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 = 0.9072 metric tonnes, 1 oz = 31.1035 g 3 Lundin Mining Corporation; News Release, February 12, 2025 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, 2024 6 Southern Peaks Mining LP; Email and Letter to Franco-Nevada (Barbados) Corporation, Statement Resource & Reserves estimates at the Condestable Mine, March 17, 2025 7 G Mining Ventures Corp.; News Release, February 20, 2025 8 Newmont Corporation; News Release, February 20, 2025. Yanacocha, as represented in the table, includes Conga 9 Vale S.A.; Form 20-F, April 19, 2024. Details of Vale’s Participating Debentures are available on Vale’s website 10 Pan American Silver Corp.; News Release, September 11, 2024 & Corporate Website 11 Gold Fields Limited; Mineral Resources and Mineral Reserves Supplement to the Integrated Annual Report 2023, March 28, 2024 12 SolGold Plc.; Annual Information Form, September 26, 2024 13 Hochschild Mining PLC; Press Release, March 12, 2025 14 First Quantum Minerals Ltd.; Taca Taca Project NI 43-101 Technical Report, March 29, 2021 15 G Mining Ventures Corp.; News Release, February 20, 2025 16 Patagonia Gold Corp.; MD&A, November 29, 2024 17 Coro Mining Corporation; San Jorge Project NI 43-101 Technical Report, March 1, 2012 18 Barrick Gold Corporation; Press Release, February 6, 2025 19 Hochschild Mining PLC; Press Release, March 12, 2025 20 Coeur Mining, Inc.; News Release, February 18, 2025 21 Barrick Gold Corporation; Press Release, February 6, 2025. Carlin Trend includes Goldstrike, Gold Quarry and South Arturo as well as other properties where Franco-Nevada has no royalties or stream interests 22 Kinross Gold Corporation; News Release, February 12, 2025 23 SSR Mining Inc.; Mineral Reserve and Resource Tables as of December 31, 2024 24 Equinox Gold Corp. & Calibre Mining Corp.; Corporate Presentation, February 24, 2025 25 Equinox Gold Corp. & Calibre Mining Corp.; Corporate Presentation, February 24, 2025 26 Hecla Mining Company; News Release, February 12, 2025 27 Hecla Mining Company; News Release, February 12, 2025 28 Perpetua Resources Corp., Form 10-K, March 26, 2024 29 Borealis Mining Company Ltd. & Gold Bull Resources Corp.; News Release, December 10, 2024 30 KGHM Polska Miedź S.A.; Mineral Resources and Reserves Report, December 31, 2014 31 Integra Resources Corp.; Corporate Presentation, February 2025 32 Paramount Gold Nevada; Sleeper Gold-Silver Project Form 10-K; September 26, 2024 33 Agnico Eagle Mines Limited; News Release, February 13, 2025 34 Magna Mining Inc.; Corporate Presentation, February 2025 and McCreedy West Mine NI 43-101 Technical Report, October 28, 2024 35 Barrick Gold Corporation; Press Release, February 6, 2025 36 Newmont Corporation; News Release, February 20, 2025 37 Agnico Eagle Mines Limited; News Release, February 13, 2025 38 Equinox Gold Corp. & Calibre Mining Corp.; Corporate Presentation, February 24, 2025 39 Alamos Gold Inc.; News Release, February 18, 2025 40 Victoria Gold Corp.; Eagle Gold Mine NI 43-101 Technical Report, April 10, 2023 41 Orla Mining Ltd.; Corporate Presentation, February 21, 2025 42 Pan American Silver Corp.; News Release, September 11, 2024 43 Pan American Silver Corp.; News Release, September 11, 2024 44 Agnico Eagle Mines Limited; News Release, February 13, 2025 45 Alamos Gold Inc.; News Release, February 18, 2025 46 Agnico Eagle Mines Limited; News Release, February 13, 2025 47 Agnico Eagle Mines Limited; News Release, February 13, 2025 48 Agnico Eagle Mines Limited; News Release, February 13, 2025 49 Equinox Gold Corp. & Calibre Mining Corp.; Corporate Presentation, February 24, 2025 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 13, 2025 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 “Technical and Third-Party Information” section on page 130. 