S É G U É L A Location: Côte d’Ivoire | Operator: Fortuna Silver Mines Inc. | Precious Metals: Au | Royalty: NSR: 1.2% Franco-Nevada holds a 0.6% NSR on the Séguéla gold mine, owned and operated by Fortuna Silver Mines Inc. (“Fortuna”). 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 1.4 $ − $ − M&I Resources (koz Au) 1 1,535 1,611 1,328 Inferred Resources (koz Au) 1 245 960 104 P&P Reserves (koz Au) 1 1,154 1,088 1,088 M&I Royalty Ounces (000s) 1,2 9 19 16 Inferred Royalty Ounces (000s) 2 2 12 1 P&P Royalty Ounces (000s) 2 7 13 13 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 0.6% is applicable (1.2% NSR in 2022, 1.2% NSR in 2021) In March 2021, Franco-Nevada acquired a 1.2% NSR from Roxgold Inc. (“Roxgold”) on the license covering its Séguéla open-pit gold project located in Côte d’Ivoire. The royalty was subject to a buy-back of up to 50% and in March 2024, Fortuna elected to execute this buy-back for the full 50%. In May 2021, Roxgold released the results of a feasibility study that outlined a 9-year open-pit mine producing an average of 120,000 ounces of gold per year. In July 2021, Fortuna acquired Roxgold Inc. In September 2021, Fortuna announced a positive construction decision for Séguéla, and first gold was poured in May 2023. Fortuna reported that Séguéla contributed over 78,600 gold ounces in 2023, exceeding the upper range of its 2023 production guidance. Fortuna also indicated that it had upgraded 206,000 ounces of gold related to the Sunbird deposit from Indicated Mineral Resources to Probable Reserves. Feasibility and optimization work is underway to incorporate underground mineable resources at the Sunbird, Ancien, and Koula deposits. The 2024 mine plan considers mining in the Antenna, Ancien, and Koula pits, with plans to process 1.46 million tonnes of ore averaging 3.0 g/t Au, and capital investments estimated at $39.8 million, including $32 million for sustaining capital expenditures and $7.8 million for Brownfields exploration programs. Seguela is projected to produce between 126 koz to 138 koz of gold in 2024. Process plant de-bottlenecking initiatives in 2024 still present upside opportunities for throughput capacity. In 2023, exploration focused on the Sunbird deposit and the Badior prospect. In March 2024, Fortuna announced the discovery of the Kingfisher prospect at the Séguéla mine, covered by Franco-Nevada’s royalty, with further work planned for the remainder of 2024. Séguéla 1.2% NSR kilometer 5 0 N Vincho UG Raul UG Ancien Agouti Boulder Winy Gabbro W Antenna South Antenna North Antenna West P1 Kwenko Siakasso N P7 P2 Kwenko W Koula Antenna Sunbird Schist Resource Pit Target Target Strat Séguéla NSR Area Pelite First gold pour in 2023 Exploration upside on land package covered by royalty Franco-Nevada Corporation ★ 73 TSX / NYSE: FNV Rest of World