased a 1.5% gross royalty on part of the Canadian Malartic gold project. 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 1.6 $ 2.3 $ 2.4 M&I Resources (koz Au) 1 7,853 8,314 5,214 Inferred Resources (koz Au) 1 3,545 2,772 6,236 P&P Reserves (koz Au) 1 7,609 3,010 3,534 M&I Royalty Ounces (000s) 1,2 26 25 13 Inferred Royalty Ounces (000s) 2 37 28 32 P&P Royalty Ounces (000s) 2 25 5 5 1 Please refer to the tables on pages 118-124 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 21% of the Mineral Reserves (10% in 2022, 9% in 2021), 22% of the M&I Mineral Resources (20% in 2022, 16% in 2021) and 70% of the Inferred Mineral Resources (68% in 2022, 34% in 2021) are subject to our royalty interest and estimates a rate of 1.5% is applicable The project is located in Quebec’s Abitibi mining district and rivals Detour Lake as Canada’s largest gold producer. The royalty covers seven claims on the property including the central portion of the open pit as shown in the schematic which equates to approximately 3 km 2 . Royalty payments are expected to fluctuate annually based on the location of mining relative to the royalty property. In January 2023, the ownership of Canadian Malartic was consolidated under Agnico Eagle as part of the acquisition of Yamana’s Canadian assets. On a 100% basis, Canadian Malartic produced 684,640 ounces of gold in 2023 versus 2022 production of 658,792 ounces of gold. Gold production at Canadian Malartic in 2024 is estimated to be between 615,000 and 645,000 ounces on a 100% basis. Production is forecast in 2025 and 2026 to be between 600,000 to 630,000 ounces and 545,000 to 575,000 ounces, respectively on a 100% basis. In 2024, production is expected to be sourced from the Barnat pit and the Odyssey mine, complemented by ore from the low-grade stockpiles. As of December 31, 2023, the Canadian Malartic open-pit mine contains Proven and Probable Mineral Reserves of 2.4 million ounces of gold (90.8 million tonnes grading 0.83 g/t Au). Franco-Nevada estimates that roughly 15% of the Mineral Reserves of the open pit complex are subject to our royalty interest. The Odyssey project hosts three main zones: East Gouldie, East Malartic, and Odyssey (which is further sub-divided into Odyssey North, Odyssey South and Odyssey Internal). The Odyssey underground project, which is accessing Odyssey South and the upper deposits by ramp and the deeper mineralization including East Gouldie by shaft, supports a mine life to at least 2039 and post 2029 is expected to produce an average of 545,400 ounces of gold per year. Agnico Eagle reported that the planned mining rate of 3,500 tonnes per day at Odyssey South was reached earlier than anticipated and that ramp development also exceeded target. The Odyssey mine is expected to contribute approximately 80,000 ounces of payable gold to the Canadian Malartic complex in 2024, 2025 and 2026. With the depletion of the Canadian Malartic pit in 2023 and the transition to in-pit tailings disposal which is expected to start in mid-2024, Agnico Eagle is evaluating opportunities to further increase the mill throughput up to 60,000 tpd. One of Franco-Nevada’s royalty claims covers a portion of the Odyssey South extension and two of Franco- Nevada’s royalty claims cover a portion of East Gouldie, as seen in the schematic below. A 1,800m deep shaft is planned to facilitate production from East Gouldie. Development is ahead of schedule and Agnico Eagle is evaluating the potential to accelerate initial production from East Gouldie to 2026 from 2027. Infill and expansion drilling in 2023 resulted in the declaration of an initial mineral reserve in the central portion of the East Gouldie deposit of 5.17 million ounces of gold (47.0 million tonnes grading 3.42 g/t gold) and the extension of the East Gouldie mineral resource laterally by 870 meters, increasing Franco-Nevada’s coverage of East Gouldie. From the March 2021 technical report, which summarized the internal preliminary economic assessment for the Odyssey project, approximately 5 million ounces of the 6.9 million ounces expected to be produced from the Odyssey project over the 17-year mine life are from East Gouldie. It is also estimated that Franco-Nevada’s East Gouldie claims now cover approximately 24% of the East Gouldie reserve with infill and step-out drilling to the west of the East Gouldie zone continuing to support continuity and scale. Long-life asset transitioning to underground production Open pit and underground exploration targets present additional potential ore sources Potential for East Goldie to extend further onto royalty grounds Canadian Malartic 1.5% GR Mill Malartic (town site) Hwy 117 deviation Rail line Rail line East Gouldie Barnat Pit Canadian Malartic Pit East Malartic Jeffrey Pit Sheehan Odyssey Jupiter Odyssey South Odyssey North Gouldie FNV Royalties Quartz Veins Mineralized Envelopes Open Pit Quebec Ontario Canadian Malartic 1.5% GR 1.5% GR 1.5% GR 1.5% GR 1.5% GR 1.5% GR kilometer 1 0 N Franco-Nevada Corporation ★ 63 TSX / NYSE: FNV Canada

FNV Royalties Island Gold Royalty Resource Pit Reserves + Resources Magino 2% NSR kilometer 2 0 N Granodiorite Resource Pit Magino Royalty Area 2% NSR 2% NSR 0.62% NSR Granodiorite 2% NSR Island Gold (Alamos) Royalty Area Quebec Ontario Magino M A G I N O Location: Ontario, Canada | Operator: Argonaut Gold Inc. | Precious Metals: Au | Royalty: NSR: 3% Franco-Nevada hold an aggregate 3% NSR on Argonaut Gold Inc.’s Magino gold mine in Ontario. 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 1.3 $ – $ – M&I Resources (koz Au) 1 4,557 4,019 – Inferred Resources (koz Au) 1 843 526 – P&P Reserves (koz Au) 1 2,361 2,427 – M&I Royalty Ounces (000s) 1,2 137 80 – Inferred Royalty Ounces (000s) 2 25 11 – P&P Royalty Ounces (000s) 2 71 49 – 1 Please refer to the tables on pages 118-124 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 3.0% is applicable (2.0% in 2022) Magino is located in Ontario, approximately 14 km southeast of the town of Dubreuilville and is owned and operated by Argonaut Gold Inc. (“Argonaut Gold”). In March 2024, Alamos Gold Inc. (“Alamos”) announced the entering into of a definitive agreement to acquire Argonaut Gold. Alamos’ Island Gold mine is adjacent to the Magino mine and the agreement is expected to close later in 2024. The initial 2% NSR acquired in October 2022 for US$52.5 million, along with the additional 1% NSR acquired in November 2023 for US$28.0 million, applies to the Magino mine and all of Argonaut Gold’s regional exploration properties, a total of 45 km 2 . Magino is a past producing underground gold mine. The new mine achieved commercial production in November 2023, as a conventional open pit mining and milling operation with a nameplate mill throughput capacity of 10 ktpd. As detailed in Argonaut Gold’s March 2022 Technical Report on the Magino Project, the mine is expected to have a 19-year mine life with average gold production of 142 koz per annum in the first 5 years. Argonaut anticipates 2024 production guidance at Magino to be between 120,000 and 130,000 gold equivalent ounces, reflecting a full first year of production since achieving commercial production. An updated NI 43-101 technical report is expected in H2 2024. Magino and the regional exploration claims are located adjacent to Franco-Nevada’s existing royalties in the area on Alamos Gold’s Island Lake properties and expands our exposure to this prospective region. Exploration targets include high-grade underground potential, e.g. the Elbow Zone, and prospective structures and host rock on trend of Magino located on the royalty grounds. Commercial production in November 2023 Long life mine plan and potential to expand output Extensive resource beyond existing mine plan TSX / NYSE: FNV 64 ★ Franco-Nevada Corporation Canada

I S L A N D G O L D Location: Ontario, Canada | Operator: Alamos Gold Inc. | Precious Metals: Au | Royalty: NSR: 0.62% In March 2020, Franco-Nevada acquired an existing 0.62% NSR on the Goudreau Lake claims totaling 58 hectares covering the core of the Island Gold mine in western Ontario. 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 0.8 $ 1.0 $ 1.5 M&I Resources (koz Au) 1 2,441 1,755 1,624 Inferred Resources (koz Au) 1 3,682 3,529 3,454 P&P Reserves (koz Au) 1 1,725 1,464 1,338 M&I Royalty Ounces (000s) 1,2 11 9 9 Inferred Royalty Ounces (000s) 2 10 19 19 P&P Royalty Ounces (000s) 2 9 8 8 1 Please refer to the tables on pages 118-124 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 80% of the Mineral Reserves (90% in 2022, 90% in 2021) and 75% Mineral Resources (85% in 2022, 90% in 2021) are subject to our royalty interest and estimates a rate of 0.62% is applicable The UG mine is operated by Alamos who acquired the operation in 2016. The mine utilizes longitudinal retreat longhole stoping with cement backfill and ore is processed through a conventional carbon in pulp plant. Alamos produced a total of 131,400 ounces of gold in 2023 from the mine, compared to 133,700 ounces of gold in 2022. Gold production is forecast to be between 145,000 to 160,000 ounces in 2024. In the near term, Franco-Nevada expects a significant portion of production to come from the royalty claims and it is estimated that approximately 75% of the inclusive Mineral Resources and 80% of the Mineral Reserves on the property are covered by Franco-Nevada’s royalty claims. Alamos is advancing it’s Phase III+ expansion project that will increase output to 2,400 tpd. The expansion is expected to increase average annual gold production to 287,000 ounces per year starting in 2026 upon completion of the shaft, representing an approximate 118% increase from 2023 production. The expanded mine plan has an expected mine life of 18 years, from 2022 to 2039. Island Gold is one of Canada’s highest grade gold mines. Combined Mineral Resources and Mineral Reserves (including Inferred material) are 6.1 million gold ounces (5.2 million tonnes grading 10.30 g/t of Mineral Reserves, 2.6 million tonnes grading 8.73 g/t of exclusive M&I Resources, and 7.9 million tonnes grading 14.58 g/t of Inferred) as of December 31, 2023. Alamos continued to have exploration success at the property in 2023 and early 2024 with the extension of high-grade mineralization within multiple zones across the Island Gold deposit as well as positive results on regional early-stage targets. Franco-Nevada holds additional royalties in the Island Gold mining camp. These include a 2% NSR royalty on Alamos’ Edwards property located 4 km northeast of the Island Gold mine and a 0.75% NSR royalty on the Cline Lake property immediately adjacent to Edwards. In December 2020, Alamos acquired Trillium Mining Corp. which previously held the Cline Lake property, increasing its land package by approximately 60% in the region. Both of Franco-Nevada’s additional royalties in the mining camp are along strike and on the same geologic structure as the Island Gold mine. FNV Royalties Mineral Resources UG Development Mineral Reserves Island East Island East Northern Zone Island Main Island Main Island West Island West Island Gold 0.62% NSR N metre 500 0 Oblique Longitudinal Section Shaft Quebec Ontario Island Gold High grade operation Phase III+ expansion expected to increase average annual production to 287,000 ounces starting in H1 2026 Strong exploration potential in Island Gold mining camp Franco-Nevada Corporation ★ 65 TSX / NYSE: FNV Canada

G R E E N S T O N E Location: Ontario, Canada | Operator: Equinox Gold Corp. / Orion Mine Finance | Precious Metals: Au | Royalty: NSR: 3% Franco-Nevada acquired a 3% NSR on Greenstone as part of its acquisition of a portfolio of approximately 20 royalties from Barrick in November 2013. 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ − $ – $ – M&I Resources (koz Au) 1 7,008 7,007 7,105 Inferred Resources (koz Au) 1 3,072 3,072 3,095 P&P Reserves (koz Au) 1 5,539 5,538 5,538 M&I Royalty Ounces (000s) 1,2 210 210 213 Inferred Royalty Ounces (000s) 2 92 92 93 P&P Royalty Ounces (000s) 2 166 166 166 1 Please refer to the tables on pages 118-124 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 3.0% is applicable The Greenstone project, previously called Hardrock, is being advanced by Greenstone Gold Mines L.P . (“Greenstone”), a 60/40 partnership between Equinox Gold and Orion Mine Finance, a private entity. The Greenstone mine encompasses a total Proven and Probable Mineral Reserve of 5.5 million ounces of gold (135.3 million tonnes grading 1.27 g/t) and a total Inclusive M&I Resource of 7.0 million ounces of gold (151.1 million tonnes grading 1.44 g/t) for the project. An optimized feasibility study prepared in December 2020 contemplated the construction of a 27,000 tonne per day processing facility and open pit mining operation with production over a 14-year mine life. Gold production during the first five years is expected to average 414,000 ounces per annum with an average head grade of 1.45 g/t gold. Equinox Gold reported that construction at Greenstone was on schedule with installation activities effectively completed at December 31, 2023 and commissioning underway to pour first gold in H1 2024. Open pit activities are also currently underway. On a 100% basis, Greenstone is expected to produce between approximately 175,000 and 208,000 gold ounces in 2024, and average annual production of approximately 400,000 gold ounces over the initial mine life of 14 years. Salsberg Ashmore McKelvie Lindsey Parent Errington Ontario Greenstone Mosher Shaft SP Zone Hardrock Geraldton Other Royalty Claims Other Royalty Claims FNV Royalties Mineralized zones Excluded from Royalty Greenstone 3% NSR kilometer 3 0 N 3% NSR First gold pour on track for the first half of 2024 14-year mine life 414,000 ounce per annum during the first five years TSX / NYSE: FNV 66 ★ Franco-Nevada Corporation Canada

V A L E N T I N E G O L D Location: Newfoundland, Canada | Operator: Calibre Mining Corporation | Precious Metals: Au | Royalty: NSR: 3% Franco-Nevada holds a 3% NSR on the Valentine Lake Gold Camp in central Newfoundland. 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ − $ – $ – M&I Resources (koz Au) 1 3,955 3,960 3,138 Inferred Resources (koz Au) 1 1,100 1,100 1,639 P&P Reserves (koz Au) 1 2,700 2,690 2,100 M&I Royalty Ounces (000s) 1,2 119 59 47 Inferred Royalty Ounces (000s) 2 33 17 25 P&P Royalty Ounces (000s) 2 81 40 32 1 Please refer to the tables on pages 118-124 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 3.0% is applicable (1.5% in 2022, 2.0% in 2021) In January 2024, Calibre Mining Corporation (“Calibre”) acquired Marathon Gold Corporation (“Marathon Gold”) and is now developing the Valentine Gold project. When completed, the Valentine Gold project will be the largest gold mine in Atlantic Canada. The royalty was acquired in two transactions first in February 2019, was initially a 2.0% NSR subject to a 0.5% buyback provision for $7 million. In February 2023, Marathon Gold exercised its option for a partial buy-back of the royalty, reducing Franco-Nevada’s NSR to 1.5%. In June 2023, Franco-Nevada acquired an additional 1.5% NSR. The Valentine Gold project comprises a series of mineralized deposits along a 32 km trend representing high grade open pits with average Mineral Reserve grade of 1.6 g/t. Excellent recent drilling results indicate resource expansion potential in the nearby Frank Zone. In December 2022, Marathon Gold announced the results of an updated feasibility study outlining a three-pit mine plan based on the Marathon, Leprechaun and Berry deposits. The updated study outlines a 14.3-year mine life, with an average gold production profile of 195,000 ounces of gold per year between 2025 and 2036 from the processing of high-grade mill feed, and 97,000 ounces of gold per year between 2037 and 2039 from the processing of low-grade stockpiles. M&I Resources, exclusive of reserves, contain an additional 1.27 Moz. Mine construction commenced in September 2022. As of February 2024, the Valentine Gold project was is 54% complete with production expected in H1 2025. New operator with stronger balance sheet Mine under construction with gold production expected in H1 2025 Ongoing exploration success Valentine Gold Property Teck Resources Duck Pond Mine Millertown Buchans Buchans Junction Deer Lake Corner Brook Springdale Grand Falls Badger Stephenville Buchans Millertown Duck Pond Mine Granite Canal Substation Valentine Lake Thrust Fault Marathon Deposit Leprechaun Deposit Victory Deposit Sprite Deposit Frank Zone Powerline Granite Canal Hydro Facility Berry Zone Quebec Ontario Valentine Gold Newfoundland Valentine Gold 3% NSR kilometer 20 0 N Marathon Gold Corporation N kilometer 0 75 Franco-Nevada Corporation ★ 67 TSX / NYSE: FNV Canada

G O L D E N H I G H W A Y Location: Ontario, Canada | Operator: Agnico Eagle Mines Limited | Precious Metals: Au | Royalty: NSR: 0.25-10% Franco-Nevada has multiple NSR royalties ranging from 0.25 to 10% over the Destor-Porcupine mineral trend just east of Timmins, Ontario spread over more than 120 km and estimated to cover over 340 km 2 . 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ − $ – $ 0.1 M&I Resources (koz Au) 1 2,978 2,978 2,978 Inferred Resources (koz Au) 1 1,421 1,421 1,421 P&P Reserves (koz Au) 1 – – – M&I Royalty Ounces (000s) 1,2 160 160 160 Inferred Royalty Ounces (000s) 2 90 90 90 P&P Royalty Ounces (000s) 2 – – – 1 Please refer to the tables on pages 118-124 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves. Mineral Resources and Mineral Reserves are the sum of Golden Highway - Holt Complex (which includes Holt, Holloway and Taylor), Golden Highway – Hislop and Golden Highway - Aquarius 2 For Royalty Ounce calculation, Franco-Nevada estimates 100% of the Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates rates of: Holt 10%; Holloway 3%; Taylor 1%; Hislop 4%; Aquarius 2% Kirkland Lake Gold (“KLG”) acquired St Andrew Goldfields (“St Andrew”) in January 2016, which previously owned and operated most of the properties along the trend on which Franco-Nevada has royalties. KLG amalgamated Holt, Holloway and Taylor into the Holt Complex for reporting purposes, all of which have fed the Holt mill for processing. The Holloway mine was placed on care and maintenance in March 2020. Operations at the remainder of the Holt Complex were suspended in April 2020. In August 2020, KLG and Newmont entered into a strategic alliance agreement, with Newmont acquiring an option on certain mining and mineral rights related to the Holt property. In February 2022, Agnico Eagle and KLG completed a merger of equals, with the combined company continuing as Agnico Eagle (see pages 54, 59 and 63 for additional assets operated by Agnico Eagle). Agnico Eagle plans to evaluate the potential to integrate a number of satellite deposits with the existing infrastructure in the region which may displace production from royalty ground in the short to medium term. Franco-Nevada has royalties on the following key properties in the trend: Holt: The Holt mine has been the main producing asset in recent years and includes the Holt mill complex. Franco-Nevada has a sliding scale NSR royalty beginning at 2% when the gold price is less than or equal to $500/ounce and increasing in 1% increments for each $100/ounce increase in the gold price, to a maximum of 10%. The Holt mine was built in the late 1980s by Barrick. Taylor: The Taylor mine (1% NSR) achieved commercial production in November 2015. Exploration potential at Taylor exists along strike and at depth of current Mineral Resources. Holloway: The Holloway mine is located immediately north of the Holt property with ore historically processed at the Holt mill. The Holloway mine was placed on care and maintenance at the end of 2016 due to limited economic viability. In an effort to improve the economics of the operation, in 2019, Franco-Nevada agreed to reduce the royalty at Holloway to a flat 3% NSR from the previous sliding scale royalty. The mine resumed operations in early 2019, prior to the current suspension. Hislop: Franco-Nevada has a 4% NSR on the Hislop mine which is located approximately 50 km to the west of the Holt mill. The open pit Mineral Reserves for the Hislop open pit were fully depleted in 2014. Aquarius: Franco-Nevada holds a 1-2% sliding scale NSR (2% when gold price is greater than $1,000/ounce) on the majority of claims surrounding and including the Aquarius deposit. Multiple NSR royalties in the Destor-Porcupine mineral trend Large land position offers future potential 101 Stoughton Matheson Porcupine Timmins Frederick House Lake Night Hawk Lake Kenogamisis Lake Holt Mine Jonpol Ross Mine Apollo Black Fox Ludgate Porcupine Peninsula Royal Oak Bell Creek Owl Creek Delnite Aunor Paymaster Dome McIntyre Hollinger Pamour #1 Matheson Stock Taylor Cody Macklem Bond Currie Carr Beatty Bowman Hislop Guibord 11 11 ONR Destor-Porcupine Fault Zone Pipestone Fault Cook Barnet Thackeray Harker Garrison Rand Michaud Munro McCool Frecheville Lamplugh Lake Abitibi 101 Marriot Holloway Holloway Mine Broulan Reef Hallnor Hoyle Pond Kinross 1060 Zone Kidd Creek Golden Highway 0.25-10% NSR kilometer 20 0 N Present or past producing mine Holloway Royalty 3% NSR 0.5-2.5% NSR Stoughton Royalty 1-2% NSR Aquarius Royalty 1% NSR Taylor Royalty 4% NSR Hislop Royalty Central Timmins Royalty Claims 0.25-1% NSR 1% NSR Stock Mine and Mill Royalty Holt Royalty Sliding scale Zone 7 Royalty Sliding scale German Lake Abitibi Quebec Ontario Golden Highway TSX / NYSE: FNV 68 ★ Franco-Nevada Corporation Canada

Eskay Deeps 23 22 NEX 21 East 21A West KSM (Seabridge) FNV Royalties Area of Interest Deposits Excluded from Royalty Eskay Creek 2.5% NSR kilometer 5 0 N 2.5% NSR 2.5% NSR 2.5% NSR 2.5% NSR Vancouver British Columbia Stewart Eskay Creek E S K A Y C R E E K Location: British Columbia, Canada | Operator: Skeena Resources Limited | Precious Metals: Au & Ag | Royalty: NSR: 2.5% Franco-Nevada holds a 2.5% NSR on the past-producing Eskay Creek gold-silver project in British Columbia’s Golden Triangle. 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ – $ – $ – M&I Resources (koz Au) 1 4,380 4,067 3,898 Inferred Resources (koz Au) 1 67 177 231 P&P Reserves (koz Au) 1 3,336 2,870 2,870 M&I Resources (Moz Ag) 1 107.0 98.4 101.6 Inferred Resources (Moz Ag) 1 0.9 2.7 5.0 P&P Reserves (Moz Ag) 1 88.0 75.5 80.2 M&I Royalty Ounces (000s) 1,2 140 78 52 Inferred Royalty Ounces (000s) 2 2 3 3 P&P Royalty Ounces (000s) 2 109 56 39 1 Please refer to the tables on pages 118-124 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 2.5% is applicable (1.5% in 2022, 1.0% in 2021) Eskay Creek was the highest-grade gold mine in the world when in production with the operator, Barrick Gold Corp., producing 3.3 million ounces of gold and 160 million ounces of silver at average grades of 45 g/t gold and 2,224 g/t silver from 1994-2008. In November 2023, the current owner of the property, Skeena Resources Limited (“Skeena”), announced a positive definitive feasibility study, outlining average annual production of 324,000 ounces of gold equivalent production over an initial 12-year mine life. The definitive feasibility study was based on Proven and Probable Mineral Reserves of 4.6 Moz AuEq (39.8 Mt at 2.6 g/t Au and 69 g/t Ag). The study indicated a high-grade open-pit and a flotation plant producing higher grade saleable concentrate. Skeena is continuing to advance the project through permitting and is undertaking early development work. In December 2021, Franco-Nevada entered into an agreement with Skeena to amend the terms of its existing 1% NSR royalty agreement such that the existing royalty covered substantially all of the Eskay Creek gold-silver project land package at the time, including all currently-known mineralized zones. In December 2022, Franco-Nevada acquired an additional 0.5% NSR on Eskay Creek and in December 2023, acquired a further 1.0% NSR, bringing the total NSR held by Franco-Nevada to 2.5%. Also in December 2023, Franco-Nevada acquired C$25M in convertible debentures maturing the earlier of December 19, 2028 or on the completion of a Board approved project financing at Eskay Creek. The December 2023 transaction also increased the property size to cover the prospective properties adjacent the mineral resource. Skeena Resources completed 13 drillholes in 2023 with success surrounding the 22 Zone yielding new occurrences of footwall gold-silver mineralization highlighted by SK-23-1203, which intersected 19.87 g/t Au, 59.1 g/t Ag over 2.95 m and a second high grade interval averaging 21.10 g/t Au, 15.4 g/t Ag over 1.50 metres. Additional mineralization was identified 200 metres north of the 22 Zone by SK-23-1200 grading 0.63 g/t Au, 86.1 g/t Ag over 14.50 metres and 1.37 g/t Au, 7.6 g/t Ag over 5.00 metres. In 2023 Skeena Resources followed up on the Eskay Deeps 2022 exploration hole SK-22-1081 (3.79 g/t Au, 59.4 g/t Ag over 32.19 m). In total, 8 drillholes and 2 wedge branches were completed totalling 13,787 m intersecting anomalous sub-economic mineralization in the Contact Mudstone on 100 m spaced centers. 120 m below the Contact Mudstone and hosted by footwall rhyolite breccias, 2023 drillhole SK-23-1182 intersected 3.92 g/t Au, 5.2 g/t Ag over 5.38 m. Permitting and early development work on going Positive definitive feasibility study increases mine life to 12 year with average of 324 koz AuEq Franco-Nevada Corporation ★ 69 TSX / NYSE: FNV Canada

C O U R A G E O U S L A K E Location: Northwest Territories, Canada | Operator: Seabridge Gold Inc. | Precious Metals: Au | Royalty: NSR: 1.02% The Courageous Lake project is an advanced gold exploration project located in the Northwest Territories, Canada. Seabridge Gold Inc. (“Seabridge”) has been advancing the Courageous Lake project and, in January 2024, released results of its updated preliminary feasibility study for the asset, confirming a significantly improved and smaller project over the previous study completed in 2012. The study estimated Mineral Reserves of 2.8 million ounces of gold (33.9 million tonnes grading 2.61 g/t at the FAT deposit) and projected average annual production of 201,000 ounces over a mine life of 12.6 years. The study contemplates an open pit mine. Processing includes pressure oxidizing and cyanide leaching of floatation concentrate to produce gold doré. This project covers only 2 km of a greenstone belt that stretches 53 km and based on the size of the reserve, the FAT deposit is one of Canada’s largest undeveloped gold deposits. The property also hosts the Walsh Lake deposit (Inferred Mineral Resource of 4.1 million tonnes grading 4.18 g/t), which is located 10 km south of the larger FAT deposit. Earlier metallurgical testing demonstrated that the Walsh Lake material is free milling. Based on these factors, the Walsh Lake deposit could be mined prior to constructing the processing plant required for the larger, refractory FAT deposit thereby improving the overall economics of the Courageous Lake project. Seabridge also published a 2024 preliminary economic assessment, demonstrating the potential to extend the asset`s mine life by an additional 15.9 years at 205,000 ounces of gold per year based on exploring resources in addition to the current reserve. For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates an average rate of 1.02% is applicable G O L D F I E L D S Location: Saskatchewan, Canada | Operator: Fortune Bay Corp. | Precious Metals: Au | Royalty: NSR: 2% The Goldfields project consists of two gold deposits, the Box and Athona deposits, located approximately 13 km south of Uranium City in northern Saskatchewan. Franco-Nevada has a 2% NSR royalty that covers both deposits. Brigus Gold Corp., which was advancing the project, was acquired by Primero Mining Corp. in 2014. The Goldfields project was not part of the acquisition and was spun out into Fortune Bay Corp. (“Fortune Bay”). In November 2022, Fortune Bay released the results of a new preliminary economic assessment for the Box and Athona deposits which outlines an 8.3-year life-of-mine, producing 835,000 ounces of gold. Average annual gold production is expected to be 101,000 ounces over the mine life, with an average of 122,000 ounces per year in the first four years. A new Mineral Resource update accompanied the preliminary economic assessment, outlining an Indicated Mineral Resource of 979,900 ounces of gold (23.2 million tonnes grading 1.31 g/t) and an Inferred Mineral Resource of 210,800 ounces of gold (7.1 million tonnes grading 0.92 g/t). The mineralization at both the Box and Athona deposits remains open at depth. In January 2024, the company announced that a prefeasibility study is underway. For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates a rate of 2.0% is applicable R E D L A K E ( M c F I N L E Y ) Location: Ontario, Canada | Operator: Evolution Mining Limited | Precious Metals: Au | Royalty: NSR: 2% Franco-Nevada has a 2% NSR (subject to a buy-back of 0.5%) on the water claims, which cover the majority of Mineral Reserves, of the McFinley orebody in Red Lake, Ontario. Evolution Mining Limited (“Evolution Mining”) acquired Battle North Gold Corporation (previously Rubicon Minerals Corp), taking ownership of the Bateman gold project (previously known as the Phoenix project) in 2021. Under Evolution Mining, Bateman is being reported under Red Lake for public reporting purposes (Franco-Nevada does not have a royalty on Evolution Mining’s other Red Lake properties) and is being referred to as the McFinley project in the December 31, 2023 annual Mineral Resources and Ore Reserves statement. Rubicon developed the Phoenix project with completion of an 1,800 tpd mill in 2015. Later that same year Rubicon shutdown underground activities to review its geologic model as the gold mineralization was more geologically complex than anticipated and the contained gold ounces estimated were materially reduced. In October 2020, Battle North announced feasibility study results for the Bateman gold project. The base case study outlined life of mine payable gold production of 602,987 ounces, averaging 73,835 ounces per year for 8.2 years from initial production. Of the 8.2 years, seven years were classified as commercial production, which Battle North defined as an average of 70% of the 1,250 tpd permitted capacity, over 90 consecutive days. The project contemplated an 1,800 tpd mill with excess capacity for potential incremental tonnes from the F2, McFinley and Pen Zones (contemplating 2,500 tpd for the expanded mill). The consolidated Red Lake operation, under the ownership of Evolution Mining, consists of the Red Lake, Campbell, Cochenour, HG Young and McFinley mining areas. Evolution continues to work on an updated McFinley model, which has been defined over a 1,350m strike length, 1,750 vertical extent and 800m across strike. In the short to medium term, ore from the deposits not covered by Franco-Nevada’s royalty are likely to be higher priority for processing through the Campbell, Red Lake and Bateman mills than the McFinley area. 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 1.5% is applicable in anticipation that Evolution Mining exercises its right to repurchase 0.5% of the 2.0% NSR TSX / NYSE: FNV 70 ★ Franco-Nevada Corporation Canada

