1FNV

Forward-Looking StatementsThis presentation may contain certain information that may constitute “forward looking information” and “forward-looking statements” within the meaning of applicable Canadian securities lawsand United States Private Securities Litigation Reform Act 1995, respectively. Forward-looking statements may include, but are not limited to, statements with respect to future events or futureperformance, management’s expectations regarding Franco-Nevada’s growth, results of operations, estimated future revenues, requirements for additional capital, future demand for and pricesof commodities, expected mining sequences, business prospects and opportunities. Such forward looking statements reflect management’s current beliefs and are based on informationcurrently available to management. Often, but not always, forward looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”,“estimates”, “forecasts”, “predicts”, “projects”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identifiedby statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward looking statements involve known and unknown risks,uncertainties and other factors, which may cause the actual results, performance or achievements of Franco-Nevada to be materially different from any future results, performance orachievements expressed or implied by the forward looking statements. A number of factors could cause actual events or results to differ materially from any forward looking statement,including, without limitation: closing of announced acquisitions; fluctuations in the prices of the primary commodities that drive Franco-Nevada’s royalty and stream revenue (gold, platinumgroup metals, copper, nickel, uranium, silver and oil and gas); fluctuations in the value of the Canadian and Australian dollar, Mexican peso, and any other currency in which Franco-Nevadagenerates revenue, relative to the U.S. dollar; changes in national and local government legislation, including permitting and licensing regimes and taxation policies; regulations and political oreconomic developments in any of the countries where properties in which Franco-Nevada holds a royalty, stream or other interest are located; influence of macro-economic developments;business opportunities that become available to, or are pursued by Franco-Nevada; reduced access to debt and equity capital; litigation; title, permit or license disputes related to Franco-pp , p y ; q y p ; g ; , p pNevada’s interests or any of the properties in which Franco-Nevada holds a royalty, stream or other interest; excessive cost escalation as well as development, permitting, infrastructure,operating or technical difficulties on any of the properties in which Franco-Nevada holds a royalty, stream or other interest; rate and timing of production differences from resource estimates;risks and hazards 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 tounusual or unexpected geological and metallurgical conditions, slope failures or cave-ins, flooding and other natural disasters or civil unrest; and the integration of acquired assets. The forwardlooking statements contained in this presentation are based upon assumptions management believes to be reasonable, including, without limitation assumptions relating to: the closing ofannounced acquisitions, the ongoing operation of the properties in which Franco-Nevada holds a royalty, stream or other interest by the owners or operators of such properties in a mannerconsistent with past practice; the accuracy of public statements and disclosures made by the owners or operators of such underlying properties; no material adverse change in the market priceof the commodities that underlie the asset portfolio; closing of announced transactions; no adverse development in respect of any significant property in which Franco-Nevada holds a royaltyof the commodities that underlie the asset portfolio; closing of announced transactions; no adverse development in respect of any significant property in which Franco Nevada holds a royalty,stream or other interest; the accuracy of publicly disclosed expectations for the development of the underlying properties that are not yet in production; integration of acquired assets; and theabsence of any other factors that could cause actions, events or results to differ from those anticipated, estimated or intended. However, there can be no assurance that forward lookingstatements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned that forward-lookingstatements are not guarantees of future performance. Franco-Nevada cannot assure readers that actual results will be consistent with these forward looking statements. Accordingly, readersshould not place undue reliance on forward looking statements due to the inherent uncertainty therein. For additional information with respect to risks, uncertainties and assumptions, pleasealso refer to the “Risk Factors” section of our most recent Annual Information Form filed with the Canadian securities regulatory authorities on SEDAR at www.sedar.com, our most recent Form40-F filed with the U.S. Securities and Exchange Commission on EDGAR at www.sec.gov, as well as our most recent annual and interim MD&As. The forward looking statements herein aremade as of the date of this presentation only and Franco Nevada does not assume any obligation to update or revise them to reflect new information estimates or opinions future events ormade as of the date of this presentation only and Franco-Nevada does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events orresults or otherwise, except as required by applicable law.

