FNV: TSX | NYSE 2 1. Message from our CEO ................................................ 3 2. ESG Ratings .................................................................. 6 3. Franco-Nevada ............................................................. 7 4. Making Responsible Investments ................................. 8 Due Diligence Process ............................................................................... 9 ESG-Related Due Diligence ..................................................................... 10 Ongoing Asset Management .................................................................... 11 5. Guiding Principles ...................................................... 12 Responsible Gold Mining Principles ......................................................... 13 UN Global Compact ................................................................................ 16 6. Operators ................................................................... 17 7. Approach to Climate Change ..................................... 29 Carbon Neutral for Operations ................................................................. 30 Global Carbon Footprint .......................................................................... 31 TCFD Disclosure ....................................................................................... 34 Resilience of our Portfolio ........................................................................ 35 Climate Opportunities .............................................................................. 36 8. Contributions ............................................................. 41 Enseña Peru ............................................................................................ 42 Other Contributions and Initiatives ........................................................... 43 Individual Philanthropic Contributions ...................................................... 47 9. Employees.................................................................. 48 Impact of the COVID-19 Pandemic .......................................................... 49 Labour, Health and Safety ....................................................................... 50 Security ................................................................................................... 51 Human Rights & Diversity ........................................................................ 52 • Human Rights .................................................................................. 52 • Diversity & Inclusion ........................................................................ 53 • Non-Discrimination, Anti-Harassment and Equal Opportunity ........... 57 10. Governance ................................................................ 58 Responsible Supply Chain ....................................................................... 59 Information Security ................................................................................ 60 Governance & Integrity ............................................................................ 61 • Engagement with Shareholders ........................................................ 64 • Alignment: Directors & Shareholders ............................................... 65 • Alignment: Management & Shareholders ......................................... 66 • Code of Business Conduct and Ethics .............................................. 67 • Business Integrity Policy ................................................................... 68 • Whistleblower Policies ...................................................................... 68 • Policy Concerning Confidentiality, Fair Disclosure and Trading in Securities .................................................................. 69 11. About This ESG Report .............................................. 70 12. Appendices ................................................................ 71 A: ESG Performance Table ....................................................................... 72 B: Operators’ Emissions .......................................................................... 76 C: TCFD Disclosure ................................................................................. 80 D: SASB Disclosure ............................................................................... 104 E: UN Global Compact: Communication on Progress ............................. 114 F: KPMG: Independent Limited Assurance Report .................................. 118 G: Carbon Neutral Initiative ................................................................... 119 Table of Contents RETURN TO TABLE OF CONTENTS