M I N I N G E X P L O R A T I O N A S S E T S Franco-Nevada has interests in 250 exploration stage mining properties (165 precious metals assets and 85 diversified (mining) assets) as at May 1, 2026. Exploration assets represent interests on projects where technical feasibility and commercial viability of extracting Mineral Resources are not demonstrable. Some of these assets have associated Mineral Resources that, to be economic, may require additional Mineral Resources, higher commodity prices, permitting approval, lower geopolitical risk or a better financing environment. A good portion of the properties are inactive and may not see activity again. Some of the properties are in proximity to producing or advanced projects. Franco-Nevada has not visited or audited its full list of exploration assets and has relied on operator reports and/or public disclosures to determine which properties are in good standing. It is possible some properties may have lapsed. The following table is a list of the mining exploration assets of Franco-Nevada as at May 1, 2026. Assets that have had their terms or leases expire and have been written off by Franco-Nevada are not listed. Mining Exploration Assets as at May 1, 2026 Asset Operator Interest and % 1 South America Para South Iron Project, Brazil Talon Ferrous Mineracao Ltda 0.5–1% NSR (All Metals) Terra Escura, Brazil Talon Ferrous Mineracao Ltda/Votorantim S.A. 1–2% NSR (All Metals); 4% Cash Dividends Trairao Iron Project, Brazil Talon Ferrous Mineracao Ltda $0.2995/tonne (Fe) Various–Vale, Brazil Vale S.A. Various (Fe) Bronce West, Chile Masglas America Corporation SpA 1–2% NSR (All Minerals) Calvario, Chile Austral Gold Limited (Minera Mena Chile Limitada) 1–2% NSR (All Minerals) El Alto, Chile Barrick Mining Corporation 0.54–2.7% NSR (Cu, Au) La Coipa, Chile Kinross Gold Corporation 3% NSR (Au) Mirador, Chile Austral Gold Limited (Minera Mena Chile Limitada) 1–2% NSR (All Minerals) Morros Blancos, Chile Pampa Metals Corp. (Pampa Metals Chile SpA) 1–2% NSR (All Minerals) Reina Hija, Chile Sumitomo Metal Mining Co., Ltd. (Sumitomo Metal Mining Chile Ltda) 1–2% NSR (All Minerals) San Guillermo, Chile Austral Gold Limited (Guanaco Compania Minera SpA) 1–2% NSR (All Minerals) San Valentino, Chile Atacama Copper Exploration Limited 1–2% NSR (All Minerals) Ayahuanca, Peru Apumayo S.A.C. 1% NSR (Au) Choreveco, Peru Minera del Norte S.A./Aruntani S.A.C. 0.1–0.3% NSR (Au) Conga, Peru Newmont Corporation 1.8% NSR (Au) Cristiana, Peru Fresnillo Peru S.A.C. 1.5% NSR (All Metals) Los Pinos, Peru Tamerlane Ventures Inc. 0.5% NSR (All Metals) Mansa Musa (Minasnioc), Peru Private Investors 2% NSR (All Metals) Parinacochas (Urbaque), Peru Hochschild Mining plc 2% NSR (All Minerals) Pukaqaqa (Antoro Sur), Peru Nexa Resources Peru S.A.A. 1–2% NSR (All Minerals) Quilish, Peru Newmont Corporation 1.8% NSR (Au) Yanamina, Peru EV Resources Ltd. 5% NSR (All Minerals) Canada Carruthers, British Columbia Cariboo Rose Resources Ltd. 2.5% NSR (All Minerals) (buyback option on 1.5%) New Prosperity, British Columbia Taseko Mines Limited Stream (Au) Scottie, British Columbia Scottie Resources Corp. 2% NSR (All Minerals) Spences Bridge (Talisker), British Columbia Talisker Resources Ltd. 2.5% NSR (All Minerals) Spences Bridge (Westhaven), British Columbia Westhaven Gold Corp. 2% NSR (All Minerals) Taken, British Columbia Independence Gold Corp. 2–4% NSR (All Minerals) (buyback option to 1%) Tide, British Columbia Brigade Holdings Limited 1.5% NSR (All Minerals) Trout Lake (MAX Moly Mine), British Columbia Cameo Industries Corp. 2.5% NSR (All Minerals) Maverick (Nokomis), Manitoba Minnova Corp. 2–3% NSR (All Minerals) Maverick (Puffy Lake), Manitoba Minnova Corp. 2–3% NSR (All Minerals) Oxford Lake, Manitoba Big Ridge Gold Corp. 1.5–2.5% NSR (All Minerals) Clarence Stream, New Brunswick Galway Metals Inc. 1% NSR (All Minerals) Golden Ridge, New Brunswick Darryl Leblanc 2% NSR (All Minerals) Buchans, Newfoundland and Labrador Canterra Minerals Corporation 2% NSR (All Minerals) (buyback option on 1%) LabMag (Taconite), Newfoundland and Labrador Abaxx Technologies Inc. 1.666% GR (Iron Ore-Taconite) Mary March, Newfoundland and Labrador Canstar Resources Inc. 1% NSR plus other (All Minerals) Mazenod, Northwest Territories BFR Copper & Gold Inc. 2% NSR (All Minerals) (buyback option on 1%) Redstone (Coates Lake), Northwest Territories H. Coyne and Sons Ltd. (Redbed Resources Corp.) 3–4% NSR (Cu, Ag) Hyde, Nunavut Exploratus Ltd. 2.5% NSR (All Minerals) Black Thor, Ontario Wyloo Muketei Ltd. 2–3% NSR (Cr, Ni, Cu) Butler and Sanderson (Diagnos), Ontario Wyloo Ring of Fire Ltd./Macdonald Mines Exploration Ltd. ROFR on Diagnos Royalty (Diamonds/Base Metals) Catharine 1, Ontario Canadian Exploration Services Limited 1/3 of a 2–3% NSR (All Minerals) Catharine 4, Ontario Canadian Exploration Services Limited/Northstar Gold Corp. 2–3% NSR (All Minerals) Cline Lake, Ontario Alamos Gold Inc. 0.75% NSR (All Minerals) Detour (Gowest), Ontario Agnico Eagle Mines Limited 1% NSR (All Minerals) (buyback option on 0.5%) Detour (Mikwam), Ontario and Quebec Aurelius Minerals Inc. 0.4824% NSR (All Minerals) Diagnos, Ontario Wyloo Muketei Ltd. 2% NSR (All Minerals) TSX / NYSE: FNV 108 ★ Franco-Nevada Corporation Mining Exploration Assets