Exhibit 99.3 Years Since IPO 2023 Second Quarter Financial Statements For the three and six months ended June 30, 2023 Franco-Nevada Corporation Condensed Consolidated Statements of Financial Position (unaudited, in millions of U.S. dollars) | | | | | At | | --- | --- | --- | --- | --- | | | | At June 30, 2023 | | December 31, 2022 | | ASSETS | | | | | | Cash and cash equivalents (Note 4) | $ | 1,295.1 | $ | 1,196.5 | | Receivables | | 144.4 | | 135.7 | | Gold bullion, prepaid expenses and other current ass ...

Franco-Nevada Corp (NYSE:FNV) Q1 2023 Earnings Conference Call May 3, 2023 10:00 AM ET Company Participants Candida Hayden - IR Contact Paul Brink - President, CEO & Director Sandip Rana - CFO Eaun Gray - SVP, Business Development Jason O’Connell - SVP, Diversified Conference Call Participants Cosmos Chiu - CIBC Heiko Ihle - H.C. Wainwright & Co. Greg Barnes - TD Securities Martin Pradier - Veritas Tanya Jakusconek - Scotiabank Ralph Profiti - Eight Capital John Tumazos - John Tumazos Research Brian MacArth ...

Financial Performance - Revenue for Q1 2023 was $276.3 million, a decrease of 18.4% compared to $338.8 million in Q1 2022[16] - Adjusted EBITDA for Q1 2023 was $229.4 million, a decline of 19.9% from $286.6 million in Q1 2022[16] - Basic earnings per share for Q1 2023 were $0.82, compared to $0.95 in Q1 2022, reflecting a decrease of 13.7%[16] - Franco-Nevada's Q1 2023 revenue was $276.3 million, a decrease of 18.4% compared to the previous year[27] - Adjusted EBITDA for Q1 2023 was $229.4 million, down 20.0% from the same quarter in 2022, with an Adjusted EBITDA Margin of 83.0%[27] - Net income for Q1 2023 was $156.5 million, or $0.82 per share, down from $182.0 million, or $0.95 per share, in Q1 2022[60] - Adjusted Net Income for Q1 2023 was $152.2 million, or $0.79 per share, compared to $177.2 million, or $0.93 per share, in Q1 2022[60] - Revenue for Q1 2023 was $276.3 million, a decrease from $320.4 million in Q4 2022, reflecting a decline of approximately 13.8%[67] - Operating income in Q1 2023 was $172.1 million, down from $188.9 million in Q4 2022, representing a decrease of about 8.9%[67] - Net income for Q1 2023 was $156.5 million, compared to $165.0 million in Q4 2022, indicating a decline of approximately 3.0%[67] Sales and Production - GEOs sold in Q1 2023 totaled 145,331, down 18.6% from 178,614 in Q1 2022[16] - The company sold 145,331 Gold Equivalent Ounces (GEOs) in Q1 2023, a decrease of 33,283 GEOs compared to 178,614 GEOs in Q1 2022[49] - Precious Metals contributed 76.8% of total revenue in Q1 2023, an increase from 71.6% in Q1 2022[52] - The company expects total GEO sales for 2023 to be between 640,000 and 700,000, with Q1 2023 actual sales at 145,331 GEOs[37] - Cobre Panama contributed 28,663 GEOs in Q1 2023, slightly down from 29,495 GEOs in Q1 2022, due to operational curtailments[56] Cash and Investments - Cash and cash equivalents as of March 31, 2023, were $1,248.4 million, an increase from $1,196.5 million at the end of 2022[16] - The company has remaining funding commitments of $159.3 million related to the Tocantinzinho Stream, with $90.7 million funded in Q1 2023[24] - Franco-Nevada's cumulative investment in the Royalty Acquisition Venture with Continental Resources, Inc. reached $443.0 million, with remaining commitments of up to $77.0 million[26] - Net cash provided by operating activities was $209.8 million in Q1 2023, down from $230.6 million in Q1 2022, a decrease of about 9.0%[78] - Net cash used in investing activities was $102.6 million in Q1 2023, significantly higher than $1.6 million in Q1 2022, primarily due to funding of the Tocantinzinho Stream deposit[79] Costs and Expenses - Total costs of sales decreased to $38.2 million in Q1 2023 from $43.6 million in Q1 2022, reflecting a decrease in GEOs[58] - Depletion and depreciation expense was $61.0 million in Q1 2023, down from $74.6 million in Q1 2022, due to a decrease in GEOs[59] - General and administrative expenses increased to $6.2 million in Q1 2023 from $5.6 million in Q1 2022, representing 3.4% of revenue, up from 2.9%[62] - Franco-Nevada's total costs of sales for Q1 2023 were $99.2 million, down from $118.2 million in Q1 2022, resulting in Cash Costs of $38.2 million compared to $43.6 million in the prior year[145] - The number of GEOs sold in Q1 2023 was 145,331, with Cash Costs per GEO sold increasing to $263 from $244 in Q1 2022[145] Market Conditions - The average gold price in Q1 2023 was $1,889 per ounce, slightly up from $1,874 per ounce in Q1 2022[16] - Gold prices averaged $1,889/oz in Q1 2023, relatively consistent with $1,874/oz in Q1 2022, while silver prices decreased by 6.0% year-over-year[43] - The average price of silver decreased by 6.0% to $22.56 per ounce in Q1 2023 from $24.00 per ounce in Q1 2022[47] Tax and Regulatory Matters - The company reached a settlement with the Canada Revenue Agency regarding tax reassessments, vacating potential tax exposure of $19.6 million (C$26.5 million)[106] - The Company reached a settlement with the CRA regarding Canadian Domestic Tax Matters for 2014-2017, resulting in a tax adjustment of $14.6 million (C$19.9 million) and penalties of $5.0 million (C$6.6 million) being vacated[110][111] - The Company has filed formal Notices of Objection with the CRA against various reassessments and has commenced appeals in the Tax Court of Canada[114][120] - The ongoing CRA audit may lead to further challenges, potentially resulting in additional income taxes, penalties, and interest[127] Future Outlook - Franco-Nevada anticipates stronger deliveries in Q2 2023 as operations at Cobre Panama and Antapaccay have returned to full production levels[36] - Management is currently evaluating the implications of the Pillar Two proposals and will assess the impact once Canadian draft legislation is released[132] - The company believes current cash resources and available credit will cover commitments and expenses for the foreseeable future[85] - Management warns that actual results may differ materially from forward-looking statements due to various known and unknown risks[153] - Investors are cautioned against placing undue reliance on forward-looking statements due to inherent uncertainties[154]

