Iron Ore Mineral Resources – Inclusive of Mineral Reserves Measured (M) Indicated (I) Iron Ore Inferred Mineral Resources Notes Tonnes 000s Grade % Fe Tonnes 000s Grade % Fe Tonnes 000s Grade % Fe Vale (Northern & Southeastern System) 1,151 8,316,000 52.7 10,720,300 53.0 4,709,000 43.9 LIORC 1,152,153 523,000 39.3 1,229,000 39.0 662,000 39.0 Total Iron Ore Mineral Resources 8,839,000 11,949,300 5,371,000 Iron Ore Mineral Reserves Proven Probable Proven and Probable Notes Tonnes 000s Grade % Fe Tonnes 000s Grade % Fe Tonnes 000s Grade % Fe Vale (Northern & Southeastern System) 151 2,873,600 59.2 5,182,600 59.8 8,056,300 59.6 LIORC 152,153 352,000 39.0 571,000 39.0 923,000 39.0 Total Iron Ore Mineral Reserves 3,225,600 5,753,600 8,979,300 N O T E S A N D S O U R C E S 1 Mineral Resources reported by operator exclusive of Mineral Reserves. Franco-Nevada’s Qualified Person determined the inclusive Mineral Resources by adding the exclusive Measured and Indicated Mineral Resources to the Proven and Probable Reserves 2 Mineral Resources and Mineral Reserves are reported by the operator in non-metric units. Franco-Nevada’s Qualified Person calculated the metric conversion using 1 opt = 34.286 g/t, 1 short ton = 0.9072 metric tonnes, 1 oz = 31.1035 g 3 Lundin Mining Corporation; News Release, February 18, 2026 4 The stream agreement applies to 100% of the property, but only with respect to the ownership interest of Lundin Mining Corporation which indirectly owns 80% of the Candelaria Copper Mining Complex 5 Glencore plc; Resources & Reserves as at December 31, 2025 6 G Mining Ventures Corp.; News Release, March 12, 2026 7 Rio2 Limited; Corporate Presentation, December 8, 2025 8 Newmont Corporation; News Release, February 19, 2026 9 Newmont Corporation; News Release, February 19, 2026 10 Gold Fields Limited; Mineral Resources and Mineral Reserves Supplement to the Integrated Annual Report 2024, March 31, 2025 11 Vale S.A.; Form 20-F, March 28, 2025. Details of Vale’s Participating Debentures are available on Vale’s website 12 Pan American Silver Corp.; News Release, September 11, 2025 & Corporate Website 13 SolGold plc; Annual Information Form, September 24, 2025 (Alpala & Tandayama America Underground) & News Release, November 26, 2025 (Tandayama America Open Pit) 14 Hochschild Mining PLC; News Release, March 11, 2026 15 First Quantum Minerals Ltd.; Taca Taca Project NI 43-101 Technical Report, February 19, 2026 16 G Mining Ventures Corp.; Corporate Presentation, March 2026 17 Patagonia Gold Corp.; MD&A, November 27, 2025 18 Minera San Jorge SA; Disclosure to Franco-Nevada Corporation, Mineral Resource Estimate Update for the San Jorge Deposit, March 9, 2026 19 Barrick Gold Corporation; Management’s Discussion and Analysis (“MD&A”) Fourth Quarter and Full Year 2025, February 5, 2026 20 Hochschild Mining PLC; News Release, March 11, 2026 21 Coeur Mining, Inc.; Corporate Presentation, February 23, 2026 22 Barrick Gold Corporation; Management’s Discussion and Analysis (“MD&A”) Fourth Quarter and Full Year 2025, February 5, 2026. Carlin Trend includes Goldstrike, Gold Quarry and South Arturo as well as other properties where Franco-Nevada has no royalties or stream interests 23 Kinross Gold Corporation; News Release, February 18, 2026 24 SSR Mining Inc.; Mineral Reserve and Resource Tables as of December 31, 2025, February 17, 2026 25 Equinox Gold Corp.; Corporate Presentation, February 2026 26 Equinox Gold Corp.; Corporate Presentation, February 2026 • All Mineral Resources and Mineral Reserves have been calculated in accordance with CIM or Acceptable Foreign Codes for the purposes of NI 43-101, including Regulation S-K 1300, JORC, or SAMREC guidelines • Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability • Unless otherwise noted, Mineral Resources were reported by the operator inclusive of Mineral Reserves • Contained metal does not take into account recovery losses • Franco-Nevada’s royalties or stream interests may not cover the operator’s entire property or all estimated Mineral Resources and Mineral Reserves or a combination of both • The grade of platinum group elements has been reported by the operators as either the sum of the individual platinum group elements grades or the individual grades. In the cases where individual platinum group element grades have been reported, Franco-Nevada’s Qualified Person has calculated the sum of the platinum group element grades for presentation purposes • Mineral Resources and Mineral Reserves based on publicly disclosed information available as of March 12, 2026 but includes assets subsequently acquired by Franco-Nevada • The MRMR statement might have excluded depletion prior to this year’s reporting • Rows and columns may not total precisely due to rounding • Inferred Resources are in addition to Measured and Indicated Resources, as described in the “Technical and Third-Party Information” section on page 144 of this Asset Handbook 27 Hecla Mining Company; News Release, February 13, 2026 28 Hecla Mining Company; News Release, February 13, 2026 29 Perpetua Resources Corp., Form 10-K, April 2, 2025 30 Borealis Mining Company Ltd. & Gold Bull Resources Corp.; News Release, December 10, 2024 31 KGHM Polska Miedź S.A.; Mineral Resources and Reserves Report, December 31, 2014 32 Integra Resources Corp.; Corporate Presentation, February 2026 33 Paramount Gold Nevada Corp.; Form 10-K; September 25, 2025 34 AngloGold Ashanti plc; Q4 2025 & Full Year Earnings Release, February 20, 2026 35 i-80 Gold Corp.; Corporate Presentation, March 2026 36 i-80 Gold Corp.; Corporate Presentation, March 2026 37 i-80 Gold Corp.; Corporate Presentation, March 2026 38 i-80 Gold Corp.; Corporate Presentation, March 2026 39 i-80 Gold Corp.; Corporate Presentation, March 2026 40 Agnico Eagle Mines Limited; News Release, February 12, 2026 41 Hemlo Mining Corp.; Corporate Presentation, February 2026 42 IAMGOLD Corporation; New Release, February 17, 2026 43 Discovery Silver Corp.; Investor Day Presentation, March 2, 2026 44 Discovery Silver Corp.; Investor Day Presentation, March 2, 2026 45 Discovery Silver Corp.; Investor Day Presentation, March 2, 2026 46 Discovery Silver Corp.; Investor Day Presentation, March 2, 2026 47 Equinox Gold Corp.; Corporate Presentation, February 2026 48 Agnico Eagle Mines Limited; News Release, February 12, 2026 49 Orla Mining Ltd.; Corporate Presentation, March 2026 50 Magna Mining Inc.; Corporate Presentation, March 2026 51 Newmont Corporation; News Release, February 19, 2026 52 Alamos Gold Inc.; News Release, February 17, 2026 53 Hecla Mining Company; News Release, February 13, 2026 54 Hecla Mining Company; News Release, February 13, 2026 55 Victoria Gold Corp.; Eagle Gold Mine NI 43-101 Technical Report, April 10, 2023 56 Pan American Silver Corp.; News Release, September 11, 2025 57 Pan American Silver Corp.; News Release, September 11, 2025 58 Agnico Eagle Mines Limited; News Release, February 12, 2026 59 Alamos Gold Inc.; News Release, February 17, 2026 60 Agnico Eagle Mines Limited; News Release, February 12, 2026 61 Kirkland Lake Gold Ltd.; News Release, February 25, 2021 62 Agnico Eagle Mines Limited; News Release, February 12, 2026 63 Equinox Gold Corp.; Corporate Presentation, February 2026 64 Skeena Resources Limited; Eskay Creek Project NI 43-101 Technical Report, November 14, 2023 65 Evolution Mining Limited; ASX Announcement, February 14, 2024 66 Seabridge Gold Inc.; Courageous Lake Pre-feasibility study