Author image
Franco-Nevada Corporation
Content thumbnail Franco-Nevada 2022 Asset Handbook
AI Content Chat (Beta) logo

Franco-Nevada 2022 Asset Handbook

2022 Asset Handbook

2 FNV TSX NYSE 2022 ASSET HANDBOOK Fr anco-Nevada Corporation’s 2022 Asset Handbook is intended to assist investors and analysts in their understanding of our business and portfolio of assets. Franco-Nevada Corporation is the leading gold-focused royalty and streaming company with the largest and most diversified portfolio of cash-flow producing assets. The Company’s business model provides investors with gold price and exploration optionality while limiting exposure to cost inflation. Franco-Nevada is debt-free and uses its free cash flow to expand its portfolio and pay dividends. It trades under the symbol FNV on both the Toronto and New York stock exchanges. Since its IPO, Franco-Nevada’s share price has outperformed the gold price and all relevant gold equity benchmarks. Franco-Nevada is the gold investment that works. 2022 ASSET HANDBOOK This Asset Handbook has not been prepared in connection with the sale of securities and is not an offering memorandum and should not be relied upon as such. This Asset Handbook does not constitute an offer to sell or a solicitation for an offer to purchase any security in any jurisdiction.

THE GOLD INVESTMENT THAT WORKS PRECIOUS METALS DIVERSIFIED ASSETS OVERVIEW RESERVES AND RESOURCES ADDITIONAL INFORMATION 3 FRANCO-NEVADA CORPORATION “ ” The Gold Investment that Works

Franco-Nevada 2022 Asset Handbook - Page 3

GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD 2022 ASSET HANDBOOK 4 FNV TSX NYSE W e ar e delighted to publish our 2022 Asset Handbook and trust it will assist you to better understand our business and portfolio of assets. Franco-Nevada is the leading gold-focused royalty and streaming company with the largest and most diversified portfolio of cash flow producing assets. Our top line business model provides investors with gold price optionality while limiting exposure to cost inflation. Our high margins and exposure to exploration success have allowed us to outperform in both bull and bear markets. Our tag-line is “Franco-Nevada is the gold investment that works” and we are committed to ensuring it does work, for our shareholders, our operating partners and our communities. Combining a lower-risk gold investment with a strong balance sheet, progressive dividends and exposure to exploration optionality is the right mix to appeal to investors seeking to hedge market instability. Over the 14 years since our initial public offering, our shareholders have realized a share price appreciation of over 860% and a compounded annual growth rate of greater than 18%. Our objective is to sustain our dividend in almost any gold price environment and for it to be progressive. We have increased dividends for the fourteenth consecutive year and cumulative dividends now exceed US$1.73 billion. At year-end, our market capitalization exceeded US$26 billion, ranking Franco-Nevada among the largest gold companies in the world. We work to build long-term alignment with our operating partners, knowing we are only successful if they are. This win-win approach and the natural flexibility of royalties and streams has proven to be an effective financing tool for the cyclical resource sector. Our approach is to provide low-cost financing to the industry, to act as stable and supportive partners through the cycle and to share in the upside of a property. Our shareholders rely on us to allocate capital to responsible mining operations. As a result, attention to ESG is a core part of our transaction due diligence and we encourage our operators to adopt responsible operating principles as established by the World Gold Council or otherwise. Our goal is to achieve at least 40% diverse representation between the Board and senior management as a group by 2025 and we actively promote diversity and inclusion in our workforce. Our work with operators to develop and fund programs to benefit communities continues to expand. We have a unique approach to the royalty and streaming business that is born from experiencing many industry cycles. We avoid long-term debt to ensure strong capital availability at all times. Our Board and management have some of the best technical skills in the industry as evidenced by their success in asset selection. We are significant owners of the Company which is essential to our “thinking like owners”, keeping G&A low and treating shareholder funds as our own. Our investment objective is to increase our net asset value and cash flow per share, not just to make the Company larger. Our focus is growing our gold expo- sure. This includes financing gold mines and acquiring gold royalties, but increasingly through acquiring by-product precious metal streams from base metal mines. When good opportunities present themselves, we also invest in other resources outside of precious metals. This strategy adds to our cash flow growth, asset diversity and exposure to resource sector optionality. We don’t control when good assets come to market but seek to balance the portfolio exposure over time. DEAR STAKEHOLDERS

GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD FRANCO-NEVADA CORPORATION 5 THE GOLD INVESTMENT THAT WORKS Our investment objective is to increase our net asset value and cash flow per share, not just to make the Company larger. “ ” David Harquail, Chair and Paul Brink, CEO at the Detour Lake Mine, August 2021 We are convinced of the long-term investment appeal of gold and believe our “top line” business model will shine in today’s highly inflationary world. Thank you for your ongoing trust and support. David Harquail Paul Brink Chair Pr esident & CEO April 8, 2022 PRECIOUS METALS DIVERSIFIED ASSETS OVERVIEW RESERVES AND RESOURCES ADDITIONAL INFORMATION

Franco-Nevada 2022 Asset Handbook - Page 5

GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD 2022 ASSET HANDBOOK 6 FNV TSX NYSE OUR BOARD AND MANAGEMENT Board and Management at recent AGM Our success is attributable to a small team of highly capable people and the guidance of an experienced and engaged Board. Senior management all have long tenure with the Company and have proven success executing as a team. Our Board’s depth of industry leadership and technical skills has been key in their role as an investment committee. Individual Board biographies are provided on page 142 and Executive Management biographies are provided on page 144.

GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD FRANCO-NEVADA CORPORATION 7 THE GOLD INVESTMENT THAT WORKS PRECIOUS METALS DIVERSIFIED ASSETS OVERVIEW RESERVES AND RESOURCES ADDITIONAL INFORMATION OUR HISTORY Creation of the Royalty Model Franco-Nevada Mining Corporation Limited The history of our business starts with our predecessor company, Franco-Nevada Mining Corporation Limited, founded by Seymour Schulich and Pierre Lassonde. Pierre bought Franco-Nevada’s first royalty in 1986 on the Goldstrike mine in the Carlin Trend. At the time it was a small heap-leach mine operated by Western States Mining. Shortly thereafter, American Barrick (now Barrick) purchased Goldstrike and did the deep level exploration that would ultimately reveal a 50 million ounce orebody that drove the success of both Barrick and Franco-Nevada. Pierre and Seymour, assisted by David Harquail, began acquiring royalties in the more prolific gold camps in the world including the Carlin & Getchell trends in Nevada, Timmins and Kirkland Lake camps in Ontario and the Kalgoorlie belt in Australia. They also expanded into PGMs including a royalty on Stillwater in Montana which, along with Goldstrike, stands out as one of their most successful royalty purchases. In the early 1990s as part of their prospect generation model, Franco-Nevada discovered the high-grade Ken Snyder deposit in Nevada. They determined that the deposit had a high enough silver credit to carry all operating costs, creating an effective 100% gold royalty and proceeded to construct the mine. In early 2001, Franco-Nevada sold the mine to Normandy Mining in exchange for 20% of Normandy and a royalty on the mine. Later in 2001 AngloGold made a bid for Normandy. Seeing the potential for a better alternative transaction, Seymour and Pierre struck a deal with Newmont to acquire both Franco-Nevada and Normandy. When the transaction closed in 2002, Franco-Nevada was valued at close to US$3 billion. Seymour Schulich (right) introducing Pierre Lassonde upon Pierre’s induction into the Canadian Mining Hall of Fame in 2013

Franco-Nevada 2022 Asset Handbook - Page 7

GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD 8 2008 2009 2010 2011 2012 2013 2014 2016 2017 2015 2018 2019 2020 2021 2022 240.00 220.00 200.00 180.00 160.00 140.00 120.00 100.00 80.00 60.00 40.00 20.00 0.00 200.00M 0.00M December 20, 2007, ‘FNV’ opening day at the TSX The IPO Franco-Nevada Corporation (FNV) In 2007, Newmont made the decision to divest its portfolio of royalty assets. Pierre Lassonde, David Harquail and a small team led by management of the original Franco-Nevada, launched an initial public offering on the Toronto Stock Exchange and acquired the royalty portfolio from Newmont for US$1.2 billion. The offering remains the largest mining IPO completed in North America and was the birth of Franco-Nevada Corporation (FNV). The performance of the portfolio of royalties acquired from Newmont has more than justified the price of the IPO. In the past 14 years, the IPO portfolio has paid out over US$1.8 billion in revenue. At the same time, the reserve ounces associated with those same properties has tripled. Key contributors, including Detour Lake and Tasiast, have once again proven the power of the royalty business model and the exploration optionality of being exposed to great geology. Streaming – the New Engine of Growth With an increase in energy prices, oil and gas made up more than 40% of Franco-Nevada’s revenues in 2008. We set out to add gold revenue adding royalties on Newmont’s Gold Quarry operation in Nevada and Subika mine in Ghana. At the end of 2008, in the depth of the financial crisis, we enter ed into our first gold str eaming agreement with Coeur Mining. The financing assisted Coeur Mining to complete the construction of the Palmar ejo mine in Me xico. As Franco-Nevada’s revenues became more weighted to precious metals, its share price was rerated upwards. In 2012, we made a US$1 billion gold and silver streaming commitment to support Inmet's construction of the giant Cobre Panama project. A few years later the commitment was expanded to US$1.4 billion with the development of Cobre Panama then in the hands of First Quantum. First Quantum expanded the size of the planned mine and demonstrated its industry-leading project development skill bringing the asset to production in 2019. Cobre Panama is a cornerstone asset for Franco-Nevada today and First Quantum’s plans to expand the mine will be our major growth driver through 2023.

GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD 9 2008 2009 2010 2011 2012 2013 2014 2016 2017 2015 2018 2019 2020 2021 2022 240.00 220.00 200.00 180.00 160.00 140.00 120.00 100.00 80.00 60.00 40.00 20.00 0.00 200.00M 0.00M PRECIOUS METALS DIVERSIFIED ASSETS OVERVIEW RESERVES AND RESOURCES ADDITIONAL INFORMATION Our Unique Approach In our view, there is enough cyclicality in the commodity sector without adding leverage and there is option value to having liquidity to do deals when others cannot. Our conservative balance sheet approach was vindicated with the commodity downturn of 2014-2016. It forced even the largest global mining companies to repair their balance sheets. We were able to invest US$1.8 billion in those years creating precious metals streams at Candelaria, Antamina and Antapaccay. These large assets, along with Cobre Panama, have further diversified our portfolio with longer duration assets than can be typically found in the gold industry. We have not forgotten our roots and continue to also invest in smaller development-stage assets. It takes a long-term perspective to plant these acorns for Franco-Nevada’s future. Our total mining asset count has grown from 190 at IPO to 322 today including exploration assets on some of the world’s best gold belts and royalties on a suite of copper and nickel development projects. We have also invested in resources outside of precious metals when good opportunities have come to market. This has added cash flow growth and exposure to the exploration upside on a broader range of world-class resources. With oil prices falling sharply in 2014, we set about adding to our oil and gas royalty interests, particularly in the major U.S. basins including the Permian and the Marcellus. We have also been attracted to the long reserve life of high-quality iron ore deposits and, in 2021, added royalty exposure to Vale’s Northern and Southeastern Iron Ore systems in Brazil. In Search of Good Geology We believe the depth of our portfolio gives us the latitude to patiently search for exposure to good geology. Our desire is to build the most diverse portfolio of royalties and streams exposed to precious metal prices, but also to exploration success across the world’s greatest mineral belts. Our prospects to put more capital to work in the capital intensive and cyclical resource sector have never been better. The listing was one of the largest in Canadian history ...and the largest mining IPO in North American history. “ ”

Franco-Nevada 2022 Asset Handbook - Page 9

10 Information relating to projects, properties and their owners and operators presented in this Asset Handbook has been sourced from the public disclosure of the owners and operators of our assets available as at March 11, 2022 (except where stated otherwise). More current information may become available in our subsequent disclosure and on our website. This Asset Handbook contains information about many of our assets, including those that may not currently be material to us. Also, the description and depiction of our business and assets have been simplified for presentation purposes. Dollar references are in U.S. dollars unless otherwise noted. This Asset Handbook should be read with reference to the explanatory notes and cautionary statements contained in the Additional Information section found at the end of this Asset Handbook. Please also refer to the additional supporting information and explanatory notes found in our Annual Information Form (“AIF”), our annual Management’s Discussion & Analysis (“MD&A“), and our Annual Report on Form 40-F available at www.sedar.com and www.sec.gov, respectively, and on our website at www.franco-nevada.com. This Asset Handbook complements but does not form part of such documents. This Asset Handbook has not been prepared in connection with the sale of securities and is not an offering memorandum and should not be relied upon as such. This Asset Handbook does not constitute an offer to sell or a solicitation for an offer to pur chase any security in any jurisdiction.

Precious Metals Assets 38 South America 48 Central America and Mexico 52 United States 66 Canada 84 Rest of World 97 Precious Metals Exploration Assets PRECIOUS METALS Diversified Assets 104 Iron Ore 107 Other Mining 114 Diversified Exploration Assets 116 Energy Assets 126 Energy Exploration Assets DIVERSIFIED ASSETS Mineral Reserves and Resources 128 Gold Mineral Reserves 130 Gold Mineral Resources 132 Silver Mineral Reserves and Resources 133 PGM, Copper Mineral Reserves and Resources 134 Nickel, Chromite, Iron Ore Mineral Reserves and Resour ces RESERVES AND RESOURCES Additional Information 138 Asset Counts, Acreage of Assets 140 Mine Life Index 142 Board of Directors, Executive Management, Corporate Organization 146 Glossary 148 Non-GAAP Financial Measures 150 Technical and Third Party Information, Forward Looking Information ADDITIONAL INFORMATION FRANCO-NEVADA CORPORATION 11 Overview 12 Our Business 16 Global Assets Map 18 Asset Portfolio 20 Environmental, Social and Governance 24 Our Performance 28 Organic Growth Drivers 30 Royalty Ounces OVERVIEW

Franco-Nevada 2022 Asset Handbook - Page 11

2022 ASSET HANDBOOK 12 FNV TSX NYSE Franco-Nevada Corporation is the leading gold-focused royalty and streaming company. We do not operate mines, develop projects or conduct exploration. Instead, we own and continue to grow a large, diversified portfolio of royalties and streams. Royalties Many mining properties have government and/or private royalties associated with them often created when prospectors or exploration companies sell their property to a more senior company capable of developing and operating a mine on the property. The most common royalties are 1-2% of the value of future production from the property. Often these are a percentage of the net value the Company receives for its product when it is processed at a smelter, hence the term “net smelter return royalty” or “NSR royalty”. There are other forms of royalties such as profit-related royalties or fixed-rate royalties but these are not a major part of Franco-Nevada’s focus or portfolio. Royalty rights are often registered on the title of the property or mineral rights. Registered royalties have strong tenure and, in jurisdictions where recognized, will generally survive an operating company reorganization. The majority of Franco-Nevada’s royalties have been acquired from the past owners of mining properties but we also actively work with operators to create royalties in return for mine financing. Streams Streams are metal purchase agreements where the streamer purchases all or a portion of the gold, silver or other products from a mine in exchange for an upfront payment and an additional payment on each delivery. While streams have similar exploration and price optionality to royalties, they differ from royalties in many respects including the ongoing cash payment required to purchase the physical metal. In some cases that ongoing payment is a fixed dollar amount and in other cases it is an agreed percentage of the commodity price at the time of delivery. A stream with fixed dollar ongoing payments has more leverage to the commodity price than the alternative. Both royalties and streams are typically life-of-mine agreements that provide exposure to commodity prices, increases in production and future discoveries on the property. Neither interest is subject to cash calls to fund exploration, development, capital, environmental or closure costs and so they are lower risk than an operating interest in this respect. A large and diversified portfolio can be assembled without the need for significant corporate overheads. OVERVIEW OUR BUSINESS MODEL Our Business

FRANCO-NEVADA CORPORATION 13 THE GOLD INVESTMENT THAT WORKS OVERVIEW PRECIOUS METALS DIVERSIFIED ASSETS RESERVES AND RESOURCES ADDITIONAL INFORMATION Our Business Optionality Potential for exploration success on 63,000 km 2 Focus on Growth Management not occupied with operational decisions Free Cash Flow Business Not exposed to capital calls Limited Cost Inflation Streams/NSRs not exposed to cost inflation High Margins & Low Overhead Strong cash generation throughout the commodity cycle Diversified Portfolio Non-operating business is more scalable We own and continue to grow a large, diversified portfolio of royalties and streams. “ ” BUSINESS MODEL ADVANTAGES

Franco-Nevada 2022 Asset Handbook - Page 13

2022 ASSET HANDBOOK 14 FNV TSX NYSE OVERVIEW Our Business FINANCING SUCCESSFUL MINES PARTNERSHIP APPROACH M&A Financing Project Financing Emerging Projects Debt Reduction Support leading operators through long-term partnership Technical team with strong track record identifying successful projects Alignment with partners for a win-win solution

FRANCO-NEVADA CORPORATION 15 THE GOLD INVESTMENT THAT WORKS OVERVIEW PRECIOUS METALS DIVERSIFIED ASSETS RESERVES AND RESOURCES ADDITIONAL INFORMATION DIVERSIFIED PORTFOLIO WITH LOW RISK Our Business LONG-LIFE ASSETS The Company is distinguished from many gold operating companies by its long reserve and resource life. This is principally due to its precious metal by-product streams on large copper assets and its long-life iron ore royalty holdings. Please refer to page 140 for further information. Franco-Nevada has the largest and most diversified portfolio of cash flow producing assets. The portfolio is diversified by asset, operator, geography and commodity. 77% from Precious Metals 91% from Americas One Asset > 10% Operator Diversification Commodity South America 32% Reve nue Bre akdown YE 2021 Rest of World 9% Canada & U.S. 35% Central America & Mexico 24% Gold 58% Diversified 23% Silver 13% PGM 6% Cobre Panama 18% Antapaccay 9% Candelaria 9% Assets Antamina 7% Guadalupe 6% Vale 5% Other 46% Geography Operator First Quantum 18% Glencore 9% Barrick 5% Lundin 9% Teck 7% Coeur 6% Vale 5% Other 41% 2021 Revenue 25 30 15 20 5 10 M&I (inclusive) Royalty Ounce Mine Life (Years) 0 2020 35 28 Years 32 Years 2021 M&I (inclusive) Royalty Ounce Mine Life (Years) 2021 Revenue

Franco-Nevada 2022 Asset Handbook - Page 15

Island Gold Millmerran Red October Henty Mt Keith Duketon Yandal (Bronzewing/Julius) King Vol Bowen Basin South Kalgoorlie (Mt Martin) Flying Fox Sterling Robinson Fire Creek Bald Mountain Marigold EaglePicher Granite Creek (Pinson) Midas Goldstrike Gold Quarry South Arturo Hollister Nevada Australia Subika (Ahafo) Tasiast Sabodala Edikan MWS Perama Hill Kiziltepe Karma Sissingue Pandora Cobre Panama Falcondo Castle Mountain Mesquite Courageous Lake Musselwhite Hemlo Greenstone (Hardrock) Detour Lake Midale Weyburn Goldfields Monument Bay Edson Timmins West Sudbury Kirkland Lake Golden Highway Canadian Malartic Nevada Stibnite Gold Cariboo SCOOP Midland Orion Dublin Gulch (Eagle) Red Mountain Delaware STACK Franco-Nevada Australia Office Franco-Nevada Head Office Franco-Nevada U.S. Office Franco-Nevada Barbados Office Kivivic 2 Marcellus Guadalupe-Palmarejo Brucejack CentroGold (Gurupi) Cerro Moro Taca Taca NuevaUnión (Relincho) San Jorge Antamina Salares Norte/ Rio Baker Valentine Lake Antapaccay Candelaria Calcatreu Stillwater Cascabel (Alpala) Red Lake (Bateman) Milpillas Haynesville Agate Creek White Dam Condestable Séguéla Edna May Higginsville (Lake Cowan) Aphrodite Matilda (Wiluna) Agnew (Vivien) South Kalgoorlie (New Celebration/ Mt Marion Lithium) Cue Gold (Day Dawn) Carol Lake Vale N. System Vale S.E. System Sossego Our Portfolio 404 TOTAL 112 Producing 42 Advanced 250 Exploration Asset count as of April 8, 2022 (not all assets shown on map including exploration assets) Precious Metals Diversified Precious Metals Diversified Posse (Mara Rosa) Eskay Creek Rosemont/ Copper World 16 FNV TSX NYSE OVERVIEW GLOBAL ASSETS Our Business

Franco-Nevada 2022 Asset Handbook - Page 16

Island Gold Millmerran Red October Henty Mt Keith Duketon Yandal (Bronzewing/Julius) King Vol Bowen Basin South Kalgoorlie (Mt Martin) Flying Fox Sterling Robinson Fire Creek Bald Mountain Marigold EaglePicher Granite Creek (Pinson) Midas Goldstrike Gold Quarry South Arturo Hollister Nevada Australia Subika (Ahafo) Tasiast Sabodala Edikan MWS Perama Hill Kiziltepe Karma Sissingue Pandora Cobre Panama Falcondo Castle Mountain Mesquite Courageous Lake Musselwhite Hemlo Greenstone (Hardrock) Detour Lake Midale Weyburn Goldfields Monument Bay Edson Timmins West Sudbury Kirkland Lake Golden Highway Canadian Malartic Nevada Stibnite Gold Cariboo SCOOP Midland Orion Dublin Gulch (Eagle) Red Mountain Delaware STACK Franco-Nevada Australia Office Franco-Nevada Head Office Franco-Nevada U.S. Office Franco-Nevada Barbados Office Kivivic 2 Marcellus Guadalupe-Palmarejo Brucejack CentroGold (Gurupi) Cerro Moro Taca Taca NuevaUnión (Relincho) San Jorge Antamina Salares Norte/ Rio Baker Valentine Lake Antapaccay Candelaria Calcatreu Stillwater Cascabel (Alpala) Red Lake (Bateman) Milpillas Haynesville Agate Creek White Dam Condestable Séguéla Edna May Higginsville (Lake Cowan) Aphrodite Matilda (Wiluna) Agnew (Vivien) South Kalgoorlie (New Celebration/ Mt Marion Lithium) Cue Gold (Day Dawn) Carol Lake Vale N. System Vale S.E. System Sossego Our Portfolio 404 TOTAL 112 Producing 42 Advanced 250 Exploration Asset count as of April 8, 2022 (not all assets shown on map including exploration assets) Precious Metals Diversified Precious Metals Diversified Posse (Mara Rosa) Eskay Creek Rosemont/ Copper World FRANCO-NEVADA CORPORATION OVERVIEW PRECIOUS METALS DIVERSIFIED ASSETS RESERVES AND RESOURCES ADDITIONAL INFORMATION 17 Our Business A Diversified Portfolio of 404 Assets covering 63,000 km 2 . “ ”

