S O U T H A R T U R O Location: Nevada, United States | Operator: Nevada Gold Mines LLC | Precious Metals: Au | Royalty: GR: 4-9% with AMR South Arturo consists of a series of sediment hosted Carlin-style gold deposits adjacent to and including the former Dee gold mine, 60 km northwest of Elko, Nevada. 2024 2023 2022 Revenue to Franco-Nevada ($ million) $ 6.7 $ 2.4 $ 3.9 M&I Resources (koz Au)1,2 n/a n/a n/a Inferred Resources (koz Au)1 n/a n/a n/a P&P Reserves (koz Au)1 n/a n/a n/a M&I Royalty Ounces (000s)2,3 n/a n/a n/a Inferred Royalty Ounces (000s)3 n/a n/a n/a P&P Royalty Ounces (000s)3 n/a n/a n/a 1 Please refer to the table on page 62 for the Carlin Trend Mineral Resources and Mineral Reserves which include South Arturo 2 All M&I categories are inclusive of Mineral Reserves 3 Please refer to the table on page 62 for the Carlin Trend Royalty Ounce calculation which includes South Arturo The mine is located in close proximity to Nevada Gold Mines’ Goldstrike operations where the ore is processed at the refractory facilities. Franco-Nevada holds a sliding scale gross royalty (4-9%) on production from South Arturo. Franco-Nevada estimates a 4% royalty rate for the oxide mineralization and a 6% royalty rate for the non-oxide. During 2024, mining occurred at the underground, El Niño deposit, and the Phase 1 open pit. Franco-Nevada received 2,756 GEOs in 2024 and expects similar GEOs in 2025. Nevada Gold Mines continues to work on optimizing the life of mine plan for the deposit which will be a combination of open pit and underground mining. The March 2025 Carlin Technical Report shows mining at El Niño completing in 2026 and open pit mining completing in 2027. The El Niño ore is expected to be processed as it is mined while the lower grade open pit ore will be processed over time as processing capacity is available. South Arturo Pacifc Ocean Oregon Idaho Utah Nevada California Arizona Mexico South Arturo 4-9% GR with AMR Royalty Property Pits Excluded from Royalty Exploration Targets Dee Phase 1 Pit Phase 3 Pit Phase 2: Open pit completed El Nino U/G: Currently developing East Dee Target South Hinge Target 4-9% GR 4-9% GR mile 1 0 N Nevada Gold Mines consolidated ownership Close proximity to Goldstrike processing facilities TSX / NYSE: FNV 66 ★ Franco-Nevada Corporation United States Overview Precious Metals