Message FNV: TSX | NYSE from our CEO Approach to Climate Change ESG Ratings TCFD Disclosure Franco-Nevada The Task Force on Climate-related Financial Disclosures (TCFD) seeks to develop consistent climate- related financial risk disclosures for companies in their financial and sustainability reporting. The TCFD considers the physical, liability and transition risks associated with climate change and what constitutes effective financial disclosures. The TCFD’s focus is not on companies’ impacts on the environment, Making Responsible it is on the environment’s impact on companies and can therefore be viewed as complementary to other Investments reporting frameworks that address the carbon footprints of companies’ operations. TCFD is particularly pertinent for companies in which climate change genuinely presents a significant risk to the viability of the business, which does not solely involve Guiding Principles physical impacts but also includes additional risks from transitioning to a lower-carbon economy. TCFD can also be used as an opportunity to demonstrate competitive advantage, by providing a platform for companies to describe how their businesses mitigate climate-related risks or how they are proactively pursuing the opportunities of a transition to a low-carbon economy. Operators At the date of this ESG Report, many of the operators of projects in which we hold royalties or streams, including operators of several of our key mining assets have become public supporters of the TCFD and many do, or have committed to, have TCFD-compliant climate-related disclosure. We expect that TCFD reporting will become mainstream with our mining and energy operators in the near term. We applaud these initiatives and we declared our own support for the TCFD and its recommendations in early 2021. Approach to The climate disclosure included in this year’s ESG Report, including in Appendix C, Climate Change is our second consecutive year of reporting aligned with the TCFD. We continue to aim to provide increased transparency in our TCFD reporting. Contributions In early 2022, we conducted a gap analysis by reviewing our current climate strategy and TCFD disclosure contained in last year’s ESG Report in order to identify areas for improvement and to ensure we are aligned with TCFD recommendations and best practices. This process has resulted in several Employees year-over-year improvements to our climate strategies and procedures as well as to our TCFD disclosure, which are described in this ESG Report. Governance “The Climate Disclosure included in this year’s ESG Report, including in Appendix C, is our About this second consecutive year of reporting aligned ESG Report with the TCFD.” Ambulance fleet donated by Kinross Tasiast to support Mauritanian government’s fight against COVID-19 Appendices 34