2022 ASSET HANDBOOK 110 FNV TSX NYSE 2021 2020 2019 Revenue to Franco-Nevada ($ million) $ – $ – $ – P&P Reserves (Mlbs Cu) 1, 3 5,328 5,328 5,328 M&I Resource (Mlbs Cu) 1, 3 10,915 8,757 8,757 Inferred Resource (Mlbs Cu) 1, 3 1,539 412 412 P&P Royalty Ounces (000s) 2, 3 181 136 171 M&I Royalty Ounces (000s) 1, 2, 3 372 223 281 Inf Royalty Ounces (000s) 2, 3 52 11 13 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 99% (100% in 2020, 100% in 2019) of the Mineral Reserves and Mineral Resources are subject to our royalty interest and estimate a rate of 1.772% in 2021 (1.275% in 2020, 1.275% in 2019) (which factors a NSR smelting charge of 15%). Copper has been converted to Royalty Ounces assuming $3.50 per pound ($3.50 in 2020, $3.00 per pound in 2019) 3 Does not include silver or molybdenum Mineral Reserve and Mineral Resource estimates Rosemont/Copper World Cu, Mo, Ag, Au Arizona, United States Operator: Hudbay Minerals Inc. Royalty: NSR: 2.085% Diversified Franco-Nevada has a 2.085% NSR royalty covering all metals, including copper, molybdenum, silver and gold extracted from the majority of claims covering the Rosemont project and Copper World deposits in Pima County, approximately 30 miles southeast of Tucson, Arizona. Hudbay Minerals Inc. (“Hudbay”) is the operator of the asset following its acquisition of Augusta Resource Corporation. The broader Rosemont property contains the Rosemont deposit along with seven other mineral deposits over a 7 km strike area, known as Copper World. The property is situated near a number of large porphyry style producing copper mines. In November 2021, Franco-Nevada acquired an existing 0.585% NSR royalty interest on the Rosemont copper project from certain private sellers. The royalty has identical terms as an existing 1.5% NSR royalty that Franco-Nevada held and covers the same land package, including most of the Copper World deposits. Hudbay received the Final Record of Decision (“FROD”) for the Rosemont project in June 2017 and, in March 2019, received the Section 404 Water Permit from the U.S. Army Corps of Engineers. In July 2019, the U.S. District Court for Arizona issued a ruling that vacated the FROD issued by the U.S. Forest Service. As a result, the construction of Rosemont was suspended. Hudbay has appealed the ruling and is awaiting a decision from the U.S. Court of Appeals for the Ninth Circuit. As Hudbay evaluates next steps for the Rosemont project, the company continues to advance the Copper World deposits (including Bolsa, Broad Top Butte, Copper World, Peach, Elgin, South Limb and North Limb) which are largely on private land covered by Franco-Nevada’s royalty. In December 2021, Hudbay announced an initial mineral resource estimate at its Copper World project, Franco-Nevada’s royalty covers all metals, including copper, molybdenum, silver and gold Exploration and development studies focused on Copper World targets on private land In production, the Rosemont project will be one of the largest copper mines in the United States of 272 million tonnes at 0.36% copper of Indicated Mineral Resources and 142 million tonnes at 0.36% copper of Inferred Mineral Resources. The resources are comprised of both oxide and sulphide mineralogy and are potentially amenable to heap leach and flotation processing, respectively. A preliminary economic assessment is underway contemplating the development of the Copper World deposits in conjunction with the Rosemont deposit. Results are expected in the first half of 2022, followed by additional drilling and the commencement of a prefeasibility study. DIVERSIFIED ASSETS Diversified Assets – Other Mining Rosemont/Copper World, Arizona