P O S S E ( M A R A R O S A ) 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 its acquisition of Amarillo Gold Corporation (“Amarillo”) in April 2022. Hochschild announced that the first gold pour took place on February 20, 2024, with commercial production expected towards the end of Q2 2024. Mara Rosa is expected to produce between 83,000 to 93,000 gold ounces in 2024 and Hochschild expects average annual production of approximately 80,000 gold ounces over an initial mine life of 10 years, with approximately 100,000 gold ounces annually over the first four years. For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates an average rate of 1.0% is applicable C A L C A T R E U 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 of Rio Negro. In December 2017, Patagonia Gold PLC (“Patagonia”) acquired the property from Pan American Silver. The Calcatreu deposit contains an Indicated Mineral Resource of 669,000 ounces of gold and 6.3 million ounces of silver and an Inferred Mineral Resource of 348,000 ounces of gold and 3.4 million ounces of silver. In 2022, Patagonia held a series of outreach meetings with local communities, authorities and unions presenting an update on activities, to seek input from those groups and others which will form a vital part of the permitting process for the project moving forward. During the same period, surface rights covering a major portion of the current Mineral Resource at Calcatreu were purchased. The new government, national and provincial, took office December 2023 and Patagonia expects that the permitting process will follow a legislated timeline. For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates an average rate of 2.5% is applicable. Silver has been converted assuming $1,950/oz gold and $22.50/oz silver S A N J O R G E 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. Aterra Investments Ltd. and Solway Industries Ltd. (“Solway”) acquired the property from Coro Mining Corp. in April 2015. Solway reported prefeasibility results on their website, with annual production of over 40,000 tonnes of copper and 40,000 ounces of gold contained in concentrate over a 16-year life. Franco-Nevada received annual minimum payments of $1.25 million per year for a 10-year period which ended in 2021. Franco-Nevada maintains a 7.5% NSR on all gold produced from the property, having acquired the royalty through its acquisition of Lumina Royalty Corp. in December 2011. For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates an average rate of 7.5% is applicable C E N T R O G O L D ( G U R U P I ) 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 Limited (“Oz Minerals”), in 2023. In July 2019, Oz Minerals released an updated prefeasibility study on the project which envisioned a 10-year mine life with average annual gold production of 100,000 to 120,000 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 from a mining license injunction for the property. In 2022, Oz Minerals underwent an extensive negotiation and agreement process on a Land Use Agreement and, in December 2022, the National Institute of Colonization and Agrarian Reform approved the Land Use Agreement required for progressing the court injunction removal. For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates an average rate of 1.0% is applicable Franco-Nevada Corporation ★ 37 TSX / NYSE: FNV South America