1FNV

2FNV

Forward-Looking StatementsThis presentation contains certain “forward looking information” and “for ward l ooking statements” withi n the meani ng of applicabl e Canadian securities l aws and the United States PrivateSecurities Litigation Reform Act 1995, r especti vel y, which may incl ude, but are not limited to, s tatements with respec t to future events or future performance, management’s expectationsregarding Franco-Nevada’s growth, r esults of operati ons, esti mated futur e revenues, requirements for additional capital, miner al reser ve and mineral resource esti mates, produc tion esti mates,production cos ts and revenue, future demand for and prices of commodities , expected mini ng sequences , business prospects and opportunities . In addition, statements (includi ng data intabl es) relating to reserves and resources together with rel ated royalty equivalent unit calculations are forwar d looking statements, as they invol ve i mplied assessment, based on certainestimates and assumptions, and no assurance can be given that the estimates will be realized. Such for ward looki ng statements reflect management’s current beliefs and are based oninformation currentl y available to management. Often, but not al ways , for ward l ooking statements can be i dentified by the use of words such as “plans”, “expects”, “is expected”, “budget”,“scheduled”, “estimates”, “for ecasts”, “predicts”, “projects”, “intends”, “targets”, “ aims”, “anticipates” or “believes” or variati ons (includi ng negati ve variations) of such words and phr ases or maybe identified by statements to the effect that certain ac tions “may”, “could”, “should”, “would”, “might” or “ will” be taken, occur or be achieved. Forward looking statements invol ve known andunknown risks , uncertai nties and other factors, which may cause the actual results, perfor mance or achievements of Franco-Nevada to be materiall y different from any futur e results,perfor mance or achievements expressed or implied by the for ward looking statements. A number of factors could cause actual events or results to differ materially from any forward lookingstatement, incl uding, without limitation, fluctuations in the prices of the primar ycommodities that dri ve royalty and s tream revenue (gold, plati num group metals, copper, nickel, uranium, sil ver,iron-ore and oil & gas), fluctuati ons i n the value of the Canadian and Australian dollar, Mexican peso, and anyother currency in which revenue is generated, relative to the US dollar, changesin national and l ocal government l egislation, including permitti ng and licensing regimes and taxation policies, regul ations and political or economic developments i n any of the countries whereproperties in which Franco-Nevada holds a royalty, stream or other interest are located or thr ough which they are held, risks related to the operators of the properties i n which Franco-Nevadaholds a royalty, s tream or other interest, including changes in the ownershi p and control of such operators, infl uence of macroeconomic developments , business opportunities that becomeavailable to, or are pursued by Franco-Nevada, reduced access to debt and equity capital, litigation, title, permit or license disputes related to interests on any of the properties i n whichFranco-Nevada holds a royalty, stream or other interest, whether or not the Company is determined to have PFIC s tatus, excessi ve cost escal ation as well as devel opment, permitti ng,infrastructure, operati ng or technical difficulti es on any of the properties in which Franco-Nevada holds a royalty, stream or other interes t, rate and timing of producti on differences fromresource estimates, risks and hazar ds associated with the business of development and mining on any of the properties in which Franco-Nevada holds a royalty, stream or other interest,including, but not limited to unusual or unexpected geological and metallurgical conditi ons, slope failures or cave-ins, flooding and other natural disasters or civil unr est, and the i ntegration ofacquired assets. T he for ward looki ng statements contained in this presentation are based upon assumptions management believes to be reasonabl e, incl uding, without limitati on, the ongoingoperation of the properties in which Franco-Nevada holds a royalty, str eam or other interest by the owners or operators of such properties i n a manner consistent with past practice, theaccuracy of public statements and disclosures made by the owners or operators of such underlying properties, no material adverse change i n the market price of the commoditi es that underliethe asset portfolio, the Company’s ongoing income and assets rel ating to deter mination of its PF IC status, no adverse devel opment in respec t of any significant property in which Franco-Nevada holds a royalty, stream or other interes t, accuracy of publicl y disclosed expec tati ons for the development of underlying properties that are not yet in pr oduction, integration of acquiredassets and the absence of any other factors that could cause ac tions , events or results to dif fer from those anticipated, esti mated or intended. H owever, there can be no assur ance thatforward looking statements will prove to be accurate, as actual results and future events coul d dif fer materially from those anticipated in such statements and readers are cautioned thatforward looking statements are not guarantees of future performance. Franco-Nevada cannot assure investors that ac tual results will be consistent with these forward looking statements.Accordingl y, readers should not place undue r eliance on forwar d looking s tatements due to the inherent uncertai nty therein. For additional information with respect to risks, uncertai nties andassumpti ons, please refer to the “Risk F actors” section of our AIF, as well as Franco-Nevada’s most recent Management’s Discussi on and Anal ysis filed with the Canadian securitiesregulator y authorities on www.sedar.com and contai ned i n Franco-Nevada’s For m 40-F filed with the SEC on www.sec.gov. The forward looki ng statements herein ar e made as of the datesset out in this presentati on onl y and Franco-Nevada does not assume any obligation to update or revise them to reflect new information, estimates or opinions, futur e events or results orotherwise, except as required by applicable law.

