GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL GAS NGLS OIL NATURAL IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER SILVER PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM PLATINUM IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE IRON ORE GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD GOLD 9 2008 2009 2010 2011 2012 2013 2014 2016 2017 2015 2018 2019 2020 2021 2022 240.00 220.00 200.00 180.00 160.00 140.00 120.00 100.00 80.00 60.00 40.00 20.00 0.00 200.00M 0.00M PRECIOUS METALS DIVERSIFIED ASSETS OVERVIEW RESERVES AND RESOURCES ADDITIONAL INFORMATION Our Unique Approach In our view, there is enough cyclicality in the commodity sector without adding leverage and there is option value to having liquidity to do deals when others cannot. Our conservative balance sheet approach was vindicated with the commodity downturn of 2014-2016. It forced even the largest global mining companies to repair their balance sheets. We were able to invest US$1.8 billion in those years creating precious metals streams at Candelaria, Antamina and Antapaccay. These large assets, along with Cobre Panama, have further diversified our portfolio with longer duration assets than can be typically found in the gold industry. We have not forgotten our roots and continue to also invest in smaller development-stage assets. It takes a long-term perspective to plant these acorns for Franco-Nevada’s future. Our total mining asset count has grown from 190 at IPO to 322 today including exploration assets on some of the world’s best gold belts and royalties on a suite of copper and nickel development projects. We have also invested in resources outside of precious metals when good opportunities have come to market. This has added cash flow growth and exposure to the exploration upside on a broader range of world-class resources. With oil prices falling sharply in 2014, we set about adding to our oil and gas royalty interests, particularly in the major U.S. basins including the Permian and the Marcellus. We have also been attracted to the long reserve life of high-quality iron ore deposits and, in 2021, added royalty exposure to Vale’s Northern and Southeastern Iron Ore systems in Brazil. In Search of Good Geology We believe the depth of our portfolio gives us the latitude to patiently search for exposure to good geology. Our desire is to build the most diverse portfolio of royalties and streams exposed to precious metal prices, but also to exploration success across the world’s greatest mineral belts. Our prospects to put more capital to work in the capital intensive and cyclical resource sector have never been better. The listing was one of the largest in Canadian history ...and the largest mining IPO in North American history. “ ”