6 6 8 Eaun Gray Senior Vice President, Business Development Eaun Gray, Senior Vice President, Business Development, heads Franco-Nevada’s mining business development group. Mr. Gray was previously a Vice President at Rothschild & Co where he advised on mergers and acquisitions and debt and stream transactions. Prior to that, Mr. Gray worked for CIBC in investment and corporate banking. Mr. Gray completed a Master of Business Administration degree at the Tuck School at Dartmouth College (Edward Tuck Scholar), is a CFA Charterholder and received a Bachelor of Commerce from Queen’s University (First Class Honours). Individual performance considerations CESGC conclusions Mr. Gray: Successfully executed on over US$700 million in new investments, including the Vale Royalty acquisition and Condestable precious metals stream Evaluated and progressed numerous other opportunities with 2021 being a particularly active year for transaction reviews Led and mentored the business development team Mr. Gray met or significantly exceeded all objectives set for him in 2021 and Mr. Gray’s performance in 2021 was determined to be exceptional. In light of Mr. Gray’s exceptional individual outperformance and the results of the Corporate Goals performance, Mr. Gray was awarded an above-target (but below maximum) cash bonus and other incentive compensation at targeted levels, all as detailed in the Summary Compensation Table. For 2022, Mr. Gray’s base salary was adjusted to C$410,000 in recognition of his greater responsibilities and to provide Mr. Gray with a more competitive base salary. Jason O’Connell Senior Vice President, Diversified Jason O’Connell, Senior Vice President, Diversified, has been with Franco-Nevada since 2008. His role includes leading busi ness development activities for diversified mining and energy opportunities and managing the Corporation’s Energy portfolio. Mr. O’Connell led the growth of the Corporation’s US Energy portfolio and, prior to that, held roles in the business development group and managed investor relations. Prior to joining Franco-Nevada, he worked in mining equity research with the Bank of Montreal. Mr. O’Connell holds a Master of Business Administration degree from Dalhousie University and Bachelor of Science degree with honours in Geology from Acadia University. Individual performance considerations CESGC conclusions Mr. O’Connell: Assumed responsibility for evaluating non-precious metals opportunities in addition to Energy Implemented enhanced internal and Board reporting for the Energy portfolio Evaluated and progressed several non-precious metals opportunities Mr. O’Connell met or exceeded all objectives set for him in 2021. In light of Mr. O’Connell’s individual outperformance and the results of the Corporate Goals performance, Mr. O’Connell was awarded an above- target (but below maximum) cash bonus and other incentive compensation at targeted levels, all as detailed in the Summary Compensation Table. For 2022, Mr. O’Connell has taken on responsibility for investments in other commodities other than precious metals (in addition to Energy) and Mr. O’Connell’s title was changed to Senior Vice President, Diversified. Mr. O’Connell’s base salary was adjusted to C$400,000 in recognition of his greater responsibilities and to provide Mr. O’Connell with a more competitive base salary.