E D I K A N Producing Location: Ghana | Operator: Perseus Mining Limited | Precious Metals: Au | Royalty: NSR: 1.5% In 2011, Franco-Nevada acquired an effective 1.5% NSR royalty on Perseus Mining Limited’s (“Perseus”) Edikan gold mine within the Ashanti Gold Belt in Ghana, which includes two mining leases of approximately 93 km 2 . 2025 2024 2023 Revenue to Franco-Nevada ($ million) $ 7.3 $ 7.1 $ 6.1 M&I Resources (koz Au) 1 1,265 1,306 1,634 Inf. Resources (koz Au) 1 336 280 283 P&P Reserves (koz Au) 1 629 506 771 M&I Royalty Ounces (000s) 1,2 19 20 25 Inf. Royalty Ounces (000s) 2 5 4 4 P&P Royalty Ounces (000s) 2 9 8 12 1 Please refer to the tables on pages 126–134 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 1.5% is applicable Edikan is a large-scale, low-grade multi open pit operation, which began commercial production in 2012 with ore being processed through a centralized processing facility. Edikan produced 151,741 oz of gold in 2025, down from 193,066 oz in 2024. Perseus has set a production target of 154–169 koz for their 2026 financial year, which ends June 30, 2026. Perseus has also guided 720–750 koz of gold production over 5-years, as of June 2025, and announced that the mine life for Edikan could extend to 2032 with diversified ore sources in the plan. It is expected that approximately 60% of the metal production in the June 2025 five year plan will come from Edikan, with the remainder coming from the Nkosuo claims. Mining at the Nkosuo prospect, located approximately 10 km from the Edikan mill and not covered by Franco- Nevada’s royalty, commenced in Q4 2024. While this ore is processed at the Edikan mill to increase project life, the operator remains focused on new exploration targets and resource conversion within trucking distance that could potentially fall on royalty ground. Plans to mine cutbacks of the Fetish and Esuajah North pits, both which are covered by the royalty, are currently progressing with applications submitted to the relevant regulators for approval to commence mining at both areas. An updated feasibility study is also underway for the Esuajah South underground deposit, which is covered by the royalty and included in the current five year plan. Edikan, Ghana Exploration License Mining License and Royalty Area Deposit Accra Edikan Ghana N kilometer 10 0 Edikan 1.5% NSR Ayanfuri Mine Licenses Mill Site Esuajah South Esuajah North Fetish Chirawewa Ataasi Mampon Abnabna Fobinso Dadieso 1.5% NSR Y A N D A L ( B R O N Z E W I N G ) Producing Location: Australia | Operator: Northern Star Resources Limited. | Precious Metals: Au | Royalty: NSR: 1.5–2% Bronzewing is situated within the Yandal Greenstone Belt in Western Australia. Franco-Nevada’s royalty encompasses 590 km 2 covering all identified Mineral Resources. 2025 2024 2023 Revenue to Franco-Nevada ($ million) $ 2.5 $ 1.1 $ 0.5 M&I Resources (koz Au) 1 4,029 3,764 3,882 Inf. Resources (koz Au) 1 636 468 518 P&P Reserves (koz Au) 1 1,962 2,143 2,320 M&I Royalty Ounces (000s) 1,2 38 35 36 Inf. Royalty Ounces (000s) 2 6 4 5 P&P Royalty Ounces (000s) 2 17 19 20 1 Please refer to the tables on pages 126–134 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 47% of Mineral Resources and Mineral Reserves (47% in 2024, 47% in 2023) are subject to our royalty interest and estimates a rate of 2.0% is applicable Between 1994 and 2004, Bronzewing produced 2.19 Moz of gold from multiple open pit and underground deposits, followed by an additional 0.19 Moz from open pit operations between 2010 and 2013. Ownership of the project has changed on several occasions since 2013. Most recently, Northern Star Resources acquired Bronzewing in November 2019 through a A$193 million take over. Subsequently, Northern Star invested A$180 million to expand the Thunderbox Mill’s capacity from 3.0–6.0 Mtpa. The expansion was completed in December 2022. Northern Star’s Thunderbox Operations comprise ore from both Bronzewing/Orelia (royalty ground) and Thunderbox/Bannockburn (not royalty ground) being treated through the Thunderbox Mill. Mining activities recommenced at Bronzewing in April 2023 with ore being extracted from the Orelia open pit gold deposit and transported 100 km south to the Thunderbox Mill for processing. In 2025, Northern Star reported total gold production of 222,160 oz at Thunderbox Operations, with approximately 16% of this production subject to Franco-Nevada’s royalty. Franco-Nevada received $2.5 million in royalty revenue from Bronzewing in 2025. Franco-Nevada estimates that 44% of reserves and 47% of resources at Thunderbox Operations are subject to Franco- Nevada’s royalty. The Yandal project also includes the Julius deposit, where Franco-Nevada holds a 1.5% NSR royalty under a separate agreement. In 2021, Northern Star developed Julius as a satellite deposit to the Jundee Gold Mine. Mining ceased at Julius in June 2022, although some stockpile ore remains. Franco-Nevada received $0.3 million in royalty revenue from Julius in 2025. Yandal (Bronzewing) 1.5–2% NSR kilometer 10 0 N Current Royalty Tenements Excluded from Royalty Perth Port Hedland Kalgoorlie Wiluna Leinster Norseman Kambalda Yandal N BRAZIL BOLIVIA PARAGUAY Orelia Exploration potential to further extend current mine life The operator currently has a 7-year mine plan. M&I Resources could support production for 13 years and Inf. Resources for a further 3 years Operating mine Ore transported and processed at a central mill M&I Resources could support production for 18 years and Inf. Resources for a further 3 years TSX / NYSE: FNV Franco-Nevada Corporation ★ 101 100 ★ Franco-Nevada Corporation TSX / NYSE: FNV Rest of World Rest of World