Canada Magino Location: Ontario, Canada ww Operator: Argonaut Gold Inc. vievie Precious Metals: Au erer Royalty: NSR 2% vv OO 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ – $ – $ – M&I Resource (koz Au)1 4,019 – – Inferred Resource (koz Au)1 526 – – P&P Reserves (koz Au)1 2,427 – – 1, 2 M&I Royalty Ounces (000s) 80 – – 2 Inferred Royalty Ounces (000s) 11 – – 2 P&P Royalty Ounces (000s) 49 – – etals 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 2 For Royalty Ounce calculation, Franco-Nevada estimates 100% of the Mineral Resources and Mineral Magino, Ontario Reserves are subject to our royalty interest and estimates a rate of 2.0% is applicable ecious M r P Magino is a past producing underground gold mine currently in On October 27, 2022, Franco-Nevada, acquired a 2% NSR construction as a conventional open pit mining and milling operation on Argonaut Gold Inc.’s construction-stage Magino gold with a mill throughput capacity of 10 ktpd. As detailed in Argonaut project in Ontario for US$52.5 million. Gold’s March 3, 2022 Technical Report on the Magino Project, the mine is expected to have a 19 year mine life with average gold production of Magino is located in Ontario, approximately 14 km southeast of the 142 koz per annum in the first 5 years. As of December 31, 2022, Magino is town of Dubreuilville and is owned and operated by Argonaut Gold Inc. 80% complete with commercial production estimated in the third quarter (“Argonaut Gold”). 2023, following first gold-pour in May 2023. The 2% NSR applies to the Magino project and all of Argonaut Gold’s Magino and the regional exploration claims are located adjacent to 2 Franco-Nevada’s existing royalties in the area on Alamos Gold’s Island regional exploration properties, a total of 45 km . Lake properties and expands our exposure to this prospective region. Exploration targets include high-grade underground potential, e.g. the Magino Royalty Area Elbow Zone, and prospective structures and host rock on trend of Magino located on the royalty grounds. 0 N 2 km Commercial production expected in Q3 2023 Long life mine plan New Magino Royalty claims Extensive resource beyond existing mine plan Existing Island Gold Royalty claims 2.0% NSR Reserves + Resources Prospective land package and exploration upside 2.0% NSR Island Gold (Alamos) Magino Royalty Area Royalty Area 0.62% NSR 2.0% NSR Resource Pit e anodiorit Gr Granodiorite 2.0% NSR Ontario Quebec Magino 64 Franco-Nevada Corporation TSX / NYSE: FNV