M O N U M E N T B A Y Location: Manitoba, Canada | Operator: Agnico Eagle Mines Limited | Precious Metals: Au | Royalty: NSR: 2-3% In January 2023, Agnico Eagle acquired the Monument Bay project as part the acquisition of Yamana’s Canadian assets. The Monument Bay project, is located in Manitoba, approximately 570 km northeast of Winnipeg adjacent to the Ontario border. Monument Bay consists of 136 contiguous claims and hosts a Measured and Indicated Mineral Resource base of 1.79 million ounces of gold in 36.6 million tonnes grading 1.52 g/t. Franco-Nevada holds a 2% NSR royalty on the first 1.0 million ounces produced and a 3% NSR on any additional production. Yamana acquired the project from Mega Precious Metals Inc. in 2015 and in September 2018, Yamana signed an Exploration Agreement with Red Sucker Lake First Nations in relation to the Monument Bay exploration site. In both 2020 and 2021, Yamana focused on exploring these high-grade extensions and on targets surrounding the Twin Lakes shear zone, an area believed to host considerable opportunity for resource expansion. The Twin Lakes deposit was originally considered as an open pit operation but has since been re-evaluated as an underground project, with internal studies indicating the presence of steeply plunging higher-grade shoots within the open pit Mineral Resource. Deep drilling also provided an initial test of the depth extent and potential of several high-grade shoots which are along the 4 km strike length of the deposit. For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates an average rate of 2.0% is applicable for the first 1.0 million ounces produced and 3.0% on any additional ounces C A R I B O O Location: British Columbia, Canada | Operator: Osisko Development Corp. | Precious Metals: Au | Royalty: NSR: 3% Osisko Development Corp. (“Osisko Development”) is advancing the Cariboo Gold project in east-central British Columbia. The property consists of 2,120 km 2 of mineral rights located 85 km east of the town of Quesnel. From 1933 to 1967, 4.5 million ounces of gold were mined in the area from both historical underground and alluvial production. Osisko Development started mining the Bonanza Ledge II project, located within the Cariboo Gold project, in Q1 2021. The Bonanza Ledge II Mineral Resource includes the BC Vein, Bonanza Ledge, and KL Zone deposits. Franco-Nevada’s 3% NSR covers the claims to the immediate northeast of Bonanza Ledge, referred to as the KL Zone. Franco-Nevada’s 3% royalty interest also includes the Williams Claims which are about 5 km southeast of Bonanza Ledge. The Bonanza Ledge II project was placed on care and maintenance in June 2022 to focus on the completion of the Cariboo Gold project feasibility study, which was released in January 2023. The feasibility study, which does not envision production from the KL Zone, outlines a two-phase ramp up, with first production in 2025. Phase 1 is 1,500 tpd at approximately 73,000 ounces per year for the first three years and Phase 2 is 4,900 tpd with underground development and production to increase to approximately 194,000 ounces per year starting in 2028. The broader project has an initial 12-year mine life and there is potential to convert additional Inferred Resources located adjacent to reserve blocks, with mineralization open at depth and along strike. Franco-Nevada has not included Cariboo in Royalty Ounce estimates R E D M O U N T A I N Location: British Columbia, Canada | Operator: Ascot Resources Ltd. | Precious Metals: Au | Royalty: NSR: 1% / Production Payment Franco-Nevada has a 1% NSR as well as a $10/oz production payment on gold produced in excess of 1.85 million ounces from the Red Mountain project near Stewart, B.C. Franco-Nevada acquired the royalty as part of the Barrick royalty portfolio in November 2013. In March 2019, Ascot Resources Ltd. (“Ascot”) acquired IDM Mining and its 100%-owned Red Mountain project and a revised feasibility study was released in April 2020. The study envisioned the feed from four deposits (Big Missouri, Silver Coin, Premier and Red Mountain) being processed at the Premier mill, which is approximately 23 km southeast of the Red Mountain deposit. The Premier mill required refurbishment and expansion as it had been on care and maintenance for over 20 years. The updated feasibility study contemplated Red Mountain ore commencing processing in the second year of operation continuing for approximately seven years and contributing roughly half the ore feed for the mill, or approximately 70,000 ounces per annum in year three to seven. Since the 2020 feasibility study, Ascot has updated the sequence of mining, deferring Red Mountain development until later in the overall mine life of the project. Commercial production of the combined operation is expected in mid-2024. The Red Mountain project received federal Environmental Assessment approval in January 2019 and, in April 2019, signed a Benefits Agreement with the Nisga’a Nation. In July 2021, Ascot signed an updated Benefits Agreement for both the Premier Gold and Red Mountain project. As of January 2024, construction of the overall project is at approximately 90%. For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates an average rate of 1.0% is applicable Franco-Nevada Corporation ★ 71 TSX / NYSE: FNV Canada

Rest of World Producing Advanced Duketon Yandal (Bronzewing/Julius) South Kalgoorlie (Mt Martin-Loc. 45) Australia Subika (Ahafo) Tasiast Sabodala Edikan MWS Perama Hill Kiziltepe Karma Sissingué Pandora Séguéla Aphrodite Matilda (Wiluna) South Kalgoorlie (New Celebration) TSX / NYSE: FNV 72 ★ Franco-Nevada Corporation Rest of World

S É G U É L A Location: Côte d’Ivoire | Operator: Fortuna Silver Mines Inc. | Precious Metals: Au | Royalty: NSR: 1.2% Franco-Nevada holds a 0.6% NSR on the Séguéla gold mine, owned and operated by Fortuna Silver Mines Inc. (“Fortuna”). 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 1.4 $ − $ − M&I Resources (koz Au) 1 1,535 1,611 1,328 Inferred Resources (koz Au) 1 245 960 104 P&P Reserves (koz Au) 1 1,154 1,088 1,088 M&I Royalty Ounces (000s) 1,2 9 19 16 Inferred Royalty Ounces (000s) 2 2 12 1 P&P Royalty Ounces (000s) 2 7 13 13 1 Please refer to the tables on pages 118-124 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 0.6% is applicable (1.2% NSR in 2022, 1.2% NSR in 2021) In March 2021, Franco-Nevada acquired a 1.2% NSR from Roxgold Inc. (“Roxgold”) on the license covering its Séguéla open-pit gold project located in Côte d’Ivoire. The royalty was subject to a buy-back of up to 50% and in March 2024, Fortuna elected to execute this buy-back for the full 50%. In May 2021, Roxgold released the results of a feasibility study that outlined a 9-year open-pit mine producing an average of 120,000 ounces of gold per year. In July 2021, Fortuna acquired Roxgold Inc. In September 2021, Fortuna announced a positive construction decision for Séguéla, and first gold was poured in May 2023. Fortuna reported that Séguéla contributed over 78,600 gold ounces in 2023, exceeding the upper range of its 2023 production guidance. Fortuna also indicated that it had upgraded 206,000 ounces of gold related to the Sunbird deposit from Indicated Mineral Resources to Probable Reserves. Feasibility and optimization work is underway to incorporate underground mineable resources at the Sunbird, Ancien, and Koula deposits. The 2024 mine plan considers mining in the Antenna, Ancien, and Koula pits, with plans to process 1.46 million tonnes of ore averaging 3.0 g/t Au, and capital investments estimated at $39.8 million, including $32 million for sustaining capital expenditures and $7.8 million for Brownfields exploration programs. Seguela is projected to produce between 126 koz to 138 koz of gold in 2024. Process plant de-bottlenecking initiatives in 2024 still present upside opportunities for throughput capacity. In 2023, exploration focused on the Sunbird deposit and the Badior prospect. In March 2024, Fortuna announced the discovery of the Kingfisher prospect at the Séguéla mine, covered by Franco-Nevada’s royalty, with further work planned for the remainder of 2024. Séguéla 1.2% NSR kilometer 5 0 N Vincho UG Raul UG Ancien Agouti Boulder Winy Gabbro W Antenna South Antenna North Antenna West P1 Kwenko Siakasso N P7 P2 Kwenko W Koula Antenna Sunbird Schist Resource Pit Target Target Strat Séguéla NSR Area Pelite First gold pour in 2023 Exploration upside on land package covered by royalty Franco-Nevada Corporation ★ 73 TSX / NYSE: FNV Rest of World

M W S Location: South Africa | Operator: Harmony Gold Mining Company Limited | Precious Metals: Au | Stream: 25% Gold Stream Franco-Nevada, through its acquisition of Gold Wheaton in March 2011, receives 25% of gold produced from the Mine Waste Solutions (“MWS”) project. 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 50.4 $ 39.2 $ 41.3 M&I Resources (koz Au) 1 1,789 1,849 1,946 Inferred Resources (koz Au) 1 − – – P&P Reserves (koz Au) 1 1,431 1,485 1,749 M&I Royalty Ounces (000s) 1,2 19 38 54 Inferred Royalty Ounces (000s) 2 – – – P&P Royalty Ounces (000s) 2 18 38 54 1 Please refer to the tables on pages 118-124 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 23,999 stream ounces (49,923 stream ounces in 2022, 71,749 stream ounces in 2021) to be delivered and factored by 77% (75% in 2022, 75% in 2021) to estimate equivalent Royalty Ounces MWS is a gold and uranium tailings recovery operation located near Stilfontein, approximately 160 km west of Johannesburg, South Africa. The operation processes multiple tailings dumps in the area. It also includes a modern tailings storage facility approximately 15 km from the gold plant. Franco-Nevada makes ongoing payments equal to the lesser of $400/ounce of payable gold (subject to a 1% annual inflation that commenced December 2012) and the spot price for gold. The current ongoing price is equal to $450.72 per ounce of gold as of December 2023. In September 2020, Harmony Gold Mining Company Limited (“Harmony”) acquired MWS from AngloGold Ashanti Limited (“AngloGold Ashanti”). AngloGold Ashanti had purchased the operation from First Uranium Corporation in July 2012. As part of the AngloGold Ashanti purchase, Franco-Nevada amended the agreement and is entitled to receive 25% of all the gold produced through the MWS plant, until Franco-Nevada has received 312,500 ounces of gold. In 2023, Franco-Nevada sold 25,925 ounces of gold that had been received under the agreement, compared with 21,825 ounces of gold sold in 2022. As at December 31, 2023, Franco-Nevada has received 288,501 ounces of gold of the 312,500 ounce cap since the amendment of the agreement. The cap is currently expected to be reached in late 2024. Franco-Nevada is entitled to 25% of all gold produced Stream capped when 312,500 ounces are received MWS, South Africa kilometer 0 2.5 N MSW Gold Stream AngloGold Ashanti Dumps Atlantic Ocean Indian Ocean South Africa Botswana Namibia Zimbabwe Mozambique MWS MWS 5 MWS 4 H1 H2 H5 B5 B2 B1 B3 B4 H6 Tailings storage facility site N 12 Plant Site MWS Hartebeestfontein Buffelsfontein Vaal West SPD Vaal East STILFONTEIN Town TSX / NYSE: FNV 74 ★ Franco-Nevada Corporation Rest of World

S A B O D A L A Location: Senegal | Operator: Endeavour Mining Corporation | Precious Metals: Au | Stream: Fixed gold deliveries / 6% Gold Stream In December 2013, Franco-Nevada (Barbados) Corporation, provided Teranga Gold Corporation (“Teranga”) with a $135 million deposit to fund the acquisition by Teranga of additional future ore sources for its Sabodala mill. 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 18.3 $ 16.8 $ 16.7 M&I Resources (koz Au) 1 6,333 6,333 6,640 Inferred Resources (koz Au) 1 1,380 1,380 1,728 P&P Reserves (koz Au) 1 4,086 4,086 4,796 M&I Royalty Ounces (000s) 1,2 111 120 112 Inferred Royalty Ounces (000s) 2 31 32 35 P&P Royalty Ounces (000s) 2 60 67 75 1 Please refer to the tables on pages 118-124 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 In 2023, Franco-Nevada estimates that 47% (49% in 2022, 42% in 2021) of the remaining Mineral Resources and Mineral Reserves at the Sabodala-Massawa Complex are subject to a rate of 4.8% (6.0% gold stream which is factored by 80% to estimate equivalent Royalty Ounce rate) With the acquisition, Teranga was able to expand its land package to over 950 km 2 including much of a 70 km prospective greenstone belt. In February 2021, Endeavour Mining Corporation (“Endeavour”) acquired Teranga. Over the first six years, Teranga delivered 22,500 ounces of gold annually to Franco-Nevada, under a fixed arrangement, for a total of 135,000 ounces of gold delivered. The fixed delivery period was fulfilled in December 2019, and between January 2020 and August 2020, Franco-Nevada received 6% of the gold produced from either the Sabodala or Oromin Joint Venture (“OJVG”) properties. In December 2019, Teranga announced an agreement to acquire the adjacent Massawa gold project and commenced processing ore from the project in 2020. Franco-Nevada’s stream does not extend to the Massawa gold project area. In September 2020, Franco-Nevada amended its existing Sabodala gold purchase and sale agreement with Teranga to compensate for displacement from the processing of Massawa ore through the Sabodala processing facilities and to provide for the commingling of Sabodala and Massawa ores. The amended agreement provides that effective September 1, 2020, Teranga, now Endeavour, will make fixed deliveries of 783.33 ounces of refined gold per month until 105,750 ounces of gold have been delivered to Franco-Nevada (the “Fixed Delivery Period”) and 6% of production from the stream area thereafter. Following the Fixed Delivery Period, which is expected to end in October 2031, a reconciliation will be performed to determine if Franco-Nevada would have received more or less than 105,750 ounces of gold under the 6% variable stream during such period. Endeavour will be entitled to a credit for an over-delivery which will be applied against the 6% variable stream until depleted and Franco-Nevada will be entitled to a one-time additional delivery in the case of an under-delivery. Franco-Nevada will make ongoing payments for each ounce of gold delivered equal to 20% of the spot gold price. In 2023, Sabodala-Massawa produced 294 koz of gold, with the majority produced from Massawa. Endeavour’s 2024 production guidance for Sabodala-Massawa is between 360 koz and 400 koz of gold. To date production from Sabodala has been less than the fixed ounces delivered to Franco-Nevada. Fixed gold deliveries per year until 2031, and thereafter 6% of gold production from Sabodala concessions Land package offers significant exploration potential kilometer 2.5 0 N Sabodala Gold Stream OJVG Concession Sabodala Concession Deposits Senegal Mali Mauritania Sabodala Dakar Guinea Atlantic Ocean 10 kilometres from mill Mill OJVG Sabodala Sabodala West Golouma Deposits Masato Deposit Niakafiri Deposit Sabodala Pit Tailings Gora Deposit Franco-Nevada Corporation ★ 75 TSX / NYSE: FNV Rest of World

T A S I A S T Location: Mauritania | Operator: Kinross Gold Corporation | Precious Metals: Au | Royalty: NSR: 2% Franco-Nevada has a 2% NSR royalty on the Tasiast project operated by Kinross. 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 24.5 $ 18.3 $ 6.7 M&I Resources (koz Au) 1 6,985 7,239 8,992 Inferred Resources (koz Au) 1 1,504 1,443 971 P&P Reserves (koz Au) 1 5,055 5,737 6,404 M&I Royalty Ounces (000s) 1,2 140 145 180 Inferred Royalty Ounces (000s) 2 30 29 19 P&P Royalty Ounces (000s) 2 101 115 128 1 Please refer to the tables on pages 118-124 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 2.0% is applicable Kinross acquired control of Tasiast in September 2010 through to its acquisition of Red Back Mining Inc. The royalty originally covered three large permit areas in Mauritania, West Africa including the Tasiast main trend and Tasiast Sud. The most prominent permit area is Tasiast, with a currently reported mining license area of 312 km 2 and a total exploration license area of 3,118 km 2. In 2023, Tasiast produced 620,793 ounces of gold compared with 538,591 ounces in 2022. Kinross has been implementing a phased expansion of Tasiast. The Phase One expansion was completed during the third quarter of 2018. Phase One increased mill throughput from 8,000 tpd to 12,000 tpd. Kinross subsequently undertook the Tasiast 24k project, increasing throughput to 21,000 tpd by year-end 2021 and 24,000 tpd by mid- 2023. Kinross reported record annual production at Tasiast in 2023 following the completion of the Tasiast 24k project. The Tasiast 24k is projected to extend the mine life to 2035 including the processing of low-grade stockpiles on the back end of the mine life. Kinross expects 2024 production from Tasiast to be approximately 610,000 ounces of gold with approximately 430,000 ounces per annum over the next several years. Kinross continues to study the underground potential of the mine. Exploration drilling resumed in Q4 2023 targeting soil anomalies in the north satellite area on the TMLSA license. A follow-up drilling program is planned in 2024. Reverse circulation drilling of priority targets on the SENISA licenses also began in Q4 2023 and is expected to continue throughout 2024. Drilling around the existing operations for deep extensions at West Branch, Piment and Prolongation that could support underground mining will be a focus in 2024. Tasiast, Mauritania Strong production in 2024 Expansion completed in 2023, reaching 24,000 tpd Prospective 75 km long greenstone belt Tasiast Mauritania Mali Senegal Algeria Atlantic Ocean N kilometer 10 0 Tasiast NSR: 2% Tasiast Main Trend Plant Site Tasiast Sud 2% NSR Tasiast Mining License Tasiast License Area, March 2012 Tasiast Sud Gold Prospects Resource/Reserve Target Trends FNV Royalties TSX / NYSE: FNV 76 ★ Franco-Nevada Corporation Rest of World

S U B I K A ( A H A F O ) Location: Ghana | Operator: Newmont Corporation | Precious Metals: Au | Royalty: NSR: 2% Franco-Nevada has a 2% NSR royalty which covers a 78 km 2 area on the southern portion of Newmont’s Ahafo South mine in Ghana (shown in the schematic). Ahafo South is a separate mine from Newmont’s Ahafo North mine which is located 30 km to the north. 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 19.4 $ 18.0 $ 11.6 M&I Resources (koz Au) 1 8,600 9,160 9,350 Inferred Resources (koz Au) 1 1,600 1,640 1,730 P&P Reserves (koz Au) 1 5,100 5,650 6,100 M&I Royalty Ounces (000s) 1,2 66 78 80 Inferred Royalty Ounces (000s) 2 12 14 15 P&P Royalty Ounces (000s) 2 63 76 82 1 Please refer to the tables on pages 118-124 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 62% of Mineral Reserves (68% in 2022, 68% in 2021), 38% of the M&I Mineral Resources (43% in 2022, 43% in 2021) and 38% of the Inferred Resources (43% in 2022, 43% in 2021) are subject to our royalty interest and estimates an average rate of 2.0% is applicable The 2% NSR is payable on all ounces produced from the Rank (formerly Ntotoroso) concession. The majority of the Subika deposit, the northern portion of the Awonsu deposit, and the southern tip of the Amoma deposit fall within the Rank mining lease boundary. In 2023, Ahafo South produced 581,000 ounces of gold compared with 574,000 ounces in 2022 and it is estimated that 62% of project reserves as of December 31, 2023 fall on Franco-Nevada’s royalty ground. Ahafo production is expected to increase in 2024 to 725,000 ounces of gold, due to higher open pit grades and strong underground mining rates at Subika which is on royalty ground. The mine remains on track to reach full processing rates by the end of the second quarter of 2024 after the planned delivery of a replacement girth gear. Franco- Nevada expects a larger proportion of production to be sourced from ground covered by our royalty in 2024. In 2022, Newmont highlighted significant underground potential at Subika (on royalty ground) and the Apensu pit (not on royalty ground). Large production growth in 2024 Estimate 62% of Ahafo South reserves fall on royalty ground Larger share of future production expected on royalty ground Subika, Ghana Subika (Ahafo) NSR: 2% N Note: not to scale Mina Justa Atlantic Ocean Burkina Faso Cote D’ivoire Togo Benin Nigeria Niger Mali Algeria Subika Ghana 2% NSR Awonsu Apensu Subika Plant and Offices Ntotoroso Amoma Kenyase FNV Royalties Deposits Franco-Nevada Corporation ★ 77 TSX / NYSE: FNV Rest of World

K A R M A Location: Burkina Faso | Operator: Néré Mining SA | Precious Metals: Au | Stream: 4.875% Gold Stream In August 2014, Franco-Nevada (Barbados) and Sandstorm Gold Ltd. (“Sandstorm”) committed to provide up to $120 million in stream funding to assist the construction of the Karma Project in Burkina Faso, West Africa, in a syndicated stream transaction. 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ − $ 3.3 $ 9.9 M&I Resources (koz Au) 1 1,898 1,898 1,898 Inferred Resources (koz Au) 1 679 679 679 P&P Reserves (koz Au) 1 158 158 158 M&I Royalty Ounces (000s) 1,2 74 74 74 Inferred Royalty Ounces (000s) 2 26 26 26 P&P Royalty Ounces (000s) 2 6 6 6 1 Please refer to the tables on pages 118-124 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 100% of the Mineral Resources and Mineral Reserves at Karma are subject to a rate of 3.9% (6.5% gold stream which is factored by 80% to equate to a Royalty Ounce as well as Franco- Nevada’s 75% interest) Franco-Nevada committed 75% of the funding and Sandstorm committed the remaining 25%. Franco-Nevada ultimately contributed $78.75 million ($75 million with $3.75 million as part of an increase option). The Karma Project was constructed by True Gold Mining Inc. which was acquired by Endeavour in March 2016. In March 2022, Endeavour announced the sale of its 90% interest in Karma to Néré Mining SA (“Néré”). Under the stream agreement, Endeavour delivered to Franco-Nevada 15,000 ounces of gold per year, beginning in March 2016 through to the end of February 2021, for a total of 75,000 ounces of gold delivered. The increase option was repaid in 8 quarterly deliveries totaling 5,625 ounces of gold by Q1 2019. Sandstorm receives deliveries for its 25% interest directly. After February 2021, Endeavour and, now Néré, shall deliver to Franco-Nevada an amount of gold equal to 4.875% of the gold produced at Karma over the life of the mine in exchange for ongoing payments equal to 20% of the spot price of gold. The Karma Project produced between 2016 and 2022. Operations at Karma have been suspended following security incidents at the mine in June and August 2022. As a result, Franco-Nevada sold no GEOs from the mine in 2023, compared with 1,759 GEOs in 2022 and 5,556 GEOs in 2021. The stream agreement covers all of the concessions within the 856 km 2 Karma Project and also includes a defined area of interest of 5 km surrounding the borders of the project. Prospective land package of 856 km 2 Trailing 4.875% gold stream in place Karma Gold Stream N kilometer 10 0 Karma Project Area Current Exploitation Area Area of Interest 5 km North Kao Gold Zone Kao Pit Nami Pit Rambo Pit Goulagou I Pit Goulagou II Pit Bonguirga Tougou Bogoya Youba Rounga Kao Nord Kao Sud Ouahigouya Nami Pit Kao Pit Namissiguima Ouest Atlantic Ocean Burkina Faso Cote D’ivoire Togo Benin Nigeria Niger Mali Algeria Karma Ghana TSX / NYSE: FNV 78 ★ Franco-Nevada Corporation Rest of World

D U K E T O N Location: Australia | Operator: Regis Resources Ltd. | Precious Metals: Au | Royalty: NSR: 2% Franco-Nevada has a 2% NSR royalty that covers 2,678 km 2 of the Duketon gold project in Western Australia. 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 12.0 $ 10.7 $ 11.1 M&I Resources (koz Au) 1 1,850 4,120 3,950 Inferred Resources (koz Au) 1 610 1,030 610 P&P Reserves (koz Au) 1 950 1,400 1,990 M&I Royalty Ounces (000s) 1,2 31 71 72 Inferred Royalty Ounces (000s) 2 11 16 11 P&P Royalty Ounces (000s) 2 17 25 37 1 Please refer to the tables on pages 118-124 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 88% (88% in 2022, 93% in 2021) of Mineral Reserves and 84% of the Mineral Resources (86% in 2022, 91% in 2021) are subject to our royalty interest and estimates a rate of 2.0% is applicable The project is operated by Regis Resources Ltd. (“Regis”) and includes eight operating mines and multiple satellite deposits at various stages of development. The royalty covers all known Mineral Resources and Mineral Reserves, except for the Gloster, Ben Hur and Anchor satellite deposits and portions of the Erlistoun, Dogbolter and Petra satellite deposits. Regis reported production of 313,956 ounces of gold for 2023 and provided production guidance of 280,000 to 305,000 ounces of gold for the fiscal year ending June 30, 2024. During 2023, approximately 96% of total Duketon production was subject to Franco-Nevada’s royalty and a similar portion is expected in 2024. Duketon South Operations (“DSO”): Regis reported DSO production of 251,273 ounces of gold for calendar year 2023. All of DSO production was subject to Franco-Nevada’s royalty in 2023. DSO has five operating mines, with open pit mines at Garden Well, Ben Hur and Russell’s Find, along with underground mines at Rosemont and Garden Well. Franco- Nevada’s royalty covers all of DSO’s Mineral Resources and Mineral Reserves, except for Ben Hur and a small portion of Erlistoun. DSO production began in 2012 at Garden Well which has a 5 Mt per annum plant. Rosemont has a 2.5 Mt per annum plant and milled ore from Rosemont is piped 10 km in a slurry form for leaching at Garden Well. Ore from other satellite deposits is hauled to Garden Well for processing. Garden Well South Underground achieved commercial production in 2023. Garden Well Main Underground exploration decline completed in 2023. Duketon North Operations (“DNO”): Regis reported DNO production of 62,683 ounces of gold for calendar year 2023. DNO had three operating mines in 2023 – Moolart Well, Gloster and Dogbolter. Moolart Well is covered by Franco-Nevada’s royalty, Gloster is outside the royalty area, and Dogbolter is partly within the royalty area. The 2.5Mtpa mill at Moolart Well has been in production since 2010. Approximately 80% of DNO production was subject to Franco-Nevada’s royalty in 2023. All open pit mining at DNO will cease at June 2024. Exploration: Focus is underground reserve and resource development. Garden Well Main exploration decline completed.and exploration drilling commenced. Rosemont Underground drilling continued to infill and extend higher grade lodes. Commercial production at Garden Well underground Garden Well Main exploration decline complete Focus on underground reserve development Open pit mining at Duketon North scheduled to end at June 2024 * Additional royalty lands to south not shown due to scale. Baneygo Erlistoun King John Garden Well Dogbolter Gloster Moolart Well Petra Rosemont Reichelts Find Russells Find Tooheys Well 2% NSR 2% NSR Perth Port Hedland Kalgoorlie Norseman Kambalda N Duketon BRAZIL BOLIVIA PARAGUAY Current Royalty Tenements Original Royalty Tenements Deposits Excluded from Royalty N kilometer 30 0 Duketon 2% NSR Franco-Nevada Corporation ★ 79 TSX / NYSE: FNV Rest of World

E D I K A N Location: Ghana | Operator: Perseus Mining Limited | Precious Metals: Au | Royalty: NSR: 1.5% In 2011, Franco-Nevada acquired an effective 1.5% NSR royalty on Perseus Mining Limited’s (“Perseus”) Edikan gold mine within the Ashanti Gold Belt in Ghana, which includes two mining leases of approximately 93 km 2 . 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 6.1 $ 4.4 $ 3.9 M&I Resources (koz Au) 1 1,634 1,885 2,326 Inferred Resources (koz Au) 1 283 283 300 P&P Reserves (koz Au) 1 771 1,344 1,318 M&I Royalty Ounces (000s) 1,2 25 28 35 Inferred Royalty Ounces (000s) 2 4 4 5 P&P Royalty Ounces (000s) 2 12 20 20 1 Please refer to the tables on pages 118-124 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 1.5% is applicable Edikan is a large-scale, low-grade multi open pit operation that began commercial production in 2012, with ore processed through a centralized processing facility. In 2015, a Supplementary Environmental Impact Statement for mining the Fetish, Chirawewa, Bokitsi (collectively referred to as the “Eastern Pits”) and Esuajah North deposits was approved. After a mill upgrade and housing relocation project was completed at the end of 2016, the Esuajah South deposit was included in Edikan’s production profile and an updated life of mine plan was prepared. Gold production was forecast to average 212,000 ounces per annum over Edikan’s estimated mine life of 6.2 years from July 1, 2020 forward, including gold production of approximately 231,000 ounces per annum on average over the first four years. 2023 production at Edikan was 202,599 ounces of gold compared with 173,235 ounces of gold in 2022. In February 2024, Perseus announced that production in Perseus’ 2023 financial year (July 1, 2023 – June 30, 2024), is expected to be between 191,000 to 201,000 gold ounces. Exploration opportunities are expected to further extend the current mine life at Edikan with the operator focusing on new exploration targets within trucking distance. In July 2022, Perseus completed a feasibility study on development of the Nkosuo prospect which is approximately 7 km from the Edikan mill (not covered by Franco-Nevada’s royalty). Planned trucking of ore and processing of the Nkosuo ore at the Edikan mill is expected to increase the project mine life, allowing for future near-mine discoveries which could potentially fall on royalty ground. Stable production Exploration potential to further extend current mine life Edikan, Ghana Exploration License Mining License and Royalty Area Deposit Accra Edikan Ghana N kilometer 10 0 Edikan 1.5% NSR Ayanfuri Mine Licenses Mill Site Esuajah South Esuajah North Fetish Chirawewa Ataasi Mampon Abnabna Fobinso Dadieso 1.5% NSR TSX / NYSE: FNV 80 ★ Franco-Nevada Corporation Rest of World

Y A N D A L ( B R O N Z E W I N G ) Location: Australia | Operator: Northern Star Resources Limited. | Precious Metals: Au | Royalty: NSR: 2% Bronzewing is located in the Yandal Greenstone Belt of Western Australia. Franco-Nevada’s royalty covers 590 km 2 including all Mineral Resources identified. 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 0.5 $ − $ − M&I Resources (koz Au) 1 3,882 3,909 1,282 Inferred Resources (koz Au) 1 518 459 263 P&P Reserves (koz Au) 1 2,320 2,147 791 M&I Royalty Ounces (000s) 1,2 36 37 26 Inferred Royalty Ounces (000s) 2 5 4 5 P&P Royalty Ounces (000s) 2 20 19 16 1 Please refer to the tables on pages 118-124 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 47% of Mineral Resources and Mineral Reserves (47% in 2022, 100% in 2021) are subject to our royalty interest and estimates a rate of 2.0% is applicable Bronzewing produced 2.19 million ounces of gold from several open pit and underground deposits from 1994 to 2004 and a further 0.19 million ounces from open pit deposits from 2010 to 2013. The project has changed ownership several times since 2013. Northern Star acquired the project in November 2019 in a A$193 million take-over deal. Northern Star invested A$180 million to double capacity at the Thunderbox Mill from 3.0 Mtpa to 6.0 Mtpa. The mill expansion was completed in December 2022 and mining resumed at Bronzewing in April 2023. Ore is sourced from the Orelia open pit gold deposit and hauled 100 km south to the Thunderbox Mill for processing. Northern Star’s Yandal Production Centre includes Bronzewing (Orelia), Thunderbox and Jundee. Northern Star reported total production of 495,548 ounces of gold at the Yandal Production Centre in 2023. Approximately 4% of total Yandal Production Centre gold productions was subject to Franco-Nevada’s royalty in 2023. The Yandal project also includes the Julius deposit where Franco-Nevada has a 1.5% NSR royalty under a separate royalty agreement. During 2021, Northern Star developed Julius as a satellite deposit of the Jundee Gold Mine. Mining at Julius ceased in June 2022, though some stockpile ore remains. Franco-Nevada received $0.1 million of royalty revenue from Julius in 2023. Yandal (Bronzewing) 2% NSR kilometer 10 0 N Current Royalty Tenements Excluded from Royalty Perth Port Hedland Kalgoorlie Wiluna Leinster Norseman Kambalda Yandal N BRAZIL BOLIVIA PARAGUAY Orelia Operating mine Ore transported and processed at a central mill Franco-Nevada Corporation ★ 81 TSX / NYSE: FNV Rest of World

Kiziltepe, Türkiye M A T I L D A ( W I L U N A ) Location: Australia | Operator: Wiluna Mining Corporation Limited | Precious Metals: Au | Royalty: NSR: 3.6% Franco-Nevada holds a 3.6% NSR royalty on all gold production from the Matilda/Wiluna Gold Project located in Western Australia, covering all of the 1,150 km 2 property. Wiluna was discovered in 1896 and has produced in excess of 4.0 million ounces of gold to date, with nearly continuous production from 1987 to 2022. Wiluna has a 2.1 Mtpa CIL treatment plant and has processed ore from several open pit and underground deposits. Wiluna Mining Corporation Limited (“WMC”) commissioned a 750,000 tpa Sulphide Ore Concentrate Plant in 2021, but then went into Voluntary Administration on July 20, 2022. Mining operations ceased on December 14, 2022. Stockpile processing continued to February 2023. Small-scale tailings reprocessing activity continued throughout 2023, to offset ongoing care and maintenance costs.Total production at Wiluna was 20,5435 ounces of gold in 2023. Franco-Nevada executed a Forbearance and Convertible Note Deed with the Administrators of WMC in August 2023. Under this agreement, royalties continue to accrue to Franco-Nevada, but Franco-Nevada agreed not to enforce its rights under the royalty agreement while WMC seeks to recapitalize and relist on the ASX. WMC published a Pre-Feasibility Restart Study in February 2024, and a strategic review is underway. Franco-Nevada received no royalty revenue from Matilda/Wiluna in 2023. For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates a rate of 3.6% is applicable K I Z I L T E P E Location: Türkiye | Operator: Zenit Madencilik San. ve Tic. A.S. | Precious Metals: Au & Ag | Royalty: NSR: 2.5% Franco-Nevada has a 2.5% NSR on the Kiziltepe gold - silver mine located in Türkiye which started production in April 2017. Kiziltepe is operated by Zenit Madencilik San. ve Tic. A.S., a JV owned by Özaltin Holding A.S. (53%), Ariana Resources PLC (“Ariana Resources”) (23.5%) and Proccea Construction Co. (23.5%). Kiziltepe produced 17,683 ounces of gold in 2023 compared with 28,421 ounces of gold in 2022. Ariana Resources has previously estimated average production of 20,000 ounces of gold equivalent per year over an 8-year mine life with potential to increase to at least 10 years including satellite deposits. Extensive near-mine exploration is underway, with positive results received across various vein systems covered by Franco-Nevada’s royalty. 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 2.5% is applicable. TSX / NYSE: FNV 82 ★ Franco-Nevada Corporation Rest of World

