Franco-Nevada Corporation 6 Franco-Nevada Expertise Formalized Due Diligence Checklists We use a multi-disciplinary approach when evaluating potential transactions. Beyond Franco-Nevada’s ESG expertise, our team consists of professionals with experience and expertise in the fields of geology, mining, metallurgy, engineering, energy, finance and law. ESG-related issues intersect with all of these disciplines and our team members provide valuable insight to properly mitigate ESG risks. Our due diligence processes are enhanced by using an internal ESG due diligence checklist, which ensures consistency in our due diligence processes, helps focus our ESG due diligence review on key issues, and informs our ESG- related document and information requests made of operators during all stages of our due diligence and contract negotiations. Outside Expertise Data Sourcing We routinely engage experts (often in the jurisdictions in which a project is located) to assist in the evaluation of new opportunities, including external legal counsel, technical consultants, environmental consultants, corporate social responsibility consultants and governance consultants to assess political, ESG, technical and regulatory issues in applicable jurisdictions and the operator’s management of these issues. We have several data provider subscriptions, including McKinsey MineSpans, a data platform that provides over 1,000 data points per mine, including carbon and other greenhouse gas emissions generated by projects, for over 3,800 mines across the globe. We use this information to better inform our review of ESG-related issues for potential opportunities. Community & Indigenous Perspectives When evaluating potential opportunities, Franco-Nevada considers the perspectives of various stakeholders, including neighbouring communities and impacted Indigenous groups. As part of our desktop reviews, discussions with operators, and site visits, Franco-Nevada focuses on understanding operators’ approaches to community engagement, particularly in operations on or near Indigenous groups’ territories, and their adherence to Free, Prior and Informed Consent (FPIC) and similar practices. We review projects’ social management systems to identify key stakeholders, communication channels, and any significant community concerns, ensuring these are addressed in compliance with local legislation and aligned with international standards, including, if applicable, those relating to resettlement matters, such as the International Finance Corporation’s Performance Standard 5 and the World Bank's ESS5. We take a number of steps in our due diligence reviews, including hiring third-party consultants with experience and relationships with Indigenous groups and local communities. We thoroughly review impact and benefit agreements (IBAs) and other agreements affecting Indigenous communities. During site visits, Franco-Nevada seeks to understand how relationships are managed and to identify any significant community concerns related to projects. In certain circumstances, we and/or our consultants speak directly with various stakeholders, providing an independent perspective on various stakeholders’ support for a particular project, including those of local governments and surrounding communities. Franco-Nevada aims to enter into agreements with operators that have the support of their key stakeholders. When support for a project varies widely across communities, we prioritize projects with broad support from communities that are directly impacted and ensure mechanisms are in place to address any existing or future community concerns, including, for example, in our own agreements with operators, where we often require that certain approvals or milestones relating to the above factors be met as conditions precedent to funding, with the goal to promote best practices and ensure that all necessary processes and procedures are followed. Teepee at Wyloo's Esker Site in the Ring of Fire region Message from our CEO Report Highlights About Franco-Nevada Community Contributions Good Governance and Shareholder Alignment Diversity, Inclusion and Well-Being Climate Action Transparency and Guiding Principles About this Sustainability Report Appendices Ongoing Asset Management Supply Chain Responsible Capital Allocation Key ESG Factors Health and Safety Carbon Footprint Water Management and Risk Tailings Management Biodiversity Due Diligence Process Responsible Capital Allocation