Tailings Management

Franco-Nevada supports responsible tailings management, requiring GISTM or TSM adoption by top operators and reviewing TSF practices before investing.

Franco-Nevada Corporation 13 1 Tailings data sourced from Global Tailings Portal and company reporting. 2 Tailings structure data (i) is provided on a 100% basis, notwithstanding that the applicable operation may be jointly owned by the referenced operator, and (ii) applies to the entire project. 3 All information pertaining to operators' review and management of their TSFs on this page has been sourced from the operators' public websites and other public disclosure documents. Franco-Nevada has not independently verified any data presented herein. 4 Tailings dams are on the entirety of the Northern and Southeastern Systems and not necessarily covered by Franco-Nevada’s effective royalty grounds. Includes dams undergoing decharacterization. Tailings Management Top Mining Assets: Tailings Structure Characteristics and Management 1, 2, 3 Asset Number of active tailings dams Tailings dam types Classification system adopted Tailings management Candelaria (Chile) 2 2 - Downstream SERNAGEOMIN DS 248/2007 and DGA Decreto 50 (2015), Chile Lundin Mining’s Tailings Management Standard includes a requirement for regular independent third-party tailings review boards (“ITRB”). ITRBs were established for all tailings facilities in 2022. Antapaccay (Peru) 1 1 - Downstream GISTM For all ‘Very High’ and ‘Extreme’ consequence-classified TSFs, an ITRB is in place. Third-party assurance of TSFs is undertaken by internationally recognised leading dam consultants, typically on a rolling 12- to 18-month basis. Guadalupe- Palmarejo (Mexico) 1 1 - Downstream Canadian Dam Association Coeur's Responsible Tailings Management Policy requires that each TSF has a formally identified Responsible Tailings Facility Engineer, Engineer of Record, and an ITRB or a Senior Independent Technical Reviewer. MWS (South Africa) 1 1 - Upstream SANS 10286, South Africa Harmony maintains best practices through regular inspections, audits, and meetings, addressing concerns with the help of management, experienced contractors, and specialist engineers. Compliance is verified by annual International Mining Industry Underwriters for all South African TSFs, International Cyanide Management Institute audits every 18 months, biennial updates to the Department of Mineral Resources and Energy of South Africa, quarterly reports from consulting engineers, and third-party audits with oversight from an ITRB in Papua New Guinea. Antamina (Peru) 1 1 - Downstream/ centreline hybrid Canadian Dam Association Teck’s tailings storage facilities are overseen by ITRBs that review design, operation, and maintenance, which meet regularly, depending on the facility’s needs. Each facility has an updated Operations, Maintenance, and Surveillance manual and an Emergency Preparedness and Response Plan. Teck also has site-specific Tailings Management Systems that meet or exceed industry standards. Additionally, an ITRB is in place at Antamina, where Teck contributes senior experts to the Tailings Technical Committee. Northern and Southeastern Systems (Brazil) 4 51 16 - Downstream 23 - Single step 12 - Upstream Ordinance 70.389/17 - ANM (Mining National Agency), Brasil Vale requires periodic reviews of the physical and hydraulic safety conditions of dams, conducted by external and independent companies. These reviews comply with Brazilian legal requirements and commitments established with Brazilian authorities such as the Public Prosecutor's Office and the National Mining Agency. Additionally, ITRBs are required for all Vale dams and TSFs with high, very high, or extreme consequence classifications, and meetings are held at least annually or more frequently based on the complexity and performance of the structures. Subika (Ghana) 1 1 - Downstream, modified centreline Canadian Dam Association Newmont uses internal processes to guide tailings management opportunities. Multi-criteria alternatives analysis studies objectively compare options for sites, construction methods, and technologies, considering technical, environmental, social, and economic factors. These studies are supported by Newmont experts and external consultants, and reviewed by an ITRB or Senior Independent Technical Reviewer. Detour Lake (Canada - Ontario) 1 1 - Centreline Canadian Dam Association The Accountable Executive Officer for all Agnico Eagle TSFs reports annually to Agnico Eagle’s Board of Directors on compliance with regulatory and industry standards, ensuring that necessary resources are available. Independent Reviewers have been appointed to ITRBs to oversee most sites, and Responsible Persons and Engineers of Record are designated for all operating sites. Tasiast (Mauritania) 1 1 - Downstream ring dyke Canadian Dam Association Kinross’ tailings management program is rooted in technical excellence and a rigorous system of oversight, accountability and third-party independent review of its facilities. Independent review panels consist of a minimum of two reviewers. Tailings reviews are conducted at minimum every three years. Internal audits of Kinross’ tailings management program are conducted every three years. Condestable (Peru) 3 3 - Downstream In the process of implementing international standards (i.e. Canadian Dam Association & GISTM) Compañía Minera Condestable has obtained The Copper Mark certification, which is a prestigious recognition for responsible copper production. This certification involves a comprehensive evaluation process, including independent verification of various criteria with respect to, among others, environmental aspects (including those relating to TSFs). With several major disasters occurring in the last decade, tailings dams have been under increased regulatory scrutiny and triggered an international response. In 2019, the Church of England Pensions Board and the Council on Ethics of the Swedish National Pension Funds requested mining companies disclose details of their tailings storage facilities ("TSFs"), identifying the lack of a global tailings management standard as a possible contributor to recent disasters. The Global Industry Standard on Tailings Management (“GISTM”) was launched in August 2020, aimed at zero harm. Eight of our Top Mining Producers have agreed to fully implement the GISTM or adopt the Towards Sustainable Mining (TSM) framework, with the remaining two (Harmony Gold and Southern Peaks Mining) in the process of implementing or adapting to the GISTM or other international standards. Comprehensive information on all our Top Mining Assets’ tailings dams has been made publicly available by our Top Mining Producers on the Global Tailings Portal (tailing.grida.no). Responsible tailings management requires operators to consider the management and governance of TSFs throughout their lifecycle, from design to closure and post-closure. When deciding where to deploy capital, we review all aspects of a project’s planned or existing waste and TSFs. When negotiating new acquisitions, we negotiate contractual arrangements for the operator to implement the GISTM or another equivalent international tailings standard for their TSFs and provide us with ongoing reporting on adherence to such standards. We highlight certain attributes of our Top Mining Assets' TSFs along with a summary of how each Top Mining Producer manages the review of its TSFs more generally. Responsible Capital Allocation Due Diligence Process Ongoing Asset Management Key ESG Factors Supply Chain Message from our CEO Report Highlights About Franco-Nevada Community Contributions Good Governance and Shareholder Alignment Diversity, Inclusion and Well-Being Transparency and Guiding Principles Climate Action About this Sustainability Report Appendices Health and Safety Carbon Footprint Water Management and Risk Tailings Management Biodiversity