S É G U É L A Producing Location: Côte d’Ivoire | Operator: Fortuna Mining Corp. | Precious Metals: Au | Royalty: NSR: 0.6% Franco-Nevada holds a 0.6% NSR on the Séguéla gold mine, owned and operated by Fortuna Mining Corp. (“Fortuna”). 2025 2024 2023 Revenue to Franco ‑ Nevada ($ million) $ 2.9 $ 2.2 $ 1.4 M&I Resources (koz Au) 1 2,004 1,412 1,535 Inf. Resources (koz Au) 1 736 677 245 P&P Reserves (koz Au) 1 1,543 1,016 1,154 M&I Royalty Ounces (000s) 1,2 12 8 9 Inf. Royalty Ounces (000s) 2 4 4 2 P&P Royalty Ounces (000s) 2 9 6 7 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 0.6% is applicable (0.6% in 2024, 0.6% in 2023) In March 2021, Franco-Nevada acquired a 1.2% NSR on the license covering the Séguéla gold mine in Côte d’Ivoire from Roxgold Inc. (“Roxgold”). Fortuna acquired Roxgold in July 2021 and achieved first gold at Séguéla in 2023. The royalty included a 50% buyback option, which Fortuna exercised in March 2024. A feasibility study in 2021 outlined a 9-year mine life averaging 120 kozpa of gold. Séguéla produced 152,426 ounces of gold in 2025 compared with 137,781 ounces in 2024 and is expected to produce between 160–170 koz in 2026. As of December 31, 2025, Séguéla has P&P Mineral Reserves of 1.54 Moz of gold (15.96 Mt at 3.01 g/t), in addition to exclusive Indicated Resources of 461 koz of gold (5.16 Mt at 2.78 g/t) and Inf. Resources of 736 koz of gold (9.17 Mt at 2.50 g/t). Year-over-year, Mineral Reserves increased by 31%, primarily due to the first-time estimation of underground Mineral Reserves at the Sunbird deposit totaling 401 koz (3.50 Mt at 3.60 g/t). The 2026 brownfields exploration budget for Séguéla is $12 million. This includes approximately 69,000 meters of drilling to upgrade resources primarily at the Sunbird underground project and for infill and expansion drilling at the Kingfisher deposit, along with continued target generation, which is all on royalty ground. Fortuna is expecting a plant expansion study in May 2026 to potentially increase production from approximately 165–200 kozpa of gold. Séguéla 0.6% NSR kilometer 5 0 N Ancien Agouti Boulder Winy Gabbro W Antenna South Antenna North Antenna West P1 Kwenko Siakasso N P7 P2 Kwenko W Koula Antenna Sunbird Schist Resource Pit Target Target Strat Séguéla NSR Area Pelite Kingfisher Sunbird Underground maiden Mineral Reserve adds 401 koz of gold Exploration upside on land package covered by royalty Potential plant expansion being studied The operator currently has a 9-year mine plan. M&I Resources could support production for 12 years and Inf. Resources for a further 4 years Franco-Nevada Corporation ★ 99 TSX / NYSE: FNV Rest of World