S I S S I N G U É Location: Côte d’Ivoire | Operator: Perseus Mining Limited | Precious Metals: Au | Royalty: NSR: 0.5% In 2013, Franco-Nevada acquired a 0.5% NSR on tenements that comprise the Sissingué gold project located in Côte d’Ivoire operated by Perseus. The project is comprised of the Sissingué Gold Mine (“SGM”) and the satellite deposits Fimbiasso and Bagoé. Franco-Nevada’s royalty covers SGM but does not cover the Fimbiasso and Bagoé claims. Perseus commenced commercial gold production in 2018. Perseus reported 2023 production from Sissingué of 54,389 ounces of gold and Franco-Nevada received $0.3 million of royalty revenue for the year. In March 2022, Perseus announced that the mine life for Sissingué had been extended to March 2026 with estimated average annual production of 72,000 ounces of gold. Ore was planned to be sourced from the SGM, Bagoé and Fimbiasso deposits and a total of 252,000 ounces of gold were forecast to be recovered over the life of the operation. Production in the latter years was forecast to come primarily from the Fimbiasso and Bagoé satellite deposits, which is not covered by Franco-Nevada’s royalty. Potential was noted for a further mine life extension by processing low grade ore stockpiles. At the Sissingué Gold Mine and Fimbiasso Satellite Pits, ongoing exploration continues to identify extensions to existing mineral deposits and other prospects that have significant potential to extend the life of the Sissingué operation. At Sissingué initial results from the Airport West prospect look encouraging. For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates a rate of 0.5% is applicable P A N D O R A Location: South Africa | Operator: Sibanye-Stillwater | Precious Metals: PGM | Royalty: NPI: 5% The Pandora property forms part of the Bushveld complex 40 km east of the town of Rustenburg, South Africa and is 100% owned by Sibanye-Stillwater following its acquisition of Lonmin plc (“Lonmin”) in June 2019. Under Sibanye-Stillwater, Pandora is now grouped as part of its Marikana operations. Franco-Nevada has a 5% NPI royalty that includes a small minimum annual payment of 100,000 South African Rand. The underground mining operation exploits the UG2 reef horizon with access via a decline from surface. Pandora hosts a large orebody. A deepening of the current decline was completed in 2013, accessing the nine and ten levels. Franco-Nevada has received only modest NPI payments in recent years due to limited mine profitability. It is anticipated that approximately 80% of planned future mining is covered by Franco-Nevada’s 5% NPI royalty. Historical studies have evaluated a parallel decline that would substantially increase production levels. For Royalty Ounce calculation, Franco-Nevada estimates 80% of the Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates an equivalent NSR royalty rate of 0.61% (0.77% in 2022, 1.03% in 2021) is applicable assuming an all-in cost of $1,280/ounce ($1,239/ ounce in 2022, $1,199/ounce in 2021). For 2021 through 2023, Franco-Nevada has assumed a lower margin for the project than in previous years. PGM ounces are converted into Royalty Ounces assuming $850/ounce Pt and $900/ounce Pd ($900/ounce Pt and $1,500/ounce Pd in 2022, $1,000/ounce Pt and $2,100/ounce Pd in 2021) S O U T H K A L G O O R L I E Location: Australia | Operator: Northern Star Resources Limited | Precious Metals: Au | Royalty: NSR: 1-4% Northern Star Resources Limited (“Northern Star”) operates the South Kalgoorlie Operation (“SKO”) which has been producing gold since 1989. SKO is located 15 km south of Kalgoorlie in Western Australia. Franco- Nevada holds a 1.75-4% NSR royalty for gold and a 1-2.25% NSR royalty for other minerals which covers 470 km 2 of the SKO tenements including the HBJ underground mine and the Mt Marion and Pernatty satellite deposits, along with the 1.2 Mtpa Jubilee Mill. Northern Star placed the Jubilee mill on care and maintenance in July 2022, with ore feed directed to mills at Kanowna Belle and Fimiston. Effective January 1, 2023, the royalty agreement was amended to increase the royalty rate on the northern and central sections of the HBJ underground mine from 1.75% to 4%. Northern Star combines reporting of SKO with the Kalgoorlie Super Pit, Mt Chatlotte, Carosue Dam and Kanowna Belle gold mines, and reported total production of 838,193 ounces of gold at the combined Kalgoorlie Production Centre for the year ended December 31, 2023. Franco-Nevada estimates that the royalty production accounts for approximately 10% of total combined Kalgoorlie Production Centre production. Franco-Nevada received $6.04 million of royalty revenue from SKO in 2023. In June 2023 Northern Star approved the $A 1.5 billion KCGM Mill Expansion Project to increase and modernize KCGM’s processing capacity from 13 Mtpa to 27 Mtpa. Construction is underway and scheduled for three years, with a two-year ramp-up towards steady state of 27Mtpa by 2029. Exploration activity includes the Hercules discovery announced May 2023, located 20 km west of the HBJ mine on tenements subject to a 1.75% royalty to Franco-Nevada. Drilling results include 21m at 3.0 g/t gold. For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates a rate of 3.44% is applicable for Mineral Resources and 3.60% is applicable for Mineral Reserves Franco-Nevada Corporation ★ 83 TSX / NYSE: FNV Rest of World

A P H R O D I T E Location: Australia | Operator: Genesis Minerals | Precious Metals: Au | Royalty: NSR: 2.5% Aphrodite Gold project is located in Western Australia, 65 km northwest of Kalgoorlie. Franco-Nevada’s 2.5% gross royalty covers a 29 km 2 area and all Aphrodite Mineral Resources. An advance minimum royalty of A$250,000 per annum applies from November 2017 onward. St Barbara Limited (“St Barbara”) acquired Bardoc Gold Limited for A$157 million in April 2022, and took control of the Bardoc Gold Project. Aphrodite is the largest of the five deposits at Bardoc. In October 2022 St Barbara deferred development plans at Bardoc and in April 2023 sold a group of assets, including the Aphrodite deposit, to Genesis Minerals Limited (Genesis”) for $A 631 million. Aphrodite is excluded from Genesis’ latest five-year development plans. For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates a rate of 2.5% is applicable P E R A M A H I L L Location: Greece | Operator: Eldorado Gold Corporation | Precious Metals: Au | Royalty: NSR: 2% Franco-Nevada has a 2% NSR on the Perama Hill project held by Eldorado Gold Corporation (“Eldorado”). The Perama Hill gold project is located in the Thrace region of northeastern Greece and consists of two mining titles covering an area of 19 km 2 and two mining exploration licenses covering an area of 18 km 2 . Perama Hill has an estimated Mineral Reserve of 995,000 ounces (10.3 million tonnes grading 3.01 g/t) and contemplates operating as a small open pit mine using a conventional carbon-in-leach gold recovery circuit with a 10-year Reserve mine life at approximately 100,000 ounces of gold per year. Eldorado has reported that the project is the next mine expected to be developed in Greece after its Skouries project and that exploration potential in the region supports opportunities for growth. Stakeholder engagement and community consultation is commencing in H1 2024, with next steps to advance through the EIA process. For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates a rate of 2.0% is applicable TSX / NYSE: FNV 84 ★ Franco-Nevada Corporation Rest of World

P R E C I O U S M E T A L S E X P L O R A T I O N A S S E T S Franco-Nevada has interests in 244 exploration stage mining properties (158 precious metals assets and 86 diversified (mining) assets) as at April 2, 2024. Exploration assets represent interests on projects where technical feasibility and commercial viability of extracting Mineral Resources are not demonstrable. Some of these assets have associated Mineral Resources that, to be economic, may require additional Mineral Resources, higher commodity prices, permitting approval, lower geopolitical risk or a better financing environment. A good portion of the properties are inactive and may not see activity again. Some of the properties are in proximity to producing or advanced projects. Franco-Nevada has not visited or audited its full list of exploration assets and has relied on operator reports and/or public disclosures to determine which properties are in good standing. It is possible some properties may have lapsed. The following table is a list of the precious metals exploration assets of Franco-Nevada as at April 2, 2024. A list of the diversified (mining) exploration assets can be found on pages 104-105. Assets that have had their terms or leases expire and have been written off by Franco-Nevada are not listed. Precious Metals Exploration Assets as at April 2, 2024 Asset Operator Interest and % 1 South America Terra Escura , Brazil Talon Ferrous Mineracao Ltda/Votorantim S.A. 1-2% NSR (All Metals); 4% Cash Dividends La Coipa , Chile Kinross Gold Corporation 3% NSR (Au) Pascua-Lama, Chile Barrick Gold Corporation 0.54-2.7% NSR (Cu, Au) San Guillermo , Chile Austral Gold Limited (Guanaco Compania Minera SpA) 1-2% NSR (All Minerals) Volcan (Ojo de Agua) , Chile Hochschild Mining plc (Tiernan Gold Corp.) 1.5% NSR (All Minerals) Ayahuanca , Peru Apumayo SAC 1% NSR (Au) Choreveco , Peru Minera del Norte S.A./Aruntani S.A.C. 0.1-0.3% NSR (Au) Cristiana , Peru Fresnillo Peru S.A.C. 1.5% NSR (All Metals) Los Pinos , Peru Tamerlane Ventures Inc. 0.5% NSR (All Metals) Mansa Musa (Minasnioc) , Peru Peruvian Metals Corp. 2% NSR (All Metals) Parinacochas (Urbaque) , Peru Hochschild Mining plc 2% NSR (All Minerals) Pukaqaqa (Antoro Sur) , Peru Nexa Resources Peru S.A.A. 1-2% NSR (All Minerals) Yanamina , Peru EV Resources Ltd. 5% NSR (All Minerals) Central America and Mexico Cerro San Pedro , Mexico New Gold Inc. 1.95% NSR (Au, Ag) United States Planet , Arizona Planet Mining Company LLC 2% NSR (All Minerals) (buy-back option on 1%) Cripple Creek , Colorado Searchlight Exploration LLC 3% NSR (Au, Ag) La Plata Allard Stock , Colorado Metallic Minerals Corp. 1.5% NSR (All Minerals) Corbin Wickes , Montana Eastern Resources, Inc. 5% NSR (Au) Elkhorn , Montana Eastern Resources, Inc. 1.1875% NSR (Au) Lewis and Clark County , Montana Hartmut W. Baitis et al 1% NSR (All Minerals) Carlin (Currant Creek) , Nevada Carlin Gold Corp. 3% NSR (All Minerals) Carlin (Railroad) , Nevada Orla Mining Ltd. 1% NSR (All Minerals) Carlin (Willow Creek) , Nevada Carlin Gold Corp. 1% NSR (All Minerals) Dune , Nevada Integra Resources Corp. (Millennial NV LLC) 2% NSR (All Minerals) (buy-back option on 1%) Eden , Nevada Integra Resources Corp. (Millennial NV LLC) 2% NSR (All Minerals) (buy-back option on 1%) Fire Creek , Nevada Hecla Mining Company 2.5% NSR (Au, Ag) Gabbs , Nevada P2 Gold Inc. (P2 Gabbs Inc.) 2% NSR (All Minerals) (buy-back option on 1%) Getchell , Nevada Barrick Gold Corporation 2% NSR (Au) Goldstrike (Rodeo Creek) , Nevada Nevada Gold Mines LLC 4% NSR; capped at $500K (Au, Ag) Granite Creek (Getchell) , Nevada i-80 Gold Corp. (Osgood Mining Company LLC) 2% NSR (Au) Hollister , Nevada Hecla Mining Company 3-5% NSR (Au, Ag) Limousine Butte , Nevada NevGold Corp. 1.5-2.5% NSR (Au) Marigold (SAR) , Nevada SSR Mining Inc. 5% NSR (Au) Marigold (Trout Creek) , Nevada Nevada Gold Mines LLC 3% NSR (Au) Marr , Nevada Integra Resources Corp. (Millennial NV LLC) 2% NSR (All Minerals) (buy-back option on 1%) Midas , Nevada Hecla Mining Company 2.5% NSR (Au, Ag) Mountain View 1 , Nevada Integra Resources Corp. 1% NSR (All Minerals) Mountain View 2 , Nevada Integra Resources Corp. (Millennial NV LLC) 0.5% NSR (Au) Nevada Mineral-Eureka County , Nevada Nevada Gold Mines LLC 2% NSR (All Minerals) Ocelot , Nevada Integra Resources Corp. (Millennial NV LLC) 2% NSR (All Minerals) (buy-back option on 1%) Preble , Nevada Barrick Gold Corporation/Nevada Gold Mines LLC 10% NP (Au) Preble (Pinson Fee) , Nevada Barrick Gold Corporation 1.5-7.5% NSR (Au, Ag) Rain-Emigrant-Saddle , Nevada Nevada Gold Mines LLC 1.5% NSR (All Minerals) Sandman , Nevada Gold Bull Resources Corp. 0.5674% NSR on initial 200K oz (Au) Sleeper , Nevada Paramount Gold Nevada Corp. 2% NSR (All Minerals) Tonkin Springs , Nevada McEwen Mining Inc. 1-2% NSR (Au) Wildcat , Nevada Integra Resources Corp. (Millennial NV LLC) 0.5% NSR (Au) Kings Canyon , Utah Pine Cliff Energy Ltd. 4% NSR (Au) Silver Bell , Utah Unico, Inc. 5% NSR plus other (Au, Cu, Pb, Zn) TUG (Tecoma) , Utah Fronteer Development (USA) Inc. 5% NSR (All Minerals) Franco-Nevada Corporation ★ 85 TSX / NYSE: FNV Precious Metals Exploration Assets

Asset Operator Interest and % 1 Canada New Prosperity , British Columbia Taseko Mines Limited Stream 22% (Au) Spences Bridge (Talisker) , British Columbia Talisker Resources Ltd. 2.5% NSR (All Minerals) Spences Bridge (Westhaven) , British Columbia Westhaven Gold Corp. 2% NSR (All Minerals) Taken , British Columbia Independence Gold Corp. 2-4% NSR (All Minerals) (buy-back option to 1%) Tide , British Columbia 0945473 B.C. Ltd. 1.5% NSR (All Minerals) Maverick (Nokomis) , Manitoba Minnova Corp. 2-3% NSR (All Minerals) Maverick (Puffy Lake) , Manitoba Minnova Corp. 2-3% NSR (All Minerals) Oxford Lake , Manitoba Big Ridge Gold Corp. 1.5-2.5% NSR (All Minerals) Clarence Stream , New Brunswick Galway Metals Inc. 1% NSR (All Minerals) Clan Lake (Sito Lake) , Northwest Territories Roland T. Trenaman 2% NSR (All Minerals) Hyde , Nunavut Exploratus Ltd. 2.5% NSR (All Minerals) Catharine 1 , Ontario Canadian Exploration Services Limited 1/3 of a 2-3% NSR (All Minerals) Catharine 4 , Ontario Canadian Exploration Services Limited/Northstar Gold Corp. 2-3% NSR (All Minerals) Detour (Gowest) , Ontario Agnico Eagle Mines Limited 1% NSR (All Minerals) (buy-back option on 0.5%) Detour (Mikwam) , Ontario and Quebec Aurelius Minerals Inc. 0.4824% NSR (All Minerals) Edwards , Ontario Alamos Gold Inc. (Richmont Mines Inc.) 2% NSR (All Minerals) Golden Highway (Aquarius) , Ontario Agnico Eagle Mines Limited 1-2% NSR (All Minerals) Golden Highway (Central Timmins) , Ontario Agnico Eagle Mines Limited 0-1% NSR (All Minerals) Golden Highway (Kerrs Leases) , Ontario Canoe Mining Ventures Corp. (Sheltered Oak Resources Corp.) 1-2% NSR (Au) Golden Highway (Stock) , Ontario McEwen Mining Inc. 1% NSR (All Minerals) Golden Highway (Stoughton) , Ontario Harte Gold Corp. 0.5-2.5% NSR (Au) Hemlo (JOA) , Ontario Hemlo Explorers Inc. 0.5-1% NSR (Au) Kerr-Addison , Ontario Gold Candle Ltd. 1% NSR (All Minerals) Kirkland Lake (2% NSR-AK et al) , Ontario Agnico Eagle Mines Limited 2% NSR (Au) Kirkland Lake (Underlying 2% NSR-Gracie West & AK Extensions) , Ontario Agnico Eagle Mines Limited 2% NSR (Au) Kirkland Lake (Underlying 3% NSR-KLW) , Ontario Agnico Eagle Mines Limited 2-3% NSR (Au) Larose , Ontario Tashota Resources Inc. 0.5% NSR (All Minerals) Marathon PGM (Sally Deposit) , Ontario Generation Mining Limited 2% NSR (Pt, Pd) Musselwhite (North) , Ontario Newmont Corporation 2% NSR (All Minerals) Red Lake (Madsen: Newman-Heyson claims) , Ontario Pure Gold Mining Inc. 1.5-2% NSR (All Minerals) Red Lake (Newman-Todd) , Ontario Trillium Gold Mines Inc./Heliostar Metals Ltd. 1.5-2% NSR (Au) Red Lake (Skinner) , Ontario B2Gold Corp. 1% NSR (All Minerals) Shining Tree (Creso) , Ontario Ore Group of Companies Option to acquire 2% NSR (All Minerals) Shining Tree (Knight) , Ontario Timothy A. Young 2-3% NSR (Au) Sudbury-Podolsky , Ontario KGHM International Ltd. Stream 50% (PGM, Au) Timmins (Cripple Creek) , Ontario Alamos Gold Inc. 0.3825-1.75% NSR (Au) Timmins (Project 81-Avante Mining) , Ontario Avante Mining Corp. 5% NSR (All Minerals) Timmins (Project 81-Kreative) , Ontario Kreative Ventures Limited 5% NSR (All Minerals) Timmins (Project 81-Noble) , Ontario Noble Mineral Exploration Inc. 2% NSR (All Minerals) Timmins (Sewell) , Ontario GFG Resources Inc. 1.5-2.5% NSR (Au) Timmins (West Porcupine) , Ontario GFG Resources Inc. 2% NSR (All Minerals) Timmins (Whitney 1) , Ontario John Prochnau 2.5% NSR (All Minerals) Timmins (Whitney 2) , Ontario Newmont Corporation 2.5% NSR (All Minerals) Wawa , Ontario Red Pine Exploration Inc. 1.5% NSR (All Minerals) Windarra (East Property) , Ontario Wesdome Gold Mines Ltd. 0.5% NSR (All Minerals) Cadillac-Sphinx , Quebec Agnico Eagle Mines Limited 1.5% NSR (All Minerals) Casa Berardi (Caribou-Estrees) , Quebec Yorbeau Resources Inc. 1.275-2.125% NSR (Au, Base Metals) Casa Berardi (Dieppe) , Quebec Hecla Quebec Inc. 2-3% NSR (Au) Destiny (Rochebaucourt) , Quebec Big Ridge Gold Corp./Clarity Gold-optionee 3% NSR (All Minerals) Eastmain , Quebec Fury Gold Mines Limited 1-1.15% NSR on initial 250K oz (Au) Fenelon , Quebec Wallbridge Mining Company Limited 1% NSR (All Minerals) Galinee , Quebec Glencore plc (Glencore Canada Corporation) 1.5-2% NSR (Au) Martiniere , Quebec Wallbridge Mining Company Limited 2% NSR (All Minerals) Mia , Quebec Q2 Metals Corp. 2% NSR (All Minerals) Norlartic-Camflo , Quebec Agnico Eagle Mines Limited 25% NPI (All Minerals) N2 (Northway-Noyon) , Quebec Wallbridge Mining Company Limited 1% NSR (All Minerals) Phoenix , Quebec Bonterra Resources Inc. 0.5% NSR (All Minerals) (buy-back option on 0.25%) Wilson (Verneuil) , Quebec Cartier Resources Inc. 0.5% NSR (All Minerals) Flume , Yukon Commander Resources Ltd. 2.5% NSR (All Minerals) (buy-back option to 1%) Hy , Yukon Lions Bay Mining Corp. 2% NSR (All Minerals) (buy-back option to 1%) TSX / NYSE: FNV 86 ★ Franco-Nevada Corporation Precious Metals Exploration Assets

Asset Operator Interest and % 1 Australia Brown’s Creek , New South Wales Australian Native Landscapes/Hargraves Resources NL 2.25% NSR (All Minerals) Brown’s Creek (Blayney) , New South Wales Regis Resources Limited 2.25% NSR (All Minerals) Brocks Creek (Zapopan) , Northern Territory Agnico Eagle Mines Limited A$20/oz (Au) Reynolds Range , Northern Territory Prodigy Gold NL 1-2.5% NSR (Au) Rover , Northern Territory Castile Resources Limited 1.5-2.5% NSR (All Minerals) Spring Hill , Northern Territory PC Gold Pty Ltd A$5.70-13.30/oz (Au) Tennant Creek , Northern Territory Emmerson Resources Limited 1.29% NSR (Au) Tennant Creek (Chariot) , Northern Territory Emmerson Resources Limited A$17.10 or A$30/oz (Au) Tennant Creek-Evolution , Northern Territory CuFe Ltd/Evolution Mining Limited 1.29% NSR (Au) Tennant Creek (Orlando) , Northern Territory CuFe Ltd/Evolution Mining Limited A$30/oz; capped at 64K oz (Au) Crush Creek , Queensland Navarre Minerals Limited 2.75% GR (All Minerals) Top Camp , Queensland Orion Metals Limited 0.5% GR (Au)/NPI (Other Minerals) Twin Hills , Queensland Jinan High-Tech Development Co., Ltd. 2.5% NSR (Au) Admiral Hill , W. Australia Focus Minerals Limited Production Payment (Au) Agnew , W. Australia Gold Fields Limited 2.5% GR (All Minerals) Agnew (Cox) , W. Australia Gold Fields Limited 5% GR (Au) Agnew (Miranda Gold) , W. Australia Gold Fields Limited 3% GR (Au) Agnew (Vivien Gold Mine) , W. Australia Ramelius Resources Limited 3% GR (Au) Bullabulling , W. Australia Zijin Mining Group Co., Limited 1% GR (Au) Bullfinch , W. Australia Torque Metals Limited 1% NSR (Au) Butcher Well , W. Australia AngloGold Ashanti Limited/Northern Star Resources Limited 1% NSR; 50K oz production threshold (Au) Butcher Well Area , W. Australia AngloGold Ashanti Limited/Northern Star Resources Limited 0.68-1% NSR (Au) Duketon (Southwest) , W. Australia Regis Resources Limited 2% NSR (All Minerals) Duketon (West) , W. Australia Regis Resources Limited/Duketon Mining Limited (Ni only) 2% NSR (All Minerals) Flushing Meadow , W. Australia Yandal Resources Limited 1% NSR (Au, Other Minerals) Glenburgh , W. Australia Gascoyne Resources Ltd 1.5% NPI (All Minerals) Granny Smith (Windich South) , W. Australia Gold Fields Limited 1% NSR (All Minerals) Gum Creek (Gidgee/Wyooda Thangoo) , W. Australia Horizon Gold Limited A$0.60/tonne (Au) Gum Creek (Sandstone II/Howards) , W. Australia Horizon Gold Limited A$0.35/dry tonne (All Minerals) Lake Maitland , W. Australia Toro Energy Limited (Uranium)/Mega Uranium Ltd (Au, Other Minerals) 1% NSR (All Minerals) Marvel Loch (May Queen) , W. Australia Shandong Tianye Real Estate Development Group Co., Ltd. A$0.50-1.00/cubic metre (Au) Mungari (Carbine North/Chadwin’s Dam) , W. Australia Evolution Mining Limited 3% NPI (All Minerals) Mungari (Lady Jane) , W. Australia Evolution Mining Limited 4.5% GR (Au) Munni Munni , W. Australia Alien Metals Ltd One-time payment on production (Au and/or Pt) Murrin Murrin Gold , W. Australia Zeta Resources Limited 2.625% NSR (Au, Sulfides) Paddington (Breakaway Dam/12 Mile) , W. Australia Zijin Mining Group Co., Limited A$1/ton (All Minerals) Paddington (Matt Dam) , W. Australia Zijin Mining Group Co., Limited A$0.60/tonne (Au) Polar Bear , W. Australia S2 Resources Ltd 2% NSR (All Minerals) Randwick Gold Hill , W. Australia E Bouverie, Trindal P/L, Lucas Gold P/L et al 1-1.5% GR (Au) Rebecca , W. Australia Ramelius Resources Limited 1.5% NSR (Au) South Kalgoorlie (St Ives) , W. Australia Gold Fields Limited 1-1.75% NSR (Au, Ag, Other Minerals) Super Pit (Western Lease) , W. Australia Northern Star Resources Limited 2.5% GR (Au) Talga Talga , W. Australia Novo Resources Corp. 1.5% NSR (Au) Western Tamani (Coyote) , W. Australia Black Cat Syndicate Limited A$5-15/oz on production between 300K-1M oz (Au) Yundamindera , W. Australia Nex Metals Explorations Ltd/Metalcity Limited (earning 51%) 1% NSR (Au) Rest of World Maibulak deposit , Kazakhstan KAZ Minerals plc $10.41/oz plus escalator (Au) Cooke 4 , South Africa Sibanye Stillwater Limited 7% Stream (Au) A ğ i Da ğ i-Camyurt , Türkiye Alamos Gold Inc. 2% NSR (Au) Hasandagi , Türkiye Koza Altin 2% NSR (Au) Karadag , Türkiye Koza Altin 2.5% NSR (Au) Torul , Türkiye Koza Altin 1.5% NSR (Au) 1 Royalty terms have been simplified for presentation purposes. Different terms may apply to certain portions of properties or by commodity. Some royalties may have sliding scales tied to commodity price. Others may include participation in sale proceeds of property or gross sales Franco-Nevada Corporation ★ 87 TSX / NYSE: FNV Precious Metals Exploration Assets

TSX / NYSE: FNV 88 ★ Franco-Nevada Corporation

D i v e r sified Assets

D I V E R S I F I E D A S S E T S I N D E X (Iron Ore, Other Mining and Energy) DIVERSIFIED Iron Ore 92 Vale (Iron Ore, Cu, Au & Other) 92 LIORC (Iron Ore) 94 Other Mining 95 NuevaUnión (Relincho) (Cu, Au & Mo) 95 Taca Taca (Cu, Au & Mo) 96 Caserones (Cu & Mo) 97 Copper World Project (Cu, Mo, Ag & Au) 98 Ring of Fire (Cr, Ni, Cu & PGM) 99 Mt Keith (Ni) 100 Crawford (Ni, Co, Cr & PGM) 101 Robinson (Cu, Mo, Ag & Au) 101 EaglePicher (De) 102 Copper Creek (Cu, Mo & Ag) 102 Milpillas (Cu) 102 Diversified (Mining) Exploration Assets 104 U.S. Energy 108 Marcellus 108 Haynesville 109 SCOOP/STACK 110 Permian Basin 111 Canadian Energy 112 Weyburn Unit 112 Orion 113 Other Producing Energy Assets 114 Energy Exploration Assets 115 TSX / NYSE: FNV 90 ★ Franco-Nevada Corporation

Diversified Assets Midale Weyburn Edson SCOOP Midland Orion Delaware STACK Marcellus Ring of Fire Crawford Taca Taca NuevaUnión (Relincho) Milpillas Haynesville Vale N. System Vale S.E. System Sossego Robinson Copper World Project Carol Lake EaglePicher Producing Advanced Exploration Mt Keith Producing Advanced Producing (Energy) South Kalgoorlie (Mt Marion Lithium) Caserones Copper Creek Franco-Nevada Corporation ★ 91 TSX / NYSE: FNV

V A L E Location: Brazil, South America | Operator: Vale S.A. | Metals: Iron Ore, Cu, Au & Others | Royalty: 0.264% Iron Ore, 0.367% Copper/Gold, 0.147% Other 1 In April 2021, Franco-Nevada acquired 57 million Participating Debentures (“Royalty Debentures”) for $538 million, providing holders with effective net sales royalties on Vale S.A.’s (“Vale”) Northern and Southeastern Iron Ore Systems and on certain copper and gold operations in Brazil (together, the “Royalty”). 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 35.1 $ 40.7 $ 59.4 Vale (Northern and Southeastern System) M&I Resources (Mt Iron Ore) 2 16,809 17,150 – Inferred Resources (Mt Iron Ore) 2 3,877 3,880 – P&P Resources (Mt Iron Ore) 2 8,534 8,865 10,773 Sossego (Au) P&P Reserves (koz Au) 2 518 470 583 Sossego (Cu) P&P Reserves (Mlbs Cu) 2 1,102 1,166 1,495 M&I Royalty Ounces (000s) 3 1,114 1,380 1,141 Inferred Royalty Ounces (000s) 3 64 84 – P&P Royalty Ounces (000s) 3 800 1,006 1,141 1 See Franco-Nevada AIF for the year ended December 31, 2023 and Vale’s website for Royalty Debenture details including deed, semi-annual debenture reports, and annual mineral property inventory 2 Please refer to the tables on pages 118-124 for a breakout of grade and tonnages and details for Sossego Mineral Resources 3 For Royalty Ounce calculation, the Vale Royalty covers specified mining rights in the Northern and Southeastern Systems reflecting the specified properties held by Vale at privatization. At the Northern System, all of the Mineral Resources and Mineral Reserves are estimated to be covered by the Vale Royalty and at the Southeastern System, 60% of Mineral Reserves are estimated to be covered by the Vale Royalty and due to the limited recent disclosure by Vale S.A. on Mineral Resources for the Southeastern System only Mineral Resources covering Itabira are included in the calculation. Historically, approximately 70% of Southeastern System production has been attributable to the Vale Royalty and is expected to remain at that level over the medium-term. The Mineral Reserves of the Southeastern System include non-approved projects that are not covered by the Vale Royalty (e.g., the Apolo project). In addition, Franco-Nevada accounts for moisture, mass recovery, and allowable deductions under the Vale Royalty, as described more fully on Vale’s website. For the Royalty Ounce calculation associated with the Mineral Reserves of the Sossego mine, Franco-Nevada accounts for allowable deductions and mineral recovery and Mineral Resources have been excluded based on limited disclosure by Vale S.A. and inclusion of projects not covered by the Vale Royalty in the Mineral Resources. Refer to Vale’s 2022 20-F annual report for additional information The acquisition represents 14.7% of the total issued Royalty Debentures by Vale. The Royalty Debentures were issued in 1997 with the privatization of Vale to provide exposure to future resource growth from specified properties held at the time. Royalty payments are made by Vale on a semi-annual basis on March 31st and September 30th of each year reflecting production in the preceding half calendar year period. Northern System The Royalty terms, on a 100% basis, provide for a 1.8% (0.264% attributable) net sales royalty on iron ore sales from the Northern System mines. The Northern System located in Carajas, Para state, Brazil is a fully integrated operation inclusive of mines, railroad, maritime facilities and a port. The Northern System includes the Serra Sul (i.e. S11A-D), Serra Norte and Serra Leste mines and represents one of the largest mining complexes globally with long-life reserves and excellent potential for mine life extensions. The Northern System has been in operation since 1984 with the most recent development of the Serra Sul (S11D) mine in 2016. The current reserve life at the complex supports multi-decades of mining. The Northern System produced 173 Mt of premium high-grade iron ore in 2023. Production is expected by Vale to be in line year over year and gradually increase through the approved expansion of Serra Sul (+20 Mt project) and other growth projects. Southeastern System The Royalty terms, on a 100% basis, provide for a 1.8% (0.264% attributable) net sales royalty on iron ore sales from the portion of production covered by the Royalty in the Southeastern System. The Southeastern System located in the Iron Quadrangle of Minas Gerais, Brazil is a key global producer of pellet feed and is a fully integrated complex with rail, maritime facilities and a port. Contributions to the Royalty will start once a cumulative sales threshold of 1.7 Bt of iron ore has been reached, expected by Vale in 2025, adding approximately 30% volume attributable to the Royalty. The Royalty provides partial coverage of the three Southeastern System mining complexes. The primary complexes within the Royalty area are: Itabira, Minas Centrais (Brucutu mine), Mariana (Fazendao and, to a lesser extent, Capanema mines). We estimate attributable production of c.60 Mtpa from these complexes over the medium to long term. Sossego The Royalty also provides for a 2.5% royalty on 50% of net sales (i.e. 1.25% or 0.183% attributable) on certain copper and gold assets related to Sossego, reflecting Vale’s ownership at the time of issuance. Sossego is located in Carajas, Para state, Brazil and is an open pit operation with nominal capacity to produce approximately 93 kt per year of copper in concentrate. Sossego produced 66.8 kt of copper in 2023. The Royalty further covers certain adjacent satellite deposits to Sossego which are being studied by Vale as replacement/life extensions for the operation. Vale, Brazil TSX / NYSE: FNV 92 ★ Franco-Nevada Corporation Iron Ore

