2022 ASSET HANDBOOK 90 FNV TSX NYSE PRECIOUS METALS 2021 2020 2019 Revenue to Franco-Nevada ($ million) $ 11.1 $ 9.6 $ 7.7 P&P Reserves (koz Au) 1 1,990 1,540 1,892 M&I Resource (koz Au) 1 3,950 4,160 4,373 Inferred Resource (koz Au) 1 610 500 749 P&P Royalty Ounces (000s) 2 37 29 35 M&I Royalty Ounces (000s) 1, 2 72 77 80 Inf Royalty Ounces (000s) 2 11 9 14 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 93% (93% in 2020, 93% in 2019) of Mineral Reserves and 91% of the Mineral Resources (92% in 2019, 91% in 2019) are subject to our royalty interest and estimates a rate of 2.0% is applicable Duketon Au Australia, Rest of World Operator: Regis Resources Ltd. Royalty: NSR: 2% Precious Metals Franco-Nevada has a 2% NSR royalty that covers 2,678 km 2 of the Duketon gold project in Western Australia. The project is operated by Regis Resources Ltd. (“Regis”) and includes ten operating mines and six other deposits at various stages of development. The royalty covers all known Mineral Reserves and Mineral Resources, except for the Gloster, Ben Hur and Anchor satellite deposits and portions of the Erlistoun, Dogbolter and Petra satellite deposits. Regis reported production of 330,480 ounces of gold for 2021 and provided production guidance of 300,000 to 340,000 ounces of gold for the fiscal year ending June 30, 2022. During 2021, approximately 90% of total Duketon production was subject to Franco-Nevada’s royalty and a similar portion is expected in 2022. Duketon South Operations (“DSO”): Regis reported DSO production of 258,229 ounces of gold for calendar year 2021. All of DSO production was subject to Franco-Nevada’s royalty in 2021. DSO has five operating mines at Garden Well, Rosemont, Erlistoun, Tooheys Well and Banyego. Franco-Nevada’s royalty covers all of DSO’s Mineral Reserves and Mineral Resources, except for Ben Hur and a small portion of Erlistoun. DSO production began in 2012 at Garden Well which has a 5 Mt per annum plant. Rosemont has a 2.5 Mt per annum plant and milled ore from Rosemont is piped 10 km in a slurry form for leaching at Garden Well. Ore from satellite deposits at Erlistoun, Tooheys Well and Banyego is hauled to Garden Well for processing. Garden Well Underground development commenced in March 2021, with first production expected March 2022. In January 2022 heavy rains caused a pit wall failure and halted production at the Rosemont Main Pit, which had been due for completion in June 2022. Production at Rosemont Underground and Rosemont North Pit was not affected. Duketon North Operations (“DNO”): Regis reported DNO production of 72,251 ounces of gold for calendar year 2021. DNO has five operating mines at Moolart Well, Gloster, Dogbolter, Anchor and Petra. Moolart Well has been in production since 2010 and has a 2.5 Mt per annum plant. Moolart Well is covered by Franco-Nevada’s royalty, but has provided only a small portion of ore to the Moolart Well mill since 2016. The majority of ore processed through the Moolart Well plant since 2016 comes from four satellite deposits. Gloster and Anchor satellite deposits are not covered by Franco-Nevada’s royalty. Dogbolter and Petra satellite deposits are partially covered by Franco-Nevada’s royalty. Approximately 54% of DNO production was subject to Franco-Nevada’s royalty in 2021. Exploration: With an extensive land position and an active exploration program, Regis continues to add to the overall Mineral Reserves and Mineral Resources at Duketon. Significant exploration projects advanced in 2021 include resource extensions at Garden Well South and Rosemont Underground. Rest of World Garden Well Underground development commenced March 2021 with first production expected March 2022 Extensive land position and active exploration program Deposits Duketon Royalty Area 2% NSR Km 0 30 Location M ap PERTH Por t Hedland Kalgoorlie Norseman Kambalda Baneygo Erlistoun King John Garden Well Dogbolter Gloster Moolart Well Petra Rosemont Reichelts Find Current Royalty Tenements Original Royalty Tenements * Additional royalty lands to south not shown due to scale. N Russells Find Tooheys Well Duketon, Australia