T I M M I N S W E S T Location: Ontario, Canada | Operator: Pan American Silver Corp. | Precious Metals: Au | Royalty: NSR: 2.25% Franco-Nevada’s Timmins West 2.25% NSR royalty covers a large land package of approximately 130 km 2 to the west of the City of Timmins, Ontario. 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 4.1 $ 3.2 $ 3.2 M&I Resources (koz Au) 1 652 675 675 Inferred Resources (koz Au) 1 79 24 24 P&P Reserves (koz Au) 1 467 541 541 M&I Royalty Ounces (000s) 1,2 15 15 15 Inferred Royalty Ounces (000s) 2 2 1 1 P&P Royalty Ounces (000s) 2 11 12 12 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 2.25% is applicable The Timmins West property hosts the Timmins, Thunder Creek and 144 Gap deposits as well as the Gold River Trend exploration zone. Franco- Nevada acquired the royalty from Lake Shore Gold Corp. (“Lake Shore Gold”) in 2012, after Lake Shore Gold put the property into full commercial production in 2011. Lake Shore Gold was acquired by Tahoe Resources Inc. (“Tahoe Resources”) in April 2016, which was subsequently acquired by Pan American Silver Corp. (“Pan American Silver”) in February 2019. Under Pan American Silver, public reporting for both the Timmins West and Bell Creek underground mines has been consolidated into its Timmins operations (Franco-Nevada does not have a royalty on Bell Creek). Franco-Nevada estimates that Timmins West represented approximately 60% of the Timmins operations production in 2023. Pan American Silver produced 132,900 ounces of gold from its Timmins operations in 2023 versus 134,600 ounces of gold in 2022. Pan American expects to produce between 125,000 to 135,000 ounces of gold from its Timmins operations in 2024. Ore from both the Timmins West and Bell Creek mines is processed at the Bell Creek mill. Pan American Silver holds a significant land position in the Timmins Camp and exploration success has extended mine life with potential for exploration upside in the future. Bell Creek Mine & Mill Destor-Porcupine Fault Burrows Benedict Fault Mattagami River Fault Bell Creek Complex Timmins Deposit Thunder Creek Deposit Gold River Trend 144 Gap Zone Deposit Timmins West Timmins Dome Mine Hollinger McIntyre Hoyle Pond Pamour Mine Quebec Ontario Timmins West Timmins West 2.25% NSR kilometer 20 0 N Deposits UG Mine Shaft Excluded from Royalty FNV Royalties 101 2.25% NSR Steady production levels Exploration success has extended the mine life Large land package providing exploration upside TSX / NYSE: FNV 62 ★ Franco-Nevada Corporation Canada