United States Marigold Location: Nevada, United States ww Operator: SSR Mining Inc. vievie Precious Metals: Au erer Royalty: NSR: 1.75-5% / GR: 0.5-4% vv OO 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ 7.5 $ 8.5 $ 7.1 M&I Resource (koz Au)1 5,004 5,004 4,942 Inferred Resource (koz Au)1 252 252 182 P&P Reserves (koz Au)1 3,410 3,410 3,887 1, 2 M&I Royalty Ounces (000s) 126 154 155 2 Inferred Royalty Ounces (000s) 6 8 6 2 P&P Royalty Ounces (000s) 86 106 122 Marigold, Nevada 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 97% of the Mineral Reserves (96% in 2021, 98% in 2020), 96% of the M&I Mineral Resources (97% in 2021, 98% in 2020) and 97% of the Inferred ecious M Mineral Resources (96% in 2021, 98% in 2020) are subject to our royalty interest and estimates a rate r of 2.59% is applicable Marigold Mine P 5% NSR 5% NSR * December 2009 N The Marigold mine is located approximately 64 km Acquisition 1 mile southeast of Winnemucca, Nevada on the Battle Mountain-Eureka Trend and is operated by SSR Mining Inc. 1.75% NSR 5% NSR 1.75% NSR 5% NSR (“SSR Mining”). Valmy Valmy The mine has been in continuous production since 1989 and is a large run-of-mine heap leach operation with several open pits. Franco-Nevada 5% NSR 1.75% NSR 5% NSR 5% NSR 1.75% NSR 5% NSR has various royalties on the operation (1.75-5% NSR and 0.5-4% GR), as shown in the schematic, together covering a significant portion of the current Mineral Reserve base. Franco-Nevada’s original royalties were acquired in connection with its IPO and, in December 2009, additional 5 North 5 North royalties covering alternate sections were added. In 2022, 18,061 kt of ore 5% NSR Deposit N 5% NSR Deposit Pits were placed on pads at a grade of 0.56 g/t versus 19,999 kt of ore placed on pads at a grade of 0.41 g/t in 2021. 1 Mile Exploration 2.5%-4% GR* 5% NSR 2.5%-4% GR* 5% NSR Targets The mine produced 194,668 ounces of gold in 2022 versus 235,282 8 North 5% NSR 8 North 5% NSR ounces in 2021. For 2023, SSR Mining expects production to be between 5% NSR Deposit 5% NSR 5% NSR Deposit 5% NSR Terry Terry 260,000 to 290,000 ounces, with production of between 215,000 to Zone 8D Zone 8D 245,000 ounces in 2024. The current life of mine plan predicts a 10-year North North 1.75% NSR 1.75% NSR mine life, with life of mine production of 2.3 million ounces of gold and 8SX 8SX average annual production of 225,000 ounces over the next three years. 5% NSR 2.5%-4% GR* 5% NSR 5% NSR 2.5%-4% GR* 5% NSR Royalty payments to Franco-Nevada will fluctuate depending on the Marigold royalty ground being mined. Oregon Idaho Terry Hideout Mine Terry Hideout Pit Pit SSR Mining’s strategy to advance brownfields targets proximal to existing Nevada Utah *December 2009 Marigold 0.5%-1.5% GR* Acquisition 0.5%-1.5% GR* infrastructure continues to yield encouraging results and the company Red Dot Red Dot California Arizona plans to continue its exploration drilling in 2023 with a $26 million Pacific 2.5%-4% GR* 2.5%-4% GR* Ocean 2.5%-4% GR* 2.5%-4% GR* budget. Currently, the focus will be on higher-grade oxides, resource MEXICO Mackay Pits Mackay Pit Pit expansion and conversion at New Millennium, Mackay, Valmy, Trenton Exploration Canyon and Buffalo Valley, the majority of which are not on Franco- Nevada royalty ground. Targets 5% NSR 3% NSR* 5% NSR 3% NSR* 2.5%- 2.5%- 4% GR* 4% GR* The Marigold mine has produced in Target Target Pit excess of four million ounces Pit Valmy and Valmy and 1.75% NSR 5% NSR 3% NSR* Mud Pits 3% NSR* 1.75% NSR 5% NSR 3% NSR* Mud Pits 3% NSR* Continued resource expansion and encouraging exploration results E. Basalt Schematic E. Basalt Schematic Antler and and Battle Cry Representation Antler and and Battle Cry Representation 1.75% NSR Basalt Pits Targets Only 1.75% NSR Basalt Pits Targets Only (Backfilled) (Backfilled) 44 Franco-Nevada Corporation TSX / NYSE: FNV