Franco-Nevada 2022 Asset Handbook - Page 17

2022 ASSET HANDBOOK 18 FNV TSX NYSE “NSR” Net Smelter Return Ro yalty “GORR” Gr oss Overriding Royalty “GR” Gr oss Royalty “ORR” Overriding Ro yalty “FH” Fr eehold or Lessor Royalty “NPI” Net Pr ofits Interest “NRI” Net Ro yalty Interest “WI” W orking Interest “P” “Pr oducing” assets are those that have generated revenue from steady-state operations for Franco-Nevada or are expected to in the next year. “A” “ Advanced” assets are interests on projects which are not yet producing, but where in management’s view, the technical feasibility and commercial viability of extracting a mineral resource are demonstrable. “E” “Explor ation” assets represent interests on projects where technical feasibility and commercial viability of extracting a mineral resource are not demonstrable. Management uses the following criteria in its assessment of technical feasibility and commercial viability: (i) Geology: ther e is a known mineral deposit which contains mineral reserves or resources; or the project is adjacent to a mineral deposit that is already being mined or developed and there is sufficient geologic certainty of converting the deposit into mineral reserves or resources. (ii) Accessibility and authorization: ther e are no significant unresolved issues impacting the accessibility and authorization to develop or mine the mineral deposit, and social, environmental and governmental permits and approvals to develop or mine the mineral deposit appear obtainable. Re venue ($ millions) Asset Oper ator Inter est and % (Gold unless otherwise noted) 2021 2020 2019 Notes Precious Metals SOUTH AMERICA Candelaria Lundin Mining Str eam 68% Gold & Silver $ 116.5 $ 106.8 $ 103.1 6, P Antapaccay Glencore Str eam (indexed) Gold & Silver 111.6 118.5 100.4 6, P Antamina Teck Resources Str eam 22.5% Silver 94.1 57.0 44.9 6, P Condestable Southern Peaks Mining Str eam Gold & Silver, Fixed through 2025 then % (7 ) 22.5 – – 6, P Other (19 assets) 6.2 4.9 5.9 Px1, Ax7, Ex11 CENTRAL AMERICA & MEXICO Cobre Panama First Quantum Str eam (indexed) Gold & Silver 235.0 135.4 64.7 6, P Guadalupe-Palmarejo Coeur Mining Str eam 50% 83.4 79.0 49.7 1, 3, 6, P Other (1 asset) – 0.5 0.5 Ex1 UNITED STATES Stillwater Sibanye-Stillwater NSR 5% PGM 57.8 50.9 39.8 1, P Goldstrike Nevada Gold Mines NSR 2-4%, NPI 2.4-6% 25.3 20.7 21.2 1, 2, P Gold Quarry Nevada Gold Mines NSR 7.29% 7.5 10.7 15.6 1, 3, P Marigold SSR Mining NSR 1.75-5%, GR 0.5-4% 8.5 7.1 8.7 1, 2, 3, 4, P Bald Mountain Kinross Gold NSR/GR 0.875-5% 11.2 11.2 8.9 1, 2, 3, 4, P Other (37 assets) 12.5 12.2 7.6 Px5, Ax6, Ex26 CANADA Detour Lake Agnico Eagle Mines NSR 2% 25.3 20.4 16.8 P Sudbury KGHM International Str eam 50% PGM & Gold 17.4 40.1 41.2 1, 6, Px2 Hemlo Barrick Gold NSR 3%, NPI 50% 27.6 69.9 18.2 1, 5, P Brucejack Newcrest Mining NSR 1.2% 7.0 7.2 5.6 1, P Kirkland Lake Agnico Eagle Mines NSR 1.5-5.5%, NPI 20% 5.8 5.4 5.2 2, 3, P Other (72 assets) 10.3 12.3 8.3 Px5, Ax13, Ex54 REST OF WORLD MWS Harmony Gold Mining Str eam 25% 41.3 41.8 37.1 6, P Sabodala Endeavour Mining Str eam 6%, Fixed to 105,750 oz (8) 16.7 21.6 29.5 3, 6, P Tasiast Kinross Gold NSR 2% 6.7 14.3 10.9 P Subika (Ahafo) Newmont NSR 2% 11.6 10.4 17.4 1, P Karma Néré Mining Str eam 4.875% 9.9 28.9 20.2 6, P Duketon Regis Resources NSR 2% 11.1 9.6 7.7 1, P Other (69 assets) 12.9 14.0 15.5 Px11, Ax9, Ex49 Revenue - Precious Metals $ 995.7 $ 910.8 $ 704.6 OVERVIEW ASSET PORTFOLIO Precious Metals Our Business

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

Franco-Nevada 2022 Asset Handbook - Page 19

2022 ASSET HANDBOOK OVERVIEW Inside the Antapaccay processing mill, Peru 20 FNV TSX NYSE “ We are committed to providing capital and support to the companies and operations that lead the industry in responsible mining and resource extraction and are proud of the progress achieved during the year. - Paul Brink, President & CEO ” ESG ENVIRONMENTAL, SOCIAL AND GOVERNANCE

OVERVIEW PRECIOUS METALS DIVERSIFIED ASSETS RESERVES AND RESOURCES ADDITIONAL INFORMATION FRANCO-NEVADA CORPORATION 21 THE GOLD INVESTMENT THAT WORKS

Franco-Nevada 2022 Asset Handbook - Page 21

2022 ASSET HANDBOOK 22 FNV TSX NYSE OVERVIEW OUR ESG FOCUS ESG Good Governance & Shareholder Alignment Established board and management team aligned with shareholders with substantial ownership of company and having low G&A costs Responsible Capital Allocation Commitment to responsible mining and energy extraction as demonstrated through investments in operators and operations with proven track records Fostering Diversity and Inclusion Committed to furthering diversity and inclusion through the adoption of objective targets and ongoing sponsorships of diversity initiatives Community Contributions Contributing to our communities and engaging with our operators to partner in community initiatives where our royalty and stream assets are located Transparent ESG Disclosure Comprehensive annual ESG Report is available on our website and is aligned with leading sustainability frameworks, including TCFD and SASB 2022 ESG Report The Canadian Institute of Mining, Metallurgy and Petroleum Canadian Institute of Minin g, Metallu rgy and Petro leum Committed to WGC Responsible Gold Mining Principles UN Global Compact Participant 4 th ranked Canadian mining company in 2021 Board and Management own >$200M 1 in stock Low G&A even when compared to Gold ETF fees 1 Based on December 31, 2021 closing price Patron Sponsor Pledge to alleviate systemic black racism BOARD TARGET Independent Directors Women Directors 38% Board and Management Diverse Representation 40% by 2025 Accounting for a Sustainable Future

FRANCO-NEVADA CORPORATION 23 THE GOLD INVESTMENT THAT WORKS OVERVIEW PRECIOUS METALS DIVERSIFIED ASSETS RESERVES AND RESOURCES ADDITIONAL INFORMATION TOP ESG RATINGS ESG The use by Franco-Nevada Corporation of any MSCI ESG Research LLC or its affiliates (“MSCI”) data, and the use of MSCI logos, trademarks, service marks or index names herein, do not constitute a sponsorship, endorsement, recommendation, or promotion of Franco-Nevada Corporation by MSCI. MSCI services and data are the property of MSCI or its information providers, and are provided ‘as-is’ and without warranty. MSCI names and logos are trademarks or service marks of MSCI. Continental Resources solar-powered water recycling project, which Franco-Nevada is helping to finance Enseña Peru teachers and students in action Plaque commemorating our partnership with Coeur Mining to provide non-potable water in Guazapares, Chihuahua ESG LEADERSHIP Rated “AA” by MSCI in 2021 Rated “Prime” by ISS ESG in 2021 Rated #1 out of 96 gold companies

Franco-Nevada 2022 Asset Handbook - Page 23

2022 ASSET HANDBOOK 24 FNV TSX NYSE OVERVIEW 1 Starting in Q4 2021, r evenue from Franco-Nevada’s Energy assets are included in the calculation of Gold Equivalent Ounces (“GEOs”). GEOs for comparative periods have been recalculated to conform with the current presentation. GEOs include Franco-Nevada’s attributable share of production from our Mining and Energy assets, after applicable recovery and payability factors. GEOs are estimated on a gross basis for NSR royalties and, in the case of stream ounces, before the payment of the per ounce contractual price paid by the Company. For NPI royalties, GEOs are calculated taking into account the NPI economics. Silver, platinum, palladium, iron ore, oil, gas and other commodities are converted to GEOs by dividing associated revenue, which includes settlement adjustments, by the relevant gold price. The price used in the computation of GEOs earned from a particular asset varies depending on the royalty or stream agreement, which may make reference to the market price realized by the operator, or the average price for the month, quarter, or year in which the commodity was produced or sold. 2 As at December 31. 3 Adjusted Net Income and Adjusted Net Income per shar e are non-GAAP financial measures with no standardized meaning under International Financial Reporting Standards (“IFRS”) and might not be comparable to similar financial measures disclosed by other issuers. Refer to the “Non-GAAP Financial Measures” section starting on page 148 of this Asset Handbook. Gold Equivalent Ounces Sold 1 (000s) Revenue (US$ millions) Market Capitalization 2 (US$ billions) Dividends & DRIP Paid Revenue G&A amended Adjusted Net income Per Share GEOs Market Cap 900 750 600 450 300 150 – ‘09 ‘13 ‘10 ‘11 ‘12 ‘08 ‘14 ‘15 ‘16 ‘17 ‘18 $1,500 $1,250 $1,000 $750 $500 $250 $ – ‘09 ‘13 ‘10 ‘11 ‘12 ‘08 ‘14 ‘15 ‘16 ‘17 ‘18 $30 $25 $20 $15 $10 $ 5 $ – ‘09 ‘13 ‘10 ‘11 ‘12 ‘08 ‘14 ‘15 ‘16 ‘17 ‘18 1.0% 0.8% 0.6% 0.4% 0.2% –% ‘09 ‘13 ‘10 ‘11 ‘12 ‘08 ‘14 ‘15 ‘16 ‘17 ‘18 $4.50 $3.75 $3.00 $2.25 $1.50 $0.75 $ – ‘09 ‘13 ‘10 ‘11 ‘12 ‘08 ‘14 ‘15 ‘16 ‘17 ‘18 ‘19 ‘19 ‘19 ‘19 ‘19 ‘20 ‘21 ‘20 ‘21 ‘20 ‘21 ‘20 ‘21 ‘20 ‘21 $250 $225 $200 $175 $150 $125 $ 100 $ 75 $ 50 $ 25 $ – ‘09 ‘13 ‘10 ‘11 ‘12 ‘08 ‘14 ‘15 ‘16 ‘17 ‘18 ‘19 ‘20 ‘21 Dividends & DRIP Paid Revenue G&A amended Adjusted Net income Per Share GEOs Market Cap 900 750 600 450 300 150 – ‘09 ‘13 ‘10 ‘11 ‘12 ‘08 ‘14 ‘15 ‘16 ‘17 ‘18 $1,500 $1,250 $1,000 $750 $500 $250 $ – ‘09 ‘13 ‘10 ‘11 ‘12 ‘08 ‘14 ‘15 ‘16 ‘17 ‘18 $30 $25 $20 $15 $10 $ 5 $ – ‘09 ‘13 ‘10 ‘11 ‘12 ‘08 ‘14 ‘15 ‘16 ‘17 ‘18 1.0% 0.8% 0.6% 0.4% 0.2% –% ‘09 ‘13 ‘10 ‘11 ‘12 ‘08 ‘14 ‘15 ‘16 ‘17 ‘18 $4.50 $3.75 $3.00 $2.25 $1.50 $0.75 $ – ‘09 ‘13 ‘10 ‘11 ‘12 ‘08 ‘14 ‘15 ‘16 ‘17 ‘18 ‘19 ‘19 ‘19 ‘19 ‘19 ‘20 ‘21 ‘20 ‘21 ‘20 ‘21 ‘20 ‘21 ‘20 ‘21 $250 $225 $200 $175 $150 $125 $ 100 $ 75 $ 50 $ 25 $ – ‘09 ‘13 ‘10 ‘11 ‘12 ‘08 ‘14 ‘15 ‘16 ‘17 ‘18 ‘19 ‘20 ‘21 Dividends & DRIP Paid Revenue G&A amended Adjusted Net income Per Share GEOs Market Cap 900 750 600 450 300 150 – ‘09 ‘13 ‘10 ‘11 ‘12 ‘08 ‘14 ‘15 ‘16 ‘17 ‘18 $1,500 $1,250 $1,000 $750 $500 $250 $ – ‘09 ‘13 ‘10 ‘11 ‘12 ‘08 ‘14 ‘15 ‘16 ‘17 ‘18 $30 $25 $20 $15 $10 $ 5 $ – ‘09 ‘13 ‘10 ‘11 ‘12 ‘08 ‘14 ‘15 ‘16 ‘17 ‘18 1.0% 0.8% 0.6% 0.4% 0.2% –% ‘09 ‘13 ‘10 ‘11 ‘12 ‘08 ‘14 ‘15 ‘16 ‘17 ‘18 $4.50 $3.75 $3.00 $2.25 $1.50 $0.75 $ – ‘09 ‘13 ‘10 ‘11 ‘12 ‘08 ‘14 ‘15 ‘16 ‘17 ‘18 ‘19 ‘19 ‘19 ‘19 ‘19 ‘20 ‘21 ‘20 ‘21 ‘20 ‘21 ‘20 ‘21 ‘20 ‘21 $250 $225 $200 $175 $150 $125 $ 100 $ 75 $ 50 $ 25 $ – ‘09 ‘13 ‘10 ‘11 ‘12 ‘08 ‘14 ‘15 ‘16 ‘17 ‘18 ‘19 ‘20 ‘21 G&A as % of Market Capitalization (000s) Adjusted Net Income 3 Per Share (US$ per share) Dividends and DRIP Paid (US$ millions) Dividends & DRIP Paid Revenue G&A amended Adjusted Net income Per Share GEOs Market Cap 900 750 600 450 300 150 – ‘09 ‘13 ‘10 ‘11 ‘12 ‘08 ‘14 ‘15 ‘16 ‘17 ‘18 $1,500 $1,250 $1,000 $750 $500 $250 $ – ‘09 ‘13 ‘10 ‘11 ‘12 ‘08 ‘14 ‘15 ‘16 ‘17 ‘18 $30 $25 $20 $15 $10 $ 5 $ – ‘09 ‘13 ‘10 ‘11 ‘12 ‘08 ‘14 ‘15 ‘16 ‘17 ‘18 1.0% 0.8% 0.6% 0.4% 0.2% –% ‘09 ‘13 ‘10 ‘11 ‘12 ‘08 ‘14 ‘15 ‘16 ‘17 ‘18 $4.50 $3.75 $3.00 $2.25 $1.50 $0.75 $ – ‘09 ‘13 ‘10 ‘11 ‘12 ‘08 ‘14 ‘15 ‘16 ‘17 ‘18 ‘19 ‘19 ‘19 ‘19 ‘19 ‘20 ‘21 ‘20 ‘21 ‘20 ‘21 ‘20 ‘21 ‘20 ‘21 $250 $225 $200 $175 $150 $125 $ 100 $ 75 $ 50 $ 25 $ – ‘09 ‘13 ‘10 ‘11 ‘12 ‘08 ‘14 ‘15 ‘16 ‘17 ‘18 ‘19 ‘20 ‘21 Dividends & DRIP Paid Revenue G&A amended Adjusted Net income Per Share GEOs Market Cap 900 750 600 450 300 150 – ‘09 ‘13 ‘10 ‘11 ‘12 ‘08 ‘14 ‘15 ‘16 ‘17 ‘18 $1,500 $1,250 $1,000 $750 $500 $250 $ – ‘09 ‘13 ‘10 ‘11 ‘12 ‘08 ‘14 ‘15 ‘16 ‘17 ‘18 $30 $25 $20 $15 $10 $ 5 $ – ‘09 ‘13 ‘10 ‘11 ‘12 ‘08 ‘14 ‘15 ‘16 ‘17 ‘18 1.0% 0.8% 0.6% 0.4% 0.2% –% ‘09 ‘13 ‘10 ‘11 ‘12 ‘08 ‘14 ‘15 ‘16 ‘17 ‘18 $4.50 $3.75 $3.00 $2.25 $1.50 $0.75 $ – ‘09 ‘13 ‘10 ‘11 ‘12 ‘08 ‘14 ‘15 ‘16 ‘17 ‘18 ‘19 ‘19 ‘19 ‘19 ‘19 ‘20 ‘21 ‘20 ‘21 ‘20 ‘21 ‘20 ‘21 ‘20 ‘21 $250 $225 $200 $175 $150 $125 $ 100 $ 75 $ 50 $ 25 $ – ‘09 ‘13 ‘10 ‘11 ‘12 ‘08 ‘14 ‘15 ‘16 ‘17 ‘18 ‘19 ‘20 ‘21 Dividends & DRIP Paid Revenue G&A amended Adjusted Net income Per Share GEOs Market Cap 900 750 600 450 300 150 – ‘09 ‘13 ‘10 ‘11 ‘12 ‘08 ‘14 ‘15 ‘16 ‘17 ‘18 $1,500 $1,250 $1,000 $750 $500 $250 $ – ‘09 ‘13 ‘10 ‘11 ‘12 ‘08 ‘14 ‘15 ‘16 ‘17 ‘18 $30 $25 $20 $15 $10 $ 5 $ – ‘09 ‘13 ‘10 ‘11 ‘12 ‘08 ‘14 ‘15 ‘16 ‘17 ‘18 1.0% 0.8% 0.6% 0.4% 0.2% –% ‘09 ‘13 ‘10 ‘11 ‘12 ‘08 ‘14 ‘15 ‘16 ‘17 ‘18 $4.50 $3.75 $3.00 $2.25 $1.50 $0.75 $ – ‘09 ‘13 ‘10 ‘11 ‘12 ‘08 ‘14 ‘15 ‘16 ‘17 ‘18 ‘19 ‘19 ‘19 ‘19 ‘19 ‘20 ‘21 ‘20 ‘21 ‘20 ‘21 ‘20 ‘21 ‘20 ‘21 $250 $225 $200 $175 $150 $125 $ 100 $ 75 $ 50 $ 25 $ – ‘09 ‘13 ‘10 ‘11 ‘12 ‘08 ‘14 ‘15 ‘16 ‘17 ‘18 ‘19 ‘20 ‘21 OUR PERFORMANCE Track Record

FRANCO-NEVADA CORPORATION 25 THE GOLD INVESTMENT THAT WORKS 1-Y ear 2-Year 5-Year Since FNV Total Return Total Return Total Return Inception 1 Franco-Nevada - (US$) 2 28.4% 27.6% 20.7% 19.3% NASDAQ 8.1% 36.9% 20.4% 13.8% S&P 500 15.6% 34.5% 16.0% 10.5% Gold Bullion ETF 3 12.9% 10.5% 8.8% 6.0% Barclays US Aggregate Bond 4 (4.2% ) (1.8% ) 2.1% 3.4% GDX (index of mostly gold miners) 20.1% 30.5% 11.9% (0.0% ) Note: Total return assumes reinvestment of dividends over designated period Source: TD Securities; Bloomberg 1 Compounded annual total returns from December 20, 2007 to March 31, 2022 2 Since FNV inception returns in US$ are calculated assuming an initial cost of US$15.21 (based on an IPO price of C$15.20 and CAD/USD of 1.0009 on December 20, 2007). All other inde x returns are in US$ 3 SPDR Gold Trust 4 Bloomber g Barclays US Aggregate Bond Index OVERVIEW CAGR Since FNV Inception 1,2,3 PRECIOUS METALS DIVERSIFIED ASSETS RESERVES AND RESOURCES ADDITIONAL INFORMATION TRACK RECORD Track Record Since its IPO in 2007, Franco-Nevada has out performed all the relevant benchmarks. “ ” Based on TD Securities Up to March 31, 2021 20% 24% 12% 16% 4% 8% NASDAQ S&P 500 Gold Bullion ETF Barclays US Aggregate Bond GDX (index of mostly gold miners) –4% 0% 1 FNV Inception - December 20, 2007 2 Compounded annual total returns to March 31, 2022 3 Source: TD Securities; Bloomberg Franco-Nevada (FNV) - US$ basis

Franco-Nevada 2022 Asset Handbook - Page 25

2022 ASSET HANDBOOK 26 FNV TSX NYSE OVERVIEW 2021 - 2008 2021 3 2020 3 2019 3 2018 3 2017 3 2016 3 2015 3 2014 3 2013 3 2012 3 2011 3 2010 3 2009 3 2008 3 $ $ $ $ $ $ $ $ $ $ $ $ $ $ GEOs 1 sold (000s) 728.2 573.3 598.4 516.6 537.7 488.5 384.5 351.6 290.4 254.7 260.6 185.4 158.2 167.8 Revenue $ 1,300.0 $ 1,020.2 $ 844.1 $ 653.2 $ 675.0 $ 610.2 $ 443.6 $ 442.4 $ 400.9 $ 427.0 $ 411.2 $ 227.2 $ 199.7 $ 151.0 Operating Income $ 860.7 $ 336.5 $ 410.2 $ 188.8 $ 235.4 $ 155.4 $ 51.3 $ 155.8 $ 77.7 $ 146.7 $ 45.5 $ 87.3 $ 87.4 $ 38.1 Net Income (Loss) $ 733.7 $ 326.2 $ 344.1 $ 139.0 $ 194.7 $ 122.2 $ 24.6 $ 106.7 $ 11.7 $ 102.6 $ (6.8 ) $ 62.7 $ 80.9 $ 40.3 Basic Earnings (Loss) per share $ 3.84 $ 1.71 $ 1.83 $ 0.75 $ 1.06 $ 0.70 $ 0.16 $ 0.71 $ 0.08 $ 0.72 $ (0.05 ) $ 0.55 $ 0.76 $ 0.41 Adjusted Net Income 2 $ 673.6 $ 516.3 $ 341.5 $ 217.0 $ 198.3 $ 164.4 $ 88.9 $ 137.5 $ 138.3 $ 171.0 $ 136.0 $ 52.1 $ 32.0 $ 43.7 Adjusted Net Income 2 per share $ 3.52 $ 2.71 $ 1.82 $ 1.17 $ 1.08 $ 0.94 $ 0.57 $ 0.91 $ 0.94 $ 1.19 $ 1.08 $ 0.46 $ 0.30 $ 0.48 Adjusted EBITDA 2 $ 1,092.3 $ 839.6 $ 673.4 $ 519.6 $ 516.1 $ 489.1 $ 337.1 $ 356.0 $ 319.9 $ 347.5 $ 327.3 $ 180.0 $ 119.4 $ 127.2 Adjusted EBITDA 2 per share $ 5.72 $ 4.41 $ 3.59 $ 2.79 $ 2.82 $ 2.79 $ 2.37 $ 2.18 $ 2.43 $ 2.61 $ 1.58 $ 1.12 $ 1.30 $ 2.15 Dividends and DRIP Paid $ 221.4 $ 197.2 $ 187.0 $ 177.8 $ 167.9 $ 156.8 $ 129.0 $ 118.0 $ 104.4 $ 77.9 $ 49.2 $ 33.3 $ 28.2 $ 21.8 Dividends Paid per share $ 1.16 $ 1.03 $ 0.99 $ 0.95 $ 0.91 $ 0.87 $ 0.83 $ 0.78 $ 0.72 $ 0.54 $ 0.32 $ 0.29 C$ 0.28 C$ 0.24 Working Capital 4 $ 708.2 $ 610.5 $ 225.3 $ 153.5 $ 593.8 $ 323.6 $ 253.9 $ 677.8 $ 861.2 $ 822.4 $ 851.1 $ 572.7 $ 530.7 $ 239.1 Debt $ Nil $ Nil $ 80.0 $ 207.6 $ Nil $ Nil $ 457.3 $ Nil $ Nil $ Nil $ Nil $ Nil $ Nil $ Nil Total Shareholders’ Equity $ 6.0B $ 5.4B $ 5.1B $ 4.6B $ 4.7B $ 4.1B $ 3.2B $ 3.4B $ 3.0B $ 3.1B $ 2.8B $ 2.0B $ 1.9B $ 1.4B Market Capitalization 5 $ 26.5B $ 23.9B $ 19.6B $ 13.1B $ 14.9B $ 10.7B $ 7.2B $ 7.7B $ 6.0B $ 8.3B $ 5.3B $ 3.8B $ 3.2B $ 1.7B 1 Starting in Q4 2021, r evenue from Franco-Nevada’s Energy assets are included in the calculation of Gold Equivalent Ounces (“GEOs”). GEOs for comparative periods have been recalculated to conform with the current presentation. GEOs include Franco-Nevada’s attributable share of production from our Mining and Energy assets, after applicable recovery and payability factors. GEOs are estimated on a gross basis for NSR royalties and, in the case of stream ounces, before the payment of the per ounce contractual price paid by the Company. For NPI royalties, GEOs are calculated taking into account the NPI economics. Silver, platinum, palladium, iron ore, oil, gas and other commodities are converted to GEOs by dividing associated revenue, which includes settlement adjustments, by the relevant gold price. The price used in the computation of GEOs earned from a particular asset varies depending on the royalty or stream agreement, which may make reference to the market price realized by the operator, or the average price for the month, quarter, or year in which the commodity was produced or sold. 2 Adjusted Net Income, Adjusted Net Income per shar e, Adjusted EBITDA, and Adjusted EBITDA per share are non-GAAP financial measures with no standardized meaning under International Financial Reporting Standards (“IFRS”) and might not be comparable to similar financial measures disclosed by other issuers. Refer to the “Non-GAAP Financial Measur es” section starting on page 148 of this Asset Handbook. 3 Fiscal years 2010 thr ough 2021 were prepared in accordance with IFRS. Fiscal years 2008 and 2009 were prepared in accordance with Canadian GAAP. Comparative information has been adjusted to conform to current presentation. 4 The Company defines W orking Capital as current assets less current liabilities. 5 As at December 31. HISTORICAL PERFORMANCE Track Record

