3 NEW EMISSION REDUCTION TARGETS We have adopted emission reduction targets for our corporate emissions in line with our goal to achieve net-zero emissions by 2050 or sooner. The targets include a 42% reduction of our Scope 1 and 2 emissions by 2030 and a 30% reduction of our overall corporate emissions (Scope 1, 2 and 3, excluding financed emissions) by 2030, each from a 2023 base year. We have advanced the implementation of measures and programs to reduce our carbon footprint in furtherance of our emission reduction targets. Read more à (page 35) OUR SCOPE 3 EMISSIONS INCLUDE FINANCED EMISSIONS We have measured and disclosed financed GHG emissions attributable to our royalty and stream interests, included as Scope 3, Category 15 (Investments) emissions. In this ESG Report, we include a primer for navigating the Greenhouse Gas Protocol standards, including what comprises Scope 1, 2 and 3 emissions. Read more à (page 41) Message from our CEO Report Highlights About Franco-Nevada Responsible Capital Allocation Community Contributions Good Governance and Shareholder Alignment Diversity, Inclusion and Well-Being Climate Action Transparency and Guiding Principles About this ESG Report Appendices MAINTAINED CARBON NEUTRALITY FOR CORPORATE EMISSIONS Since 2020, we have maintained carbon neutrality for our corporate operations. We have accomplished this, and will continue to do so through the reduction of our corporate GHG emissions and the purchase of high quality carbon credits to offset emissions that cannot be eliminated. Read more à (page 35) ALIGNMENT OF ESG REPORTING WITH TCFD, SASB AND GRI Our ESG disclosure is aligned with leading reporting standards and frameworks, including the Sustainability Accounting Standards Board and Global Reporting Initiative standards and the Task Force on Climate-related Financial Disclosures framework. Read more à (page 43) INITIATIVES ALIGNED WITH UN SUSTAINABLE DEVELOPMENT GOALS Initiatives across our business help advance a number of the Sustainable Development Goals, which were adopted by the United Nations in 2015 as a universal call to action to end poverty, protect the planet, and ensure that by 2030 all people enjoy peace and prosperity. Read more à (page 44) CONTINUED HIGH RANKINGS AND RECOGNITION FROM ESG RATING AGENCIES We continue to receive recognition for our ESG efforts and rank highly with top ESG rating agencies. Franco-Nevada is the #1 ranked precious metals company and the #1 ranked gold company by Sustainalytics. We are rated “AA” by MSCI and “Prime” by ISS ESG. Read more à (page 47) Commerce Court West, Toronto