C R A W F O R D Location: Ontario, Canada | Operator: Canada Nickel Company | Metals: Ni, Co, Cr & PGM | Royalty: NSR: 2% Canada Nickel Company is advancing its Crawford nickel-cobalt sulphide project near Timmins, Ontario where Franco-Nevada holds a 2% NSR on all metals. Crawford represents one of the largest undeveloped nickel resources globally, containing 3.8 Mt of proven & probable nickel reserves. The company completed a bankable feasibility study for a large-scale open pit mining project in 2023. The study outlined a multi-phase operation ramping up from 60 ktpd to 120 ktpd of milling capacity to produce up to 48 ktpa of nickel over a 40-year mine life. The mine would also produce cobalt, chrome, iron and PGMs. Canda Nickel is advancing the project through the permitting process and has attracted investments from Anglo American, Agnico-Eagle, and Samsung SDI. 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 2.0% is applicable. Franco- Nevada has also applied a NSR smelting charge of 30%. Nickel has been converted to Royalty Ounces assuming $7.89 per pound ($11.00 per pound in 2022, $9.00 per pound in 2021) R O B I N S O N Location: Nevada, United States | Operator: KGHM International Ltd. | Metals: Cu, Mo, Ag & Au | Royalty: NSR: 0.225% / other The Robinson open pit mining complex, operated by KGHM, produces copper, gold, silver and molybdenum and is located near Ely, Nevada. Franco-Nevada has three royalties covering the Robinson mine: 1. a 0.225% NSR on all base metal and associated precious metal production; 2. a 10% NSR on 51% of the gold production from the property in excess of 60,000 ounces of gold per year; and 3. under a copper agreement, a price participation royalty on 51% of 40% of each pound of copper production from the property in excess of 130 million pounds of copper produced per annum, multiplied by the spot price, less $1.00 per pound adjusted for inflation (based on 1990 dollars). Amounts are only payable in any year in which the average price of copper during that year exceeds a $1 per pound threshold, as adjusted for inflation (based on 1990 dollars). Franco-Nevada will likely only be paid on the base 0.225% NSR royalty for 2024 as production is expected to be below the royalty threshold level. Robinson received a positive Record of Decision from the Bureau of Land Management in September 2021 for a plan of operations amendment which is estimated to extend the mine life at current production rates until 2028. For Royalty Ounce calculation, Franco-Nevada estimates 100% of the gold and copper Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates an average rate of 0.225% is applicable for gold and 0.1913% for copper (which factors a NSR smelting charge of 15%). Copper has been converted to Royalty Ounces assuming $3.75 per pound ($4.00 per pound in 2022, $3.50 per pound in 2021) Crawford kilometer N Timmins Crawford Annex Crawford Main Zone Resource 455 5 0 Franco-Nevada Corporation ★ 101 TSX / NYSE: FNV Other Mining