71 Franco-Nevada Corporation TSX / NYSE: FNV Canada Mineral Resources and Mineral Reserves Additional Information Diversified Assets Red Mountain Cariboo Location: British Columbia, Canada Operator: Ascot Resources Ltd. Precious Metals: Au Royalty: NSR: 1% / Production Payment Location: British Columbia, Canada Operator: Osisko Development Corp. Precious Metals: Au Royalty: NSR: 3% Franco-Nevada has a 1% NSR as well as a $10/oz production payment on gold produced in excess of 1.85 million ounces from the Red Mountain project near Stewart, B.C. Franco-Nevada acquired the royalty as part of the Barrick royalty portfolio in November 2013. In March 2019, Ascot Resources Ltd. (“Ascot”) completed its acquisition of IDM Mining and its 100%-owned Red Mountain project and a revised feasibility study was released in April 2020. The study envisioned the feed from four deposits (Big Missouri, Silver Coin, Premier and Red Mountain) being processed at the Premier mill, which is approximately 23 km southeast of the Red Mountain deposit. The Premier mill required refurbishment and expansion as it had been on care and maintenance for over 20 years. The updated feasibility study contemplated Red Mountain ore commencing processing in the second year of operation continuing for approximately seven years and contributing roughly half the ore feed for the mill, or approximately 70,000 ounces per annum in year three to seven. Since the 2020 feasibility study, Ascot has updated the sequence of mining, deferring Red Mountain development until later in the overall mine life of the project. Commercial production of the combined operation is expected in mid-2024. The Red Mountain project received federal Environmental Assessment approval in January 2019 and, in April 2019, signed a Benefits Agreement with the Nisga’a Nation. In July 2021, Ascot signed an updated Benefits Agreement for both the Premier Gold and Red Mountain project. In January 2023, Ascot completed a $200 million financing package for the construction of the Premier Gold project and is targeting initial production in Q1 2024. For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates an average rate of 1.0% is applicable Osisko Development Corp. (“Osisko Development”) is advancing the Cariboo Gold project in east-central British Columbia. The property consists of 2,120 km 2 of mineral rights located 85 km east of the town of Quesnel. From 1933 to 1967, 4.5 million ounces of gold were mined in the area from both historical underground and alluvial production. Osisko Development started mining the Bonanza Ledge II project, located within the Cariboo Gold project, in Q1 2021. The Bonanza Ledge II Mineral Resource includes the BC Vein, Bonanza Ledge, and KL Zone deposits. Franco-Nevada’s 3% NSR covers the claims to the immediate northeast of Bonanza Ledge, referred to as the KL Zone. Franco-Nevada’s 3% royalty interest also includes the Williams Claims which are about 5 km southeast of Bonanza Ledge. The Bonanza Ledge II project was placed on care and maintenance in June 2022 to focus on the completion of the Cariboo Gold project feasibility study, which was released in January 2023. The feasibility study envisions a two-phase ramp up, with the first gold pour expected in Q3 2024. Phase 1 is 1,500 tpd at approximately 73,000 ounces per year for the first three years and Phase 2 is 4,900 tpd with underground development and production to increase to approximately 194,000 ounces per year. The broader project has an initial 12-year mine life and there is potential to convert additional Inferred Resources located adjacent to reserve blocks, with mineralization open at depth and along strike. Franco-Nevada has not included Cariboo in Royalty Ounce estimates