M E S Q U I T E Location: California, United States | Operator: Equinox Gold Corp. | Precious Metals: Au | Royalty: NSR: 0.5-2% Mesquite is a gold operation located in southeast California, 70 km northwest of Yuma, Arizona and 230 km east of San Diego, California. 2023 2022 2021 Revenue to Franco-Nevada ($ million) $ 3.1 $ 4.1 $ 4.4 M&I Resources (koz Au) 1 1,016 1,855 1,924 Inferred Resources (koz Au) 1 510 912 928 P&P Reserves (koz Au) 1 584 471 471 M&I Royalty Ounces (000s) 1,2 19 34 31 Inferred Royalty Ounces (000s) 2 9 17 15 P&P Royalty Ounces (000s) 2 11 9 8 1 Please refer to the tables on pages 118-124 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 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 2023, 16,988 kt of ore were placed on pads at Mesquite at a grade of 0.45 g/t versus 12,076 kt of ore at a grade of 0.42 g/t in 2022. Mesquite produced 87,753 ounces of gold in 2023, a decrease from 2022 ounces produced of 123,965 due to a smaller pit approach to reduce waste stripping and a longer leach cycle for some of the ore that was placed. For 2024, Equinox Gold anticipates production of 75 koz to 85 koz of gold, with approximately 65% of production expected in the first half of the year. Mining at Mesquite in 2024 will be focused on waste stripping the Ginger pit, which is expected to deliver the majority of ounces in early 2025. Efforts to establish additional mineral reserves through exploration and resource drilling are expected to continue along with permitting required to enable mine life extensions beyond 2024. An additional area that may be mined is the rehandling of the remainder of the Old Vista Pad material that will be re-stacked and leached on the current heap leach pad. Mesquite has produced in excess of 5 Moz Ongoing resource expansion and permitting to enable mine life extension Mesquite, California Brownie Big Chief Rainbow Vista 2% NSR 0.5% NSR 1% NSR Mesquite 0.5 -2% NSR Mesquite Pacific Ocean Oregon Idaho Utah Nevada California Arizona Mexico Royalty Property Pits mile 1 0 N Franco-Nevada Corporation ★ 49 TSX / NYSE: FNV United States