FRANCO-NEVADA CORPORATION 27 THE GOLD INVESTMENT THAT WORKS OVERVIEW 2021 3 2020 3 2019 3 2018 3 2017 3 2016 3 2015 3 2014 3 2013 3 2012 3 2011 3 2010 3 2009 3 2008 3 $ $ $ $ $ $ $ $ $ $ $ $ $ $ GEOs 1 sold (000s) 728.2 573.3 598.4 516.6 537.7 488.5 384.5 351.6 290.4 254.7 260.6 185.4 158.2 167.8 Revenue $ 1,300.0 $ 1,020.2 $ 844.1 $ 653.2 $ 675.0 $ 610.2 $ 443.6 $ 442.4 $ 400.9 $ 427.0 $ 411.2 $ 227.2 $ 199.7 $ 151.0 Operating Income $ 860.7 $ 336.5 $ 410.2 $ 188.8 $ 235.4 $ 155.4 $ 51.3 $ 155.8 $ 77.7 $ 146.7 $ 45.5 $ 87.3 $ 87.4 $ 38.1 Net Income (Loss) $ 733.7 $ 326.2 $ 344.1 $ 139.0 $ 194.7 $ 122.2 $ 24.6 $ 106.7 $ 11.7 $ 102.6 $ (6.8 ) $ 62.7 $ 80.9 $ 40.3 Basic Earnings (Loss) per share $ 3.84 $ 1.71 $ 1.83 $ 0.75 $ 1.06 $ 0.70 $ 0.16 $ 0.71 $ 0.08 $ 0.72 $ (0.05 ) $ 0.55 $ 0.76 $ 0.41 Adjusted Net Income 2 $ 673.6 $ 516.3 $ 341.5 $ 217.0 $ 198.3 $ 164.4 $ 88.9 $ 137.5 $ 138.3 $ 171.0 $ 136.0 $ 52.1 $ 32.0 $ 43.7 Adjusted Net Income 2 per share $ 3.52 $ 2.71 $ 1.82 $ 1.17 $ 1.08 $ 0.94 $ 0.57 $ 0.91 $ 0.94 $ 1.19 $ 1.08 $ 0.46 $ 0.30 $ 0.48 Adjusted EBITDA 2 $ 1,092.3 $ 839.6 $ 673.4 $ 519.6 $ 516.1 $ 489.1 $ 337.1 $ 356.0 $ 319.9 $ 347.5 $ 327.3 $ 180.0 $ 119.4 $ 127.2 Adjusted EBITDA 2 per share $ 5.72 $ 4.41 $ 3.59 $ 2.79 $ 2.82 $ 2.79 $ 2.37 $ 2.18 $ 2.43 $ 2.61 $ 1.58 $ 1.12 $ 1.30 $ 2.15 Dividends and DRIP Paid $ 221.4 $ 197.2 $ 187.0 $ 177.8 $ 167.9 $ 156.8 $ 129.0 $ 118.0 $ 104.4 $ 77.9 $ 49.2 $ 33.3 $ 28.2 $ 21.8 Dividends Paid per share $ 1.16 $ 1.03 $ 0.99 $ 0.95 $ 0.91 $ 0.87 $ 0.83 $ 0.78 $ 0.72 $ 0.54 $ 0.32 $ 0.29 C$ 0.28 C$ 0.24 Working Capital 4 $ 708.2 $ 610.5 $ 225.3 $ 153.5 $ 593.8 $ 323.6 $ 253.9 $ 677.8 $ 861.2 $ 822.4 $ 851.1 $ 572.7 $ 530.7 $ 239.1 Debt $ Nil $ Nil $ 80.0 $ 207.6 $ Nil $ Nil $ 457.3 $ Nil $ Nil $ Nil $ Nil $ Nil $ Nil $ Nil Total Shareholders’ Equity $ 6.0B $ 5.4B $ 5.1B $ 4.6B $ 4.7B $ 4.1B $ 3.2B $ 3.4B $ 3.0B $ 3.1B $ 2.8B $ 2.0B $ 1.9B $ 1.4B Market Capitalization 5 $ 26.5B $ 23.9B $ 19.6B $ 13.1B $ 14.9B $ 10.7B $ 7.2B $ 7.7B $ 6.0B $ 8.3B $ 5.3B $ 3.8B $ 3.2B $ 1.7B 1 Starting in Q4 2021, revenue from Franco-Nevada’s Energy assets are included in the calculation of Gold Equivalent Ounces (“GEOs”). GEOs for comparative periods have been recalculated to conform with the current presentation. GEOs include Franco-Nevada’s attributable share of production from our Mining and Energy assets, after applicable recovery and payability factors. GEOs are estimated on a gross basis for NSR royalties and, in the case of stream ounces, before the payment of the per ounce contractual price paid by the Company. For NPI royalties, GEOs are calculated taking into account the NPI economics. Silver, platinum, palladium, iron ore, oil, gas and other commodities are converted to GEOs by dividing associated revenue, which includes settlement adjustments, by the relevant gold price. The price used in the computation of GEOs earned from a particular asset varies depending on the royalty or stream agreement, which may make reference to the market price realized by the operator, or the average price for the month, quarter, or year in which the commodity was produced or sold. 2 Adjusted Net Income, Adjusted Net Income per share, Adjusted EBITDA, and Adjusted EBITDA per share are non-GAAP financial measures with no standardized meaning under International Financial Reporting Standards (“IFRS”) and might not be comparable to similar financial measures disclosed by other issuers. Refer to the “Non-GAAP Financial Measures” section starting on page 148 of this Asset Handbook. 3 Fiscal years 2010 through 2021 were prepared in accordance with IFRS. Fiscal years 2008 and 2009 were prepared in accordance with Canadian GAAP. Comparative information has been adjusted to conform to current presentation. 4 The Company defines Working Capital as current assets less current liabilities. 5 As at December 31. PRECIOUS METALS DIVERSIFIED ASSETS RESERVES AND RESOURCES ADDITIONAL INFORMATION Track Record We have a unique approach to the royalty and streaming business that is born from experiencing many industry cycles. We avoid long-term debt to ensure strong capital availability at all times. “ ”

Franco-Nevada 2022 Asset Handbook - Page 27

GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD SILVER SILVER SILVER] SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SIL- VER PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATI- NUM OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVrR SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE OVERVIEW 2022 ASSET HANDBOOK 28 FNV TSX NYSE ORGANIC GROWTH DRIVERS Growth Outlook Over the last 15 years Franco-Nevada’s GEOs have grown over four times through organic expansions and acquisitions. In 2021, GEO sales were 728,237 GEOs. The outlook is equally as good. Our guidance 1 is for total GEO sales of 680,000 to 740,000 GEOs in 2022 growing to 765,000 to 825,000 GEOs by 2026 through organic growth alone. We have a strong pipeline of opportunities to add further growth through acquisition. Cobre Panama is expected to be the largest growth driver through the period with First Quantum looking to expand the mine from its current 85Mtpa throughput to 100Mtpa by the end of 2023. That growth is expected to be complemented by a combination of mine expansions and a number of new mines commencing production. Cobre Panama Stillwater Subika Detour Lake Tasiast Vale Macassa Island Gold Salares Norte Yandal/Bronzewing Séguéla Greenstone (Hardrock) Posse (Mara Rosa) Valentine Lake Aphrodite Eskay Creek Rosemont/Copper World 1 See InDesign file, page 28 2 Expansion periods are based on operators’ indicated period of ramp-up 3 Indicated start periods are based on operators’ guidance and FNV best estimates Expansions 2022 Q1 Q2 Q3 Q4 2023 Q1 Q2 Q3 Q4 2024 Q1 Q2 Q3 Q4 2025 Q1 Q2 Q3 Q4 2026 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 New Mines Est. Start 21 3 Panama Montana Ghana Ontario Mauritania Brazil Ontario Ontario Chile Australia Côte d’Ivoire Ontario Brazil Newfoundland Australia British Columbia Arizona 1 2022 Guidance and 2026 Outlook as published on Mar ch 9, 2022. Assuming: $1,800/oz Au, $23.00/oz Ag, $1,000/oz Pt, $2,100/oz Pd, $125/tonne Fe 62% CFR China, $85/bbl WTI oil and $3.75/mcf Henry Hub natur al gas 2 Expansion periods ar e based on operators’ indicated period of ramp-up 3 Indicated start periods ar e based on operators’ guidance and FNV best estimates

GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD SILVER SILVER SILVER] SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SIL- VER PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATI- NUM OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVrR SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE OVERVIEW PRECIOUS METALS DIVERSIFIED ASSETS RESERVES AND RESOURCES ADDITIONAL INFORMATION FRANCO-NEVADA CORPORATION 29 THE GOLD INVESTMENT THAT WORKS Optionality There are numerous interests in our deep portfolio expected to drive long-term growth. In particular, we have royalties on a suite of next generation copper assets: Cascabel (Alpala) in Ecuador, Rosemont/Copper World in Arizona, Taca Taca in Argentina, and NuevaUnión and Vizcachitas both in Chile. We also have royalties that cover much of the Ring of Fire in Northern Ontario which hosts some of the world’s largest chromite resources, along with nickel, copper and gold deposits. Another asset with large scale potential is the Crawford nickel deposit that is being delineated in Ontario. We profile all these assets in this Asset Handbook, although the descriptions are not exhaustive. In addition to the profiled assets we have another 223 exploration assets which are listed on pages 97-99 and 114-115. There is no doubt there will be more discoveries from the total 63,000 km 2 that our portfolio covers across the best mineral trends in the world in the coming years. ROYALTY OPTIONALITY IPO $1.2B paid for portfolio Reserves increase at no cost Proven & Probable Mineral Reserves (Moz) 1 Calculation includes depletion 2 Total ounces associated with top 37 assets at IPO. Total ounces are not the same as Franco-Nevada Royalty Ounces. All Mineral Reserves have been calculated in accordance with CIM or acceptable foreign codes for the purposes of NI 43-101, including S-K 1300, SEC Industry Guide 7, JORC, or SAMREC guidelines 3 Revenue from original FNV portfolio includes gold, platinum and palladium revenue >42 Moz gold produced >$1.8B 3 reve nue to FNV from po rtfo lio >3x increase 1 Gold ounces 2 at time of IPO Gold ounces 2 of same assets as reported Dec. 2021 2007 2008 - 2021 2021 120 100 80 60 40 20 0

Franco-Nevada 2022 Asset Handbook - Page 29

2022 ASSET HANDBOOK 30 FNV TSX NYSE Why We Measure “Royalty Ounces” Franco-Nevada’s mining properties that have reported Mineral Reserves and Mineral Resources are tabulated in the Mineral Reserves and Resources appendix of this Asset Handbook. Unless otherwise noted in the Royalty Ounce calculation for each asset, the figures are tabulated based on the publicly disclosed reports of each operator for each property on a 100% basis. However, the tabulation does not provide a specific measure for Franco-Nevada’s interest in such Mineral Reserves and Mineral Resources for the following reasons: • Ro yalty and stream interests have different economics than an operator has for its stated Mineral Reserves and Mineral Resources. In addition, the economics differ between NSR, NPI and stream interests • Some assets do not co ver the entire property associated with the operator’s publicly reported figures To account for the above, we calculate “Royalty Ounces” to estimate the value attributable to Franco-Nevada due to our economic interest in the Mineral Reserves and Mineral Resources of our portfolio. The value of a Royalty Ounce is normalized to that of a gold NSR ounce. How We Estimate “Royalty Ounces” A traditional NSR royalty on a gold mining property provides Franco-Nevada with a simple percentage of the revenue or gold-in-kind produced from that property. For example, if we have a 2% NSR royalty on a property we calculate 2% of the stated Mineral Reserves and Mineral Resources as our “Royalty Ounces”. Note we do not make adjustments for recoveries and refining fees. When calculating Royalty Ounces for a property our objective is that they should be comparable to an attributable gold NSR Royalty Ounce. To achieve comparable Royalty Ounce figures, we make adjustments in the following circumstances: 1. The r oyalty or stream does not cover all the Mineral Reserves or Resources on a property: We provide our best estimate of the percentage of Mineral Reserves and Mineral Resources that are attributable to our inter est. 2. A str eam interest with an associated ongoing cost per ounce: The number of attributable stream ounces are factored to make them economically equivalent to a NSR ounce. For e xample, at an $1,800 per ounce gold price and a $400 cost per ounce, the stream ounces are factored by 77.7%. The factor depends on cost per ounce or the percentage margin written in the agreement. 3. A NPI r oyalty: A NPI is subject to the operating and capital costs specific to each asset. We generate our own internal mine life projections for each asset to determine a reasonable estimate of the economic equivalent of a gold NSR Royalty Ounce using an $1,800 gold price assumption. 4. An asset pr oducing silver, PGM or base/bulk metal: The number of attributable silver, platinum or palladium ounces, and attributable base/bulk metals pounds/tonnes are converted into Royalty Ounces. This year’s pricing assumptions for conversion include: $1,800 per ounce gold, $23 per ounce silver, $1,000 per ounce platinum, $2,100 per ounce palladium, $3.50 per pound copper, $9.00 per pound nickel, $0.95 per pound ferrochrome and $125/t Fe 62% CFR China for our calculations. In addition, NSR deductions can be more material for certain assets subject to deductions such as smelting and refining charges. For copper , nickel, ferrochrome and iron ore Royalty Ounce calculations deductions are more material compared to a typical gold NSR asset. In the Assets section of this Asset Handbook, we provide details for each asset that include summary figures for the Mineral Reserves (P&P Reserves), Mineral Resources (M&I Resources inclusive of P&P Reserves) and Inferred Mineral Resources (Inf Resources). We also provide the related P&P Royalty Ounces, M&I Royalty Ounces and Inf Royalty Ounces for each of those assets and the key guidance and assumptions that were required to derive those Royalty Ounces. Readers are cautioned that the Royalty Ounces are prepared by the management of Franco-Nevada and have not been reviewed or endorsed by the operators of the projects. OVERVIEW ROYALTY OUNCES Royalty Ounces

FRANCO-NEVADA CORPORATION 31 THE GOLD INVESTMENT THAT WORKS OVERVIEW PRECIOUS METALS DIVERSIFIED ASSETS RESERVES AND RESOURCES ADDITIONAL INFORMATION Royalty Ounces ROYALTY OUNCES BY MINERAL RESOURCE, LOCATION AND TYPE ROYALTY OUNCE GROWTH Royalty ounces represent cost-free ounces to Franco-Nevada. The following chart shows the Royalty Ounce growth over the last 11 years. ‘13 ‘12 ‘14 ‘15 ‘18 ‘16 ‘17 ‘19 ‘20 Royalty Ounces (000s) P&P Royalty Ounces ‘11 Exclusive M&I Royalty Ounces 20,000 18,000 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 0 ‘21 Royalty Ounces by Mineral Resource Category M&I Royalty Ounces 1 by Location M&I Royalty Ounces 1 by Type South America 32% Central America & Mexico 30% United States 18% Canada 14% Rest of World 6% P&P 50% M&I 27% Inferred 23% NSR 41% Stream 48% NPI 3% 1 M&I Royalty Ounces include P&P Royalty Ounces Other 8% Type Resource Category Location

Franco-Nevada 2022 Asset Handbook - Page 31

2022 ASSET HANDBOOK 32 FNV TSX NYSE OVERVIEW Royalty Ounces Royalty Ounces 1,2 Asset T ype P &P (000s) M&I 3 (000s) Inf (000s) Precious Metals South America Candelaria Str eam 851 1,586 125 Antapaccay Str eam 440 868 72 Antamina Str eam 201 585 560 Condestable Str eam n/a 180 89 Cerro Moro NSR 15 18 6 Salares Norte NSR 40 44 1 Cascabel (Alpala) 4 NSR – 621 99 Posse (Mara Rosa) NSR 9 12 – CentroGold (Gurupi) NSR – 13 4 Calcatreu NSR – 17 9 San Jorge NSR – 91 4 Central America & Mexico Cobre Panama Str eam 4,743 4,973 769 Guadalupe - Palmarejo Str eam 211 467 60 United States Stillwater NSR 1,237 2,040 2,021 Carlin Trend NSR/NPI 188 324 79 Marigold NSR 106 154 8 Bald Mountain NSR 16 139 23 Mesquite NSR 8 31 15 Castle Mountain NSR 110 157 43 Fire Creek/Midas NSR – 3 84 Hollister NSR – 2 8 Stibnite Gold NSR 82 103 21 Canada Detour Lake NSR 301 595 24 Sudbury Str eam 24 24 – Hemlo NSR/NPI 54 127 40 Brucejack NSR 47 86 37 Kirkland Lake NSR/NPI 28 66 70 Dublin Gulch (Eagle) NSR 31 44 4 Musselwhite NPI 38 47 9 Timmins West NSR 12 15 1 Canadian Malartic NSR 5 13 32 Island Gold NSR 7 9 19 Golden Highway - Holt Complex NSR – 131 86 Golden Highway - Hislop NSR – 7 4 Golden Highway - Aquarius NSR – 22 – Greenstone (Hardrock) NSR 166 213 93 Valentine Lake NSR 32 47 25 Eskay Creek NSR 39 52 3 Red Lake (Bateman) NSR 10 15 5 Courageous Lake NSR 66 81 40 Goldfields NSR – 20 4 Monument Bay NSR – 44 53 Red Mountain NSR 5 8 1 Fenelon-Martiniere NSR – 32 20 Marathon (Sally) NSR – 9 4 1 For information r egarding the calculation of each Royalty Ounce, please refer to the individual asset write-ups. We have assumed $1,800/oz Au, $23/oz Ag, $1,000/oz Pt, $2,100/oz Pd, $3.50/lb copper, $9.00/lb nickel, $0.95/lb ferrochrome and $125/t Fe 62% CFR China for our calculations 2 Metallur gical deductions have not been made to the Mineral Reserves and Mineral Resources shown in order to estimate metal produced 3 M&I Ro yalty Ounces include P&P Royalty Ounces. Vale S.A. only discloses Mineral Reserves and, for the individual Vale (Northern & Southeastern System) and Sossego Royalty Ounces, it is assumed that M&I Royalty Ounces only include P&P Royalty Ounces 4 Copper Ro yalty Ounces assume NSR deductions of 15% (for Sossego, please refer to the Vale asset write-up); Nickel Royalty Ounces and Ferrochrome Royalty Ounces assume NSR deductions of 30%. Please also refer to the individual Vale (Northern & Southeastern System) and LIORC asset write-ups for the deductions applied to the Iron Ore Royalty Ounces

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

Franco-Nevada 2022 Asset Handbook - Page 33

2022 ASSET HANDBOOK 34 FNV TSX NYSE OVERVIEW Royalty Ounces EXAMPLE ECONOMICS OF A ROYALTY VERSUS A STREAM The example below compares the value per ounce to Franco-Nevada of a 4% NSR, a 4% stream or a 4% NPI or WI. Assume for one ounce of gold, a sales price of $1,800, a “stream cost” of $400 per ounce and that the “all-in sustaining cost” 1 of the mine is $1,026 per ounce. Developed NSR Str eam NPI or WI 1 One ounce sold at $ 1,800 $ 1,800 $ 1,800 Applicable cost $ – $ 400 $ 1,026 Margin for AISC calculation $ 1,800 $ 1,400 $ 774 NSR, Stream or NPI % 4% 4% 4% Revenue per ounce to FNV $ 72 $ 56 $ 31 NSR equivalent 100% 78% 43% Alternatively – Ounces required to equal a 1% NSR 1.0 o z 1.3 o z 2.3 o z 1 For applicable costs for a developed NPI or WI, Franco-Nevada is, for illustrative purposes, assuming Barrick Gold Corporation’s (“Barrick”) 2021 all-in sustaining cash cost measur e, as Barrick is the operator of two assets at which Franco-Nevada has NPI interests. Based on the above economics, a comparable percentage NSR is 2.3 times more valuable than an equivalent Developed NPI or WI and almost 1.3 times more valuable than a stream interest. The NSR provides the highest margins and most downside protection to changes in the commodity price. The stream provides commodity price leverage similar to a low cost operating company with certainty as to future costs. The NPI or WI provides the most leverage to commodity price. A NSR provides the highest margins and most downside protection A Stream provides leverage to changes in the commodity price A NPI or WI provides the most leverage to commodity price. “ ” Duketon Mine, Australia

FRANCO-NEVADA CORPORATION 35 THE GOLD INVESTMENT THAT WORKS Precious Metals Assets 38 South America 48 Central America and Mexico 52 United States 66 Canada 84 Rest of World 97 Precious Metals Exploration Assets PRECIOUS METALS A NSR provides the highest margins and most downside protection A Stream provides leverage to changes in the commodity price A NPI or WI provides the most leverage to commodity price.

