FRANCO-NEVADA CORPORATION 135 THE GOLD INVESTMENT THAT WORKS RESERVES AND RESOURCES ADDITIONAL INFORMATION Reserves and Resources Notes and Sources • All Mineral Reserves and Resources have been calculated in accordance with CIM or acceptable foreign codes for the purposes of NI 43-101, including S-K 1300, SEC Industry Guide 7, JORC, or SAMREC guidelines • Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability • Unless otherwise noted, Mineral Resources were reported by the operator inclusive of Mineral Reserves • Contained metal does not take into account recovery losses • Franco-Nevada’s royalties or stream interests may not cover the operator’s entire property or all estimated Mineral Reserves and Resources or a combination of both • Mineral Reserve estimates reported by Vale S.A. have been prepared and reported in accordance with SEC Industry Guide 7 and as such no Mineral Resources are reported • The grade of platinum group elements has been reported by the operators as either the sum of the individual platinum group elements grades or the individual grades. In the cases where individual platinum group element grades have been reported, the Company’s Qualified Person has calculated the sum of the platinum group element grades for presentation purposes • Mineral Reserves and Resources based on publicly disclosed information available as of March 11, 2022 • Rows and columns may not add up due to rounding • Inferred Resources are in addition to Measured and Indicated Resources. See “Cautionary Note to US Investors Regarding Reserve and Resource Reporting Standards” 1 Mineral Resources reported by operator exclusive of Mineral Reserves. The Company's QP determined the inclusive Mineral Resources by adding the exclusive Measured and Indicated Mineral Resources to the Proven and Probable Reserves 2 Mineral Reserves and Resources are reported by the operator in non-metric units. The Company's QP calculated the metric conversion using 1 opt = 34.286 g/t, 1 short ton = 0.9018 metric tonnes, 1 oz = 31.1035 g 3 Lundin Mining Corporation; Company Press Release, September 13, 2021 4 The stream agreement applies to 100% of the property, but only with respect to the ownership interest of Lundin Mining Corporation which indirectly owns 80% of the Candelaria Copper Mining Complex 5 Glencore; Resources & Reserves as at December 31, 2021 6 Southern Peaks Mining LP; Mineral Reserves: Feasibility Study Condestable Mine, October 15, 2021. Mineral Resources: Letter to Franco-Nevada (Barbados) Corporation, February 4, 2022, containing global, in situ, resource estimate 7 Vale S.A., Form 20-F as filed with the Securities and Exchange Commission on March 23, 2021 8 Yamana Gold Inc.; News Release, February 8, 2022 9 Gold Fields Limited; Mineral Resources and Mineral Reserves Supplement to the Integrated Annual Report 2020 10 SolGold Plc; Annual Report 2021 & News Release, October 19, 2021 11 Hochschild Mining Plc; News Release, November 30, 2021 12 First Quantum Minerals Ltd.; News Release, November 30, 2020 13 OZ Minerals Ltd.; Mineral Resource Estimate and Ore Reserve Statement as at May 6, 2019 and June 24, 2019 14 Patagonia Gold Corp.; Investor Presentation, November 2021 15 Coro Mining Corp.; NI 43-101 Technical Report, Preliminary Feasibility Study, San Jorge 25kt/y Copper Leach Project, March 2012 16 Hochschild Mining Plc; Corporate Website, February 10, 2022 17 First Quantum Minerals Ltd.; Annual Information Form, March 29, 2021 18 Coeur Mining, Inc.; News Release, February 16, 2022 19 Barrick Gold Corporation; Press Release, February 10, 2022. Carlin Trend includes Goldstrike, Gold Quarry and South Arturo as well as other properties where Franco-Nevada has no royalties or stream interests 20 SSR Mining Inc.; Technical Report, February 2022 21 Kinross Gold Corporation; News Release, February 16, 2022 22 Equinox Gold Corp.; Mineral Reserves and Mineral Resources, September 20, 2021 23 Equinox Gold Corp.; Mineral Reserves and Mineral Resources, September 20, 2021 24 Hecla Mining Company; Company Press Release, February 17, 2022 25 Hecla Mining Company; Company Press Release, February 17, 2022 26 Midas Gold Corp. (now Perpetua Resources Idaho, Inc.); NI 43-101 Feasibility Study Technical Report, December 22, 2020 27 Gold Bull Resources Corp.; News Release, February 2, 2021 28 KGHM; Mineral Resources and Reserves Report, December 31, 2014 29 Agnico Eagle Mines Ltd.; Mineral Reserves and Mineral Resources as of December 31, 2021 30 KGHM does not provide updated Mineral Reserve and Mineral Resource estimates. As such, Franco-Nevada has chosen not to display the historical figure moving forward 31 Barrick Gold Corporation; Press Release, February 10, 2022 32 Pretium Resources Inc.; 2021 Brucejack Mine Mineral Reserves and Mineral Resources 33 Agnico Eagle Mines Ltd.; Mineral Reserves and Mineral Resources as of December 31, 2021 34 Victoria Gold Corp.; Corporate Website, January 2022 35 Newmont Corporation; News Release, February 24, 2022 36 Pan American Silver Corp.; NI 43-101 Technical Report, June 30, 2021 37 Yamana Gold Inc.; News Release, February 8, 2022 38 Alamos Gold Inc.; Press Release, February 22, 2022 39 Agnico Eagle Mines Ltd.; Mineral Reserves and Mineral Resources as of December 31, 2021 40 Agnico Eagle Mines Ltd.; Mineral Reserves and Mineral Resources as of December 31, 2021 41 Agnico Eagle Mines Ltd.; Mineral Reserves and Mineral Resources as of December 31, 2021 42 Equinox Gold Corp.; Mineral Reserves and Mineral Resources, September 20, 2021 43 Marathon Gold Corporation; NI 43-101 Technical Report & Feasibility Study, April 15, 2021 44 Skeena Resources Ltd.; NI 43-101 Technical Report and Prefeasibility Study, July 22, 2021 45 Evolution Mining Limited; ASX Announcement, 20 May 2021, NI 43-101 Technical Report, January 27, 2021 prepared for Battle North Gold Corp. 46 Seabridge Gold Inc.; Mineral Reserves and Resources, December 2020 47 Fortune Bay Corp.; Technical Report: Resource Estimate for the Goldfields Project, May 4, 2021 48 Yamana Gold Inc.; News Release, February 8, 2022 49 Ascot Resources Ltd.; Premier & Red Mountain Gold Project Feasibility Study NI 43-101 Technical Report, April 15, 2020 Continued on next page