60 TSX / NYSE: FNV Franco-Nevada Corporation Canada Overview Overview Precious Metals Dublin Gulch (Eagle) Location: Yukon, Canada Operator: Victoria Gold Corp. Precious Metals: Au Royalty: NSR: 1-1.5% Eagle Royalty 1% gross return royalty Lynx Royalty 1.5% NSR (capped) A B Dublin Gulch (Eagle Deposit) Yukon Northwest Territories Alaska British Columbia B Dublin Gulch (Eagle Deposit) Royalty Area Nugget-Raven Whiskey Wrinkles Eagle Extension Wolf-Tungsten Catto Olive- Shamrock Popeye Eagle West Rex Peso Bluto Eagle Mine Access Road Lynx Mar Zone Property Len Zone Property Eagle Gold Mine km 0 2.5 A DG Claims boundary incorporated into the 2023 technical report include year-round stacking on the heap leach facility, stockpiling of lower grade material for end of mine life processing, and utilization of a mobile crusher to supplement and increase production rates. Franco-Nevada’s royalty is estimated to cover the entire Eagle deposit which contains Mineral Reserves of 2.41 million ounces (118 million tonnes grading 0.64 g/t) and a small portion of the satellite Olive deposit which contains Mineral Reserves of 0.18 million ounces (7 million tonnes grading 0.84 g/t). Mineralization at Eagle has been drill tested to a depth of 850m and remains open at depth. Victoria Gold continues to explore the broader land package targeting Lynx (on royalty ground) as well as Raven (not on royalty ground). In January 2023, Victoria Gold announced results from the 2022 exploration program on Lynx, with encouraging results on Franco-Nevada’s royalty ground. Updated technical report with 12-year mine plan Exploration potential both near-mine and across the broader land package 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ 2.6 $ 3.1 $ 1.9 M&I Resource (koz Au) 1 4,304 4,397 4,397 Inferred Resource (koz Au) 1 497 361 361 P&P Reserves (koz Au) 1 2,407 3,061 3,061 M&I Royalty Ounces (000s) 1, 2 43 44 44 Inferred Royalty Ounces (000s) 2 5 4 4 P&P Royalty Ounces (000s) 2 24 31 31 1 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 For Royalty Ounce calculation, Franco-Nevada estimates 100% of the Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates a rate of 1.0% is applicable Franco-Nevada has a 1% NSR on the Eagle Gold mine which is owned and operated by Victoria Gold Corp. (“Victoria Gold”). The Eagle deposit is part of the larger Dublin Gulch claim block and is located in central Yukon. In addition, Franco-Nevada has a 1.5% NSR on the Lynx properties (part of the Dublin Gulch claim) which is subject to a C$15,000 annual advance royalty payment and is capped at C$1,500,000. In July 2020, the Eagle Gold mine achieved commercial production. In 2022, the operation produced 150,182 ounces of gold compared with 164,222 ounces of gold in 2021. Gold production for 2023 is estimated to be between 160,000 and 180,000 ounces. In February 2023, Victoria Gold announced an updated technical report for the Eagle Gold mine envisioning total gold production of two million ounces over a mine life of 12 years starting in 2023. Production will average 202,000 ounces of gold per year over the first eight years, with peak production of 219,000 gold ounces in 2025. Optimizations Dublin Gulch (Eagle), Yukon