Non-IFRS MeasuresAdjusted Net Income and Adjusted EBITDA are intended to provide additional information only and do not have any standardized meaning under International Financial Reporting Standards(“IFRS”) and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. These measures are not necessarily indicative ofoperating profit or cash flow from operations as determined under IFRS. Other companies may calculate these measures differently. For a reconciliation of these measures to various IFRS

l th d f thi t ti th C ’ t MD&A di l f d th C ’ b it d fil d ith C di iti l t th iti

2FNV

measures, please see the end of this presentation or the Company’s current MD&A disclosure found on the Company’s website and filed with Canadian securities regulatory authorities onSEDAR at www.sedar.com and with the Securities and Exchange Commission on EDGAR at www.sec.gov.

A gold focused royalty & stream company

3FNV

400%

320%

360%

400%

FNV

240%

280%

GOLD

160%

200%

GOLD

40%

80%

120%

FNV IPO: Dec 2007

S&P/TSX Global Gold Index

0%

40%

2007 2008 2009 2010 2011 2012

FNV and S&P/TSX Global Gold Index converted to USD. Chart to Feb 19, 2013

4FNV

Gold ETF FNV

-0 4% >1%-0.4% >1%

1 >1

0% 100%0% 100%

0% 0%*0% 0%*

0% 0%*

0% 0%*

5FNV

0% 0%

*Revenue royalties & streams

Mineral Assets

6FNV* As at February 11, 2013

GOLD ASSETS

OthOther

7FNV* See our Annual Information Form filed on Sedar on March 29, 2012 and 2012 Asset Handbook for further detail

US $ millions

(except per share and %)

IFRS MEASURES

Nine Months

2012

Nine Months

2011

Revenue $312.9 $292.7

Net Income $135.7 $98.6

Net Income Per Share $0.95 $0.80

KEY NON IFRS MEASURES

Gold Revenue $236.2 $211.7

Adjusted EBITDA1 $254.1 $233.1j

Adjusted EBITDA1 Per Share $1.78 $1.89

Adjusted Net Income2 $124.0 $94.3

Adjusted Net Income2 Per Share $0.87 $0.76

1 Adjusted EBITDA is defined by the Company as net income excluding income tax expense, finance income and costs, foreign exchange gains/losses and other income/expenses,gains/losses on the sale of investments income/losses from equity investees depletion and depreciation and impairment charges related to royalty stream and working interests and

Adjusted Net Income Per Share $0.87 $0.76

Margin (EBITDA/Revenue) 81% 80%

8FNV

gains/losses on the sale of investments, income/losses from equity investees, depletion and depreciation and impairment charges related to royalty, stream and working interests andinvestments. See Non-IFRS Measures and Reconciliation at the end of this presentation.

2 Adjusted Net Income is defined by the Company as net income excluding foreign exchange gains/losses and other income/expenses, gains/losses on the sale of investments, impairmentcharges related to royalties, streams, working interests and investments, unusual non-recurring items, and the impact of taxes on all these items. See Non-IFRS Measures and Reconciliationat the end of this presentation.

Australia4%

USOther15%

4%

PGMs

Other 9%

28%

Mexico22%Gold

15%

Canada31%

76%

9FNV

40

45

50

Base Metal

30

35

40

l ass

ets PGMs

Metal

20

25

ucin

g m

iner

a

Gold

5

10

15

# of

pro

du

0

5

2008 2009 2010 2011 2012

10FNV

11FNV

12FNV

13FNV*Based on Inmet Mining’s February 11, 2013 press release

2

14FNV1Cenovus Annual Information Form dated Feb 21, 20122Actual data from FNV Weyburn WI.  May not correlate exactly to NRI due to different applicable royalties and taxes

Weyburn Unit Plant

Capital Resources (Sept 30, 2012) ($ Millions)

15FNV

360%

400%

FNV

240%

280%

320%

160%

200%

240%GOLD

40%

80%

120%

FNV IPO: Dec 2007

S&P/TSX Global Gold Index

16FNV

0%2007 2008 2009 2010 2011 2012

FNV and S&P/TSX Global Gold Index converted to USD. Chart to Feb 19, 2013

17FNV

Category Asset Operator Royalty Startup1 Avg Projected Annual Prod1

New mines or restarts:

