G R O W T H B E Y O N D F I V E - Y E A R O U T L O O K We have royalty and stream interest on a number of large scale development stage assets that are expected to drive long-term growth. In particular, we have royalties on the next generation copper assets: Cascabel (Alpala) in Ecuador, Copper World Project in Arizona, Taca Taca in Argentina, NuevaUnión in Chile, and Conga in Peru. We also have royalties that cover much of the Ring of Fire in Northern Ontario, which hosts some of the world’s largest chromite resources, along with nickel, copper and gold deposits. Another asset with large scale potential is the Crawford nickel deposit that is being delineated in Ontario. We have royalties on Pascua-Lama and Volcan, both large scale gold deposits in Chile. These assets alone provide exposure to 5.2M M&I Royalty Ounces the equivalent of $14.6B at $2,800/oz. We provide profiles for all these assets in this Asset Handbook, though they are not exhaustive. A D D I T I O N A L O P T I O N A L I T Y In addition to the profiled assets, we have another 273 exploration assets which are listed on pages 82-84 and pages 100-101. There is no doubt that our portfolio, spanning approximately ~70,500 km2 (2), will yield even more discoveries in the coming years across the world’s premier mineral trends. The optionality value of the portfolio is difficult to measure. The example below, however, gives an indication of how this optionality has played out historically. 0 20 40 60 80 100 120 2024 2008 – 2024 2007 Gold Reserves3 at time of IPO Proven and Probable Mineral Reserves (Moz) >52 Moz gold produced IPO $1.2B paid for portfolio Gold Reserves3 of same assets as reported December 2024 Reserves increase at no cost >$2.4B4 revenue to Franco-Nevada from portfolio 3.6x increase 5 1 Franco-Nevada has the option to convert the Cascabel royalty to a gold NSR for a period of time once the asset is producing 2 Cobre Panama currently on preservation and safe management 3 Total gold reserves associated with the top 37 assets at the time of IPO (not adjusted for FNV royalty ownership). All 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, SEC Industry Guide 7, JORC, or SAMREC guidelines Cascabel Stream (Au) Volcan (Au) Conga (Cu, Au) NuevaUnión (Cu, Au) Cascabel NSR1 (Cu, Au, Ag) Pascua-Lama (Au) Ring of Fire (Cr, Ni) Volcan (Au) Holt (Au) Other Cascabel Stream (Au) Volcan (Au) Conga (Cu, Au) NuevaUnión (Cu, Au) Cascabel NSR1 (Cu, Au, Ag) Pascua-Lama (Au) Ring of Fire (Cr, Ni) Volcan (Au) Holt (Au) Other Large-Scale Defined Resources 4 Revenue from original FNV portfolio includes gold, platinum and palladium revenue as at December 31, 2024 5 Calculation includes depletion TSX / NYSE: FNV 16 ★ Franco-Nevada Corporation Overview Overview