i - 8 0 G O L D A S S E T S Producing Location: Nevada, United States | Operator: i-80 Gold Corp. | Precious Metals: Au & Ag | Royalty: NSR: 1.5–3% In February 2026, Franco-Nevada acquired a 1.5% NSR which increases to 3% in 2031 on all minerals produced from Granite Creek, the Ruby Hill Property (including Archimedes and Mineral Point), Cove and Lone Tree. 2025 2024 2023 Revenue to Franco ‑ Nevada ($ million) $ – $ – $ – M&I Resources (koz Au) 1 6,518 – – Inf. Resources (koz Au) 1 7,482 – – P&P Reserves (koz Au) 1 – – – M&I Resources (koz Ag) 1 127.7 – – Inf. Resources (koz Ag) 1 102.9 – – P&P Reserves (koz Ag) 1 – – – M&I Royalty Ounces (000s) 1,2 235 – – Inf. Royalty Ounces (000s) 2 269 – – P&P Royalty Ounces (000s) 2 – – – 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 from Granite Creek, the Ruby Hill Complex (including Archimedes and Mineral Point), Cove and Lone Tree are subject to our royalty interest and estimates a rate of 1.5% is applicable which increases to 3.0% in 2031. Applicable production for both royalty rates has been approximated using the Q1 2025 PEA studies for each deposit The royalties also include a one-mile AOI beyond each property boundary. The royalty acquisition was part of i-80 Gold’s recapitalization plan to advance all projects through various stages of development and fund the refurbishment of the Lone Tree Autoclave plant. The Lone Tree Autoclave will be the only Autoclave in Nevada not owned by Nevada Gold Mines, giving i-80 Gold the ability to process refractory ore from underground development projects. Granite Creek – Producing: The Granite Creek property includes the currently producing underground operation and the advanced stage open pit resource. Ore from the underground is currently sold through a toll milling agreement until the Lone Tree Autoclave is refurbished, expected in 2028. The underground is expected to produce 30–40 koz of gold in 2026 and an updated feasibility study is expected mid-2026. Recent drilling at the South Pacific Zone demonstrates potential for resource expansion and will be advanced with a $10 million budget in 2026. The Granite Creek open pit resource will be advanced through permitting and technical studies through 2027 with construction starting in 2028 and first gold production in H2 2029. In addition to the interest acquired in February 2026, Franco-Nevada holds incremental NSR royalties ranging from 0.083% to 2.0% on the southern portions of the open pit resource. Archimedes and Mineral Point (part of the Ruby Hill Property) - Advanced: Construction commenced at the Archimedes underground in Q3 2025. Infill drilling of the deposit will be completed in Q2 2026 with first gold production expected in late 2026. Ore from Archimedes is planned to be sold through the same toll milling agreement as Granite Creek. A feasibility study is anticipated to be completed in Q1 2027, and ore will be sent to the Lone Tree Autoclave once refurbishment is complete. Mineral Point is a large oxide Au-Ag deposit with the potential to become one of Nevada’s largest open pit operations. In 2026, i-80 plans to perform ~131,000 meters of drilling with a $40 million to $45 million budget to update the Mineral Resource and provide data for a pre- feasibility/feasibility study, which is anticipated in H1 2027. Permitting and technical work will be advanced through 2029 with construction beginning in 2030 and first gold production estimated in H2 2031. Cove – Advanced: Cove is an underground resource and has high-grade brownfield gold deposits open for expansion. Permitting and technical work will be advanced through 2027 with construction beginning in 2028 and first gold production anticipated in H2 2029. Ore from Cove would be sent to the Lone Tree Autoclave for processing. In addition to the NSR, acquired as part of the Victoria Gold royalty portfolio in early 2026, Franco-Nevada holds cumulative production payment rights of C$5 million each, due upon production of 250,000, 500,000, 750,000 and 1,000,000 troy ounces of gold from the project. Lone Tree – Exploration: Lone Tree is a past producing open pit mine which ended mining activity in 2006. The property contains 428 koz of Indicated Mineral Resource and 2.8 Moz of Inf. Mineral Resource. i80 Gold Oregon Idaho Utah Nevada California Arizona Mexico Pacific Ocean Highway 50 Interstate 80 i-80 Gold Assets 1.5–3% NSR 25 0 kilometers N Lone Tree Granite Creek Cove Mineral Point and Archimedes Franco-Nevada Royalty Land Area of Interest ~200 kozpa AuEq by 2030 from 3 refractory deposits processed at Lone Tree Autoclave Additional 400 kozpa AuEq beyond 2030, anchored by Mineral Point and Granite Creek open pit Royalty covers expansive >250 km² land package with >16 Moz AuEq in total resources The operator currently has a 22-year mine plan TSX / NYSE: FNV 84 ★ Franco-Nevada Corporation United States