Other Additionally, the Royalty provides for a 1% (0.147% attributable) net sales royalty on all other minerals (specified mining rights include prospective deposits for other minerals including zinc, manganese, amongst others), subject to certain thresholds. A 1% rate (0.147% attributable) applies to net proceeds in the event of an underlying asset sale. In total, the Royalty covers approximately 15,000 km 2 of prospective geology. Vale 0.264% Iron Ore, 0.367% Copper/Gold 0.147% Other Iron Asset Royalty Area Cu/Au Asset Southeastern System Northern System Brazil Southeastern System Caué (Fe) Conceição (Fe) Itabira Overview Minas Centrais Overview Mariana Overview Brucutu (Fe) Fazendão (Fe) Capanema (Fe) Alemão Project (Cu/Au) Serra Norte (Fe) Serra Leste (Fe) S11D (Fe) Sossego (Cu/Au) Northern System kilometer 10 0 N kilometer 10 0 N World class iron ore mines producing high quality iron ore for low emission steel Strong potential for growth and multi-decade mine lives Fully integrated production provides cost advantage Large land package of approximately 15,000 km 2 Vale, Brazil Franco-Nevada Corporation ★ 93 TSX / NYSE: FNV Iron Ore

L I O R C Location: Newfoundland and Labrador, Canada | Operator: Rio Tinto plc | Metals: Iron Ore | Royalty: GORR 0.7% Iron Ore, IOC Equity 1.5% Franco-Nevada holds 6.3 million common shares (a 9.9% equity investment) in Labrador Iron Ore Royalty Corporation (“LIORC”). 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 12.1 $ 14.8 $ 30.2 M&I Resources (Mt Iron Ore) 1,931 1,931 1,930 Inferred Resource (Mt Iron Ore) 811 811 895 P&P Reserves (Mt Iron Ore) 1,077 1,077 1,144 M&I Royalty Ounces (000s) 1,2 296 332 349 Inferred Royalty Ounces (000s) 2 124 139 162 P&P Royalty Ounces (000s) 2 165 185 207 1 Please refer to the tables on pages 118-124 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, calculation based on overriding royalty interest only and takes into account moisture, mass recovery, and allowable deductions. Refer to LIORC’s annual report for additional information The position was acquired over a number of years for a total investment of C$93 million, representing an average cost of C$14.72/share. The investment in LIORC functions similar to a royalty given the flow through of revenue generated from LIORC’s underlying 7% gross overriding royalty interest (0.7% attributable), C$0.10 per tonne commission (C$0.01 per tonne attributable), and 15.1% equity interest (1.5% attributable) in Iron Ore Company of Canada’s (“IOC”) Carol Lake mine, operated by Rio Tinto plc (“Rio Tinto”). LIORC normally pays cash dividends from net income derived from IOC to the maximum extent possible, while maintaining appropriate levels of working capital. Over the past four years (2020-2023), cash flow from operations at LIORC has ranged from 67% to 43% from the royalty and commission with the balance from IOC dividends from the 15.1% equity interest. IOC produces high grade +65% Fe iron ore concentrate for sale and pellets with a reserve-only +20-year mine life and a large mineral resource supporting further extensions. IOC has nominal capacity of 23.3 Mtpa (combined concentrate and pellets) with 2023 attributable sales of 16.5 Mt and Rio Tinto has provided 2024 guidance of saleable production between 16.7 Mt and 19.6 Mt. In 2023, total capital expenditures at IOC were US$362 million, below the forecast of US$407 million due to deferral of certain projects. In 2024, capital expenditures at IOC are forecast by IOC to be US$431 million, including US$80 million of growth and development projects. Development projects include redesign of the Mill 11 Fine Circuit and the replacement of existing heavy fuel oil steam capacity with an electric boiler. IOC benefits from integrated infrastructure, including the mine, concentrator/pellet facilities, railway, and a port at Sept-Îles, Quebec. IOC has a long history as a supplier of high quality, low impurity, premium iron ore and pellets which has typically received premium prices from the European steel making industry. Producer of high-quality pellets and fines +20-year reserve life with large resource base to support extensions Fully integrated from mine to port, operated by Rio Tinto +50-year track record LIORC, Newfoundland and Labrador TSX / NYSE: FNV 94 ★ Franco-Nevada Corporation Iron Ore

N U E V A U N I Ó N ( R E L I N C H O ) Location: Chile, South America | Operator: Teck Resources Limited / Newmont Corporation | Metals: Cu, Au & Mo | Royalty: NSR: 1.5% Franco-Nevada has a 1.5% NSR royalty covering the Relincho property that is part of the NuevaUnión project being advanced by 50/50 joint venture partners, Teck Resources Limited (“Teck”) and Newmont Corporation (“Newmont”). 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ − $ – $ – M&I Resources (Mlbs Cu) 1 16,068 16,068 16,068 Inferred Resources (Mlbs Cu) 1 5,752 5,752 5,752 P&P Reserves (Mlbs Cu) 1 12,078 12,078 12,078 M&I Royalty Ounces (000s) 1,2 346 399 349 Inferred Royalty Ounces (000s) 2 141 163 143 P&P Royalty Ounces (000s) 2 248 286 250 1 Please refer to the tables on pages 118-124 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 1.275% (which factors a NSR smelting charge of 15%) and excludes the first four years of production from estimates. Copper has been converted to Royalty Ounces assuming $3.75 per pound ($4.00 per pound in 2022, $3.50 per pound in 2021) The NuevaUnión project was formed in 2015 combining Teck’s Relincho project with Newmont’s La Fortuna (formerly El Morro) deposit, located approximately 40 km apart in the Atacama region of Chile. Franco-Nevada’s 1.5% NSR is subject to a maximum price of $6.00/lb copper and threshold price of $1.50/lb copper, inflation adjusted. No royalty is paid if the average price for the quarter is less than the threshold price and royalty payments commence four years after commercial production. Franco- Nevada acquired the royalty through its acquisition of Lumina Royalty Corp. in December 2011. NuevaUnión is one of the largest undeveloped copper-gold-molybdenum projects in the Americas. A preliminary economic assessment disclosed by Teck in 2015 contemplated a conveyor to transport ore from the La Fortuna site to a single line mill and concentrator facility at the Relincho site. A 2018 prefeasibility study outlined a 36-year mine life, with a three-phase development approach assuming life of mine average production of 251,000 tonnes of copper equivalent production. Phase 1 (Years 1 – 3) would see mining and a processing facility at the Relincho site assuming processing of 104,000 tonnes per day (“tpd”). In Phase 2 (Years 4 – 18), mining activities would transfer to the La Fortuna site utilizing an ore conveyance system to transport ore to the processing facilities at Relincho (116,000 tpd in Phase 2). Phase 3 (Years 19 – 36) would see mining activities transfer back to Relincho with an expansion to the processing facilities increasing processing to 208,000 tpd. A feasibility study was also completed in 2020, with further optimization work conducted. Work in 2023 advanced select technical and strategic work which will continue in 2024 with a focus on establishing a cost-effective path forward. Community engagement and investment activities will continue in 2024. One of the largest undeveloped Cu-Au-Mo projects in the Americas Joint venture combines Relincho and La Fortuna to one project Project synergies to significantly reduce capital expenditure NuevaUnión (Relincho), Chile Royalty Area Proposed Pit Iquique Antofagasta La Serena Santiago Copiapo Relincho Chile Argentina Chile Bolivia Candelaria Marte-Lobo El Morro Pascua-Lama Cerro Casali Andacollo Regalito Pacific Ocean Proposed Mill NuevaUnión (Relincho) 1.5% NSR kilometer 10 0 N 1.5% NSR Franco-Nevada Corporation ★ 95 TSX / NYSE: FNV Other Mining

T A C A T A C A Location: Argentina, South America | Operator: First Quantum Minerals Ltd. | Metals: Cu, Au & Mo | Royalty: NSR: 1.08% Franco-Nevada has a 1.08% NSR royalty on all copper, gold and molybdenum produced from Taca Taca which was acquired through the acquisition of Lumina Royalty Corp. in December 2011. 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ − $ – $ – M&I Resource (Mlbs Cu) 1 20,835 20,835 20,835 Inferred Resource (Mlbs Cu) 1 4,863 4,863 4,863 P&P Reserves (Mlbs Cu) 1 17,052 17,052 17,052 M&I Royalty Ounces (000s) 1,2 368 490 437 Inferred Royalty Ounces (000s) 2 86 112 100 P&P Royalty Ounces (000s) 2 301 403 359 1 Please refer to the tables on pages 118-124 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 0.918% is applicable for the copper Royalty Ounces (which factors in a NSR smelting charge of 15%). Copper has been converted to Royalty Ounces assuming $3.75 per pound ($4.00 per pound in 2022, $3.50 per pound in 2021) The property hosts a very large copper-gold-molybdenum porphyry system and is located in the Puna region of northwestern Argentina in Salta Province, 230 km west of the provincial capital of Salta. The royalty is subject to a buy-back provision. In November 2020, First Quantum filed an updated NI 43-101 technical report and declared a maiden Mineral Reserve of over 7.7 million tonnes of contained copper. First Quantum’s technical report considers an open pit mine plan which contemplates processing throughput of up to 60 million tonnes per annum through a conventional flotation circuit with an initial mine life of approximately 32 years. The Measured and Indicated Mineral Resource is 2,203 million tonnes, grading 0.43% copper, and contains 9,451,000 tonnes of contained copper, 265,000 tonnes of molybdenum and 6,052,000 ounces of gold. The Proven and Probable Mineral Reserve has been estimated at 1,759 million tonnes, grading 0.44% copper, for 7,735,000 tonnes of contained copper, 214,000 tonnes of molybdenum and 5,087,000 ounces of gold. First Quantum is continuing with the project pre-development and feasibility activities. The primary Environmental and Social Impact Assessment (“ESIA”) for the project, which covers the principal proposed project sites, was submitted in 2019 and supplementary submissions on tailings and waste management were filed in 2022. As part of the revision process, the company received a second set of observations to the ESIA in June 2023 and submitted responses in October 2023. Approval of the ESIA is anticipated in 2024 with subsequent proceedings for construction and operations permits along with necessary approvals to follow. In November 2022, the environmental aspects for a 345kV power line development was approved, however it will require detailed construction permits and the final ESIA to be approved. An additional environmental pre-feasibility ESIA was submitted in 2021 for a bypass and access road construction which approval is underway. The project will also require approval of concessions for borefield water supply for the mine. The Phase III groundwater exploration campaign successfully concluded during the second quarter of 2023, with eighteen pumping wells constructed. The initial water use permit applications were submitted during the second quarter of 2023 and granting of the concessions are expected to follow the ESIA approval. Large porphyry deposit with reserve of over 7.7 million tonnes of contained copper and 5.1 million ounces of gold Potentially First Quantum’s next development project Feasibility activities, pre-development and permitting work underway Taca Taca 1.08% NSR kilometer 5 0 N First Quantum 2020 Technical Report Ultimate Pit Design N Arica Iquique Antofagasta La Serena Copiapo NuevaUnión (Relincho) Bolivia Peru Argentina Taca Taca Pacific Ocean Royalty Area 1.08% NSR 1.08% NSR TSX / NYSE: FNV 96 ★ Franco-Nevada Corporation Other Mining

C A S E R O N E S Location: Chile, South America | Operator: Lundin Mining Corporation | Metals: Cu & Mo | Royalty: NSR: 0.517% Franco-Nevada holds an effective 0.517% NSR on the producing Caserones copper-molybdenum mine located in the Atacama Region of northern Chile. 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 5.8 $ 3.0 $ – M&I Resource (Mlbs Cu) 1 9,434 10,197 – Inferred Resource (Mlbs Cu) 1 908 0 – P&P Reserves (Mlbs Cu) 1 5,990 6,489 – M&I Royalty Ounces (000s) 1,2 80 93 – Inferred Royalty Ounces (000s) 2 8 – – P&P Royalty Ounces (000s) 2 51 59 – 1 Please refer to the tables on pages 118-124 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 0.4395% is applicable for the copper Royalty Ounces (which factors in a NSR smelting charge of 15%). Copper has been converted to Royalty Ounces assuming $3.75 per pound ($4.00 per pound in 2022) Through a series of transactions in 2022 and 2023 Franco-Nevada acquired a 0.517% NSR for a net cost of $42.3 million. Caserones is an open pit mine which began operation in 2013, following a capital investment of approximately US$4.2 billion. On March 27, 2023, Lundin Mining announced that it had entered into a binding purchase agreement to acquire 51% of the outstanding equity of SCM Minera Lumina Copper Chile (“Lumina Copper”), a wholly owned subsidiary of JX Nippon Mining & Metals Corporation of Japan, which operates the mine. The mine is located approximately 135 km southeast of Copiapó, 9 km from the border with Argentina and has a maximum elevation of approximately 4,600 meters above sea level. The porphyry copper-molybdenum deposit is located within a large land package, of which the royalty covers ~170km 2 . The asset produces copper and molybdenum concentrates from a conventional crusher, mill and flotation plant, as well as copper cathode from a dump leach, solvent extraction and electrowinning plant (“SX - EW”). The processing facilities have historically produced approximately 100,000–120,000 tonnes of copper in concentrate, 1,700 to 2,500 tonnes of molybdenum in concentrate and approximately 25,000 tonnes of copper cathodes per year. Lundin issued guidance for 120,000 – 130,000 tonnes of copper in 2024 and they also announced the start of the largest exploration program on the land package since the mine began operations. Producing mine in Chile Long life copper asset Large land package and aggressive exploration program Caserones, Chile 1 Grants the title holder the right to perform mining operations and to extract ore 2 Grants the title holder the right to explore exclusively a determined area for a specified amount of time Caserones 0.517% NSR Chile Caserones Mine Argentina N Arica Iquique Antofagasta Santiago Copiapo Relincho Chile Argentina Bolivia Peru Candelaria Marte-Lobo Jose Maria Los Helados Cerro Casali Andacollo Regalito Caserones Pacific Ocean Chile Exploitation 1 Concession Exploration 2 /Exploitation 1 Concession Caserones Royalty AOI 0.517% NSR kilometer 10 0 N Franco-Nevada Corporation ★ 97 TSX / NYSE: FNV Other Mining

C O P P E R W O R L D P R O J E C T Location: Arizona, United States | Operator: Hudbay Minerals Inc. | Metals: Cu, Mo, Ag & Au | Royalty: NSR: 2.085% Franco-Nevada has a 2.085% NSR royalty covering all metals, including copper, molybdenum, silver and gold extracted from the majority of claims covering the Copper World and East (formerly known as Rosemont) deposits in Pima County, approximately 30 miles southeast of Tucson, Arizona. 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ – $ – $ – M&I Resource (Mlbs Cu) 1,3 11,157 10,597 10,915 Inferred Resource (Mlbs Cu) 1,3 1,940 2,125 1,539 P&P Reserves (Mlbs Cu) 1,3 4,583 – 5,328 M&I Royalty Ounces (000s) 1,2,3 380 412 372 Inferred Royalty Ounces (000s) 2,3 66 83 52 P&P Royalty Ounces (000s) 2,3 156 – 181 1 Please refer to the tables on pages 118-124 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% (99% in 2022, 99% in 2021) of the Mineral Resources and Mineral Reserves are subject to our royalty interest and estimate a rate of 1.772% (1.772% in 2022, 1.772% in 2021) (which factors a NSR smelting charge of 15%). Copper has been converted to Royalty Ounces assuming $3.75 per pound ($4.00 per pound in 2022, $3.50 per pound in 2021) 3 Does not include silver or molybdenum Mineral Resource and Mineral Reserve estimates Hudbay Minerals Inc. (“Hudbay”) is the operator of the asset following its acquisition of Augusta Resource Corporation in 2014. The Copper World project includes seven new deposits discovered in 2021 (then referred to as the “Copper World deposits”), together with the East deposit (formerly known as the Rosemont deposit). The property is situated near a number of large producing copper mines. In November 2021, Franco-Nevada acquired an incremental 0.585% NSR royalty interest on the Copper World Project from certain private sellers. The royalty has identical terms as an existing 1.5% NSR royalty that Franco-Nevada held and covers the same land package, including most of the Copper World deposits. Hudbay received the Final Record of Decision (“FROD”) for what was then referred to as the Rosemont project in June 2017 and, in March 2019, received the Section 404 Water Permit from the U.S. Army Corps of Engineers (“ACOE”). In July 2019, the U.S. District Court for Arizona issued a ruling that vacated the FROD issued by the U.S. Forest Service. Hudbay appealed the ruling to the U.S. Court of Appeals for the Ninth Circuit. In May 2022, the U.S. Court of Appeals for the Ninth Circuit affirmed the U.S. District Court of Arizona’s decision in July 2019. In recent years, Hudbay has focused on advancing the Copper World pits (including Broadtop & Bolsa, West Deposit and Peach-Elgin) which are on private land covered by Franco-Nevada’s royalty. In September 2023, Hudbay released an enhanced Pre-Feasibility Study (PFS) for the Copper World Complex. The PFS announced a Mineral Reserve estimate of 385 million ore tonnes at 0.54% copper and a Mineral Resource of 1,205 million ore tonnes at 0.42% copper. The PFS also announced Inferred Mineral Resources of 275 million ore tonnes at 0.32% copper. The PFS reflects a two-phase mine plan with the first phase reflecting a standalone operation with processing infrastructure on Hudbay’s private land and mining occurring on portions of the deposits located on patented mining claims. The first phase of the mine plan is expected to require only state and local permits and anticipates producing an average of approximately 85,000 tonnes of copper per year for 20 years. The second phase expands mining activities onto federal land and extends the mine life well beyond 20 years. Hudbay expects to receive the remaining state permits required for Phase 1 in 2024. Hudbay intends to initiate a minority joint venture partner process following receipt of the permits, which will allow the potential joint venture partner to participate in and help fund the definitive feasibility study activities in 2025. The earliest timing for a construction decision is late 2025. Franco-Nevada’s royalty covers all metals, including copper, molybdenum, silver and gold Exploration and development studies focused on Copper World targets on private land Copper World Project 2.085% NSR 2.085% NSR kilometer 2 0 N Patented Royalty Licences Mineral Resources Unpatented Royalty Licences Excluded from Royalty Peach North Limb Elgin South Limb Broad Top Butte Bolsa Copper World East Deposit 2017 Reserve Pit 83 Copper World Project Pacific Ocean Oregon Idaho Utah Nevada California Arizona Mexico TSX / NYSE: FNV 98 ★ Franco-Nevada Corporation Other Mining

R I N G O F F I R E Location: Ontario, Canada | Operator: Wyloo Metals Pty Ltd | Metals: Cr, Ni, Cu & PGM | Royalty: NSR/GR: 1-3% In April 2015, Franco-Nevada acquired royalty rights in the Ring of Fire mining district of Ontario and provided a loan to Noront Resources Ltd. (“Noront”). 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ – $ – $ – Ring of Fire (Cr) M&I Resource (Tonnes millions) 1 193 193 193 Inferred Resource (Tonnes millions) 1 55 55 55 P&P Reserves (Tonnes millions) 1 – – – Eagle’s Nest (PGM) M&I Resource ( koz PGM ) 1 1,408 1,627 1,627 Inferred Resource ( koz PGM ) 1 943 1,459 1,459 P&P Reserves ( koz PGM ) 1 – 1,489 1,489 Eagle's Nest (Ni) M&I Resource ( Mlbs Ni ) 1 375 432 432 Inferred Resource ( Mlbs Ni ) 1 249 228 228 P&P Reserves ( Mlbs Ni ) 1 – 413 413 M&I Royalty Ounces (000s) 1,2 200 225 227 Inferred Royalty Ounces (000s) 2 61 74 77 P&P Royalty Ounces (000s) 2 – 20 23 1 Please refer to the tables on pages 118-124 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 For the Ring of Fire Royalty Ounce calculation, Franco-Nevada estimates 100% of the Mineral Resources are subject to our royalty interest and estimates a dollar per tonne value of $1.90/ tonne. For the Eagle’s Nest Royalty Ounce calculation, Franco-Nevada estimates 100% of the PGM and nickel Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates an average rate of 1.0% is applicable for PGM and 0.7% for nickel (which factors a NSR smelting charge of 30%). PGM ounces are converted into Royalty Ounces assuming $850/ounce Pt ($900/ounce Pt in 2022, $1,000/ounce Pt in 2021) and $900/ ounce Pd ($1,500/ounce Pd in 2022, $2,100/ounce Pd in 2021) and nickel has been converted to Royalty Ounces assuming $7.89 per pound ($11.00 per pound in 2022, $9.00 per pound in 2021). Copper Mineral Resources and Mineral Reserves are not included in the Royalty Ounce calculation The funding package enabled Noront to acquire the mining claims held by subsidiaries of Cliffs Natural Resources Inc. (“Cliffs”) in the Ring of Fire mining district, located 500 km northeast of Thunder Bay. The royalty rights provide Franco-Nevada with a long-term interest in a potential new mining camp with exposure to one of the largest chromite resources globally, in addition to a nickel, copper and PGM deposits. The total royalty concession is estimated to cover over 1,000 km 2 . As part of the April 2015 funding package, Franco-Nevada provided Noront with a $25 million loan for a period of five years at a 7% interest rate. Franco-Nevada paid an additional $3.5 million in cash as part of the granting of royalties over the existing Noront property. Franco-Nevada received a 3% royalty over the Black Thor chromite deposit, a 2% royalty over all of Noront’s property in the region (excluding the Eagle’s Nest deposit, see below), 2% on certain other properties previously being advanced by Cliffs, and a number of other third-party exploration royalties. In May 2022, following the acquisition of Noront by Wyloo Metals Pty Ltd (“Wyloo Metals”), Franco-Nevada received full repayment of the loan. In December 2019, Franco-Nevada acquired a 1% gross royalty on Noront’s Eagle’s Nest nickel, copper and PGM deposit, for $3.8 million. Eagle’s Nest currently has over 15.7 million tonnes of Measured, Indicated and Inferred Mineral Resources containing high-grade nickel mineralization with significant copper, palladium and platinum content. In December 2022, Wyloo Metals (the known as Ring of Fire Metals) announced it had signed a Memorandum of Understanding with Webequie First Nation, detailing how the two parties will work together to progress ongoing exploration activities as well as negotiations on a partnership agreement for the proposed Eagle’s Nest mine. Royalty concession estimated to cover over 1,000 km 2 Wyloo as new operator Permitting for the access road is ongoing Royalty licences 2% GR (Cr), 2% NSR (other) Wyloo licences Ring of Fire 1-3% NSR/GR kilometer 20 0 N Royalty licences 2-3% GR (Cr), 2-3% NSR (other) Thunderbird Blue Jay Black Label Black Thor Eagle’s Nest 1% GR Blackbird Eagle 2 Triple J Quebec Ontario Ring of Fire Franco-Nevada Corporation ★ 99 TSX / NYSE: FNV Other Mining

M T K E I T H Location: Australia | Operator: BHP Group Limited | Metals: Ni | Royalty: NPI: 0.25% / GR: 0.375% 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. 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 1.2 $ 0.8 $ 2.3 M&I Resource (Mlbs Ni) 1 2,351 2,390 2,390 Inferred Resource (Mlbs Nu) 1 275 275 275 P&P Reserves (Mlbs Nu) 1 957 1,087 1,087 M&I Royalty Ounces (000s) 1,2 33 51 42 Inferred Royalty Ounces (000s) 2 4 6 5 P&P Royalty Ounces (000s) 2 14 23 19 1 Please refer to the tables on pages 118-124 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 $7.89 per pound ($11.00 per pound in 2022, $9.00 per pound in 2021) BHP Group Limited (“BHP”) is the operator of Mt Keith, a large, low-grade disseminated nickel sulphide ore body with an open pit mine. Franco-Nevada’s royalties cover 236 km 2 and include all of Mt Keith, 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. Mt Keith has been in continuous production since 1993. In June 2023, BHP reported that Mt Keith had an estimated remaining mine life of 12 years. Mt Keith concentrator ore throughput is approximately 10.5 Mtpa with 70% recoveries. Production capacity is 35,000-40,000 tonnes per annum of nickel in concentrate. Mt Keith is part of West Australia Nickel, an integrated business unit of BHP that includes four other mines, a concentrator, a smelter and a refinery. BHP reported that West Australia Nickel total production for the fiscal year ending June 2023 was 80,000 tonnes of nickel. It is estimated that royalty area production accounted for 16% of West Australia Nickel total production in the fiscal year ending June 2023. During 2019, BHP developed the Goliath and Six Mile Well Nickel Deposits at Yakabindie as satellite operations of Mt Keith. Franco-Nevada’s royalty does not cover Goliath or the southern half of Six Mile Well. Yakabindie satellite deposits are expected to provide the majority of ore to the Mt Keith concentrator going forward. BHP progressed 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. Following a sharp fall in nickel prices BHP announced in February 2024 that it will recognize a non-cash impairment charge of $3.5 billion on the carrying value of West Australia Nickel. In addition, BHP will reduce discretionary expenditures and review capital plans. BHP may place West Australia Nickel into a care and maintenance. 12-year reserve life at Mt Keith BHP may place West Australia Nickel in care and maintenance while Ni prices are low Mt Keith 0.25% NPI/0.375% GR Albion Downs Jericho Cliffs Yakabindie Kingston Royalty Area 122.5 km 2 Mt Keith Royalty Area 114 km 2 Mt Keith Perth Port Hedland Kalgoorlie Wiluna N Mt Keith BRAZIL BOLIVIA PARAGUAY Total: 236.5 km 2 kilometer 10 0 N Mt Keith, Australia TSX / NYSE: FNV 100 ★ Franco-Nevada Corporation Other Mining

C R A W F O R D Location: Ontario, Canada | Operator: Canada Nickel Company | Metals: Ni, Co, Cr & PGM | Royalty: NSR: 2% Canada Nickel Company is advancing its Crawford nickel-cobalt sulphide project near Timmins, Ontario where Franco-Nevada holds a 2% NSR on all metals. Crawford represents one of the largest undeveloped nickel resources globally, containing 3.8 Mt of proven & probable nickel reserves. The company completed a bankable feasibility study for a large-scale open pit mining project in 2023. The study outlined a multi-phase operation ramping up from 60 ktpd to 120 ktpd of milling capacity to produce up to 48 ktpa of nickel over a 40-year mine life. The mine would also produce cobalt, chrome, iron and PGMs. Canda Nickel is advancing the project through the permitting process and has attracted investments from Anglo American, Agnico-Eagle, and Samsung SDI. 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 2.0% is applicable. Franco- Nevada has also applied a NSR smelting charge of 30%. Nickel has been converted to Royalty Ounces assuming $7.89 per pound ($11.00 per pound in 2022, $9.00 per pound in 2021) R O B I N S O N Location: Nevada, United States | Operator: KGHM International Ltd. | Metals: Cu, Mo, Ag & Au | Royalty: NSR: 0.225% / other The Robinson open pit mining complex, operated by KGHM, produces copper, gold, silver and molybdenum and is located near Ely, Nevada. Franco-Nevada has three royalties covering the Robinson mine: 1. a 0.225% NSR on all base metal and associated precious metal production; 2. a 10% NSR on 51% of the gold production from the property in excess of 60,000 ounces of gold per year; and 3. under a copper agreement, a price participation royalty on 51% of 40% of each pound of copper production from the property in excess of 130 million pounds of copper produced per annum, multiplied by the spot price, less $1.00 per pound adjusted for inflation (based on 1990 dollars). Amounts are only payable in any year in which the average price of copper during that year exceeds a $1 per pound threshold, as adjusted for inflation (based on 1990 dollars). Franco-Nevada will likely only be paid on the base 0.225% NSR royalty for 2024 as production is expected to be below the royalty threshold level. Robinson received a positive Record of Decision from the Bureau of Land Management in September 2021 for a plan of operations amendment which is estimated to extend the mine life at current production rates until 2028. For Royalty Ounce calculation, Franco-Nevada estimates 100% of the gold and copper Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates an average rate of 0.225% is applicable for gold and 0.1913% for copper (which factors a NSR smelting charge of 15%). Copper has been converted to Royalty Ounces assuming $3.75 per pound ($4.00 per pound in 2022, $3.50 per pound in 2021) Crawford kilometer N Timmins Crawford Annex Crawford Main Zone Resource 455 5 0 Franco-Nevada Corporation ★ 101 TSX / NYSE: FNV Other Mining

C O P P E R C R E E K Location: Arizona, United States | Operator: Faraday Copper Corp. | Metals: Cu, Mo & Ag | Royalty: NSR: 1% and Production Decision Royalty Payments Copper Creek is a 3-kilometer-long porphyry copper deposit located in Pinal County, less than two hours northeast of Tucson, Arizona. Payment of $3,000,000 ($500,000 per year over 6 years) is due to Franco-Nevada following achievement of commercial production of minerals within a 5-mile radius of certain patented claims now held by Faraday Copper Corp. (Faraday). The Copper Creek mineral resource area is within this 5-mile radius and would therefore be expected to trigger such payments upon production. A 1% NSR is payable to Franco-Nevada on all production from certain areas within Faraday’s control. The royalty covers approximately 70% of the Globe and 50% of the Copper Prince open pit resources as reported in Faraday’s Preliminary Economic Assessment (PEA) released in May 2023. The Globe resource contains 9.88 Mt of sulphide/transitional ore at 0.40% Cu and 2.71 Mt of oxide ore at 0.37% Cu. The Copper Prince resource contains 20.72 Mt of sulphide/ transitional ore at 0.45% Cu and 5.89 Mt of oxide ore at 0.36% Cu. The 2023 PEA reported 4.2 billion pounds of copper in Measured and Indicated Mineral Resources. The PEA has a 32-year mine life with average production of 51,100 payable CuEq tonnes per year during active mining. Capital investment is estimated at $798 million with a two-year construction period. The Globe and Copper Prince open pit deposits are currently scheduled to be mined within the first three years of operations. Faraday is currently performing baseline environmental monitoring and data collection to support the permitting process. Faraday is also performing an assessment and classification of waterways for a 404 permit. In 2024, Faraday plans on completing the Phase III exploration drill program focused on resource expansion and testing new targets, metallurgical programs to support coarser grind and tailings optimization and a gold assay program to support the inclusion of gold in future resource updates and project economics. Franco-Nevada has not included Copper Creek in Royalty Ounce estimates M I L P I L L A S Location: Mexico | Operator: Industrias Peñoles, S.A.B. de C.V. | Metals: Cu | Royalty: Production Payment Franco-Nevada has a production payment royalty on the Milpillas copper mine in Sonora, Mexico operated by Industrias Peñoles, S.A.B. de C.V. (“Peñoles”). The royalty is $0.04/lb of copper produced, if the price of copper is above $1.20/lb. The royalty ground covers an estimated 30 km 2 . The project is an underground copper mine and heap leach operation and was acquired by Franco-Nevada in September 2020 as part of a portfolio of 24 royalties from Freeport-McMoRan Inc. Production resumed in mid-2022 after active mining was paused due to low copper prices in Q2 2020. In 2023 Franco-Nevada received $1.1 million in royalty payments from Milpillas. Franco-Nevada has not included Milpillas in Royalty Ounce estimates E A G L E P I C H E R Location: Nevada, United States | Operator: US Silica | Metals: De | Royalty: Production Payment EaglePicher is a diatomaceous earth operation in Pershing County, Nevada, located about 23 miles northwest of Lovelock. The royalty is based on a fixed payment per ton which fluctuates based on the average sales price from the prior year’s sales. The royalty covers approximately 15 km 2 of checkerboard lands. The intervening lands are public and EaglePicher holds unpatented placer claims on those lands as needed for mining. The mine has been in continuous operation since the 1950s with approximately 65% of production coming from Franco-Nevada land. The revenue received from EaglePicher in 2022 and 2023 was $319,000 and $424,000, respectively. Franco-Nevada has not included EaglePicher in Royalty Ounce estimates TSX / NYSE: FNV 102 ★ Franco-Nevada Corporation Other Mining

