P R E C I O U S M E T A L S R O Y A L T Y O U N C E S 1 , 2 (M&I Royalty Ounces are inclusive of P&P Royalty Ounces) Asset Asset Type P&P (000s) M&I4 (000s) Inf (000s) South America Candelaria Stream 643 1,638 115 Antapaccay Stream 279 656 29 Antamina Stream 339 481 467 Condestable Stream 72 185 18 Tocantinzinho Stream 203 218 3 Cerro Moro NSR 6 9 3 Yanacocha NSR 148 588 184 Salares Norte NSR 39 41 – Cascabel (Alpala)³ Stream/NSR 1,018 2,527 366 Posse (Mara Rosa) NSR 9 10 2 CentroGold (Gurupi) NSR – 18 8 Calcatreu NSR – 18 10 Pascua-Lama NSR – 494 20 Volcan NSR – 147 19 San Jorge NSR – 91 4 Central America and Mexico5 Guadalupe-Palmarejo Stream 236 693 184 Canada Detour Lake NSR 381 686 132 Sudbury Stream 24 24 – Hemlo NSR/NPI 85 180 33 Brucejack NSR 23 30 37 Kirkland Lake NSR/NPI 32 66 59 Greenstone NSR 171 238 83 Magino NSR 60 117 35 Eagle NSR 24 43 5 Musselwhite NPI 35 42 4 Timmins West NSR 7 8 2 Gold River NSR – 3 23 Canadian Malartic NSR 24 27 46 Island Gold NSR 11 13 11 Golden Highway - Holt Complex NSR – 131 86 Golden Highway - Hislop NSR – 7 4 Golden Highway - Aquarius NSR – 17 – Valentine Gold NSR 81 119 33 Eskay Creek NSR 108 139 2 Spences Bridge (Shovelnose) NSR – 13 3 Wawa NSR – 13 13 Kerr-Addison NSR – 33 24 Clarence Stream NSR – 9 13 Red Lake (McFinley) NSR 1 5 3 Courageous Lake NSR 29 112 40 Goldfields NSR – 20 4 Monument Bay NSR – 44 53 Red Mountain NSR 5 8 1 Fenelon-Martiniere NSR – 37 30 Marathon (Sally) NSR – 4 2 United States Stillwater NSR 284 570 615 Carlin Trend NSR/NPI 177 280 106 Bald Mountain NSR 23 119 14 Marigold NSR 60 95 5 Mesquite NSR 9 34 17 Castle Mountain NSR 118 159 40 Fire Creek/Midas NSR – 3 87 Hollister NSR – 2 9 Stibnite NSR 93 123 31 Nevada North (Wildcat & Mountain View) NSR – 13 2 Sleeper NSR – 43 26 Sandman NSR – 1 – 1 For information regarding the calculation of each Royalty Ounce, please refer to the individual asset write-ups. We have assumed $2,800/oz Au, $31/oz Ag, $950/oz Pt, $950/oz Pd, $4.25/lb copper, $7.89/lb nickel, $1.25/lb ferrochrome and $100/t Fe 62% CFR China for our calculations 2 Metallurgical deductions have not been made to the Mineral Resources and Mineral Reserves 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 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&I4 royalty ounces and Inf royalty ounces would be 4,153 koz, 4,738 koz and 736 koz, respectively, as per First Quantum’s March 28, 2024 Annual Information Form as at December 31, 2023 6 If Cobre Panama is included the Total Royalty Ounces would be 11.4M P&P Royalty Ounces ($31.8B at $2,800/oz), 21.0M M&I Royalty Ounces ($58.8B at $2,800/oz), 5.5M Inf Royalty Ounces ($15.4B at $2,800/oz) TSX / NYSE: FNV 18 ★ Franco-Nevada Corporation Overview Overview