T A C A T A C A Location: Argentina, South America | Operator: First Quantum Minerals Ltd. | Metals: Cu, Au & Mo | Royalty: NSR: 1.08% Franco-Nevada has a 1.08% NSR royalty on all copper, gold and molybdenum produced from Taca Taca which was acquired through the acquisition of Lumina Royalty Corp. in December 2011. The royalty is subject to a buy-back provision based on the value of the reserves. 2024 2023 2022 Revenue to Franco-Nevada ($ million) $ − $ − $ – M&I Resource (Mlbs Cu)1 20,835 20,835 20,835 Inferred Resource (Mlbs Cu)1 4,863 4,863 4,863 P&P Reserves (Mlbs Cu)1 17,052 17,052 17,052 M&I Royalty Ounces (000s)1,2 356 368 490 Inferred Royalty Ounces (000s)2 81 86 112 P&P Royalty Ounces (000s)2 293 301 403 1 Please refer to the tables on pages 114-120 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 0.918% is applicable for the copper Royalty Ounces (which factors in a NSR smelting charge of 15%). Copper has been converted to Royalty Ounces assuming $4.25 per pound ($3.75 per pound in 2023, $4.00 per pound in 2022) The property hosts a very large copper-gold-molybdenum porphyry system and is located in the Puna region of northwestern Argentina in Salta Province, 230 km west of the provincial capital of Salta. The royalty is subject to a buy-back provision. In November 2020, First Quantum filed an updated NI 43-101 technical report and declared a maiden Mineral Reserve of over 7.7 million tonnes of contained copper. The technical report considers an open pit mine plan which contemplates processing throughput of up to 60 million tonnes per annum through a conventional flotation circuit with an initial mine life of approximately 32 years. The Measured and Indicated Mineral Resource is 2,203 million tonnes, grading 0.43% copper, and contains 9,451,000 tonnes of copper, 265,000 tonnes of molybdenum and 6,052,000 ounces of gold. The Proven and Probable Mineral Reserve has been estimated at 1,759 million tonnes, grading 0.44% copper, for 7,735,000 tonnes of contained copper, 214,000 tonnes of molybdenum and 5,087,000 ounces of gold. The 2024 Argentinian incentive regime for large investments (Régimen de Incentivo para Grandes Inversiones or RIGI) has a two-year window to apply. The legislation provides special foreign exchange provisions and tax and customs incentives, focusing on predictability, stability, and legal certainty across various sectors, including mining. First Quantum is currently preparing an update of the NI 43-101 Technical Report and plans to submit an application for the RIGI regime. First Quantum is also continuing with the project pre-development and feasibility activities. The project’s primary Environmental and Social Impact Assessment (“ESIA”) continues to be under evaluation by the Secretariat of Mining of Salta Province. Key milestones such as an independent evaluation from SEGEMAR (Argentinian Geological and Mining Service) were completed during the fourth quarter of 2024, which included a workshop and site visit. Following a decision on the ESIA, subsequent proceedings for detailed construction and operation permits will continue. A pre-feasibility ESIA was submitted in 2021 for a bypass and access road construction which approval is underway. The environmental aspects for a 345 kilovolts power line development was approved in 2022, and First Quantum is advancing additional technical aspects required for the ESIA. The project will also require approval of concessions for borefield water supply for the mine, which applications for industrial water concessions were submitted in 2023 and are expected to be granted following the approval of the mining ESIA. Taca Taca 1.08% NSR kilometer 5 0 N First Quantum 2020 Technical Report Ultimate Pit Design N Arica Iquique Antofagasta La Serena Copiapo NuevaUnión (Relincho) Peru Argentina Taca Taca Pacifc Ocean Royalty Area 1.08% NSR 1.08% NSR Large porphyry deposit with reserve of over 7.7 Mt of contained copper and 5.1 Moz of Au Potentially First Quantum’s next development project Feasibility activities, pre-development and permitting work underway TSX / NYSE: FNV 92 ★ Franco-Nevada Corporation Other Mining Overview Precious Metals Diversified Assets