FRANCO-NEVADA CORPORATION 83 THE GOLD INVESTMENT THAT WORKS Canada Other Canada Assets Canada Precious Metals Please refer to the tables on pages 128-136 for a breakout of grade and tonnages by Mineral Resource category. Osisko Development Corp. (“Osisko Development”) is advancing the Cariboo Gold project in east-central British Columbia. In November 2019, Osisko Gold Royalties Ltd. completed its acquisition of Barkerville Gold Mines Ltd. and, in November 2020, spun the asset out into Osisko Development. The property consists of 2,120 km 2 of mineral rights located 85 km east of the town of Quesnel. The area has historical underground and alluvial production of 4.5 million ounces of gold from 1933 to 1967. Osisko Development started producing at the Bonanza Ledge II deposit in Q2 2021 and announced in October 2021 receipt of the final permits for the Bonanza Ledge II mine and QR mill. Production was previously estimated at 62,000 ounces over 2 years. The Bonanza Ledge II Mineral Resource includes the BC Vein, Bonanza Ledge, and KL Zone deposits. Franco-Nevada’s 3% NSR covers the claims to the immediate north-east of Bonanza Ledge, referred to as the KL Zone. Franco-Nevada’s 3% royalty interest also includes the Williams Claims which are about 5 km south east of Bonanza Ledge. While mining Bonanza Ledge II, studies continue to advance for the other deposits along the Cariboo trend. An August 2019 PEA scoped the overall project at 4,000 tpd with approximately 200,000 ounces per year over 11 years. In 2021, 152,500 m of drilling was conducted on the Cariboo Gold project to support the ongoing feasibility study, which is expected in H1 2022. The mineral resource estimate incorporates eight deposit areas: the Shaft and Mosquito Creek deposits on Island Mountain, Cow and Valley deposits on Cow Mountain, and Lowhee, KL, BC Vein and Bonanza Ledge deposits on Barkerville Mountain. Osisko Development is waiting for receipt of the remaining permits, expected in Q3 2022, before starting construction at Cariboo, with production anticipated to start in 2023. An updated reserve and resource estimate at Cariboo and a feasibility study with full reserve and mine plan are expected in Q2 2022. Osisko Development has stated the EA Certificate is still on schedule for August/September of 2022. Franco-Nevada has not included Cariboo in Royalty Ounce estimates Cariboo Au British Columbia, Canada Operator: Osisko Development Corp. Royalty: NSR: 3% Precious Metals PRECIOUS METALS DIVERSIFIED ASSETS RESERVES AND RESOURCES ADDITIONAL INFORMATION