G O L D Q U A R R Y Location: Nevada, United States | Operator: Nevada Gold Mines LLC | Precious Metals: Au | Royalty: NSR: 7.29% The Gold Quarry operation is part of the Nevada Gold Mines Carlin operations in north-central Nevada. 2024 2023 2022 Revenue to Franco-Nevada ($ million) $ 3.0 $ 3.0 $ 4.9 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 Gold Quarry 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 Gold Quarry Gold Quarry is a large open pit mine that has been in production since 1985 supplying ore as part of an integrated mining and processing complex. In 2019, Barrick (61.5%) and Newmont (38.5%) combined their significant assets across Nevada to create Nevada Gold Mines as a joint venture. Under this joint venture, Barrick reports Gold Quarry under its Carlin operations category and Newmont reports Gold Quarry under its Nevada Gold Mines category. Franco-Nevada’s royalty interest covers only a portion of the Gold Quarry property, as shown in the schematic. The Gold Quarry royalty is a 7.29% NSR based on production, backstopped by three minimum payment obligations. The annual minimum royalty payment calculation is tied to Mineral Reserves and stockpiles attributed to the Gold Quarry royalty property. If reserves, or production levels on royalty ground increase, it is possible Franco-Nevada would return to higher levels of annual royalty payments. Franco-Nevada has received 1,350 GEOs per year since 2021 based on these backstops. In 2025, Franco-Nevada expects to receive 1,350 GEOs due to the cumulative prepaid ounces delivered by Gold Quarry exceeding the attributable Gold Quarry known Mineral Reserves. In the medium term, Franco-Nevada expects its royalty from Gold Quarry to be 1,350 GEOs per annum which represents the lowest level of the minimum payment obligations. kilometers 1 0 N Reserves 7.29% NSR Resources Gold Quarry Pit Outline Tusc Pit Outline >0.3 g/t Au Gold Quarry 7.29% NSR 7.29% NSR FNV Royalties Gold Quarry Pacifc Ocean Oregon Idaho Utah Nevada California Arizona MEXICO Annual minimum payment obligations Benefits from additional milling and roasting infrastructure following the formation of Nevada Gold Mines Registered on private lands TSX / NYSE: FNV 64 ★ Franco-Nevada Corporation United States Overview Precious Metals