Message FNV: TSX | NYSE from our CEO ESG Ratings Message from our CEO Over the last year, I have been impressed by the dynamic and progressive response Franco-Nevada of our team and of our operating partners, both to the immediate challenges of the pandemic and to the ongoing challenges of sustainable mining. We continue to be committed to provide capital and support to the companies and operations that Making Responsible lead the industry in responsible mining and resource extraction and are proud of Investments the progress achieved during the year. I am pleased to provide this report on the strides our company and our partners have made on environmental, social and Guiding Principles governance issues and on our expanded commitments to sustainability. Response to the Ongoing Pandemic. Operators 2021 was another challenging year with the pandemic impacting individuals, operations and communities. The environment took its toll on the staff at many of the operations where we have investments and we extended a number of programs to support workers Approach to and families. When COVID-19 intensified during portions of the year, we transitioned Climate Change our workforce to working remotely and developed work-arounds for certain of our due diligence processes, which allowed us to add several assets to our portfolio. At present, Paul Brink, Contributions we have adopted hybrid work arrangements for our employees to continue to provide President & CEO flexibility and reduce commuting time and health risk exposure. Employees Responsible Resource Development. We recognize the growing importance of our role directing investor capital to promote responsible mining and energy extraction. During our due diligence, we thoroughly consider the impacts of the operation or the planned project on the environment Governance and the benefits provided to local communities. Some investments considered during the year did not meet those criteria and we determined not to proceed with them. A number of our executives are active in the leadership of World Gold Council and we proactively engage with operators around adopting the World Gold Council Responsible Gold Mining Principles or similar About this standards when negotiating our investments. We were impressed by the accomplishments of our operators in 2021 and have ESG Report profiled some of their notable achievements in this report. Appendices 3