Franco-Nevada Corporation ★ 103 TSX / NYSE: FNV Other Mining

D I V E R S I F I E D ( M I N I N G ) E X P L O R A T I O N A S S E T S The following table is a list of the diversified (mining) exploration assets of Franco-Nevada as at April 2, 2024. A list of the precious metals exploration assets can be found on pages 85-87. Assets that have had their terms or leases expire and have been written off are not listed. Diversified – Iron Ore and Other Mining Exploration Assets as at April 2, 2024 Asset Operator Interest and % 1 South America Para South Iron Project , Brazil Talon Ferrous Mineracao Ltda 0.5-1% NSR (All Metals) Trairao Iron Project , Brazil Talon Ferrous Mineracao Ltda $0.2995/tonne (Fe) Various-Vale , Brazil Vale S.A. Various (Fe) Bronce West , Chile Masglas America Corporation SpA 1-2% NSR (All Minerals) Calvario , Chile Austral Gold Limited (Minera Mena Chile Limitada) 1-2% NSR (All Minerals) Mirador , Chile Austral Gold Limited (Minera Mena Chile Limitada) 1-2% NSR (All Minerals) Morros Blancos , Chile Pampa Metals Corp.(Pampa Metals Chile SpA) 1-2% NSR (All Minerals) Reina Hija , Chile Sumitomo Metal Mining Co., Ltd. (Sumitomo Metal Mining Chile Ltda) 1-2% NSR (All Minerals) San Valentino , Chile Atacama Copper Exploration Limited 1-2% NSR (All Minerals) Vizcachitas , Chile Los Andes Copper Limited 0.51-2% NSR (All Minerals) United States Chilito-Cyprus Christmas , Arizona Grupo Mexico (Asarco LLC) $0.02/lb (Cu); beyond 650M lbs production Zeolites , Arizona Imagin Minerals et al $1.50/ton plus escalator (Clay) EaglePicher Diatomite II , Nevada EP Minerals, LLC $0.25/short ton plus other (Diatomite) Boling Dome , Texas Total E&P USA, Inc./H & L New Gulf, Inc. $0.0028225 per long ton (Sulfur) Hobson Pearson , Texas Uranium Energy Corp. 20% OR (Uranium) Tintic , Utah Ivanhoe Electric Inc. 1% NSR (All Minerals) Shirley Basin (Davy Crockett) , Wyoming Ur-Energy Inc. (Pathfinder Mines Corporation) 4% GR (Uranium) Canada Carruthers , British Columbia Cariboo Rose Resources Ltd. 2.5% NSR (All Minerals) (buy-back option on 1.5%) Trout Lake (MAX Moly Mine) , British Columbia Cameo Industries Corp. 2.5% NSR (All Minerals) Golden Ridge , New Brunswick Darryl Leblanc 2% NSR (All Minerals) Buchans , Newfoundland and Labrador Canterra Mineral Corporation 2% NSR (All Minerals) (buy-back option on 1%) LabMag (Taconite) , Newfoundland and Labrador Abaxx Technologies Inc. 1.666% GR (Iron Ore-Taconite) Mary March , Newfoundland and Labrador Canstar Resources Inc. 1% NSR plus other (All Minerals) Mazenod , Northwest Territories BFR Copper & Gold Inc. 2% NSR (All Minerals) (buy-back option on 1%) Redstone (Coates Lake) , Northwest Territories Copper North Mining Corp. (Redbed Resources Corp.) 3-4% NSR (Cu, Ag) Black Thor , Ontario Wyloo Pty Ltd 2-3% NSR (Cr, Ni, Cu) Bull Lake , Ontario Wyloo Pty Ltd 2% NSR (All Minerals) Butler and Sanderson (Diagnos) , Ontario Wyloo Pty Ltd /MacDonald Mines Exploration Ltd. ROFR on Diagnos Royalty (Diamonds/Base Metals) Cline Lake , Ontario Alamos Gold Inc. 0.75% NSR (All Minerals) Diagnos , Ontario Debut Diamonds Inc. 2% NSR (All Minerals) Eagle’s Nest , Ontario Wyloo Pty Ltd 1% GR (All Minerals) Folson Lake , Ontario Wyloo Pty Ltd 2% NSR (All Minerals) Kyle , Ontario Renforth Resources Inc. 2% NSR (All Minerals) MacFadyen & Pele , Ontario Wyloo Pty Ltd 2% NSR (All Minerals) Ring of Fire (Original Noront Properties) , Ontario Wyloo Pty Ltd 2% NSR (All Minerals) Sungold , Ontario Interbanc Capital Corp. 2% NSR (All Minerals) Benoist , Quebec Cartier Resources Inc. 1% NSR (All Minerals) (buy-back option on 0.5%) Dalhousie , Quebec Wyloo Pty Ltd 2% NSR (All Minerals) Matagami JV , Quebec Glencore Canada Corporation 2% NSR (All Minerals) Matagami PD1 , Quebec Glencore Canada Corporation Net Carried Interest plus other (All Minerals) Crawford Lake , Saskatchewan Denison Mines Corp. 2% NSR (All Minerals) (buy-back option on 1%) TSX / NYSE: FNV 104 ★ Franco-Nevada Corporation Diversified (Mining) Exploration Assets

Asset Operator Interest and % 1 Australia Mt Fitch , Northern Territory Northern Territories Resources Pty Ltd 1-3% NSR (Cu, Pb, Zn, Co, Ni, U) Bowen Basin (Various) , Queensland (31 assets) Peabody Energy Corp/Pembroke Resources South Pty Ltd Production Payment (Coal) Millmerran (Power Station) , Queensland Millmerran Power Partnership 8.3125% NPI of cashflow; NPV threshold (Coal) Peculiar Knob , S. Australia Peak Iron Mines Pty Ltd Production Payment (Fe) Third Plain , S. Australia Perilya Limited/Minotaur Exploration Limited 0.5% NSR (Zn) Moina , Tasmania Geotech International Pty Ltd A$125K lump sum at commencement of mining Rosebery Extension , Tasmania MMG Limited 2.6305% (Au, Ag, Other Minerals) Agnew (Miranda Nickel) , W. Australia Gold Fields Limited 0.5% of production (Ni) Agnew (Miranda Nickel No2) , W. Australia Ramelius Resources Limited 0.5% of production (Ni) Camelback , W. Australia GME Resources Limited A$0.50/tonne (Ni) FMG Hamersley , W. Australia Fortescue Metals Group Ltd A$0.05/tonne; capped at A$1M (Fe) Jaguar Project (Western Claim) , W. Australia Aeris Resources Limited 1-2% NSR (Cu, Zn, Other Metals) Mt Newman-Victory , W. Australia St Barbara Limited/Astro Resources NL 0.07% GR (All Minerals) South Kalgoorlie (Location 48) , W. Australia BHP Billiton Limited 1-1.75% NSR (Au, Ag, Other Minerals) Rest of World CEXCI , Philippines Nickel Asia Corporation Production Payment; capped at $10M Rogozna (KMC) , Serbia Ibaera Capital Advisers Pty Ltd. 1.5-2% NSR (Au, Base and Other Metals) Kasese , Uganda Scully Royalty Ltd. 10% of free cash flow; capped at $10M (Co) 1 Royalty terms have been simplified for presentation purposes. Different terms may apply to certain portions of properties or by commodity. Some royalties may have sliding scales tied to commodity price. Others may include participation in sale proceeds of property or gross sales Franco-Nevada Corporation ★ 105 TSX / NYSE: FNV Diversified (Mining) Exploration Assets

E N E R G Y A S S E T S Franco-Nevada has owned and invested in energy assets since inception. Our energy investments have allowed us to be opportunistic through the commodity cycles, adding growth and diversity to our portfolio. Energy revenue was 17% of Franco-Nevada’s overall revenue in 2023. The scale of the energy sector along with its many participants has provided access to a diverse set of operators and a broad range of royalty opportunities. Until 2016, Franco-Nevada’s focus was primarily on the Western Canadian Sedimentary Basin. Starting in late 2016, we added exposure to the SCOOP/STACK basins in Oklahoma and the Midland/Delaware basins in Texas due to their attractive economics, favourable regulatory environment and access to market. We subsequently shifted our focus to natural gas, adding royalty assets in the Marcellus shale in Appalachia in 2019, and in the Haynesville shale in East Texas in late 2020 and in Louisiana in 2024. Franco-Nevada’s assets include production from existing wells in addition to exposure to undeveloped acreage which hosts the potential for future well locations. In order to provide an estimate of future reserves and asset life, we engage third-party reserve evaluators to provide estimates for the Proved and Probable categories, and where appropriate, the Possible, and Contingent resource categories for currently producing formations. These estimates inform our view of future well locations and demonstrate long-lived assets. The assets often also benefit from additional upside exposure in the form of hydrocarbon-bearing formations at depth and potentially from enhanced hydrocarbon recovery techniques. Major Producing Assets as at April 2, 2024 United States Marcellus Range Resources Haynesville Various SCOOP/STACK Continental Resources/Various Permian Basin Various Canada Weyburn Unit Whitecap Resources Orion Strathcona Resources Our energy investments have allowed us to be opportunistic through the commodity cycles, adding growth and diversity to our portfolio. Oil and Gas Information Advisory In this Asset Handbook, certain natural gas volumes have been converted to barrels of oil equivalent on the basis of six Mcf to one bbl. Boe and mboe may be misleading, particularly if used in isolation. A conversion ratio of six Mcf to one bbl is based on an energy equivalency ratio and does not represent a value equivalency. TSX / NYSE: FNV 106 ★ Franco-Nevada Corporation

U.S. and Canadian Energy Assets Edson Cardium Formation Cold Lake Anadarko Basin Permian Basin Midland Delaware Stack Scoop Peace River Orion Athabasca Weyburn Williston Basin Midale Appalachian Basin Marcellus Haynesville Neal Hot Springs Oil Gas Geothermal Franco-Nevada Corporation ★ 107 TSX / NYSE: FNV

M A R C E L L U S Location: SW Pennsylvania, United States | Operator: Range Resources | Energy: Natural Gas and NGLs | Royalty: 1% overriding royalty Franco-Nevada has a 1% royalty on the majority of Range Resources Corporation’s (“Range”) operated position in Southwest Pennsylvania. 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 28.0 $ 56.5 $ 36.1 Production (Mboe) 1 1,436 1,442 1,458 Commodity Split (%) 2 Oil 2% 5% 6% Gas 63% 66% 56% NGL 34% 29% 38% 1 Production is referenced in barrels of oil equivalent net to Franco-Nevada, although is comprised mostly of gas and natural gas liquids 2 Percentage based on production revenue from each commodity 3 Asset life is calculated as the Proven, Probable and Possible reserve volumes divided by the prior year production volume The royalty is calculated as 1% of gross production less minor deductions from approximately 338,000 net acres of Range’s working interest position in Washington, Western Allegheny and Southern Beaver counties in Pennsylvania. The royalty applies to existing production and future development from the Marcellus shale formation as well as future potential development from the Utica and Upper Devonian formations. The royalty is registered on title and is a direct interest in real property. The Marcellus is one of the most prolific and active gas and liquids plays in North America. Range’s acreage is in a liquids-rich portion of the Marcellus, enhancing well economics and the overall cost structure. Range helped pioneer the Marcellus shale in 2004 with the successful drilling of the Renz #1 well in Washington County, Pennsylvania. Since that time, Range has developed a track record of growing reserves from its asset base. Range’s position in Southwest Appalachia is estimated to have one of the longest core inventory lives among U.S. natural gas producers, and its diversified portfolio of transportation capacity mitigates in-basin pricing risk. In 2023, Franco-Nevada received $28 million in revenue from the Marcellus royalty. The Marcellus has an estimated asset life of approximately 23 years 3 . There is additional potential in the Utica and Upper Devonian formations, most of which is not included in the above estimate that may increase the longevity of the asset. Diverse exposure to natural gas and natural gas liquids Long-life asset with strong underlying economics Secure land title with exposure to undeveloped formations at depth Range Resources drill pad, SW Pennsylvania Appalachian Basin Marcellus TSX / NYSE: FNV 108 ★ Franco-Nevada Corporation North America

H A Y N E S V I L L E Location: East Texas & Louisiana, United States | Operator: TG Natural Resources, Others | Energy: Natural Gas | Royalty: Various Royalty Rates Franco-Nevada owns a portfolio of royalty rights in the Haynesville natural gas play in East Texas and Louisiana, which it purchased in two separate acquisitions from Mesa Minerals Partners LLC I & II. 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 26.0 $ 72.9 $ 38.5 Production (Mboe) 1 1,886 1,988 1,904 Commodity Split (%) 2 Oil 0% 0% 1% Gas 99% 99% 97% NGL 1% 1% 2% 1 Production is referenced in barrels of oil equivalent net to Franco-Nevada, although is comprised mostly of natural gas 2 Percentage based on production revenue from each commodity 3 Asset life is calculated as the Proven, Probable and Possible reserve volumes divided by the prior year production volume The first portfolio was acquired in December of 2020 for $135 million and the second portfolio was acquired in January of 2024 for $125 million. The Haynesville is one of the most active natural gas plays in North America, owing to its strong well performance and close proximity to infrastructure along the U.S. Gulf Coast, which reduces transportation costs and provides exposure to an expanding Liquified Natural Gas export market. The royalties consist of approximately 2,775 acres of mineral rights in East Texas and 1,330 acres in Louisiana (net to Franco-Nevada). The royalty position associated with our first acquisition is situated in a core area of the East Texas portion of the Haynesville, which represents a shallower part of the basin where the producing Haynesville formation is thickest. TG Natural Resources (“TGNR”) acquired Rockcliff Energy in 2023 and they are the key operator in the area. Through our second acquisition, we gained exposure to a broad land position in Louisiana, which provides exposure to both the Haynesville and overlying Middle Bossier formations. This acreage is operated by a variety of large natural gas companies including Southwestern Energy, Chesapeake Energy, Comstock Resources and others. The newly acquired acreage from our second acquisition will begin to contribute volumes and revenue to Franco-Nevada in 2024, however as of 2023 only the first acquisition is reflected in the table on the left. Revenue amounted to $26 million in 2023, representing a decline from 2022 revenues due to a decrease in natural gas prices. The Haynesville has an estimated asset life of approximately 15 years 3 . The royalties also provide development potential in the Cotton Valley formation, which may be further exploited in the future. Natural gas exposure with diverse operators Close proximity to U.S. Gulf Coast enhances economics Secure land title with proven production history Haynesville N 15 0 mile 10 0 kilometer Texas Eagle Ford Barnett Haynesville Bossier NEW MEXICO Louisiana Oklahoma Arkansas Regional Basins Tuscaloosa Fayetteville Woodford Spraberry Bend Permian Basin Anadarko Basin Ardmore Basin Arkomo Basin Fort Worth Basin FNV Royalty Acreage Harrison Panola Shelby Rusk Nacogdoches San Augustine Angelina Sabine Natchitoches Red River De Soto Bienville Webster Bossier Caddo Texas Louisiana Franco-Nevada Corporation ★ 109 TSX / NYSE: FNV North America

S C O O P / S T A C K Location: Oklahoma, United States | Operator: Continental Resources, Ovintiv Inc., Devon Energy, Others | Energy: Oil and Natural Gas Royalty: Various Royalty Rates Through several discrete transactions, Franco-Nevada has accumulated a large royalty position in the SCOOP and STACK plays in Oklahoma. 2023 2022 2021 Revenue to Franco-Nevada ($ million) 1 $ 33.1 $ 57.8 $ 36.4 Production (Mboe) 1 1,028 1,051 893 Commodity Split (%) 2 Oil 25% 40% 48% Gas 70% 57% 47% NGL 5% 4% 6% 1 Includes revenue and production net to Franco-Nevada from both Continental Royalty Acquisition Venture and Other SCOOP/STACK royalties 2 Percentage based on production revenue from each commodity 3 Asset life is calculated as the Proven, Probable and Possible reserve volumes divided by the prior year production volume. Does not include Royalty Acquisition Venture with Continental In the fourth quarter of 2016, Franco-Nevada purchased royalty rights in the STACK shale play in Oklahoma’s Anadarko basin for approximately $100 million. The primary horizon of focus in the area is the Meramec, although the royalties have exposure to multiple horizons at depth, including the Woodford and Osage formations. In the second quarter of 2017, Franco-Nevada acquired additional mineral title and royalty interests for $27.6 million, which added to its existing position in the STACK and provided new exposure to the SCOOP shale play to the south. In total, the assets consist of GORRs and mineral title rights which apply to approximately 1,430 acres (net to Franco-Nevada). The top three operators on the acreage are Ovintiv Inc. (formerly Encana), Devon Energy, and Continental Resources, Inc. (“Continental”). These operators reduced their drilling activity in the play in 2020 owing to a sharp drop in commodity prices, and while the drilling rates have been rebounding, they remain well below peak levels achieved in 2019. The SCOOP/STACK assets have an estimated asset life of approximately 50 years 3 . In the fourth quarter of 2018, Franco-Nevada and Continental entered into a transaction whereby Franco-Nevada acquired $120 million in existing royalties owned by Continental and formed a jointly owned entity (the “Royalty Acquisition Venture”) to acquire up to $400 million in royalty rights under Continental’s area of operations. With the Royalty Acquisition Venture, Franco-Nevada funds 80% of the acreage cost and receives 50-75% of distributions, depending on performance against pre-set volume targets. Franco-Nevada received slightly more than 50% of distributions in 2023, however, our share of distributions is expected to increase going forward, toward a maximum of 75%. In exchange for the partial capital carry in favour of Continental, the venture provides Franco-Nevada with an opportunity to acquire royalty rights at the grass-roots level, leverage the value of Continental’s drilling plans, and benefit from the company’s knowledge of local land title and geology. In addition, Continental manages the assets and Franco-Nevada does not incur any administrative burden. The venture was established to acquire royalty rights in areas primarily within acreage operated by Continental. These areas offer strong economics, proximity to infrastructure and future upside via stacked hydrocarbon-bearing horizons. As at December 31, 2023, Franco-Nevada had contributed $450.2 million to the venture, with a remaining commitment of approximately $69.8 million. In the fourth quarter of 2022, Harold Hamm, Continental’s founder, privatized the company through an acquisition of the outstanding publicly traded shares. SCOOP/STACK includes both oil and gas-rich areas Exposure to multiple formations at depth Franco-Nevada share of distributions expected to increase GARFIELD N km 0 40 Black Oil Volatile Oil Condensate Dry Gas DEWEY BLAINE KINGFISHER MAJOR CANADIAN OKLAHOMA LINCOLN CREEK OKFUSKEE HUGHES COAL ATOKA BRYAN MARSHALL JOHNSTON PONTOTOC SEMINOLE POTTAWATOMIE CLEVELAND MCCLAIN GARVIN MURRAY CARTER LOVE JEFFERSON STEPHENS CLAY COTTON WICHITA WILBARGER TILLAMAN JACKSON KIOWA GRADY GREER WASHITA COMANCHE LOGAN PAYNE CADDO CUSTER Pressure Transition miles 0 25 SCOOP/STACK STACK FNV Royalty Acreage Oklahoma City OKLAHOMA SCOOP TEXAS KANSAS ARKANSAS NEW MEXICO MISSOURI COLORADO Anadarko Basin STACK SCOOP TSX / NYSE: FNV 110 ★ Franco-Nevada Corporation North America

P E R M I A N B A S I N Location: Texas & New Mexico, United States | Operator: Pioneer Natural Resources, Occidental Petroleum, Coterra Energy, Others | Energy: Oil Royalty: Various Royalty Rates Franco-Nevada has exposure to the Permian Basin in West Texas, through both the Midland and Delaware sub-basins. 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 47.6 $ 52.6 $ 34.9 Production (Mboe) 1,007 780 708 Commodity Split (%) 1 Oil 51% 77% 78% Gas 30% 12% 11% NGL 19% 11% 11% 1 Percentage based on production revenue from each commodity 2 Asset life is calculated as the Proven, Probable and Possible reserve volumes divided by the prior year production volume These two basins are considered among the most economic and prolific shale oil plays in the U.S. and have been the key drivers behind U.S. oil production growth over the last decade. The Permian is the most active shale play in North America. Effective in the first quarter of 2017, Franco-Nevada purchased a package of royalties in the Midland Basin for approximately $115 million. The Midland Basin comprises the eastern portion of the broader Permian Basin. The royalty acreage is very diversified, covering a significant portion of the core of the Midland basin and providing exposure to multiple benches in the Wolfcamp and Spraberry formations. The royalties consist of approximately 97% mineral title rights, along with some GORR interests, which apply to approximately 1,036 acres (net to Franco-Nevada). The acreage is host to numerous operators, however, Pioneer Natural Resources (“Pioneer”) is the operator for the largest portion of royalty acreage and is one of the largest companies operating in the basin. Pioneer has been is focused solely on its Midland Basin acreage and achieves some of the best well results in the area. ExxonMobil and Pioneer announced a merger in late 2023 which will create the industry’s leading high-quality undeveloped U.S. unconventional inventory position with 1.4 million net acres across the Midland and Delaware basins. The deal is expected to close in the first half of 2024. In the third quarter of 2017, Franco-Nevada acquired a package of royalties in the Delaware Basin for approximately $101 million. The Delaware Basin comprises the western portion of the broader Permian Basin, which is located in West Texas and southeast New Mexico. Sitting to the west of the Midland Basin, the Delaware Basin shares many similarities geologically, and is attractive to operators due to the stacked pay potential and premier economics. The current focus of operators in the Delaware Basin are the Wolfcamp and Bonespring horizons. The royalties consist of approximately 94% mineral title rights, along with some GORR interests, which apply to approximately 676 acres (net to Franco-Nevada). There are various operators across the acreage who continue to direct capital toward the Delaware Basin, which will result in continued development of our assets over time. Franco-Nevada’s Permian assets generated $47.6 million in revenue in 2023 representing a 9.5% decrease from 2022. This was primarily driven by lower realized oil prices coupled with a decrease in wells completed on our land base. The Permian assets have an estimated asset life of approximately 31 years 2 , with additional stacked formations that may be exploited in the future. REAGAN GLASSCOCK MIDLAND ECTOR UPTON CRANE HOWARD MARTIN ANDREWS BORDEN DAWSON CROCKETT IRION Midland Basin WINKLER PECOS REEVES WARD CULBERSON LOVING LEA EDDY JEFF DAVIS New Mexico Texas San Simon Channel Northwest Shelf Central Basin Platform Delaware Basin Net Royalty Acres by County 23% Reeves 16% Martin 15% Glasscock 11% Midland 8% Howard 7% Loving 5% Reagan 4% Upton 3% Ward 3% Culberson 3% Eddy 1.% Lea 1% Other Permian Basin FNV Royalty Acreage Texas Midland Basin Delaware Basin New Mexico Permian Basin N 16 mile 10 0 0 kilometer Royalties provide exposure to Midland and Delaware Basins Permian represents one of the most active and economic plays in North America Exposure to upside through multiple formations at depth Franco-Nevada Corporation ★ 111 TSX / NYSE: FNV North America

W E Y B U R N U N I T Location: Saskatchewan, Canada | Operator: Whitecap Resources Inc. | Energy: Oil | Royalty: NRI: 11.71% /ORR: 0.44% / WI: 2.56% Franco-Nevada, after Whitecap Resources Inc. (“Whitecap”), has the second largest economic interest in the Weyburn Unit, one of the world’s largest geological CO 2 storage projects. 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 50.1 $ 65.0 $ 43.8 Production (Mboe) 1 675 769 736 Commodity Split (%) 2 Oil 100% 100% 100% Gas 0% 0% 0% NGL 0% 0% 0% 1 Net to FNV based on 0.44% ORR, 11.71% NRI and 2.56% WI. ORR and W.I. volumes are a percentage of gross production. NRI volumes are pro-rated based on our profit, reflecting a net interest 2 Percentage based on production revenue from each commodity 3 Asset life is calculated as the Proven and Probable reserve volumes divided by the prior year production volume The Weyburn Unit is located approximately 129 km southeast of Regina, Saskatchewan and encompasses approximately 216 km 2 on a gross basis (net 31 km 2) in which the Mississippian Midale beds are unitized. Franco-Nevada holds a 11.71% NRI, a 0.44% ORR and a 2.56% WI in the Weyburn Unit. Production commenced from the Midale zone within the unitized area in 1955 under primary depletion (solution gas expansion). Establishment of the Weyburn Unit occurred in 1963 for the purpose of implementing a waterflood pressure maintenance scheme. In 2000, Cenovus, the operator at that time, began injecting CO 2 in a portion of the Weyburn Unit as an enhanced oil recovery (“EOR”) method. Currently, CO 2 is being sourced from the Dakota Gasification Company in North Dakota and the Boundary Dam power station in Saskatchewan. Gross production of the Weyburn Unit is approximately 21,000 Boe/d of light oil & NGL’s. For 2023, revenue received by Franco-Nevada from the Weyburn Unit was $50.1 million. Weyburn revenues are linked to the Edmonton Light oil benchmark price which averaged C$99.55/bbl in 2023. Revenue for the NRI is recorded net of deductions for capital and operating costs, which results in increased leverage to the oil price. Oil production, including NGLs, net to Franco-Nevada was 1,849 Boe/d. Franco-Nevada takes product-in-kind for its WI and NRI share of this production and markets it through a third-party marketer. Weyburn is a highly economic reservoir, although our NRI and WI in the unit have higher leverage to commodity price swings than our revenue-based royalties. In 2023, our interests at Weyburn were negatively impacted by the decline in commodity prices compared to 2022, however benefited from lower differentials. Weyburn has an estimated asset life of approximately 23 years 3. Low decline asset with proven production history CO 2 EOR project commenced in 2000 and continues to be rolled out Interests are leveraged to commodity prices Weyburn Unit wells Unitized land Note: not to scale T7 T6 T5 R13W2 R12W2 R14W2 N Weyburn Unit Note: not to scale R15W2 R14W2 R13W2 R12W2 R11W2 R10W2 R9W2 R8W2 R15W2 R14W2 R13W2 R12W2 R11W2 R10W2 R9W2 R8W2 T9 T8 T7 T6 T5 T4 T3 T9 T8 T7 T6 T5 T4 T3 Weyburn, SK Unitized land Midale, SK N TSX / NYSE: FNV 112 ★ Franco-Nevada Corporation North America

O R I O N Location: Alberta, Canada | Operator: Strathcona Resources Ltd. | Energy: Oil | Royalty: Royalty Rate 4% Franco-Nevada acquired a 4% GORR on the Orion Thermal Project in the Cold Lake region of Alberta from OSUM Oil Sands Corp. for C$92.5 million in 2017. 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 13.6 $ 15.1 $ 10.8 Production (Mboe) 302 229 237 Commodity Split (%) 1 Oil 100% 100% 100% Gas 0% 0% 0% NGL 0% 0% 0% 1 Percentage based on production revenue from each commodity 2 Asset life is calculated as the Proven and Probable reserve volumes divided by the prior year production volume In 2021, OSUM was acquired by Strathcona Resources Ltd. (“Strathcona”), who now operates the project. The royalty applies to the Clearwater formation and allows for the deduction of transportation and diluent costs associated with transporting the product to market. Orion is a Steam Assisted Gravity Drainage (“SAGD”) operation that began commercial production in 2007. Infrastructure at the project consists of a central processing facility surrounded by several well pads which supply the plant. As at year-end 2023 Orion was producing approximately ~20,700 barrels per day of bitumen. The asset is permitted to produce up to 25,000 barrels per day of bitumen. Franco-Nevada recorded revenue of $13.6 million in 2023. Royalty payments are based on the WCS benchmark price and are impacted by changes in the differential with WTI as well as by the price of diluent, which is required to transport the product to market. Orion has an estimated asset life of approximately 24 years 2. Long-life resource located in Canada Stable year-over-year production volumes Potential for future capacity expansion Orion processing facilities, Alberta Grand Prairie Calgary Lloydminster Hardisty Edmonton Fort McMurray Cold Lake Peace River Alberta Saskatchewan Orion Athabaska Lloydminster Hardisty Edmonton Cold Lake Orion N Orion Alberta Saskatchewan Liquids Pipeline Franco-Nevada Corporation ★ 113 TSX / NYSE: FNV North America

O T H E R P R O D U C I N G E N E R G Y A S S E T S Location: BC / AB / SK / MB, Canada and Oregon, U.S. | Operator: Various | Royalty: ORR/FH: 0.5-20% Franco-Nevada has other interests in Western Canada which generate revenue primarily through lessor royalties and GORRs. 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 9.0 $ 13.4 $ 8.9 Production (Mboe) 1 227 250 257 Commodity Split (%) 2 Oil 44% 66% 67% Gas 46% 23% 20% NGL 10% 11% 13% 1 Net to the Oil and Gas Interests and does not include production from Neal Hot Springs 2 Percentage based on production revenue from each commodity Aside from the major producing assets of Weyburn and Orion, Franco- Nevada has 44 Other Producing Assets that generate revenue. These interests cover more than 2,250 km 2 . In Saskatchewan and Manitoba, the assets are focused primarily in high quality oil plays and are operated by companies such as Crescent Point Energy, Saturn Oil & Gas Inc., Vermilion Energy Inc. and Tundra Oil & Gas Partnership. The most significant producing assets are comprised of the Midale Unit and the Tidewater royalties. Franco-Nevada holds a 1.14% gross override royalty interest and a 1.59% working interest in the Midale Unit in Southeast Saskatchewan where Cardinal Energy produces approximately 3,800 Boe/d through CO 2 Enhanced Oil Recovery (“EOR”) techniques. The Tidewater royalties in Saskatchewan generate oil production from the Shaunavon and other formations and are managed by various operators. In Alberta and BC, the interests generate revenue primarily from natural gas production from shallow gas formations such as Milk River and Medicine Hat. In northern Alberta, the interests provide exposure to deeper conventional gas targets including the Shunda, Grosmont and Elkton formations. Franco-Nevada’s most significant assets in the region are the Edson property operated by Canadian Natural Resources Ltd. (“CNRL”) and the Medicine Hat Consolidated Unit No.1, operated by Canlin Resources Partnership. Franco-Nevada has an approximate 15% overriding royalty in the Edson property where CNRL extracts gas and natural gas liquids by exploiting resources in the Cardium Formation. The Medicine Hat Unit has been producing gas since 1963 and is located approximately 257 km southeast of Calgary. Other production comes from unitized and non-unitized wells, including gross overriding royalty 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 energy and is operated by Ormat Technologies, Inc. Franco-Nevada received $0.33 million in revenue from Neal Hot Springs in 2023. Primarily quality oil plays in Saskatchewan and Manitoba Exposure to shallow gas and deeper conventional gas in Alberta and BC Interest in the Neal Hot Springs geothermal operation N km 0 80 BRITISH COLUMBIA MONTANA IDAHO WASHINGTON Montney Deep Basin Edson Cardium Duvernay Alberta Bakken Lloydminster Heavy Oil Shallow Gas CBM (HSCN) Redwater Viking CALGARY Peace River Oil Sands Athabasca Oil Sands Cold Lake Oil Sands Alberta/ British Columbia Oil and Gas Interests ALBERTA EDMONTON SASKATCHEWAN Company Core Land Company Non Core Land Major City MANITOBA SASKATCHEWAN NORTH DAKOTA MONTANA Sanish Oil Torquay Oil SE Saskatchewan Lower Bakken and Mississippian Oil Williston Basin Bakken Dodsland Viking Shallow Gas Spearfish Oil REGINA Lloydminster Heavy Oil Shaunavon Oil N km 0 80 Saskatchewan/Manitoba Oil and Gas Interests Weyburn/ Midale ALBERTA Company Core Land Company Non Core Land Major City TSX / NYSE: FNV 114 ★ Franco-Nevada Corporation North America

