2022 ASSET HANDBOOK 88 FNV TSX NYSE N 2% NSR Royalty Area Awonsu Apensu Subika Plant and Offices Ntotoroso Amoma Kenyase Subika Project Area Note: not to scale Atlantic Ocean BURKINA FASO COTE D’IVOIRE GHANA TOGO BENIN NIGERIA NIGER MALI ALGERIA Subika PRECIOUS METALS 2021 2020 2019 Revenue to Franco-Nevada ($ million) $ 11.6 $ 10.4 $ 17.4 P&P Reserves (koz Au) 1 6,100 6,060 6,170 M&I Resource (koz Au) 1 9,350 9,010 9,190 Inferred Resource (koz Au) 1 1,730 1,220 1,620 P&P Royalty Ounces (000s) 2 82 82 82 M&I Royalty Ounces (000s) 1, 2 80 85 126 Inf Royalty Ounces (000s) 2 15 11 26 1 Please r efer to the tables on pages 128-136 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 For Ro yalty Ounce calculation, Franco-Nevada estimates 68% of Mineral Reserves (68% in 2020, 66% in 2019), 43% of the M&I Mineral Resources (47% in 2020, 69% in 2019) and 43% of the Inferred Resources (47% in 2020, 80% in 2019) are subject to our royalty interest and estimates an average rate of 2.0% is applicable Subika (Ahafo) Au Ghana, Rest of World Operator: Newmont Corporation Royalty: NSR: 2% Precious Metals Franco-Nevada has a 2% NSR royalty which covers a 78 km 2 area on the southern portion of Newmont’s Ahafo South mine in Ghana (shown in the schematic). The 2% NSR is payable on all ounces produced from the Rank (formerly Ntotroso) concession. The majority of the Subika deposit, the northern portion of the Awonsu deposit, and the southern tip of the Amoma deposit fall within the Rank mining lease boundary. Ne wmont completed the Subika Underground project in the fourth quarter of 2018 and announced commercial production at the Ahafo Mill Expansion in 2019, designed to improve production margins and accelerate stockpile processing. In 2021, Ahafo South pr oduced 481,000 ounces of gold compared with 480,000 ounces in 2020 and it is estimated that 68% of project reserves as of December 31, 2021 fall on Franco-Nevada’s royalty ground. Newmont reported a ramp-up of production at Subika following a change in mining method and expects an improvement in grades in 2022. Production from Ahafo is expected to increase to 650,000 ounces in 2022. In addition, Franco-Nevada expects a larger proportion of production to be sourced from ground covered by our royalty. Production is expected to increase through 2024, due to continued higher grade at the Subika open pit and increased underground tonnes mined due to the change in Newmont`s mining method at the Subika Underground. Ne wmont has announced a multi-year exploration plan to unlock the underexplored geological trends along 70 km of the Kenyasi thrust fault on which Ahafo South is located. At Ahafo South, Newmont has highlighted significant underground potential at Subika (on royalty ground) and the Apensu pit (not on royalty ground). In 2021, Newmont announced the approval of a new project in Ghana, Ahafo North, which is located 30 km to the north of the Ahafo South mine and not on royalty ground. Rest of World Production growth through 2024 Estimate 68% of project reserves fall on royalty ground Larger share of future production expected on royalty ground Subika (Ahafo), Ghana