Ongoing Asset Management Royalty and stream agreements differ in many respects, but typically include the following types of provisions: Our royalty and streaming agreements may include restrictions that require our consent to a transfer of a project, or that otherwise specify the circumstances under which a transfer is permitted. These provisions are intended to help ensure that, over the life of the agreement, we remain partnered with operators that meet our standards for quality, integrity, and responsible operating practices. We are usually entitled to audit the books and records of the operators on a periodic basis and may access and inspect the properties comprising projects. These rights provide us further insight into the operations and management by the operators. These provisions permit us to confirm compliance with the terms of the agreements, for example, covenants to comply with international tailings standards, and with applicable laws, including environmental laws and sustainability-related industry standards. Our royalty and streaming agreements typically contain a series of reporting obligations, including the delivery of monthly and annual reports, updated mine plans, forecasts and other documentation, which serve to keep us informed of operations. Operators are also typically required to notify us of any material adverse changes to a project or its operations. Following such an adverse event, we typically maintain regular communication and offer our guidance and expertise to the operators, where appropriate. These reporting obligations keep us informed of sustainability-related issues when they arise. Streaming agreements afford us the ability to terminate and recover specific remedies upon a material breach of the contractual provisions. In some instances, we have security arrangements in respect of our royalty and stream interests, which would enable us to exert influence in the event of a default or otherwise. Such arrangements provide additional protections to help address material sustainability-related risks. Following our initial acquisition of royalties or streams, we do not participate in the development or operation of our operating partners’ projects. However, our royalty and streaming agreements typically include covenants intended to ensure that operators conduct their activities in compliance with applicable law and responsible mining practices. These covenants may reference recognized sustainability and governance standards and frameworks, including, where applicable, the RGMPs, The Copper Mark, ICMM, CIM or TSM guiding principles. Operating Covenants Security & Remedies Audit & Inspection Rights Reporting Obligations Transfer Restrictions Franco‑Nevada Corporation 7