N E W P R O S P E R I T Y Exploration Location: British Columbia, Canada | Operator: Taseko Mines Limited | Precious Metals: Au | Stream: Gold Stream 22% Franco-Nevada holds the right to acquire a 22% life of mine gold stream for $350 million on the New Prosperity project in British Columbia, owned by Taseko Mines Ltd. (“Taseko”). The deposit is one of the largest undeveloped copper gold porphyry deposits in Canada, hosting a M&I Mineral Resource of approximately 13 Moz of gold (1,010 Mt at 0.41 g/t) and 5.3 billion pounds of copper (1,010 Mt at 0.24%). A historical technical report outlines a 33-year mine life, with Franco-Nevada estimating potential contributions under its gold stream of approximately 62 kozpa. Under the streaming agreement, Franco-Nevada would make ongoing payments equal to the lesser of $400/oz (subject to inflation adjustments) or the prevailing gold price for each ounce delivered. In June 2025, Taseko announced an agreement with the T ŝ ilhqot’in Nation and the Province of British Columbia that provides a potential pathway to development, including the contribution of a 22.5% equity interest in the project to a trust for the benefit of the T ŝ ilhqot’in Nation and the initiation of a joint land use planning process. Franco-Nevada views the recent agreement with the T ŝ ilhqot’in Nation as a positive development and has included the historic resource in this Asset Handbook on page 134. However, the New Prosperity Technical Report has not been updated since 2009. While Franco-Nevada has estimated the potential Royalty Ounces related to New Prosperity based on the historical assessment, caution is advised when assessing the reliability of such resources. Royalty Ounces for New Prosperity were not included in our Royalty Ounce totals due to the uncertainty surrounding its development. For 2025, Franco-Nevada estimates that P&P royalty ounces, M&I royalty ounces and Inf royalty ounces would be 1,469 koz, 1,776 koz and 0 koz, respectively. For Royalty Ounce calculation, Franco-Nevada estimates it will receive 22% of gold produced and the stream interest has been factored by 89% to reflect $4,500/oz gold and $400/oz gold ongoing payments (subject to inflation adjustments) F E N E L O N / M A R T I N I E R E Exploration Location: Quebec, Canada | Operator: Wallbridge Mining Company Limited | Precious Metals: Au | Royalty: NSR: 1% (Fenelon), 2% (Martiniere) Franco-Nevada holds a 1% NSR on the Fenelon project and a 2% NSR on the Martiniere project located along the Detour-Fenelon Gold Trend in Quebec. Both projects are operated by Wallbridge Mining Company Limited (“Wallbridge”), with Martiniere sitting roughly 50 km east of the Detour Lake mine and Fenelon an additional 30 km east of Martiniere. The royalties were acquired by Franco-Nevada in September 2020 as part of a portfolio of 24 royalties from Freeport-McMoRan Inc. In March 2025, Wallbridge released an updated Preliminary Economic Assessment for the Fenelon property. The study outlined a 16-year mine life based on a production rate of 3 ktpd. The underground project is expected to yield average annual life of mine production of 107 koz of gold, with higher output of 127 koz of gold per year during the first five years. The Mineral Resource at Fenelon consists of a total Indicated Mineral Resource of 1.75 Moz of gold (15.09 Mt at 3.62 g/t), alongside an Inf. Mineral Resource of 1.65 Moz of gold (15.03 Mt at 3.41 g/t). At the Martiniere deposit, Indicated Mineral Resources currently consist of 346 koz of gold (4.70 Mt at 2.29 g/t), with an Inf. Mineral Resource of 387 koz of gold (3.87 Mt at 3.11 g/t). While Martiniere was not included in the March 2025 PEA, Wallbridge has 17,000 meters of drilling planned in 2026 with the objective of targeting a system expansion and evaluation of scale beyond current resources. For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates a rate of 1.0% is applicable for Fenelon and 2.0% is applicable for Martiniere W A W A Exploration Location: Ontario, Canada | Operator: RPX Gold Inc. | Precious Metals: Au | Royalty: NSR: 1.5% Franco-Nevada holds a 1.5% NSR on the Wawa project, with an option to purchase an additional 0.5% upon a board-approved construction decision and completed feasibility study. RPX Gold Inc. recently completed a Preliminary Economic Assessment (PEA) for the Wawa project in Q1 2026. The 2026 Mineral Resource includes an Indicated Mineral Resource of 1.2 Moz (22.91 Mt at 1.69 g/t gold) and an Inf. Mineral Resource of 0.5 Moz (9.95 Mt at 1.59 g/t gold) across its open pit and underground deposits. The 2026 PEA outlines a 9 year life of mine operating at an average run-of-mine production rate of 2 ktpd. The phased development plan begins with three years of open pit mining yielding an average of 48 koz annually, before transitioning to an underground operation yielding an average of 74 koz annually. For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates an average rate of 1.5% is applicable S P E N C E S B R I D G E ( W E S T H A V E N ) Exploration Location: British Columbia, Canada | Operator: Westhaven Gold Corp. | Precious Metals: Au | Royalty: NSR: 2% Franco-Nevada holds a 2% NSR (which is subject to a 0.5% buyback option), covering the Spences Bridge Gold Belt, which encompasses Westhaven Gold Corp.’s (“Westhaven”) four projects: Shovelnose, Prospect Valley, Skoonka, and Skoonka North. Westhaven released an updated PEA for the Shovelnose property in March 2025 and subsequently launched a drill campaign in early 2026. The high-grade underground mineral resource consists of a total Indicated Mineral Resource of 0.7 Moz (3.4 Mt at 6.1 g/t gold), alongside an Inf. Mineral Resource of 0.2 Moz (2.3 Mt at 3.7 g/t gold) (South Zone) and <0.1 Moz (0.06 Mt at 3.4 g/t gold) (Franz Zone). The 2025 PEA outlines an 11.1-year mine life based on a 1 ktpd production rate. The underground project is expected to yield average annual life of mine production of 56 koz of gold and 313 koz of silver. For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates an average rate of 2.0% is applicable. Silver has been converted assuming $4,500/oz gold and $75.00/oz silver K E R R - A D D I S O N Exploration Location: Ontario, Canada | Operator: Gold Candle Ltd. | Precious Metals: Au | Royalty: NSR: 1% Gold Candle Ltd. (“Gold Candle”), a privately funded exploration company, is advancing the historic Kerr-Addison Project located in Virginiatown in McGarry Township, roughly 35 km east of Kirkland Lake along the Larder Lake Cadillac Break in Ontario. Gold Candle is aggressively exploring the near-mine and regional targets of the past-producing Kerr-Addison property. The updated 2025 Mineral Resource encompasses an open pit and underground resource totaling an Indicated Mineral Resource of 3.3 Moz (69.2 Mt at 1.5 g/t gold) and an Inf. Mineral Resource of 2.5 Moz (55.6 Mt at 1.3 g/t gold) The company is conducting mining, metallurgical, and environmental trade-off studies to support an inaugural Preliminary Economic Assessment scheduled for Q3 2026. The initial project phase is expected to focus on an open pit mine plan. For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates an average rate of 1.0% is applicable TSX / NYSE: FNV Franco-Nevada Corporation ★ 73 72 ★ Franco-Nevada Corporation TSX / NYSE: FNV Canada Canada