Location: AB / MB / SK, Canada & Nevada, U.S | Operator: Various Royalty: 0.1-18% and WI: 2-100% In addition to its producing assets, Franco-Nevada has exposure to a portfolio of undeveloped, non-producing oil and gas interests. These are grouped into 27 different assets covering an area of over 1,500 km 2 and are located in Alberta, Saskatchewan and Manitoba along with a small amount of acreage in Nevada. Much of the interests consist of mineral title which is currently unleased. E N E R G Y E X P L O R AT I O N A S S E T S Location Big Bend Alberta Carbon Alberta Cindy/Belloy Alberta Colgate Saskatchewan Devil Alberta Dixonville Alberta Elko Mineral Rights Nevada Flatrock British Columbia Granor Alberta Harvest – SK Saskatchewan Hotchkiss Alberta Killam Alberta Kimiwan Alberta Liege Alberta Long Coulee Alberta Melville Saskatchewan Paradise British Columbia Provost Alberta Prudential – MB Manitoba Prudential – SK Saskatchewan Steelman Saskatchewan Swift Current Saskatchewan Touchwood Alberta Turner Alberta W. Calling Lake Alberta Widewater Alberta O T H E R P R O D U C I N G E N E R G Y A S S E T S E N E R G Y E X P L O R AT I O N A S S E T S Location Alameda Oil Saskatchewan Alida Oil Saskatchewan Benson Oil Saskatchewan Carnduff Oil Saskatchewan Cessford Gas Alberta Claresholm Gas Alberta E. Crossfield Gas Alberta Edson Gas Alberta Elswick Oil Saskatchewan Enchant Gas Alberta Ferrybank Gas Alberta Ghost Pine Gas Alberta Hanlan Gas Alberta Harmattan Gas Alberta Harvest – AB Gas Alberta Huntoon Oil Saskatchewan Innes Oil Saskatchewan Inverness Oil Alberta Laglace Gas Alberta Lesser Slave Oil Alberta Lochend Gas Alberta Lone Pine Gas Alberta Macoun Oil Saskatchewan Manitoba Oil Manitoba Medicine Hat Gas Alberta Midale Royalties Oil Saskatchewan Midale WI Oil Saskatchewan Montreal Trust Oil Saskatchewan Neal Hot Springs Geothermal Oregon Oungre Oil Saskatchewan Pearmac – AB Gas Alberta Pearmac – MB Oil Manitoba Pearmac – SK Oil Saskatchewan Prudential – AB Gas Alberta Qu’Appelle Oil Saskatchewan Queensdale Oil Saskatchewan Rainbow South Oil Alberta Rocanville Oil Saskatchewan Royce Gas Alberta Stoughton Oil Saskatchewan Swalwell Gas Alberta Tidewater Oil Saskatchewan Viewfield Oil Saskatchewan Watts/Craig Oil Alberta Numerous future opportunities in Western Canada and the U.S. Franco-Nevada Corporation ★ 115 TSX / NYSE: FNV

TSX / NYSE: FNV 116 ★ Franco-Nevada Corporation

Mineral Resources and Mineral Reser ves

G O L D M I N E R A L R E S O U R C E S ( I N C L U S I V E O F M I N E R A L R E S E R V E S ) Measured (M) Indicated (I) (M)+(I) Inferred Notes Tonnes 000s Grade g/t Contained 000 oz Tonnes 000s Grade g/t Contained 000 oz Contained 000 oz Tonnes 000s Grade g/t Contained 000 oz South America Candelaria 3,4 806,007 0.13 3,402 563,841 0.14 2,493 5,895 216,677 0.09 606 Antapaccay 5 316,000 0.07 734 868,000 0.08 2,137 2,871 102,000 0.05 164 Condestable 6 40,200 0.21 271 43,300 0.20 278 537 12,900 0.19 79 Sossego 1,7 173,100 0.14 755 235,700 0.13 1,010 1,765 23,000 0.10 74 Cerro Moro 1,8 600 7.06 136 1,300 6.82 285 422 700 8.66 192 Salares Norte 1,9 — — — 21,211 5.35 3,646 3,646 946 1.91 58 Cascabel 10 1,576,000 0.35 17,500 2,159,000 0.20 13,700 31,200 853,000 0.20 5,400 Tocantinzinho 11 17,609 1.49 841 30,505 1.29 1,261 2,102 1,580 0.99 50 Posse (Mara Rosa) 12 13,600 1.20 510 18,700 1.10 640 1,150 100 0.52 2 Taca Taca 13 421,500 0.14 1,853 1,781,800 0.07 4,200 6,052 716,900 0.05 1,183 CentroGold (Gurupi) 14 — — — 29,200 1.82 1,705 1,705 10,400 1.71 572 Calcatreu 15 — — — 9,841 2.11 669 669 8,078 1.34 348 San Jorge 16 79,518 0.22 584 104,091 0.19 626 1,211 11,235 0.16 59 Pascua-Lama 17 43,000 1.86 2,600 390,000 1.49 19,000 21,000 15,000 1.70 860 Volcan 18 123,979 0.70 2,792 339,274 0.64 7,013 9,804 75,018 0.52 1,246 Central America and Mexico Guadalupe-Palmarejo 1,2,19 8,960 2.25 648 21,845 2.05 1,443 2,090 3,817 3.11 381 United States Carlin Trend 20 13,496 1.37 602 260,163 3.18 26,016 26,016 99,187 3.20 10,081 Marigold 1,21 — — — 287,910 0.50 4,603 4,603 27,360 0.42 370 Bald Mountain 1,22 8,381 0.70 189 260,601 0.50 3,986 4,175 49,041 0.30 489 Mesquite 1,2,23 247 1.13 9 56,890 0.55 1,006 1,016 47,682 0.33 510 Castle Mountain 1,24 85,691 0.55 1,515 246,442 0.52 4,123 5,638 69,890 0.63 1,422 Fire Creek/Midas 1,2,25 2 17.14 1 172 15.34 85 86 69,473 1.43 3,185 Hollister 1,2,26 16 19.05 10 64 19.59 40 50 582 14.58 273 Stibnite Gold 1,27 — — — 148,159 1.33 6,317 6,317 52,128 0.96 1,611 Sandman 28 — — — 18,550 0.73 433 433 3,246 0.58 61 Robinson 29 317,942 0.18 1,840 40,173 0.15 194 2,072 11,942 0.18 69 Nevada North (Wildcat & Mountain View) 30 — — — 88,623 0.46 1,324 1,324 26,611 0.32 270 Sleeper 31 4,902 0.54 85 158,337 0.36 1,812 1,897 119,909 0.31 1,214 Canada Detour Lake 1,32 149,564 0.97 4,664 1,398,167 0.74 33,218 37,883 80,128 1.05 2,717 Sudbury 33 not available not available — not available Hemlo 34 980 4.40 140 61,000 1.58 3,100 3,200 7,700 2.50 620 Brucejack 1,35 — — — 13,300 8.42 3,600 3,600 12,100 10.35 4,000 Kirkland Lake 1,36 508 13.16 215 21,314 5.31 3,640 3,856 23,582 4.15 3,144 Dublin Gulch (Eagle) 37 35,237 0.62 705 197,960 0.57 3,596 4,304 29,595 0.52 497 Musselwhite 1,38 4,100 6.07 800 5,100 6.10 1,000 1,800 1,200 4.96 200 Timmins West 1,39 2,800 2.83 254 4,200 2.95 398 652 800 3.06 79 Gold River 1,40 — — — 700 5.29 117 117 5,300 6.06 1,027 Canadian Malartic 1,41 45,474 0.58 852 97,190 2.24 7,001 7,853 53,410 2.06 3,545 Island Gold 1,42 1,165 10.55 395 6,598 9.65 2,046 2,441 7,857 14.58 3,682 Golden Highway - Holt Complex 1,43 5,806 4.29 800 5,884 4.75 898 1,699 9,097 4.48 1,310 Golden Highway - Hislop 1,44 — — — 1,337 4.00 173 173 804 3.80 97 Golden Highway - Aquarius 1,45 — — — 23,112 1.49 1,106 1,106 502 0.87 14 Magino 46 48,800 0.99 1,556 102,000 0.92 3,001 4,557 31,600 0.83 843 Greenstone (Hardrock) 1,47 5,623 1.28 232 145,464 1.45 6,776 7,008 24,949 3.83 3,072 Valentine Gold 48 29,226 2.19 2,059 35,398 1.67 1,897 3,955 20,752 1.65 1,100 Eskay Creek 49 28,648 3.37 3,106 23,252 1.71 1,275 4,380 924 2.26 67 Red Lake (McFinley) 50 — — — 2,130 4.63 317 317 1,780 3.84 220 Courageous Lake 51 6,007 2.84 548 139,167 2.34 10,449 10,997 44,737 2.67 3,841 Goldfields 52 — — — 23,200 1.31 980 980 7,100 0.92 211 Monument Bay 53 — — — 36,581 1.52 1,787 1,787 41,946 1.32 1,781 Red Mountain 54 1,920 8.81 544 1,271 5.85 239 783 405 5.32 69 Fenelon-Martiniere 55 — — — 30,702 3.09 3,054 3,054 24,680 2.96 2,351 Spences Bridge (Shovelnose) 56 — — — 2,983 6.38 612 612 1,331 3.89 166 Wawa 57 — — — 1,307 5.47 230 230 2,716 5.39 471 Kerr-Addison 58 — — — 32,500 1.70 1,800 1,800 79,100 1.32 3,400 Clarence Stream 59 — — — 12,396 2.31 922 922 15,963 2.60 1,334 Australia Duketon 60 21,000 0.86 580 32,000 1.22 1,260 1,850 12,000 1.58 610 Matilda (Wiluna) 61 2,140 4.21 290 19,100 2.80 1,719 2,009 28,720 3.85 3,558 South Kalgoorlie 62 2,184 3.60 253 10,503 3.23 1,090 1,338 7,638 3.64 894 Yandal (Bronzewing) 63 20,230 1.50 996 49,773 1.80 2,886 3,882 9,864 1.60 518 Aphrodite 64 — — — 17,614 2.05 1,163 1,163 7,892 1.97 500 Red October 65 105 8.40 28 608 5.37 105 133 4,992 3.74 600 Henty 66 — — — 1,800 4.50 257 257 900 4.00 111 Bullabulling 67 — — — 68,805 0.99 2,190 2,190 26,595 1.19 1,020 Rebecca 68 — — — 27,000 1.27 1,100 1,100 6,500 1.20 240 Edna May 69 870 1.68 47 23,000 0.99 730 774 7,200 1.12 260 Glenburgh 70 — — — 13,500 1.00 431 431 2,800 0.90 79 Rest of World MWS 71 68,300 0.22 473 165,200 0.25 1,315 1,789 — — — Sabodala-Massawa Complex 72 22,300 1.18 843 83,800 2.04 5,490 6,333 19,900 2.16 1,380 Tasiast 1,73 66,334 1.10 2,356 94,763 1.52 4,628 6,985 19,551 2.40 1,504 Subika (Ahafo) 1,74 40,100 1.71 2,200 82,600 2.41 6,400 8,600 19,900 2.50 1,600 Karma 75 300 0.40 4 47,700 1.24 1,894 1,898 16,200 1.30 679 Edikan 76 15,600 1.07 534 32,100 1.07 1,100 1,634 5,200 1.69 283 Kiziltepe 77 600 3.01 58 698 2.33 52 110 1,180 2.09 79 Séguéla 1,78 440 2.05 29 15,990 2.93 1,506 1,535 3,050 2.50 245 Perama Hill 79 3,093 4.15 412 10,973 2.73 962 1,374 16,006 1.53 787 A ğ i Da ğ i 1,80 2,516 0.74 60 104,453 0.63 2,132 2,192 19,551 0.52 330 Sissingué 81 1,300 1.12 47 1,000 1.49 49 96 100 1.30 3 Total Gold Mineral Resources * 62,957 241,736 303,486 85,966 *Total excludes Cobre Panama and New Prosperity TSX / NYSE: FNV 118 ★ Franco-Nevada Corporation Mineral Resources and Mineral Reserves

G O L D M I N E R A L R E S E R V E S Proven Probable Proven and Probable Notes Tonnes 000s Grade g/t Contained 000 oz Tonnes 000s Grade g/t Contained 000 oz Tonnes 000s Grade g/t Contained 000 oz South America Candelaria 3,4 402,610 0.11 1,465 220,664 0.11 769 623,274 0.11 2,235 Antapaccay 5 227,000 0.07 511 232,000 0.07 522 459,000 0.07 1,033 Condestable 6 18,800 0.24 145 20,700 0.18 120 39,500 0.21 267 Sossego 7 7,600 0.26 64 78,600 0.18 455 86,200 0.19 518 Cerro Moro 8 500 6.33 110 700 8.18 192 1,200 7.41 302 Salares Norte 9 — — — 18,381 5.84 3,454 18,381 5.84 3,454 Cascabel (Alpala) 10 457,500 0.61 8,900 82,200 0.23 600 539,700 0.54 9,400 Tocantinzinho 11 17,973 1.46 842 30,703 1.22 1,200 48,676 1.31 2,042 Posse (Mara Rosa) 12 11,791 1.20 456 12,014 1.20 446 23,805 1.20 902 Taca Taca 13 408,300 0.13 1,750 1,350,200 0.08 3,337 1,758,500 0.09 5,087 CentroGold (Gurupi) 14 — — — 20,000 1.70 1,100 20,000 1.70 1,100 Calcatreu 15 — — — — — — — — — San Jorge 16 — — — — — — — — — Pascua-Lama 17 — — — — — — — — — Volcan 18 — — — — — — — — — Central America and Mexico Guadalupe-Palmarejo 2,19 3,813 2.06 252 7,784 2.07 517 11,596 2.06 769 United States Carlin Trend 20 6,016 1.80 358 128,455 3.73 15,285 133,333 3.64 15,772 Marigold 21 — — — 169,300 0.47 2,863 169,300 0.47 2,863 Bald Mountain 22 638 0.50 9 27,628 0.50 480 28,265 0.50 489 Mesquite 2,23 227 1.23 9 27,979 0.64 575 28,205 0.64 584 Castle Mountain 24 84,910 0.55 1,498 172,990 0.48 2,670 257,900 0.51 4,168 Fire Creek/Midas 2,25 — — — — — — — — — Hollister 2,26 — — — — — — — — — Stibnite Gold 27 — — — 104,625 1.43 4,816 104,625 1.43 4,816 Sandman 28 — — — — — — — — — Robinson 29 110,513 0.15 533 8,860 0.12 34 119,374 0.15 576 Nevada North (Wildcat & Mountain View) 30 — — — — — — — — — Sleeper 31 — — — — — — — — — Canada Detour Lake 32 118,703 0.85 3,230 700,346 0.74 16,698 819,049 0.76 19,928 Sudbury 33 not available not available not available Hemlo 34 760 4.49 110 33,000 1.53 1,600 34,000 1.60 1,700 Brucejack 35 — — — 11,500 8.44 3,100 11,500 8.44 3,100 Kirkland Lake 36 250 16.05 129 4,818 12.96 2,007 5,068 13.12 2,137 Dublin Gulch (Eagle) 37 21,100 0.68 464 96,600 0.63 1,943 117,700 0.64 2,407 Musselwhite 38 3,200 6.78 700 3,800 6.30 800 7,000 6.52 1,500 Timmins West 39 2,400 2.68 207 3,000 2.70 260 5,400 2.69 467 Gold River 40 — — — — — — — — — Canadian Malartic 41 45,474 0.58 852 92,337 2.28 6,757 137,811 1.72 7,609 Island Gold 42 780 10.42 261 4,431 10.27 1,464 5,210 10.30 1,725 Golden Highway - Holt Complex 43 — — — — — — — — — Golden Highway - Hislop 44 — — — — — — — — — Golden Highway - Aquarius 45 — — — — — — — — — Magino 46 26,300 1.24 1,044 37,000 1.11 1,317 63,300 1.16 2,361 Greenstone (Hardrock) 47 5,623 1.28 232 129,700 1.27 5,307 135,323 1.27 5,539 Valentine Gold 48 23,360 1.89 1,430 28,220 1.40 1,270 51,580 1.62 2,700 Eskay Creek 49 27,954 3.00 2,657 11,889 1.80 680 39,843 2.60 3,336 Red Lake (McFinley) 50 — — — 400 5.66 78 400 5.66 78 Courageous Lake 51 2,000 3.50 200 31,900 2.60 2,600 33,900 2.60 2,800 Goldfields 52 — — — — — — — — — Monument Bay 53 — — — — — — — — — Red Mountain 54 2,194 6.68 471 351 5.51 62 2,545 6.52 534 Fenelon-Martiniere 55 — — — — — — — — — Spences Bridge (Shovelnose) 56 — — — — — — — — — Wawa 57 — — — — — — — — — Kerr-Addison 58 — — — — — — — — — Clarence Stream 59 — — — — — — — — — Australia Duketon 60 12,000 0.62 240 14,000 1.58 710 26,000 1.14 950 Matilda (Wiluna) 61 — — — 5,379 2.00 345 5,379 2.00 345 South Kalgoorlie 62 550 3.96 70 1,785 4.40 250 2,335 4.30 320 Yandal (Bronzewing) 63 12,204 1.50 596 29,019 1.80 1,724 41,223 1.80 2,320 Aphrodite 64 — — — 2,782 3.60 322 2,782 3.60 322 Red October 65 — — — — — — — — — Henty 66 — — — 983 3.60 115 983 3.60 115 Bullabulling 67 — — — — — — — — — Rebecca 68 — — — — — — — — — Edna May 69 30 1.01 1 150 3.32 16 180 2.93 17 Glenburgh 70 — — — — — — — — — Rest of World MWS 71 14,200 0.27 123 165,100 0.25 1,308 179,300 0.25 1,431 Sabodala-Massawa Complex 72 19,200 1.14 705 43,600 2.41 3,381 62,800 2.02 4,086 Tasiast 73 56,719 1.10 2,072 45,827 2.00 2,982 102,546 1.50 5,055 Subika (Ahafo) 74 36,900 1.73 2,100 49,800 1.88 3,000 86,700 1.82 5,100 Karma 75 300 0.40 4 5,200 0.93 154 5,500 0.90 158 Edikan 76 7,400 1.07 255 13,900 1.15 516 21,300 1.13 771 Kiziltepe 77 466 2.06 31 451 2.65 38 926 2.39 71 Séguéla 78 440 2.06 29 11,330 3.09 1,125 11,760 3.05 1,154 Perama Hill 79 3,116 4.08 409 7,176 2.54 586 10,292 3.01 995 A ğ i Da ğ i 80 1,450 0.76 36 52,911 0.66 1,130 54,361 0.67 1,166 Sissingué 81 1,100 1.24 44 600 1.59 32 1,800 1.30 75 Total Gold Mineral Reserves 35,602 103,113 138,749 Franco-Nevada Corporation ★ 119 TSX / NYSE: FNV Mineral Resources and Mineral Reserves

M I N E R A L R E S O U R C E S A N D M I N E R A L R E S E R V E S Silver Mineral Resources – Inclusive of Mineral Reserves Measured (M) Indicated (I) (M)+(I) Silver Inferred Mineral Resources Notes Tonnes 000s Grade g/t Contained 000 oz Tonnes 000s Grade g/t Contained 000 oz Contained 000 oz Tonnes 000s Grade g/t Contained 000 oz Candelaria 4,82 806,007 1.88 48,765 563,841 2.09 37,837 86,602 216,677 0.91 6,314 Antapaccay 83 316,000 1.44 14,648 868,000 1.92 53,682 68,330 102,000 1.05 3,436 Antamina 1,84,85 366,200 9.97 117,342 532,900 12.12 207,644 324,713 1,186,000 11.30 429,625 Condestable 86 40,200 4.18 5,402 43,300 3.15 4,385 9,799 12,900 2.29 950 Cerro Moro 1,87 600 352.51 6,800 1,300 303.86 12,700 19,500 700 220.00 4,900 Salares Norte 1,88 — — — 21,211 65.45 44,636 44,636 946 17.46 531 Cascabel 89 1,576,000 1.16 58,600 1,437,000 0.71 32,700 91,300 607,000 0.56 11,000 Calcatreu 90 — — — 9,841 19.83 6,275 6,275 8,078 13.09 3,399 Fire Creek/Midas 1,2,91 2 240.00 14 172 97.99 543 557 69,472 5.98 13,348 Eskay Creek 92 28,648 89.45 82,391 23,252 32.97 24,644 107,035 924 30.36 902 Nevada North (Wildcat & Mountain View) 93 — — — 88,623 3.45 9,840 9,840 26,611 2.60 2,224 Spences Bridge (Shovelnose) 94 — — — 2,983 34.13 3,273 3,273 1,131 16.90 725 Sleeper 95 4,902 3.61 570 158,337 4.06 20,661 21,231 119,909 2.45 9,454 Total Silver Mineral Resources* 334,532 458,820 793,090 486,808 * Total excludes Cobre Panama Silver Mineral Reserves Proven Probable Proven and Probable Notes Tonnes 000s Grade g/t Contained 000 oz Tonnes 000s Grade g/t Contained 000 oz Tonnes 000s Grade g/t Contained 000 oz Candelaria 4,82 402,610 1.55 20,076 220,664 1.69 12,021 623,274 1.60 32,095 Antapaccay 83 227,000 1.10 8,028 232,000 1.30 9,697 459,000 1.20 17,725 Antamina 84,85 138,800 9.40 42,066 87,300 12.80 36,025 226,200 10.70 77,818 Condestable 86 18,800 4.82 2,913 20,700 3.50 2,329 39,500 4.13 5,245 Cerro Moro 87 500 330.00 5,700 700 237.00 5,600 1,200 276.00 11,300 Salares Norte 88 — — — 18,381 71.35 42,164 18,381 71.35 42,164 Cascabel 89 457,500 1.70 24,900 82,200 1.20 3,100 539,700 1.60 28,000 Calcatreu 90 — — — — — — — — — Fire Creek/Midas 2,91 — — — — — — — — — Eskay Creek 92 27,954 80.90 72,661 11,889 40.10 15,308 39,843 68.70 87,969 Nevada North (Wildcat & Mountain View) 93 — — — — — — — — — Spences Bridge (Shovelnose) 94 — — — — — — — — — Sleeper 95 — — — — — — — — — Total Silver Mineral Reserves* 176,344 126,244 302,315 * Total excludes Cobre Panama PGM Mineral Resources – Inclusive of Mineral Reserves Measured (M) Indicated (I) (M)+(I) PGM Inferred Mineral Resources Notes Tonnes 000s Grade g/t Contained 000 oz Tonnes 000s Grade g/t Contained 000 oz Contained 000 oz Tonnes 000s Grade g/t Contained 000 oz Stillwater 96 44,500 15.20 21,700 49,100 14.20 22,400 44,100 113,800 11.90 43,700 Sudbury 97 not available not available not available Eagle's Nest 98 4,727 5.19 789 4,288 4.48 618 1,408 6,750 4.35 943 Marathon (Sally) 99 — — — 24,801 0.62 494 494 14,019 0.48 218 Pandora 100 22,195 4.81 3,415 147,317 4.60 21,707 25,122 21,220 4.72 3,171 Total PGM Mineral Resources 25,903 45,219 71,123 48,032 PGM Mineral Reserves Proven Probable Proven and Probable Notes Tonnes 000s Grade g/t Contained 000 oz Tonnes 000s Grade g/t Contained 000 oz Tonnes 000s Grade g/t Contained 000 oz Stillwater 96 10,900 13.50 4,800 49,500 13.60 21,500 60,400 13.50 26,300 Sudbury 97 not available not available not available Eagle's Nest 98 — — — — — — — — — Marathon (Sally) 99 — — — — — — — — — Pandora 100 2,195 4.20 244 19,756 4.08 2,683 21,951 4.09 2,927 Total PGM Mineral Reserves 5,044 24,183 29,227 Copper Mineral Resources – Inclusive of Mineral Reserves Measured (M) Indicated (I) (M)+(I) Copper Inferred Mineral Resources Notes Tonnes 000s Grade % Contained Mlbs Tonnes 000s Grade % Contained Mlbs Contained Mlbs Tonnes 000s Grade % Contained Mlbs Sossego 1,101 173,100 0.75 2,877 235,700 0.75 3,897 6,792 23,000 0.80 406 Cascabel (Alpala) 102 1,576,00 0.43 14,771 2,159,000 0.26 12,566 27,337 853,000 0.23 4,409 NuevaUnión (Relincho) 1,103 895,400 0.29 5,657 1,440,400 0.33 10,411 16,068 724,700 0.36 5,752 Taca Taca 104 421,500 0.60 5,606 1,781,800 0.39 15,229 20,835 716,900 0.31 4,863 Caserones 105 390,547 0.34 2,961 1,111,318 0.26 6,473 9,434 186,215 0.22 908 Vizcachitas 106 273,000 0.43 2,605 1,268,000 0.37 10,416 13,021 1,823,000 0.34 13,747 Copper World Project/East Pit 107 888,000 0.43 8,418 317,000 0.38 2,656 11,157 275,000 0.32 1,940 Robinson 108 317,942 0.47 3,261 40,173 0.34 305 3,566 11,942 0.38 100 Total Copper Mineral Resources 46,156 61,953 108,210 32,125 TSX / NYSE: FNV 120 ★ Franco-Nevada Corporation Mineral Resources and Mineral Reserves

M I N E R A L R E S O U R C E S A N D M I N E R A L R E S E R V E S Copper Mineral Reserves Proven Probable Proven and Probable Notes Tonnes 000s Grade % Contained Mlbs Tonnes 000s Grade % Contained Mlbs Tonnes 000s Grade % Contained Mlbs Sossego 101 7,600 0.84 141 78,600 0.55 953 86,200 0.58 1,102 Cascabel (Alpala) 102 457,500 0.63 6,393 82,200 0.36 661 539,700 0.60 7,055 NuevaUnión (Relincho) 103 576,400 0.34 4,320 977,400 0.36 7,757 1,553,800 0.35 12,078 Taca Taca 104 408,300 0.59 5,295 1,350,200 0.39 11,757 1,758,500 0.44 17,052 Caserones 105 352,876 0.35 2,696 533,485 0.28 3,294 886,361 0.31 5,990 Vizcachitas 106 302,247 0.41 2,714 917,685 0.34 6,908 1,219,932 0.36 9,623 Copper World Project/East Pit 107 319,000 0.54 3,798 66,000 0.52 757 385,000 0.54 4,583 Robinson 108 110,513 0.42 1,025 8,860 0.28 54 119,374 0.41 1,079 Total Copper Mineral Reserves 26,382 32,141 58,562 Nickel Mineral Resources – Inclusive of Mineral Reserves Measured (M) Indicated (I) (M)+(I) Nickel Inferred Mineral Resources Notes Tonnes 000s Grade % Contained Mlbs Tonnes 000s Grade % Contained Mlbs Contained Mlbs Tonnes 000s Grade % Contained Mlbs Falcondo 109 40,500 1.42 1,268 31,100 1.53 1,049 2,320 4,900 1.40 151 Eagle's Nest 110 4,727 2.24 234 4,288 1.49 141 375 6,750 1.67 249 Crawford 111 1,097,100 0.24 5,904 1,464,700 0.23 7,402 13,306 1,693,200 0.22 8,215 Mt Keith 112 133,000 0.54 1,583 67,000 0.52 768 2,351 24,000 0.52 275 Total Nickel Mineral Resources 8,989 9,360 18,352 8,891 Nickel Mineral Reserves Proven Probable Proven and Probable Notes Tonnes 000s Grade % Contained 000 oz Tonnes 000s Grade % Contained 000 oz Tonnes 000s Grade % Contained 000 oz Falcondo 109 44,900 1.28 1,267 26,300 1.36 789 71,200 1.31 2,056 Eagle's Nest 110 — — — — — — — — — Crawford 111 994,000 0.24 5,172 721,000 0.20 3,183 1,715,000 0.22 8,356 Mt Keith 112 71,000 0.58 908 4,000 0.56 49 75,000 0.58 957 Total Nickel Mineral Reserves 7,347 4,021 11,369 Chromite Mineral Resources – Inclusive of Mineral Reserves Measured (M) Indicated (I) Chromite Inferred Mineral Resources Notes Tonnes 000s Grade % Cr203 Tonnes 000s Grade % Cr203 Tonnes 000s Grade % Cr203 Ring of Fire* 113 140,190 32.5 52,573 29.8 54,581 30.8 Total Chromite Mineral Resources 140,190 52,573 54,581 Chromite Mineral Reserves Proven Probable Proven and Probable Notes Tonnes 000s Grade % Cr203 Tonnes 000s Grade % Cr203 Tonnes 000s Grade % Cr203 Ring of Fire 113 — — — — — — Total Chromite Mineral Reserves* — — — Iron Ore Mineral Resources – Inclusive of Mineral Reserves Measured (M) Indicated (I) Iron Ore Inferred Mineral Resources Notes Tonnes 000s Grade % Fe Tonnes 000s Grade % Fe Tonnes 000s Grade % Fe Vale (Northern and Southeastern System) 1,114 7,397,200 54.0 9,412,600 54.9 3,877,400 43.1 LIORC 1,115,116 826,000 39.4 1,105,000 38.6 811,000 38.0 Total Iron Ore Mineral Resources 8,223,200 10,517,600 4,688,400 Iron Ore Mineral Reserves Proven Probable Proven and Probable Notes Tonnes 000s Grade % Fe Tonnes 000s Grade % Fe Tonnes 000s Grade % Fe Vale (Northern and Southeastern System) 114 3,124,100 60.6 5,410,000 60.6 8,534,100 60.6 LIORC 115,116 675,000 39.0 401,000 38.0 1,077,000 38.0 Total Iron Ore Mineral Reserves 3,799,100 5,811,000 9,611,100 * No Mineral Reserve estimate has been reported for the Ring of Fire Franco-Nevada Corporation ★ 121 TSX / NYSE: FNV Mineral Resources and Mineral Reserves

C O B R E P A N A M A E X C L U S I O N Mineral Resources - Inclusive of Mineral Reserves Grade Contained Metal Category Tonnes 000s Au g/t Ag g/t Au 000 oz Ag 000 oz Measured 129,100 0.14 1.63 581 6,766 Indicated 3,255,300 0.06 1.33 6,322 138,695 M&I 3,384,400 0.06 1.34 6,903 145,460 Inferred 1,087,300 0.04 1.09 1,291 37,903 Mineral Reserves Grade Contained Metal Category Tonnes 000s Au g/t Ag g/t Au 000 oz Ag 000 oz Proven 126,100 0.14 1.59 568 6,446 Probable 2,717,500 0.07 1.36 6,080 119,042 Total 2,843,600 0.07 1.37 6,648 125,499 • Source: First Quantum Minerals Ltd.'s Annual Information Form dated March 28, 2023 • The mine is currently in a phase of P&SM. Please refer to the “COBRE PANAMA” section on page 39 of this Asset Handbook. Due to the status of Cobre Panama, Mineral Resources and Mineral Reserves are being reported separately and are not included in the comprehensive Mineral Resources and Mineral Reserves tables above • Mineral Resources and Mineral Reserves are estimated using 2014 CIM Definition Standards • Mineral Resources are reported inclusive of Mineral Reserves • Stockpiles have been added into the Mineral Resources and Mineral Reserves • Rows and columns may not add up due to rounding TSX / NYSE: FNV 122 ★ Franco-Nevada Corporation Mineral Resources and Mineral Reserves

