5 7 Appendices Transparency & Guiding Principles Climate Action Diversity, Inclusion & Well-Being Good Governance & Shareholder Alignment Community Contributions Responsible Capital Allocation Appendix C: TCFD Disclosure Board Oversight The Board and its Committees provide oversight of our strategic approach to climate change and our ESG risks, which includes climate-related risks and opportunities affecting our business. A number of our Board members have skills and competencies in climate-related matters, including David Harquail, Tom Albanese, Derek Evans, Catharine Farrow, Maureen Jensen, and Elliott Pew. † Each of the Board’s Committees have oversight of ESG and climate-related risks, opportunities and disclosures, which are embedded in the Committees’ Charters: • Compensation and ESG Committee (“CESGC”): Our CESGC develops and recommends to the Board our approach to ESG issues, including climate-related issues, reviews the adequacy of our ESG practices and policies and recommends any changes to the Board, approves the adoption of any ESG-related standards or initiatives, adopts ESG-related corporate goals used to evaluate management’s performance for executive compensation decisions and engages with our stakeholders in respect of ESG issues. • Audit and Risk Committee (“ARC”): Our ARC oversees our risk management, including climate change risks. Management’s Role The Board and its Committees oversee senior management, who are responsible for the management of ESG and climate-related risks and for the execution of ESG and climate-related opportunities. Our Chief Executive Officer is responsible for leadership on ESG and climate- related matters and our Chief Legal Officer has executive responsibility over such matters. Climate-related risks and opportunities are overseen by the following members of our executive team having stewardship over our organization’s units (including within our subsidiaries), each being responsible for implementing our ESG strategy and managing risks within their units: • Business Development (Senior Vice President, Business Development) • Diversified (Senior Vice President, Diversified) • Finance (Chief Financial Officer) • Legal (Chief Legal Officer) Our Board oversight and management leadership of ESG and climate-related issues is depicted in the adjacent chart. Board and Management Engagement All of our executives regularly attend Board and Committee meetings, including providing updates on royalty and stream acquisition opportunities, which include ESG-related considerations. To the extent that a materially adverse ESG issue or consideration arises during the due diligence process in respect of a royalty and stream opportunity, management and the Board may decide not to proceed with the opportunity. On a number of occasions, our Company has passed on otherwise prospective opportunities due to ESG risks. The Board and its Committees also frequently meet with senior management to determine our strategy with respect to our risks and exposures. In November 2022, management met with the ARC to discuss ESG-related risks and strategy and with the CESGC to discuss strategy for improved ESG reporting in 2023. Most recently, in March 2023, management met with the CESGC to discuss Franco-Nevada’s ESG strategy, including, among other things, climate initiatives and commitments, community contributions, and diversity and inclusion goals and targets for the company. Business Development Team Senior Vice President, Business Development Diversified Team Senior Vice President, Diversified Compensation and ESG Committee* Finance Team Chief Financial Officer Audit and Risk Committee* Chief Executive Officer** Board of Directors* Legal Team Chief Legal Officer*** * Board and Committees have oversight over ESG and climate-related risks and opportunities ** Chief Executive Officer has responsibility for leadership on ESG and climate-related matters *** Chief Legal Officer has executive responsibility over ESG and climate- related matters † After our May 2, 2023 annual general meeting, Board members with skills and competencies in climate-related matters will include David Harquail, Tom Albanese, Derek Evans, Catharine Farrow, Maureen Jensen, and Jacques Perron. Our governance around climate-related risks and opportunities Governance