Canada Golden Highway Location: Ontario, Canada to integrate a number of satellite deposits with the existing infrastructure ww Operator: Agnico Eagle Mines Limited in the region which may displace production from royalty ground in the vievie Precious Metals: Au short to medium term. erer Royalty: NSR: 0.25-10% vv OO Franco-Nevada has royalties on the following key properties in the trend: 2022 2021 2020 Holt: The Holt mine has been the main producing asset in recent years and includes the Holt mill complex. Franco-Nevada has a sliding scale NSR Revenue to Franco-Nevada ($ million) $ – $ 0.1 $ 3.0 royalty beginning at 2% when the gold price is less than or equal to $500/ M&I Resource (koz Au)1 2,978 2,978 1,872 ounce and increasing in 1% increments for each $100/ounce increase in Inferred Resource (koz Au)1 1,421 1,421 1,407 the gold price, to a maximum of 10%. The Holt mine was built in the late P&P Reserves (koz Au)1 – – – 1980s by Barrick. 1, 2 M&I Royalty Ounces (000s) 160 160 138 Taylor: The Taylor mine (1% NSR) achieved commercial production in 2 Inferred Royalty Ounces (000s) 90 90 90 November 2015. Exploration potential at Taylor exists along strike and at 2 P&P Royalty Ounces (000s) – – – depth of current Mineral Resources. etals 1 Please refer to the tables on pages 116-120 for a breakout of grade and tonnages by Mineral Holloway: The Holloway mine is located immediately north of the Holt Resource category; all M&I categories are inclusive of Mineral Reserves. Mineral Resources and Mineral Reserves are the sum of Golden Highway - Holt Complex (which includes Holt, Holloway and property with ore historically processed at the Holt mill. The Holloway Taylor) and Golden Highway - Hislop mine was placed on care and maintenance at the end of 2016 due to ecious M 2 For Royalty Ounce calculation, Franco-Nevada estimates 100% of the Mineral Resources and Mineral r Reserves are subject to our royalty interest and estimates rates of: Holt 10%; Holloway 3%; Taylor 1%; limited economic viability. In an effort to improve the economics of P Hislop 4%; Aquarius 2% the operation, in 2019, Franco-Nevada agreed to reduce the royalty at Holloway to a flat 3% NSR from the previous sliding scale royalty. The Franco-Nevada has multiple NSR royalties ranging from mine resumed operations in early 2019, prior to the current suspension. 0.25 to 10% over the Destor-Porcupine mineral trend just Hislop: Franco-Nevada has a 4% NSR on the Hislop mine which is located east of Timmins, Ontario spread over more than 120 km approximately 50 km to the west of the Holt mill. The open-pit Mineral 2 and estimated to cover over 340 km . Reserves for the Hislop open pit were fully depleted in 2014. Kirkland Lake Gold (“KLG”) acquired St Andrew Goldfields (“St Andrew”) Aquarius: Franco-Nevada holds a 1-2% sliding scale NSR (2% when gold in January 2016, which previously owned and operated most of the price is greater than $1,000/ounce) on the majority of claims surrounding properties along the trend on which Franco-Nevada has royalties. KLG and including the Aquarius deposit. amalgamated Holt, Holloway and Taylor into the Holt Complex for reporting purposes, all of which have fed the Holt mill for processing. Multiple NSR royalties in the Destor-Porcupine The Holloway mine was placed on care and maintenance in March 2020. mineral trend Operations at the remainder of the Holt Complex were suspended in April 2020. Large land position offers future potential In August 2020, KLG and Newmont entered into a strategic alliance agreement, with Newmont acquiring an option on certain mining and mineral rights related to the Holt property. In February 2022, Agnico Eagle and KLG completed a merger of equals, with the combined company continuing as Agnico Eagle (see pages 54, 59 and 63 for additional assets operated by Agnico Eagle). Agnico Eagle plans to evaluate the potential Ontario Golden Quebec Highway Lake Lake N Abitibi Abitibi 0 20 11 Stock Mine and Mill Royalty Stoughton Royalty km 1% NSR 0.5-2.5% NSR Frederick ONR House Pipestone Destor-Porcupine Kidd Creek Hoyle Pond Lake Fault Fault Zone Holloway Royalty Kinross 1060 Zone 3% NSR Matheson Taylor Carr Beatty Munro McCool Owl Creek German Stock Rand Lamplugh Frecheville Bell Creek Jonpol Holloway Mine Holt Mine Stoughton Apollo Broulan Reef Black Fox Hallnor Guibord 101 Timmins McIntyre Pamour Matheson Hislop Michaud #1 Ross Mine Porcupine 11 Ludgate Marriot Hollinger Dome Cody Macklem Bond Currie Bowman Garrison Harker Holloway 101 Delnite Paymaster Zone 7 Royalty Aunor Porcupine Aquarius Royalty Peninsula 1-2% NSR Sliding scale Royal Oak Holt Royalty Cook Barnet Thackeray Sliding scale Night Taylor Royalty Hislop Royalty Kenogamisis Present or past Hawk 1% NSR 4% NSR Central Timmins Royalty Claims Lake producing mine Lake 0.25-1% NSR 68 Franco-Nevada Corporation TSX / NYSE: FNV