South America ANTAMINA Location: Peru, South America | Operator: Teck Resources Limited (owns 22.50%) | Precious Metals: Ag | Stream: Silver Stream In October 2015, Franco-Nevada acquired a silver stream for $610 million on production from the Antamina mine in Peru from Teck Resources Limited (“Teck”). 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 50.5 $ 68.4 $ 94.1 M&I Resources (Moz Ag)¹ 324.7 321.2 324.9 Inferred Resources (Moz Ag)¹ 429.6 460.2 447.7 P&P Reserves (Moz Ag)¹ 77.8 88.3 107.0 1,2 M&I Royalty Ounces (000s) 522 528 585 1 Inferred Royalty Ounces (000s) 492 531 560 1 P&P Royalty Ounces (000s) 134 153 201 1 Please refer to the tables on pages 118-124 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 assumes 22.5% of Teck’s interest in Antamina is subject to our stream interest and that the stream reduces by 33% once 86 million silver ounces have been delivered. Silver has been converted to Royalty Ounces assuming $1,950/ oz gold and $22.50/oz ($1,800/oz gold and $21.00/oz silver in 2022, $1,800/oz gold and $23.00/oz in 2021). The stream interest has been factored by ongoing payments of 5% of the spot price of silver Teck has a 22.50% interest in Compañía Minera Antamina S.A. (“CMA”), Antamina, Peru the Antamina joint venture company, along with partners BHP Billiton Plc (33.75%), Glencore (33.75%) and Mitsubishi Corporation (10.00%). High grade copper/zinc orebody Antamina commenced operations in 2001 and is one of the lowest cost One of the lowest cost copper operations globally copper operations globally. Antamina has a mill throughput capacity Large, high grade Inferred Mineral Resource Diver of approximately 145,000 tonnes per day. In 2023, on a 100% basis, Antamina produced 423,500 tonnes of copper, 463,100 tonnes of zinc sified Assets and 11.6 million ounces of silver (silver calculated from Glencore’s 33.75% interest in Antamina) in concentrates. Silver sold for 2023 was 2.2 million ounces for Franco-Nevada’s attributable Antamina share under the stream, with 3.1 million ounces sold in 2022. Franco- Silver Stream Huari Nevada expects attributable production in 2024 to be between 2.0 million Huaraz to 2.4 million silver ounces, temporarily lower than our long-term expected San Marcos Antamina annual range of 2.8 million to 3.2 million silver ounces as silver grades Chavui De Huantar are expected to be lower than average in 2024. Antamina is expected N Subestacion 0 100 Recuay Machac Linea de to revert to higher silver grades in 2025. In addition, a capital program Transmision Mineral Resources and Mineral Reser Electrica that includes moving the location of the in-pit crusher will provide access kilometer to higher grade ore resulting in higher metal production. The stream is Catac Parque Nacional Huascaran based on recovered silver from Teck’s attributable 22.50% interest in the Pachacoto Huanzala Huallanca Antamina mine, subject to a fixed silver payability of 90%. Franco-Nevada Yanashall pays 5% of the spot silver price for each ounce of silver delivered under Autopista Panamericana Norte the stream. The stream will reduce by one-third after 86 million ounces CMA Pipeline Huarmey of silver have been delivered, currently expected after 2040. A total CMA Aquia Puerto Minero Carretera of 27.1 million cumulative ounces of silver have been delivered to Punta Lobitos Pativilca-Huarez Conococha Franco-Nevada as of December 31, 2023. Cajacay Chiquian Inclusive of Mineral Reserves, the mine contains total Measured and Chasquitambo Indicated Mineral Resources of approximately 899 million tonnes of ore ves (with a silver grade of 11.2 g/t) and an Inferred Mineral Resource of 1.19 billion tonnes of ore (with a silver grade of 11.3 g/t). Total Mineral Cutatambo Reserves are 226 million tonnes of ore (with a silver grade of 10.7 g/t), Brazil which are currently constrained by tailings disposal capacity. Approval Antamina Peru of the Modification of Environmental Impact Assessment was received Bolivia Paramonga on February 14, 2024, to extend its mine life from 2028 to 2036. CMA Pativilca Additional Inf is evaluating for additional tailings storage options and alternative mine Barranca Pacic Ocean Pacic Ocean Pto. Supe plans that could result in significant mine life extensions. Beyond the Huacho Chile Argentina known Mineral Resources and Mineral Reserves, Antamina hosts additional Huaral Chancay potential open pit and bulk/selective underground targets. There is also Lima or regional exploration potential over a large, prospective land package mation 2 greater than 1,000 km . TSX / NYSE: FNV Franco-Nevada Corporation ★ 31