T A C A T A C A Location: Argentina, South America | Operator: First Quantum Minerals Ltd. | Metals: Cu, Au & Mo | Royalty: NSR: 1.08% Franco-Nevada has a 1.08% NSR royalty on all copper, gold and molybdenum produced from Taca Taca which was acquired through the acquisition of Lumina Royalty Corp. in December 2011. 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ − $ – $ – M&I Resource (Mlbs Cu) 1 20,835 20,835 20,835 Inferred Resource (Mlbs Cu) 1 4,863 4,863 4,863 P&P Reserves (Mlbs Cu) 1 17,052 17,052 17,052 M&I Royalty Ounces (000s) 1,2 368 490 437 Inferred Royalty Ounces (000s) 2 86 112 100 P&P Royalty Ounces (000s) 2 301 403 359 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 0.918% is applicable for the copper Royalty Ounces (which factors in 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) The property hosts a very large copper-gold-molybdenum porphyry system and is located in the Puna region of northwestern Argentina in Salta Province, 230 km west of the provincial capital of Salta. The royalty is subject to a buy-back provision. In November 2020, First Quantum filed an updated NI 43-101 technical report and declared a maiden Mineral Reserve of over 7.7 million tonnes of contained copper. First Quantum’s technical report considers an open pit mine plan which contemplates processing throughput of up to 60 million tonnes per annum through a conventional flotation circuit with an initial mine life of approximately 32 years. The Measured and Indicated Mineral Resource is 2,203 million tonnes, grading 0.43% copper, and contains 9,451,000 tonnes of contained copper, 265,000 tonnes of molybdenum and 6,052,000 ounces of gold. The Proven and Probable Mineral Reserve has been estimated at 1,759 million tonnes, grading 0.44% copper, for 7,735,000 tonnes of contained copper, 214,000 tonnes of molybdenum and 5,087,000 ounces of gold. First Quantum is continuing with the project pre-development and feasibility activities. The primary Environmental and Social Impact Assessment (“ESIA”) for the project, which covers the principal proposed project sites, was submitted in 2019 and supplementary submissions on tailings and waste management were filed in 2022. As part of the revision process, the company received a second set of observations to the ESIA in June 2023 and submitted responses in October 2023. Approval of the ESIA is anticipated in 2024 with subsequent proceedings for construction and operations permits along with necessary approvals to follow. In November 2022, the environmental aspects for a 345kV power line development was approved, however it will require detailed construction permits and the final ESIA to be approved. An additional environmental pre-feasibility ESIA was submitted in 2021 for a bypass and access road construction which approval is underway. The project will also require approval of concessions for borefield water supply for the mine. The Phase III groundwater exploration campaign successfully concluded during the second quarter of 2023, with eighteen pumping wells constructed. The initial water use permit applications were submitted during the second quarter of 2023 and granting of the concessions are expected to follow the ESIA approval. Large porphyry deposit with reserve of over 7.7 million tonnes of contained copper and 5.1 million ounces of gold Potentially First Quantum’s next development project Feasibility activities, pre-development and permitting work underway Taca Taca 1.08% NSR kilometer 5 0 N First Quantum 2020 Technical Report Ultimate Pit Design N Arica Iquique Antofagasta La Serena Copiapo NuevaUnión (Relincho) Bolivia Peru Argentina Taca Taca Pacific Ocean Royalty Area 1.08% NSR 1.08% NSR TSX / NYSE: FNV 96 ★ Franco-Nevada Corporation Other Mining