FRANCO-NEVADA CORPORATION 119 THE GOLD INVESTMENT THAT WORKS Energy–U.S. DIVERSIFIED ASSETS RESERVES AND RESOURCES ADDITIONAL INFORMATION 1 Revenue from October 1 st effective date until December 31, 2020 2 Production is referenced in barrels of oil equivalent, although is comprised mostly of natural gas 3 Percentage based on production revenue from each commodity 4 Inventory locations are based on third party reserve estimates for the Proved, Probable, Possible, and Contingent resource categories for currently producing formations In December of 2020, Franco-Nevada acquired a portfolio of royalty rights in the Haynesville natural gas play in Texas from Mesa Minerals Partners LLC, a Quantum Energy Partners portfolio company, for $135 million. The Haynesville represents one of the most active natural gas plays in North America, owing to its strong well performance and close proximity to infrastructure along the U.S. Gulf Coast, which reduces transportation costs. The royalties consist of approximately 2,740 net acres of mineral rights, located in Harrison and Panola counties and provide a perpetual interest in land. The royalty position is situated in a core area of the East Texas portion of the Haynesville, which represents a shallower part of the basin where the producing formation is thickest. The portfolio was assembled in strategic partnership with Rockcliff Energy II LLC (“Rockcliff”), which allowed for acreage to be selected on the basis of geologic quality as well as prioritization under the company’s drilling schedule. Approximately 75% of the royalty position is operated by Rockcliff, who has been the most active operator in the East Texas Haynesville. 2021 2020 2019 Revenue to Franco-Nevada ($ million) $ 38.5 $ 4.21 1 $ – Production (Mboe) 1 1,904 340 – Commodity Split (%) 2 Oil 1% 0% – Gas 97% 100% – NGL 2% 0% – Haynesville Natural Gas East Texas, United States Operator: Rockcliff Energy, Others Royalty : Various Royalty Rates Energy Natural gas exposure concentrated under strong operator Close proximity to U.S. Gulf Coast enhances economics Secure land title with proven production history Kilometres 0 15 N Harrison County Panola County Texas Haynesville FNV Royalty Acreage Haynesville Fairway Louisiana TEXAS Eagle Ford Barnett Haynesville-Bossier NEW MEXICO LOUISIANA OKLAHOMA ARKANSAS Regional Basins Tuscaloosa Fayetteville Woodford Spraberry Bend Permian Basin Anadarko Basin Ardmore Basin Arkomo Basin Fort Worth Basin Miles 0 10 The portfolio principally generates revenue from dry natural gas production and generated $38.5 million in 2021. During 2021, approximately 95 wells were drilled and completed on royalty lands. The land base has a potential inventory of 550 future well locations 4 implying approximately 6 years of additional drilling (based on the prior year drilling rate), followed by many years of additional production as the wells decline. The royalties also provide further development potential in the Cotton Valley formation, which may be further exploited in the future. The Haynesville portfolio has performed well since acquisition and the activity levels are expected to remain robust in 2022. Rockcliff Energy drill rig, East Texas