Franco-Nevada 2022 Asset Handbook - Page 35

2022 ASSET HANDBOOK 36 FNV TSX NYSE PRECIOUS METALS South America Candelaria (Au & Ag) 39 Antapaccay (Au & Ag) 40 Antamina (Ag) 41 Condestable (Au & Ag) 42 Cerro Moro (Au & Ag) 43 Salares Norte (Au & Ag) 44 Cascabel (Alpala) (Au) 45 Posse (Mara Rosa) (Au & Ag) 46 CentroGold (Gurupi) (Au) 46 Calcatreu (Au & Ag) 47 San Jorge (Au) 47 Central America and Mexico Cobre Panama (Au & Ag) 49 Guadalupe-Palmarejo (Au) 51 United States Stillwater (PGM) 53 Goldstrike (Au) 54 Gold Quarry (Au) 55 Marigold (Au) 56 Bald Mountain (Au) 58 South Arturo (Au) 59 Mesquite (Au) 60 Castle Mountain (Au) 61 Fire Creek/Midas (Au & Ag) 62 Hollister (Au) 63 Stibnite Gold (Au) 64 Sterling (Au) 65 Granite Creek (Pinson) (Au) 65 Canada Detour Lake (Au) 67 Sudbury (PGM & Au) 68 Hemlo (Au) 69 Brucejack (Au & Ag) 70 Kirkland Lake (Au) 71 Dublin Gulch (Eagle) (Au) 72 Musselwhite (Au) 73 Timmins West (Au) 74 Canadian Malartic (Au) 75 Island Gold (Au) 76 Golden Highway (Au) 77 Greenstone (Hardrock) (Au) 78 Valentine Lake (Au) 79 Eskay Creek (Au & Ag) 80 Red Lake (Bateman) (Au) 80 Courageous Lake (Au) 81 Goldfields (Au) 81 Monument Bay (Au) 82 Red Mountain (Au) 82 Cariboo (Au) 83 Rest of World MWS (Au) 85 Sabodala (Au) 86 Tasiast (Au) 87 Subika (Ahafo) (Au) 88 Karma (Au) 89 Duketon (Au) 90 Edikan (Au) 91 Matilda (Wiluna) (Au) 92 South Kalgoorlie (Au) 92 Agnew (Vivien) (Au) 93 Kiziltepe (Au & Ag) 93 Sissingué (Au) 94 Pandora (PGM) 94 Yandal (Bronzewing) (Au) 95 Aphrodite (Au) 95 Séguéla (Au) 96 Perama Hill (Au) 96 Precious Metals Explor ation Assets 97 Iron Ore Vale (Iron Ore, Cu, Au & Other) 104 LIORC (Iron Ore) 106 Other Mining NuevaUnión (Relincho) (Cu, Au, Mo) 107 Taca Taca (Cu, Au, Mo) 108 Milpillas (Cu) 109 Falcondo (Ni) 109 Rosemont/Copper World (Cu, Mo, Ag, Au) 110 Robinson (Cu, Au) 111 EaglePicher (De) 111 Ring of Fire (Cr, Ni, Cu, PGM) 112 Mt Keith (Ni) 113 Flying Fox (Ni) 114 Diversified Explor ation Assets 114 U.S. Energy Marcellus 118 Haynesville 119 SCOOP/STACK 120 Permian Basin 121 Canadian Energy Weyburn Unit 122 Orion 123 Energy Exploration Assets 126 Precious Metals Diversified PRECIOUS METALS/DIVERSIFIED Asset Index Precious Metals

FRANCO-NEVADA CORPORATION 37 THE GOLD INVESTMENT THAT WORKS PRECIOUS METALS The description and depiction of our assets in this Asset Handbook has been simplified for presentation purposes. More detailed and current information may be available in our previous and subsequent disclosure and on our website. Mineral Reserves and Mineral Resources information for 2020 and 2019 is provided for comparative purposes only. For a detailed breakdown of the 2020 and 2019 Mineral Reserves and Mineral Resources, please refer to our AIF for each of the years ended December 31, 2020 and December 31, 2019, respectively available on SEDAR at www.sedar.com. DIVERSIFIED ASSETS RESERVES AND RESOURCES ADDITIONAL INFORMATION Precious Metals Diversified PRECIOUS METALS/DIVERSIFIED Alphabetical Asset Index Diversified Assets Agnew (Vivien) (Au) 93 Antamina (Ag) 41 Antapaccay (Au & Ag) 40 Aphrodite (Au) 95 Bald Mountain (Au) 58 Brucejack (Au & Ag) 70 Calcatreu (Au & Ag) 47 Canadian Malartic (Au) 75 Candelaria (Au & Ag) 39 Cariboo (Au) 83 Cascabel (Alpala) (Au) 45 Castle Mountain (Au) 61 CentroGold (Gurupi) (Au) 46 Cerro Moro (Au & Ag) 43 Cobre Panama (Au & Ag) 49 Condestable (Au & Ag) 42 Courageous Lake (Au) 81 Detour Lake (Au) 67 Dublin Gulch (Eagle) (Au) 72 Duketon (Au) 90 Edikan (Au) 91 Eskay Creek (Au & Ag) 80 Fire Creek/Midas (Au & Ag) 62 Gold Quarry (Au) 55 Golden Highway (Au) 77 Goldfields (Au) 81 Goldstrike (Au) 54 Granite Creek (Pinson) (Au) 65 Greenstone (Hardrock) (Au) 78 Guadalupe-Palmarejo (Au) 51 Hemlo (Au) 69 Hollister (Au) 63 Island Gold (Au) 76 Karma (Au) 89 Kirkland Lake (Au) 71 Kiziltepe (Au & Ag) 93 Marigold (Au) 56 Matilda (Wiluna) (Au) 92 Mesquite (Au) 60 Monument Bay (Au) 82 Musselwhite (Au) 73 MWS (Au) 85 Pandora (PGM) 94 Perama Hill (Au) 96 Posse (Mara Rosa) (Au & Ag) 46 Precious Metals Explor ation Assets 97 Red Lake (Bateman) (Au) 80 Red Mountain (Au) 82 Sabodala (Au) 86 Salares Norte (Au & Ag) 44 San Jorge (Au) 47 Séguéla (Au) 96 Sissingué (Au) 94 South Arturo (Au) 59 South Kalgoorlie (Au) 92 Sterling (Au) 65 Stibnite Gold (Au) 64 Stillwater (PGM) 53 Subika (Ahafo) (Au) 88 Sudbury (PGM & Au) 68 Tasiast (Au) 87 Timmins West (Au) 74 Valentine Lake (Au) 79 Yandal (Bronzewing) (Au) 95 Diversified Exploration Assets 114 EaglePicher (De) 111 Energy Exploration Assets 126 Falcondo (Ni) 109 Flying Fox (Ni) 114 Haynesville 119 LIORC (Iron Ore) 106 Marcellus 118 Milpillas (Cu) 109 Mt Keith (Ni) 113 NuevaUnión (Relincho) (Cu, Au, Mo) 107 Orion 123 Permian Basin 121 Ring of Fire (Cr, Ni, Cu, PGM) 112 Robinson (Cu, Au) 111 Rosemont/Copper World (Cu, Mo, Ag, Au) 110 SCOOP/STACK 120 Taca Taca (Cu, Au, Mo) 108 Vale (Iron Ore, Cu, Au & Other) 104 Weyburn Unit 122

Franco-Nevada 2022 Asset Handbook - Page 37

2022 ASSET HANDBOOK 38 FNV TSX NYSE Millmerran Red October Henty Mt Keith Duketon Yandal (Bronzewing/Julius) King Vol Bowen Basin South Kalgoorlie (Mt Martin) Flying Fox Australia Subika (Ahafo) Tasiast Sabodala Edikan MWS Perama Hill Kiziltepe Karma Sissingue Pandora Franco-Nevada Australia Office CentroGold (Gurupi) Cerro Moro San Jorge Antamina Salares Norte/ Rio Baker Antapaccay Candelaria Calcatreu Agate Creek White Dam Condestable Séguéla Edna May Higginsville (Lake Cowan) Aphrodite Matilda (Wiluna) Agnew (Vivien) South Kalgoorlie (New Celebration/ Mt Marion Lithium) Cue Gold (Day Dawn) Agi Dagi ̆ ̆ Producing Advanced Producing (Energy) Cascabel (Alpala) Posse (Mara Rosa) Producing Advanced PRECIOUS METALS SOUTH AMERICA

Franco-Nevada 2022 Asset Handbook - Page 38

FRANCO-NEVADA CORPORATION 39 THE GOLD INVESTMENT THAT WORKS N Kilometres 0 2.5 Candelaria Gold and Silver Stream Candelaria Mining Property Area of Interest Ojos del Salado Mining Property Tierra Amarilla Santos Mine Copiapo Candelaria North (U/G) Alcaparrosa Mine Candelaria Pit Candelaria South (U/G) La Espanola PRECIOUS METALS In November 2014, Franco-Nevada (Barbados) Corporation, a subsidiary of Franco-Nevada, acquired a gold and silver stream on production from the Candelaria operation in Chile. Lundin Mining Corporation (“Lundin”) is the operator of the project and owns 80% of the asset with the balance owned by Sumitomo Corporation and its affiliates. Franco-Nevada provided an up-front deposit of $655 million to acquire the gold and silver stream from what is primarily a copper mine. The funds were used to finance a portion of the cost paid by Lundin to acquire the asset from Freeport-McMoRan Inc. Candelaria is an established mining operation and the transaction was the first material instance of a royalty/streaming company partnering with an operating company to purchase a producing asset. The str eam covers the current property position of approximately 150 km 2 . An additional defined area of interest effectively doubles the property position. Should Lundin acquire properties located within the area of interest, Franco-Nevada has the option to purchase a gold and silver stream which will apply to the additional ore from such properties. The str eam covers 68% of the payable gold and silver from 100% of the mine which reduces to 40% after 720,000 ounces of gold and 12 million ounces of silver have been delivered to Franco-Nevada, which are currently expected to occur in late 2026 and late 2027, respectively. Cumulatively, 427,690 ounces of gold and 6.8 million ounces of silver have been delivered since acquisition until December 31, 2021. Franco-Nevada pays an ongoing price equal to the lesser of $420.40 per ounce of gold and $4.20 per ounce of silver or the then prevailing spot price for gold and silver 2021 2020 2019 Revenue to Franco-Nevada ($ million) $ 116.5 $ 106.8 $ 103.1 P&P Reserves (koz Au) 1 2,700 2,800 2,700 M&I Resource (koz Au) 1 5,600 5,600 4,900 Inferred Resource (koz Au) 1 500 300 300 P&P Reserves (moz Ag) 1 39.0 39.0 38.0 M&I Resource (moz Ag) 1 83.0 78.0 66.0 Inferred Resource (moz Ag) 1 7.0 4.0 4.0 P&P Royalty Ounces (000s) 2 851 920 840 M&I Royalty Ounces (000s) 1, 2 1,586 1,629 1,338 Inf Royalty Ounces (000s) 2 125 75 68 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 P&P Royalty Ounces include payable metal of the balance of the 720,000 ounces of gold and 12 million ounces of silver remaining and the balance of P&P Reserves subject to the lower stream percentage. For M&I Royalty Ounces, Franco-Nevada has assumed the P&P Royalty Ounces with the balance of M&I Resources subject to the lower stream percentage. For Inf Royalty Ounces, Franco-Nevada assumes Inferred Mineral Resources are subject to the lower stream percentage. Silver is converted to Royalty Ounces assuming $1,800/oz gold and $23.00/oz silver ($1,750/oz gold and $25.00/oz silver in 2020, $1,400/oz gold and $18.00/oz silver in 2019). The stream interest has been factored by 77% to reflect $1,800 per ounce gold and $420.40 per ounce ongoing payments (76% in 2020, 71% in 2019) for each ounce delivered under the stream. This price escalates by 1% per annum in October of each year. The Candelaria mine was disco vered in 1987 and the open pit has been in operation since 1993. The operation also includes the Candelaria North and South, Santos and Alcaparrosa underground mines. Lundin has made a significant investment in exploration at Candelaria. With the exploration success, Lundin has extended the go forward mine life from 2028, when it acquired Candelaria, to 2044. Lundin has successfully added to the Mineral Reserves and Mineral Resources at the four underground mines and has discovered the La Española open-pit deposit which is located partly on the stream concession and partly on ground covered by Franco-Nevada’s area of interest. Fr anco-Nevada sold 65,034 GEOs from the mine in 2021, compared with 59,655 GEOs in 2020. In 2022, Franco-Nevada expects sales from its Candelaria stream to be between 60,000 and 70,000 GEOs. DIVERSIFIED ASSETS RESERVES AND RESOURCES ADDITIONAL INFORMATION Candelaria Au & Ag Chile, South America Operator: Lundin Mining Corporation Stream: Gold and Silver Stream Precious Metals South America Updated plan extends life of mine to 2040 Successfully increased reserves and resources at four underground mines; demonstrating continued strong exploration potential Pacific Ocean ARGENTINA BOLIVIA PERU BRAZIL CHILE Candelaria Millmerran Red October Henty Mt Keith Duketon Yandal (Bronzewing/Julius) King Vol Bowen Basin South Kalgoorlie (Mt Martin) Flying Fox Australia Subika (Ahafo) Tasiast Sabodala Edikan MWS Perama Hill Kiziltepe Karma Sissingue Pandora Franco-Nevada Australia Office CentroGold (Gurupi) Cerro Moro San Jorge Antamina Salares Norte/ Rio Baker Antapaccay Candelaria Calcatreu Agate Creek White Dam Condestable Séguéla Edna May Higginsville (Lake Cowan) Aphrodite Matilda (Wiluna) Agnew (Vivien) South Kalgoorlie (New Celebration/ Mt Marion Lithium) Cue Gold (Day Dawn) Agi Dagi ̆ ̆ Producing Advanced Producing (Energy) Cascabel (Alpala) Posse (Mara Rosa) Producing Advanced Lundin Mining Corporation Candelaria, Chile

Franco-Nevada 2022 Asset Handbook - Page 39

2022 ASSET HANDBOOK 40 FNV TSX NYSE South America In February 2016, Franco-Nevada (Barbados) Corporation, a subsidiary of Franco-Nevada, acquired a precious metals stream on production from the Antapaccay mine for $500 million from Glencore plc (“Glencore”) and its subsidiaries. Antapaccay is located within the province of Espinar in Southern Peru – a district with a long mining history. The property also hosts the historic Tintaya open-pit mine and related infrastructure which began operating in 1984. Glencore (Xstrata) invested in excess of $1.5 billion of initial capital to build and commission the Antapaccay open-pit mine and plant, which commenced operations in 2012. Under the str eaming agreement, gold and silver deliveries are initially referenced to copper in concentrate shipped. Franco-Nevada will receive 300 ounces of gold and 4,700 ounces of silver for each 1,000 tonnes of copper in concentrate shipped, until 630,000 ounces of gold and 10 million ounces of silver have been delivered, which is currently expected to occur in 2028. Cumulatively, 350,840 ounces of gold and 5.5 million ounces of silver have been delivered since acquisition until December 31, 2021. Thereafter, Franco-Nevada will receive 30% of the gold and silver shipped. Franco-Nevada will initially pay an on-going price of 20% of the spot price of gold and silver until 750,000 ounces of refined gold and 12.8 million ounces of refined silver have been delivered. Thereafter, the on-going price will increase to 30% of the spot price of gold and silver. The str eam is referenced to the entire Antapaccay concession covering approximately 997 km 2 . Glencore is considering developing the Coroccohuayco deposit which is located within 10 km of the 2021 2020 2019 Revenue to Franco-Nevada ($ million) $ 111.6 $ 118.5 $ 100.4 P&P Reserves (koz Au) 1 1,222 1,204 1,892 M&I Resource (koz Au) 1 3,279 3,161 3,082 Inferred Resource (koz Au) 1 383 201 265 P&P Reserves (moz Ag) 1 17.6 17.2 38.3 M&I Resource (moz Ag) 1 70.6 65.4 66.7 Inferred Resource (moz Ag) 1 6.2 2.5 3.7 P&P Royalty Ounces (000s) 2 440 469 652 M&I Royalty Ounces (000s) 1, 2 868 861 889 Inf Royalty Ounces (000s) 2 72 34 47 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 P&P Royalty Ounces include payable metal of the remaining deliveries before the 630,000 ounces of gold and 10 million ounces of silver hurdle with the balance of Mineral Reserves subject to a 30% stream. For M&I Royalty Ounces, Franco-Nevada assumes the P&P Royalty Ounces with the balance of M&I Resources subject to the 30% stream. For Inferred Royalty Ounces, Franco-Nevada assumes Inferred Mineral Resources are subject to the 30% stream. Silver has been converted to Royalty Ounces assuming $1,800/oz gold and $23.00/oz silver ($1,750/oz gold and $25.00/oz silver in 2020, $1,400/oz gold and $18.00/oz silver in 2019). The stream interest has been factored by different ongoing payments of 20% of the spot price of gold and silver on the first 750,000 ounces of gold and 12.8 million ounces of silver and 30% of the spot price thereafter Antapaccay plant. The project has been rescoped as an open pit with mine planning currently at the PFS level. Coroccohuayco hosts M&I Mineral Resources of 643 million tonnes with a copper grade that is approximately 50% higher than the Antapaccay Mineral Reserves. In addition, there are a number of large-scale regional targets and prospects on the Antapaccay concessions. Fr anco-Nevada sold 62,411 GEOs from the mine in 2021, compared with 65,901 GEOs in 2020, and in 2022 expects sales from its Antapaccay stream to be between 47,500 and 57,500 GEOs due to expected lower grades partly due to a planned pit lay-back. Antapaccay has a planned mine life to 2033 which would be further extended by any development of Coroccohuayco. Antapaccay Au & Ag Peru, South America Operator: Glencore plc Stream: Gold and Silver Stream Precious Metals Gold and silver deliveries initially referenced to copper in concentrate shipped Potential for Coroccohuayco to extend mine life Land package of 997 km 2 offers a number of large-scale regional targets PRECIOUS METALS Antapaccay Precious Metals Stream Not included Antapaccay Pit Coroccohuayco Km 0 10 Antapaccay Concession Area Antapaccay Concession area covers ~997 km 2 * Tintaya Pit/ Tailings Storage Antapaccay Plant Tintaya Plant 8 Km Pacific Ocean ARGENTINA BOLIVIA PERU BRAZIL COLOMBIA EQUADOR CHILE Antapaccay Antapaccay, Peru

FRANCO-NEVADA CORPORATION 41 THE GOLD INVESTMENT THAT WORKS In October 2015, Franco-Nevada acquired a silver stream for $610 million on production from the Antamina mine in Peru from Teck Resources Limited (“Teck”). Teck has a 22.50% interest in Compañía Minera Antamina S.A. (“CMA”), the Antamina joint venture company, along with partners BHP Billiton Plc (33.75%), Glencore (33.75%) and Mitsubishi Corporation (10.00%). Antamina is an established mine that commenced operations in 2001 and is one of the lowest cost copper operations globally. Silver sold for 2021 was 3.8 million ounces for Fr anco-Nevada’s attributable production under the stream, with 2.8 million ounces sold in 2020. Antamina experienced a temporary shutdown due to COVID-19 in 2020. Franco-Nevada expects attributable production in 2022 to be towards the higher end of our long-term expected annual range of 2.8 million to 3.2 million silver ounces. The stream is based on recovered silver from Teck’s attributable 22.50% interest in the Antamina mine, subject to a fixed silver payability of 90%. Franco-Nevada pays 5% of the spot silver price for each ounce of silver delivered under the stream. The stream will reduce by one-third after 86 million ounces of silver have been delivered. A total of 21.8 million cumulative ounces of silver have been delivered to Franco-Nevada as of December 31, 2021. 2021 2020 2019 Revenue to Franco-Nevada ($ million) $ 94.1 $ 57 $ 44.9 P&P Reserves (moz Ag) 1 107.0 118.3 135.1 M&I Resource (moz Ag) 1 324.9 342.5 334.7 Inferred Resource (moz Ag) 1 447.7 460.7 463.6 P&P Royalty Ounces (000s) 2 201 231 237 M&I Royalty Ounces (000s) 1, 2 585 642 575 Inf Royalty Ounces (000s) 2 560 599 543 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 assumes 22.5% of Teck’s interest in Antamina is subject to our stream interest and that the stream reduces by 33% once 86 million silver ounces have been delivered. Silver has been converted to Royalty Ounces assuming $1,800/oz gold and $23.00/oz ($1,750/oz gold and $25.00/oz in 2020, $1,400/oz gold and $18.00/oz in 2019). The stream interest has been factored by ongoing payments of 5% of the spot price of silver Antamina Ag Peru, South America Operator: Teck Resources Limited (owns 22.50%) Stream: Silver Stream Precious Metals South America High grade copper/zinc orebody One of the lowest cost copper operations globally Large, high grade Inferred Mineral Resource South America Antamina Paramonga Pativilca Lima Barranca Huacho Huaral Chancay Pto. Supe Cutatambo Autopista Panamericana Norte Autopista Panamericana Norte Cajacay Chasquitambo Conococha Carretera Pativilca-Huarez Huarmey Punta Lobitos CMA Puerto Minero Aquia Chiquian Catac Pachacoto Recuay Huaraz Huallanca Huanzala Yanashall Machac Huari San Marcos Chavui De Huantar PARQUE NACIONAL HUASCARAN Subestacion Linea de Transmision Electrica CMA Pipeline PERU Pacific Ocean N Miles 0 60 Antamina Silver Stream Inclusive of Miner al Reserves, the mine contains total Measured and Indicated Mineral Resources of approximately 925 million tonnes of ore (with a silver grade of 10.9 g/t) and an Inferred Mineral Resource of 1.26 billion tonnes of ore (with a silver grade of 11.0 g/t). Total Mineral Reserves are 336 million tonnes of ore (with a silver grade of 9.9 g/t), which are currently constrained by tailings disposal capacity. Based on currently permitted tailings storage capacity, the mine life is expected to continue until 2028. CMA is currently conducting engineering studies for additional tailings storage options and alternative mine plans that could result in significant mine life extensions. Any mine life extension will require a modification of Antamina’s current Environmental Impact Assessment certificate, a process that began in October 2019 with the submission of the study area and common terms of reference to Peruvian regulators for a mine life extension to 2036. A decision in respect of the requested modification is expected in 2023. Historically, a high level of Inferred Mineral Resources have converted to Measured and Indicated Mineral Resources and ultimately to Mineral Reserves. Beyond the known Mineral Reserves and Mineral Resources, Antamina hosts additional potential open-pit and bulk/selective underground targets. There is also regional exploration potential over a large, prospective land package greater than 700 km 2 . PRECIOUS METALS DIVERSIFIED ASSETS RESERVES AND RESOURCES ADDITIONAL INFORMATION Antamina, Peru

Franco-Nevada 2022 Asset Handbook - Page 41

2022 ASSET HANDBOOK 42 FNV TSX NYSE Santiago Antofagasta Arequipa Cusco Mina Justa Cerro Pelado Santo Domingo Teresa de Colm’o Punta del Cobre Mantoverde El Espino Panulcillo IOCG Deposit Lima La Paz Salta N 0 250 Kilometers Condestable Candelaria Cretaceous IOCG Belt IOCG Mine (FNV Stream) Pacific Ocean Bolivia Argentina Chile Peru Condestable UG Surface Facilities Raul UG V inchos UG Pacific Ocean N 0 5 Kilometers Condestable Gold and Silver Stream Condestable Mining Property 102 km to Lima Pan American Hwy On March 8, 2021, Franco-Nevada (Barbados) Corporation, a subsidiary of Franco-Nevada, closed a precious metals stream on production from the Condestable mine in Peru, for an up-front deposit of $165 million. The Condestable mine is located approximately 90 km south of Lima, Peru, and is owned and operated by a majority-owned subsidiary of Southern Peaks Mining LP (“SPM”), a private company . The Condestable mine has a demonstrated operating track record of over 50 years with a proven history of resource conversion. For the first 5 years of the str eaming agreement, commencing on January 1, 2021 and ending December 31, 2025, Franco-Nevada will receive 8,760 ounces of gold and 291,000 ounces of silver annually until a total of 43,800 ounces of gold and 1,455,000 ounces of silver have been delivered (the “Fixed Deliveries”). Thereafter, Franco-Nevada will receive 63% of the contained gold and contained silver produced until a cumulative total of 87,600 ounces of gold and 2,910,000 ounces of silver have been delivered (the “Variable Phase 1 Deliveries”). The stream then reduces to 25% over the remaining life of mine (the “Variable Phase 2 Deliveries”). Franco-Nevada will pay 20% of the spot price for gold and silver for each ounce delivered under the stream (the “Ongoing Payment”). The stream has an effective date of January 1, 2021, with the first quarterly delivery received on March 15, 2021. For a period of four years fr om closing, subject to certain restrictions, a subsidiary of SPM may, at its option, make a one-time special delivery comprising the number of ounces of refined gold equal to $118.8 million at the then current spot price subject to the Ongoing Payment, to achieve the early payment of the Fixed Deliveries and Variable Phase 1 Deliveries. The Variable Phase 2 Deliveries would commence immediately thereafter. The str eam is referenced to the entire Condestable concessions covering approximately 450 km 2 with excellent near mine exploration upside. SPM is currently ramping up processing capacity at the Condestable mine from 7,000 tpd to 8,400 tpd and is advancing a feasibility study on additional plant capacity expansion to 10,000 tpd. 2021 2020 2019 Revenue to Franco-Nevada ($ million) $ 22.5 $ – $ – P&P Reserves (koz Au) 1 170 n/a – M&I Resource (koz Au) 1 701 711 – Inferred Resource (koz Au) 1 480 481 – P&P Reserves (moz Ag) 1 5.2 n/a – M&I Resource (moz Ag) 1 17.6 17.9 – Inferred Resource (moz Ag) 1 12.3 12.3 – P&P Royalty Ounces (000s) 2 n/a n/a – M&I Royalty Ounces (000s) 1, 2 180 188 – Inf Royalty Ounces (000s) 2 89 92 – 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 fixed deliveries for M&I Royalty Ounces of 8,760 ounces of gold and 291,000 ounces of silver per year until December 2025; then, 63% of gold and silver until 87,600 ounces of gold and 2,910,000 ounces of silver are delivered, respectively; thereafter, 25% of gold and silver ounces are subject to the stream. For Inferred Royalty Ounces, Franco-Nevada assumes 25% of gold and silver from Inferred Mineral Resources (25% in 2020) are subject to the stream. Silver has been converted to Royalty Ounces assuming $1,800/oz gold and $23.00/oz ($1,750/oz gold and $25.00/oz in 2020). The stream interest has been factored by ongoing payments of 20% of the spot price of gold and silver Condestable Au & Ag Peru, South America Operator: Southern Peaks Mining LP Stream: Gold and Silver Stream Precious Metals Proven operation with excellent potential for expansions and mine life extension (over 50-year operating history) Large, prospective land package of approximately 450 km 2 Santiago Antofagasta Arequipa Cusco Mina Justa Cerro Pelado Santo Domingo Teresa de Colm’o Punta del Cobre Mantoverde El Espino Panulcillo IOCG Deposit Lima La Paz Salta N 0 250 Kilometers Condestable Candelaria Cretaceous IOCG Belt IOCG Mine (FNV Stream) Pacific Ocean Bolivia Argentina Chile Peru Condestable UG Surface Facilities Raul UG V inchos UG Pacific Ocean N 0 5 Kilometers Condestable Gold and Silver Stream Condestable Mining Property 102 km to Lima Pan American Hwy South America PRECIOUS METALS Condestable, Peru

