FRANCO-NEVADA CORPORATION 33 THE GOLD INVESTMENT THAT WORKS OVERVIEW PRECIOUS METALS DIVERSIFIED ASSETS RESERVES AND RESOURCES ADDITIONAL INFORMATION Royalty Ounces Compared to a gold exchange traded product, an investment in Franco-Nevada provides the opportunity to acquire gold exposure at a discount, along with the benefits of a meaningful yield and gold exploration optionality. Assuming an $1,800 per ounce gold price implies an undiscounted value of $21.5 billion for our attributable Mineral Reserve Royalty Ounces and $33.4 billion for our attributable M&I (inclusive) Mineral Resource Royalty Ounces. By contrast, our market capitalization at December 31, 2021 was $26.5 billion. We only estimate Royalty Ounces on our 78 most material mining projects. There are a further 244 advanced and exploration projects not included in the estimates that add considerable optionality for further ounces in the future. Our experience is that each year some of these projects will advance enough to be included as Royalty Ounces. Furthermore, we do not calculate Royalty Ounces for our Diversified Energy assets, comprised principally of oil and gas assets. In 2021, these assets comprised 16% of Franco-Nevada’s overall revenue. These revenues were more than sufficient to offset our income taxes paid (7% of revenue) and general and administrative expenses (2.4% of revenue). $33.4 billion Undiscounted Value of M&I (inclusive) Mineral Resource Royalty Ounces Royalty Ounces 1,2 Asset T ype P &P (000s) M&I 3 (000s) Inf (000s) Precious Metals Rest of World MWS Str eam 54 54 – Sabodala Str eam 75 112 35 Tasiast NSR 128 180 19 Subika (Ahafo) NSR 82 80 15 Karma Str eam 6 74 26 Duketon NSR 37 72 11 Edikan NSR 20 35 5 Matilda (Wiluna) NSR 46 128 71 South Kalgoorlie NSR 4 9 4 Kiziltepe NSR 2 3 2 Sissingué NSR 1 1 – Pandora NPI 30 258 33 Yandal (Bronzewing) NSR 16 26 5 Aphrodite NSR 14 29 13 Séguéla NSR 13 16 1 Perama Hill NSR 25 27 16 Agi Dagi NSR 23 44 6 Precious Metals Royalty Ounces 9,697 15,280 4,936 Diversified Mining Vale (Northern & Southeastern System) 4 Other 1,136 1,136 n/a Sossego 4 Other 5 5 n/a LIORC 4 Other 207 349 162 NuevaUnión (Relincho) 4 NSR 250 349 143 Taca Taca 4 NSR 359 437 100 Falcondo 4 NPI 84 95 6 Rosemont/Copper World 4 NSR 181 372 52 Robinson 4 NSR 5 18 1 Ring of Fire 4 NSR – 203 58 Eagle’s Nest 4 NSR 23 24 19 Crawford 4 NSR – 261 183 Mt Keith 4 NSR/NPI 19 42 5 Diversified Royalty Ounces 2,270 3,292 727 Total Royalty Ounces 11,967 18,572 5,663 * Refer to footnotes on page 32