United States Mesquite Location: California, United States Operator: Equinox Gold Corp. Precious Metals: Au Royalty: NSR: 0.5-2% 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 1, 2 M&I Royalty Ounces (000s) 34 31 25 2 Inferred Royalty Ounces (000s) 17 15 12 2 P&P Royalty Ounces (000s) 9 8 11 Mesquite, California 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 2021 ounces produced of 137,467. For 2023, Equinox Gold anticipates 2 For Royalty Ounce calculation, Franco-Nevada estimates 100% of the Mineral Resources and Mineral production of 80,000 to 90,000 ounces of gold, with approximately 60% Reserves are subject to our royalty interest and estimates a rate of 1.85% is applicable of production coming in the second half of the year. Mesquite is a gold operation located in southeast Mining at Mesquite in 2023 will pivot to a small pit approach to reduce California, approximately 70 km northwest of Yuma, waste stripping, with ore being mined from Brownie Phase 3 and Vista Arizona and 230 km east of San Diego, California. East 3. While this will reduce ounces produced in 2023, efforts to establish additional Mineral Reserves through exploration and resource drilling The mine is an open-pit, run-of-mine, heap leach operation. Franco- will continue and Equinox will also continue the permitting required to Nevada holds royalties on the entire Mesquite mine property that enable mine life extensions beyond 2023. range from a 0.5-2% NSR, depending on the claim block, as shown on the schematic. Mesquite has produced in excess of 5 Moz In 2022, 12,076 kt of ore were placed on pads at Mesquite at a grade of Ongoing resource expansion and planned leach D 0.42 g/t versus 9,740 kt of ore at a grade of 0.42 g/t in 2021. Mesquite iv produced 123,965 ounces of gold in 2022, a modest decrease from pad extension ersified A ssets Big Chief Rainbow M Brownie 0.5% iner NSR al R esour c 1% NSR es and M $500 Mesquite Mine Gold Pit Vista iner al R N eser 2% NSR v 1 Mile es Oregon Idaho Nevada Utah Pacific California Ocean Arizona Mesquite MEXICO A dditional I nf orma tion TSX / NYSE: FNV Franco-Nevada Corporation 47