North America OTHER PRODUCING ENERGY ASSETS w Location: BC / AB / SK / MB, Canada and Oregon, U.S. | Operator: Various | Royalty: ORR/FH: 0.5-20% vie Over Franco-Nevada has other interests in Western Canada which generate revenue primarily through lessor royalties and GORRs. 2023 2022 2021 In Alberta and BC, the interests generate revenue primarily from natural Revenue to Franco-Nevada ($ million) $ 9.0 $ 13.4 $ 8.9 gas production from shallow gas formations such as Milk River and Production (Mboe)1 227 250 257 Medicine Hat. In northern Alberta, the interests provide exposure Commodity Split (%)2 Oil 44% 66% 67% to deeper conventional gas targets including the Shunda, Grosmont Gas 46% 23% 20% and Elkton formations. Franco-Nevada’s most significant assets in the NGL 10% 11% 13% region are the Edson property operated by Canadian Natural Resources Ltd. (“CNRL”) and the Medicine Hat Consolidated Unit No.1, operated 1 Net to the Oil and Gas Interests and does not include production from Neal Hot Springs by Canlin Resources Partnership. Franco-Nevada has an approximate 2 Percentage based on production revenue from each commodity 15% overriding royalty in the Edson property where CNRL extracts gas and natural gas liquids by exploiting resources in the Cardium Formation. Precious Metals Aside from the major producing assets of Weyburn and Orion, Franco- The Medicine Hat Unit has been producing gas since 1963 and is located Nevada has 44 Other Producing Assets that generate revenue. These approximately 257 km southeast of Calgary. Other production comes 2 from unitized and non-unitized wells, including gross overriding royalty interests cover more than 2,250 km . positions in ten different Units across Alberta. Other operators on the In Saskatchewan and Manitoba, the assets are focused primarily in high interests include, CNRL and Imperial Oil. quality oil plays and are operated by companies such as Crescent Point Energy, Saturn Oil & Gas Inc., Vermilion Energy Inc. and Tundra Oil & Gas In 2020, Franco-Nevada acquired a royalty on the Neal Hot Springs Partnership. The most significant producing assets are comprised of the geothermal operation in Oregon as part of a broader portfolio transaction. Midale Unit and the Tidewater royalties. Franco-Nevada holds a 1.14% The plant produces approximately 22 MW of geothermal energy and gross override royalty interest and a 1.59% working interest in the Midale is operated by Ormat Technologies, Inc. Franco-Nevada received $0.33 Unit in Southeast Saskatchewan where Cardinal Energy produces million in revenue from Neal Hot Springs in 2023. approximately 3,800 Boe/d through CO Enhanced Oil Recovery (“EOR”) 2 Primarily quality oil plays in Saskatchewan and Manitoba techniques. The Tidewater royalties in Saskatchewan generate oil production from the Shaunavon and other formations and are managed Exposure to shallow gas and deeper conventional gas sified Assets by various operators. in Alberta and BC Diver Interest in the Neal Hot Springs geothermal operation Montney Peace River Athabasca Oil Sands Oil Sands ALBERTA Saskatchewan/Manitoba Oil and Gas Interests N Duvernay Lloydminster 0 80 Redwater Heavy Oil km Deep Cardium Viking Basin Cold Lake Edson Oil Sands MANITOBA EDMONTON SASKATCHEWAN Dodsland SE Saskatchewan Viking Lower Bakken Torquay Oil and Mississippian Oil N REGINA 0 80 Lloydminster Shaunavon Heavy Oil Oil km Shallow A Gas Weyburn/ T Midale Alberta/ Williston Basin British Columbia ALBER Bakken NORTH DAKOTA Oil and Gas CBM Spearsh Company Core Land CALGARY (HSCN) Shallow Sanish Oil Oil Company Non Core Land Interests Gas MONTANA AN Major City Company Core Land W Company Non Core Land CHE Major City T A BRITISH COLUMBIA Alberta SASK Bakken WASHINGTON IDAHO MONTANA 114 ★ Franco-Nevada Corporation TSX / NYSE: FNV