Other Mining NUEVAUNIÓN (RELINCHO) Location: Chile, South America | Operator: Teck Resources Limited / Newmont Corporation | Metals: Cu, Au & Mo | Royalty: NSR: 1.5% Franco-Nevada has a 1.5% NSR royalty covering the Relincho property that is part of the NuevaUnión project being advanced by 50/50 joint venture partners, Teck Resources Limited (“Teck”) and Newmont Corporation (“Newmont”). 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ − $ – $ – 1 M&I Resources (Mlbs Cu) 16,068 16,068 16,068 1 Inferred Resources (Mlbs Cu) 5,752 5,752 5,752 1 P&P Reserves (Mlbs Cu) 12,078 12,078 12,078 1,2 M&I Royalty Ounces (000s) 346 399 349 2 Inferred Royalty Ounces (000s) 141 163 143 2 P&P Royalty Ounces (000s) 248 286 250 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 estimates 100% of the Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates a rate of 1.275% (which factors a NSR smelting charge of 15%) and excludes the 昀椀rst four years of production from estimates. Copper has been converted to Royalty Ounces assuming $3.75 per pound ($4.00 per pound in 2022, $3.50 per pound in 2021) The NuevaUnión project was formed in 2015 combining Teck’s Relincho NuevaUnión (Relincho), Chile project with Newmont’s La Fortuna (formerly El Morro) deposit, located approximately 40 km apart in the Atacama region of Chile. Franco-Nevada’s would see mining activities transfer back to Relincho with an expansion 1.5% NSR is subject to a maximum price of $6.00/lb copper and threshold to the processing facilities increasing processing to 208,000 tpd. price of $1.50/lb copper, inflation adjusted. No royalty is paid if the A feasibility study was also completed in 2020, with further optimization average price for the quarter is less than the threshold price and royalty work conducted. payments commence four years after commercial production. Franco- Nevada acquired the royalty through its acquisition of Lumina Royalty Corp. Work in 2023 advanced select technical and strategic work which will in December 2011. continue in 2024 with a focus on establishing a cost-effective path NuevaUnión is one of the largest undeveloped copper-gold-molybdenum forward. Community engagement and investment activities will continue projects in the Americas. A preliminary economic assessment disclosed in 2024. by Teck in 2015 contemplated a conveyor to transport ore from the La Fortuna site to a single line mill and concentrator facility at the One of the largest undeveloped Cu-Au-Mo projects Relincho site. A 2018 prefeasibility study outlined a 36-year mine life, with a three-phase development approach assuming life of mine average in the Americas Mineral Resources and Mineral Reser production of 251,000 tonnes of copper equivalent production. Phase 1 Joint venture combines Relincho and La Fortuna to one project (Years 1 – 3) would see mining and a processing facility at the Relincho Project synergies to significantly reduce capital expenditure site assuming processing of 104,000 tonnes per day (“tpd”). In Phase 2 (Years 4 – 18), mining activities would transfer to the La Fortuna site utilizing an ore conveyance system to transport ore to the processing facilities at Relincho (116,000 tpd in Phase 2). Phase 3 (Years 19 – 36) Iquique Bolivia ves Royalty Area NuevaUnión 1.5% NSR Proposed Pit (Relincho) Antofagasta 1.5% NSR Chile Copiapo Marte-Lobo Additional Inf Candelaria Cerro Casali Relincho Regalito Proposed Mill El Morro N La Serena Pascua-Lama 0 10 Andacollo Pacic Ocean or kilometer Santiago Argentina mation Chile TSX / NYSE: FNV Franco-Nevada Corporation ★ 95