Other Mining Taca Taca Location: Argentina, South America w Operator: First Quantum Minerals Ltd. vie Metals: Cu, Au, Mo er Royalty: NSR: 1.08% v O 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 1, 2 M&I Royalty Ounces (000s) 490 437 448 Inferred Royalty Ounces (000s)2 112 100 102 P&P Royalty Ounces (000s)2 403 359 368 Taca Taca, Argentina 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 First Quantum is continuing with the project pre-development and 2 For Royalty Ounce calculation, Franco-Nevada estimates 100% of the Mineral Resources and Mineral feasibility activities. The primary Environmental and Social Impact Reserves are subject to our royalty interest and estimates a rate of 0.918% is applicable for the copper ecious M Royalty Ounces (which factors in a NSR smelting charge of 15%). Copper has been converted to Assessment (“ESIA”) for the project, which covers the principal proposed r Royalty Ounces assuming $4.00 per pound ($3.50 per pound in 2021, $3.50 per pound in 2020) P project sites, was submitted in 2019 and supplementary submissions Franco-Nevada has a 1.08% NSR royalty on all copper, gold on tailings and waste management were filed in 2022. Approval of the ESIA is anticipated in 2023 and, in November 2022, the environmental and molybdenum produced from Taca Taca which was pre-feasibility for power line development was approved. Additional acquired through the acquisition of Lumina Royalty Corp. environmental permit approval for a bypass and access road construction in December 2011. is expected in 2023 and water permit applications will be filed progressively in 2023. A decision to advance the project is not expected The property hosts a very large copper-gold-molybdenum porphyry before 2024. system and is located in the Puna region of northwestern Argentina in Large porphyry deposit with reserve of over Salta Province, 230 km west of the provincial capital of Salta. The royalty is 7.7 million tonnes of contained copper and subject to a buy-back provision. ssets 5.1 million ounces of gold 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 Potentially First Quantum’s next ersified A of contained copper. First Quantum’s technical report considers an iv development project D open-pit mine plan which contemplates processing throughput of up to 60 million tonnes per annum through a conventional flotation circuit Feasibility activities, pre-development and with an initial mine life of approximately 32 years. The Measured and permitting work underway 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 Peru Royalty Area N Arica 1.08% NSR Iquique Bolivia Antofagasta 0 5 Taca Royalty Taca km Area Copiapo NuevaUnión (Relincho) La Serena Pit San Jorge Vizcachitas Santiago First Quantum 2020 Argentina Technical Report Chile Ultimate Pit Design 94 Franco-Nevada Corporation TSX / NYSE: FNV