Message from our CEO WATER MANAGEMENT AND RISK 12 Report Highlights Top Mining Assets: Sustainable water management is critical Using World Resource Institute’s (WRI) Aqueduct Overall Water Risk and Water Intensity 1, 2 within the mining industry. In our due tool, we have identified the overall water risk for About Franco-Nevada diligence assessments of new royalty and the areas where each of our Top Mining Assets Water consumption stream opportunities, Franco-Nevada pays are located, which measures all water-related 3 Asset Overall Water Risk intensity 3 Responsible (m /GEO produced) particular attention to water-related issues risks, including physical quantity, quality and Capital Allocation and risks impacting all applicable aspects regulatory and reputational risk. Cobre Panamá Low-Medium 25.1 of the mining lifecycle, including: (Panamá) Due Diligence Process Water intensity is one measurement that Ongoing Asset Management Candelaria High 19.2 • management of water to access ore can be used to monitor trends in water use (Chile) through dewatering; efficiency at a project. Water intensity is Key ESG Factors • water use for ore processing and recovery particularly important in areas of water Health and Safety Antapaccay Low-Medium 37.9 from mine tailings; scarcity and/or where there are competing (Peru) Carbon Footprint • provision of potable water and sanitation interests for water availability. Antamina Low-Medium 22.9 facilities for employees and communities; Water Management and Risk (Peru) • discharge of water back to the environment; In the case of the mining sector, the metric Tailings Management • interaction with marine water resources is commonly expressed as the amount of Northern and Southeastern Low-Medium 1.7 at port facilities; and water used per GEO produced. On this page, Biodiversity Systems (Brazil) • utilization and desalination of marine water. we have set out the 2022 water intensities Supply Chain Guadalupe-Palmarejo Low-Medium 35.9 for each of our Top Mining Assets, measured (Mexico) 3 as the cubic metres (m ) of water used per Community “...Franco-Nevada pays GEO produced. MWS Medium-High 77.7 Contributions (South Africa) particular attention Water intensities for our Top Mining Assets Good Governance and Stillwater Low-Medium 17.1 to water-related issues have been benchmarked against McKinsey (USA - Montana) global mining industry average for 2022. Shareholder Alignment and risks impacting all For the sake of simplicity, we have indicated Detour Lake Low 25.6 where such statistics are average, better (Canada - Ontario) applicable aspects of Diversity, Inclusion than average, or below average. and Well-Being Tasiast Extremely High 10.1 the mining lifecycle...” (Mauritania) Climate Action 4 Better than average Average Below average Legend (10% of industry average) Transparency and Guiding Principles 1 Figures in this table are estimated water consumption intensities of our Top Mining Assets. Such data only relates to dust suppression and processing water based on beneficiation method and excludes water attributable to pit dewatering, product About this ESG Report transportation, waste management, and cooling. Unless otherwise noted, such information has been provided by MineSpans (outside-in modeled data - all rights reserved). 2 Water consumption 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. 3 Source: World Resource Institute’s (WRI) Aqueduct tool. Overall water risk measures all water-related risks, by aggregating all selected indicators from the following Aqueduct categories: Physical Quantity, Quality and Regulatory & Reputational Risk. 4 3 3 3 3 Appendices Source: McKinsey global mining average water consumption intensities for 2022: 26.3 m /GEO produced for copper assets, 60.6 m /GEO produced for gold assets, 2.4 m /GEO for iron ore assets, and 21.1 m /GEO for other commodities.