South America POSSE (MARA ROSA) Location: Brazil, South America | Operator: Hochschild Mining PLC | Precious Metals: Au | Royalty: NSR: 1% Franco-Nevada holds a 1% NSR royalty on the Posse open pit project located in Mara Rosa in the State of Goiás, Brazil. Hochschild Mining PLC (“Hochschild”) acquired the project through gold ounces in 2024 and Hochschild expects average annual production its acquisition of Amarillo Gold Corporation (“Amarillo”) in April 2022. of approximately 80,000 gold ounces over an initial mine life of 10 years, Hochschild announced that the first gold pour took place on February with approximately 100,000 gold ounces annually over the first four years. 20, 2024, with commercial production expected towards the end of Q2 For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral 2024. Mara Rosa is expected to produce between 83,000 to 93,000 Reserves are subject to our royalty interest and estimates an average rate of 1.0% is applicable CENTROGOLD (GURUPI) Location: Brazil, South America | Operator: BHP Group Limited | Precious Metals: Au | Royalty: NSR: 0-1% Franco-Nevada holds a sliding scale NSR royalty (1% at greater than $400 per ounce gold) on the CentroGold (Gurupi) project located in the State of Maranhão in northern Brazil. BHP Group Limited (“BHP”) acquired the previous operator, OZ Minerals underwent an extensive negotiation and agreement process on a Land Limited (“Oz Minerals”), in 2023. In July 2019, Oz Minerals released an Use Agreement and, in December 2022, the National Institute of updated prefeasibility study on the project which envisioned a 10-year Colonization and Agrarian Reform approved the Land Use Agreement mine life with average annual gold production of 100,000 to 120,000 required for progressing the court injunction removal. ounces of gold per year with 190,000 to 210,000 ounces of gold per year in the first two years of production. There have been challenges For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral Diver Reserves are subject to our royalty interest and estimates an average rate of 1.0% is applicable from a mining license injunction for the property. In 2022, Oz Minerals sified Assets CALCATREU Location: Argentina, South America | Operator: Patagonia Gold PLC | Precious Metals: Au & Ag | Royalty: NSR: 2.5% Franco-Nevada has a 2.5% NSR on the Calcatreu property in Argentina. Calcatreu is an epithermal gold-silver deposit located in the Province project moving forward. During the same period, surface rights covering Mineral Resources and Mineral Reser of Rio Negro. In December 2017, Patagonia Gold PLC (“Patagonia”) a major portion of the current Mineral Resource at Calcatreu were acquired the property from Pan American Silver. The Calcatreu deposit purchased. The new government, national and provincial, took office contains an Indicated Mineral Resource of 669,000 ounces of gold and December 2023 and Patagonia expects that the permitting process will 6.3 million ounces of silver and an Inferred Mineral Resource of 348,000 follow a legislated timeline. ounces of gold and 3.4 million ounces of silver. In 2022, Patagonia held For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral a series of outreach meetings with local communities, authorities and Reserves are subject to our royalty interest and estimates an average rate of 2.5% is applicable. unions presenting an update on activities, to seek input from those groups Silver has been converted assuming $1,950/oz gold and $22.50/oz silver and others which will form a vital part of the permitting process for the SAN JORGE ves Location: Argentina, South America | Operator: Aterra Investments Ltd. and Solway Industries Ltd. | Precious Metals: Au | Royalty: NSR: 7.5% San Jorge is a copper-gold porphyry project located in the Province of Mendoza, Argentina. Additional Inf Aterra Investments Ltd. and Solway Industries Ltd. (“Solway”) acquired in 2021. Franco-Nevada maintains a 7.5% NSR on all gold produced from the property from Coro Mining Corp. in April 2015. Solway reported the property, having acquired the royalty through its acquisition of Lumina prefeasibility results on their website, with annual production of over Royalty Corp. in December 2011. 40,000 tonnes of copper and 40,000 ounces of gold contained in or concentrate over a 16-year life. Franco-Nevada received annual minimum For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral mation Reserves are subject to our royalty interest and estimates an average rate of 7.5% is applicable payments of $1.25 million per year for a 10-year period which ended TSX / NYSE: FNV Franco-Nevada Corporation ★ 37