Message FNV: TSX | NYSE from our CEO (1)(2)(3) ESG Ratings APPENDIX BOperators’ Emissions Emissions (tCO e) 2 Franco-Nevada 2020 2019 2018 Operator Asset Scope 1 Scope 2 Total Scope 1 Scope 2 Total Scope 1 Scope 2 Total Agnico Eagle Mines Canadian Malartic 218,268.0 847.0 219,115.0 227,041.0 1,482.0 228,523.0 204,664.0 1,567.0 206,231.0 Making Responsible Limited (Canada - Quebec) Investments Alamos Gold Inc. Island Gold 12,954.0 2,020.0 14,974.0 13,743.0 2,253.0 15,995.0 12,581.0 2,177.0 14,758.0 (Canada - Ontario) Ariana Resources Kiziltepe 2,764.0 2,538.0 5,302.0 5,475.0 2,870.0 8,346.0 5,100.0 3,046.0 8,146.0 Guiding Principles plc (Turkey) Barrick Gold Hemlo 30,955.0 5,072.0 36,027.0 37,953.0 6,077.0 44,030.0 45,879.0 5,560.0 51,439.0 Corporation (Canada - Ontario) Operators BHP Group Limited Mt. Keith 90,188.2 172,546.2 262,734.4 84,387.2 163,843.0 248,230.2 105,125.5 207,119.9 312,245.5 (Australia - W. Australia) Coeur Mining, Inc. Guadalupe-Palmarejo 10,704.0 311,057.0 321,760.0 10,740.0 322,692.0 333,432.0 8,442.0 271,988.0 280,430.0 (Mexico) Approach to Diversified Henty 542.0 1,281.0 1,823.0 991.0 1,730.0 2,721.0 795.0 1,877.0 2,672.0 Climate Change Minerals Pty Ltd (Australia - Tasmania) Karma 46,408.0 - 46,408.0 39,664.0 - 39,664.0 41,294.0 - 41,294.0 Endeavour Mining (Burkina Faso) Contributions Corporation Sabodala (Senegal) 199,047.0 - 199,047.0 159,996.0 - 159,996.0 202,801.0 - 202,801.0 EP Minerals LLC EaglePicher NA NA NA NA NA NA NA NA NA Employees (USA - Nevada) Castle Mountain 957.0 416.0 1,373.0 - - - - - - (USA - California) Equinox Gold Corp. Mesquite 78,616.0 8,778.0 87,394.0 68,147.0 13,060.0 81,206.0 79,677.0 21,903.0 101,579.0 Governance (USA - California) (4) First Quantum Cobre Panama 2,187,011.0 73,279.2 2,260,290.2 1,991,271.0 149,383.8 2,140,654.8 - - - Minerals Ltd. (Panama) About this (1) Figures in this table are estimated greenhouse gas emissions of producing mining assets where we have royalty and stream interests. Unless otherwise noted, such information has been provided by McKinsey MineSpans (outside-in modeled data - all rights ESG Report reserved). Such data only relates to mine production and excludes emissions attributable to mine construction, pre-stripping, underground development relating to non-operational activities, care and maintenance of assets, and mine rehabilitation. (2) Emission data (i) is provided on a 100% basis, notwithstanding that the applicable operation may be jointly owned by the referenced operator and (ii) applies to the entire project. (3) “NA” means that data is not publicly available and has not been modeled by McKinsey MineSpans. Appendices (4) Commenced commercial production in 2019. Emissions reported in 2018 by First Quantum were related to mine construction and pre-production stripping and were not modeled by McKinsey MineSpans (refer to footnote 1). 76