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