96 TSX / NYSE: FNV Franco-Nevada Corporation Other Mining Overview Precious Metals Diversified Assets Milpillas Location: Mexico, Central America and Mexico Operator: Industrias Peñoles, S.A.B. de C.V. Metals: Cu Royalty: Production Payment Franco-Nevada has a production payment royalty on the Milpillas copper mine in Sonora, Mexico operated by Industrias Peñoles, S.A.B. de C.V. (“Peñoles”). The royalty is $0.04/lb of copper produced, if the price of copper is above $1.20/lb. The royalty ground covers an estimated 30 km 2 . The project is an underground copper mine and heap leach operation and was acquired by Franco-Nevada in September 2020 as part of a portfolio of 24 royalties from Freeport-McMoRan Inc. Production resumed in mid-2022 after active mining was paused due to low copper prices in Q2 2020. Franco-Nevada has not included Milpillas in Royalty Ounce estimates Falcondo Location: Dominican Republic, Central America and Mexico Operator: Americano Nickel Limited Metals: Ni Royalty: 4.1% Dividend Franco-Nevada has a 4.1% equity interest in Falconbridge Dominicana, C. por A. (“Falcondo”) that is economically similar to a profit royalty except that payments are received through discretionary dividend distributions. Falcondo is a ferronickel surface mining operation with production capacity of 29,000 tonnes of contained nickel per annum located in the Dominican Republic with operations dating back to 1971. Falcondo is typically a swing producer and was put on care and maintenance when nickel prices fell in October 2013. In 2015, Glencore sold its 85.26% ownership in the operation to Americano Nickel Limited, a private equity company which has subsequently restarted the mine. Franco-Nevada has not received any dividends in recent years. For Royalty Ounce calculation, Franco-Nevada estimates 100% of the Mineral Resources and Mineral Reserves are subject to our equity interest and estimates a margin of 20% is applicable. Nickel has been converted to Royalty Ounces assuming $11.00 per pound ($9.00 per pound in 2021, $7.00 per pound in 2020)