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Canada Island Gold Location: Ontario, Canada Operator: Alamos Gold Inc. Precious Metals: Au Royalty: NSR: 0.62% 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ 1.0 $ 1.5 $ 0.8 M&I Resource (koz Au)1 1,755 1,624 1,476 Inferred Resource (koz Au)1 3,529 3,454 3,208 P&P Reserves (koz Au)1 1,464 1,338 1,310 1, 2 M&I Royalty Ounces (000s) 9 9 8 2 Inferred Royalty Ounces (000s) 19 19 18 2 P&P Royalty Ounces (000s) 8 8 7 Island Gold, Ontario 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 Island Gold is one of Canada’s highest grade gold mines. Combined 2 For Royalty Ounce calculation, Franco-Nevada estimates 90% of the Mineral Reserves and 85% Mineral Resources and Mineral Reserves (including Inferred material) are Mineral Resources (90% in 2021) are subject to our royalty interest and estimates a rate of 0.62% is applicable 5.3 million gold ounces (4.2 million tonnes grading 10.78 g/t of Mineral Reserves, 1.3 million tonnes grading 7.09 g/t of exclusive M&I Resources, In March 2020, Franco-Nevada acquired an existing and 8.1 million tonnes grading 13.61 g/t) as of December 31, 2022. 0.62% NSR on the Goudreau Lake claims totaling In November 2022, Alamos announced positive exploration results at 58 hectares covering the core of the Island Gold mine the Island Gold mine, further extending high-grade mineralization at in western Ontario. Island West, Island East, and at depth and in February 2023, Alamos also announced the acquisition of Manitou Gold Inc. (Franco-Nevada’s royalty The mine is operated by Alamos Gold Inc. (“Alamos”) who acquired does not cover this ground). the operation in 2016. The mine utilizes longitudinal retreat longhole stoping with cement backfill and ore is processed through a conventional Franco-Nevada holds additional royalties in the Island Gold mining camp. carbon in pulp plant. Alamos produced a total of 133,700 ounces of These include a 2% NSR royalty on Alamos’ Edwards property located D gold in 2022 from the mine, a decrease from 140,900 ounces of gold 4 km northeast of the Island Gold mine and a 0.75% NSR royalty on the iv in 2021. Gold production is forecast to be between 120,000 to 135,000 Cline Lake property immediately adjacent to Edwards. In December ersified A ounces in 2023. In the near term, Franco-Nevada expects a significant 2020, Alamos acquired Trillium Mining Corp. which previously held the portion of production to come from the royalty claims and it is estimated Cline Lake property, increasing its land package by approximately 60% ssets that approximately 85% of the inclusive Mineral Resources and 90% of in the region. Both of Franco-Nevada’s additional royalties in the mining the Mineral Reserves on the property are covered by Franco-Nevada’s camp are along strike and on the same geologic structure as the Island royalty claims. Gold mine. In June 2022, Alamos reported results of the positive Phase III+ expansion High grades at Island Gold support stable study conducted on its Island Gold mine. Based on the results of the production through expansion study, Alamos is proceeding with an expansion of the operation to 2,400 tpd. The Phase III+ expansion is expected to increase average Phase III+ expansion expected to increase average M annual gold production to 287,000 ounces per year starting in 2026 upon production to 287,000 ounces starting in 2026 iner completion of the shaft, representing an approximate 115% increase from al R 2022 production. The expanded mine plan has an expected mine life of Strong exploration potential in Island Gold esour 18 years, from 2022 to 2039. c mining camp es and M Island Gold Royalty Area 0.62% NSR Northern Zone iner al R eser v 0 N 500 es Island East metres Island Main A Island West dditional I FNV Royalty claims Reserves + Resources nf orma tion TSX / NYSE: FNV Franco-Nevada Corporation 65

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