M O N U M E N T B A Y Location: Manitoba, Canada | Operator: ONGold Resources Ltd. | Precious Metals: Au | Royalty: NSR: 2-3% In December 2024, ONGold Resources Ltd. (“ONGold”) acquired the Monument Bay project from Agnico Eagle, who previously acquired the project as part the acquisition of Yamana’s Canadian assets. The Monument Bay project is located in Manitoba, approximately 570 km northeast of Winnipeg adjacent to the Ontario border, and consists of 136 contiguous claims. Franco-Nevada holds a 2% NSR royalty on the first 1.0 million ounces produced and a 3% NSR on any additional production. Yamana acquired the project from Mega Precious Metals Inc. in 2015 and in September 2018, Yamana signed an Exploration Agreement with Red Sucker Lake First Nations in relation to the Monument Bay exploration site. In both 2020 and 2021, Yamana focused on exploring high-grade extensions of the main mineralized structure and on targets surrounding the Twin Lakes shear zone, an area believed to host considerable opportunity for resource expansion. In February 2025, the Red Sucker Lake First Nations invited ONGold to resume exploration on the project and in March 2025, ONGold released a series of high-priority targets that will be the focus of ground exploration efforts in 2025. For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates an average rate of 2.0% is applicable for the first 1.0 million ounces produced and 3.0% on any additional ounces C A R I B O O Location: British Columbia, Canada | Operator: Osisko Development Corp. | Precious Metals: Au | Royalty: NSR: 3% Osisko Development Corp. (“Osisko Development”) is advancing the Cariboo Gold project in east-central British Columbia. Osisko Development started mining the Bonanza Ledge II project, located within the Cariboo Gold project, in Q1 2021. The Bonanza Ledge II Mineral Resource includes the BC Vein, Bonanza Ledge, and KL Zone deposits. Franco-Nevada’s 3% NSR covers the claims to the immediate northeast of Bonanza Ledge, referred to as the KL Zone. Franco-Nevada’s 3% royalty interest also includes the Williams Claims which are about 5 km southeast of Bonanza Ledge. The Bonanza Ledge II project was placed on care and maintenance in June 2022 to prioritize the Cariboo Gold project feasibility study, which was released in January 2023. The study, which does not envision production from the KL Zone, outlined a two-phase ramp up plan. Phase 1 is planned to start in 2025 at 1,500 tonnes per day, yielding 73,000 ounces annually for three years, with Phase 2 starting in 2028, ramping up to 4,900 tonnes per day and 194,000 ounces annually. The project spans a 12-year mine life, with potential to convert additional Inferred Resources located adjacent to reserve blocks and mineralization is open at depth and along strike. Osisko Development expects to complete the Cariboo bulk sample and an optimized feasibility study in Q2 2025. Franco-Nevada has not included Cariboo in Royalty Ounce estimates R E D M O U N T A I N Location: British Columbia, Canada | Operator: Ascot Resources Ltd. | Precious Metals: Au | Royalty: NSR: 1% / Production Payment Franco-Nevada has a 1% NSR as well as a $10/oz production payment on gold produced in excess of 1.85 million ounces from the Red Mountain project near Stewart, B.C. Franco-Nevada acquired the royalty as part of the Barrick royalty portfolio in November 2013. In March 2019, Ascot Resources Ltd. (“Ascot”) acquired IDM Mining and its 100%-owned Red Mountain project and a revised feasibility study was released in April 2020. The study envisioned the feed from four deposits (Big Missouri, Silver Coin, Premier and Red Mountain) being processed at the Premier mill, which is approximately 23 km southeast of the Red Mountain deposit. The Premier mill required refurbishment and expansion as it had been on care and maintenance for over 20 years. The updated feasibility study contemplated Red Mountain ore commencing processing in the second year of operation continuing for approximately seven years and contributing roughly half the ore feed for the mill, or approximately 70,000 ounces per annum in year three to seven. Following the 2020 feasibility study Ascot updated the mining sequence, deferring Red Mountain development until later in the overall mine life of the project. Commercial production of the combined operation was expected in mid-2024, with first gold poured in April 2024 as part of the commissioning process. In September 2024, Ascot made the decision to suspend operations due to delays in mine development that had hindered access to sufficient ore feed. Ore throughput is anticipated to re-commence in August 2025. Franco-Nevada also owns a 2% gross production royalty on all minerals produced on Scottie Resources Corp.’s claims in the Stewart Mining Camp. For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates an average rate of 1.0% is applicable Franco-Nevada Corporation ★ 59 TSX / NYSE: FNV Canada Additional Information Mineral Resources and Mineral Reserves Diversified Assets