Overview ORGANIC GROWTH DRIVERS 1 Our guidance 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. 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. Expansion2 Recent Mine Starts Subika to 2024 Séguéla 2023 Precious Metals Macassa (Kirkland Lake) to 2024 Magino 2023 Island Gold to 2026 Yandal (Bronzewing) 2023 Vale to 2026 Posse (Mara Rosa) 2024 Detour Lake to 2027 Salares Norte 2024 Under Construction3 Permitting3 Greenstone 2024 Eskay Creek 2027 Diver Tocantinzinho 2024 Copper World Project 2028 sified Assets Valentine Gold 2025 Stibnite Gold 2028 Castle Mountain (Phase 2) 2028 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 Mineral Resources and Mineral Reser Two-thirds of 5-year Growth is Already Under Construction ves Additional Inf or mation TSX / NYSE: FNV Franco-Nevada Corporation ★ 17