Financial Data and Key Metrics Changes - Franco-Nevada reported record financial results for 2022, with total revenue of $1.31 billion and adjusted EBITDA of $1.1 billion, both records for the company [19][20] - In Q4 2022, the company generated $320.4 million in revenue and $262.4 million in adjusted EBITDA, achieving an EBITDA margin of 81.9% [19][20] - The cash cost per GEO was $242, slightly down from $245 in 2021, indicating stable cost management [22] Business Line Data and Key Metrics Changes - Total GEOs sold for 2022 reached 729,960, at the high end of the guidance range, but precious metal GEOs were at the lower end with just over 510,000 sold [15][24] - Diversified assets performed strongly, driven by higher energy prices, contributing 219,575 total diversified GEOs [15][19] - Precious metal GEOs in Q4 2022 were 129,642, down 6.6% from the previous year, primarily due to lower contributions from Cobre Panama, Antapaccay, and Guadalupe [16][18] Market Data and Key Metrics Changes - Precious metal prices were lower for both the quarter and the year, impacting the conversion of metals to GEOs, while energy prices reached multi-year highs [18][19] - The average West Texas Intermediate oil price was $82.65 per barrel in Q4, with natural gas prices averaging over $6 per Mcf [19] Company Strategy and Development Direction - The company aims for ongoing growth through mine expansions and new mines, with significant contributions expected from Tocantinzinho, Vale’s Southeastern Iron Ore Systems, and Hardrock in Ontario [9][10] - Franco-Nevada is focusing on precious metal assets, despite exploring opportunities in energy and other commodities [35][70] - The company has no debt and $2.2 billion in available capital, positioning it well for continued growth in uncertain markets [11][28] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the long-term outlook driven by the global push for electrification and the potential for new gold mines [10] - The company anticipates a lower total GEOs sold in 2023, with guidance of 640,000 to 700,000 GEOs, primarily due to expected lower contributions from Cobre Panama and other assets [24][25] - Management remains confident in the resilience of their business model, emphasizing the importance of diversifying assets to mitigate risks [55][70] Other Important Information - The company announced a 6% increase in its quarterly dividend to $0.34 per share, marking the 16th consecutive annual dividend increase [6] - The renegotiation of the Cobre Panama concession contract was successfully concluded, alleviating concerns about production disruptions [7] Q&A Session Summary Question: Can you provide insights on Cobre Panama's production shifts? - Management indicated that First Quantum has not adjusted their guidance despite a temporary shutdown, expecting to make up for lost production in Q1 and subsequent quarters [32] Question: Is management focusing more on non-gold or energy acquisitions? - Management clarified that the primary focus remains on precious metal assets, with ongoing interest in providing capital to the gold mining industry [35] Question: When is the Southeastern system expected to start contributing? - The expectation is for contributions from Vale's Southeastern system towards the end of 2024, pending production thresholds [40] Question: What is the size range of deals being pursued? - The pipeline includes medium-sized deals, primarily under $400 million, with a mix of primary gold and byproduct financing opportunities [43] Question: How does the company view operator concentration risk? - Management acknowledged the importance of diversification but expressed willingness to invest in significant assets like Cobre Panama if opportunities arise [55][56]

Exhibit 99.3 Years Since IPO 2022 Financial Statements Management's Report On Internal Control Over Financial Reporting Franco-Nevada Corporation's ("Franco-Nevada") management is responsible for establishing and maintaining adequate internal control over financial reporting, as defined in rules 13a-15(f) and 15d-15(f) under the United States Securities Exchange Act of 1934, as amended. Franco-Nevada's management, with the participation of its President & Chief Executive Officer and its Chief Financial Offi ...

CORPORATE PRESENTATION ＤＥＣＥＭＢＥＲ ２０２２ Franco ✈ Nevada FNV: TSX | NYSE ＣＡＵＴＩＯＮＡＲＹ ＳＴＡＴＥＭＥＮＴ Forward Looking Statements This presentains cortains "thered bothing informaister" and "flowerd bebling statements" with the mearing of applicable Caracters were stecutiles thatts Station to More ne statements with negaet to future events or future gencionnance, mayagenerits expactions respections, estable prowdy, estableded istour evenuse, performance policing, speri ninaral reserve and minaral nessure editivales, pro ...

Franco-Nevada Corp (NYSE:FNV) Q3 2022 Earnings Conference Call November 7, 2022 10:00 AM ET Company Participants Bonavie Tek - VP, Finance Paul Brink - President, CEO & Director Sandip Rana - CFO Eaun Gray - SVP, Business Development Conference Call Participants Heiko Ihle - H.C. Wainwright John Tumazos - John Tumazos Very Independent Research Tanya Jakusconek - Scotiabank Operator Good morning, ladies and gentlemen, and welcome to the Franco-Nevada Corporation's Third Quarter 2022 Results Conference Call a ...

