C A S T L E M O U N T A I N Location: California, United States | Operator: Equinox Gold Corp. | Precious Metals: Au | Royalty: NSR: 2.65- 4.65% The Castle Mountain mining property is located in California, close to the Nevada border and is in the historic Hart Mining District, 120 km south of Las Vegas, Nevada. 2024 2023 2022 Revenue to Franco-Nevada ($ million) $ 1.3 $ 1.1 $ 1.1 M&I Resources (koz Au)1 5,638 5,638 5,638 Inferred Resources (koz Au)1 1,422 1,422 1,422 P&P Reserves (koz Au)1 4,168 4,168 4,168 M&I Royalty Ounces (000s)1,2 159 159 149 Inferred Royalty Ounces (000s)2 40 40 38 P&P Royalty Ounces (000s)2 118 118 110 1 Please refer to the tables on pages 114-120 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 2.82% is applicable The Castle Mountain mine is operated by Equinox Gold. The Castle Mountain land holdings total greater than 40 km2 of patented and unpatented claims. The mine was previously operated by Viceroy Gold and MK Resources and produced over 1.2 million ounces of gold. Franco-Nevada currently holds a 2.65% NSR covering all of the existing Castle Mountain mine and extending 10 miles from the boundary of the mine. On May 2, 2022, Franco-Nevada acquired the ‘American Standard’ 2% NSR on the Pacific Clay claims, which comprise a portion of the JSLA pit. When combined with the 2.65% NSR, Franco-Nevada now has a 4.65% NSR on the Pacific Clay claims. Redevelopment of Castle Mountain was planned in two phases. Small scale operations were initiated in Phase 1 while permits were progressed for Phase 2. In September 2024, mining operations at Castle Mountain were temporarily suspended to focus on Phase 2 permitting. Once permitted, Phase 2 is expected to average 218,000 ounces per year during a 14-year mine life. Phase 2 requires modification to Equinox Gold’s approved Mine and Reclamation Plan (“Plan”) and those permits are expected in 2027. The 2021 feasibility study showed a two-year construction period which would put first production from Phase 2 in 2029. Castle Mountain Mine Las Vegas Los Angeles Mexico California Nevada Oro Belle Mined Pit Jumbo Mined Pit JSLA Mined Pit South Waste Dump West Waste Dump Pacifc Clay claims 4.65% NSR Heap Leach Pad 2.65-4.65% NSR Castle Mountain 2.65-4.65% NSR *Plus 10 Mile Area of Interest Royalty lands 2.65% NSR Pits 1,000 metre 0 2,000 N Permitting Phase 2 expansion to increase production to >200 koz per year Franco-Nevada’s royalty covers entire project area with a 10-mile area of interest TSX / NYSE: FNV 68 ★ Franco-Nevada Corporation United States Overview Precious Metals