Canada DUBLIN GULCH (EAGLE) w Location: Yukon, Canada | Operator: Victoria Gold Corp. | Precious Metals: Au | Royalty: NSR: 1-1.5% vie Over Franco-Nevada has a 1% NSR on the Eagle Gold mine which is owned and operated by Victoria Gold Corp. (“Victoria Gold”). 2023 2022 2021 average 202,000 ounces of gold per year over the first eight years, Revenue to Franco-Nevada ($ million) $ 3.3 $ 2.6 $ 3.1 with peak production of 219,000 gold ounces in 2025. Optimizations M&I Resources (koz Au)1 4,304 4,304 4,397 incorporated into the 2023 technical report include year-round stacking Inferred Resources (koz Au)1 497 497 361 on the heap leach facility, stockpiling of lower grade material for end P&P Reserves (koz Au)1 2,407 2,407 3,061 of mine life processing, and utilization of a mobile crusher to supplement and increase production rates. M&I Royalty Ounces (000s)1,2 43 43 44 Inferred Royalty Ounces (000s)2 5 5 4 Franco-Nevada’s royalty is estimated to cover the entire Eagle deposit P&P Royalty Ounces (000s)2 24 24 31 which contains Mineral Reserves of 2.41 million ounces (118 million tonnes grading 0.64 g/t) and a small portion of the satellite Olive deposit 1 Please refer to the tables on pages 118-124 for a breakout of grade and tonnages by Mineral which contains Mineral Reserves of 0.18 million ounces (7 million tonnes Precious Metals Resource category; all M&I categories are inclusive of Mineral Reserves grading 0.84 g/t). Mineralization at Eagle has been drill tested to a depth 2 For Royalty Ounce calculation, Franco-Nevada estimates 100% of the Mineral Resources and of 850m and remains open at depth. Victoria Gold continues to explore Mineral Reserves are subject to our royalty interest and estimates a rate of 1.0% is applicable the broader land package targeting Lynx (on royalty ground) as well as The Eagle deposit is part of the larger Dublin Gulch claim block and Raven (not on royalty ground). In 2023, exploration on the Lynx property is located in central Yukon. In addition, Franco-Nevada has a 1.5% NSR consisted of additional trenching and soil sampling on Franco-Nevada’s on the Lynx properties (part of the Dublin Gulch claim) which is subject royalty ground. to a C$15,000 annual advance royalty payment and is capped at C$1,500,000. In July 2020, the Eagle Gold mine achieved commercial Gold production increasing production. In 2023, the operation produced 166,730 ounces of gold compared with 150,182 ounces of gold in 2022. Gold production Updated technical report in 2023 with 12-year mine plan for 2024 is estimated to be between 165,000 and 185,000 ounces. Exploration potential both near-mine and across the broader In February 2023, Victoria Gold announced an updated technical report land package for the Eagle Gold mine envisioning total gold production of two million ounces over a mine life of 12 years starting in 2023. Production will Dublin Gulch (Eagle Deposit) 1-1.5% NSR 0 N 2.5 Olive- Popeye Shamrock Bluto Nugget-Raven kilometer Eagle Royalty 1% gross return royalty Mar Zone Wolf-Tungsten Property Lynx Royalty 1.5% NSR (capped) Rex Peso Catto Whiskey Wrinkles Eagle West Eagle Gold Mine Lynx Len Zone Eagle Extension Property Alaska Eagle Mine Dublin Gulch (Eagle Deposit) Access Road Northwest Yukon Territories British Columbia 60 ★ Franco-Nevada Corporation TSX / NYSE: FNV