Central America and Mexico 38 TSX / NYSE: FNV Franco-Nevada Corporation Overview Overview Precious Metals Camp Caribbean Sea Punta Rincón River Caimito N km 0 4 Cobre Panama Plant Site Concession Boundary Power Transmission 230 kv line Property located approximately 20 km from Caribbean Sea * Cobre Panama Project Panama City Panama Canal Pacific Ocean Caribbean Sea Port and Powerplant Balboa Pit Colina Pit Valle Grande Pit Botija Pit Brazo Pit Medio Pit Botija Abajo Pit Cobre Panama is one of the world’s largest copper porphyry deposits. It’s location near tidewater allows a very low cost operation. The delivery of precious metals to Franco-Nevada is initially indexed to the copper in concentrate shipped. In 2022, Cobre Panama produced 350 kt of copper. Franco-Nevada sold 123,769 GEOs from the mine in 2022, compared to 131,062 GEOs in 2021. In 2023, Franco-Nevada expects GEO sales from its Cobre Panama stream to be between 115,000 and 135,000 GEOs based on First Quantum’s January 16, 2023 guidance of between 350,000 and 380,000 tonnes of copper production, and accounting for a larger allowance for the impact of shipment timing for the year following the restriction of concentrate shipments in February. First Quantum announced on March 8, 2023 that a draft concession contract with the Government of Panama was finalized; the agreement is in a ratification process. The concession contract will have an initial 20-year term, with a 20-year extension option and additional extensions for the life of mine. Expansion to achieve target throughput of 100 Mtpa during 2023 Concession covers an area of approximately 130 km 2 Low-cost operation close to tidewater