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 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 Franco-Nevada Corporation ★ 101 TSX / NYSE: FNV Rest of World