S T E R L I N G Location: Nevada, United States | Operator: AngloGold Ashanti | Precious Metals: Au | Royalty: NSR: 0.25% Sterling is a historic gold operation located 185 km northwest of Las Vegas, Nevada near Beatty, Nevada. In 2022, AngloGold Ashanti acquired 100% of Coeur’s wholly owned subsidiary, Coeur Sterling, Inc., which owned the Sterling property. Franco-Nevada holds 1 / 8 th of a 2% NSR, or an effective 0.25% NSR royalty, on approximately 272 lode mining claims with a small minimum advance royalty. Sterling underground mining operations were terminated at the end of May 2015. The acquisition consolidates AngloGold Ashanti’s ownership position in the Beatty District allowing for optimal development of the assets centered on developing the North Bullfrog, Silicon and Merlin projects. As of December 31, 2023, AngloGold Ashanti reported 16.6Mozs of total Nevada mineral resource including .91Moz at Sterling. Franco-Nevada has not included Sterling in Royalty Ounce estimates G R A N I T E C R E E K ( P I N S O N ) Location: Pinson, United States | Operator: i-80 Gold Corp. | Precious Metals: Au | Royalty: NSR: 1-2% The Granite Creek (Pinson) project is located near Winnemucca, Nevada, at the intersection of the Getchell Gold Belt and the Battle Mountain-Eureka Trend. Franco-Nevada holds a 1-2% NSR on approximately 20 sections within the Getchell trend. This royalty includes a 2% NSR on Section 33 and a 1% NSR on the southern half of Section 32 within Granite Creek’s operating area, formally known as Pinson. Granite Creek (Pinson) is south of Nevada Gold Mines’ Turquoise Ridge mine and 13 km from its Twin Creeks mine complex. The historic Pinson mine produced 985 koz of gold from 1980 through 1999 by open-pit mining. In August 2020, Premier Gold Mines USA, Inc. acquired the outstanding interests of Osgood Mining Company LLC (“Osgood”) from affiliates of Waterton Global Resource. In 2021, Equinox Gold acquired Premier. Concurrently, Premier spun-out its US-focused gold production and development assets into i-80 Gold, which included the Granite Creek project. In July 2022, i-80 Gold announced they began shipping ore from operations at Granite Creek to Nevada Gold Mines’ Twin Creeks processing facility, as per the company’s toll-milling agreement. High- grade refractory mineralization is processed at the Twin Creeks facility and oxide mineralization is sold to a third-party through a negotiated ore sale agreement. Franco-Nevada’s royalty at Granite Creek does not cover the current underground workings, it does cover portions of the development-stage heap leach project. I-80 Gold is currently executing an extensive exploration and delineation drilling program targeting both the open pit and underground mineralization. The company expects to complete a Feasibility Study in 2024. Franco-Nevada has not included Granite Creek (Pinson) in Royalty Ounce estimates TSX / NYSE: FNV 52 ★ Franco-Nevada Corporation United States