Message from our CEO CARBON FOOTPRINT 10 Report Highlights Top Mining Assets: As mining and energy companies continue We have calculated emission intensities for 1, 2 About Franco-Nevada 2022 Scope 1 & 2 GHG Emission Intensity their effort to decarbonize greater climate- our Top Mining Assets on a gold equivalent GHG emission Industry average GHG related action and transparency will also ounce (“GEO”) basis, which will be useful GHG emission intensity emission intensity follow. We carefully observe the carbon for a comparison between each of our Top Asset intensity (tCO e/unit of primary (tCO e/unit of primary 3 2 2 (tCO e/GEO produced) Responsible 2 4 6 footprints and climate-related commitments, Mining Assets, notwithstanding the different metal produced) metal produced) Capital Allocation targets and initiatives of the operators and commodities produced. We have also calculated Cobre Panamá 1.41 7.02 tCO /t Cu 3.30 tCO /t Cu operations in which we look to deploy capital emission intensities for our Top Mining Assets (Panamá) 2 2 Due Diligence Process (for further information, please see the based upon the applicable unit of the primary Ongoing Asset Management Candelaria section entitled Due Diligence Process). economic metal produced by each Top Mining 0.70 3.63 tCO /t Cu 3.30 tCO /t Cu (Chile) 2 2 We also track these attributes for certain Asset. Such emission intensities have been Key ESG Factors of our interests after acquisition. benchmarked against 2022 mining industry Antapaccay 0.54 2.76 tCO /t Cu 3.30 tCO /t Cu averages for each applicable commodity. Health and Safety (Peru) 2 2 Carbon Footprint On this page, we have set out the 2022 GHG For the sake of simplicity, we have indicated Antamina emission intensity for each of our Top Mining where such statistics are average, better 0.26 1.63 tCO /t Cu 3.30 tCO /t Cu Water Management and Risk (Peru) 2 2 Assets. GHG emission intensity is measured as than average, or below average. the tonnes of Scope 1 and 2 CO e emissions Tailings Management Northern and 2 Southeastern 0.30 0.01 tCO /t Fe 0.03 tCO /t Fe per unit of production produced (“emission While a comparison of the emission intensities 2 2 Biodiversity Systems (Brazil) intensity”) from such Top Mining Assets. of our Top Mining Assets against industry Supply Chain Guadalupe-Palmarejo average benchmarks (by applicable commodity) 0.43 0.43 tCO /oz Au 0.75 tCO /oz Au 5 2 2 (Mexico) can offer valuable insights, the carbon intensity Community “...we carefully observe and decarbonization challenges for mining and MWS 1.74 1.74 tCO /oz Au 0.75 tCO /oz Au energy companies will vary by jurisdiction Contributions (South Africa) 2 2 the carbon footprints and with physical characteristics of projects, Stillwater and climate-related including depth of deposits and ore grades. 0.31 0.35 tCO /oz PGM 0.85 tCO /oz PGM Good Governance and (USA - Montana) 2 2 commitments, targets and Our Top Mining Assets operate in nine different Shareholder Alignment countries and use various mining methods. Detour Lake 0.37 0.37 tCO /oz Au 0.75 tCO /oz Au initiatives of the operators (Canada - Ontario) 2 2 Diversity, Inclusion and operations in which On the next page, we set out the decarbonization and Well-Being Tasiast commitments, targets, and initiatives adopted 0.70 0.70 tCO /oz Au 0.75 tCO /oz Au (Mauritania) 2 2 we look to deploy capital...” by our Top Mining Producers. Climate Action 6 Better than average Average Below average Transparency and Legend (10% of industry average) Guiding Principles 1 Figures in this table are estimated Scope 1 and Scope 2 GHG emission intensities of our Top Mining Assets. Unless otherwise noted, the underlying emission data has been provided by MineSpans (outside-in modeled data - all rights reserved). 2 GHG emission intensity (i) is provided on a 100% basis, notwithstanding that the applicable operation may be jointly owned by the referenced operator, and (ii) applies to the entire project. About this ESG Report 3 Calculated as the aggregate Scope 1 and Scope 2 GHG emissions from the Top Mining Asset divided by the number of GEOs produced by such asset. Copper, PGMs, iron ore, and other commodities are converted to GEOs by dividing associated revenue for such commodity by the gold price. 4 Calculated as the aggregate Scope 1 and Scope 2 GHG emissions from the Top Mining Asset divided by the total production volume of the primary production (excluding by-products) of such asset. Appendices 5 Given the balanced gold and silver production at Guadalupe-Palmarejo, we have converted silver to GEOs, which are included with gold ounces in both emission intensity calculations. 6 GHG emission intensity averages apply to primary production from mining. Such averages exclude mid-stream processing, other than for iron ore, which includes production from certain integrated pelletizing plants. Sources: McKinsey global mining industry GHG emission intensities for 2022 for Cu, Au and 62% Fe; International Platinum Group Metals Association for PGMs.