Exhibit 99.2 Management's Discussion and Analysis This Management's Discussion and Analysis ("MD&A") of financial position and results of operations of Franco-Nevada Corporation ("Franco-Nevada", the "Company", "we" or "our") has been prepared based upon information available to Franco- Nevada as at November 6, 2022 and should be read in conjunction with Franco-Nevada's unaudited condensed consolidated financial statements and related notes as at and for the three and nine months ended September 30, 2022 an ...

CORPORATE PRESENTATION ＡＵＧＵＳＴ ２０２２ Franco ✈ Nevada FNV: TSX | NYSE CAUTIONARY STATEMENT Forward Looking Statements This presentation contains "forward looking information" and "forward looking statements" within the meaning of applicable Canadian securities laws and the United States Private Securities Litigation Reform Act of 1995, respectively, which may include, but are not limited to, statements with respect to future events or future performance, management's expectations regarding Franco-Nevada's grow ...

Financial Data and Key Metrics Changes - The company reported record financial results for Q2 2022, with revenues of $352.3 million and adjusted EBITDA of $301.2 million, both representing year-over-year increases [22][24][27] - Adjusted net income was $195.8 million, a 7% increase compared to the previous year, with adjusted net income per share at $1.2, a 6% increase [27][28] - The adjusted EBITDA margin was 85.5%, reflecting the high-margin nature of the business [22][24] Business Line Data and Key Metrics Changes - Gold and gold equivalent ounces (GEOs) sold in Q2 2022 were 191,052, slightly down from 192,379 in Q2 2021 [16][17] - Energy assets saw a doubling of GEOs year-over-year due to higher energy prices, with revenue from energy assets increasing from $47.3 million to $91.5 million [21][23] - The company maintained its guidance for total GEOs sold in 2022 at 680,000 to 740,000, with precious metal GEOs estimated at 510,000 to 550,000 [36][37] Market Data and Key Metrics Changes - Approximately 70% of Q2 2022 revenue was generated from precious metals, with 91% of revenue sourced from the Americas [29] - Cobre Panama was the largest revenue generator, contributing 18% of total revenue for the quarter [29] Company Strategy and Development Direction - The company is focused on growing its portfolio by adding more precious metal assets and is seeing a good pipeline of opportunities [14][102] - Franco-Nevada aims to maintain a high proportion of revenue from precious metals, targeting to generate less than 20% of revenue from energy assets [101][102] - The company is exploring partnerships with developers and is open to adding exposure in regions like Argentina, which has strong geological potential [71][102] Management's Comments on Operating Environment and Future Outlook - Management highlighted the low-risk nature of the business in the current inflationary environment and expressed confidence in the company's ability to generate cash flow with no debt [6][14] - The company is optimistic about the future, expecting contributions from new mines and expansions in existing operations [12][14] Other Important Information - Franco-Nevada was named one of the Best 50 Corporate Citizens in Canada by Corporate Knights in 2022 [13] - The company committed $1 million to environmental and community support programs as part of the Tocantinzinho transaction [13][41] Q&A Session Summary Question: Impact of Stillwater flood on Q3 - Management indicated that the flood at Stillwater would likely result in a reduction of approximately 2,000 GEOs if operations restart in Q3 [43] Question: Energy market outlook - Management discussed the resilience of oil prices, noting that while prices have recently pulled back, they expect continued strength in the market [46][49] Question: M&A environment and deal sizes - Management acknowledged increased competition in the industry and emphasized the importance of selecting quality assets while being flexible in financing structures [52][80] Question: Geopolitical risks in South America - Management is monitoring political changes in South America but remains committed to maintaining a diversified portfolio [62][64] Question: Future precious metal opportunities - Management noted a focus on primary precious metal opportunities, reflecting current market conditions [66] Question: Hemlo's contribution in upcoming quarters - Management forecasted Hemlo's contribution to be approximately CAD 5 million to CAD 6 million per quarter for the next two quarters [73] Question: Appetite for Argentine exposure - Management expressed openness to adding exposure in Argentina, citing the country's strong geological potential [71]