FRANCO-NEVADA CORPORATION 13 THE GOLD INVESTMENT THAT WORKS OVERVIEW PRECIOUS METALS DIVERSIFIED ASSETS RESERVES AND RESOURCES ADDITIONAL INFORMATION Our Business Optionality Potential for exploration success on 63,000 km 2 Focus on Growth Management not occupied with operational decisions Free Cash Flow Business Not exposed to capital calls Limited Cost Inflation Streams/NSRs not exposed to cost inflation High Margins & Low Overhead Strong cash generation throughout the commodity cycle Diversified Portfolio Non-operating business is more scalable We own and continue to grow a large, diversified portfolio of royalties and streams. “ ” BUSINESS MODEL ADVANTAGES