Franco-Nevada (FNV) Corporate presentation summary

Transaction overview

• Acquiring a 7.5% gross margin royalty on the Côté and Gosselin deposits for US$1,050 million, payable at closing expected by end of Q2 2025.

• Royalty covers >99.9% of current in-pit gold resource ounces and key near-mine exploration targets.

• Immediate gold revenues expected upon closing, with the mine being one of Canada's largest at start of operations.

• New agreement replaces existing royalty, clarifies reporting, and allows registration on title.

• IAMGOLD and Sumitomo have options to buydown up to 50% of the royalty under specified IRR terms.

Asset and operational highlights

• Côté Gold Mine has 16 Moz Au M&I resources and 4.2 Moz Au inferred, ranking among Canada’s largest gold deposits.

• 2025 production guidance is 360–400 koz Au at cash costs of US$950–1,100/oz, inclusive of royalty payment.

• High-margin operation with gross margins above 70% at US$3,200/oz before royalty.

• Autonomous haulage and drilling fleet supports low-cost, modern mining operations.

• Near-term throughput increases expected with additional crushing capacity and expansion potential up to 20 Mtpa.

Resource expansion and exploration

• Ongoing 45,000 m drill program targets resource expansion immediately outside current resource pits.

• Recent drill results show significant intersections not yet included in the mineral resource estimate.

• Royalty area includes key near-mine exploration targets northeast of Gosselin and southwest of Côté.

• Extensive resource base supports future expansion, with an updated technical report expected in 2026.