D E T O U R L A K E Location: Ontario, Canada | Operator: Agnico Eagle Mines Limited | Precious Metals: Au | Royalty: NSR: 2% Franco-Nevada has a 2% NSR royalty that covers an area of 140 km2 of the Abitibi greenstone belt located 185 km northeast of Cochrane, Ontario including the Detour Lake mine. 2024 2023 2022 Revenue to Franco-Nevada ($ million) $ 31.9 $ 25.9 $ 26.3 M&I Resources (koz Au)1 34,310 37,883 38,638 Inferred Resources (koz Au)1 6,605 2,717 1,156 P&P Reserves (koz Au)1 19,051 19,928 20,683 M&I Royalty Ounces (000s)1,2 686 758 773 Inferred Royalty Ounces (000s)2 132 54 23 P&P Royalty Ounces (000s)2 381 399 414 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 2.0% is applicable From 1983 through 1999, Placer Dome Inc. operated an underground mine on the property producing approximately 1.8 million ounces of gold. Detour Gold Corporation (“Detour Gold”) drilled out a large open pittable resource and developed the current open pit mine with first production in 2013. Kirkland Lake Gold Ltd. (“KLG”) acquired Detour Gold in 2020 and Agnico Eagle Mines Limited (“Agnico Eagle”) and KLG merged in February 2022, with the combined company continuing as Agnico Eagle. Franco-Nevada’s royalty includes all the Mineral Resources and Mineral Reserves on the property, except Detour Lake Zone 58N (approximately 0.67 million ounces) which sits to the south of the main mineralized trend. Production at Detour Lake was 671,950 ounces of gold in 2024, compared with 677,446 ounces of gold in 2023. Production for Detour Lake is anticipated to be between 705,000 to 735,000 ounces of gold per year in 2025, 720,000 to 750,000 ounces in 2026 and 630,000 to 660,000 ounces in 2027. Agnico Eagle reported that the mill successfully achieved throughput of 28 million tonnes per annum in Q4 2024 and is targeting 29 million tonnes per annum by 2028. In June 2024, Agnico Eagle released the results of a technical study reflecting the potential for a concurrent underground operation at Detour Lake which would extend the life of mine to 2054. Average annual gold production is expected to be approximately 708,000 ounces per year between Q2 2024 and 2029, increasing to 1,011,000 ounces per year from 2030 to 2043 when the underground is in production. Processing of stockpiles between 2044 and 2054 will average 314,000 ounces per year, with upside potential for additional underground mineral resources to be added along the western plunge of the deposit. In Q4 2024, Agnico Eagle completed site preparation for the excavation of the underground exploration ramp, which is expected to commence in H1 2025. KLG and Agnico Eagle have both had tremendous exploration success drilling extensions of the Detour Lake deposit. Total Mineral Resources have expanded from 21.9 million ounces at year end 2020 to 40.9 million ounces at year end 2024. Exploration priorities for 2025 include continued drilling to de-risk the Detour Lake underground project. Conversion drilling in 2024 resulted in an upgrade of the underground mineral resource at year-end. Detour Lake, Ontario Ongoing exploration success Average production of 1 Moz of gold per year from 2030 to 2043 Upside potential for additional underground resources Franco-Nevada Corporation ★ 41 TSX / NYSE: FNV Canada Additional Information Mineral Resources and Mineral Reserves Diversified Assets