FRANCO-NEVADA CORPORATION 19 THE GOLD INVESTMENT THAT WORKS 1 Does not co ver all the Mineral Reserves or Mineral Resources reported for the property by the operator. 2 Per centage varies depending on the claim block of the property. 3 Pr ovides for minimum or advance payments. 4 Per centage varies depending on the commodity price or value of ore. 5 Payable after oper ator recovers defined exploration and development expenses. 6 These r evenue numbers are before the deduction of the purchase cost per ounce. 7 8,760 o z Au & 291,000 oz Ag per year until December 2025; then, 63% Au & Ag until 87,600 oz Au & 2,910,000 oz Ag delivered, respectively; thereafter, 25% Au & Ag. 8 Sabodala agr eement was amended with an effective date of September 1, 2020. 9 Net sales r oyalty attributable to FNV Royalty holding on certain properties and subject to certain thresholds. 10 GORR and IOC equity inter est attributable to FNV 9.9% equity ownership of Labrador Iron Ore Royalty Corporation. Re venue ($ millions) Asset Oper ator Inter est and % 2021 2020 2019 Notes Diversified Vale Vale 0.264% Iron Ore, 0.367% Copper/Gold, 0.147% Other (9) $ 59.4 $ – $ – Px3, Ex1 LIORC Rio Tinto GORR 0.7% Ir on Ore, IOC Equity 1.5% (10) 30.2 14.7 19.2 P Other Mining (96 assets) 5.2 3.1 4.4 Px8, Ax7, Ex81 UNITED STATES (ENERGY) Marcellus Range Resources GORR 1% 36.1 20.4 18.0 P Haynesville Various V arious Royalty Rates 38.5 4.2 – P SCOOP/STACK Various V arious Royalty Rates 36.4 21.6 26.2 Px3 Permian Basin Various V arious Royalty Rates 35.0 18.5 20.0 Px2 Other (2 assets) 0.2 0.1 – Px1, Ex1 CANADA (ENERGY) Weyburn Unit Whitecap Resources NRI 11.71%, ORR 0.44%, WI 2.56% 43.8 16.0 33.8 Px3 Orion Strathcona Resources GORR 4% 10.8 5.9 10.2 P Other (69 assets) 8.7 5.0 7.7 Px43, Ex26 Revenue - Diversified $ 304.3 $ 109.5 $ 139.5 TOTAL REVENUE - Precious Metals + Diversified $ 1,300.0 $ 1,020.3 $ 844.1 OVERVIEW PRECIOUS METALS DIVERSIFIED ASSETS RESERVES AND RESOURCES ADDITIONAL INFORMATION ASSET PORTFOLIO Diversified Our Business