FRANCO-NEVADA CORPORATION 43 THE GOLD INVESTMENT THAT WORKS Cerro Moro Royalty Area 2% NSR Royalty Claim Area Not Included Under 2% NSR N Kilometres 0 5 Michelle Zoe Deborah Martina Tres Lomas Esperanza Loma Escondida N Buenos Aires Cerro Moro CHILE ARGENTINA BRAZIL BOLIVIA URUGUAY PARAGUAY Carla Elsa Escondida Nini Nini Ext Natalia Natalia NW PLANT Franco-Nevada has a 2% NSR on the Cerro Moro mine operated by Yamana Gold Inc. (“Yamana”) in Santa Cruz province, Argentina. The royalty covers approximately 160 km 2 of the property including a significant portion of the mineral resources which are contained in high-grade epithermal gold and silver veins. Construction at Cerr o Moro was completed in 2018 with commercial production being declared in June 2018. For 2021, actual production was 79,988 ounces of gold and 5.582 million ounces of silver. Production benefitted from access to additional mining faces, which supported an increase in mill feed coming from higher-grade underground ore. 2022 production at Cerro Moro is expected to be 95,000 ounces of gold, with silver production expected to be 5.3 million ounces of silver. Yamana’s long-term plan at Cerro Moro is to create ten-years of sustainable production of at least 160,000 gold equivalent ounces 1 per year. Y amana continues to report exploration success and mine life extension in its 10-year outlook for Cerro Moro. If Yamana implements both a plant expansion and added heap leach project, along with conversion of known exploration targets to mineral resources, it is anticipated that Cerro Moro could produce at least 200,000 gold equivalent ounces 1 per year. Yamana has initiated an infill drilling program to expand and define the most promising lower-grade, heap leach targets. New mineral reserves added in 2021 at a higher average gold to silver ratio, as well as higher grade silver targets, will be followed up with drilling in 2022. 1 Please r efer to Yamana’s public disclosures for further details on its definition of gold equivalent ounces. 2021 2020 2019 Revenue to Franco-Nevada ($ million) $ 4.9 $ 4.1 $ 5.1 P&P Reserves (koz Au) 2 457 431 529 M&I Resource (koz Au) 2 574 521 706 Inferred Resource (koz Au) 2 226 254 273 P&P Reserves (moz Ag) 2 22.2 23.9 30.5 M&I Resource (moz Ag) 2 30.0 30.1 44.3 Inferred Resource (moz Ag) 2 8.2 8.8 15.5 P&P Royalty Ounces (000s) 3 15 15 18 M&I Royalty Ounces (000s) 2, 3 18 18 24 Inf Royalty Ounces (000s) 3 6 7 9 2 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 3 For Ro yalty Ounce calculation, Franco-Nevada estimates 100% of the Mineral Reserves, 95% of the M&I Mineral Resources (95% in 2020, 95% in 2019) and 95% of the Inferred Mineral Resources (95% in 2020, 95% in 2019) are subject to our royalty interest and estimates a rate of 2.0% is applicable. Silver has been converted assuming $1,800/oz gold and $22.00/oz silver ($1,750/oz gold and $25.00/oz silver in 2020, $1,400/oz gold and $18.00/oz silver in 2019) Cerro Moro Au & Ag Argentina, South America Operator: Yamana Gold Inc. Royalty: NSR: 2% Precious Metals South America PRECIOUS METALS DIVERSIFIED ASSETS RESERVES AND RESOURCES ADDITIONAL INFORMATION High grade gold/silver deposit with expansion potential Significant near-mine and regional exploration targets Cerro Moro, Argentina

Franco-Nevada 2022 Asset Handbook - Page 43

2022 ASSET HANDBOOK 44 FNV TSX NYSE In early 2019, Franco-Nevada acquired an existing 2% NSR on the Salares Norte project being advanced by Gold Fields Limited (“Gold Fields”) in the Atacama region of Northern Chile. The royalty is subject to a 1% buyback by Gold Fields within 24 months of announcing commercial production, for $6.0 million. In September 2020, Franco-Nevada acquired an additional 2% NSR on all mineral production from Gold Fields’ Rio Baker concessions for $5.0 million in cash with contingent payments of up to $8.0 million. The Rio Baker claims cover the North-West extension of the Salares Norte deposit and the royalty acquisition provided Franco-Nevada with exposure to 100% of the Salares Norte project. Salar es Norte is a blind epithermal gold and silver deposit and represents one of Gold Fields’ key development projects. Gold Fields’ 2019 feasibility study for the project included a Mineral Reserve containing 3.5 million ounces of gold and 39.3 million ounces of silver (21.1 million tonnes grading 5.1 g/t gold and 57.9 g/t silver). The feasibility study envisaged an open-pit mining operation with an initial mine life of 11.5 years, producing 450,000 ounces of gold equivalent 1 per year for the first 7 years. Construction of the Salar es Norte mine commenced in 2020 and pre-stripping of the pit and construction of the processing plant started in January 2021. Gold Fields reported that the project remains on schedule for first production in the first quarter of 2023 and expects to continue exploring near-mine potential and to test district potential. In February 2022, Gold Fields announced that it forecasts production to build up to 203,000 ounces of gold equivalent 1 in 2023 and 550,000 ounces of gold equivalent 1 in 2024. 1 Please r efer to Gold Fields’ public disclosures for further details on its definition of gold equivalent. 2021 2020 2019 Revenue to Franco-Nevada ($ million) $ – $ – $ – P&P Reserves (koz Au) 2 3,476 3,476 3,476 M&I Resource (koz Au) 2 3,804 3,804 3,800 Inferred Resource (koz Au) 2 109 109 110 P&P Reserves (moz Ag) 2 39.3 39.3 39.3 M&I Resource (moz Ag) 2 42.9 42.9 42.9 Inferred Resource (moz Ag) 2 0.7 0.7 0.8 P&P Royalty Ounces (000s) 3 40 81 80 M&I Royalty Ounces (000s) 2, 3 44 88 87 Inf Royalty Ounces (000s) 3 1 2 2 2 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 3 For Ro yalty Ounce calculation, Franco-Nevada estimates 100% of the Mineral Reserves & Mineral Resources (100% in 2020, 100% in 2019) are subject to our royalty interest and estimates a rate of 1.0% (2.0% in 2020, 2.0% in 2019) in anticipation that Gold Fields exercises its right to repurchase 1.0% of the 2.0% NSR. Silver has been converted assuming $1,800/oz gold and $23.00/oz silver ($1,750/oz gold and $25.00/oz silver in 2020, $1,400/oz gold and $18.00/oz silver in 2019) Salares Norte Au & Ag Chile, South America Operator: Gold Fields Limited Royalty: NSR: 1-2% Precious Metals Production remains on schedule for Q1 2023 Feasibility report estimates initial 11.5-year mine life Positive near-mine exploration serves to potentially extend mine Brecha Principal N Salares Norte Royalty Area Agua Amarga Salares Norte Rio Baker 0.5 Kilometre 0 1 High-grade gold sub-domains 2017 EIA pit outline Main low-grade domains Antofagasta La Serena Santiago Copiapo Relincho CHILE ARGENTINA BOLIVIA PERU Vizcachitas San Jorge Taca Taca Salares Norte South America PRECIOUS METALS Salares Norte, Chile

FRANCO-NEVADA CORPORATION 45 THE GOLD INVESTMENT THAT WORKS In 2020, Franco-Nevada acquired a 1% NSR on the Alpala copper-gold-silver project located in northern Ecuador being advanced by SolGold plc (“SolGold”). Alpala is a copper-gold porphyry deposit and represents one of the largest copper-gold projects being advanced globally. The royalty covers nearly 50 km 2 of the Cascabel mining concessions including the Alpala and the Tandayama-America (“TAM”) deposit. The Cascabel pr oject is owned by Exploraciones Novamining SA, which is held 85% by SolGold and 15% by Cornerstone Capital Resource Inc. The royalty is in reference to all minerals produced with the option by Franco-Nevada to convert the royalty to a gold NSR for a period of time once Alpala is producing. Franco-Nevada is further entitled to receive certain minimum royalty payments starting in 2028. The royalty agreement includes an option to buy back 50% of the royalty for a period of time. SolGold completed a pr eliminary economic assessment on Alpala in 2019 and is currently advancing a prefeasibility study on the Cascabel project which it expects to release in Q2 2022. The Measured and Indicated Mineral Resource in the preliminary economic assessment include a high-grade core containing 12.3 million ounces of gold, 3.8 million tonnes of copper, and 33.3 million ounces of silver (442 million tonnes grading 0.86 g/t Au, 0.87% Cu, and 2.34 g/t Ag). In total, the Measured and Indicated Mineral Resources contain 21.7 million ounces of gold, 9.9 million tonnes of copper, and 92.2 million ounces of silver (2,663 million tonnes grading 0.25 g/t gold, 0.37% Cu and 1.08 g/t silver). The preliminary economic assessment study contemplates a large-scale underground block cave operation with an initial mine life of more than 50 years, producing 207,000 tonnes of copper, 438,000 ounces of gold, and 1.4 million ounces of silver per year for the first 25 years (under the 50 Mtpa mining scenario). The upcoming pr efeasibility study is expected to consider a lower throughput, but higher-grade operation, while maintaining expansion potential to optimize the upfront capital and construction schedules. Explor ation has yielded encouraging results on the broader Cascabel concessions with the identification of a highly mineralized 2021 2020 2019 Revenue to Franco-Nevada ($ million) $ – $ – $ – P&P Reserves (Mlbs Cu) 1 – – – M&I Resource (Mlbs Cu) 1 22,994 21,826 – Inferred Resource (Mlbs Cu) 1 4,012 2,866 – P&P Reserves (koz Au) 1 – – – M&I Resource (koz Au) 1 22,900 21,700 – Inferred Resource (koz Au) 1 3,140 1,900 – P&P Reserves (moz Ag) 1 – – – M&I Resource (moz Ag) 1 92.2 92.2 – Inferred Resource (moz Ag) 1 10.6 10.6 – P&P Royalty Ounces (millions) 2 – – – M&I Royalty Ounces (millions) 1, 2 621 601 – Inf Royalty Ounces (millions) 2 99 69 – 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 100% of the Mineral Reserves and Mineral Resources are subject to our royalty interest and estimates a rate of 1.0% (0.85% for copper Royalty Ounces which factors a NSR smelting charge of 15%). Copper has been converted to Royalty Ounces assuming $3.50 per pound and silver has been converted to Royalty Ounces assuming $1,800/oz gold and $23.00/oz silver ($1,750/oz gold and $25.00/oz silver in 2020) Cascabel (Alpala) Au Ecuador, South America Operator: SolGold plc Royalty: NSR: 1% Precious Metals South America PRECIOUS METALS DIVERSIFIED ASSETS RESERVES AND RESOURCES ADDITIONAL INFORMATION system at TAM, located approximately 3 km north of the Alpala deposit, and covered by the Franco-Nevada royalty. SolGold declared a maiden mineral resource at TAM in October 2021 comprising 233.0 million tonnes at 0.33% copper equivalent containing 0.53 million tonnes of copper and 1.20 million ounces of gold in the Indicated category , plus 197.0 million tonnes at 0.39% copper equivalent containing 0.52 million tonnes of copper and 1.24 million ounces of gold in the Inferred category. The TAM deposit has open-pit mining potential. The Alpala underground project is a long lead time project with full production not expected until after 2030. Access to open pit material may enable initial production to potentially start as early as 2026. Cascabel (Alpala), Ecuador One of the largest copper-gold development projects in the world Prefeasibility study expected in Q2 2022 Alpala Northwest High-grade core Alpala Upper Zone Alpala Deeps >0.15% CuEq >0.7% CuEq >1.5% CUEq Cascabel (Alpala) Cross Section Looking West N 0 1 Kilometer Hwy Transverse Frontier 0.1% Copper Equivalent 0.4% Copper Equivalent 1.0% Copper Equivalent Tracks Royalty Claim Area Alpala Rocafuerte Alpala Camp Tandayama America Aguinaga 1.0% CuEq 0.1% CuEq 0.4% CuEq 0.1% CuEq 0.1% CuEq Site Office Cascabel (Alpala) 1% NSR Area

Franco-Nevada 2022 Asset Handbook - Page 45

2022 ASSET HANDBOOK 46 FNV TSX NYSE Other South America Assets South America Precious Metals Please refer to the tables on pages 128-136 for a breakout of grade and tonnages by Mineral Resource category. Franco-Nevada holds a 1% NSR royalty on the Posse open-pit project located in Mara Rosa in the State of Goiás, Brazil. Hochschild Mining Plc (“Hochschild”) acquired the project through its acquisition of Amarillo Gold Corporation (“Amarillo”) in April 2022. Hochschild has revised the August 2020 feasibility study prepared by Amarillo and the updated mine plan forecasts a 10-year mine life with average annual gold production of 80,000 ounces of gold per year with 100,000 ounces of gold per year over the first 4 years of production. The brownfield project benefits from existing infrastructure and received the License to Install from state regulators in February 2021 and approval for a power line in October 2021. Hochschild is targeting for construction to start in 2022, with production commencing in 2024. For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Reserves and Mineral Resources are subject to our royalty interest and estimates an average rate of 1.0% is applicable Posse (Mara Rosa) Au Brazil, South America Operator: Hochschild Mining Plc Royalty: NSR: 1% Precious Metals Franco-Nevada holds a sliding scale NSR royalty (1% at greater than $400 per ounce gold) on the CentroGold (Gurupi) project located in the State of Maranhão in northern Brazil. Oz Minerals Limited (“Oz Minerals”) acquired the previous operator, Avanco Resources Limited (“Avanco”), in 2018. Avanco completed a 100% earn-in agreement on the project with Jaguar Mining Inc. in October 2017. In July 2019, Oz Minerals released an updated prefeasibility study on the project which envisioned a 10-year mine life with average annual gold production of 100,000-120,000 ounces of gold per year with 190,000-210,000 ounces of gold per year in the first 2 years of production. There is currently a mining license injunction for the property but Oz Minerals is continuing with a community engagement program and is focused on permitting and relocation activities. The relocation plan required for progressing the court injunction removal has been completed and was submitted to the National Institute of Colonization and Agrarian Reform (INCRA). Oz Minerals has stated that a resource update, feasibility study and regional exploration will commence following the removal of the injunction. For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Reserves and Mineral Resources are subject to our royalty interest and estimates an average rate of 1.0% is applicable CentroGold (Gurupi) Au Brazil, South America Operator: Oz Minerals Limited Royalty: NSR: 0-1% Precious Metals South America PRECIOUS METALS

FRANCO-NEVADA CORPORATION 47 THE GOLD INVESTMENT THAT WORKS Other South America Assets South America Precious Metals Please refer to the tables on pages 128-136 for a breakout of grade and tonnages by Mineral Resource category. Franco-Nevada has a 2.5% NSR on the Calcatreu property in Argentina. Calcatreu is an epithermal gold-silver deposit located in the Province of Rio Negro. In December 2017, Patagonia Gold PLC (“Patagonia”) acquired the property from Pan American Silver Corp. (“Pan American Silver”). The Calcatreu deposit contains an Indicated Mineral Resource of 669,000 ounces of gold and 6.3 million ounces of silver (9.8 million tonnes grading 2.11 g/t gold and 19.83 g/t silver) and an Inferred Mineral Resource of 348,000 ounces of gold and 3.4 million ounces of silver (8.1 million tonnes grading 1.34 g/t gold and 13.09 g/t silver). Field work for a baseline environmental study continued in 2021, along with drilling, surface exploration and geophysics. Additional work, including new trenching and sampling, is planned to follow-up on positive geochemical results and a new ground magnetic survey was conducted in the southern part of the project. Exploration activities on the property have continued to move the project forward in 2021 and Patagonia's objective is for the completion of a prefeasibility study in 2022. For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Reserves and Mineral Resources are subject to our royalty interest and estimates an average rate of 2.5% is applicable Calcatreu Au & Ag Argentina, South America Operator: Patagonia Gold PLC Royalty: NSR: 2.5% Precious Metals San Jorge is a copper-gold porphyry project located in the Province of Mendoza, Argentina. Although the project is currently on care and maintenance, under the revised terms of the royalty agreement Franco-Nevada received annual payments of $1.25 million per year for a 10-year period which ended in 2021, with a subsequent 7.5% NSR on all gold produced from the property. Aterra Investments Ltd. and Solway Industries Ltd. acquired the property from Coro Mining Corp. in April 2015. Franco-Nevada acquired the royalty on the San Jorge property through its acquisition of Lumina Royalty Corp. in December 2011. For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Reserves and Mineral Resources are subject to our royalty interest and estimates an average rate of 7.5% is applicable San Jorge Au Argentina, South America Operator: Aterra Investments Ltd. and Solway Industries Ltd. Royalty: NSR: 7.5% Precious Metals South America PRECIOUS METALS DIVERSIFIED ASSETS RESERVES AND RESOURCES ADDITIONAL INFORMATION

Franco-Nevada 2022 Asset Handbook - Page 47

2022 ASSET HANDBOOK 48 FNV TSX NYSE Millmerran Red October Henty Mt Keith Duketon Yandal (Bronzewing/Julius) King Vol Bowen Basin South Kalgoorlie (Mt Martin) Flying Fox Australia Subika (Ahafo) Tasiast Sabodala Edikan MWS Perama Hill Kiziltepe Karma Sissingue Pandora Franco-Nevada Australia Office Agate Creek White Dam Séguéla Edna May Higginsville (Lake Cowan) Aphrodite Matilda (Wiluna) Agnew (Vivien) South Kalgoorlie (New Celebration/ Mt Marion Lithium) Cue Gold (Day Dawn) Agi Dagi ̆ ̆ Producing Advanced Producing (Energy) Cobre Panama Guadalupe-Palmarejo Producing PRECIOUS METALS CENTRAL AMERICA AND MEXICO

FRANCO-NEVADA CORPORATION 49 THE GOLD INVESTMENT THAT WORKS PRECIOUS METALS Camp Caribbean Sea Punta Rincón River Caimito N 4 km Cobre Panama Plant Site Concession Boundary Power Transmission 230 kv line Property located approximately 20 km from Caribbean Sea * Cobre Panama Project Panama City Panama Canal Pacific Ocean Caribbean Sea Port and Powerplant Balboa Pit Colina Pit Valle Grande Pit Botija Pit Brazo Pit Medio Pit Botija Abajo Pit 2021 2020 2019 Revenue to Franco-Nevada ($ million) $ 235.0 $ 135.4 $ 64.7 P&P Reserves (koz Au) 1, 2 7,104 7,298 7,120 M&I Resource (koz Au) 1, 2 7,396 7,318 7,658 Inferred Resource (koz Au) 1, 2 1,301 1,133 1,307 P&P Reserves (moz Ag) 1, 2 133.0 135.5 138.9 M&I Resource (moz Ag) 1, 2 152.9 153.5 157.1 Inferred Resource (moz Ag) 1, 2 38.1 36.4 38.2 P&P Royalty Ounces (000s) 2, 3 4,743 4,893 4,575 M&I Royalty Ounces (000s) 1, 2, 3 4,973 5,010 4,906 Inf Royalty Ounces (000s) 2, 3 769 706 772 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 Miner al Reserves and Mineral Resources and the related Royalty Ounces are based on publicly disclosed information as of March 11, 2022 and do not reflect First Quantum’s updated estimate 3 For Ro yalty Ounce calculation, Franco-Nevada assumes 88% of the Mineral Reserves and Mineral Resources are subject to our stream interest. Silver has been converted into Royalty Ounces assuming $1,800/oz gold and $23.00/oz silver ($1,750/oz gold and $25.00/silver in 2020, $1,400/oz gold and $18.00/oz silver in 2019) and a 62% (62% in 2020, 60% in 2019) factor has been applied to obtain a Royalty Ounce for the P&P category, a 61% (62% in 2020, 59% in 2019) factor has been applied for Royalty Ounces in the M&I category and a 50% factor has been applied for Royalty Ounces in the Inferred category until the mill throughput reached 58 Mtpa, Franco-Nevada was entitled to a 5% return on its capital invested. The return will be achieved by a $100 per gold ounce discount in the ongoing price for the initial ounces acquired. Throughput in 2021 was 81 Mtpa and the plant has since been operating at the annualized rate of 85 Mtpa for several months. First Quantum is executing the 100 Mtpa expansion project at Cobre Panama (“CP100”), with completion of construction works and commencement of commissioning targeted for the first quarter of 2023. This will allow for a ramp-up of production over the course of the year, achieving a throughput rate of 100 Mtpa by the end of 2023. Cobre Panama has a planned mine life in excess of 35 years. The delivery of pr ecious metals to Franco-Nevada is indexed to the copper in concentrate shipped. Franco-Nevada sold 131,062 GEOs from the mine in 2021, compared to 76,348 GEOs in 2020. In 2022, Franco-Nevada expects GEO sales from its Cobre Panama stream to be between 120,000 and 140,000 GEOs, relatively consistent with 2021. With r espect to the ongoing Law 9 discussions, First Quantum reported that the Government of Panama tabled a new proposal, namely that the Government should receive $375 million in benefits per year from Cobre Panama and that the existing revenue royalty payable to the Government will be replaced by a gross profit royalty. The parties continue to finalize the details behind these proposed principles. Franco-Nevada does not expect the current proposal to have a material impact on future deliveries pursuant to its stream agreement. On Mar ch 28, 2022, First Quantum released its updated Annual Information Form including updated Mineral Reserves and Mineral Resources for Cobre Panama as at December 31, 2021. Mineral Reserves of 6,861,000 gold ounces and 128,810,000 silver ounces were reported (2,935.9 million tonnes grading 0.07 g/t Au and 1.36 g/t Ag), with M&I Resources inclusive of Reserves of 7,159,000 gold ounces and 149,182,000 silver ounces (3,471.6 million tonnes grading 0.06 g/t Au and 1.34 g/t Ag), and Inferred Resources of 1,296,000 gold ounces and 37,990,000 silver ounces (1,090.4 million tonnes grading 0.04 g/t Au and 1.08 g/t Ag). Continued on next page DIVERSIFIED ASSETS RESERVES AND RESOURCES ADDITIONAL INFORMATION Cobre Panama Au & Ag Panama, Central America & Mexico Operator: First Quantum Minerals Ltd. Stream: Gold and Silver Stream Precious Metals Cobre Panama is one of the world’s largest copper-gold- silver porphyry deposits in operation and is 90% owned by First Quantum Minerals Ltd. (“First Quantum”) and 10% by Korea Resources Corp. (“KORES”). Franco-Nevada (Barbados) Corporation, a subsidiary of Franco-Nevada, contributed a total of $1.36 billion to the construction of Cobr e Panama. Franco-Nevada has two precious metals streams with slightly different terms: • Fix ed Payment Stream - Effective since 2015 and applies to First Quantum’s original 80% interest in Cobre Panama. • Floating Payment Str eam - Effective March 2018, Franco-Nevada (Barbados) Corporation added a new precious metals stream which increased its coverage to 100% of the ownership of the Cobre Panama operation. The Floating Payment Stream applies to First Quantum 's 10% indirect interest acquired from LS-Nikko Copper Inc. and KORES’ 10% indirect interest. The amount of pr ecious metals deliverable under both the Fixed Payment Stream and Floating Payment Stream is currently indexed to the copper in concentrate shipped until certain specified thresholds of gold and silver deliveries are met, currently expected to occur in 2028. The main difference between the Fixed Payment Stream and Floating Payment Stream is the ongoing price per ounce paid. As of November 2021, the current ongoing payment of the Fixed Payment Stream is fixed per ounce payments of $443.93/oz gold and $6.66/oz silver with a 1.5% annual inflation factor. The Floating Payment Stream ongoing price per ounce for deliveries is 20% of the spot price for the curr ent Mineral Reserve life and higher thereafter. First Quantum intr oduced first ore into the milling circuit on February 11, 2019 at Cobre Panama and the project achieved commercial production on September 1, 2019. From January 1, 2019 Expansion to achieve target throughput of 100 Mtpa during 2023 Concession covers an area of approximately 130 km 2 Low-cost operation close to tidewater Central America and Mexico Millmerran Red October Henty Mt Keith Duketon Yandal (Bronzewing/Julius) King Vol Bowen Basin South Kalgoorlie (Mt Martin) Flying Fox Australia Subika (Ahafo) Tasiast Sabodala Edikan MWS Perama Hill Kiziltepe Karma Sissingue Pandora Franco-Nevada Australia Office Agate Creek White Dam Séguéla Edna May Higginsville (Lake Cowan) Aphrodite Matilda (Wiluna) Agnew (Vivien) South Kalgoorlie (New Celebration/ Mt Marion Lithium) Cue Gold (Day Dawn) Agi Dagi ̆ ̆ Producing Advanced Producing (Energy) Cobre Panama Guadalupe-Palmarejo Producing

