94 TSX / NYSE: FNV Franco-Nevada Corporation Other Mining Overview Precious Metals Diversified Assets Taca Taca Location: Argentina, South America Operator: First Quantum Minerals Ltd. Metals: Cu, Au, Mo Royalty: NSR: 1.08% Taca Taca Royalty Area 1.08% NSR N Arica Iquique Antofagasta La Serena Santiago Copiapo NuevaUnión (Relincho) Chile Argentina Bolivia Peru Vizcachitas San Jorge Taca Taca km 0 5 Pit Royalty Area First Quantum 2020 Technical Report Ultimate Pit Design First Quantum is continuing with the project pre-development and feasibility activities. The primary Environmental and Social Impact Assessment (“ESIA”) for the project, which covers the principal proposed project sites, was submitted in 2019 and supplementary submissions on tailings and waste management were filed in 2022. Approval of the ESIA is anticipated in 2023 and, in November 2022, the environmental pre-feasibility for power line development was approved. Additional environmental permit approval for a bypass and access road construction is expected in 2023 and water permit applications will be filed progressively in 2023. A decision to advance the project is not expected before 2024. Large porphyry deposit with reserve of over 7.7 million tonnes of contained copper and 5.1 million ounces of gold Potentially First Quantum’s next development project Feasibility activities, pre-development and permitting work underway 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ – $ – $ – M&I Resource (Mlbs Cu) 1 20,835 20,835 20,835 Inferred Resource (Mlbs Cu) 1 4,863 4,863 4,863 P&P Reserves (Mlbs Cu) 1 17,052 17,052 17,052 M&I Royalty Ounces (000s) 1, 2 490 437 448 Inferred Royalty Ounces (000s) 2 112 100 102 P&P Royalty Ounces (000s) 2 403 359 368 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 0.918% is applicable for the copper Royalty Ounces (which factors in 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) Franco-Nevada has a 1.08% NSR royalty on all copper, gold and molybdenum produced from Taca Taca which was acquired through the acquisition of Lumina Royalty Corp. in December 2011. The property hosts a very large copper-gold-molybdenum porphyry system and is located in the Puna region of northwestern Argentina in Salta Province, 230 km west of the provincial capital of Salta. The royalty is subject to a buy-back provision. In November 2020, First Quantum filed an updated NI 43-101 technical report and declared a maiden Mineral Reserve of over 7.7 million tonnes of contained copper. First Quantum’s technical report considers an open-pit mine plan which contemplates processing throughput of up to 60 million tonnes per annum through a conventional flotation circuit with an initial mine life of approximately 32 years. The Measured and Indicated Mineral Resource is 2,203 million tonnes, grading 0.43% copper, and contains 9,451,000 tonnes of contained copper, 265,000 tonnes of molybdenum and 6,052,000 ounces of gold. The Proven and Probable Mineral Reserve has been estimated at 1,759 million tonnes, grading 0.44% copper, for 7,735,000 tonnes of contained copper, 214,000 tonnes of molybdenum and 5,087,000 ounces of gold. Taca Taca, Argentina