Message from our CEO KEY ESG FACTORS 8 Report Highlights In the preceding pages of this ESG Report, we described the many ESG-related factors Top Mining Assets About Franco-Nevada that we evaluate when making acquisitions, some of which we continue to monitor Responsible with our existing assets. At Franco-Nevada, Capital Allocation we prioritize the following five ESG-related factors relating to investments, which Stillwater, Montana, Detour Gold, Ontario, U.S. Canada Due Diligence Process are described in further detail in the Ongoing Asset Management following sections: Tasiast, Key ESG Factors Mauritania • Health and Safety: Health and Safety We are focused on the health and safety track records of the operators Guadalupe-Palmarejo, Cobre Panamá, Carbon Footprint and operations where we look to Mexico Panamá Water Management and Risk deploy capital. Tailings Management • Carbon Footprint: Antamina, Biodiversity Peru We evaluate the carbon footprints and Northern and climate-related commitments, targets and Southeastern Systems, Supply Chain Brazil initiatives of operators and operations. Antapaccay, Peru Community Contributions • Water Management and Risk: Candelaria, Mine Waste Solutions, We are attentive to water-related issues Chile South Africa Good Governance and and risks impacting all applicable aspects Shareholder Alignment of the mining lifecycle. • Tailings Management: Diversity, Inclusion We review all aspects of a project’s and Well-Being planned or constructed waste and tailings storage facilities, including Climate Action implementation of, and adherence to, international tailings standards. For each of these five key factors, we have The Top Mining Assets highlight the The Top Mining Assets are owned and Transparency and included an assessment of how the top 10 diversification of our royalty and stream operated by 10 different Top Mining • Biodiversity: revenue generating mining assets in our portfolio. They operate in nine countries, Producers, with primary listings on Guiding Principles We review the impact on biodiversity portfolio (the “Top Mining Assets”) and, produce gold, silver, copper, zinc, PGM, five stock exchanges and having and ecosystems throughout the where applicable, the operators of such iron ore, among other commodities, an aggregate market capitalization About this ESG Report lifecycle of a project. assets (the “Top Mining Producers”), and contributed approximately 64% of approximately $200 billion. have performed. of our overall revenue in 2023. Appendices