8 2 Appendices Transparency & Guiding Principles Climate Action Diversity, Inclusion & Well-Being Good Governance & Shareholder Alignment Community Contributions Responsible Capital Allocation Appendix G: KPMG: Independent Limited Assurance Report © 2023 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. KPMG LLP Bay Adelaide Centre 333 Bay Street, Suite 4600 Toronto, ON M5H 2S5 Canada Tel 416-777-8500 Fax 416-777-8818 INDEPENDENT LIMITED ASSURANCE REPORT To the Board of Directors of Franco-Nevada Corporation (“Franco - Nevada”): We have undertaken a limited assurance engagement of the description of implementation on Franco- Nevada’s Responsible Gold Mining Principles Policy (“RGMP Policy”) presented in the table on page 47 under the section titled “Description of implementation” of Franco - Nevada’s 2023 ESG Report (the “Report”) as at December 31, 2022. Other than as described in the preceding paragraph, which sets out the scope of our engagement, we did not perform assurance procedures on the remaining information included in the Report, and accordingly, we do not express a conclusion on this information. SPECIFIC PURPOSE OF SUBJECT MATTER AND APPLICABLE CRITERIA There are no mandatory requirements for the preparation, publication or review of management’s descr iption of implementation of the RGMP Policy. As such, Franco-Nevada has created and applied internally developed RGMP Policy Measures (the ‘Applicable Criteria’) which are listed in the table on page 47 of the Report. The Description of Implementation has been prepared in accordance with the Applicable Criteria and as a result may not be suitable for another purpose. MANAGEMENT’S RESPONSIBILITIES Management is responsible for the preparation and presentation of the Description of Implementation in accordance with the Applicable Criteria, current as at the date of this report. Management is also responsible for determining Franco- Nevada’s objectives in respect of RGMP Policy performance and reporting, and for establishing and maintaining appropriate performance management and internal control systems from which the reported information is derived. PRACTIONER’S RESPONSIBILITIES AND PROFESSIONAL REQUIREMENTS Our responsibility is to express a limited assurance conclusion based on the subject matter information based on evidence we have obtained. We conducted our limited assurance engagement in accordance with International Standard on Assurance Engagements (“ISAE”) 3000, Assurance Engagements Other than Audits or Review of Historical Financial Information ., issued by the International Auditing and Assurance Standards Board. ISAE 3000 requires that we plan and perform this engagement to obtain the stated level of assurance, in accordance with the Applicable Criteria. The nature, timing and extent of procedures performed depends on our professional judgment, including an assessment of the risk of material misstatement, whether due to fraud or error, and involves obtaining evidence about the Description of Implementation. © 2023 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. ASSURANCE APPROACH We planned and performed our procedures to obtain all of the evidence, information and explanations we considered necessary in order to form our conclusion as set out below. A limited assurance engagement consists of making inquiries, primarily of persons responsible for the preparation of the Description of Implementation and applying analytical and other evidence gathering procedures, and evaluating the evidence obtained. Our procedures included: • Inquiries of those responsible for completing the activities to self-assess implementation of Franco- Nevada’s internally developed RGMP Policy; • Assessing the suitability and application of the criteria in respect of the Description of Implementation; • Reviewing relevant evidence and other documentation to support management’s statements; • Inquiries with relevant staff at the corporate level to understand the data collection and reporting processes for the Description of Implementation; and • Evaluation of the overall presentation of the Description of Implementation in the Report to determine whether the information presented is consistent with our overall knowledge of, and experience with, Franco- Nevada’s RGMP Policy implementation. The procedures performed in a limited assurance engagement vary in nature ad timing, from and are less in extent than for, a reasonable assurance engagement. Consequently, the level of assurance obtained in limited assurance engagement is substantially lower than the assurance that would have been obtained had a reasonable assurance engagement been performed. PRACTITIONER’S INDEPENDENCE, QUALITY CONTROL We have complied with the relevant rules of professional conduct/code of ethics applicable to the practice of public accounting and related to assurance engagements, issued by various professional accounting bodies, which are founded on fundamental principles of integrity, objectivity, professional competence and due care, confidentiality and professional behaviour. The firm applies International Standard on Quality Management 1, which requires the firm to design, implement and operate a system of quality management including policies or procedures regarding compliance with ethical requirements, professional standards and applicable legal and regulatory requirements. SIGNIFICANT INHERENT LIMITATIONS Non-financial information, such as the Description on Implementation, is subject to more inherent limitations than financial information, given the qualitative characteristics of the underlying subject matter and methods used for determining this information. The absence of a significant body of established practice on which to draw allows for the selection of different but acceptable evaluation techniques, which can result in materially different measurements and can impact comparability. It is important to read Franco- Nevada’s internally developed RGMP Policy Measures presented in the table on page 47 of the Report. CONCLUSION Our conclusion has been formed on the basis of, and is subject to, the matters outlined in this report. We believe that the evidence we have obtained is sufficient and appropriate to provide a basis for our conclusion . Based on the procedures performed and evidence obtained, nothing has come to our attention that causes us to believe that the Description of Implementation as described above and disclosed in the Report as at December 31, 2022, has not been prepared and presented, in all material respect, in accordance with the Applicable Criteria, current as at the date of this report. Chartered Professional Accountants, Licensed Public Accountants April 12, 2023