• Edikan• Garden Well (Duketon)• Canadian Malartic• Red October

• Perseus Mining• Regis Resources• Osisko Mining• Saracen

• 1.5% NSR• 2% NSR• 1.5% NSR*• 1.75% NSR

• Ramping up• Ramping up• Ramping up• Jun 2012

• 265,000 oz• 180,000 oz• 574,000 oz*• TBD

• Rosemont (Duketon)• Peculiar Knob• Detour• Falcondo• Cobre Panama

• Regis Resources• Arrium Limited• Detour Gold• Xstrata• Inmet Mining

• 2% NSR• Production payment• 2% NSR• 4.1% equity• ~86% Au Stream

• Sept 2013• 2013• Jan 2013• 2014• 2016

• 80,000 oz• 3.6 metric tonnes per year• 649,000 oz• 14,000 tpa• 87 Koz Au*, 1.5 Moz Ag*

Hurdle Reached1

Royalties reachinghurdlesor payout

• Subika• Musselwhite• Macassa• Hemlo

• Newmont Mining• Goldcorp• Kirkland Lake Gold• Barrick Gold

• 2% NSR*• 5% NPI• 20% NPI*• 50% NPI*

• Q3 2012• Q4 2011• Q4 2011• Q2 2012

• 550-590 oz*• 265,000 oz• 100,000 oz*• 25,000 oz*

Decision Expected1

Permitting projects:

• Perama Hill• Rosemont• New Prosperity

• Eldorado Gold• Augusta Resources• Taseko Mines

• 2% NSR• 1.5% NSR• 22% Au Stream

• 2013• 2013• 2013

• 110,000 oz• 220 Mlbs Cu, 4.7Mlbs Moly• 300,000 oz

Feasibility Expected 1

Feasibility stage: • Tasiast (expansion) • Kinross • 2% NSR • H1 2013 • TBDy g ( p )• Agi Dagi/Camyurt• Phoenix Gold• Gurupi• HBJ Superpit

• Alamos Gold• Rubicon Minerals• Jaguar Mining• Alacer Gold

• 2% NSR*• 1.5% NSR*• 1% NSR >$400/oz• 1.75% NSR*

• 2013• 2013• 2013• 2015

• 135,000 oz*• 180,000 oz*• 150,000 oz• TBD

18FNV* Certain royalties do not cover the entire resource or are rounded. See 2012 Annual Information Form for further details.1 Dates and average projected annual production based on operator guidance

250

300

oz)

Inf

M&I

P&P

Total Au Resource Growth*

180%

220%

0%

0%

e (%

)

Resource Growth per Share*

150

200

s &

Reso

urce

s (m

o P&P

100%

140%

0%

0%

grow

th p

er s

hare

0

50

100

Rese

rves

20%

60%

0%

0%

Res

ourc

e g

2007 2008 2009 2010 2011

Cautionary Note to US Investors Regarding Reserve and Resource Reporting StandardsThe disclosure in this presentation has been prepared in accordance with the requirements of Canadian securities laws, which differ from the requirements of United States securities laws. Disclosure, includingscientific or technical information, has been made in accordance with Canadian National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). NI 43-101 is a rule developed by the

2007 2008 2009 2010 2011

P&P M&I (incl. P&P) Total Resource (Incl. P&P, M&I and Inf )

Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. For example, the terms “measuredmineral resources”, “indicated mineral resources”, “inferred mineral resources”, “proven mineral reserves” and “probable mineral reserves” are used in this presentation and the documents referred to herein tocomply with the reporting standards in Canada. While those terms are recognized and required by Canadian regulations, the United States Securities and Exchange Commission (the “SEC”) does not recognizethem. Under United States standards, mineralization may not be classified as a “reserve” unless the determination has been made that the mineralization could be economically and legally produced or extracted atthe time the reserve determination is made. Investors are cautioned not to assume that all or any part of the mineral deposits in these categories will ever be converted into mineral reserves. These terms have agreat amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of measured mineral resources, indicated mineralresources, inferred mineral resources, proven mineral reserves or probable mineral reserves will ever be upgraded or mined. In accordance with Canadian rules, estimates of inferred mineral resources cannotform the basis of feasibility or other economic studies. Investors are cautioned not to assume that any part of the reported measured mineral resources, indicated mineral resources or inferred mineral resources in

