G R E E N S T O N E Location: Ontario, Canada | Operator: Equinox Gold Corp. | Precious Metals: Au | Royalty: NSR: 3% Franco-Nevada acquired a 3% NSR on Greenstone as part of its acquisition of a portfolio of approximately 20 royalties from Barrick in November 2013. 2024 2023 2022 Revenue to Franco-Nevada ($ million) $ 9.2 $ − $ – M&I Resources (koz Au)1 7,918 7,008 7,007 Inferred Resources (koz Au)1 2,763 3,072 3,072 P&P Reserves (koz Au)1 5,700 5,539 5,538 M&I Royalty Ounces (000s)1,2 238 210 210 Inferred Royalty Ounces (000s)2 83 92 92 P&P Royalty Ounces (000s)2 171 166 166 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 3.0% is applicable The Greenstone mine, previously called Hardrock, is operated by Equinox Gold Corp. (“Equinox Gold”). Equinox Gold consolidated 100% ownership of the property in May 2024. The Greenstone mine encompasses a total Proven and Probable Mineral Reserve of 5.7 million ounces of gold (144.7 million tonnes grading 1.23 g/t) and a total Inclusive M&I Resource of 7.9 million ounces of gold (174.6 million tonnes grading 1.41 g/t) for the mine. An updated technical report was released in October 2024 outlining a 27,000 tonne per day processing facility and open pit mining operation with production over a 15-year mine life. Gold production during the first five years is expected to average 390,000 ounces per annum and 330,000 ounces of gold annually over the life of mine. Equinox Gold reported that commercial production was achieved in November 2024, having produced 111,717 gold ounces in 2024. In 2025, Equinox Gold expects Greenstone to produce between 300,000 and 350,000 gold ounces. Salsberg Ashmore McKelvie Lindsey Parent Errington Ontario Greenstone Mosher Shaft SP Zone Hardrock Geraldton Other Royalty Claims Other Royalty Claims FNV Royalties Mineralized zones Excluded from Royalty Greenstone 3% NSR kilometer 3 0 N 3% NSR Commercial production achieved in November 2024 Initial 15-year mine life 390 koz per annum during the first five years Franco-Nevada Corporation ★ 45 TSX / NYSE: FNV Canada Additional Information Mineral Resources and Mineral Reserves Diversified Assets