FRANCO-NEVADA CORPORATION 113 THE GOLD INVESTMENT THAT WORKS DIVERSIFIED ASSETS RESERVES AND RESOURCES ADDITIONAL INFORMATION Diversified Assets – Other Mining 2021 2020 2019 Revenue to Franco-Nevada ($ million) $ 2.3 $ 1.2 $ 1.7 P&P Reserves (Mlbs Ni) 1 1,087 1,135 1,187 M&I Resource (Mlbs Ni) 1 2,390 2,442 2,452 Inferred Resource (Mlbs Ni) 1 275 275 275 P&P Royalty Ounces (000s) 2 19 16 22 M&I Royalty Ounces (000s) 1, 2 42 34 44 Inf Royalty Ounces (000s) 2 5 4 5 1 Please refer to the tables on pages 128-136 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 For Royalty Ounce calculation, Franco-Nevada estimates 100% of the Mineral Reserves and Mineral Resources are subject to our royalty interest and estimates a rate of 0.50% is applicable. Franco-Nevada has also applied a NSR smelting charge of 30%. Nickel has been converted to Royalty Ounces assuming $9.00 per pound ($7.00 per pound in 2020, $7.25 per pound in 2019) Mt Keith Ni Australia, Rest of World Operator: BHP Billiton Limited Royalty: NPI: 0.25% / GR: 0.375% Diversified Franco-Nevada has a 0.375% gross royalty and a 0.25% NPI royalty on lands including the Mt Keith nickel operation in Western Australia, located 460 km north of Kalgoorlie. BHP Billiton Limited (“BHP Billiton”) is the operator and the project is a large, low-grade disseminated nickel sulphide ore body with an open-pit mine. Franco-Nevada’s royalties cover 236 km 2 and includes the Jericho Nickel Deposit located approximately 25 km northwest of Mt Keith, and covers part of the Yakabindie Deposits located approximately 25 km south of Mt Keith. Mining commenced in 1993 with the first nickel concentrate produced in 1994. In June 2021, BHP Billiton reported that Mt Keith had an estimated mine life of 15 years. Mt Keith concentrator ore throughput is approximately 11.5 Mtpa with 64% recoveries. Production capacity is 35,000-40,000 tonnes per annum of nickel in concentrate. Mt Keith is part of Nickel West, BHP Billiton’s integrated business unit for Australian nickel assets, along with four other mines, a concentrator, a smelter and a refinery. BHP Billiton reported that Mt Keith total production for 2021 was 27,943 tonnes of nickel. During 2019, BHP Billiton developed the Goliath and Six Mile Well Nickel Deposits at Yakabindie as satellite operations. Franco-Nevada’s royalty does not cover Goliath or the southern half of Six Mile Well. It is estimated that royalty area production accounted for 84% of Mt Keith total production in 2021. Yakabindie satellite deposits are expected to provide the majority of ore to the Mt Keith concentrator going forward. In August 2018, BHP Billiton commenced a concept study to expand the Mt Keith concentrator to 50,000 tonnes per annum of nickel in concentrate. 15-year mine life at Mt Keith Yakabindie satellite deposits developed in 2019 - largely outside royalty area Study to expand Mt Keith concentrator to 50,000 tonnes per annum Exploration upside on large land package N Albion Downs Jericho Mt Keith Cliffs Yakabindie Kingston Royalty Area Total: 236.5 km 2 122.5 km 2 Mt Keith Kingston Royalty Area Perth Wiluna Port Hedland Kalgoorlie Mt Keith Royalty Area 114 km 2 Kilometres O 5 10 Mt Keith, Australia