and Preliminary Economic Assessment NI 43-101 Technical Report, January 5, 2024 67 Fortune Bay Corp.; Goldfields Project Updated NI 43-101 Technical Report & Preliminary Economic Assessment, October 20, 2025 68 Agnico Eagle Mines Limited; News Release, February 16, 2023 69 Ascot Resources Ltd.; Annual Information Form, March 24, 2025 70 Wallbridge Mining Company Limited.; NI 43-101 Technical Report and Preliminary Economic Assessment Update on the Fenelon Gold Project, Quebec, Canada, March 26, 2025 71 Westhaven Gold Corp.; Updated Preliminary Economic Assessment and Mineral Resource Estimate of the Shovelnose Gold Project, April 17, 2025 72 Red Pine Exploration Inc.; Wawa Gold Project NI 43-101 Technical Report, September 30, 2024 73 Gold Candle Ltd.; Corporate Presentation, February 2026 74 Galway Metals Inc.; Corporate Presentation, January 2026 75 Scottie Resources Corp; News Release, May 7, 2025 76 Banyan Gold Corp.; News Release, March 1, 2026 77 Regis Resources Limited; ASX Announcement, May 20, 2025 78 Wiluna Mining Corporation Limited; 2024 & 2025 Annual General Meetings, November 28, 2025 and ASX Announcement, February 16, 2024 79 Northern Star Resources Limited; ASX Announcement, May 15, 2025 80 Barto Gold Mining Pty Ltd, Annual Mineral Resource Statement as at August 31, 2024 81 Savannah Goldfields Ltd; ASX Announcement, January 30, 2026 82 Lefroy Exploration Limited; Corporate Presentation, November 28, 2025 83 Ramelius Resources Limited; ASX Announcement, October 1, 2025 84 Northern Star Resources Limited; ASX Announcement, May 15, 2025 85 Genesis Minerals Limited; Annual Report, August 21, 2025 86 Matsa Resources Ltd.; Annual Report, October 26, 2025 for Red October and AngloGold Ashanti Limited; Mineral Resource and Mineral Reserve Report at December 31, 2024 for Butcher Well 87 Kaiser Reef Limited; ASX Announcement, October 23, 2025 88 Minerals 260 Limited; Corporate Presentation, February 2026 89 Ramelius Resources Limited; ASX Announcement, October 1, 2025 90 Ramelius Resources Limited; ASX Announcement, October 1, 2025 91 Benz Mining Corp; Annual Report, August 29, 2025 92 Newmont Corporation; News Release, February 19, 2026 93 Kinross Gold Corporation; News Release, February 18, 2026 94 Endeavour Mining plc; News Release, March 5, 2026 95 Endeavour Mining Corp.; Annual Report, March 17, 2022 96 Perseus Mining Limited; News Release, August 21, 2025 97 Ariana Resources plc; Replacement Prospectus, August 5, 2025 98 Fortuna Mining Corp.; News Release, January 20, 2026 99 Eldorado Gold Corporation; News Release, November 26, 2025 100 Alamos Gold Inc.; News Release, February 18, 2025 101 Perseus Mining Limited; News Release, August 21, 2025 102 Strickland Metals Limited; ASX Announcement, February 2, 2026 103 Lundin Mining Corporation; News Release, February 18, 2026 104 Glencore plc; Resources & Reserves as at December 31, 2025 105 Teck Resources Limited; Annual Information Form, February 18, 2026 106 The stream agreement applies to 100% of the property, but only with respect to the ownership interest of Teck Resources Limited which indirectly owns a 22.5% interest in Compañía Minera Antamina S.A. 107 Rio2 Limited; Corporate Presentation, December 8, 2025 108 Newmont Corporation; News Release, February 19, 2026 109 Newmont Corporation; News Release, February 19, 2026 110 Gold Fields Limited; Mineral Resources and Mineral Reserves Supplement to the Integrated Annual Report, March 31, 2025 111 Pan American Silver Corp; News Release, September 11, 2025 & Corporate Website 112 SolGold plc; Annual Information Form, September 24, 2025 113 Patagonia Gold Corp.; MD&A, November 27, 2025 114 Hecla Mining Company; News Release, February 13, 2026 115 Perpetua Resources