– 10.0 20.0 30.0 40.0 50.0 60.0 70.0 2025 2024 2023 55.8 38.5 17.3 63.9 37.3 26.6 58.4 30.6 27.8 Electricity Steam Corporate Scope 1 GHG Emissions Operating exclusively within office environments, Franco - Nevada does not have any Scope 1 GHG emissions within its operational control, as defined under the GHG Protocol. Our corporate offices do not utilize on-site fossil - fuel combustion for space heating or operations. For example, Commerce Court West, our Canadian head office building in Toronto, is heated using purchased steam and powered by electricity, both of which are accounted for as Scope 2 emissions. We acknowledge that employees may, from time to time, access shared or public spaces during the workday that rely on fossil - fuel - based energy sources. These sources fall outside our operational boundary, and any associated emissions are not considered Scope 1 emissions attributable to Franco - Nevada under the GHG Protocol. 1 Prior to 2024, Scope 2 emissions for our corporate operations were disclosed on a partial full - time - equivalent (FTE) basis, reflecting data limitations for certain office locations. In 2024, we grossed up Scope 2 emissions to 100% coverage across our global office footprint, resulting in a restatement of previously reported figures to ensure consistency and comparability across reporting years. Franco - Nevada does not currently procure market - based instruments (such as renewable energy certificates or power purchase agreements) for electricity consumption across its global corporate operations, and residual emissions factors are not available in the jurisdictions in which we operate. As a result, and in accordance with the GHG Protocol Scope 2 Guidance, market - based Scope 2 emissions are calculated using location - based emissions factors. Accordingly, our location - based and market - based Scope 2 emissions are equivalent for the periods presented in this report. 2 Represents raw utility data for the company’s Toronto and Barbados offices. Water use and waste generation data for the Toronto office are provided by building management and represent Franco - Nevada’s proportionate share of the building’s total water usage and waste volumes. Total Corporate Scope 2 Emissions (tCO 2 e) Corporate Utility Usage and Waste 2 The following sets out our annual utility usage and waste for the years 2023– 2025. Unit 2023 2024 2025 Electricity kWh 215,371 218,387 205,557 Steam lb 403,168 365,408 441,054 Chilled Water ton-h 32,388 28,447 29,300 Water m 3 562 571 544 Waste kg 1,951 2,163 2,164 Solar panel project at our Barbados office Consistent with our commitment to maintaining carbon - neutral corporate operations, we purchase carbon offsets equivalent to 125% of our reported Corporate Emissions to address residual emissions across our Corporate Emissions inventory. Corporate Scope 2 GHG Emissions 1 GHG emissions associated with the generation of purchased electricity and steam used in our corporate offices are classified as Scope 2 emissions under the GHG Protocol and are presented in the chart above. In recent years, our Scope 2 emissions have remained below historical baseline levels, reflecting changes in workplace utilization patterns, including the continued use of flexible work arrangements, as well as site - specific energy efficiency initiatives. These initiatives include the installation of solar panels at our Barbados office in 2025, which has contributed to reduced reliance on grid - supplied electricity at that location. As in - office attendance has increased since 2022, we have begun to observe a gradual normalization of energy use, while continuing to assess opportunities to manage and optimize electricity consumption across our office footprint. Franco-Nevada Corporation 40