2022 ASSET HANDBOOK 122 FNV TSX NYSE Energy–Canada Weyburn Unit Oil Saskatchewan, Canada Operator: Whitecap Resources Inc. Royalty : NRI: 11.71% /ORR: 0.44% / WI: 2.56% Energy Franco-Nevada, after Whitecap Resources Inc. (“Whitecap”), has the second largest economic interest in the Weyburn Unit, one of the world’s largest geological CO 2 storage projects. The Weyburn Unit is located approximately 129 km southeast of Regina, Saskatchewan and encompasses approximately 216 km 2 on a gross basis (net 31 km 2 ) in which the Mississippian Midale beds are unitized. As of December 31, 2021, Franco-Nevada held an 11.71% NRI, a 0.44% ORR and a 2.56% WI in the Weyburn Unit. Production commenced from the Midale zone within the unitized area in 1955 under primary depletion (solution gas expansion). Establishment of the Weyburn Unit occurred in 1963 for the purpose of implementing a waterflood pressure maintenance scheme. In 2000, Cenovus, the operator at that time, began injecting CO 2 in a portion of the Weyburn Unit as an enhanced oil recovery (“EOR”) method. Gross production of the Weyburn Unit is approximately 22,000 Boe/d of light oil. Weyburn is a long-life asset with a proven and probable reserve life of almost 20 years. For 2021, revenue received by Franco-Nevada from the Weyburn Unit was $43.8 million. Revenue for the NRI is recorded net of deductions for capital and operating costs, which results in increased leverage to the oil price. Oil production, including NGLs, net to Franco-Nevada was 2,015 Boe/d. Franco-Nevada takes product-in-kind for its WI and NRI share of this production and markets it through a third party marketer. Weyburn is a highly economic reservoir, although our NRI and Working Interest in the unit have higher leverage to commodity price swings that our revenue based royalties. Our interests benefited from the recovery in commodity prices in 2021 following the pandemic lows in 2020. CO 2 EOR project commenced in 2000 and continues to be rolled out Interests are highly leveraged to commodity prices Low decline asset with proven production history DIVERSIFIED ASSETS Weybur n Unit wells Unitized land Note: not to scale T7 T6 T5 R13W2 R12W2 R14W2 N Weybur n Unit Note: not to scale R15W2 R14W2 R13W2 R12W2 R11W2 R10W2 R9W2 R8W2 R15W2 R14W2 R13W2 R12W2 R11W2 R10W2 R9W2 R8W2 T9 T8 T7 T6 T5 T4 T3 T9 T8 T7 T6 T5 T4 T3 Weybur n, SK Unitized land Midale, SK N Pacific Ocean Alberta British Columbia Saskatchewan Manitoba United States Weyburn 2021 2020 2019 Revenue to Franco-Nevada ($ million) 1 $ 43.8 $ 16.0 $ 33.8 Production (Mboe) 2 736 511 681 Commodity Split (%) 3 Oil 100% 100% 100% Gas 0% 0% 0% NGL 0% 0% 0% 1 Revenue refers only to payments made to Franco-Nevada 2 Net to the Oil & Gas Interests based on 0.44% ORR, 11.71% NRI and 2.56% WI. ORR and W.I. volumes are a percentage of gross production. NRI volumes are pro-rated based on our profit, reflecting a net interest 3 Percentage based on production revenue from each commodity Weyburn processing facility, Saskatchewan