2022 ASSET HANDBOOK 76 FNV TSX NYSE N Meters 0 500 Island Gold Royalty Area 0.62% NSR Island East Northern Zone Island Main Island West FNV Royalty claims Reser ves + Resources 2021 2020 2019 Revenue to Franco-Nevada ($ million) $ 1.5 $ 0.8 $ – P&P Reserves (koz Au) 1 1,338 1,310 – M&I Resource (koz Au) 1 1,624 1,476 – Inferred Resource (koz Au) 1 3,454 3,208 – P&P Royalty Ounces (000s) 2 8 7 – M&I Royalty Ounces (000s) 1, 2 9 8 – Inf Royalty Ounces (000s) 2 19 18 – 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 90% of the Mineral Reserves and Mineral Resources are subject to our royalty interest and estimates a rate of 0.62% is applicable Island Gold Au Ontario, Canada Operator: Alamos Gold Inc. Royalty: NSR: 0.62% Precious Metals In March 2020, Franco-Nevada acquired an existing 0.62% NSR on the Goudreau Lake claims totaling 58 hectares covering the core of the Island Gold mine in western Ontario. The mine is operated by Alamos Gold Inc. (“Alamos”) who acquired the operation in 2016. The mine utilizes longitudinal retreat longhole stoping with cement backfill and ore is processed through a conventional carbon in pulp plant. Alamos produced a total of 140,900 ounces of gold in 2021 from the mine with the majority coming from the royalty claims, an increase from 139,000 ounces of gold in 2020. Gold production is forecast to be between 125,000 to 135,000 ounces in 2022. In the near term, Franco-Nevada expects the majority of production to continue to come from the royalty claims and it is estimated that approximately 90% of the Mineral Reserves and Mineral Resources on the property are covered by Franco-Nevada’s royalty claims. In July 2020, Alamos r eported results of the positive Phase III expansion study conducted on its Island Gold mine. Based on the results of the study, Alamos is proceeding with an expansion of the shaft to 2,000 tpd. The Phase III expansion is expected to increase average annual gold production to 236,000 ounces per year starting in 2025, representing an approximate 67% increase from 2021 production. Combined Mineral Reserves and Resources (including Inferred material) are 5.1 million gold ounces (4.1 million tonnes grading 10.12 g/t of Mineral Reserves, 1.1 million tonnes grading Canada Higher grades at Island Gold to support stable production ahead of expansion Phase III expansion expected to increase average production to 236,000 ounces starting in 2025 Strong exploration potential in Island Gold mining camp PRECIOUS METALS 8.12 g/t of exclusive M&I Resources, and 7.9 million tonnes grading 13.59 g/t of Inferred Mineral Resources) as of December 31, 2021, an increase of 37% since the 2020 Phase III study. Alamos is currently focused on permitting and in March 2022 announced that the Closure Plan Amendment had been filed by the Ontario Government representing a significant milestone for the operation. This will allow for ramp-up of construction activities on the Phase III expansion, including pre-sinking the shaft which is expected to begin mid-2022. An updated and optimized mine plan is expected to be released in the middle of 2022, incorporating growth and mine resequencing. Fr anco-Nevada holds additional royalties in the Island Gold mining camp. These include a 2% NSR royalty on Alamos’ Edwards property located 4 km north-east of the Island Gold mine and a 0.75% NSR royalty on the Cline Lake property immediately adjacent to Edwards. In December 2020, Alamos acquired Trillium Mining Corp. which previously held the Cline Lake property, increasing its land package by approximately 60% in the region. Both of Franco-Nevada’s additional royalties in the mining camp are along strike and on the same geologic structure as the Island Gold mine. Island Gold, Ontario