Message FNV: TSX | NYSE from our CEO Approach to Climate Change ESG Ratings Carbon Neutral for Operations Franco-Nevada Our greatest impact in the fight against climate change is through deploying capital to operations with limited carbon footprints and environmental impacts and to operators that are committed to reducing those impacts. We are also committed to reducing our own carbon footprint. Since 2020, our global operations have been Making Responsible carbon neutral and we are committed to achieving this annually going forward. Investments We have accomplished this, and will continue to do so, through workplace initiatives to reduce our carbon footprint and by purchasing high quality carbon offsets Guiding Principles to account for emissions we cannot eliminate. For 2021, we offset our global operational emissions by purchasing from Less Emissions, a Canadian supplier of high quality carbon offsets, an equal combination Operators of (1) Gold Standard-certified emission reduction offsets produced from international projects, and (2) CSA Standard-certified emission reduction offsets from Canadian projects. The choice to source our offsets from both Canadian and international Approach to projects was intended so that we could have an impact in Canada and in Climate Change developing countries. Please refer to Appendix G to this ESG Report for further details of our 2021 carbon neutral initiative. Contributions While it is important for us to be operationally carbon neutral, we acknowledge that our own total operational emissions are minor relative to the operations in which we invest and much of our ability to have a positive impact on the climate Employees relates to our capital allocation strategy and our rights under the existing royalty Commerce Court West in Toronto and stream assets in our portfolio, which are described in this ESG Report. Governance “Since 2020, our global operations have been carbon neutral and we TM About this are committed to achieving this ESG Report annually going forward.” Appendices 30