FNV: TSX | NYSE 39 Approach to Climate Change Carbon Sequestration at Weyburn (Franco-Nevada has royalty interests and a working interest at Weyburn) We have royalty interests and a working interest on Whitecap Resources’ Weyburn Unit in southeast Saskatchewan, which is a CO 2 injection enhanced oil recovery development. CO 2 is transported as a liquid from two separate industrial sources. At the source, the CO 2 is captured and compressed before transmission via pipeline to Weyburn. The CO 2 in liquid form is then injected at high pressure into the Weyburn Unit. The gas stream that is recovered with the oil production is processed for natural gas liquids and the remaining CO 2 volume is reinjected into the formation on an ongoing basis. Accordingly, with minor adjustment for losses, all of the CO 2 purchased and transported by pipeline for injection at Weyburn constitutes additional CO 2 volumes stored each year. Since its inception in 2000, more than 37 million tonnes of CO 2 from two separate industrial sources have been captured and stored 1.5 km underground, the equivalent of taking 8 million cars off the road for an entire year. In addition to having carbon storage benefits, injecting CO 2 helps oil come to the surface more easily and improves the efficiency of production, maximizing the ultimate recovery of oil originally in place. “Since its inception in 2000, more than 37 million tonnes of CO 2 from two separate industrial sources have been captured and stored 1.5 km underground, the equivalent of taking 8 million cars off the road for an entire year.” Climate Opportunities (continued) Utilizing emissions-reduction processes at Weyburn Enhanced Oil Recovery CO 2 Mining and energy operators utilizing lower emission and emissions reduction processes and technologies demonstrate their adaptability to climate change. As decarbonisation continues to take centre stage, we will continue to look to partner with and invest in these companies and projects, which involvement will improve our own sustainability profile.