G O L D S T R I K E Location: Nevada, United States | Operator: Nevada Gold Mines LLC | Precious Metals: Au | Royalty: NSR: 2-4% / NPI: 2.4-6% Franco-Nevada holds royalties covering the majority of the Nevada Gold Mines LLC (“Nevada Gold Mines”) Goldstrike complex. Carlin Trend 2024 2023 2022 M&I Resources (koz Au)1,2 24,390 26,016 30,894 Inferred Resources (koz Au)1,2 9,268 10,081 8,943 P&P Reserves (koz Au)1,2 15,447 15,772 16,260 M&I Royalty Ounces (000s)1,3 280 354 324 Inferred Royalty Ounces (000s)3 106 137 94 P&P Royalty Ounces (000s)3 177 215 171 1 Please refer to the tables on pages 114-120 for a breakout of grade and tonnages by Mineral Resource category for Carlin Trend; all M&I categories are inclusive of Mineral Reserves 2 Under the Nevada Gold Mines joint venture, Barrick now reports Goldstrike, Gold Quarry and South Arturo as part of the Carlin operation category. Mineral Resources and Mineral Reserves include Goldstrike, Gold Quarry and South Arturo as well as other properties where Franco-Nevada has no royalties or stream interests 3 For Royalty Ounce calculation, Franco-Nevada estimates 28% of the Carlin Trend Mineral Resources and Mineral Reserves (34% in 2023, 35% in 2022) are subject to our royalty interests on Goldstrike, Gold Quarry and South Arturo and estimates an average royalty rate of 4.1% is applicable (4.0% in 2023, 3.0% in 2022) Goldstrike 2024 2023 2022 Total NSR Revenue to FNV ($ million) $ 8.6 $ 4.4 $ 5.5 Total NPI Revenue to FNV ($ million) $ 10.8 $ 8.7 $ 13.7 Total Revenue to FNV ($ million) $ 19.4 $ 13.1 $ 19.2 M&I Resources (koz Au)1 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 above for the Carlin Trend Mineral Resources and Mineral Reserves which include Goldstrike 2 All M&I categories are inclusive of Mineral Reserves 3 Please refer to the table above for the Carlin Trend Royalty Ounce calculation which includes Goldstrike The Goldstrike complex is located on the Carlin Trend, about 60 km northwest of the town of Elko, Nevada and includes the open pit Betze-Post mine, as well as the underground operations of Meikle and Rodeo immediately to the north. Mining activity commenced on the property in 1976 and, since 1987, has been operated by Barrick. Franco-Nevada holds both NSR (2-4%) and NPI (2.4-6%) royalties at Goldstrike covering over 50% of the reported Mineral Reserves. This estimate includes low-grade ore that has been stockpiled. The royalties vary depending on the claim blocks, operating costs and capital investments, as shown in the schematic. As a result, royalty payments can vary substantially on a quarterly basis. On July 1, 2019, Barrick (61.5%) and Newmont (38.5%) combined their significant assets across Nevada to create the Nevada Gold Mines joint venture. Under this joint venture, Goldstrike is reported as part of the Carlin operation category by Barrick. Barrick announced 2024 production of 775,000 gold ounces from its 61.5% share of Carlin interests. Nevada Gold Mines noted that Carlin gold production for 2024 was 11% lower compared to 2023. Franco-Nevada anticipates production on royalty ground in 2025 to be similar to 2024. Barrick has reported 2025 production guidance of 705,000 to 785,000 gold ounces from its 61.5% share of Carlin. Weimer 4% NSR Goldstrike Open Pit Mine Goldstrike Underground Mine Meikle/Rodeo SPLC Lease 6% NPI Bazza 2% NSR Bazza Strip 2% NSR 2.4% NPI Royal 3% NSR Extension 5% NPI 4% NSR Corbett 2% NSR Pandora 2% NSR Rodeo Creek 4% NSR Above 4600’ Post 5% NPI 4% NSR SJ 6% NPI Gold Bug 5% NPI 4% NSR Goldstrike 5% NPI 4% NSR Goldstrike Pacifc Ocean Oregon Idaho Utah Nevada California Arizona Mexico Goldstrike Open Pit Mine FNV Royalties Goldstrike Underground mine Goldstrike 2-4% NSR / 2.4-6% NPI mile 0 1 N World class gold operation Focus asset for Barrick with substantial invested capital Profit royalties provide more leverage to gold prices TSX / NYSE: FNV 62 ★ Franco-Nevada Corporation United States Overview Precious Metals