Canada Greenstone Location: Ontario, Canada ww Operator: Equinox Gold Corp. / Orion Mine Finance vievie Precious Metals: Au erer Royalty: NSR: 3% vv OO 2022 2021 2020 Revenue to Franco-Nevada ($ million) $ – $ – $ – M&I Resource (koz Au)1 7,007 7,105 7,008 Inferred Resource (koz Au)1 3,072 3,095 3,072 P&P Reserves (koz Au)1 5,538 5,538 5,539 1, 2 M&I Royalty Ounces (000s) 210 213 210 2 Inferred Royalty Ounces (000s) 92 93 92 2 P&P Royalty Ounces (000s) 166 166 166 Greenstone, Ontario etals 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 during the first five years is expected to average 414,000 ounces per 2 For Royalty Ounce calculation, Franco-Nevada estimates 100% of the Mineral Resources and Mineral annum with an average head grade of 1.45 g/t gold. Equinox Gold Reserves are subject to our royalty interest and estimates a rate of 3.0% is applicable ecious M anticipated approximately two years of construction with six months r P of commissioning. Franco-Nevada acquired a 3% NSR on Greenstone as part of its acquisition of a portfolio of approximately Equinox Gold announced that construction had commenced in Q4 2021 20 royalties from Barrick in November 2013. and that as of the end of December 2022 construction of the project was on schedule and budget. At that time the Greenstone project was 65% The Greenstone project, previously called Hardrock, is being advanced by complete and the first gold pour was expected in H1 2024. The project Greenstone Gold Mines L.P. (“Greenstone”), a 60/40 partnership between has a construction budget of $1.23 billion on a 100% basis. Equinox Gold and Orion Mine Finance, a private entity. The Greenstone mine encompasses a total Proven and Probable Mineral Reserve of Construction on schedule and budget with first 5.5 million ounces of gold (135.3 million tonnes grading 1.27 g/t) and a gold pour on track for the first half of 2024 total Inclusive M&I Resource of 7.0 million ounces of gold (151.1 million tonnes grading 1.44 g/t) for the project. An optimized feasibility Optimized feasibility study outlined potential study prepared in December 2020 contemplated the construction 14-year mine life producing 414,000 ounce per of a 27,000 tonne per day processing facility and open-pit mining annum during the first five years operation with production over a 14-year mine life. Gold production Greenstone Royalty Area 3% NSR 0 N 3 Ontario km Lindsey Errington Geraldton Ashmore Greenstone Mosher Shaft Other Royalty Claims SP Zone Hardrock Parent Salsberg Royalty Area McKelvie Mineralized zones 66 Franco-Nevada Corporation TSX / NYSE: FNV