Franco-Nevada 2022 Asset Handbook - Page 49

2022 ASSET HANDBOOK 50 FNV TSX NYSE Central America and Mexico PRECIOUS METALS Cobre Panama is one of the world’s largest copper-gold- silver porphyry deposits in operation. Franco-Nevada contributed a total of $1.36 billion to its construction and has two precious metals streams. “ ” Continued from page 49 Cobre Panama, Panama

FRANCO-NEVADA CORPORATION 51 THE GOLD INVESTMENT THAT WORKS Guadalupe-Palmarejo Gold Stream Palmarejo Agua Salada Mill Guadalupe Mine Complex Independencia East Km 0 4 Perimeter of gold stream property La Nación La Bavisa Independencia West Zapata La Patria Independencia Mine Complex Non-stream ground 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 86% of the Mineral Reserves (84% in 2020, 81% in 2019), 90% of the exclusive M&I Mineral Resource (89% in 2020, 96% in 2019) and 88% of the Inferred Mineral Resource (87% in 2020, 88% in 2019) are subject to our 50% stream interest. The stream interest has been factored by 56% to reflect $1,800 per ounce gold ($1,750/oz gold in 2020, $1,400/oz gold in 2019) and $800 per ounce ongoing payments (54% in 2020, 43% in 2019) Guadalupe-Palmarejo Au Mexico, Central America & Mexico Operator: Coeur Mining, Inc. Stream: 50% Gold Stream Precious Metals Since January 2009, Franco-Nevada has received 50% of the gold produced from the Palmarejo operation located in Chihuahua Province, Mexico which is owned and operated by Coeur Mining, Inc. (“Coeur”). Palmarejo is a silver project with a considerable gold by-product. In June 2014, Fr anco-Nevada (Barbados) Corporation, a subsidiary of Franco-Nevada, entered into a new 50% gold stream with Coeur on the Palmarejo project with ongoing payments equal to the lesser of $800 per ounce (no inflation provision) and the then prevailing spot price for gold for each ounce delivered under the new gold stream agreement. The new agreement improved mine economics for Coeur and helped extend the mine life of the entire Palmarejo operation. The agreement applies to a land position totaling over 1,200 km 2 . Franco-Nevada provided an upfront $22 million deposit which was used to partially fund the development of the Guadalupe underground mine on the Palmarejo property. In the third quarter of 2016, the original stream agreement terminated once Coeur delivered the minimum ounce obligation of 400,000 ounces under that agreement. Fr anco-Nevada sold 46,506 ounces of gold from the mine in 2021, compared to 44,696 ounces of gold in 2020. Franco-Nevada estimates that over 80% of the existing Mineral Reserves and Mineral Resources are covered by the stream agreement. Production from the La Nación deposit, which straddles the stream ground border and is located between the Independencia and Guadalupe underground mines, started in early Q3 2019 with the majority of Mineral Reserves from La Nación falling on stream ground. Coeur drilled appr oximately 74,200 meters at the Palmarejo property in 2021, conducting infill drilling at Guadalupe and Independencia as well as targeting zones of mineralization near both mine complexes. 2021 2020 2019 Revenue to Franco-Nevada ($ million) $ 83.4 $ 79.0 $ 49.7 P&P Reserves (koz Au) 1 884 849 693 M&I Resource (koz Au) 1 1,931 1,462 1,118 Inferred Resource (koz Au) 1 246 280 367 P&P Royalty Ounces (000s) 2 211 194 120 M&I Royalty Ounces (000s) 1, 2 467 342 207 Inf Royalty Ounces (000s) 2 60 66 69 Exploration success has grown Mineral Reserves and Mineral Resources Mineral Reserves growing by approximately 4% in 2021 versus previous 2020 estimate, net of depletion Pacific Ocean NM TX CA AZ MEXICO Guadalupe- Palmarejo PRECIOUS METALS DIVERSIFIED ASSETS RESERVES AND RESOURCES ADDITIONAL INFORMATION Central America and Mexico Guadalupe-Palmarejo, Mexico

Franco-Nevada 2022 Asset Handbook - Page 51

2022 ASSET HANDBOOK 52 FNV TSX NYSE Millmerran Red October Henty Mt Keith Duketon Yandal (Bronzewing/Julius) King Vol Bowen Basin South Kalgoorlie (Mt Martin) Flying Fox Sterling Robinson Fire Creek Bald Mountain Marigold Midas Goldstrike Gold Quarry South Arturo Hollister Nevada Australia Subika (Ahafo) Tasiast Sabodala Edikan MWS Perama Hill Kiziltepe Karma Sissingue Pandora Castle Mountain Mesquite Nevada Stibnite Gold Franco-Nevada Australia Office Agate Creek White Dam Séguéla Edna May Higginsville (Lake Cowan) Aphrodite Matilda (Wiluna) Agnew (Vivien) South Kalgoorlie (New Celebration/ Mt Marion Lithium) Cue Gold (Day Dawn) Agi Dagi ̆ ̆ Producing Advanced Producing (Energy) Stillwater Granite Creek (Pinson) Producing Advanced PRECIOUS METALS UNITED STATES

FRANCO-NEVADA CORPORATION 53 THE GOLD INVESTMENT THAT WORKS N Stillwater Complex (Plan View) 5% NSR Franco-Nevada Royalty Land Franco- Nevada Royalty Franco- Nevada Royalty East Boulder Portal Site East Boulder Adit Stillwater Mill Site Camp Lake Boulder River East Boulder River Dr y Fork Creek Lewis Gulch West Fork Stillwater Stillwater River Limit of Claims Sweetgrass Co. Park Co. Stillwater Co. Sweetgrass Co. 1 Mile County line Stillwater Complex (Long Section) Not to scale Current and future planned production layouts Non-Royalty mill area Blitz Stillwater Mine East Boulder Mine Stillwater Wyoming Washington BC AB SK MB North Dakota Nebraska Nevada Oregon Idaho Utah California Colorado Montana South Dakota Millmerran Red October Henty Mt Keith Duketon Yandal (Bronzewing/Julius) King Vol Bowen Basin South Kalgoorlie (Mt Martin) Flying Fox Sterling Robinson Fire Creek Bald Mountain Marigold Midas Goldstrike Gold Quarry South Arturo Hollister Nevada Australia Subika (Ahafo) Tasiast Sabodala Edikan MWS Perama Hill Kiziltepe Karma Sissingue Pandora Castle Mountain Mesquite Nevada Stibnite Gold Franco-Nevada Australia Office Agate Creek White Dam Séguéla Edna May Higginsville (Lake Cowan) Aphrodite Matilda (Wiluna) Agnew (Vivien) South Kalgoorlie (New Celebration/ Mt Marion Lithium) Cue Gold (Day Dawn) Agi Dagi ̆ ̆ Producing Advanced Producing (Energy) Stillwater Granite Creek (Pinson) Producing Advanced PRECIOUS METALS DIVERSIFIED ASSETS RESERVES AND RESOURCES ADDITIONAL INFORMATION United States 2021 2020 2019 Revenue to Franco-Nevada ($ million) $ 57.8 $ 50.9 $ 39.8 P&P Reserves (koz PGM) 1 27,300 26,883 25,614 M&I Resource (koz PGM) 1 45,000 35,747 33,950 Inferred Resource (koz PGM) 1 44,600 45,327 45,910 P&P Royalty Ounces (000s) 2, 3 1,237 1,308 993 M&I Royalty Ounces (000s) 1, 3 2,040 1,739 1,316 Inf Royalty Ounces (000s) 2, 3 2,021 2,205 1,780 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 98% of the Mineral Reserves and Mineral Resources are subject to our royalty interest 3 Given mor e significant smelting and refining charges, Franco-Nevada estimates an average rate of 4.50% is applicable (assuming 10% for charges) and PGM ounces converted into Royalty Ounces assuming $1,000/ounce Pt and $2,100/ounce Pd ($1,100/ounce Pt and $2,200/ounce Pd in 2020, $1,050/ounce Pt and $1,300/ounce Pd in 2019) The Stillwater complex in Eastern Montana is comprised of the Stillwater mine (West and East) and East Boulder mine and is operated by Sibanye-Stillwater, following the acquisition of Stillwater Mining Company by Sibanye Gold Limited in May 2017. Production began in 1986 at the Stillwater mine and in 2002 at the East Boulder mine. Both are PGM mines with the majority of production being palladium. Fr anco-Nevada has a 5% NSR royalty on all commercially recoverable metals produced from 813 of the 995 claims that cover the Stillwater complex. The amount of the royalty is reduced by permissible “onward processing” deductions, which have averaged between 10-12% of revenue over the last several years. Based on Fr anco-Nevada’s estimates, the NSR royalty currently covers 97% of the Stillwater Mineral Reserves and 100% of the East Boulder Mineral Reserves. In recent years, the percentage of Stillwater complex production subject to Franco-Nevada’s royalty has increased well above 90% as mining moves away from the shaft area towards royalty ground. PGM pr oduction for 2021 yielded 570,400 ounces versus 603,067 ounces in 2020, which included production from Stillwater East (the Blitz project), as discussed below. Production in the second half of 2021 was affected by ongoing operational restrictions imposed after a fatal incident at the Stillwater West mine in June 2021. Factoring in these operational constraints at the Stillwater complex, 2022 PGM production is forecast to be between 550,000 to 580,000 ounces. Stillwater East (the Blitz pr oject), located east of the Stillwater mine (Stillwater West) and covered by the NSR, commenced production in October 2017. Stillwater East continues to ramp up despite various operational challenges and COVID-19 related disruptions. Production forecasts from Stillwater East are currently exceeding plan and increasing output is expected to partially offset the negative production impact at Stillwater West. When production is at steady state the run rate is expected to be approximately 300,000 ounces per annum starting in 2024. Sibanye-Stillwater estimates that the Stillwater mine has a mine life of 40 years and the East Boulder mine has a mine life of 34 years. Significant Mineral Resources have the potential to increase mine life even further in the future. Only PGM producer in the U.S. Mineral Reserves support a long mine life Significant Mineral Resource has the potential to increase mine life even further Stillwater PGM Montana, United States Operator: Sibanye-Stillwater Royalty: NSR: 5% Precious Metals Stillwater, Montana

Franco-Nevada 2022 Asset Handbook - Page 53

2022 ASSET HANDBOOK 54 FNV TSX NYSE PRECIOUS METALS United States Carlin Trend 2021 2020 2019 P&P Reserves (koz Au) 1, 2 17,886 19,512 21,138 M&I Resource (koz Au) 1, 2 30,894 30,894 29,268 Inferred Resource (koz Au) 1, 2 7,480 2,602 1,951 P&P Royalty Ounces (000s) 3 188 205 202 M&I Royalty Ounces (000s) 1, 3 324 324 279 Inf Royalty Ounces (000s) 3 79 27 19 Goldstrike Au 2021 2020 2019 Total NSR Revenue to FNV ($ million) $ 3.9 $ 5.2 $ 4.2 Total NPI Revenue to FNV ($ million) $ 21.4 $ 15.5 $ 17.0 Total Revenue to FNV ($ million) $ 25.3 $ 20.7 $ 21.2 P&P Reserves (koz Au) 1 n/a n/a n/a M&I Resource (koz Au) 1, 2 n/a n/a n/a Inferred Resource (koz Au) 1 n/a n/a n/a P&P Royalty Ounces (000s) 3 n/a n/a n/a M&I Royalty Ounces (000s) 2, 3 n/a n/a n/a Inf Royalty Ounces (000s) 3 n/a n/a n/a 1 Please r efer to the tables on pages 128-136 for a breakout of grade and tonnages by Mineral Resource category for Carlin Trend; all M&I categories are inclusive of Mineral Reserves 2 Under the Ne vada Gold Mines joint venture, Barrick now reports Goldstrike, Gold Quarry and South Arturo as part of the Carlin operation category. Mineral Reserves and Mineral Resources include Goldstrike, Gold Quarry and South Arturo as well as other properties where Franco-Nevada has no royalties or stream interests 3 For Ro yalty Ounce calculation, Franco-Nevada estimates 35% of the Carlin Trend Mineral Reserves and Mineral Resources are subject to our royalty interests on Goldstrike, Gold Quarry and South Arturo and estimates an average rate of 3.0% is applicable 1 Please r efer to the table above for the Carlin Trend Mineral Reserves and Mineral Resources which include Goldstrike 2 All M&I categories ar e inclusive of Mineral Reserves 3 Please r efer to the table above for the Carlin Trend Royalty Ounce calculation which includes Goldstrike Goldstrike Au Nevada, United States Operator: Nevada Gold Mines LLC Royalty: NSR: 2-4% / NPI: 2.4-6% Precious Metals Franco-Nevada holds royalties covering the majority of the Nevada Gold Mines LLC (“Nevada Gold Mines”) Goldstrike complex operated by Barrick Gold Corporation (“Barrick”). The Goldstrike complex is located on the Carlin Trend, about 60 km northwest of the town of Elko, Nevada and includes the open-pit Betze-Post mine, as well as the underground operations of Meikle and Rodeo immediately to the north. Mining activity commenced on the property in 1976 and, since 1987, has been operated by Barrick. Fr anco-Nevada holds both NSR (2-4%) and NPI (2.4-6%) royalties at Goldstrike covering over 50% of the reported Mineral Reserves. This estimate includes low-grade ore that has been stockpiled. The royalties vary depending on the claim blocks, operating costs and capital investments, as shown in the schematic. As a result, royalty payments can vary substantially on a quarterly basis. Franco-Nevada anticipates royalty production in 2022 to be similar to that of 2021. On July 1, 2019, Barrick (61.5%) and Ne wmont Corporation (“Newmont”) (38.5%) combined their significant assets across Nevada to create Nevada Gold Mines as a joint venture. Under this joint venture, Goldstrike is reported as part of the Carlin operation category by Barrick. Barrick announced 2021 production of 923,000 gold ounces from its 61.5% share of Carlin which includes Goldstrike, Gold Quarry and South Arturo as well as other properties where Franco-Nevada has no royalties interests. Nevada Gold Mines reported that repairs for a mechanical mill failure at the Goldstrike roaster, which affected Q3 2021 production, were completed by the end of September. Mitigating actions taken in Q3 2021 also included the prioritization of ore to optimize roaster throughput and recoveries, which positively impacted Q4 2021 production. Barrick has r eported 2022 production guidance of 950,000 to 1,030,000 gold ounces from its 61.5% share of Carlin. Exploration projects being contemplated to provide upside in the future include a Goldstrike underground expansion and a potential Goldstrike 6NW open-pit layback. World class gold operation Focus asset for Barrick with substantial invested capital Profit royalties provide more leverage to gold prices N Goldstrike Mine Goldstrike Open Pit Mine Goldstrike Underground Mine Meikle/Rodeo SJ 6% NPI SPLC Lease 6% NPI Post 5% NPI 4% NSR Goldstrike 5% NPI 4% NSR Bazza 2% NSR Bazza Strip 2% NSR 2.4% NPI Royal 3% NSR Extension 5% NPI 4% NSR Gold Bug 5% NPI 4% NSR Corbett 2% NSR Pandora 2% NSR Weimer 4% NSR Rodeo Creek 4% NSR Above 4600’ 1 Mile Goldstrike Pacific Ocean Oregon Idaho Utah Nevada California Arizona MEXICO Goldstrike, Nevada

FRANCO-NEVADA CORPORATION 55 THE GOLD INVESTMENT THAT WORKS PRECIOUS METALS DIVERSIFIED ASSETS RESERVES AND RESOURCES ADDITIONAL INFORMATION United States N Gold Quarry Mine 7.29% NSR Gold Quarry Open Pit 0.5 Mile Potential Greater Gold Quarry Expansion West Wall Layback 7.29% NSR Gold Quarry Pacific Ocean Oregon Idaho Utah Nevada California Arizona MEXICO 2021 2020 2019 Revenue to Franco-Nevada ($ million) $ 7.5 $ 10.7 $ 15.6 P&P Reserves (koz Au) 1 n/a n/a n/a M&I Resource (koz Au) 1, 2 n/a n/a n/a Inferred Resource (koz Au) 1 n/a n/a n/a P&P Royalty Ounces (000s) 3 n/a n/a n/a M&I Royalty Ounces (000s) 2, 3 n/a n/a n/a Inf Royalty Ounces (000s) 3 n/a n/a n/a 1 Please r efer to the table on page 54 for the Carlin Trend Mineral Reserves and Mineral Resources which include Gold Quarry. In 2018 Newmont did not disclose Mineral Reserves and Mineral Resources for individual assets in Nevada 2 All M&I categories ar e inclusive of Mineral Reserves 3 Please r efer to the table on page 54 for the Carlin Trend Royalty Ounce calculation which includes Gold Quarry Gold Quarry Au Nevada, United States Operator: Nevada Gold Mines LLC Royalty: NSR: 7.29% Precious Metals The Gold Quarry operation is part of the Nevada Gold Mines Carlin operations in north-central Nevada. It is a large open-pit mine that has been in production since 1985 supplying ore as part of an integrated mining and processing complex. In 2019, Barrick (61.5%) and Newmont (38.5%) combined their significant assets across Nevada to create Nevada Gold Mines as a joint venture. Under this joint venture, Barrick reports Gold Quarry under its Carlin operations category and Newmont reports Gold Quarry under its Nevada Gold Mines category. Fr anco-Nevada’s royalty interest covers only a portion of the Gold Quarry property, as shown in the schematic. The Gold Quarry royalty is a 7.29% NSR based on production with a minimum payment obligation. The different annual minimum royalty payments are tied to Mineral Reserves and stockpiles attributed to the Gold Quarry royalty property. Through optimized pit shells, Gold Quarry was able to deliver year-over-year total open-pit resource growth at consistent Annual minimum payment obligations Benefits from additional milling and roasting infrastructure following the formation of Nevada Gold Mines Registered on private lands grades. Notably, mineral resource estimates were further optimized based on process routing options only made possible with the multiple processing facilities available following the formation of Nevada Gold Mines. A key driver for growth at the asset is the expansion of the Gold Quarry roaster. In 2021, Franco-Nevada’s prepaid ounces delivered by Gold Quarry exceeded the Gold Quarry known Mineral Reserves resulting in lower expected future minimum payments. Going forward, Franco-Nevada expects its royalty from Gold Quarry to be 1,350 GEOs per annum based on the minimum payment obligation. Gold Quarry, Nevada

Franco-Nevada 2022 Asset Handbook - Page 55

2022 ASSET HANDBOOK 56 FNV TSX NYSE United States PRECIOUS METALS 2021 2020 2019 Revenue to Franco-Nevada ($ million) $ 8.5 $ 7.1 $ 8.7 P&P Reserves (koz Au) 1 3,410 3,887 3,887 M&I Resource (koz Au) 1 5,004 4,942 4,942 Inferred Resource (koz Au) 1 252 182 182 P&P Royalty Ounces (000s) 2 106 122 122 M&I Royalty Ounces (000s) 1, 2 154 155 155 Inf Royalty Ounces (000s) 2 8 6 6 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 97% of the Mineral Reserves (98% in 2020, 98% in 2019), 96% of the M&I Mineral Resources (98% in 2020, 98% in 2019) and 96% of the Inferred Mineral Resources (98% in 2020, 98% in 2019) are subject to our royalty interest and estimates a rate of 3.2% is applicable Marigold Au Nevada, United States Operator: SSR Mining Inc. Royalty: NSR: 1.75-5% / GR: 0.5-4% Precious Metals The Marigold mine is located approximately 64 km southeast of Winnemucca, Nevada on the Battle Mountain-Eureka Trend and is operated by SSR Mining Inc. (“SSR Mining”). The mine has been in continuous production since 1989 and is a large run-of-mine heap leach operation with several open pits. Franco-Nevada has various royalties on the operation (1.75-5% NSR and 0.5-4% GR), as shown in the schematic, together covering a significant portion of the current Mineral Reserve base. Franco-Nevada’s original royalties were acquired in connection with its IPO and, in December 2009, additional royalties covering alternate sections were added. The mine pr oduced 235,282 ounces of gold in 2021 versus 234,000 ounces in 2020. For 2022, SSR Mining expects production to be between 215,000 to 245,000 ounces, with production of between 245,000 to 275,000 ounces in 2023. The current life of mine plan predicts an 11-year mine life, with life of mine production of 2.5 million ounces of gold and average annual production of 215,000 ounces over the next five years. Royalty payments to Franco-Nevada will fluctuate depending on the royalty ground being mined. SSR Mining’ s strategy to advance brownfields targets proximal to existing infrastructure continues to yield encouraging results and the company plans to increase its exploration drilling target in 2022 by approximately 20%. Currently, the focus will be on higher-grade oxides, resource expansion and conversion at New Millennium, Mackay, Valmy, Trenton Canyon and Buffalo Valley, the majority of which are not on Franco-Nevada royalty ground. The Marigold mine has produced in excess of four million ounces Continued resource expansion and encouraging exploration results N Valmy 5 North Deposit 8 North Deposit Terr y Pit Target Pit E. Basalt and Battle Cry Targets Antler and Basalt Pits (Backfilled) Marigold Mine Terr y Zone North 1.75% NSR 1.75% NSR 1.75% NSR 1.75% NSR 5% NSR 5% NSR 5% NSR 5% NSR 5% NSR 5% NSR 5% NSR 5% NSR 5% NSR 5% NSR 5% NSR 5% NSR 3% NSR* 3% NSR* 3% NSR* 2.5%-4% GR* 2.5%-4% GR* 2.5%-4% GR* 2.5%-4% GR* 2.5%- 4% GR* 5% NSR 1.75% NSR *December 2009 Acquisition Schematic Representation Only 1 Mile 0.5%-1.5% GR* Mackay Pit Valmy and Mud Pits Hideout 8D 8SX Pits Exploration Targets N Valmy 5 North Deposit 8 North Deposit Terr y Pit Target Pit E. Basalt and Battle Cry Targets Antler and Basalt Pits (Backfilled) Marigold Mine Terr y Zone North 1.75% NSR 1.75% NSR 1.75% NSR 1.75% NSR 5% NSR 5% NSR 5% NSR 5% NSR 5% NSR 5% NSR 5% NSR 5% NSR 5% NSR 5% NSR 5% NSR 5% NSR 3% NSR* 3% NSR* 3% NSR* 2.5%-4% GR* 2.5%-4% GR* 2.5%-4% GR* 2.5%-4% GR* 2.5%- 4% GR* 5% NSR 1.75% NSR *December 2009 Acquisition Schematic Representation Only 1 Mile 0.5%-1.5% GR* Mackay Pit Valmy and Mud Pits Hideout 8D 8SX Pits Exploration Targets Red Dot Red Dot Marigold Pacific Ocean Oregon Idaho Utah Nevada California Arizona MEXICO Marigold, Nevada

