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