South America GOLD QUARRY Location: Nevada, United States | Operator: Nevada Gold Mines LLC | Precious Metals: Au | Royalty: NSR: 7.29% The Gold Quarry operation is part of the Nevada Gold Mines Carlin operations in north-central Nevada. 2023 2022 2021 Franco-Nevada’s royalty interest covers only a portion of the Gold Revenue to Franco-Nevada ($ million) $ 3.0 $ 4.9 $ 7.5 Quarry property, as shown in the schematic. The Gold Quarry royalty M&I Resources (koz Au)1,2 n/a n/a n/a is a 7.29% NSR based on production with a minimum payment Inferred Resources (koz Au)1 n/a n/a n/a obligation. The annual minimum royalty payment calculation is tied P&P Reserves (koz Au)1 n/a n/a n/a to Mineral Reserves and stockpiles attributed to the Gold Quarry royalty property. In the past, the operation has considered pit expansions 2,3 including the West Wall Layback and the Greater Gold Quarry Expansion. M&I Royalty Ounces (000s) n/a n/a n/a 3 In 2023, Franco-Nevada’s cumulative prepaid ounces delivered by Gold Inferred Royalty Ounces (000s) n/a n/a n/a 3 Quarry exceeded the attributable Gold Quarry known Mineral Reserves P&P Royalty Ounces (000s) n/a n/a n/a resulting in lower expected future minimum payments. Going forward, 1 Please refer to the table on page 44 for the Carlin Trend Mineral Resources and Mineral Franco-Nevada expects its royalty from Gold Quarry to be 1,350 GEOs Reserves which include Gold Quarry per annum based on the minimum payment obligation. 2 All M&I categories are inclusive of Mineral Reserves 3 Please refer to the table on page 44 for the Carlin Trend Royalty Ounce calculation which includes Gold Quarry Annual minimum payment obligations Gold Quarry is a large open pit mine that has been in production since Benefits from additional milling and roasting infrastructure 1985 supplying ore as part of an integrated mining and processing following the formation of Nevada Gold Mines complex. In 2019, Barrick (61.5%) and Newmont (38.5%) combined their Registered on private lands significant assets across Nevada to create Nevada Gold Mines as a joint venture. Under this joint venture, Barrick reports Gold Quarry under its Carlin operations category and Newmont reports Gold Quarry under its Nevada Gold Mines category. Diver sified Assets 7.29% Gold Quarry NSR 7.29% NSR Mineral Resources and Mineral Reser N 0 0.5 7.29% mile NSR Gold Quarry Open Pit FNV Royalties Gold Quarry Open Pit ves Oregon Idaho Nevada Utah Gold Additional Inf Quarry California Arizona West Wall Layback Pacic Ocean MEXICO Potential Greater Gold Quarry Expansion or mation TSX / NYSE: FNV Franco-Nevada Corporation ★ 45