SHAREHOLDER RETURNS 4 Leading Track Record 1, 2, 3 (CAGR Since FNV Inception ) A lower-risk gold investment to Franco-Nevada (FNV) - US$ basis hedge against market volatility NASDAQ NYSE and TSX listed S&P 500 Large holders include: Gold Bullion ETF  BlackRock  Fidelity Barclays US Aggregate Bond  MFS GDX (index of mostly gold miners) -4% 0% 4% 8% 12% 16% 20% 1. FNV Inception – December 20, 2007 2. Compounded annual total returns to March 31, 2023 3. Source: TD Securities; Bloomberg