50 Skeena Resources Limited; Eskay Creek Project NI 43-101 Technical Report, November 14, 2023 51 Evolution Mining Limited; ASX Announcement, February 14, 2024 52 Seabridge Gold Inc.; Mineral Reserves and Resources, June 2024 53 Fortune Bay Corp.; Goldfields Project NI 43-101 Technical Report, October 31, 2022 54 Agnico Eagle Mines Limited; News Release, February 16, 2023 55 Ascot Resources Ltd.; Annual Information Form, March 25, 2024 56 Wallbridge Mining Company Limited; Detour-Fenelon Gold Trend Property NI 43-101 Technical Report, December 29, 2023 57 Westhaven Gold Corp.; Corporate Presentation, February 2025 58 Red Pine Exploration Inc.; Wawa Gold Project NI 43-101 Technical Report, September 30, 2024 59 Gold Candle Ltd.; Press Release, February 19, 2025 60 Galway Metals Inc.; Corporate Presentation, December 2024 61 Regis Resources Limited; ASX Announcement, June 17, 2024 62 Wiluna Mining Corporation Limited; Public Announcement, January 25, 2025 and ASX Announcement, February 16, 2024 63 Northern Star Resources Limited; ASX Announcement, May 2, 2024 64 Northern Star Resources Limited; ASX Announcement, May 2, 2024 65 Genesis Minerals Limited; Annual Report, August 29, 2024 66 Matsa Resources Ltd.; Annual Report, October 16, 2024 for Red October and AngloGold Ashanti Limited; Mineral Resource and Ore Reserve Report as at December 31, 2023 for Butcher Well 67 Catalyst Metals Limited; ASX Announcement; October 11, 2024 68 Minerals 260 Limited; Corporate Presentation, February 28, 2025 69 Ramelius Resources Limited; ASX Release, September 2, 2024 70 Ramelius Resources Limited; ASX Release, September 2, 2024 71 Benz Mining Corp; ASX Announcement, November 6, 2024 72 Kinross Gold Corporation; News Release, February 12, 2025 73 Newmont Corporation; News Release, February 20, 2025 74 Endeavour Mining plc; News Release, March 6, 2025 75 Endeavour Mining Corp.; Annual Report, March 17, 2022 76 Perseus Mining Limited; News Release, August 21, 2024 77 Ariana Resources plc; Kiziltepe, Kepez North, Kepez West, Karakavak Mineral Resource Estimates, effective March 2024 78 Fortuna Mining Corp.; News Release, December 10, 2024 79 Eldorado Gold Corporation; News Release, December 11, 2024 80 Alamos Gold Inc.; News Release, February 18, 2025 81 Perseus Mining Limited; News Release, August 21, 2024 82 Strickland Metals Limited; ASX Announcement, February 19, 2025 83 Lundin Mining Corporation; News Release, February 12, 2025 84 Glencore plc; Resources & Reserves as at December 31, 2024 85 Teck Resources Limited; Annual Information Form, February 19, 2025 86 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. 87 Southern Peaks Mining LP; Email and Letter to Franco-Nevada (Barbados) Corporation, Statement Resource & Reserves estimates at the Condestable Mine, March 17, 2025 88 Newmont Corporation; News Release, February 20, 2025. Yanacocha, as represented in the table, includes Conga 89 Pan American Silver Corp.; News Release, September 11, 2024 & Corporate Website 90 Gold Fields Limited; Mineral Resources and Mineral Reserves Supplement to the Integrated Annual Report, March 28, 2024 91 SolGold Plc.; Annual Information Form, September 26, 2024 92 Patagonia Gold Corp.; MD&A, November 29, 2024 93 Hecla Mining Company; News Release, February 12, 2025 94 Perpetua Resources Corp., Form 10-K, March 26, 2024 95 Skeena Resources Limited; Eskay Creek Project NI 43-101 Technical Report, November 14, 2023 96 Integra Resources Corp.; Corporate Presentation, February 2025 97 Westhaven Gold Corp.; Corporate Presentation, February 2025 98 Paramount Gold Nevada; Sleeper Gold-Silver Project Form 10-K; September 26, 2024 99 Strickland Metals Limited; ASX Announcement, February 19, 2025 100 Sibanye Stillwater Limited; JSE Market Release, February 19, 2025 101 Sibanye Stillwater Limited; JSE Market Release, February 19, 2025 Franco-Nevada Corporation ★ 119 TSX / NYSE: FNV Mineral Resources and Mineral Reserves Additional Information