Rest of World Aphrodite Séguéla Location: Australia Location: Côte d’Ivoire ww Operator: St Barbara Limited Operator: Fortuna Silver Mines Inc. vievie Precious Metals: Au Precious Metals: Au erer Royalty: GR: 2.5% Royalty: NSR: 1.2% vv OO Aphrodite Gold project is located in Western Australia, In March 2021, Franco-Nevada acquired a 1.2% NSR 65 km northwest of Kalgoorlie. Franco-Nevada’s 2.5% from Roxgold Inc. (“Roxgold”) on the license covering its 2 gross royalty covers a 29 km area and all Aphrodite Séguéla open-pit gold project located in Côte d’Ivoire. Mineral Resources. The royalty is subject to a buy-back of up to 50% for a period of time. In An advance minimum royalty of A$250,000 per annum applies from July 2021, Fortuna Silver Mines Inc. (“Fortuna”) acquired Roxgold Inc. November 1, 2017 onward. St Barbara Limited (“St Barbara”) acquired Roxgold completed a preliminary economic assessment in April 2020 Bardoc Gold Limited for A$157 million in April 2022, and took control and, in May 2021, released the results of a feasibility study that outlined of the Bardoc Gold Project. Aphrodite is the largest of the five deposits a 9-year open-pit mine producing an average of 120,000 ounces of gold etals at Bardoc. Also in April 2022, St Barbara announced plans to develop per year. In September 2021, Fortuna announced a positive construction Aphrodite in conjunction with an expansion of the Leonora Processing decision for Séguéla, with first gold pour projected by mid-2023. Plant, located 180 km north by rail, increasing throughput from 1.4 Mtpa Fortuna also indicated 130,000 ounces of gold production annually ecious M to 2.1 Mtpa and allowing treatment of Aphrodite’s refractory ore. In r for the first six years of production. As of February 2023, construction P October 2022, St Barbara decided to defer major capital expenditures for at least one year, including the expansion and refractory ore circuit at the activities are progressing on time and on budget with the overall Leonora Processing Plant and construction of the Aphrodite mine. project approximately 90% complete, with commissioning remaining on schedule for Q2 2023. In March 2022, Fortuna announced a maiden For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral Inferred Mineral Resource estimate for the Sunbird discovery. Fortuna Reserves are subject to our royalty interest and estimates a rate of 2.5% is applicable has stated that the focus at Sunbird is currently on upgrading its resource confidence with the ultimate intention of conversion to mineral reserves, expanding reserves at Séguéla and increasing the 9-year life-of-mine. In 2023, Fortuna plans to continue exploring the land package with an active exploration program to generate and test near-mine targets. For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates a rate of 1.2% is applicable Perama Hill Location: Greece The Perama Hill gold project is located in the Thrace region of Operator: Eldorado Gold Corporation northeastern Greece and consists of two mining titles covering an area Precious Metals: Au 2 of 19 km and two mining exploration licenses covering an area of Royalty: NSR: 2% 18 km2. Eldorado has been challenged in getting the needed approvals to advance its activities in Greece. Perama Hill has an estimated Mineral Reserve of 1,250,000 ounces (12.5 million tonnes grading 3.11 g/t) and Franco-Nevada has a 2% NSR on the Perama Hill project contemplates operating as a small open-pit mine using a conventional held by Eldorado Gold Corporation (“Eldorado”). carbon-in-leach gold recovery circuit. Project optimization and studies are ongoing to prepare permitting documentation. For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates a rate of 2.0% is applicable 82 Franco-Nevada Corporation TSX / NYSE: FNV