Non-IFRS MeasuresAdjusted N et Income, Adj usted EBITDA and Margin are i ntended to pr ovide additional information only and do not have any s tandardized meaning under Inter nati onal Financi al ReportingStandards (“IFRS”) and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. T hese measures are not necessarilyindicati ve of oper ating profit or cash flow from operations as deter mined under IFRS. Other companies may calculate these measur es differentl y. F or a reconciliation of these measures tovarious IFRS measures , please see the end of this presentation or the Company’s MD&A disclosure found on the C ompany’s website and filed with Canadi an securities regulator y authoritieson SEDAR at www.sedar.com and with the Securities and Exchange Commission on EDGAR at www.sec.gov.

3FNV

A gold focused royalty & stream company

4FNV

GOLD ASSETS

Other

See our Annual Information Form filed on www.sedar.com on March 19, 2013 and 2013 Asset Handbook for further detail1 As at June 30, 2013

5FNV

Oil & Gas

Assets

1. As at October 22, 2013

6FNV

US21%

Canada33%Mexico

22%

Australia5%

Rest of World19%

Gold

67%

PGMs

10%

Other

23%

7FNV

One in three investors have chosen new gold investment options

8FNV

0%

40%

80%

120%

160%

200%

240%

280%

320%

360%

400%

2007 2008 2009 2010 2011 2012

FNV

GOLD

FNV IPO: Dec 2007

S&P/TSX Global Gold Index

FNV and S&P/TSX Global Gold Index converted to USD. C hart to October 17, 2013

9FNV

Gold ETF FNV Operators

0% 0%* 100%

0% 0%* 100%

1 >1 >1

0% 100% 100%

-0.4% >1.5% 0-4%

*Revenue royalties & streams

10FNV

Revenue Royalties

Streams

Profit Royalties

11FNV

Capital Resources (June 30, 2013) ($)

12FNV

14FNV

15FNV

16FNV

17FNV

18FNV* Including Gold Wheaton transactions acquired by Franco-Nevada

0

500

1,000

1,500

2,000U

S$

Mil

lio

ns

Franco-Nevada*

Other

19

FN

V

0

50

0

1,0

00

1,5

00

2,0

00

2,5

00

Sudbury: FNV

MWS: FNV

Campo Morado: SLW

Mineral Park: SLW

Keno Hill: SLW

Pascua-Lama: SLW

Palmarejo: FNV

Ezulwini: FNV

Aurizona: SSL

Mt. Milligan: RGLD

New Prosperity: FNV

Black Fox: SSL

Rosemont: SLW

Mt. Milligan: RGLD

Tulsequah Chief: RGLD

Cobre Panama: FNV

Mt. Milligan: RGLD

777 + Constancia: SLW

Colossus: SSL

Mutiny Gold: SSL

Salobo + Sudbury: SLW

US$ Millions

Go

ld

Silv

er

Mixe

d (G

old

, SIlv

er, P

GM

)

20

08

20

09

20

10

20

11

20

12

20

13

* G

old Wheaton transactions acquired by F

ranco-Nevada

* *

*

20FNV*Revenue royalties such as NSR’s. Profit royalties are a small part of FNV’s portfolio

21FNV

Royalty Gold Stream

22FNV

Existing Royalties

Mine FinancingExploration Financing

Purchase of Existing Royalties

Exploration or Land Financing

Mine Financing

23FNV

Financing Instrument

Cash Burden Dilution of Shareholder’s

interest

Retu

rn

Ris

k

24FNV

Versus Equity Versus Debt

25FNV

26FNV

27FNV

28FNV1 Adjustment after certain production thresholds are met – see our press release dated Aug 20, 2012 for additional detail

29FNV

Why Own a Gold ETF?

1 At October 22, 2013; FNV and S&P/TSX Global Gold Index converted to USD

0%

40%

80%

120%

160%

200%

240%

280%

320%

360%

400%

2007 2008 2009 2010 2011 2012

FNV

GOLD

FNV IPO: Dec 2007

S&P/TSX Global Gold Index

30FNV