N O T E S A N D S O U R C E S 1 Mineral Resources reported by operator exclusive of Mineral Reserves. Franco-Nevada’s Qualified Person determined the inclusive Mineral Resources by adding the exclusive Measured and Indicated Mineral Resources to the Proven and Probable Reserves 2 Mineral Resources and Mineral Reserves are reported by the operator in non-metric units. Franco-Nevada’s Qualified Person calculated the metric conversion using 1 opt = 34.286 g/t, 1 short ton = 0.9018 metric tonnes, 1 oz = 31.1035 g 3 Lundin Mining Corporation; News Release, February 8, 2024 4 The stream agreement applies to 100% of the property, but only with respect to the ownership interest of Lundin Mining Corporation which indirectly owns 80% of the Candelaria Copper Mining Complex 5 Glencore plc; Resources & Reserves as at December 31, 2023 6 Southern Peaks Mining LP; Mineral Reserves: Email to Franco-Nevada (Barbados) Corporation, March 11, 2023, containing reserve declaration. Mineral Resources: Letter to Franco-Nevada (Barbados) Corporation, March 8, 2023, containing global, in situ, resource estimate 7 Vale S.A.; Form 20-F as filed with the Securities and Exchange Commission on April 12, 2023. Details of Vale’s Participating Debentures are available on Vale’s website 8 Pan American Silver Corporation; News Release, August 24, 2023 & Corporate Website 9 Gold Fields Limited; Mineral Resources and Mineral Reserves Supplement to the Integrated Annual Report, 2022 10 SolGold Plc.; News Release, February 16, 2024 11 G Mining Ventures Corp.; Corporate Presentation, February 2024 12 Hochschild Mining PLC; Annual Report & Accounts, April 28, 2023 13 First Quantum Minerals Ltd.; Annual Information Form, March 28, 2023 14 OZ Minerals Limited; ASX Release, December 21, 2022 15 Patagonia Gold Corp.; MD&A, November 29, 2023 16 Coro Mining Corporation; San Jorge Project NI 43-101 Technical Report, March 1, 2012 17 Barrick Gold Corporation; Press Release, February 8, 2024 18 Tiernan Gold Corp.; Corporate Presentation, August 2023 19 Coeur Mining, Inc.; News Release, February 20, 2024 20 Barrick Gold Corporation; Press Release, February 8, 2024. Carlin Trend includes Goldstrike, Gold Quarry and South Arturo as well as other properties where Franco-Nevada has no royalties or stream interests 21 SSR Mining Inc.; Mineral Reserve and Resource Tables as of December 31, 2023 22 Kinross Gold Corporation; News Release, February 14, 2024 23 Equinox Gold Corp.; Annual Information Form, February 22, 2024 24 Equinox Gold Corp.; Annual Information Form, February 22, 2024 25 Hecla Mining Company; News Release, February 14, 2024 26 Hecla Mining Company; News Release, February 14, 2024 27 Perpetua Resources Corp., Annual Report, April 6, 2023 28 Gold Bull Resources Corp.; News Release, July 31, 2023 29 KGHM Polska Mied ́ z S.A.; Mineral Resources and Reserves Report, December 31, 2014 30 Integra Resources Corp.; Corporate Presentation, January 2024 31 Paramount Gold Nevada; Sleeper Gold-Silver Project SK 1300 Report, August 31, 2023 32 Agnico Eagle Mines Limited; News Release, February 15, 2024 33 KGHM does not provide updated Mineral Resource and Mineral Reserve estimates. As such, Franco-Nevada has chosen not to display the historical figure moving forward 34 Barrick Gold Corporation; Press Release, February 8, 2024 35 Newmont Corporation; News Release, February 22, 2024 36 Agnico Eagle Mines Limited; News Release, February 15, 2024 37 Victoria Gold Corp.; Eagle Gold Mine NI 43-101 Technical Report, April 10, 2023 38 Newmont Corporation; News Release, February 22, 2024 39 Pan American Silver Corp.; Annual Information Form, February 22, 2023, effective date R&R June 30, 2022 40 Pan American Silver Corp.; News Release, August 24, 2023 41 Agnico Eagle Mines Limited; News Release, February 15, 2024 42 Alamos Gold Inc.; News Release, February 20, 2024 43 Agnico Eagle Mines Limited; News Release, February 15, 2024 44 Agnico Eagle Mines Limited; News Release, February 15, 2024 45 Agnico Eagle Mines Limited; News Release, February 15, 2024 46 Argonaut Gold Inc.; News Release, March 30, 2023 47 Equinox Gold Corp.; Annual Information Form, February 22, 2024 48 Calibre Mining Corp.; Corporate Presentation, February 2024 & Marathon Gold Corporation; Valentine Gold Project NI 43-101 Techncial Report, November 30, 2022 All Mineral Resources and Mineral Reserves have been calculated in accordance with CIM or Acceptable Foreign Codes for the purposes of NI 43-101, including Regulation S-K 1300, JORC, or SAMREC guidelines Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability Unless otherwise noted, Mineral Resources were reported by the operator inclusive of Mineral Reserves Contained metal does not take into account recovery losses Franco-Nevada’s royalties or stream interests may not cover the operator’s entire property or all estimated Mineral Resources and Mineral Reserves or a combination of both The grade of platinum group elements has been reported by the operators as either the sum of the individual platinum group elements grades or the individual grades. In the cases where individual platinum group element grades have been reported, Franco-Nevada’s Qualified Person has calculated the sum of the platinum group element grades for presentation purposes Mineral Resources and Mineral Reserves based on publicly disclosed information available as of March 8, 2024 The MRMR statement might have excluded depletion prior to this year’s reporting Rows and columns may not add up due to rounding Inferred Resources are in addition to Measured and Indicated Resources, as described in the “Cautionary Note Regarding Mineral Resource and Mineral Reserve Estimates” section on page 134. 49 Skeena Resources Limited; Eskay Creek Project NI 43-101 Technical Report, November 14, 2023 50 Evolution Mining Limited; ASX Announcement, February 14, 2024 51 Seabridge Gold Inc.; Courageous Lake NI 43-101 Technical Report, January 5, 2024 52 Fortune Bay Corp.; Corporate Presentation, January 2024 53 Agnico Eagle Mines Limited; News Release, February 16, 2023 54 Ascot Resources Ltd.; Annual Information Form, March 23 2023 55 Wallbridge Mining Company Limited; Detour-Fenelon Gold Trend Property NI 43-101 Technical Report, December 29, 2023 56 Westhaven Gold Corp.; Shovelnose Gold Property NI 43-101 Technical Report, Aug. 31, 2023 57 Red Pine Exploration Inc.; Wawa Gold Project NI 43-101 Technical Report, June 21, 2023 58 Gold Candle Ltd.; Kerr-Addison Project NI 43-101 Technical Report, Aug. 21, 2023 59 Galway Metals Inc.; Clarence Stream Project NI 43-101 Technical Report, June 8, 2022 60 Regis Resources Limited; ASX Announcement, June 20, 2023 61 Wiluna Mining Corporation Limited; ASX Announcement, February 16, 2024 62 Northern Star Resources Limited; ASX Announcement, May 4, 2023 63 Northern Star Resources Limited; ASX Announcement, May 4, 2023 64 St Barbara Limited; ASX Release, September 15, 2023 65 Matsa Resources Ltd.; Annual Report, October 17, 2023 for Red October and AngloGold Ashanti Limited; Mineral Resource and Ore Reserve Report as at December 31, 2022 for Butcher Well 66 Catalyst Metals Limited; Annual Report, November 10, 2023 67 Norton Gold Fields Limited; Corporate Website, January 11, 2024 68 Ramelius Resources Limited; ASX Release, September 14, 2023 69 Ramelius Resources Limited; ASX Release, September 14, 2023 70 Spartan Resources Limited; ASX Announcement, January 25, 2024 71 Harmony Gold Mining Company Limited; Mineral Resources and Mineral Reserves Report, June 30, 2023 72 Endeavour Mining Corp.; News Release, March 9, 2023 73 Kinross Gold Corporation; News Release, February 15, 2023 74 Newmont Corporation; News Release, February 22, 2024 75 Endeavour Mining Corp.; Annual Information Form, March 31, 2021 76 Perseus Mining Limited; News Release, August 24, 2023 77 Ariana Resources plc; News Release, February 1, 2022 78 Fortuna Silver Mines Inc.; Seguela Gold Mine NI 43-101 Technical Report, December 31, 2023 79 Eldorado Gold Corporation; News Release, December 13, 2023 80 Alamos Gold Inc.; News Release, February 20, 2024 81 Perseus Mining Limited; News Release, August 24, 2023 82 Lundin Mining Corporation; News Release, February 8, 2024 83 Glencore plc; Resources & Reserves as at December 31, 2023 84 Teck Resources Limited; Annual Information Form, February 22, 2024 85 The stream agreement applies to 100% of the property, but only with respect to the ownership interest of Teck Resources Limited which indirectly owns a 22.5% interest in Compañía Minera Antamina S.A. 86 Southern Peaks Mining LP; Mineral Reserves: Email to Franco-Nevada (Barbados) Corporation, March 11, 2023, containing reserve declaration. Mineral Resources: Letter to Franco-Nevada (Barbados) Corporation, March 8, 2023, containing global, in situ, resource estimate 87 Pan American Silver Corporation; News Release, August 24, 2023 & Corporate Website 88 Gold Fields Limited; Mineral Resources and Mineral Reserves Supplement to the Integrated Annual Report, 2022 89 SolGold Plc.; Press Release, February 16, 2024. 90 Patagonia Gold Corp.; MD&A, November 29, 2023 91 Hecla Mining Company; News Release, February 14, 2024 92 Skeena Resources Limited; Eskay Creek Project NI 43-101 Technical Report, November 14, 2023 93 Integra Resources Corp.; Corporate Presentation, January 2024 94 Westhaven Gold Corp.; Shovelnose Gold Property NI 43-101 Technical Report, August 31, 2023 95 Paramount Gold Nevada; Sleeper Gold-Silver Project SK 1300 Report, August 31, 2023 96 Sibanye Stillwater Limited; JSE Market Release, February 26, 2024 97 KGHM does not provide updated Mineral Resource and Mineral Reserve estimates. As such, Franco-Nevada has chosen not to display the historical figure moving forward 98 Ring of Fire Metals Pty Ltd.; Eagle’s Nest Project NI 43-101 Technical Report, January 24, 2024 99 Generation Mining Limited; Marathon Palladium & Copper Project NI 43-101 Technical Report, March 31, 2023 Franco-Nevada Corporation ★ 123 TSX / NYSE: FNV Mineral Resources and Mineral Reserves

100 Lonmin plc; Mineral Resource and Mineral Reserve Statement 2017 101 Vale S.A.; Form 20-F as filed with the Securities and Exchange Commission on April 12, 2023. Details of Vale’s Participating Debentures are available on Vale’s website 102 SolGold Plc.; Annual Information Form, September 28, 2023 103 Teck Resources Limited; Annual Information Form, February 22, 2024 104 First Quantum Minerals Ltd.; Annual Information Form, March 28, 2023 105 Lundin Mining Corporation; News Release, February 8, 2024 106 Los Andes Copper Ltd.; Corporate Presentation, February 2024 107 Hudbay Minerals Inc.; News Release, September 8, 2023 108 KGHM Polska Miedź S.A.; Mineral Resources and Reserves Report, December 31, 2014 109 Glencore plc; Resources & Reserves as at December 31, 2014 110 Ring of Fire Metals Pty Ltd.; Eagle’s Nest Project NI 43-101 Technical Report, January 24, 2024 111 Canada Nickel Company, Inc.; Crawford Nickel Sulfide Project NI 43-101 Technical Report, October 1, 2023 112 BHP Group Limited; Annual Report, August 22, 2023 113 Noront Resources Ltd.; Black Thor, Black Label and Big Daddy NI 43-101 Technical Report, July 27, 2015 & Eagle’s Nest Project NI 43-101 Technical Report, October 19, 2012 for Blackbird 114 Vale S.A.; Form 20-F as filed with the Securities and Exchange Commission on April 12, 2023. Details of Vale’s Participating Debentures are available on Vale’s website 115 Labrador Iron Ore Royalty Corporation; Annual Information Form, March 7, 2023 116 Franco-Nevada holds a 9.9% equity interest in Labrador Iron Ore Royalty Corporation (“LIORC”). LIORC, directly and through its wholly-owned subsidiary, owns a 15.1% equity interest in Iron Ore Company of Canada and receives a 7% gross overriding royalty on the operation and also receives a C$0.10/t commission on sales of iron ore TSX / NYSE: FNV 124 ★ Franco-Nevada Corporation Mineral Resources and Mineral Reserves

A d d i t i o nal Infor mation

A C R E A G E O F A S S E T S A S S E T C O U N T S Franco-Nevada’s assets are categorized by commodity and stage of development. By commodity, assets are characterized as “Precious Metals” or “Diversified”. Precious Metals includes gold, silver and PGM assets. Diversified includes iron ore, other mining and energy assets (which encompass oil, gas and natural gas liquids). “Producing” assets are those that have generated revenue from steady-state operations for Franco-Nevada or are expected to in the next year. “Advanced” assets are interests on projects which are not yet producing but where, in management’s view, the technical feasibility and commercial viability of extracting Mineral Resources are demonstrable. “Exploration” assets represent interests on projects where technical feasibility and commercial viability of extracting Mineral Resources are not demonstrable. Management uses the following criteria in its assessment of technical feasibility and commercial viability: 1. Geology: there is a known mineral deposit which contains Mineral Resources or Mineral Reserves; or the project is adjacent to a mineral deposit that is already being mined or developed and there is sufficient geologic certainty of converting the deposit into Mineral Resources or Mineral Reserves. 2. Accessibility and authorization: there are no significant unresolved issues impacting the accessibility and authorization to develop or mine the mineral deposit, and social, environmental and governmental permits and approvals to develop or mine the mineral deposit appear obtainable. For accounting purposes, the number of assets has been counted in different manners depending on the category. Royalties on a producing or advanced property are generally counted as a single asset even if Franco-Nevada has multiple different royalties on the property, such as at the Goldstrike complex. Streams covering a group of mines in close proximity and operated by a common operator, such as the Sudbury streams, have also been counted as one asset. However, royalties and streams on producing properties that have significant co-products have been counted twice, such as the Robinson royalties for gold and copper or the Sudbury streams for gold and PGM. Exploration royalties are simply counted by the number of royalty contracts and no effort has been made to consolidate royalties on the same property. Franco-Nevada’s energy interests are subdivided into Producing Assets, which are assets that are currently producing oil or natural gas, or Exploration Assets, which are undeveloped assets that are not producing oil or natural gas. Franco-Nevada’s energy interests consist of a variety of royalty interests and working interests which are derived from a large number of underlying leases, contractual agreements and mineral title covering land positions primarily in western Canada and Oklahoma, North Dakota, Pennsylvania, Louisiana and Texas in the United States. For accounting purposes, these leases, contracts and mineral title have been grouped into distinct land areas and tabulated as individual assets. In many cases, Franco-Nevada owns multiple royalties or working interests that pertain to the same land area, and in these circumstances, the interests are counted as a single asset. As of April 2, 2024, Franco-Nevada estimates that it holds 238 Precious Metals assets and 192 Diversified assets for a total of 430 assets. Franco-Nevada Asset Counts at April 2, 2024 Precious Metals Diversified Total Producing 48 70 1 118 Advanced 32 9 2 41 Exploration 158 113 3 271 Total 238 192 430 1 14 Mining Assets / 56 Energy Assets 2 9 Mining Assets 3 86 Mining Assets / 27 Energy Assets The following is a tabulation of the acreage of Precious Metals and Diversified lands subject to Franco Nevada’s royalty, stream or other interests as at April 2, 2024. Acreage amounts are approximate or estimated and are compiled from information contained in asset agreements and updated when possible using various sources including government recording offices, operator information such as technical reports, presentations and other sources. Acreage has been converted into standard measure by Franco-Nevada. Franco-Nevada Acreage Tabulation (1) Producing Advanced Exploration Total Precious Metals South America 632,755 212,904 375,095 1,220,754 Central America & Mexico 62,268 – 675 64,943 United States 88,561 35,130 195,536 319,227 Canada 135,208 211,030 840,554 1,186,792 Australia 1,428,822 261,994 736,962 2,427,778 Rest of World 1,554,309 216,209 52,863 1,823,381 Total 3,901,923 937,267 2,201,685 7,040,875 Diversified – Iron Ore & Other Mining South America 792,380 54,516 3,061,300 3,908,196 Central America & Mexico 6,605 59,552 – 66,157 United States 29,234 25,140 18,586 72,960 Canada 44,973 12,462 361,644 419,079 Australia Australia 173,438 49,999 951,514 1,174,951 Rest of World – – 265,842 265,842 Total 1,046,630 201,669 4,658,886 5,907,185 Diversified – Energy (2) United States 2,592,936 – 53,994 2,646,930 Canada 615,043 – 313,552 928,595 Total 3,207,979 – 367,546 3,575,525 Total Estimated Acreage 16,523,585 Total km 2 66,869 (1) Represents management’s best available information as at April 2, 2024. Cobre Panama, currently on preservation and safe management, is included in the above calculations and accounts for 32,111 acres (129.95 km 2 ) (2) Gross Acreage TSX / NYSE: FNV 126 ★ Franco-Nevada Corporation Additional Information

M I N E L I F E I N D E X Franco-Nevada’s asset portfolio is comprised of a large variety of properties and operations with a range of projected production profiles. The chart (opposite) provides an estimated mine life index for some of the producing and advanced assets with published Mineral Resource and Mineral Reserve estimates. For each asset, management has estimated a mine life index by dividing the Proven and Probable Mineral Reserves as well as the Measured and Indicated Mineral Resources (inclusive of Mineral Reserves) by management’s best estimate of the average annual forward looking production. Franco-Nevada has not included any Inferred Mineral Resources in the analysis. This metric is to provide investors and analysts with an indication of the potential for the assets in which Franco - Nevada has interests and should not be viewed as a definitive mine life estimate. In an effort to provide a more accurate picture for the mine life index of the overall portfolio, Franco-Nevada has divided its total M&I Royalty Ounces (inclusive of Mineral Reserves) by the midpoint of its 2024 Precious Metal and Diversified Mining production guidance. The average mine life index of the mining portfolio using this methodology is approximately 34 years. For our energy assets, Franco-Nevada receives a variety of third-party reports estimating our reserves and resources for oil, gas and natural gas liquids. We have calculated the asset lives of our assets by dividing the total reserves for each asset by the prior year annual production volume. The estimates are based on Proven and Probable reserves for our Canadian assets and Proven, Probable and Possible reserves for our U.S. assets (excluding our venture with Continental Resources). On that basis our Canadian assets have an estimated aggregate asset life of approximately 22 years and our U.S. assets have an estimated aggregate asset life of 23 years. 1 Mineral Resources and Mineral Reserves used in the Mine Life Index calculation are based on publicly disclosed information as of March 8, 2024 2 Mineral Resources and Mineral Reserves used for Carlin Trend in the Mine Life Index reflect Franco-Nevada management’s best estimate of Goldstrike, Gold Quarry and South Arturo only 3 Cobre Panama, currently on preservation and safe management, is not included in the above calculations 4 Mine life as disclosed by Vale S.A in their latest 20-F and exhibits. Mine life represents longest disclosed mine life 5 Mine life as disclosed by LIORC in their most recent annual report, based on Mineral Resources and Mineral Reserves only Mine Life Based on P&P 1 Based on M&I 1 (inclusive of P&P) Precious Metals – South America Candelaria Antapaccay Antamina Cerro Moro Mara Rosa Salares Norte Precious Metals – Central America and Mexico 3 Guadalupe-Palmarejo Precious Metals – United States Stillwater Carlin Trend 2 Marigold Bald Mountain Mesquite Castle Mountain Stibnite Gold Precious Metals – Canada Detour Lake Hemlo Brucejack Kirkland Lake Dublin Gulch (Eagle) Musselwhite Timmins West Canadian Malartic Island Gold Greenstone Magino Valentine Gold Precious Metals – Rest of World Sabodala-Massawa Complex Tasiast Séguéla Subika (Ahafo) Duketon Edikan Diversified Vale (Northern and Southeastern System) 4 LIORC 5 Years 5 – 15 20 10 Franco-Nevada Corporation ★ 127 TSX / NYSE: FNV Additional Information

B O A R D O F D I R E C T O R S David Harquail David Harquail is Chair of the Board. Mr. Harquail was the founding CEO of the Corporation. Prior to his appointment as Chair in May 2020, Mr. Harquail served as the Corporation’s CEO for more than 13 years since its initial public offering in 2007. He serves as a director of the Bank of Montreal, as a governor of Laurentian University in Sudbury, as a director of the Prospectors & Developers Association of Canada and is a past director and former Chair (2017-2020) of the World Gold Council. He has also held senior executive roles and served as a director of numerous public mining companies and has been actively involved in industry organizations. Mr. Harquail holds a B.A.Sc. in Geological Engineering from the University of Toronto, an MBA from McGill University and is a registered Professional Engineer in Ontario. He is also a major benefactor of the School of Earth Sciences and its Mineral Exploration Research Centre (MERC) at Laurentian University as well as the Centre for Neuromodulation at Sunnybrook Health Sciences in Toronto . Paul Brink Paul Brink is President & Chief Executive Officer and a director of Franco-Nevada. Prior to his appointment as CEO, Mr. Brink served as President & Chief Operating Officer of Franco-Nevada from May 2018 to May 2020. He has been with Franco-Nevada since its initial public offering in 2007 and successfully led its business development activities as SVP , Business Development from 2008 until his promotion to President & Chief Operating Officer in 2018. Mr. Brink is active with a number of not-for-profit organizations. He previously had roles in corporate development at Newmont, investment banking at BMO Nesbitt Burns and project financing at UBS. Mr. Brink holds a Bachelor’s degree in Mechanical Engineering from the University of Witwatersrand and a Master’s degree in Management Studies from Oxford University. Tom Albanese Tom Albanese is a director of Franco-Nevada. He served as CEO of Vedanta Resources plc (2014 to 2017), CEO of Vedanta Limited (2014 to 2017) and was CEO of Rio Tinto PLC and Rio Tinto Limited (2007 to 2013). Mr. Albanese is also a director of CoTec Holdings Corp. and is a director and Chair of the Committee of Independent Directors of Nevada Copper Corp. He previously served on the boards of Vedanta Resources plc, Vedanta Limited, Rio Tinto PLC, Rio Tinto Limited, Ivanhoe Mines Limited, Palabora Mining Company and Turquoise Hill Resources Limited. Mr. Albanese holds a Master’s of Science degree in Mining Engineering and a Bachelor of Science degree in Mineral Economics both from the University of Alaska Fairbanks . Hugo Dryland1 Hugo Dryland is a first-time nominee to the Board of Franco-Nevada and is currently a Global Partner of Rothschild & Co, Chairman of the group’s Global Advisory Metals & Mining Sector and Non-Executive Chairman of the group’s Global Advisory business in Canada. Mr. Dryland joined Rothschild & Co in 1986 and has extensive experience in the mining, minerals, oil and gas, energy, utilities and infrastructure sectors, working on transactions spanning the globe including significant Latin American and emerging markets’ experience. Throughout his career, Mr. Dryland has been actively involved in the leadership, oversight and execution of M&A mandates, financing advisory transactions, strategic advisory work and assignments involving the resolution of major investment disputes in the mining and metals sectors. Mr. Dryland previously served on the boards of RCF Acquisition Corp. (2023), Antofagasta plc (2011-2016) and Antofagasta Minerals SA (2011-2016). Mr. Dryland holds Masters’ degrees in Business Administration and in Comparative Law from the University of Warwick and George Washington University, respectively . Derek Evans Derek Evans is President & CEO of MEG Energy Corp. and is a director of Franco- Nevada. Mr. Evans has announced that he will be retiring from MEG Energy Corp. effective May 1, 2024. He served as President and CEO and a director of Pengrowth Energy Corporation from May 2009 until March 2018. Mr. Evans has over 40 years of experience in a variety of operational and senior executive positions in the oil and gas business in Western Canada. Mr. Evans is also active in not-for-profit organizations and was a board member of MaRS (an innovation hub) from 2011 until 2023. Mr. Evans holds a Bachelor of Science degree in Mining Engineering from Queen’s University and is a registered Professional Engineer in Alberta. Mr. Evans is also a member of the Institute of Corporate Directors. 1 Mr. Dryland is standing for election as a first-time nominee at the Annual and Special Meeting of Shareholders to be held on May 1, 2024 TSX / NYSE: FNV 128 ★ Franco-Nevada Corporation Additional Information

Dr. Catharine Farrow Catharine Farrow is a director of Franco-Nevada. She is a licensed professional geoscientist (P.Geo.) with Professional Geoscientists Ontario (PGO) and has more than 30 years of mining industry experience. She also serves as a director of Centamin plc and of Eldorado Gold Corporation and is lead director of Aclara Resources Inc. She is also active in the mining industry in both private companies and academia. From 2012 to 2017, she was Founding CEO, Director and Co-Founder of TMAC Resources Inc. Dr. Farrow has served on the board of a number of not-for-profit and government Advisory Boards. She has been honoured as one of the 100 Global Inspirational Women in Mining (2015 and 2018) and is a past recipient of the William Harvey Gross Medal of the Geological Association of Canada (2000) and the Distinguished Alumni Award from the Acadia Alumni Association (2020). Dr. Farrow obtained her BSc (Hons) from Mount Allison University, her MSc from Acadia University and her PhD from Carleton University. She also holds the ICD.D designation. Maureen Jensen Maureen Jensen is a director of Franco-Nevada. She served as Chair and Chief Executive Officer of the Ontario Securities Commission (the “OSC”) from 2016 until April 2020 and was previously the Executive Director and Chief Administrative Officer of the OSC from 2011 to 2016. Before joining the OSC, Ms. Jensen was Senior Vice- President, Surveillance and Compliance at the Investment Industry Regulatory Organization of Canada. Ms. Jensen has held senior regulatory and business positions at the Toronto Stock Exchange and had a 20-year career in the mining industry. Ms. Jensen is Chair of Canada’s Ombudsman for Banking Services and Investments and is a Public Governor of FINRA in the United States. In 2022, Ms. Jensen was inducted into the Canadian Mining Hall of Fame. Ms. Jensen is a licensed professional geoscientist (P.Geo.) with Professional Geoscientists Ontario (PGO), holds the ICD.D and GCB.D designations, has a BSc, Doctor of Laws (Honoris Causa) and is a member of the Investment Industry Hall of Fame. Jennifer Maki Jennifer Maki is a director of Franco-Nevada. She is also a director of Baytex Energy Corp. and Pan American Silver Corp. She previously served as Chief Executive Officer of Vale Canada and Executive Director of Vale Base Metals (2014 to 2017) and previously held several other positions with Vale Base Metals, including Chief Financial Officer & Executive Vice-President and Vice-President & Treasurer. She has also served on the boards of not-for- profit organizations. Ms. Maki has a Bachelor of Commerce degree from Queen’s University and a postgraduate diploma from the Institute of Chartered Accountants, both in Ontario, Canada. She also holds the ICD.D designation. Jacques Perron Jacques Perron is a director of Franco-Nevada. Mr. Perron has over 35 years of experience in the mining industry and has extensive technical and operations experience. He currently serves as a director of Centerra Gold Inc. Previously, Mr. Perron was President and Chief Executive Officer at a number of mining companies including Pretium Resources Inc., Thompson Creek Metals Company Inc. and St Andrew Goldfields Ltd. and has held senior executive roles at a number of other mining companies prior thereto. Mr. Perron is also the Chair of the Canadian Mineral Industry Education Foundation. Mr. Perron has a Bachelor of Science degree in Mining Engineering from l’École Polytechnique de Montréal. Franco-Nevada Corporation ★ 129 TSX / NYSE: FNV Additional Information

E X E C U T I V E S Paul Brink, President & CEO Paul Brink is President & Chief Executive Officer and a director of Franco-Nevada. Prior to his appointment as CEO, Mr. Brink served as President & Chief Operating Officer of Franco-Nevada from May 2018 to May 2020. He has been with Franco-Nevada since its initial public offering in 2007 and successfully led its business development activities as SVP , Business Development from 2008 until his promotion to President & Chief Operating Officer in 2018. Mr. Brink is active with a number of not-for-profit organizations. He previously had roles in corporate development at Newmont, investment banking at BMO Nesbitt Burns and project financing at UBS. Mr. Brink holds a Bachelor’s degree in Mechanical Engineering from the University of Witwatersrand and a Master’s degree in Management Studies from Oxford University . Sandip Rana, Chief Financial Officer Sandip Rana, Chief Financial Officer, joined Franco-Nevada in April 2010. He previously served in treasurer and controller roles at old Franco-Nevada until 2002 and then acted as an international controller for Newmont. From 2003 to April 2010, Mr. Rana held financial roles at Four Seasons Hotels Limited where he last served as Vice-President Corporate Finance. Mr. Rana holds a Bachelor of Business Administration degree from the Schulich School of Business and is a Chartered Professional Accountant, CA. In February 2019, Mr. Rana was recognized as a Top Gun CFO by Brendan Wood International. Lloyd Hong, Chief Legal Officer & Corporate Secretary Lloyd Hong, Chief Legal Officer & Corporate Secretary, joined Franco-Nevada in December 2012. He previously was the Senior Vice-President, Legal Counsel and Assistant Secretary of Uranium One Inc. Prior to that, he was a partner with the Canadian law firm of Davis LLP (now DLA Piper (Canada) LLP) with a practice focused on corporate finance and mergers and acquisitions. Mr. Hong holds a Bachelor of Commerce degree from the University of Alberta and a Bachelor of Laws degree from Queen’s University. Mr. Hong is a member of The Law Society of Ontario and The Law Society of British Columbia (non-practising). Eaun Gray, Senior Vice President, Business Development Eaun Gray, Senior Vice President, Business Development, heads Franco-Nevada’s mining business development group. Mr. Gray was previously a Vice President at Rothschild & Co where he advised on mergers and acquisitions and debt and stream transactions. Prior to that, Mr. Gray worked for CIBC in investment and corporate banking. Mr. Gray completed a Master of Business Administration degree at the Tuck School at Dartmouth College (Edward Tuck Scholar), is a CFA Charterholder and received a Bachelor of Commerce from Queen’s University (First Class Honours). Jason O’Connell, Senior Vice President, Diversified Jason O’Connell, Senior Vice President, Diversified, has been with Franco-Nevada since 2008. His role includes leading business development activities for diversified mining and energy opportunities and managing the Corporation’s Energy portfolio. Mr. O’Connell led the growth of the Corporation’s U.S. Energy portfolio and, prior to that, held roles in the business development group and managed investor relations. Prior to joining Franco-Nevada, he worked in mining equity research with the Bank of Montreal. Mr. O’Connell holds a Master of Business Administration degree from Dalhousie University and Bachelor of Science degree with honours in Geology from Acadia University. TSX / NYSE: FNV 130 ★ Franco-Nevada Corporation Additional Information

C O R P O R A T E O R G A N I Z A T I O N Franco-Nevada Corporation (Canada) Franco-Nevada Australia Pty Ltd (Australia) Franco-Nevada U.S. Corporation (Delaware) Franco-Nevada (Barbados) Corporation (Barbados) Franco-Nevada Delaware LLC (Delaware) 100% 100% 100% 100% Chart above depicts significant subsidiaries and/or subsidiaries in jurisdictions in which Franco-Nevada maintains an office. Intermediate holding companies have been omitted. Franco-Nevada Corporation ★ 131 TSX / NYSE: FNV Additional Information