Corp., Form 10-K, April 2, 2025 116 Skeena Resources Limited; Eskay Creek Project NI 43-101 Technical Report, November 14, 2023 117 Eldorado Gold Corporation; News Release, November 26, 2025 118 Integra Resources Corp.; Corporate Presentation, February, 2026 119 Westhaven Gold Corp.; Updated Preliminary Economic Assessment and Mineral Resource Estimate of the Shovelnose Gold Project, April 17, 2025 120 Paramount Gold Nevada Corp.; Form 10-K; September 25, 2025 121 i-80 Gold Corp.; Corporate Presentation, March 2026 122 i-80 Gold Corp.; Corporate Presentation, March 2026 123 i-80 Gold Corp.; Corporate Presentation, March 2026 124 AngloGold Ashanti plc; Q4 2025 & Full Year Earnings Release, February 20, 2026 125 Faraday Copper Corp.; Corporate Presentation, February 2026 126 Los Andes Copper Ltd.; Corporate Presentation, February 2026 127 Strickland Metals Limited; ASX Announcement, February 2, 2026 128 Sibanye Stillwater Limited; JSE Market Release, February 17, 2026 129 Sibanye Stillwater Limited; JSE Market Release, February 17, 2026 130 Western Limb includes the precious metals stream on Sibanye Stillwater Limited’s Western Limb mining operations and the net smelter return royalty on the Pandora property 131 Magna Mining Inc.; Corporate Presentation, March 2026 132 Ring of Fire Metals Pty Ltd.; Technical Report on the Eagle’s Nest Project, January 24, 2024 133 Generation Mining Limited; Marathon Copper-Palladium Project Feasibility Study Report Update, March 28, 2025 134 Newmont Corporation; News Release, February 19, 2026 135 Newmont Corporation; News Release, February 19, 2026 136 Faraday Copper Corp.; Corporate Presentation, February 2026 137 Vale S.A.; Form 20-F, March 28, 2025. Details of Vale’s Participating Debentures are available on Vale’s website 138 SolGold plc; Annual Information Form, September 24, 2025 (Alpala & Tandayama America Underground) & News Release (Tandayama America Open Pit), November 26, 2025 139 Teck Resources Limited; Annual Information Form, February 18, 2026 140 First Quantum Minerals Ltd.; Taca Taca Project NI 43-101 Technical Report, February 19, 2026 141 Lundin Mining Corporation; News Release, February 18, 2026 142 Los Andes Copper Ltd.; Corporate Presentation, February 2026 143 Hudbay Minerals Inc.; Investor Presentation, February 2026 144 KGHM Polska Miedź S.A.; Mineral Resources and Reserves Report, December 31, 2014 145 Strickland Metals Limited; ASX Announcement, February 2, 2026 146 Glencore plc; Resources & Reserves as at December 31, 2014 147 Ring of Fire Metals Pty Ltd.; Technical Report on the Eagle’s Nest Project, January 24, 2024 148 Canada Nickel Company, Inc.; Crawford Nickel Sulfide Project NI 43-101 Technical Report, October 1, 2023 149 BHP Group Limited; Annual Report, August 19, 2025 150 Noront Resources Ltd.; Black Thor, Black Label and Big Daddy NI 43-101 Technical Report, July 27, 2015 & Eagle’s Nest Project NI 43-101 Technical Report, October 19, 2012 for Blackbird 151 Vale S.A.; Form 20-F, March 28, 2025. Details of Vale’s Participating Debentures are available on Vale’s website 152 Labrador Iron Ore Royalty Corporation; Annual Information Form, March 11, 2026 153 Franco-Nevada holds a 9.9% equity interest in Labrador Iron Ore Royalty Corporation (“LIORC”). LIORC, directly and through its wholly-owned subsidiary, owns a 15.1% equity interest in Iron Ore Company of Canada and receives a 7% gross overriding royalty on the operation and also receives a C$0.10/t commission on sales of iron ore M I N E R A L R E S O U R C E S A N D M I N E R A L R E S E R V E S TSX / NYSE: FNV Franco-Nevada Corporation ★ 133 132 ★ Franco-Nevada Corporation TSX / NYSE: FNV Mineral Resources and Mineral Reserves Mineral Resources and Mineral Reserves