Message from our CEO 64 Report Highlights Resilience of Our Portfolio About Franco-Nevada Our exposure to climate-related risks is 2024 GEOs Diversification* substantially mitigated by the diversification Responsible of our royalty and stream portfolio. No one Capital Allocation operator or asset contributed more than 20% Commodity Geography Assets of our total 2023 revenues, which mitigates operator-specific or localized climate-related Community risks (e.g. reputational, acute physical and Contributions local regulatory and legal risks). We also receive revenues from various commodity Good Governance and types produced in a multitude of jurisdictions, Shareholder Alignment which mitigates risks impacting broader regions and markets (e.g. chronic physical, country-wide regulatory and legal, and market Diversity, Inclusion risks). While we do have significant exposure and Well-Being to gold, broader market and reputational climate-related risks which may impact the Climate Action gold industry are further mitigated through our rigorous due diligence process geared Gold Oil Canada and USA Candelaria Vale Transparency and towards investing in best-in-class operators, Silver Gas South America Antapaccay Energy many of whom have already set long-term PGM NGL Antamina Other Guiding Principles climate-related goals and commenced Mexico and Central America low-carbon transitions. Other Rest of the World Guadalupe- About this ESG Report Mining Palmarejo Certain mitigation factors are also inherent * The above charts are based on the commodity price and other assumptions used for our 2024 guidance. Appendices with our business model. For example, as a royalty and stream company, we are a free A: ESG Performance Table cash flow business without direct exposure B: Operators’ Emissions to operating, capital or closure costs. C: TCFD Disclosure • In the short and medium-term, any climate- • Most of our assets are non-cost bearing. Due to the breadth and diversification of our is further mitigated by factors inherent in our D: SASB Disclosure related cessation of production at an In the long term, other than an asset portfolio, our exposure to climate-related events, business portfolio, including those eliminating E: GRI Index operation in which we have a royalty or becoming uneconomic, we are generally trends or sentiments adversely impacting a cost exposure in respect of our assets, stream interest can be viewed as deferral insulated from rising costs, including those particular project or operator or more broadly and our high standards and rigorous due F: Sustainable of revenue for our company realizable related to carbon pricing, associated with adversely affecting a commodity type or diligence processes geared toward investing Development Goals upon re-commencement of production. the transition to a low carbon economy. jurisdiction is reduced. Climate risk exposure in best-in-class operators and operations. G: KPMG: Independent Limited Assurance Report H: Carbon Neutral Initiative