N O N - G A A P F I N A N C I A L M E A S U R E S Adjusted EBITDA and Adjusted EBITDA per Share Adjusted EBITDA and Adjusted EBITDA per share are non-GAAP financial measures, which is defined by Franco-Nevada by excluding the following from net income (loss) and earnings (loss) per share (“EPS”): • Income tax expense/recovery; • Finance expenses; • Finance income; • Depletion and depreciation; • Impairment losses and reversals related to royalty, stream and working interests; • Impairment of investments; • Gains/losses on sale of royalty, stream and working interests; • Gains/losses on investments; • Foreign exchange gains/losses and other income/expenses; and • Unusual non-recurring items. Management uses Adjusted EBITDA and Adjusted EBITDA per share to evaluate the underlying operating performance of Franco-Nevada as a whole for the reporting periods presented, to assist with the planning and forecasting of future operating results, and to supplement information in its financial statements. Management believes that in addition to measures prepared in accordance with IFRS Accounting Standards such as net income and EPS, our investors and analysts use Adjusted EBITDA and Adjusted EBITDA per share to evaluate the results of the underlying business of Franco-Nevada, particularly since the excluded items are typically not included in our guidance, with the exception of depletion and depreciation expense. While the adjustments to net income and EPS in these measures include items that are both recurring and non-recurring, management believes that Adjusted EBITDA and Adjusted EBITDA per share are useful measures of Franco-Nevada’s performance because they adjust for items which may not relate to or have a disproportionate effect on the period in which they are recognized, impact the comparability of our core operating results from period to period, are not always reflective of the underlying operating performance of our business and/or are not necessarily indicative of future operating results. Adjusted EBITDA and Adjusted EBITDA per share are only intended to provide additional information to investors and analysts and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS Accounting Standards. They do not have any standardized meaning under IFRS Accounting Standards and may not be comparable to similar measures presented by other issuers. Adjusted EBITDA Margin Adjusted EBITDA Margin is a non-GAAP ratio which is defined by Franco- Nevada as Adjusted EBITDA divided by revenue. Franco-Nevada uses Adjusted EBITDA Margin in its annual incentive compensation process to evaluate management’s performance in increasing revenue and containing costs. Management believes that in addition to measures prepared in accordance with IFRS Accounting Standards, our investors and analysts use Adjusted EBITDA Margin to evaluate the Company’s ability to contain costs relative to revenue. Adjusted EBITDA Margin is intended to provide additional information to investors and analysts and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS Accounting Standards. It does not have any standardized meaning under IFRS Accounting Standards and may not be comparable to similar measures presented by other issuers. Reconciliation of Net Income to Adjusted EBITDA: (expressed in millions, except per share amounts) For the year ended December 31, 2023 2022 Net (loss) income $ (466.4) $ 700.6 Income tax expense 102.2 133.1 Finance expenses 2.9 3.2 Finance income (52.3) (12.6) Depletion and depreciation 273.1 286.2 Impairment losses 1,173.3 – Gain on sale of royalty interest (3.7) – Foreign exchange gain and other income (14.4) (3.6) Adjusted EBITDA $ 1,014.7 $ 1,106.9 Basic weighted average shares outstanding 192.0 191.5 Basic (loss) earnings per share $ (2.43) $ 3.66 Income tax expense 0.53 0.70 Finance expenses 0.02 0.02 Finance income (0.27) (0.07) Depletion and depreciation 1.42 1.49 Impairment losses 6.11 – Gain on sale of royalty interest (0.02) – Foreign exchange gain and other income (0.08) (0.02) Adjusted EBITDA per share $ 5.28 $ 5.78 Calculation of Adjusted EBITDA Margin: (expressed in millions, except Adjusted EBITDA Margin) For the year ended December 31, 2023 2022 Adjusted EBITDA $ 1,014.7 $ 1,106.9 Revenue 1,219.0 1,315.7 Adjusted EBITDA Margin 83.2 % 84.1 % TSX / NYSE: FNV 132 ★ Franco-Nevada Corporation Additional Information

Adjusted Net Income and Adjusted Net Income per Share Adjusted Net Income and Adjusted Net Income per share are non-GAAP financial measures, which is defined by Franco-Nevada by excluding the following from net income (loss) and EPS: • Foreign exchange gains/losses and other income/expenses; • Impairment losses and reversals related to royalty, stream and working interests; • Impairment of investments; • Gains/losses on sale of royalty, stream and working interests; • Gains/losses on investments; • Unusual non-recurring items; and • Impact of income taxes on these items. Management uses Adjusted Net Income and Adjusted Net Income per share to evaluate the underlying operating performance of Franco-Nevada as a whole for the reporting periods presented, to assist with the planning and forecasting of future operating results, and to supplement information in its financial statements. Management believes that in addition to measures prepared in accordance with IFRS Accounting Standards such as net income and EPS, our investors and analysts use Adjusted Net Income and Adjusted Net Income per share to evaluate the results of the underlying business of Franco-Nevada, particularly since the excluded items are typically not included in our guidance. While the adjustments to net income and EPS in these measures include items that are both recurring and non-recurring, management believes that Adjusted Net Income and Adjusted Net Income per share are useful measures of Franco-Nevada’s performance because they adjust for items which may not relate to or have a disproportionate effect on the period in which they are recognized, impact the comparability of our core operating results from period to period, are not always reflective of the underlying operating performance of our business and/or are not necessarily indicative of future operating results. Adjusted Net Income and Adjusted Net Income per share are intended to provide additional information to investors and analysts and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS Accounting Standards. They do not have any standardized meaning under IFRS Accounting Standards and may not be comparable to similar measures presented by other issuers. Adjusted Net Income Margin Adjusted Net Income Margin is a non-GAAP ratio which is defined by Franco-Nevada as Adjusted Net Income divided by revenue. Franco-Nevada uses Adjusted Net Income Margin in its annual incentive compensation process to evaluate management’s performance in increasing revenue and containing costs. Management believes that in addition to measures prepared in accordance with IFRS Accounting Standards, our investors and analysts use Adjusted Net Income Margin to evaluate the Company’s ability to contain costs relative to revenue. Adjusted Net Income Margin is intended to provide additional information to investors and analysts and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS Accounting Standards. It does not have any standardized meaning under IFRS Accounting Standards and may not be comparable to similar measures presented by other issuers. Reconciliation of Net Income to Adjusted Net Income: (expressed in millions, except per share amounts) For the year ended December 31, 2023 2022 Net (loss) income $ (466.4) $ 700.6 Impairment losses 1,173.3 – Gain on sale of royalty interest (3.7) – Foreign exchange gain and other income (14.4) (3.6) Finance income related to repayment of Noront Loan – (2.2) Tax effect of adjustments (4.0) 2.8 Other tax related adjustments Change in unrecognized deductible temporary differences 1.7 – Adjusted Net Income $ 683.1 $ 697.6 Basic weighted average shares outstanding 192.0 191.5 Basic (loss) earnings per share $ (2.43) $ 3.66 Impairment losses 6.11 – Gain on sale of royalty interest (0.02) – Foreign exchange gain and other income (0.07) (0.02) Finance income related to repayment of Noront Loan – (0.01) Tax effect of adjustments (0.02) 0.01 Other tax related adjustments Change in unrecognized deductible temporary differences 0.01 – Adjusted Net Income per share $ 3.56 $ 3.64 Calculation of Adjusted Net Income Margin: (expressed in millions, except Adjusted Net Income Margin) For the year ended December 31, 2023 2022 Adjusted Net Income $ 683.1 $ 697.6 Revenue 1,219.0 1,315.7 Adjusted Net Income Margin 56.0 % 53.0 % Franco-Nevada Corporation ★ 133 TSX / NYSE: FNV Additional Information

T E C H N I C A L A N D T H I R D - P A R T Y I N F O R M A T I O N Except where otherwise stated, the disclosure in this Asset Handbook relating to properties and operations on the properties on which Franco-Nevada holds royalty, stream or other interests is based on information publicly disclosed by the owners or operators of these properties and information/data available in the public domain as at March 8, 2024 (except where stated otherwise), and none of this information has been independently verified by Franco-Nevada. Specifically, as a royalty or stream holder, Franco-Nevada has limited, if any, access to properties included in its asset portfolio. Additionally, Franco-Nevada may from time to time receive operating information from the owners and operators of the properties, which it is not permitted to disclose to the public. Franco-Nevada is dependent on the operators of the properties and their qualified persons to provide information to Franco-Nevada or on publicly available information to prepare disclosure pertaining to properties and operations on the properties on which Franco-Nevada holds royalty, stream or other interests and generally has limited or no ability to independently verify such information. Although Franco-Nevada does not have any knowledge that such information may not be accurate, there can be no assurance that such third-party information is complete or accurate. Some information publicly reported by operators may relate to a larger property than the area covered by Franco-Nevada’s royalty, stream or other interest. Franco-Nevada’s royalty, stream or other interests often cover less than 100% and sometimes only a portion of the publicly reported Mineral Resource, Mineral Reserve and production of a property. Reconciliation to CIM Definitions In this Asset Handbook, Franco-Nevada has disclosed a number of Mineral Resource and Mineral Reserve estimates covering properties related to the mining assets that are not based on Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) definitions, but instead have been prepared in reliance upon other comparable international reporting codes, including JORC (Australia), SAMREC (South Africa) and Regulation S-K 1300 (collectively, the “Acceptable Foreign Codes”). Similar to the CIM, reporting standards adopted by these Acceptable Foreign Codes are all compliant with the international Mineral Resource and Mineral Reserve Guidelines defined by the Committee for Mineral Reserves International Reporting Standards (“CRIRSCO”). In each case, the Mineral Resources and Mineral Reserves reported in this Asset Handbook are based on estimates previously disclosed by the relevant property owner or operator, without reference to the underlying data used to calculate the estimates. Accordingly, Franco-Nevada is unable to reconcile the Mineral Resource and Mineral Reserve estimates prepared in reliance with the Acceptable Foreign Codes with that of CIM definitions. Franco-Nevada sought confirmation from one of its technical advisory firms, that is comprised of engineers experienced in the preparation of Mineral Resource and Mineral Reserve estimates using CIM and each of the Acceptable Foreign Codes, of the extent to which an estimate prepared under an Acceptable Foreign Code would differ from that prepared under CIM definitions. Franco-Nevada was advised that CIM are largely comparable to those of the Acceptable Foreign Codes, the Mineral Resource and Mineral Reserve definitions and categories are substantively the same as the CIM definitions mandated in NI 43-101 and will typically result in reporting of substantially similar Mineral Resource and Mineral Reserve estimates. Such advisors further confirmed, without reference to the procedures in which the estimates prepared using Acceptable Foreign Codes that are reproduced in this Asset Handbook were conducted, that in the course of their preparation of a Mineral Resource or Mineral Reserve estimate they would effectively use the same procedures to prepare and report the Mineral Resource or Mineral Reserve estimate regardless of the reliance on CIM or any of the Acceptable Foreign Codes. Mineral Resource and Mineral Reserve Estimates This Asset Handbook has been prepared in accordance with the requirements of Canadian securities laws in effect in Canada, which differ from the requirements of U.S. securities laws. Unless otherwise indicated, all Mineral Resource and Mineral Reserve estimates included in this Asset Handbook have been prepared by the owners or operators of the relevant properties (as and to the extent indicated by them) in accordance with NI 43-101 and the Canadian Institute of Mining and Metallurgy Classification System. NI 43-101 is a rule developed by the Canadian securities regulatory authorities which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. NI 43-101 permits a historical estimate made prior to the adoption of NI 43-101 that does not comply with NI 43-101 to be disclosed using the historical terminology if, among other things, the disclosure: (a) identifies the source and date of the historical estimate; (b) comments on the relevance and reliability of the historical estimate; (c) states whether the historical estimate uses categories other than those prescribed by NI 43-101; and (d) includes any more recent estimates or data available. Mining disclosure under U.S. securities law was previously required to comply with SEC Industry Guide 7 (“SEC Industry Guide 7”) under the United States Securities Exchange Act of 1934, as amended. The SEC has adopted rules to replace SEC Industry Guide 7 with new mining disclosure rules under sub-part 1300 of Regulation S-K of the U.S. Securities Act of 1933 (“Regulation S-K 1300”), which became mandatory for U.S. reporting companies beginning with the first fiscal year commencing on or after January 1, 2021. Under Regulation S-K 1300, the SEC now recognizes estimates of “Measured Mineral Resources”, “Indicated Mineral Resources” and “Inferred Mineral Resources”. In addition, the SEC has amended its definitions of “Proven Mineral Reserves” and “Probable Mineral Reserves” to be substantially similar to international standards. Readers are cautioned that despite efforts to harmonize U.S. mining disclosure rules with NI 43-101 and other international requirements, there are differences between the terms and definitions used in Regulation S-K 1300 and mining terms defined in the Canadian Institute of Mining, Metallurgy and Petroleum Standards, which definitions have been adopted by NI 43 - 101, and there is no assurance that any Mineral Resources or Mineral Reserves that an owner or operator may report as “Measured Mineral Resources”, “Indicated Mineral Resources”, “Inferred Mineral Resources”, “Proven Mineral Reserves” and “Probable Mineral Reserves” under NI 43-101 would be the same had the owner or operator prepared the Mineral Resource and Mineral Reserve estimates under the standards of Regulation S-K 1300. In addition to NI 43-101, a number of Mineral Resource and Mineral Reserve estimates have been prepared in accordance with the JORC Code or the SAMREC Code (as such terms are defined in NI 43-101), which differ from the requirements of NI 43-101 and U.S. securities laws. Accordingly, information containing descriptions of the Corporation’s mineral properties set forth herein may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements under the U.S. federal securities laws and the rules and regulations thereunder. For more information, see “Reconciliation to CIM Definitions”. Amri Sinuhaji, Vice President, Mining of Franco-Nevada is the qualified person that approved the 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. TSX / NYSE: FNV 134 ★ Franco-Nevada Corporation Additional Information

F O R W A R D - L O O K I N G I N F O R M A T I O N This Asset Handbook contains “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian securities laws and the United States Private Securities Litigation Reform Act of 1995, respectively, which may include, but are not limited to, statements with respect to future events or future performance, management’s expectations regarding Franco-Nevada’s growth, results of operations, estimated future revenues, performance guidance, carrying value of assets, future dividends and requirements for additional capital, Mineral Resource and Mineral Reserve estimates, production estimates, production costs and revenue, future demand for and prices of commodities, expected mining sequences, business prospects and opportunities, the performance and plans of third party operators, audits being conducted by the Canada Revenue Agency (“CRA”), the expected exposure for current and future tax assessments and available remedies, statements with respect to the future status and any potential restart of the Cobre Panama mine and related arbitration proceedings. In addition, statements relating to Mineral Resources and Mineral Reserves, gold equivalent ounces (“GEOs”) or mine life are forward-looking statements, as they involve implied assessment, based on certain estimates and assumptions, and no assurance can be given that the estimates and assumptions are accurate and that such Mineral Resources and Mineral Reserves, GEOs or mine life will be realized. Such forward-looking statements reflect management’s current beliefs and are based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budgets”, “potential for”, “scheduled”, “estimates”, “forecasts”, “predicts”, “projects”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Franco-Nevada to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. A number of factors could cause actual events or results to differ materially from any forward-looking statement, including, without limitation: fluctuations in the prices of the primary commodities that drive royalty and stream revenue (gold, platinum group metals, copper, nickel, uranium, silver, iron ore and oil and gas); fluctuations in the value of the Canadian and Australian dollar, Mexican peso, and any other currency in which revenue is generated, relative to the U.S. dollar; changes in national and local government legislation, including permitting and licensing regimes and taxation policies and the enforcement thereof; the adoption of a global minimum tax on corporations; regulatory, political or economic developments in any of the countries where properties in which Franco-Nevada holds a royalty, stream or other interest are located or through which they are held; risks related to the operators of the properties in which Franco-Nevada holds a royalty, stream or other interest, including changes in the ownership and control of such operators; relinquishment or sale of mineral properties; influence of macroeconomic developments; business opportunities that become available to, or are pursued by Franco-Nevada; reduced access to debt and equity capital; litigation; title, permit or license disputes related to interests on any of the properties in which Franco-Nevada holds a royalty, stream or other interest; whether or not the Company is determined to have “passive foreign investment company” (“PFIC”) status as defined in Section 1297 of the United States Internal Revenue Code of 1986, as amended; potential changes in Canadian tax treatment of offshore streams; excessive cost escalation as well as development, permitting, infrastructure, operating or technical difficulties on any of the properties in which Franco-Nevada holds a royalty, stream or other interest; access to sufficient pipeline capacity; actual mineral content may differ from the Mineral Resources and Mineral Reserves contained in technical reports; rate and timing of production differences from resource estimates, other technical reports and mine plans; risks and hazards associated with the business of development and mining on any of the properties in which Franco-Nevada holds a royalty, stream or other interest, including, but not limited to unusual or unexpected geological and metallurgical conditions, slope failures or cave-ins, sinkholes, flooding and other natural disasters, terrorism, civil unrest or an outbreak of contagious disease; the impact of future pandemics; and the integration of acquired assets. The forward- looking statements contained in this Asset Handbook are based upon assumptions management believes to be reasonable, including, without limitation: the ongoing operation of the properties in which Franco-Nevada holds a royalty, stream or other interest by the owners or operators of such properties in a manner consistent with past practice; the accuracy of public statements and disclosures made by the owners or operators of such underlying properties; no material adverse change in the market price of the commodities that underlie the asset portfolio; the Company’s ongoing income and assets relating to determination of its PFIC status; no material changes to existing tax treatment; the expected application of tax laws and regulations by taxation authorities; the expected assessment and outcome of any audit by any taxation authority; no adverse development in respect of any significant property in which Franco-Nevada holds a royalty, stream or other interest; the accuracy of publicly disclosed expectations for the development of underlying properties that are not yet in production; integration of acquired assets; and the absence of any other factors that could cause actions, events or results to differ from those anticipated, estimated or intended. However, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Investors are cautioned that forward-looking statements are not guarantees of future performance. In addition, there can be no assurance as to (i) the outcome of the ongoing audit by the CRA or the Company’s exposure as a result thereof, or (ii) the future status and any potential restart of the Cobre Panama mine or the outcome of any related arbitration proceedings. Franco-Nevada cannot assure investors that actual results will be consistent with these forward-looking statements. Accordingly, investors should not place undue reliance on forward-looking statements due to the inherent uncertainty therein. For additional information with respect to risks, uncertainties and assumptions, please refer to Franco-Nevada’s most recent Annual Information Form as well as our most recent Management’s Discussion and Analysis filed with the Canadian securities regulatory authorities on www.sedarplus. com and Franco-Nevada’s most recent Annual Report filed on Form 40-F filed with the SEC on www.sec.gov. The forward-looking statements herein are made as at March 8, 2024 (except where stated otherwise) and Franco-Nevada does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Franco-Nevada Corporation ★ 135 TSX / NYSE: FNV Additional Information

G L O S S A R Y “ A$ ” means Australian dollars. “ Adjusted EBITDA ” and “ Adjusted EBITDA per share ” are non-IFRS measures, which exclude the following from net income and earnings per share: income tax expense/recovery; finance expenses and finance income; depletion and depreciation; non-cash costs of sales; impairment charges related to royalty, stream and working interests and investments; gains/losses on the sale of royalty, stream and working interests and investments; foreign exchange gains/losses and other income/expenses; and unusual non-recurring items. For additional information and a reconciliation of these measures to various IFRS measures, refer to the Company’s MD&A. “ Adjusted Net Income ” and “ Adjusted Net Income per share ” are non-IFRS financial measures, which exclude the following from net income and earnings per share: impairment charges related to royalty, stream and working interests and investments; gains/losses on the sale of royalty, stream and working interests and investments; foreign exchange gains/losses and other income/expenses; unusual non-recurring items; and the impact of income taxes on these items. For additional information and a reconciliation of these measures to various IFRS measures, refer to the Company’s MD&A. “ Ag ” means the chemical symbol for the element silver. “ AMR ” means Advanced Minimum Royalty and is rent paid to the royalty holder prior to the payment of royalties on production. Once production begins, the AMR payments are then credited in full against stream of production royalty payments. “ AOI ” means area of interest. “ Au ” means the chemical symbol for the element gold. “ bbl ” means barrel. “ Bbls/d ” means barrels per day. “ Bcf ” means billion cubic feet. “ Boe ” mean barrels of oil equivalent. “ Boe/d ” means barrels of oil equivalent per day. “ CAGR ” means Compounded Annual Growth Rate. “ CIM ” means the Canadian Institute of Mining, Metallurgy and Petroleum. “ CIM Definitions ” means CIM Definition Standards for Mineral Resources and Mineral Reserves and CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines. “ concentrate ” is the product of physical concentration process, such as flotation or gravity concentration, which involves separating ore minerals from unwanted waste rock. Concentrates require subsequent processing (such as smelting or leaching) to break down or dissolve the ore minerals and obtain the desired elements, usually metals. “ Cu ” means the chemical symbol for the element copper. “ cut-off grade ” means the lowest grade of Mineral Resource considered economic; used in the calculation of Mineral Resources and Mineral Reserves in a given deposit. “ Indicated Resources ” has the meaning ascribed to the term “Indicated Mineral Resource” pursuant to CIM Definitions. “ Inf ” means Inferred. “ Inferred Resources ” has the meaning ascribed to the term “ Inferred Mineral Resource ” pursuant to CIM Definitions. “ JORC ” means the Australasian Code for Reporting of Mineral Resources and Mineral Reserves prepared by the Joint Ore Reserves Committee of the Australasian Institute of Mining and Metallurgy, Australian Institute of Geoscientists and Mineral Council of Australia, as amended. “ kg ” represents kilogram. “ km ” represents kilometre. “ km 2 ” represents square kilometre. “ koz ” means thousand ounces. “ kt ” means thousand tonnes. “ ktpd ” means thousand tonnes per day “ lb ” represents pound. “ LOM ” means life of mine. “ m ” means metres. “ M&I ” means Measured and Indicated. “ Mbbls/mbbls ” means thousand barrels. “ Mboe/mboe ” means thousand barrels of oil equivalent. “ Mcf/mcf ” means thousand cubic feet. “ Measured Resources ” has the meaning ascribed to the term “Measured Mineral Resource” pursuant to CIM Definitions. “ mineralization ” usually implies minerals of value occurring in rocks. “ Mineral Royalties ” means the royalty interests in precious and base metal properties and certain equity interests owned by Franco-Nevada. “ Mlbs ” means millions of pounds. “ MMbbl ” means million barrels of oil. “ MMcf/mmcf ” means million cubic feet. “ MMcf/d or mmcf/d ” means million cubic feet per day. “ Mo ” means the chemical symbol for the element molybdenum. “ Moz ” means million ounces. “ Mtpa ” means million tonnes per annum. “ NGLs ” means Natural Gas Liquids. “ NI 43-101 ” means National Instrument 43-101 – Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. “ Ni ” means the chemical symbol for the element nickel. “ NPI ” means Net Profit Interest: the profits after deduction of expenses. “ diamond drill ” is a type of drill in which the rock cutting is done by abrasion, with a diamond impregnated bit, rather than by percussion. The drill cuts a core of rock which is recovered in long cylindrical sections. Syn: “ core drill ”. “ dip ” is the angle between a horizontal plane and an inclined surface such as a rock formation, fault or vein. “ drift ” is a horizontal passage underground that follows along the length of a vein of rock formation. “ EIS ” means environmental impact statement. “ eq ” or “ Eq ” means equivalent. “ fault ” means a fracture in a rock where there has been displacement of the two sides. “ Fe ” means the chemical symbol for the element iron. “ feasibility study ” means a comprehensive study of a mineral deposit in which all geological, engineering, legal, operation, economic, social, environmental and other relevant factors are considered in sufficient detail that it could reasonably serve as a basis by a financial institution to finance the development of a deposit for mineral production. “ FH ” means Freehold or Lessor Royalty. “ flotation ” is a process by which mineral particles are induced to become attached to bubbles and float, in an ore and water slurry, so that the valuable minerals are concentrated at the slurry surface and separated from the worthless gangue. “ fracture ” means breaks in a rock, usually due to intensive folding or faulting. “ Franco-Nevada ” means Franco-Nevada Corporation and is also referred to as “ Franco ”, “ FNV ”, “ the Company ”, “ Corporation ”, “ management ”, “ we ”, or “ our ” in this Asset Handbook. “ Freehold ” means an interest n real property. “ g ” represents grams. “ g/t ” means grams per tonne. “ GR ” means Gross Royalty and is a royalty based on all revenues in cash or in-kind products received by the operator for the sale of product. “ grade ” means the concentration of each ore metal in a rock sample, usually given as weight percent. Where extremely low concentrations are involved, the concentration may be given in grams per tonne (g/t) or oz per ton (oz/t). “ Guide 7 ” means the mining industry guide entitled “Description of Property by Issuers Engaged or to be Engaged in Significant Mining Operations” contained in the Securities Act Industry Guides published by the United States Securities and Exchange Commission, as amended. “ ha ” means hectares; 10,000 square metres. “ heap leaching process ” is the process of extracting gold and silver by placing broken ore on an impermeable pad and applying a diluted cyanide solution that dissolves a portion of the contained gold and silver, which are then recovered in metallurgical processes. TSX / NYSE: FNV 136 ★ Franco-Nevada Corporation Additional Information

“ NPR ” means Net Proceeds Royalties: which is a royalty on the profits after deduction of expenses. “ NRI ” means Net Royalty Interest: paid net of operating and capital costs (similar to an NPI). “ NSR ” means Net Smelter Return: Which is the proceeds returned from the smelter and/or refinery to the mine owner less certain costs. “ Oil and Gas Interests ” means the royalty interests, working interests and oil and natural as mineral rights in oil and natural gas properties owned by Franco- Nevada. “ open pit ” is a surface working open to daylight, such as a quarry. “ ore ” means a natural aggregate of one or more minerals which may be mined and sold at a profit, or from which some part may be profitably separated. “ ORR ” means Overriding Royalty: A percentage share of production, which is free of all costs of drilling and producing, and is created by the lessee or working interest owner and paid by the lessee or working interest owner. “ oz ” represents ounce (troy). 1 troy ounce = 1.097 avoirdupois ounce. “ oz/ton ” represents troy ounces er short ton. “ P&P ” means Proven and Probable. “ Pb ” means the chemical symbol for the element lead. “ Pd ” means the chemical symbol for the element palladium. “ PGM ” means the platinum group of metals, including but not limited to Palladium, Platinum, Rhodium, Osmium, and Rhenium. “ porphyry ” is an igneous rock of any composition that contains conspicuous, large mineral grains (phenocrysts) in a fine-grained matrix. “ preliminary feasibility study” or “PFS” means a comprehensive study of the viability of a mineral project that has advanced to a stage where the mining method, in the case of underground mining, or the pit configuration, in the case of an open pit, has been established and an effective method of mineral processing has been determined, and includes a financial analysis based on reasonable assumptions of technical, engineering, legal, operating, economic, social, and environmental factors and the evaluation of other relevant factors which are sufficient for a qualified person, acting reasonably, to determine if all or part of the mineral resource may be classified as a mineral reserve. “ Probable Reserve ” in respect of Mineral Reserves has the meaning ascribed to the term “ Probable Mineral Reserve ” pursuant to CIM Definitions. “ Proven Reserve ” in respect of Mineral Reserves has the meaning ascribed to the term “ Proven Mineral Reserve ” pursuant to CIM Definitions. “ Pt ” means the chemical symbol for the element platinum. “ tpa ” means tonnes per annum. “ vein ” means an epigenetic mineral filling of a fault or other fracture, in tabular or sheet-like form, often with associated replacement of the host rock; a mineral deposit of this form and origin. “ waste ” is rock which is not ore and usually has to be removed during the normal course of mining to get at the ore. “ WI ” means Working Interest. Holders of working interests have an ownership position in the property and operation and hence are liable for cash calls on their share of capital, operating and environmental costs usually in proportion to their ownership percentage. Working interests are not considered to be royalties because of their ongoing funding requirements although, for profitable operations, they can be economically similar in their calculations to NPIs. “ Zn ” means the chemical symbol for the element zinc. “ Qualified Person ” for the purposes of NI 43-101, is an individual who is an engineer or geoscientist with at least five years of experience in mineral exploration, mine development or operation or mineral project assessment, or any combination of these; and has experience relevant to the subject matter of the mineral project; and who is a member in good standing of a recognized self-regulatory organization of engineers or geoscientists. “ Reserves ” means collectively, in respect of Mineral Reserves, Probable Reserves and Proven Reserves. “ Resources ” means a concentration or occurrence of diamonds, natural solid inorganic material, or natural solid fossilized organic material including base and precious metals, coal, and industrial minerals in or on the earth’s crust in such form and quantity and of such a grade or quality that it has reasonable prospects for economic extraction. “ Revenue-based Royalties ” are based on the value of the production or net proceeds received by the operator with defined deductions as specified by the royalty contract. Some forms of revenue-based royalties in the mining and energy industries are: “ NSR ” Net Smelter Return Royalty “ ORR ” Overriding Royalty “ GR ” Gross Royalty “ FH ” Freehold or Lessor Royalty “ run-of-mine ore ” means mined ore which has not been subjected to any pre-treatment, such as washing, sorting or crushing prior to metallurgical processing. “ SAMREC ” means the South African Code for Reporting of Mineral Resources and Mineral Reserves prepared by the South African Mineral Committee under the auspices of the South African Institute of Mining and Metallurgy, as amended. “ smelting ” is an intermediate stage metallurgical process in which metal is separated from impurities by using thermal or chemical separation techniques. “ stope ” means an excavation in an underground mine from which ore is being or has been extracted. “ Streams ” are metal purchase agreements that allow the holder of the agreement to purchase all or a portion of the gold, silver or other products from a mine in exchange for an upfront payment and an additional payment on each delivery. Streams are not royalties because they are not an interest in land and there is an ongoing cash payment required to purchase the physical metal. “ strike ” means the trend or direction of the intersection of a dipping a layer of rock, fault, vein or other geologic feature with a horizontal surface. “ tailings ” means material rejected after recoverable valuable minerals have been extracted from the ore or concentrate. “ ton ” is 2,000 pounds. Syn: short ton. “ tonne ” means 1,000 kilograms. Franco-Nevada Corporation ★ 137 TSX / NYSE: FNV Additional Information

C O R P O R A T E I N F O R M A T I O N Executive Management Paul Brink President & CEO Sandip Rana Chief Financial Officer Lloyd Hong Chief Legal Officer & Corporate Secretary Eaun Gray Senior Vice President, Business Development Jason O’Connell Senior Vice President, Diversified Directors David Harquail Chair of the Board Paul Brink President & CEO Tom Albanese Hugo Dryland 1 Derek Evans Dr. Catharine Farrow Maureen Jensen Jennifer Maki Jacques Perron Chair Emeritus Pierre Lassonde Listings of Common Shares Toronto Stock Exchange: FNV New York Stock Exchange: FNV Share Capital As at March 31, 2024 Common shares outstanding: 192,307,477 Reserved for options and other: 757,982 Fully diluted: 193,065,459 Auditors PricewaterhouseCoopers LLP Toronto, Canada Transfer Agent Computershare Investor Services Inc. 100 University Avenue, 8th Floor Toronto, Ontario M5J 2Y1 Canada Toll Free: (800) 564-6253 Tel: (514) 982-7555 service@computershare.com Investor Information info@franco-nevada.com www.franco-nevada.com Tel: (416) 306-6323 Toll Free: (877) 401-3833 Head Office 199 Bay Street, Suite 2000 P .O. Box 285 Commerce Court Postal Station Toronto, Ontario M5L 1G9 Canada Tel: (416) 306-6300 Barbados Office Ground Floor, Balmoral Hall, Balmoral Gap, Hastings, Christ Church Barbados, BB14034 Tel: (246) 434-8200 U.S. Office 1745 Shea Center Drive, Suite 400 Highlands Ranch, Colorado 80129 USA Tel: (720) 344-4986 Australia Office 44 Kings Park Road, Suite 41 West Perth, WA 6005 Australia Tel: 61-8-6263-4425 1 Mr. Dryland is standing for election as a first-time nominee at the Annual and Special Meeting of Shareholders to be held on May 1, 2024 TSX / NYSE: FNV 138 ★ Franco-Nevada Corporation Additional Information

Franco-Nevada Corporation ★ 139 TSX / NYSE: FNV Additional Information

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