19FNV* See Annual Information Form filed on Sedar March 29, 2012 for further details. Totals exclude Gold Quarry, New Prosperity and Cobre Panama.

o e bas s o eas b y o o e eco o c s ud es es o s a e cau o ed o o assu e a a y pa o e epo ed easu ed e a esou ces, d ca ed e a esou ces o e ed e a esou cesthis presentation is economically or legally mineable and will ever be classified as a reserve. In addition, the definitions of proven and probable mineral reserves used in NI 43-101 differ from the definitions in theSEC Industry Guide 7. Disclosure of “contained ounces” is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitutereserves as in place tonnage and grade without reference to unit measures. Accordingly, information contained in this presentation containing descriptions of the Company’s mineral properties may not becomparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements under the United States federal securities laws and the rules and regulations thereunder

350

400

450

Q4

$411 M

$313 MOTHER

250

300

enue

M

illio

ns)

Q3$227 M

$313 M

Q3

100

150

200 Rev

e(U

S$ M

Q2$151 M $156 M Q2

GOLD

-

50

100

2008 2009 2010 2011 2012

Q1 Q1

2008 2009 2010 2011 2012

20FNV

120

140 $871/oz $960/oz $1,227/oz $1,700/oz $1,655/oz

Avg Quarterly Gold price1

80 

100 

120 

ns)

20

40 

60 

(US$

 Million

‐20 

‐

20 

‐40 Q3/08 Q3/09 Q3/10 Q3/11 Q3/12

Revenue G&A Proceeds taxes + Oil & Gas costs Stream costs

21FNV1 Based on London PM Fix

(Expressed in mill ions except per share amounts) Sep 30, 2012 Sep 30, 2011 Sep 30, 2012 Sep 30, 2011

Net Income $52.0 $44.1 $135.7 $98.6Income tax expense 14.5 19.5 41.4 41.4

Three months ended Nine months ended

Finance costs 0.3 0.2 0.9 2.1Finance income (3.5) (1.3) (8.2) (2.9)Depletion and depreciation 31.2 34.7 93.9 97.4Foreign exchange (gains)/losses and other expenses (8.3) 1.2 (9.6) 6.7Loss from equity investee - - - 1.7Gain on investments - (6.2) - (11.9)

Adjusted EBITDA $86.2 $92.2 $254.1 $233.1

Basic Weighted Average Shares Outstanding 145.3 127.1 143.1 123.4Adjusted EBITDA per share $0.59 $0.73 $1.78 $1.89

Net Income $52.0 $44.1 $135.7 $98.6Foreign exchange (gain)/loss and other (income)/expenses, net of income tax (0.4) (0.6) 0.4 3.2Gain on acquisition of Gold Wheaton/sale of investments, net of income tax - (5.4) - (17.0)Mark-to-market changes on derivative (6.3) 1.7 (8.6) 2.1Loss from equity investee, net of income tax - - - 1.2Transaction costs of Gold Wheaton, net of income tax - - - 5.6Credit facility costs written off, net of income tax - - - 0.6Withholding taxes reversal - - (3.5) -

Adjusted Net Income $45.3 $39.8 $124.0 $94.3Adj t d N t I h

22FNV

Adjusted Net Income per share $0.31 $0.31 $0.87 $0.76

Management

Directors

23FNV(1) Member of the Audit and Risk Committee(2) Member of the Compensation and Corporate Governance Committee

Capital Structure (Q4 2012) Analyst Coverage

Major Shareholders

24FNV

(1) Warrants now of Franco-Nevada GLW Holdings Corp. that upon exercise will entitle the holder thereof, at its election, to receive either 0.1556 of a Franco-Nevada common share or C$5.20 in cash, per warrant. Former $10 GLW warrants each still exercisable at $10/warrant. To acquire one whole FNV share, approximately 6.43 warrants need to be exercised (i.e. $64.27/FNV share).

(2) Previous 52 weeks as of Feb 19, 2013(3) Based on current US$0.06 monthly divided(4) As of September 30, 2012