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