Message from our CEO TAILINGS MANAGEMENT 13 Report Highlights Top Mining Assets: With several major disasters occurring in the Responsible tailings management requires 1, 2 About Franco-Nevada Selected Tailings Dam Characteristics last decade, tailings dams have been under operators to consider the management and Number increased regulatory scrutiny and have triggered governance of tailings storage facilities Asset of active Tailings Classification an international response. In 2019, the Church throughout their lifecycle, from design to Responsible tailings dams dam types system adopted of England Pensions Board and the Council closure and post-closure. When deciding Capital Allocation on Ethics of the Swedish National Pension where to deploy capital, depending on the Cobre Panamá 1 Downstream/ Canadian Dam Funds wrote to mining companies, requesting stage of development of an applicable (Panamá) centreline hybrid (1) Association Due Diligence Process disclosure of details of their tailings storage project, Franco-Nevada reviews all aspects Ongoing Asset Management Candelaria SERNAGEOMIN DS facilities and identifying the lack of a global of a project’s planned or existing waste and (Chile) 2 Downstream (2) 248/2007 and DGA tailings management standard as one possible tailings storage facilities. When negotiating new Key ESG Factors Decreto 50 (2015), Chile contributor to the recent disasters. The Global royalty or stream acquisitions, we endeavour Health and Safety Antapaccay 1 Downstream (1) Global Industry Standard Industry Standard on Tailings Management to negotiate contractual arrangements such (Peru) on Tailings Management (the “Global Standard”) was launched in that the operator commits to implement Carbon Footprint August 2020, aimed towards the goal of zero the Global Standard or another equivalent Water Management and Risk Antamina 1 Downstream/ Canadian Dam harm. Nine of our ten Top Mining Producers international tailings standard in respect to (Peru) centreline hybrid (1) Association Tailings Management have since agreed to fully implement the Global their tailings storage facilities and to provide Northern and Downstream (14), Ordinance 70.389/17 - Standard or have otherwise adopted the Towards Franco-Nevada with ongoing reporting with Biodiversity Southeastern Systems 49 single step (23), ANM (Mining National 3 Sustainable Mining (TSM) framework, with the respect to adherence to such standards. (Brazil) upstream (12) Agency), Brasil Supply Chain remaining one Top Mining Producer (Harmony Guadalupe-Palmarejo 1 Downstream (1) Canadian Dam Gold) implementing certain aspects of the On this page, we have highlighted certain (Mexico) Association Community Global Standard. Further, comprehensive attributes of the tailings storage facilities Contributions MWS 1 Upstream (1) SANS 10286, information relating to all our Top Mining for our Top Mining Assets. (South Africa) South Africa Assets’ tailings dams have been made publicly available by our Top Mining Producers Good Governance and Stillwater 3 Downstream (3) US Army Corp and is available on the Global Tailings Portal Shareholder Alignment (USA - Montana) of Engineers (tailing.grida.no). Detour Lake 1 Centreline (1) Canadian Dam Diversity, Inclusion (Canada - Ontario) Association and Well-Being Tasiast Downstream Canadian Dam (Mauritania) 1 ring dyke (1) Association Climate Action Transparency and “Nine of our ten Top Mining Producers have since agreed to fully Guiding Principles implement the Global Industry Standard on Tailings Management or have About this ESG Report otherwise adopted the Towards Sustainable Mining (TSM) framework...” Appendices 1 Tailings data sourced from Global Tailings Portal and Vale S.A. reporting. 2 Vale S.A. figures include tailings, sediment dams and other similar internal structures. Many of Vale's tailings dams are compliant with the Global Industry Standard on Tailings Management, with additional dams scheduled to be compliant by 2025. 3 Tailings dams are on the entirety of the Northern and Southeastern Systems and not necessarily covered by Franco-Nevada’s effective royalty grounds. Includes dams undergoing decharacterization.