Overview 1,2 PRECIOUS METALS ROYALTY OUNCES w vie 4 Asset Asset Type P&P (000s) M&I (000s) Inf (000s) Over South America Candelaria Stream 665 1,586 145 Antapaccay Stream 333 712 32 Antamina Stream 134 522 492 Condestable Stream 85 147 12 Cerro Moro NSR 8 12 4 Salares Norte NSR 39 42 1 Cascabel (Alpala)3 NSR 213 769 127 Posse (Mara Rosa) NSR 9 12 – CentroGold (Gurupi) NSR 11 17 6 Calcatreu NSR – 19 10 Tocantinzinho Stream 204 210 5 Pascua-Lama NSR – 454 19 Volcan NSR – 147 19 San Jorge NSR – 91 4 Central America and Mexico5 Guadalupe-Palmarejo Stream 209 556 110 United States Stillwater NSR 529 886 878 Carlin Trend NSR/NPI 215 354 137 Marigold NSR 70 113 9 Bald Mountain NSR 19 157 18 Mesquite NSR 11 19 9 Castle Mountain NSR 118 159 40 Fire Creek/Midas NSR – 2 83 Hollister NSR – 2 8 Stibnite Gold NSR 82 107 27 Nevada North (Wildcat & Mountain View) NSR – 13 2 Sleeper NSR – 43 26 Sandman NSR – 1 – Canada Detour Lake NSR 399 758 54 Sudbury Stream 24 24 – Hemlo NSR/NPI 64 120 23 Brucejack NSR 37 43 48 Macassa (Kirkland Lake) NSR/NPI 33 64 57 Dublin Gulch (Eagle) NSR 24 43 5 Musselwhite NPI 24 28 3 Timmins West NSR 11 15 2 Gold River NSR – 3 23 Canadian Malartic NSR 25 26 37 Island Gold NSR 9 11 10 Golden Highway - Holt Complex NSR – 131 86 Golden Highway - Hislop NSR – 7 4 Golden Highway - Aquarius NSR – 22 – Greenstone NSR 166 210 92 Valentine Gold NSR 81 119 33 Eskay Creek NSR 109 140 2 Magino NSR 71 137 25 Spences Bridge (Shovelnose) NSR – 13 3 Wawa NSR – 3 7 Kerr-Addison NSR – 18 34 Clarence Stream NSR – 9 13 Red Lake (McFinley) NSR 1 5 3 Courageous Lake NSR 29 112 39 Gold昀椀elds NSR – 20 4 Monument Bay NSR – 44 53 Red Mountain NSR 5 8 1 Fenelon-Martiniere NSR – 37 30 Marathon (Sally) NSR – 5 2 1 For information regarding the calculation of each Royalty Ounce, please refer to the individual asset write-ups. We have assumed $1,950/oz Au, $22.50/oz Ag, $850/oz Pt, $900/oz Pd, $3.75/lb copper, $7.89/lb nickel, $1.21/lb ferrochrome and $115/t Fe 62% CFR China for our calculations 2 Metallurgical deductions have not been made to the Mineral Reserves and Mineral Resources shown in order to estimate metal produced 3 Copper Royalty Ounces assume NSR deductions of 15% (for Sossego please refer to the Vale asset write-up); Nickel Royalty Ounces and Ferrochrome Royalty Ounces assume NSR deductions of 30%. Please also refer to the individual Vale (Northern & Southeastern System) & LIORC asset write-ups for the deductions applied to the Iron Ore Royalty Ounces 4 M&I Royalty Ounces include P&P Royalty Ounces 4 royalty ounces and Inf royalty ounces 5 Cobre Panama, currently on preservation and safe management, is not included in the above calculations. Franco-Nevada estimates that P&P royalty ounces, M&I would be 4,468 koz, 4,673 koz and 745 koz, respectively, as per First Quantum’s March 28, 2023 Annual Information Form as at December 31, 2022 20 ★ Franco-Nevada Corporation TSX / NYSE: FNV
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