FRANCO-NEVADA CORPORATION 57 THE GOLD INVESTMENT THAT WORKS PRECIOUS METALS DIVERSIFIED ASSETS RESERVES AND RESOURCES ADDITIONAL INFORMATION United States Marigold, Nevada Bald Mountain, Nevada Bald Mountain, Nevada

Franco-Nevada 2022 Asset Handbook - Page 57

2022 ASSET HANDBOOK 58 FNV TSX NYSE Bald Mountain Mine North Block South Block Excluded from Royalty * Subject to possible reduction by third-party royalty Galaxy Poker Flats Bida Saga Yankee Targets Lux/Vantage Targets Top Sage Flats Belmont Horseshoe 4% NSR 4% NSR 4% NSR 4% NSR 4% NSR* 4% NSR* 4% NSR* 4% NSR* 4% NSR* 4% NSR* 4% NSR* 0.875 to 1.75% NSR 2.418% NSR Royale 1%-5% GR Redbird 5 1 LJ Ridge Banghart South Ridge Rat North Duke South Duke 2/3 1%-5% GR Winrock N Km 0 2 North Block South Block Bald Mountain Mine North Block South Block Excluded from Royalty * Subject to possible reduction by third-party royalty Galaxy Poker Flats Bida Saga Yankee Targets Lux/Vantage Targets Top Sage Flats Belmont Horseshoe 4% NSR 4% NSR 4% NSR 4% NSR 4% NSR* 4% NSR* 4% NSR* 4% NSR* 4% NSR* 4% NSR* 4% NSR* 0.875 to 1.75% NSR 2.418% NSR Royale 1%-5% GR Redbird 5 1 LJ Ridge Banghart South Ridge Rat North Duke South Duke 2/3 1%-5% GR Winrock N Km 0 2 North Block South Block Bald Mountain Pacific Ocean Oregon Idaho Utah Nevada California Arizona MEXICO United States PRECIOUS METALS 2021 2020 2019 Revenue to Franco-Nevada ($ million) $ 11.2 $ 11.2 $ 8.9 P&P Reserves (koz Au) 1 798 1,143 1,277 M&I Resource (koz Au) 1 4,390 4,735 5,139 Inferred Resource (koz Au) 1 669 695 808 P&P Royalty Ounces (000s) 2 16 22 25 M&I Royalty Ounces (000s) 1, 2 139 143 161 Inf Royalty Ounces (000s) 2 23 23 29 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 95% of Mineral Reserves (93% in 2020, 92% in 2019) and 95% of Mineral Resources (exclusive of Mineral Reserves) (93% in 2020, 98% in 2019) are subject to our royalty interest and estimates an average rate of 2.10% is applicable for Mineral Reserves and 3.60% for Mineral Resources (exclusive of Mineral Reserves) Bald Mountain Au Nevada, United States Operator: Kinross Gold Corporation Royalty: NSR/GR: 0.875-5% Precious Metals The Bald Mountain mine lies within the Southern Ruby Mountains of northeastern Nevada along the southern extension of the prolific Carlin Trend, approximately 110 km southeast of Elko. Ore is sourced from multiple open pits over an estimated 600 km 2 property with processing at multiple conventional heap leaching facilities. Bald Mountain is the largest mine site by area in the U.S. It stretches 40 km north to south and 15 km east to west and is divided in three zones: North Zone, South Zone and JV Zone. Fr anco-Nevada’s Bald Mountain royalties cover a significant portion of the Bald Mountain property. Royalty rates range from 0.875%-5% NSR/GR. A detailed map of the royalties is shown in the schematic. At the end of 2015, Kinross Gold Corporation (“Kinross”) purchased from Barrick 100% of the North and South Zones while forming a 50/50 exploration joint venture partnership with Barrick on the JV Zone in between the North and South Zones. During 2018, Kinross acquired the remaining 50% portion of the JV area that it did not already own. Bald Mountain pr oduced 204,890 ounces in 2021, a slight increase from the 191,282 ounces produced in 2020, mainly due to timing of ounces recovered from the heap leach pads. The lar ge scale of the Bald Mountain land package offers significant exploration upside, with multiple known mineralized bodies. In 2021, approximately 18,500 meters of drilling was completed with 15 drill targets interpreted. The North Point, Duke, Zed-Williams, Wino and Top UG targets were advanced to the next phase of drill testing. 2022 exploration projects will concentrate on testing targets with significant near-surface potential (Zed-Williams, Wino, North Point, Dueces, South and West Yankee, and Duke), along with continuing exploration on the high-grade Top underground resource prospect. Large land package and significant exploration upside Potential to add significant mine life Bald Mountain, Nevada

FRANCO-NEVADA CORPORATION 59 THE GOLD INVESTMENT THAT WORKS 2021 2020 2019 Revenue to Franco-Nevada ($ million) $ 5.6 $ 6.2 $ 1.8 P&P Reserves (koz Au) 1 n/a n/a n/a M&I Resource (koz Au) 1, 2 n/a n/a n/a Inferred Resource (koz Au) 1 n/a n/a n/a P&P Royalty Ounces (000s) 3 n/a n/a n/a M&I Royalty Ounces (000s) 2, 3 n/a n/a n/a Inf Royalty Ounces (000s) 3 n/a n/a n/a 1 Please r efer to the table on page 54 for the Carlin Trend Mineral Reserves and Mineral Resources which include South Arturo 2 All M&I categories ar e inclusive of Mineral Reserves 3 Please r efer to the table on page 54 for the Carlin Trend Royalty Ounce calculation which includes South Arturo South Arturo Au Nevada, United States Operator: Nevada Gold Mines LLC Royalty: GR: 4-9% with AMR Precious Metals South Arturo consists of a series of sediment hosted Carlin-style gold deposits adjacent to and including the former Dee gold mine, 60 km northwest of Elko, Nevada. Nevada Gold Mines acquired the 40% interest in South Arturo that it did not already own from i-80 Gold Corp. (“i-80 Gold”) effective June 1, 2021. The transaction provided Nevada Gold Mines with 100% of the project and all of the longer-term upside at the South Arturo pit and the El Niño underground, as well as flexibility to pursue other potential operational synergies at Goldstrike. Fr anco-Nevada holds a sliding scale gross royalty (4-9%) on production from South Arturo. The royalty rate depends on the type of ore (oxide versus non-oxide), as well as the grade (for oxide only). Franco-Nevada estimates a 4% royalty rate for the oxide mineralization and a 6% royalty rate for the non-oxide. The royalty agreement includes an annual minimum payment which is credited against any future production royalty payments. Commer cial production at South Arturo’s El Niño mine was declared at the end of Q3 2019. The mine is located in close proximity to Nevada Gold Mines’ Goldstrike operations where the ore is processed at the refractory facilities. In July 2019, Barrick (61.5%) and Newmont (38.5%) combined their significant assets across Nevada to create Nevada Gold Mines as a joint venture. Under this joint venture, South Arturo is reported as part of the Carlin operation category by Barrick. South Artur o delivered year-over-year total open-pit Mineral Resource growth at consistent grades from 2020 to 2021. Production from El Niño and the Phase 1 pit began in 2019 and mining of the Phase 1 pit was suspended in December 2019 awaiting roasting capacity at Goldstrike. In January 2021, Premier Gold Mines Limited (“Premier”), the predecessor to i-80 Gold, released a positive prefeasibility study which included the underground El Niño mine and the proposed Phase 1 open pit. Based on the prefeasibility study, El Niño had a two-year mine life with 58,750 recoverable ounces and Phase 1 had an 18-year mine life with 664,000 recoverable ounces with production targeted to begin in 2025. In May 2021, i-80 Gold reported that the development of a ramp at El Niño was expected to be completed in Q1 2023 to access deeper mineralization. In November 2021, Nevada Gold Mines reported the successful targeting of a newly recognized ore controlling structure, the Otto fault. Intercepts expanded the orebody footprint to the northwest and additional follow-up drilling is planned to fully delineate the extension. Consolidated ownership Year-over-year resource growth Exploration success around newly recognized controlling structure at El Niño PRECIOUS METALS DIVERSIFIED ASSETS RESERVES AND RESOURCES ADDITIONAL INFORMATION Dee 4-9% GR South Arturo Excluded from Royalty N 1 Mile Phase 1 Pit Phase 3 Pit Phase 2: Open pit completed El Nino U/G: Currently developing East Dee Target South Hinge Target Dee 4-9% GR South Arturo Excluded from Royalty N 1 Mile Phase 1 Pit Phase 3 Pit Phase 2: Open pit completed El Nino U/G: Currently developing East Dee Target South Hinge Target South Arturo Pacific Ocean Oregon Idaho Utah Nevada California Arizona MEXICO United States South Arturo, Nevada

Franco-Nevada 2022 Asset Handbook - Page 59

2022 ASSET HANDBOOK 60 FNV TSX NYSE United States PRECIOUS METALS 2021 2020 2019 Revenue to Franco-Nevada ($ million) $ 4.4 $ 4.2 $ 2.8 P&P Reserves (koz Au) 1 471 658 1,004 M&I Resource (koz Au) 1 1,924 1,571 2,902 Inferred Resource (koz Au) 1 928 752 184 P&P Royalty Ounces (000s) 2 8 11 16 M&I Royalty Ounces (000s) 1, 2 31 25 46 Inf Royalty Ounces (000s) 2 15 12 3 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 100% of the Mineral Reserves and Mineral Resources are subject to our royalty interest and estimates a rate of 1.60% is applicable Mesquite Au California, United States Operator: Equinox Gold Corp. Royalty: NSR: 0.5-2% Precious Metals Mesquite is a gold operation located in south-east California, approximately 70 km northwest of Yuma, Arizona and 230 km east of San Diego, California. The mine is an open-pit, run-of-mine, heap leach operation. Franco-Nevada holds royalties on the entire Mesquite mine property that range from a 0.5-2% NSR, depending on the claim block, as shown on the schematic. Mesquite pr oduced 137,467 ounces of gold in 2021, a modest decrease from 2020 ounces produced of 141,270. For 2022, Equinox Gold anticipates production of 120,000 to 130,000 ounces of gold, with approximately 60% of production coming in the second half of the year. Equino x Gold transitioned from waste stripping to mining oxide ore from the Brownie deposit during Q3 2021. In 2022, Equinox Gold will be focused on processing almost entirely Brownie pit ore and a stripping campaign to open up the new VE2 ore body, which will be the major source of ore in Q4 2022. Equinox Gold plans to invest in a leach pad expansion and exploration projects to support a longer life of mine. In September 2021, Equinox Gold announced an updated reserve and resource estimate for Mesquite with measured and indicated resources, exclusive of reserves, increasing by 65%. Resource growth occurred primarily at the Brownie, VE2 and Rainbow deposits. Commenced stripping campaign to open up the new VE2 ore body Ongoing resource expansion and planned leach pad extension N Mesquite Mine Big Chief Rainbow Vista $500 Gold Pit 2% NSR 0.5% NSR Brownie 1% NSR 1 Mile Mesquite Pacific Ocean Oregon Idaho Utah Nevada California Arizona MEXICO Mesquite, California

FRANCO-NEVADA CORPORATION 61 THE GOLD INVESTMENT THAT WORKS Oro Belle Mined Pit Jumbo Mined Pit JSLA Mined Pit South Waste Dump West Waste Dump Heap Leach Pad Castle Mountain Royalty Area 2.65% NSR Royalty lands Plus 10 Mile Area of Interest 1,000 Metres 0 2,000 Castle Mountain Mine Las Vegas Los Angeles San Diego MEXICO CALIFORNIA NEVADA Castle Mountain Mine NEVADA CALIFORNIA 2021 2020 2019 Revenue to Franco-Nevada ($ million) $ 1.5 $ – $ – P&P Reserves (koz Au) 1 4,168 3,563 3,563 M&I Resource (koz Au) 1 5,919 4,333 4,333 Inferred Resource (koz Au) 1 1,608 2,210 2,210 P&P Royalty Ounces (000s) 2 110 94 94 M&I Royalty Ounces (000s) 1, 2 157 115 115 Inf Royalty Ounces (000s) 2 43 59 59 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 100% of the Mineral Reserves and Mineral Resources are subject to our royalty interest and estimates a rate of 2.65% is applicable Castle Mountain Au California, United States Operator: Equinox Gold Corp. Royalty: NSR: 2.65% Precious Metals The Castle Mountain mining property is located in California, close to the Nevada border and is in the historic Hart Mining District, 120 km south of Las Vegas, Nevada. The mine is operated by Equinox Gold, which also owns the Mesquite mine described on page 60. NewCastle Gold Ltd. (“NewCastle”), a predecessor company to Equinox Gold, was the previous owner of the Castle Mountain property. The Castle Mountain land holdings total greater than 40 km 2 of patented and unpatented claims. The mine was previously operated by Viceroy Gold and MK Resources and produced over 1.2 million ounces of gold. Fr anco-Nevada currently holds a 2.65% NSR covering all of the existing Castle Mountain mine and extending 10 miles from the boundary of the mine. Rede velopment of Castle Mountain is planned in two phases. Construction and commissioning of the Phase 1 mine was completed and commercial production was achieved in November 2020. During 2021, Castle Mountain produced 25,270 gold ounces. For 2022, Equinox Gold anticipates production of 25,000 to 35,000 ounces of gold. Phase 1 operations are expected to produce on average 40,000 ounces of gold annually for the remainder of the project. A feasibility study for the Phase 2 expansion was released in March 2021. The Phase 2 project will expand ROM heap leaching and incorporate milling of higher- grade ore, increasing production to an average of 218,000 ounces per year and extending the total mine life to 21 years. Life-of-mine production including Phase 1 operations and end of mine life rinsing is estimated at 3.4 million ounces of gold. Equinox Gold expects to submit Phase 2 permit applications in H1 2022. Phase 1 production ongoing and planned to reach 40,000 ounces per year Permitting Phase 2 expansion to increase production to >200,000 ounces per year Franco-Nevada’s royalty covers entire project area with a 10-mile area of interest United States PRECIOUS METALS DIVERSIFIED ASSETS RESERVES AND RESOURCES ADDITIONAL INFORMATION Castle Mountain, California

Franco-Nevada 2022 Asset Handbook - Page 61

2022 ASSET HANDBOOK 62 FNV TSX NYSE United States PRECIOUS METALS 2.5% NSR royalty on two properties Exploration focused on the two miles of strike length along the East Graben Corridor 2021 2020 2019 Revenue to Franco-Nevada ($ million) $ 1.0 $ 1.5 $ 2.3 P&P Reserves (koz Au) 1 – 31 54 M&I Resource (koz Au) 1 94 125 524 Inferred Resource (koz Au) 1 3,185 2,994 2,639 P&P Royalty Ounces (000s) 2, 3 – 1 1 M&I Royalty Ounces (000s) 1, 2, 3 3 3 14 Inf Royalty Ounces (000s) 2, 3 84 79 68 Fire Creek/Midas Au & Ag Nevada, United States Operator: Hecla Mining Company Royalty: NSR: 2.5% Precious Metals The Fire Creek and Midas mines are located in north central Nevada, at the cross-section of the Northern Nevada Rift and the Battle Mountain Trend. Fire Creek is a high-grade epithermal gold deposit consisting of a combination of private fee land and U.S. Bureau of Land Management (“BLM”) land for a total area of approximately 45 km 2 plus an area of interest in adjacent townships along strike with mineralization. Midas was discovered and constructed by Franco-Nevada’s predecessor company prior to its combination with Newmont. The property position extends over private fee land and BLM land for a total area of 137 km 2 with an area of interest surrounding the property. The Fire Creek and Midas mines, along with the Hollister mine (discussed on page 63), are operated by Hecla Mining Company (“Hecla”) after Hecla acquired Klondex Mines Ltd. in 2018. After completion of a prepaid gold purchase agreement in 2018, Franco-Nevada now holds a 2.5% NSR royalty on both properties. Pr oduction at the Midas mine was suspended in 2019 and at the Midas mill and Fire Creek mine in mid-2021. While both mines and the mill are currently on care and maintenance, in 2021 stockpiled non- refractory ore was processed at the Midas mill. Third party processing of refractory ore was also conducted in a roaster and autoclave facility off site. In Q4 2021, Hecla announced e xploration drilling at Midas had defined and expanded mineralization on the Sinter Structure and intersected high-grade gold and silver mineralization on two new structures, the Racer and Hanging Wall (HW1), both open along the East Graben Corridor. In 2022, Hecla's Nevada exploration is anticipated to be 30% of its total planned expenditures, with ongoing drilling programs at both Midas and Hollister. Exploration work at Midas will focus on the two miles of strike length along the East Graben Corridor. N Miles 0 1 Fire Creek Royalty Area 2.5% NSR Fee Lands Unpatented Mining Claims Fire Creek deposits Outline of Area of Interest (AOI) Plan of Operations N Miles 0 1 Midas Town Midas Royalty Area 2.5% NSR Royalty covered areas Plus Area of Interest (AOI) (not shown) Fire Creek/Midas Pacific Ocean Oregon Idaho Utah Nevada California Arizona MEXICO 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 100% of Mineral Reserves & Mineral Resources at Fire Creek and Midas are subject to our royalty interest and estimates an average rate of 2.5% is applicable 3 Silver has been converted to Ro yalty Ounces assuming $1,800/oz gold and $23.00/oz silver ($1,750/oz gold and $25.00/oz silver in 2020, $1,400/oz gold and $18.00/oz silver in 2019) Fire Creek/Midas, Nevada

FRANCO-NEVADA CORPORATION 63 THE GOLD INVESTMENT THAT WORKS N Hollister Project Hollister/Ivanhoe 5% NSR Hollister Deposit Hatter Graben Discovery USX Pits Hillcrest Finley River Block 3% NSR 1 Mile Hollister Pacific Ocean Oregon Idaho Utah Nevada California Arizona MEXICO 2021 2020 2019 Revenue to Franco-Nevada ($ million) $ – $ – $ 0.5 P&P Reserves (koz Au) 1 – – – M&I Resource (koz Au) 1 51 51 164 Inferred Resource (koz Au) 1 273 273 185 P&P Royalty Ounces (000s) 2 – – – M&I Royalty Ounces (000s) 1, 2 2 2 5 Inf Royalty Ounces (000s) 2 8 8 6 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 100% of Mineral Reserves & Mineral Resources are subject to our royalty interest and estimates an average rate of 3.0% is applicable Hollister Au Nevada, United States Operator: Hecla Mining Company Royalty: NSR: 3-5% Precious Metals Hollister is a historic underground mine with past production of approximately 425,000 ounces. The mine is located at the northern end of the Carlin Trend in the Ivanhoe Mining District, Elko County, Nevada, approximately 121 km east-northeast of Winnemucca, Nevada. Franco-Nevada holds a 3-5% NSR royalty on approximately 28 km 2 of the Hollister project, as well as a sliding scale NSR, which is subject to gold price and production thresholds and is capped at $3.5 million. In 2018 Hecla acquir ed Klondex, the previous operator, which included the Hollister mine, as well as the Fire Creek/Midas assets highlighted on page 62. In June 2019, Hecla announced that the Hollister mine would be placed on care and maintenance and it remained suspended through 2021. Exploration at Hollister has been focused on the definition of new exploration targets and Hecla remains committed to the exploration and definition of the Hatter Graben area. The Hatter Graben is expected to provide the future growth at Hollister and is one of the key reasons Hecla acquired Klondex. Underground exploration drilling at Hollister commenced in Q4 2021 and drilling from a new decline confirmed multiple new vein zones at the Hatter Graben. Hecla plans to advance the Hatter Graben decline in 2022 and completed 2,400 feet of development, including the necessary ventilation and dewatering infrastructure. Additional footage is planned for the decline through the first half of 2022. United States PRECIOUS METALS DIVERSIFIED ASSETS RESERVES AND RESOURCES ADDITIONAL INFORMATION Exploration work on the Hatter Graben area continues Exploration decline currently being advanced Hollister, Nevada

Franco-Nevada 2022 Asset Handbook - Page 63

2022 ASSET HANDBOOK 64 FNV TSX NYSE Stibnite Gold Royalty 1.7% NSR N Mile 0 1 Mineral Resources Prospects Patented Claims under option MGll Mineral Rights Salt Yellow Pine Deposit West End Deposit Hangar Flats Deposit Historic Tailings Blow-out Mule Rabbit Scout Garnet Ridgetop Cinnamid Saddle Fern Upper Midnight Idaho Utah Nevada Boise Cascade McCall Coeur d'Alene Stibnite Gold Project United States PRECIOUS METALS 2021 2020 2019 Revenue to Franco-Nevada ($ million) $ – $ – $ – P&P Reserves (koz Au) 1 4,819 4,819 – M&I Resource (koz Au) 1 6,034 6,034 – Inferred Resource (koz Au) 1 1,246 1,246 – P&P Royalty Ounces (000s) 2 82 82 – M&I Royalty Ounces (000s) 1, 2 103 103 – Inf Royalty Ounces (000s) 2 21 21 – 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 100% of the Mineral Reserves and Mineral Resources are subject to our royalty interest and estimates a rate of 1.70% is applicable Stibnite Gold Au Idaho, United States Operator: Perpetua Resources Corp. Royalty: NSR: 1.7% Precious Metals The Stibnite project is located in a historic mining town of the same name in Idaho, about 153 km northeast of Boise and is potentially one of the highest grade open-pit deposits in the U.S. The project is being advanced by Perpetua Resources Corp. (“Perpetua Resources”), formerly known as Midas Gold Corp., who have consolidated 107 km 2 of unpatented and patented claims. Franco-Nevada holds a 1.7% NSR on future gold production. In December 2020, Perpetua Resour ces announced the results of a feasibility study on the Stibnite project. The project is expected to have a 15-year mine life with average annual gold production of 301,000 ounces per year. The first four years demonstrate an average annual gold production of 466,000 ounces per year. The project consists of mining the Yellow Pine, Hangar Flats and West End deposits by conventional open pit. Based on the 2020 feasibility study, the Stibnite project would be the fourth largest US gold operation by grade and produce approximately 4-5 million ounces of gold based on total reserves and resources of approximately 4.8 million and 6 million ounces of gold, respectively. The United States For est Service (“USFS”) released a Draft Environmental Impact Statement (“Draft EIS”) for public review in August 2020. Perpetua and the USFS are advancing a modified proposed action that includes stakeholder feedback on the Draft EIS, developed to decrease the project footprint and improve environmental conditions. The changes incorporate the elimination of waste rock storage areas, overall reductions in mined material, two access routes, additional pit backfilling and restoration, and improvements to water quality and water temperature. The project schedule has been revised and assuming a final Record of Decision is released in the first half of 2023, commercial operations are expected in 2027. One of the largest and highest grade undeveloped open-pit deposits in the U.S. The Stibnite project would be the only domestic source of antimony mined in the U.S. Perpetua Resour ces plans for restoration of the site to include progressive and concurrent remediation, beginning at the start of construction and continuing through operations and project closure. Extensive reclamation and restoration of historical mining impacts are planned, with permanent fish access having been restored for the first time in 80 years. Stibnite Gold, Idaho

