FRANCO-NEVADA CORPORATION 89 THE GOLD INVESTMENT THAT WORKS PRECIOUS METALS DIVERSIFIED ASSETS RESERVES AND RESOURCES ADDITIONAL INFORMATION 2021 2020 2019 Revenue to Franco-Nevada ($ million) $ 9.9 $ 28.9 $ 20.2 P&P Reserves (koz Au) 1 158 293 764 M&I Resource (koz Au) 1 1,898 2,042 2,655 Inferred Resource (koz Au) 1 679 681 772 P&P Royalty Ounces (000s) 2 6 11 35 M&I Royalty Ounces (000s) 1,2 74 80 108 Inf Royalty Ounces (000s) 2 26 27 30 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 2 100% of the Mineral Reserves & Mineral Resources at Karma are subject to a rate of 3.9% (6.5% gold stream which is factored by 80% to equate to a Royalty Ounce as well as Franco-Nevada’s 75% interest) Karma Au Burkina Faso, Rest of World Operator: Néré Mining SA Stream: 4.875% Gold Stream Precious Metals In August 2014, Franco-Nevada (Barbados) Corporation, a subsidiary of Franco-Nevada, and Sandstorm Gold Ltd. (“Sandstorm”) committed to provide up to $120 million in stream financing to assist the construction of the Karma Project in Burkina Faso, West Africa, in a syndicated stream transaction. Franco-Nevada committed 75% of the funding and Sandstorm committed the remaining 25%. Franco-Nevada ultimately contributed $78.75 million ($75 million with $3.75 million as part of the incr ease option). The Karma Project was constructed by True Gold Mining Inc. which was acquired by Endeavour in March 2016. In March 2022, Endeavour announced the sale of its 90% interest in Karma to Néré Mining SA (“Néré”). Under the stream financing agreement, Endeavour delivered to Franco-Nevada 15,000 ounces of gold per year, beginning in March 2016 through to the end of February 2021, for a total of 75,000 ounces of gold delivered. The increase option was repaid in 8 quarterly deliveries totaling 5,625 ounces of gold by Q1 2019. Rest of World Prospective land package of 856 km 2 Trailing 4.875% gold stream in place N Kilometres 0 10 Karma Gold Stream Karma Project Area Area of Interest 5 km Current Exploitation Area Bonguirga Tougou Bogoya Youba Rounga Kao Nord Kao Sud Ouahigouya Burkina Faso North Kao Gold Zone Kao Pit Nami Pit Rambo Pit Goulagou I Pit Goulagou II Pit Nami Pit Kao Pit Namissiguima Ouest Atlantic Ocean BURKINA FASO COTE D’IVOIRE GHANA TOGO BENIN NIGERIA NIGER MALI ALGERIA Karma Sandstorm receives deliveries for its 25% interest directly. After February 2021, Endeavour and now, Néré, shall deliver to Franco-Nevada an amount of gold equal to 4.875% of the gold produced at Karma over the life of the mine in exchange for ongoing payments equal to 20% of the spot price of gold. The Karma Project started production in 2016 and in 2021 produced 88,000 gold ounces. The stream agreement covers all of the concessions within the 856 km 2 Karma Project and also includes a defined area of interest of 5 km surrounding the borders of the project. In 2021, limited exploration work continued as part of an advanced grade control drilling program, targeting near mine extensions to be added into the current mine plan. The focus was on the Kao North area, Rambo, GG1, Anomaly B and Kanongo. Karma, Burkina Faso