2022 ASSET HANDBOOK 40 FNV TSX NYSE South America In February 2016, Franco-Nevada (Barbados) Corporation, a subsidiary of Franco-Nevada, acquired a precious metals stream on production from the Antapaccay mine for $500 million from Glencore plc (“Glencore”) and its subsidiaries. Antapaccay is located within the province of Espinar in Southern Peru – a district with a long mining history. The property also hosts the historic Tintaya open-pit mine and related infrastructure which began operating in 1984. Glencore (Xstrata) invested in excess of $1.5 billion of initial capital to build and commission the Antapaccay open-pit mine and plant, which commenced operations in 2012. Under the str eaming agreement, gold and silver deliveries are initially referenced to copper in concentrate shipped. Franco-Nevada will receive 300 ounces of gold and 4,700 ounces of silver for each 1,000 tonnes of copper in concentrate shipped, until 630,000 ounces of gold and 10 million ounces of silver have been delivered, which is currently expected to occur in 2028. Cumulatively, 350,840 ounces of gold and 5.5 million ounces of silver have been delivered since acquisition until December 31, 2021. Thereafter, Franco-Nevada will receive 30% of the gold and silver shipped. Franco-Nevada will initially pay an on-going price of 20% of the spot price of gold and silver until 750,000 ounces of refined gold and 12.8 million ounces of refined silver have been delivered. Thereafter, the on-going price will increase to 30% of the spot price of gold and silver. The str eam is referenced to the entire Antapaccay concession covering approximately 997 km 2 . Glencore is considering developing the Coroccohuayco deposit which is located within 10 km of the 2021 2020 2019 Revenue to Franco-Nevada ($ million) $ 111.6 $ 118.5 $ 100.4 P&P Reserves (koz Au) 1 1,222 1,204 1,892 M&I Resource (koz Au) 1 3,279 3,161 3,082 Inferred Resource (koz Au) 1 383 201 265 P&P Reserves (moz Ag) 1 17.6 17.2 38.3 M&I Resource (moz Ag) 1 70.6 65.4 66.7 Inferred Resource (moz Ag) 1 6.2 2.5 3.7 P&P Royalty Ounces (000s) 2 440 469 652 M&I Royalty Ounces (000s) 1, 2 868 861 889 Inf Royalty Ounces (000s) 2 72 34 47 1 Please r efer 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 Ro yalty Ounce calculation, Franco-Nevada estimates P&P Royalty Ounces include payable metal of the remaining deliveries before the 630,000 ounces of gold and 10 million ounces of silver hurdle with the balance of Mineral Reserves subject to a 30% stream. For M&I Royalty Ounces, Franco-Nevada assumes the P&P Royalty Ounces with the balance of M&I Resources subject to the 30% stream. For Inferred Royalty Ounces, Franco-Nevada assumes Inferred Mineral Resources are subject to the 30% stream. Silver has been converted to Royalty Ounces assuming $1,800/oz gold and $23.00/oz silver ($1,750/oz gold and $25.00/oz silver in 2020, $1,400/oz gold and $18.00/oz silver in 2019). The stream interest has been factored by different ongoing payments of 20% of the spot price of gold and silver on the first 750,000 ounces of gold and 12.8 million ounces of silver and 30% of the spot price thereafter Antapaccay plant. The project has been rescoped as an open pit with mine planning currently at the PFS level. Coroccohuayco hosts M&I Mineral Resources of 643 million tonnes with a copper grade that is approximately 50% higher than the Antapaccay Mineral Reserves. In addition, there are a number of large-scale regional targets and prospects on the Antapaccay concessions. Fr anco-Nevada sold 62,411 GEOs from the mine in 2021, compared with 65,901 GEOs in 2020, and in 2022 expects sales from its Antapaccay stream to be between 47,500 and 57,500 GEOs due to expected lower grades partly due to a planned pit lay-back. Antapaccay has a planned mine life to 2033 which would be further extended by any development of Coroccohuayco. Antapaccay Au & Ag Peru, South America Operator: Glencore plc Stream: Gold and Silver Stream Precious Metals Gold and silver deliveries initially referenced to copper in concentrate shipped Potential for Coroccohuayco to extend mine life Land package of 997 km 2 offers a number of large-scale regional targets PRECIOUS METALS Antapaccay Precious Metals Stream Not included Antapaccay Pit Coroccohuayco Km 0 10 Antapaccay Concession Area Antapaccay Concession area covers ~997 km 2 * Tintaya Pit/ Tailings Storage Antapaccay Plant Tintaya Plant 8 Km Pacific Ocean ARGENTINA BOLIVIA PERU BRAZIL COLOMBIA EQUADOR CHILE Antapaccay Antapaccay, Peru