Message from our CEO 65 Report Highlights SUSTAINABLE INVESTMENT OPPORTUNITIES About Franco-Nevada As a company with a diversified royalty and streaming portfolio, we are well positioned to participate in sustainable investment opportunities arising in connection with the transition to a low-carbon economy. The following describes sustainable investment opportunities that we have already embraced in our portfolio and that we expect will continue to be available to our company in the short, Responsible medium and long-term. Capital Allocation Products and Services Our investments in commodities used for low emission products and services may increase revenues and bring competitive advantage due to the increased demand from shifting consumer preferences. Community Contributions Good Governance and Shareholder Alignment Diversity, Inclusion and Well-Being Climate Action Transparency and Copper: Nickel and Clean Energy Metals: Guiding Principles With its superior electrical and thermal copper concentrates. In 2021, we acquired While most of the global demand for nickel Technologies involved in the clean energy conductivity, copper will play a significant role another precious metal stream from the is for the production of stainless steel, nickel transition are emerging and advancing rapidly About this ESG Report in enhancing energy efficiency and decarbonizing Condestable copper mine in Peru and, sulphate, a highly purified nickel compound through innovation and increased deployment. the planet. A 2017 World Bank report* counted in 2022 and 2023, acquired, in several that helps achieve higher energy density in Over the past several years, our company Appendices dozens of metals that could see a growing market acquisitions, an effective royalty on the lithium-ion batteries, extending the driving has evaluated cobalt, lithium, rare earth, with the increasing reliance on renewable and Caserones copper-molybdenum mine in range of electric vehicles, is expected to uranium and other battery metal and clean A: ESG Performance Table sustainable energy sources. Copper ranked first Chile. Strong demand for copper increases become the second largest application for energy opportunities. In particular, we are B: Operators’ Emissions (tied with aluminum and nickel) among all metals the prospects of greater production from nickel by 2030. Our company has royalties building capabilities to evaluate lithium for its prevalence in low-carbon technologies, these operations. We also have royalties on on nickel projects, including the Mt. Keith opportunities, which are in many ways C: TCFD Disclosure including in wind, solar photovoltaic, carbon a number of prospective copper development nickel mine in Australia, Eagle’s Nest deposit geologically and technically dissimilar to D: SASB Disclosure capture and storage, nuclear power, light emitting projects, including Copper World (Hudbay), in the Ring of Fire in Ontario, Canada and precious and base metals projects. E: GRI Index diodes, electric vehicles and electric motors. Alpala (SolGold), Taca Taca (First Quantum) the Crawford nickel-cobalt project in Ontario, and NuevaUnión (Teck and Newmont). We Canada. These projects are poised to benefit F: Sustainable Franco-Nevada’s top revenue generating stream expect that in the future there will be further from the increasing demand for nickel and Development Goals interests are from copper mines, including opportunities for our company to fund copper we expect to see more opportunities to fund G: KPMG: Independent certain of our Top Mining Assets (Cobre Panamá, operations, to receive interests in copper nickel and other battery metal projects. Limited Assurance Report Antapaccay, Antamina and Candelaria) where and/or precious metal by-products. we receive precious metal by-products from H: Carbon Neutral Initiative * “The Growing Role of Minerals and Metals for a Low-carbon Future”, World Bank Group, June 2017.