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 8, 2023 and should be read in conjunction with Franco-Nevada's unaudited condensed consolidated interim financial statements and related notes as at and for the three and nine months ended September 30, ...

Franco-Nevada Corp (NYSE:FNV) Q2 2023 Earnings Conference Call August 9, 2023 10:00 AM ET Company Participants Candida Hayden - IR Contact Paul Brink - President, CEO & Director Sandip Rana - CFO Conference Call Participants Fahad Tariq - Credit Suisse Josh Wolfson - RBC Capital Markets Heiko Ihle - H.C. Wainright Cosmos Chiu - CIBC Martin Pradier - Veritas Investment Research Tanya Jakusconek - Scotiabank Brian MacArthur - Raymond James Operator Good morning, and welcome to Franco-Nevada Corporation's Seco ...

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]

Franco-Nevada Corporation (NYSE:FNV) Q4 2022 Earnings Conference Call March 16, 2023 10:00 AM ET Company Participants Candida Hayden - Investor Relations Paul Brink - President and Chief Executive Officer Sandip Rana - Chief Financial Officer Eaun Gray - Senior Vice President, Business Development Conference Call Participants Heiko Ihle - H.C. Wainwright Erin Kyle - CIBC Greg Barnes - TD Securities John Tamazos - Private Investor Lawson Winder - Bank of America Securities Tanya Jakusconek - Scotiabank Opera ...

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 ...