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