Rest of World Matilda (Wiluna) South Kalgoorlie Location: Australia Location: Australia ww Operator: Wiluna Mining Corporation Limited Operator: Northern Star Resources Limited vievie Precious Metals: Au Precious Metals: Au erer Royalty: NSR: 3.6% Royalty: NSR: 1-4% vv OO Franco-Nevada holds a 3.6% NSR royalty on all gold Northern Star Resources Limited (“Northern Star”) production from the Matilda/Wiluna Gold Project operates the South Kalgoorlie Operation (“SKO”) which located in Western Australia, covering all of the has been producing gold since 1989. 2 1,150 km property. SKO is located 15 km south of Kalgoorlie in Western Australia. Franco- Wiluna was discovered in 1896 and has produced in excess of 4.0 million Nevada holds a 1.75-4% NSR royalty for gold and a 1-2.25% NSR royalty ounces of gold to date, with nearly continuous production from 1987 for other minerals which covers 470 km2 of the SKO tenements including to 2013. Wiluna Mining Corporation Limited (“WMC”) acquired the the HBJ underground mine and the Mt Marion and Pernatty satellite Wiluna Gold Operation in 2014 and resumed mining operations in deposits, along with the 1.2 Mtpa Jubilee Mill. Effective January 1, 2023 etals 2016. Wiluna has a 2.1 Mtpa CIL treatment plant and processes ore from the royalty agreement was amended to increase the royalty rate on several open-pit and underground deposits. Total production for 2022 the northern and central sections of the HBJ underground mine from was 67,989 ounces of gold. In December 2021, WMC commissioned a 1.75% to 4%. Northern Star combines SKO with the Kalgoorlie, Carosue ecious M 750,000 tpa Sulphide Ore Concentrate Plant which was built at a cost of Dam and Kanowna Belle gold mines, and reported total production of r 847,372 ounces of gold at the combined Kalgoorlie Production Centre for P A$26 million. WMC went into Voluntary Administration on July 20, 2022. Mining operations ceased on December 14, 2022. Processing low-grade the year ended December 31, 2022. Northern Star placed the Jubilee mill stockpiles continued until February 2023. WMC plans to reprocess tailings on care and maintenance in July 2022, with ore feed directed to Kanowna for approximately 12-18 months. Franco-Nevada received $0.2 million of Belle and Kalgoorlie. Franco-Nevada estimates that the royalty production royalty revenue from Matilda/Wiluna in 2022. accounts for approximately 7% of total combined Kalgoorlie Production Centre production. Franco-Nevada received $2.4 million of royalty For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral revenue from SKO in 2022. Reserves are subject to our royalty interest and estimates a rate of 3.6% is applicable For Royalty Ounce calculation, Franco-Nevada estimates 75% of Mineral Resources and 82% of Mineral Reserves are subject to our royalty interest and estimates a rate of 1.75% is applicable Kiziltepe Location: Türkiye Production guidance for 2023 is expected to be approximately 18,000 Operator: Zenit Madencilik San. ve Tic. A.S. ounces of gold. Open-pit mining during 2023 will continue largely at Precious Metals: Au & Ag the Arzu North, Derya and Banu pits. Ariana Resources has previously Royalty: NSR: 2.5% estimated average production of 20,000 ounces of gold equivalent per year over an 8-year mine life with potential to increase to at least 10 years including satellite deposits. Production at Kiziltepe is expected to Franco-Nevada has a 2.5% NSR on the Kiziltepe gold-silver be lower in 2023, due to lower-grade ore and a reduced ore throughput mine located in Türkiye which started production in rate to the mill of approximately 350,000 tonnes per annum. Extensive April 2017. near-mine exploration is underway, with positive results received across various vein systems covered by Franco-Nevada’s royalty. In 2023, recent Kiziltepe is operated by Zenit Madencilik San. ve Tic. A.S., a JV owned by geophysics will be fully assessed to determine the drilling required to Özaltin Holding A.S. (53%), Ariana Resources PLC (“Ariana Resources”) adequately test these newly identified targets. (23.5%) and Proccea Construction Co. (23.5%). Kiziltepe produced 28,421 For Royalty Ounce calculation, Franco-Nevada estimates 100% of the Mineral Resources and Mineral ounces of gold in 2022 compared with 20,737 ounces of gold in 2021. Reserves are subject to our royalty interest and estimates a rate of 2.5% is applicable. Kiziltepe, Türkiye 80 Franco-Nevada Corporation TSX / NYSE: FNV