M T K E I T H Location: Australia | Operator: BHP Group Limited | Metals: Ni | Royalty: NPI: 0.25% / GR: 0.375% Franco-Nevada has a 0.375% gross royalty and a 0.25% NPI royalty on lands including the Mt Keith nickel operation in Western Australia, located 460 km north of Kalgoorlie. Franco-Nevada’s royalties cover 236 km2 and include all of Mt Keith, the Jericho Nickel deposit located approximately 25 km northwest of Mt Keith, and part of the Yakabindie deposits located approximately 25 km south of Mt Keith. Mt Keith open pit was in production from 1993 until October 2024, when BHP suspended all Western Australia Nickel operations due to low nickel prices. BHP intends to review the decision in February 2027. Mt Keith concentrator ore throughput is approximately 10.5 million tonnes per annum with 70% recoveries. Production capacity is 35,000 to 40,000 tonnes per annum of nickel in concentrate. 4.1 million tonnes of contained nickel resources remain at Mt Keith, Jericho and Yakabindie. 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 0.50% is applicable. Franco-Nevada has also applied a NSR smelting charge of 30%. Nickel has been converted to Royalty Ounces assuming $7.89 per pound ($7.89 per pound in 2023, $11.00 per pound in 2022) Franco-Nevada Corporation ★ 99 TSX / NYSE: FNV Other Mining Additional Information Mineral Resources and Mineral Reserves