47 Franco-Nevada Corporation TSX / NYSE: FNV United States Mineral Resources and Mineral Reserves Additional Information Diversified Assets Mesquite Location: California, United States Operator: Equinox Gold Corp. Precious Metals: Au Royalty: NSR: 0.5-2% N Mesquite Mine Big Chief Rainbow Vista $500 Gold Pit 2% NSR 0.5% NSR Brownie 1% NSR 1 Mile 2021 ounces produced of 137,467. For 2023, Equinox Gold anticipates production of 80,000 to 90,000 ounces of gold, with approximately 60% of production coming in the second half of the year. Mining at Mesquite in 2023 will pivot to a small pit approach to reduce waste stripping, with ore being mined from Brownie Phase 3 and Vista East 3. While this will reduce ounces produced in 2023, efforts to establish additional Mineral Reserves through exploration and resource drilling will continue and Equinox will also continue the permitting required to enable mine life extensions beyond 2023. Mesquite has produced in excess of 5 Moz Ongoing resource expansion and planned leach pad extension 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ 4.1 $ 4.4 $ 4.2 M&I Resource (koz Au) 1 1,855 1,924 1,571 Inferred Resource (koz Au) 1 912 928 752 P&P Reserves (koz Au) 1 471 471 658 M&I Royalty Ounces (000s) 1, 2 34 31 25 Inferred Royalty Ounces (000s) 2 17 15 12 P&P Royalty Ounces (000s) 2 9 8 11 1 Please refer to the tables on pages 116-120 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 Resources and Mineral Reserves are subject to our royalty interest and estimates a rate of 1.85% is applicable Mesquite is a gold operation located in southeast California, approximately 70 km northwest of Yuma, Arizona and 230 km east of San Diego, California. The mine is an open-pit, run-of-mine, heap leach operation. Franco- Nevada holds royalties on the entire Mesquite mine property that range from a 0.5-2% NSR, depending on the claim block, as shown on the schematic. In 2022, 12,076 kt of ore were placed on pads at Mesquite at a grade of 0.42 g/t versus 9,740 kt of ore at a grade of 0.42 g/t in 2021. Mesquite produced 123,965 ounces of gold in 2022, a modest decrease from Mesquite Pacific Ocean Oregon Idaho Utah Nevada California Arizona MEXICO Mesquite, California