C O P P E R C R E E K Location: Arizona, United States | Operator: Faraday Copper Corp. | Metals: Cu, Mo & Ag | Royalty: NSR: 1% and Production Decision Royalty Payments Copper Creek is a 3-kilometer-long porphyry copper deposit located in Pinal County, less than two hours northeast of Tucson, Arizona. Payment of $3,000,000 ($500,000 per year over 6 years) is due to Franco-Nevada following achievement of commercial production of minerals within a 5-mile radius of certain patented claims now held by Faraday Copper Corp. (Faraday). The Copper Creek mineral resource area is within this 5-mile radius and would therefore be expected to trigger such payments upon production. A 1% NSR is payable to Franco-Nevada on all production from certain areas within Faraday’s control. The royalty covers approximately 70% of the Globe and 50% of the Copper Prince open pit resources as reported in Faraday’s Preliminary Economic Assessment (PEA) released in May 2023. The Globe resource contains 9.88 Mt of sulphide/transitional ore at 0.40% Cu and 2.71 Mt of oxide ore at 0.37% Cu. The Copper Prince resource contains 20.72 Mt of sulphide/ transitional ore at 0.45% Cu and 5.89 Mt of oxide ore at 0.36% Cu. The 2023 PEA reported 4.2 billion pounds of copper in Measured and Indicated Mineral Resources. The PEA has a 32-year mine life with average production of 51,100 payable CuEq tonnes per year during active mining. Capital investment is estimated at $798 million with a two-year construction period. The Globe and Copper Prince open pit deposits are currently scheduled to be mined within the first three years of operations. Faraday is currently performing baseline environmental monitoring and data collection to support the permitting process. Faraday is also performing an assessment and classification of waterways for a 404 permit. In 2024, Faraday plans on completing the Phase III exploration drill program focused on resource expansion and testing new targets, metallurgical programs to support coarser grind and tailings optimization and a gold assay program to support the inclusion of gold in future resource updates and project economics. Franco-Nevada has not included Copper Creek in Royalty Ounce estimates M I L P I L L A S Location: Mexico | Operator: Industrias Peñoles, S.A.B. de C.V. | Metals: Cu | Royalty: Production Payment Franco-Nevada has a production payment royalty on the Milpillas copper mine in Sonora, Mexico operated by Industrias Peñoles, S.A.B. de C.V. (“Peñoles”). The royalty is $0.04/lb of copper produced, if the price of copper is above $1.20/lb. The royalty ground covers an estimated 30 km 2 . The project is an underground copper mine and heap leach operation and was acquired by Franco-Nevada in September 2020 as part of a portfolio of 24 royalties from Freeport-McMoRan Inc. Production resumed in mid-2022 after active mining was paused due to low copper prices in Q2 2020. In 2023 Franco-Nevada received $1.1 million in royalty payments from Milpillas. Franco-Nevada has not included Milpillas in Royalty Ounce estimates E A G L E P I C H E R Location: Nevada, United States | Operator: US Silica | Metals: De | Royalty: Production Payment EaglePicher is a diatomaceous earth operation in Pershing County, Nevada, located about 23 miles northwest of Lovelock. The royalty is based on a fixed payment per ton which fluctuates based on the average sales price from the prior year’s sales. The royalty covers approximately 15 km 2 of checkerboard lands. The intervening lands are public and EaglePicher holds unpatented placer claims on those lands as needed for mining. The mine has been in continuous operation since the 1950s with approximately 65% of production coming from Franco-Nevada land. The revenue received from EaglePicher in 2022 and 2023 was $319,000 and $424,000, respectively. Franco-Nevada has not included EaglePicher in Royalty Ounce estimates TSX / NYSE: FNV 102 ★ Franco-Nevada Corporation Other Mining