D U K E T O N Location: Australia | Operator: Regis Resources Ltd. | Precious Metals: Au | Royalty: NSR: 2% Franco-Nevada has a 2% NSR royalty that covers 2,678 km 2 of the Duketon gold project in Western Australia. 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 12.0 $ 10.7 $ 11.1 M&I Resources (koz Au) 1 1,850 4,120 3,950 Inferred Resources (koz Au) 1 610 1,030 610 P&P Reserves (koz Au) 1 950 1,400 1,990 M&I Royalty Ounces (000s) 1,2 31 71 72 Inferred Royalty Ounces (000s) 2 11 16 11 P&P Royalty Ounces (000s) 2 17 25 37 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 88% (88% in 2022, 93% in 2021) of Mineral Reserves and 84% of the Mineral Resources (86% in 2022, 91% in 2021) are subject to our royalty interest and estimates a rate of 2.0% is applicable The project is operated by Regis Resources Ltd. (“Regis”) and includes eight operating mines and multiple satellite deposits at various stages of development. The royalty covers all known Mineral Resources and Mineral Reserves, except for the Gloster, Ben Hur and Anchor satellite deposits and portions of the Erlistoun, Dogbolter and Petra satellite deposits. Regis reported production of 313,956 ounces of gold for 2023 and provided production guidance of 280,000 to 305,000 ounces of gold for the fiscal year ending June 30, 2024. During 2023, approximately 96% of total Duketon production was subject to Franco-Nevada’s royalty and a similar portion is expected in 2024. Duketon South Operations (“DSO”): Regis reported DSO production of 251,273 ounces of gold for calendar year 2023. All of DSO production was subject to Franco-Nevada’s royalty in 2023. DSO has five operating mines, with open pit mines at Garden Well, Ben Hur and Russell’s Find, along with underground mines at Rosemont and Garden Well. Franco- Nevada’s royalty covers all of DSO’s Mineral Resources and Mineral Reserves, except for Ben Hur and a small portion of Erlistoun. DSO production began in 2012 at Garden Well which has a 5 Mt per annum plant. Rosemont has a 2.5 Mt per annum plant and milled ore from Rosemont is piped 10 km in a slurry form for leaching at Garden Well. Ore from other satellite deposits is hauled to Garden Well for processing. Garden Well South Underground achieved commercial production in 2023. Garden Well Main Underground exploration decline completed in 2023. Duketon North Operations (“DNO”): Regis reported DNO production of 62,683 ounces of gold for calendar year 2023. DNO had three operating mines in 2023 – Moolart Well, Gloster and Dogbolter. Moolart Well is covered by Franco-Nevada’s royalty, Gloster is outside the royalty area, and Dogbolter is partly within the royalty area. The 2.5Mtpa mill at Moolart Well has been in production since 2010. Approximately 80% of DNO production was subject to Franco-Nevada’s royalty in 2023. All open pit mining at DNO will cease at June 2024. Exploration: Focus is underground reserve and resource development. Garden Well Main exploration decline completed.and exploration drilling commenced. Rosemont Underground drilling continued to infill and extend higher grade lodes. Commercial production at Garden Well underground Garden Well Main exploration decline complete Focus on underground reserve development Open pit mining at Duketon North scheduled to end at June 2024 * Additional royalty lands to south not shown due to scale. Baneygo Erlistoun King John Garden Well Dogbolter Gloster Moolart Well Petra Rosemont Reichelts Find Russells Find Tooheys Well 2% NSR 2% NSR Perth Port Hedland Kalgoorlie Norseman Kambalda N Duketon BRAZIL BOLIVIA PARAGUAY Current Royalty Tenements Original Royalty Tenements Deposits Excluded from Royalty N kilometer 30 0 Duketon 2% NSR Franco-Nevada Corporation ★ 79 TSX / NYSE: FNV Rest of World