R O B I N S O N Producing Location: Nevada, United States | Operator: KGHM International Ltd. | Metals: Cu, Mo, Ag & Au | Royalty: NSR: 0.225% / other The Robinson open pit mining complex, operated by KGHM, produces copper, gold, silver and molybdenum and is located near Ely, Nevada. Franco-Nevada has three royalties covering the Robinson mine: 1. 0.225% NSR on all base metal and associated precious metal production; 2. 10% NSR on 51% of the gold production from the property in excess of 60 koz of gold per year; and 3. under a copper agreement, a price participation royalty on 51% of 40% of each pound of copper production from the property in excess of 130 Mlbs of copper produced per annum, multiplied by the spot price, less $1.00/lb adjusted for inflation (based on 1990 dollars). Amounts are only payable in any year in which the average price of copper during that year exceeds a $1.00/lb threshold, as adjusted for inflation (based on 1990 dollars). Franco-Nevada will likely only be paid on the base 0.225% NSR royalty for 2026 as production is expected to be below the royalty threshold level. In 2025, Robinson ceased extraction from Ruth West 5 (“RW5”) and is now mining from the Liberty pit as well as preparing Tripp-Veteran for mining. Liberty ore is of lower quality compared to RW5, which is expected to impact results in the coming quarters. Due to this, Franco-Nevada expects royalty revenue in 2026 to be slightly lower than 2025. Robinson currently has a 12-year mine life and Franco-Nevada expects annual royalty revenue to remain relatively consistent over that period. For Royalty Ounce calculation, Franco-Nevada estimates 100% of the gold and copper Mineral Resources and Mineral Reserves are subject to our royalty interest and estimates an average rate of 0.225% is applicable for gold and 0.1913% for copper (which factors a NSR smelting charge of 15%). Copper has been converted to Royalty Ounces assuming $5.50/lb ($4.25/lb in 2024, $3.75/lb in 2023) E A G L E P I C H E R Producing Location: Nevada, United States | Operator: US Silica Holdings, Inc. | Metals: De | Royalty: Production Payment EaglePicher is a diatomaceous earth operation in Pershing County, Nevada, located about 23 miles northwest of Lovelock. The royalty is based on a fixed payment per ton which fluctuates based on the average sales price from the prior year’s sales. The royalty covers approximately 15 km 2 of checkerboard lands. The intervening lands are public and EaglePicher holds unpatented placer claims on those lands as needed for mining. The mine has been in continuous operation since the 1950s with approximately 65% of production coming from Franco-Nevada land. The BLM approved an Environmental Assessment permit for the operation in 2024 which allows for additional disturbance and mine life extension. The current resource supports a mine life into the late 2030’s with exploration potential to further expand the mine life. The revenue received from EaglePicher in 2024 and 2025 was $463,000 and $613,000, respectively. Franco-Nevada has not included EaglePicher in Royalty Ounce estimates Franco-Nevada Corporation ★ 85 TSX / NYSE: FNV United States