2022 ASSET HANDBOOK 108 FNV TSX NYSE Taca Taca Royalty Area 1.08% NSR N Arica Iquique Antofagasta La Serena Santiago Copiapo NuevaUnión (Relincho) CHILE ARGENTINA BOLIVIA PERU Vizcachitas San Jorge Taca Taca Km 0 5 Pit Royalty Area First Quantum 2020 Technical Report Ultimate Pit Design DIVERSIFIED ASSETS Taca Taca Cu, Au, Mo Argentina, South America Operator: First Quantum Minerals Ltd. Royalty: NSR: 1.08% Diversified Franco-Nevada has a 1.08% NSR royalty on all copper, gold and molybdenum produced from Taca Taca which was acquired through the acquisition of Lumina Royalty Corp. in December 2011. The property hosts a very large copper-gold-molybdenum porphyry system and is located in the Puna region of northwestern Argentina in Salta Province, 230 km west of the provincial capital of Salta. The royalty is subject to a buy-back provision. In November 2020, First Quantum filed an updated NI 43-101 technical report and declared a maiden Mineral Reserve of over 7.7 million tonnes of contained copper. First Quantum’s technical report considers an open-pit mine plan which contemplates processing throughput of up to 60 million tonnes per annum through a conventional flotation circuit with a mine life of approximately 32 years. The Measured and Indicated Mineral Resource is 2,203 million tonnes, grading 0.43% copper, and contains 9,451,000 tonnes of contained copper, 265,000 tonnes of molybdenum and 6,052,000 ounces of gold. The Proven and Probable Mineral Reserve has been estimated at 1,759 million tonnes, grading 0.44% copper, for 7,735,000 tonnes of contained copper, 214,000 tonnes of molybdenum and 5,087,000 ounces of gold. First Quantum is continuing with pre-development work and feasibility study activities for the project. The primary Environmental and Social Impact Assessment (“ESIA”) for the project, which covers the principal proposed project sites, was submitted in 2019 and assessment by the authorities continues. Separate ESIA’s for project support infrastructure were submitted to the relevant authorities during Q2 2021. First Quantum is seeking an improved fiscal environment before making a decision to proceed with the project, which is not expected before 2023/2024. Large porphyry deposit with reserve of over 7.7 million tonnes of contained copper and 5.1 million ounces of gold Potentially First Quantum’s next development project Feasibility study and permitting work underway Diversified Assets – Other Mining 2021 2020 2019 Revenue to Franco-Nevada ($ million) $ – $ – $ – P&P Reserves (Mlbs Cu) 1 17,052 17,052 – M&I Resource (Mlbs Cu) 1 20,835 20,835 21,150 Inferred Resource (Mlbs Cu) 1 4,863 4,863 7,550 P&P Royalty Ounces (000s) 2 359 368 – M&I Royalty Ounces (000s) 1, 2 437 448 476 Inf Royalty Ounces (000s) 2 100 102 165 1 Please refer to the tables on pages 128-136 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 Reserves and Mineral Resources are subject to our royalty interest and estimates a rate of 0.918% is applicable for the copper Royalty Ounces (which factors in a NSR smelting charge of 15%). Copper has been converted to Royalty Ounces assuming $3.50 per pound ($350 per pound in 2020, $3.00 per pound in 2018) Taca Taca, Argentina