Asset Operator Interest and % 1 Australia Continued Agnew (Miranda Nickel No2), W. Australia Gorilla Gold Mines Ltd 0.5% of production (Ni) Agnew (Vivien Gold Mine), W. Australia Ramelius Resources Limited 3% GR (Au) Camelback, W. Australia GME Resources Limited A$0.50/tonne (Ni) Bullfinch, W. Australia Torque Metals Limited 1% NSR (Au) Butcher Well, W. Australia AngloGold Ashanti Limited/Northern Star Resources Limited 1% NSR; 50K oz production threshold (Au) Butcher Well Area, W. Australia AngloGold Ashanti Limited/Northern Star Resources Limited 0.68–1% NSR (Au) Cue Gold (Day Dawn), W. Australia Westgold Resources Limited 1% GR (Au) Duketon (Southwest), W. Australia Regis Resources Limited 2% NSR (All Minerals) Duketon (West), W. Australia Regis Resources Limited/Duketon Mining Limited (Ni only) 2% NSR (All Minerals) Edna May, W. Australia Ramelius Resources Limited 1.5% GR (All Minerals) Flushing Meadow, W. Australia Yandal Resources Limited 1% NSR (Au, Other Minerals) Flying Fox, W. Australia IGO Limited 2% GR (Ni) FMG Hamersley, W. Australia Fortescue Metals Group Ltd A$0.05/tonne; capped at A$1M (Fe) Glenburgh, W. Australia Gascoyne Resources Ltd 1.5% NPI (All Minerals) Granny Smith (Windich South), W. Australia Gold Fields Limited 1% NSR (All Minerals) Gum Creek (Gidgee/Wyooda Thangoo), W. Australia Horizon Gold Limited 1.25% GR (Au) Gum Creek (Sandstone II/Howards), W. Australia Horizon Gold Limited A$0.35/dry tonne (All Minerals) Jaguar Project (Western Claim), W. Australia Aeris Resources Limited 1–2% NSR (Cu, Zn, Other Metals) Lake Maitland, W. Australia Toro Energy Limited (Uranium)/Mega Uranium Ltd (Au, Other Minerals) 1% NSR (All Minerals) Marvel Loch (May Queen), W. Australia Shandong Tianye Real Estate Development Group Co., Ltd. A$0.50–1.00/cubic metre (Au) Mt Newman-Victory, W. Australia St Barbara Limited/ Venari Minerals NL 0.07% GR (All Minerals) Mungari (Carbine North/Chadwin’s Dam), W. Australia Evolution Mining Limited 3% NPI (All Minerals) Mungari (Lady Jane), W. Australia Evolution Mining Limited 4.5% GR (Au) Munni Munni, W. Australia Alien Metals Ltd One-time payment on production (Au and/or Pt) Murrin Murrin Gold, W. Australia ICM Limited 2.625% NSR (Au, Sulfides) Paddington (Breakaway Dam/12 Mile), W. Australia Zijin Mining Group Co., Limited A$1/ton (All Minerals) Paddington (Matt Dam), W. Australia Zijin Mining Group Co., Limited A$0.60/tonne (Au) Polar Bear, W. Australia Westgold Resources Limited 2% NSR (All Minerals) Randwick Gold Hill, W. Australia E Bouverie, Trindal P/L, Lucas Gold P/L et al. 1–1.5% GR (Au) Red October, W. Australia Matsa Resources Limited 1.75% NSR (Au) South Kalgoorlie (Location 48), W. Australia BHP Group Limited 1–1.75% NSR (Au, Ag, Other Minerals) South Kalgoorlie (St Ives), W. Australia Gold Fields Limited 1–1.75% NSR (Au, Ag, Other Minerals) Super Pit (Western Lease), W. Australia Northern Star Resources Limited 2.5% GR (Au) Talga Talga, W. Australia Novo Resources Corp. 1.5% NSR (Au) Western Tamani (Coyote), W. Australia Black Cat Syndicate Limited A$5-15/oz on production between 300K-1M oz (Au) Yundamindera, W. Australia Nex Metals Explorations Ltd/Arika Resources Ltd 1% NSR (Au) Rest of World Urasar, Armenia Hayasa Metals Inc. (Hayasa Resources Corp LLC) 0.625% NSR (All Minerals) Maibulak deposit, Kazakhstan KAZ Minerals plc $10.41/oz plus escalator (Au) CEXCI, Philippines Nickel Asia Corporation Production Payment; capped at $10M Rogozna (KMC), Serbia Strickland Metals Limited 1.5–2% NSR (Au, Base and Other Metals) Cerro San Pedro, Mexico New Gold Inc. 1.95% NSR (Au, Ag) Cooke 4, South Africa Sibanye Stillwater Limited Stream (Au) Kasese, Uganda Scully Royalty Ltd. 10% of free cash flow; capped at $10M (Co) Aği Daği-Camyurt, Türkiye Tumad Madencilik Sanayi ve Ticaret A.S. 2% NSR (Au) Hasandagi, Türkiye Öznar Maden Yatırımları A. Ş . 2% NSR (Au) Karadag, Türkiye ACG Metals Limited 2.5% NSR (Au) Torul, Türkiye ACG Metals Limited 1.5% NSR (Au) 1 Royalty terms have been simplified for presentation purposes. Different terms may apply to certain portions of properties or by commodity. Some royalties may have sliding scales tied to commodity price. Others may include participation in sale proceeds of property or gross sales Franco-Nevada Corporation ★ 111 TSX / NYSE: FNV Mining Exploration Assets