FRANCO-NEVADA CORPORATION 65 THE GOLD INVESTMENT THAT WORKS United States PRECIOUS METALS DIVERSIFIED ASSETS RESERVES AND RESOURCES ADDITIONAL INFORMATION Other United States Assets United States Precious Metals Please refer to the tables on pages 128-136 for a breakout of grade and tonnages by Mineral Resource category. The Granite Creek (Pinson) project is located near Winnemucca, Nevada, at the intersection of the Getchell Gold Belt and the Battle Mountain-Eureka Trend. Franco-Nevada holds a 1-2% NSR on approximately 20 sections within the Getchell trend. This royalty includes both a section and a smaller royalty on another half section associated within Granite Creek’s operating area, formally known as Pinson. Granite Creek (Pinson) is south of Nevada Gold Mines’ Turquoise Ridge mine and 13 km from its Twin Creeks mine complex. The historic Pinson mine produced 985,000 ounces of gold from 1980 through 1999 by open-pit mining. Pinson was placed on care and maintenance in 2015. In August 2020, Pr emier Gold Mines USA, Inc. acquired the outstanding interests of Osgood Mining Company LLC (“Osgood”) from affiliates of Waterton Global Resource. In December 2020, Equinox Gold and Premier announced that they had entered into a definitive agreement whereby Equinox Gold would acquire all the outstanding shares of Premier. Concurrently, Premier spun-out its US-focused gold production and development assets into i-80 Gold, which included the Granite Creek project (previously known as the Pinson project). The transaction closed in April 2021. In February 2022, i-80 Gold announced that 2021 drilling was successful in delineating high-grade mineralization in multiple areas surrounding the existing mine workings. Test mining is underway underground, and i-80 Gold is targeting production ramp-up in 2022. Mined material will be processed at Nevada Gold Mines’ nearby Twin Creeks facility until i-80 Gold’s Lone Tree facility is operational. Franco-Nevada has not included Granite Creek (Pinson) in Royalty Ounce estimates Granite Creek (Pinson) Au Pinson, United States Operator: i-80 Gold Corp. Royalty: NSR: 1-2% Precious Metals Sterling is a historic gold operation located 185 km northwest of Las Vegas, Nevada near Beatty, Nevada. Coeur, who operates Guadalupe-Palmarejo (discussed on page 51), purchased Northern Empire Resource Corp. (“Northern Empire”) and the Sterling property in 2018. Franco-Nevada holds 1/8 th of a 2% NSR, or an effective 0.25% NSR royalty, on approximately 272 lode mining claims with a small minimum advance royalty. Sterling underground mining operations were terminated at the end of May 2015. Coeur is continuing to advance exploration throughout 2022, focusing on infill and expansion drilling. Franco-Nevada has not included Sterling in Royalty Ounce estimates Sterling Au Nevada, United States Operator: Coeur Mining, Inc. Royalty: NSR: 0.25% Precious Metals

Franco-Nevada 2022 Asset Handbook - Page 65

2022 ASSET HANDBOOK 66 FNV TSX NYSE Island Gold Millmerran Red October Henty Mt Keith Duketon Yandal (Bronzewing/Julius) King Vol Bowen Basin South Kalgoorlie (Mt Martin) Flying Fox Australia Subika (Ahafo) Tasiast Sabodala Edikan MWS Perama Hill Kiziltepe Karma Sissingue Pandora Courageous Lake Musselwhite Hemlo Detour Lake Goldfields Timmins West Sudbury Kirkland Lake Golden Highway Canadian Malartic Cariboo Dublin Gulch (Eagle) Red Mountain Franco-Nevada Australia Office Valentine Lake Red Lake (Bateman) Agate Creek White Dam Séguéla Edna May Higginsville (Lake Cowan) Aphrodite Matilda (Wiluna) Agnew (Vivien) South Kalgoorlie (New Celebration/ Mt Marion Lithium) Cue Gold (Day Dawn) Agi Dagi ̆ ̆ Producing Advanced Producing (Energy) Greenstone (Hardrock) Monument Bay Brucejack Eskay Creek Producing Advanced PRECIOUS METALS CANADA

FRANCO-NEVADA CORPORATION 67 THE GOLD INVESTMENT THAT WORKS Quebec Ontario Detour Lake Royalty Area 2% NSR 0.5-1% NSR Mine Property Block D N Km O 2.5 5 West Pit Gowest Property Main Pit Other Quebec royalty claims not shown Block E Zone 58N Block A Block B Block C North Pit Sunday Lake Deformation Zone Lower Detour Lake Deformation Zone Sunday Lake Deformation Zone North Pit Main Pit West Pit Detour Mine Trend Saddle Zone Detour Lake Mine Km O 1 D Reser ve Pit Outline Resource Pit Outline Current Pit Outline Current Pit Outline Detour Lake Quebec Ontario Island Gold Millmerran Red October Henty Mt Keith Duketon Yandal (Bronzewing/Julius) King Vol Bowen Basin South Kalgoorlie (Mt Martin) Flying Fox Australia Subika (Ahafo) Tasiast Sabodala Edikan MWS Perama Hill Kiziltepe Karma Sissingue Pandora Courageous Lake Musselwhite Hemlo Detour Lake Goldfields Timmins West Sudbury Kirkland Lake Golden Highway Canadian Malartic Cariboo Dublin Gulch (Eagle) Red Mountain Franco-Nevada Australia Office Valentine Lake Red Lake (Bateman) Agate Creek White Dam Séguéla Edna May Higginsville (Lake Cowan) Aphrodite Matilda (Wiluna) Agnew (Vivien) South Kalgoorlie (New Celebration/ Mt Marion Lithium) Cue Gold (Day Dawn) Agi Dagi ̆ ̆ Producing Advanced Producing (Energy) Greenstone (Hardrock) Monument Bay Brucejack Eskay Creek Producing Advanced PRECIOUS METALS DIVERSIFIED ASSETS RESERVES AND RESOURCES ADDITIONAL INFORMATION Canada 2021 2020 2019 Revenue to Franco-Nevada ($ million) $ 25.3 $ 20.4 $ 16.8 Detour Lake P&P Reserves (koz Au) 1 15,034 15,775 14,846 Detour Lake M&I Resource (koz Au) 1 29,752 20,432 19,261 Detour Lake Inferred Resource (koz Au) 1 1,196 1,470 1,273 P&P Royalty Ounces (000s) 2 301 316 297 M&I Royalty Ounces (000s) 1, 2 595 409 385 Inf Royalty Ounces (000s) 2 24 29 25 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 100% of the Mineral Reserves and Mineral Resources are subject to our royalty interest and estimates a rate of 2.0% is applicable Detour Lake Au Ontario, Canada Operator: Agnico Eagle Mines Limited Royalty: NSR: 2% Precious Metals Franco-Nevada has a 2% NSR royalty that covers an area of 140 km 2 of the Abitibi greenstone belt located 185 km northeast of Cochrane, Ontario including the Detour Lake mine. Placer Dome Inc. operated a mine on the property from 1983 through 1999 during which time approximately 1.8 million ounces of gold are estimated to have been produced. Detour Gold Corpor ation (“Detour Gold”) constructed the current mine from 2010 to 2013 and in 2020 Kirkland Lake Gold Ltd. (“KLG”) acquired Detour Gold. On February 8, 2022, Agnico Eagle Mines Limited (“Agnico Eagle”) and KLG completed a merger of equals, with the combined company continuing as Agnico Eagle. Pr oduction at Detour Lake was 712,824 ounces of gold in 2021, a significant increase from 516,757 ounces of gold for the 11 months in 2020 after Detour Lake was acquired by KLG. Three-year production guidance for Detour Lake is anticipated to be between 700,000 to 730,000 ounces of gold per year in 2022 to 2024. In Mar ch 2021, KLG announced the 2021 life of mine plan with production expected to average 680,000 to 720,000 ounces from 2021 to 2024, before increasing to 800,000 ounces in 2025. Production would then decline for three years during a period of increased stripping before reaching over 900,000 ounces beginning in 2032. KLG has previously reported that an important objective of any near-mine resource conversion would be to adjust the production profile to mitigate a drop off in production after 2025 while achieving 900,000 ounces of production as soon as possible in the mine life. In September 2021, KL G released an updated mineral resource estimate. The new estimate included a 10.1 million ounce increase in Measured and Indicated open-pit Mineral Resources to 14.7 million ounces of gold (572.0 million tonnes at 0.80 g/t), exclusive of Mineral Reserves. At December 31, 2021, Mineral Reserves at Detour Lake were estimated at 15.0 million ounces of gold (573.3 million tonnes at 0.82 g/t). A new technical report and life-of-mine plan are expected to be filed in Q2 2022 and Agnico Eagle anticipates an enhanced production profile with increased mineral reserves and mineral resources. Successful e xploration programs in 2020 and 2021 have led to a significant increase in open-pit mineral resources in 2021, demonstrating the existence of a broad and continuous corridor of mineralization extending over 4.0 km from the Main Pit through the Saddle Zone to the planned West Pit location to a depth of at least 800 m below surface with the system remaining open. In addition, drill results have identified broad zones of higher-grade mineralization below the current pit shells for the Main Pit and West Pit, indicating the potential to add both open-pit and, potentially underground, mineral reserves and mineral resources. Priorities of the 2022 exploration program are the expansion of the Detour Lake pit and Agnico Eagle expects to expand mineral resources at depth and to the west, and to continue to investigate the Sunday Lake deformation zone to the east and west of the current pit's mineral resources. Agnico Eagle has stated it will continue to e xplore the land package in the prolific Abitibi Greenstone Belt including 646 km 2 surrounding the Detour Lake property. While Zone 58N, a high-grade satellite 8.5 km south of Detour Lake with underground potential is not on royalty ground, there is considerable potential for new discoveries on Franco-Nevada’s royalty ground to support future mineral resource growth both near-mine and regionally. Significant resource increase in 2021, new life-of-mine plan expected in 2022 Production growth expected 2022-2024 Detour Lake, Ontario

Franco-Nevada 2022 Asset Handbook - Page 67

2022 ASSET HANDBOOK 68 FNV TSX NYSE N Podolsky Levack (Morrison Deposit) McCreedy West Sudbur y Igneous Complex Chelmsford Formation Onaping & Onwatin Formations Current and Former Mines Mill Smelter SUDBURY Clarabelle Mill Smelter Strathcona Mill Creighton Copper Cliff Nickel Rim South Totten Coleman Km 0 5 2021 2020 2019 PGM Revenue to FNV ($ million) $ 14.6 $ 35.3 $ 35.9 Gold Revenue to FNV ($ million) $ 2.8 $ 4.8 $ 5.3 Total Revenue to FNV ($ million) $ 17.4 $ 40.1 $ 41.2 PGM P&P Reserves (koz PGM) 1 n/a n/a n/a PGM M&I Resource (koz PGM) 1 n/a n/a n/a PGM Inferred Resource (koz PGM) 1 n/a n/a n/a Gold P&P Reserves (koz Au) 1 n/a n/a n/a Gold M&I Resource (koz Au) 1 n/a n/a n/a Gold Inferred Resource (koz Au) 1 n/a n/a n/a P&P Royalty Ounces (000s) 2 24 33 11 M&I Royalty Ounces (000s) 1, 2 24 33 11 Inf Royalty Ounces (000s) 2 – – – 1 K GHM does not provide public estimates for Mineral Reserves and Mineral Resources. Previous estimates have not been updated in numerous years and thus Franco-Nevada has chosen not to continue to report these figures 2 For Ro yalty Ounce calculation, Franco-Nevada estimates 5 years of mining (5 years in 2020, 1 year in 2019) from McCreedy West are subject to our 50% stream interest to which a 40% margin factor (54% in 2020) has been applied based on assumed ongoing payments of 60% of the spot price. Platinum and palladium have been converted to Royalty Ounces assuming $1,800/ounce Au, $1,000/ounce Pt and $2,100/ounce Pd ($1,750/ounce Au, $1,100/ounce Pt and $2,200/ounce Pd in 2020, $1,400/ounce Au, $1,050/ounce Pt and $1,300/ounce Pd in 2019). Note that this stream interest is calculated based on contained ounces in ore as there are no losses associated to metallurgical recoveries in the calculation of the Royalty Ounce Sudbury PGM & Au Ontario, Canada Operator: KGHM International Ltd. Stream: 50% Precious Metals Stream Precious Metals Franco-Nevada has three precious metals streams in the Sudbury basin of Ontario. Franco-Nevada is entitled to purchase 50% of the precious metals contained in ore produced from the footwall portions of three separate mines subject to ongoing payments per ounce. The streams are calculated based on contained precious metals in the delivered ore rather than payable metals. The streams were acquired as part of Franco-Nevada’s acquisition of Gold Wheaton Gold Corp. (“Gold Wheaton”) in March 2011. At the time of acquisition b y Franco-Nevada, the mines were operated by Quadra FNX Mining Ltd. (“Quadra FNX”) which was subsequently acquired by KGHM International Ltd. (“KGHM”) in March 2012. The three mines are the Levack (Morrison Deposit), Podolsky and McCreedy West mines. The footwall deposits are primarily rich in palladium followed by platinum and gold. KGHM does not have processing facilities in Sudbury and sells the ore to third parties for processing. Currently all ore is being processed by Vale’s Clarabelle plant in Sudbury. McCreedy West Mine: The stream agreement applies to the PM and 700 deposits at the McCreedy West mine. McCreedy West stopped mining the precious metal-rich ores in the PM deposit in 2011. Franco-Nevada agreed to renegotiate the existing contract with KGHM and mining restarted in September 2018. In February 2021, KGHM approved an updated life of mine plan which extended mining operations at the McCreedy West mine for another 5 years. To support this extension of operations, Franco-Nevada agreed to increase its purchase price per GEO effective June 1, 2021, from $800 per ounce to 60% of the prevailing monthly average gold spot price during periods when monthly average gold prices exceed $1,333 per ounce subject to a cap of $1,200 per ounce. McCreedy is expected to be the main source of revenue from Sudbury to Franco-Nevada in 2022 following Levack (Morrison Deposit) being put on care and maintenance in 2019. Levack (Morrison Deposit): This mine was put into production in 2007 but was placed on care and maintenance in Q1 2019. Podolsky Mine: The stream agreement applies to the 2000 and North deposits at the Podolsky mine which operated between 2008 and 2013. The mine is currently on care and maintenance. McCreedy West continues to be the main source of revenue from Sudbury for Franco-Nevada in 2022 Sudbury Quebec Ontario PRECIOUS METALS Canada Sudbury, Ontario

FRANCO-NEVADA CORPORATION 69 THE GOLD INVESTMENT THAT WORKS Hemlo Long Section ‘C’ Zone Pit Williams Shaft & Mill Surface Mined Area 3% NSR + 50% NPI ‘C’ Zone ‘B’ Zone 9975 9765 9555 9450 9240 9160 Mined Area Williams Mine Franco-Nevada Royalty Ground Hemlo Quebec Ontario Canada PRECIOUS METALS DIVERSIFIED ASSETS RESERVES AND RESOURCES ADDITIONAL INFORMATION 2021 2020 2019 Revenue to Franco-Nevada ($ million) $ 27.6 $ 69.9 $ 18.2 P&P Reserves (koz Au) 1 1,100 1,500 1,300 M&I Resource (koz Au) 1 2,600 3,300 3,150 Inferred Resource (koz Au) 1 820 900 1,000 P&P Royalty Ounces (000s) 2 54 76 55 M&I Royalty Ounces (000s) 1, 2 127 167 133 Inf Royalty Ounces (000s) 2 40 46 42 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 approximately 20% of the publicly reported Mineral Reserves and Mineral Resources for Hemlo are on its royalty ground and estimates a rate of 4.90% (5.07% in 2020, 4.21% in 2019) is applicable when factoring our NSR and NPI interests. Please see page 30 for our methodology on calculating Ro yalty Ounces for an NPI Hemlo Au Ontario, Canada Operator: Barrick Gold Corporation Royalty: NSR: 3% / NPI: 50% Precious Metals The Hemlo gold mine has been producing gold for over 30 years and is located adjacent to the Trans-Canada highway near Marathon, Ontario. Barrick is the operator and manages both the open-pit and underground operations. Franco-Nevada has both a 3% NSR royalty and a 50% NPI royalty on a portion of the western down-dip underground extension, principally the Lower C Zone, of the Hemlo ore-body as shown in the longitudinal schematic. Initial mining on the r oyalty property began in late 2008, but revenues were limited to the 3% NSR royalty. The 50% NPI portion of the royalty began paying in the third quarter of 2012 after the upfront capital costs had been recovered by Barrick. Pr oduction at Hemlo decreased from 223,000 ounces of gold in 2020 to 150,000 ounces of gold in 2021. All-in sustaining costs, which is important to take into consideration with respect to the NPI royalty, increased to $1,970 per ounce in 2021 versus $1,423 per ounce in 2020. Barrick is forecasting 2022 estimated production of 160,000 to 180,000 ounces at an all-in sustaining cost of between $1,510 to $1,590 per ounce. Re venue from Hemlo in 2021 decreased significantly relative to 2020, reflecting a decrease in production from ground where Franco-Nevada has royalty interests and higher operating costs which affected royalties under the NPI. Barrick expects improved underground activity in 2022 and has reported that infill drilling is ramping up in the western extension (E-Zone) to continue expanding the orebody. Further production increases will depend on resource conversion and exploration success, however, based on current reserves and development, production on royalty ground is expected to gradually reduce. Barrick has established an exploration team dedicated to discovering new potential in prospective Canadian belts. Profit royalties provide more leverage to gold prices Established mine operation in Ontario - Barrick’s only Canadian operation Hemlo, Ontario

Franco-Nevada 2022 Asset Handbook - Page 69

2022 ASSET HANDBOOK 70 FNV TSX NYSE Vancouver Km 0 2 British Columbia Stewart Brucejack Property Brucejack Property Brucejack Lake West Zone Gossan Hill Zone Hanging Glacier Zone Bonanza Zone Flow Dome Zone Bridge Zone Shore Zone Golden Marmot Zone SG Zone Snowfield Brucejack Mine Valley of the Kings Brucejack Project Royalty Area 1.2% NSR Covered by Royalty Not Covered by Royalty 2021 2020 2019 Revenue to Franco-Nevada ($ million) $ 7.0 $ 7.2 $ 5.6 P&P Reserves (koz Au) 1, 2 3,900 4,200 6,400 M&I Resource (koz Au) 1, 2 7,200 7,600 8,500 Inferred Resource (koz Au) 1, 2 3,100 3,100 3,000 P&P Royalty Ounces (000s) 2, 3 47 50 77 M&I Royalty Ounces (000s) 1, 2, 3 86 91 102 Inf Royalty Ounces (000s) 2, 3 37 37 36 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 Does not include silver Miner al Reserves or Mineral Resources 3 For Ro yalty Ounce calculation, Franco-Nevada estimates that 100% of the remaining Mineral Reserves and Mineral Resources are subject to our royalty interest and estimates a rate of 1.2% is applicable Brucejack Au & Ag British Columbia, Canada Operator: Newcrest Mining Limited Royalty: NSR: 1.2% Precious Metals In May 2013, Franco-Nevada purchased an existing 1.2% NSR royalty covering Pretium Resources Inc.’s (“Pretium”) Brucejack gold project in northwestern British Columbia. The project includes two principal deposits, the Valley of the Kings and the West Zone. In November 2021, Newcrest Mining Limited (“Newcrest”) agreed to acquire Pretium and, on March 9, 2022, the acquisition was completed. Pr etium poured first gold from the Brucejack project in June 2017 and achieved commercial production in July 2017. Brucejack produced 347,743 ounces of gold in 2020 and Pretium was guiding towards 325,000 to 365,000 ounces of gold for 2021. Newcrest is expecting Brucejack to add approximately 370,000 ounces of gold to its portfolio in 2022. Pr etium released an updated Mineral Resource and Reserve estimate and an accompanying life of mine plan at the end of March 2020. Pretium’s guidance at the time stated a life of mine average annual gold production of approximately 311,000 ounces of gold with a 13-year mine life. Continued e xploration is expected to focus on expanding the current Mineral Resource and Mineral Reserve at the Valley of the Kings, targeting zones at depth, to the east, west and north-east. Areas at depth below, to the east and to the north-east of the currently defined Mineral Resource are considered highly prospective for additional Mineral Resource expansion. Near-mine exploration targets on royalty ground outside of the West Zone include the Bridge Zone, Shore Zone, Gossan Hill Zone, SG Zone, Bonanza Zone and the western portion of the Flow Dome Zone. The easternmost portion of the PRECIOUS METALS Canada Flow Dome Zone, east of the Valley of the Kings, is not covered on royalty ground. The Golden Marmot and Hanging Glacier Zones, north of the Valley of the Kings, are covered on royalty ground. In Q3 2021, Pretium released new high-grade mineralization results from the Golden Marmot Zone with 72.5 g/t Au over 53.5 meters. In December 2020, Pretium sold the Snowfield property (not on royalty ground) to a subsidiary of Seabridge Gold Inc. New operator focused on growth Definition drilling and near-mine exploration programs Golden Marmot and Hanging Glacier discoveries on royalty ground Brucejack, British Columbia

FRANCO-NEVADA CORPORATION 71 THE GOLD INVESTMENT THAT WORKS Kirkland Lake Quebec Ontario Canada PRECIOUS METALS DIVERSIFIED ASSETS RESERVES AND RESOURCES ADDITIONAL INFORMATION 2021 2020 2019 Revenue to Franco-Nevada ($ million) $ 5.8 $ 5.4 $ 5.2 P&P Reserves (koz Au) 1 1,856 2,368 2,360 M&I Resource (koz Au) 1 3,934 4,467 4,356 Inferred Resource (koz Au) 1 3,781 3,414 3,114 P&P Royalty Ounces (000s) 2 28 36 35 M&I Royalty Ounces (000s) 1, 2 66 73 72 Inf Royalty Ounces (000s) 2 70 64 59 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. The table above is the sum of reported Agnico Eagle Mineral Reserves and Mineral Resources 2 For Ro yalty Ounce calculation, Franco-Nevada estimates 100% of the Mineral Reserves and Miner al Resources are subject to our royalty interest and estimates a rate of 1.5% is applicable to Macassa and a rate of 2.0% is applicable to Amalgamated Kirkland (AK), Anoki-McBean and Upper Canada Kirkland Lake Au Ontario, Canada Operator: Agnico Eagle Mines Limited Royalty: NSR: 1.5-5.5%; NPI: 20% Precious Metals Franco-Nevada has various royalties covering approximately 170 km 2 of the Larder Lake and Main Breaks in the historic Kirkland Lake gold camp of Ontario. Agnico Eagle maintains the largest interest in the area and operates the Macassa mine which includes production from the Main Break, ’04 Break and the high-grade South Mine Complex (“SMC”). On February 8, 2022, Agnico Eagle and KLG completed a merger of equals, with the combined company continuing as Agnico Eagle. Fr anco-Nevada’s royalty interests with Agnico Eagle include: • An o verlying 1.5% NSR on all of Agnico Eagle’s properties (including the Macassa mine) • An underlying 20% pr ofit-based royalty immediately to the south-west of the SMC as shown in the inset of the schematic • An underlying 2-3% NSR on claims to the west of curr ent operations • An underlying 2% NSR r oyalty on claims that KLG purchased from Queenston Mining Inc. in July 2012 Macassa pr oduced 210,192 ounces of gold in 2021 compared to 183,037 ounces of gold in 2020. Production in 2022 is forecast to be between 170,000 to 190,000 ounces of gold. Agnico Eagle continues to advance the construction of the #4 Shaft. A significant milestone was achieved in January 2022 when the sinking phase of the project was completed to 6,400 feet. Remaining work includes the construction of the loading pocket and other infrastructure as well as additional development to connect the #4 Shaft to current mining operations. The full project is on schedule for completion in late 2022. The #4 Shaft is expected to provide numerous benefits, including increased hoisting capacity, improved unit costs, better ventilation, and enhanced capabilities to pursue exploration potential across the Kirkland Lake camp. Gold production at Macassa is forecast to increase to between 200,000 to 220,000 ounces in 2023 and 330,000 to 350,000 ounces in 2024. Production levels could potentially increase once the full benefit of the #4 Shaft is realized. Underground drilling continues to expand the South Mine Complex, Main Break, '04 Break, Amalgamated Break as well as additional near-surface targets, all of which may benefit Franco-Nevada’s other royalties on the project. Fr anco-Nevada also has a 2% NSR royalty covering the majority of claims held by Agnico Eagle from its acquisition of Osisko Mining Corporation (“Osisko”) in April 2014. Agnico Eagle bought out its JV partner Yamana at the end of 2017 and now owns 100% of the claims. Franco-Nevada’s royalties cover the Upper Canada, Anoki-McBean and Canadian Kirkland deposits. Agnico Eagle expects to drill 15,800 m at the Upper Beaver and Upper Canada deposits and other targets in the Kirkland Lake camp in 2022. Kirkland Lake, Ontario #4 Shaft to increase production by 2024 Large land position in historical mining area covering multiple known deposits Exciting exploration potential on royalty ground at Upper Canada

Franco-Nevada 2022 Asset Handbook - Page 71