United States Fire Creek/Midas Location: Nevada, United States Operator: Hecla Mining Company Precious Metals: Au & Ag Royalty: NSR: 2.5% 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ 0.1 $ 1.0 $ 1.5 M&I Resource (koz Au)1 92 94 125 Inferred Resource (koz Au)1 3,185 3,185 2,994 P&P Reserves (koz Au)1 – – 31 1, 2, 3 M&I Royalty Ounces (000s) 2 3 3 2, 3 Inferred Royalty Ounces (000s) 84 84 79 2, 3 P&P Royalty Ounces (000s) – – 1 Fire Creek/Midas, Nevada 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 Production at the Midas mine was suspended in 2019 and at the Midas 2 For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral mill and Fire Creek mine in mid-2021. While both mines and the mill are Reserves at Fire Creek and Midas are subject to our royalty interest and estimates an average rate of 2.5% is applicable currently on care and maintenance, in 2021 stockpiled non-refractory ore 3 Silver has been converted to Royalty Ounces assuming $1,800/oz gold and $21.00/oz silver ($1,800/ was processed at the Midas mill. Third-party processing of refractory ore oz gold and $23.00/oz silver in 2021, $1,750/oz gold and $25.00/oz silver in 2020) was also conducted in a roaster and autoclave facility off site. The Fire Creek and Midas mines are located in north In Q4 2021, Hecla announced exploration drilling at Midas had defined central Nevada, at the cross-section of the Northern and expanded mineralization on the Sinter Structure and intersected Nevada Rift and the Battle Mountain Trend. high-grade gold and silver mineralization on two new structures, the Racer and Hanging Wall (HW1), both open along the East Graben Fire Creek is a high-grade epithermal gold deposit consisting of a Corridor. In 2022, Hecla performed $15.5 million of exploration and combination of private fee land and U.S. Bureau of Land Management pre-development activities at their Nevada operations. Exploration (“BLM”) land for a total area of approximately 45 km2 work at Midas focused on the two miles of strike length along the plus an area of East Graben Corridor. interest in adjacent townships along strike with mineralization. Midas was D iv discovered and constructed by Franco-Nevada’s predecessor company NSR royalty on two properties with large areas ersified A prior to its combination with Newmont. The Midas property position extends over private fee land and BLM land for a total area of 137 km2 of interest with an area of interest surrounding the property. The Fire Creek and ssets Midas mines, along with the Hollister mine (discussed on page 50), Exploration focused on the two miles of strike are operated by Hecla Mining Company (“Hecla”) after Hecla acquired length along the East Graben Corridor Klondex Mines Ltd. in 2018. After completion of a prepaid gold purchase agreement in 2018, Franco-Nevada now holds a 2.5% NSR royalty on both properties. M Fire Creek/Midas iner al R Fire Creek Midas esour Royalty Area Royalty Area c 2.5% NSR 2.5% NSR es and M N N 0 1 0 1 miles miles iner Royalty (Fee Lands) Royalty covered areas al R Royalty Plus Area of Interest Midas eser (Unpatented Mining Claims) (AOI) (not shown) Town v Fire Creek deposits es Fire Creek/ Plan of Midas Operations Oregon Idaho Outline of Nevada Utah Area of Interest California Arizona (AOI) Pacific Ocean MEXICO A dditional I nf orma tion TSX / NYSE: FNV Franco-Nevada Corporation 49