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Franco-Nevada Declares Quarterly Dividend and Provides Details for Upcoming Release of 2017 Results

Corporate Actions

NEWS RELEASE

Toronto, February 8, 2018

Franco-Nevada Declares Quarterly Dividend and Provides Details for

Upcoming Release of 2017 Results

Franco-Nevada Corporation is pleased to announce that its Board of Directors has declared a quarterly dividend of US$0.23 per

share. The dividend will be paid on March 29, 2018 to shareholders of record on March 15, 2018 (the “Record Date”). The Canadian

dollar equivalent is to be determined bas ed on the daily average rate posted by the Bank of Canada on the Record Date. Under

Canadian tax legislation, Canadian resident individuals who receive “eligible dividends” are entitled to an enhanced gross -up and

dividend tax credit on such dividends.

The Company has a Dividend Reinvestment Plan (“DRIP”). Participation in the DRIP is optional. The Company will issue additional

common shares through treasury at a 3% discount to the Average Market Price, as defined in the DRIP. However, the Company may,

from time to time, in its discretion, change or eliminate the discount applicable to treasury acquisitions or direct that such common

shares be purchased in market acquisitions at the prevailing market price, any of which would be publicly announced. The DRIP

and enrollment forms are available on the Company’s website at www.franco-nevada.com. Registered shareholders may also enroll

in the DRIP online through the plan agent’s self -service web portal at www.investorcentre.com/franco-nevada. Beneficial

shareholders should contact their financial intermediary to arrange enrollment.

Details for Upcoming Release of 2017 Results

2017 Results Release: March 7th after market close

Conference Call and Webcast: March 8th 10:00 am ET

Dial-in Numbers: Toll-Free: 1-888-231-8191

International: 647-427-7450

Webcast: www.franco-nevada.com

Replay (available until March 15th): Toronto: 416-849-0833

Toll-Free: 1-855-859-2056

Pass code: 9393915

For more information, please go to our website at www.franco-nevada.com or contact:

Stefan Axell

Director, Corporate Affairs

416-306-6328

[email protected]

This press release is not an offer to sell or a solicitation of an offer of securities. A registration statement relating to the DRIP has

been filed with the U.S. Securities and Exchange Commission and may be obtained under the Company’s profile on the U.S .

Securities and Exchange Commission’s website at www.sec.gov.