Franco-Nevada (FNV) Corporate presentation summary

Business model and strategy

• Delivers a proven business model with a focus on shareholder alignment, financial flexibility, and adaptable investment style.

• Maintains low general and administrative costs, avoids long-term debt, and pays progressive, sustainable dividends.

• Prioritizes creative capital solutions for high-quality projects and strong technical asset selection.

• Holds a diversified portfolio with 120 cash-flowing assets and significant available capital for growth.

ESG and governance

• Recognized as a top-rated gold company by Sustainalytics and holds AA MSCI ESG ratings.

• Operates under five ESG pillars, including responsible capital allocation, community contributions, and transparent disclosure.

• Emphasizes good governance, shareholder alignment, and fostering diversity and inclusion.

Financial performance and shareholder returns

• Achieved a 16% compounded annual return since IPO and 18 consecutive dividend increases.

• Paid over $2.6B in dividends since IPO, with a 13% dividend CAGR from 2008 to 2025.

• Revenue, adjusted EBITDA, operating cash flow, and adjusted net income per share have each grown over 6x since IPO.

• Maintains high margins and low costs, with 2024 adjusted EBITDA margin at 86% and net income margin at 56%.