Other Mining Robinson EaglePicher Location: Nevada, United States Location: Nevada, United States w Operator: KGHM International Ltd. Operator: EP Minerals, LLC vie Metals: Cu, Au Metals: De er Royalty: NSR: 0.225% / other Royalty: Production Payment v O The Robinson open-pit mining complex, operated by EaglePicher is a diatomaceous earth operation in Pershing KGHM, produces copper, gold and molybdenum and is County, Nevada, located about 23 miles northwest located near Ely, Nevada. of Lovelock. Franco-Nevada has three royalties covering the Robinson mine: The royalty is based on a fixed payment per ton which fluctuates based on the average sales price from the prior year’s sales. The royalty covers 1) a 0.225% NSR on all base metal and associated precious metal approximately 15 km2 of checkerboard lands. The intervening lands are production; public and EaglePicher holds unpatented placer claims on those lands as needed for mining. The mine has been in continuous operation since 2) a 10% NSR on 51% of the gold production from the property in excess the 1950s with approximately 65% of production coming from Franco- etals of 60,000 ounces of gold per year; and Nevada land. The revenue received from EaglePicher in 2021 and 2022 3) under a copper agreement, a price participation royalty on 51% of was $393,000 and $319,000, respectively. ecious M Franco-Nevada has not included EaglePicher in Royalty Ounce estimates r 40% of each pound of copper production from the property in excess P of 130 million pounds of copper produced per annum, multiplied by the spot price, less $1.00 per pound adjusted for inflation (based on 1990 dollars). Amounts are only payable in any year in which the average price of copper during that year exceeds a $1 per pound threshold, as adjusted for inflation (based on 1990 dollars). Copper production for 2022 was approximately 103 million pounds, down 1% from the same period in 2021, while gold production for 2022 was 37,900 ounces, up 13% from the same period in 2021. Franco-Nevada will likely only be paid on the base 0.225% NSR royalty for 2023 as production is expected to be below ssets the royalty threshold level. Robinson received a positive Record of Decision from the Bureau of Land Management in September 2021 for a plan of operations amendment which is estimated to extend the mine life ersified A at current production rates until 2028. iv D For Royalty Ounce calculation, Franco-Nevada estimates 100% of the gold and copper Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates an average rate of 0.225% is applicable for gold and 0.1913% for copper (which factors a NSR smelting charge of 15%). Copper has been converted to Royalty Ounces assuming $4.00 per pound ($3.50 per pound in 2021, $3.50 per pound in 2020) 98 Franco-Nevada Corporation TSX / NYSE: FNV