FRANCO-NEVADA CORPORATION 95 THE GOLD INVESTMENT THAT WORKS Aphrodite Gold project is located in Western Australia, 65 km northwest of Kalgoorlie. Franco-Nevada’s 2.5% gross royalty covers a 29 km 2 area and all Aphrodite Mineral Resources. An advance minimum royalty of A$250,000 per annum applies from November 1, 2017 onward. In December 2021, Bardoc Gold Limited (“Bardoc”) accepted an offer from St Barbara Limited (“St Barbara”) which valued Bardoc at A$157 million. The acquisition is scheduled for completion in April 2022. St Barbara intends to develop Aphrodite in conjunction with an expansion of the Laverton Processing Plant, located 180 km north by rail, increasing throughput from 1.4 Mtpa to 2.1 Mtpa and allowing treatment of Aphrodite’s refractory ore. The mill expansion is expected to increase production by approximately 90,000 ounces per annum, with an expected 80% of the incremental mill feed sourced from Aphrodite. A prefeasibility study on the expansion is expected in June 2022, followed by a feasibility study in December 2022 and commencement of construction of the Aphrodite underground mine in September 2023. For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Reserves and Mineral Resources are subject to our royalty interest and estimates a rate of 2.5% is applicable Aphrodite Au Australia, Rest of World Operator: Bardoc Gold Limited Royalty: GR: 2.5% Precious Metals Bronzewing is located in the Yandal Greenstone Belt of Western Australia. Franco-Nevada’s royalty covers 590 km 2 including all Mineral Resources identified. Bronzewing produced 2.19 million ounces of gold from several open-pit and underground deposits from 1994 to 2004 and a further 0.19 million ounces from open-pit deposits from 2010 to 2013. The project has changed ownership several times since 2013. Northern Star acquired the project in November 2019 in an A$193 million take-over deal. The Yandal project also includes the Julius deposit where Franco-Nevada has a 1.5% NSR royalty under a separate royalty agreement. During 2021, Northern Star developed Julius as a satellite deposit of the Jundee Gold Mine and Franco-Nevada received $0.07 million of royalty revenue from Julius for the year. Northern Star announced plans to return Bronzewing into production at a rate of 150,000 ounces of gold per year, using the Orelia Pit as the primary ore source, which is 100 km north of the Thunderbox Mill, where the ore will be processed. Allocated capital for the project is A$270 million; (i) A$180 million to double capacity at the Thunderbox Mill from 3.0 Mtpa to 6.0 Mtpa and (ii) A$90 million to develop the Orelia Pit. First production is scheduled for December 2022. For Royalty Ounce calculation, Franco-Nevada estimates 100% of Mineral Reserves and Mineral Resources are subject to our royalty interest and estimates a rate of 2.0% is applicable Yandal (Bronzewing) Au Australia, Rest of World Operator: Northern Star Resources Limited Royalty: NSR: 2% Precious Metals PRECIOUS METALS DIVERSIFIED ASSETS RESERVES AND RESOURCES ADDITIONAL INFORMATION Rest of World Other Rest of World Assets Rest of World Precious Metals Please refer to the tables on pages 128-136 for a breakout of grade and tonnages by Mineral Resource category.