2022 ASSET HANDBOOK 60 FNV TSX NYSE United States PRECIOUS METALS 2021 2020 2019 Revenue to Franco-Nevada ($ million) $ 4.4 $ 4.2 $ 2.8 P&P Reserves (koz Au) 1 471 658 1,004 M&I Resource (koz Au) 1 1,924 1,571 2,902 Inferred Resource (koz Au) 1 928 752 184 P&P Royalty Ounces (000s) 2 8 11 16 M&I Royalty Ounces (000s) 1, 2 31 25 46 Inf Royalty Ounces (000s) 2 15 12 3 1 Please r efer to the tables on pages 128-136 for a breakout of grade and tonnages by Mineral Resource category; all M&I categories are inclusive of Mineral Reserves 2 For Ro yalty Ounce calculation, Franco-Nevada estimates 100% of the Mineral Reserves and Mineral Resources are subject to our royalty interest and estimates a rate of 1.60% is applicable Mesquite Au California, United States Operator: Equinox Gold Corp. Royalty: NSR: 0.5-2% Precious Metals Mesquite is a gold operation located in south-east California, approximately 70 km northwest of Yuma, Arizona and 230 km east of San Diego, California. 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. Mesquite pr oduced 137,467 ounces of gold in 2021, a modest decrease from 2020 ounces produced of 141,270. For 2022, Equinox Gold anticipates production of 120,000 to 130,000 ounces of gold, with approximately 60% of production coming in the second half of the year. Equino x Gold transitioned from waste stripping to mining oxide ore from the Brownie deposit during Q3 2021. In 2022, Equinox Gold will be focused on processing almost entirely Brownie pit ore and a stripping campaign to open up the new VE2 ore body, which will be the major source of ore in Q4 2022. Equinox Gold plans to invest in a leach pad expansion and exploration projects to support a longer life of mine. In September 2021, Equinox Gold announced an updated reserve and resource estimate for Mesquite with measured and indicated resources, exclusive of reserves, increasing by 65%. Resource growth occurred primarily at the Brownie, VE2 and Rainbow deposits. Commenced stripping campaign to open up the new VE2 ore body Ongoing resource expansion and planned leach pad extension N Mesquite Mine Big Chief Rainbow Vista $500 Gold Pit 2% NSR 0.5% NSR Brownie 1% NSR 1 Mile Mesquite Pacific Ocean Oregon Idaho Utah Nevada California Arizona MEXICO Mesquite, California