Franco-Nevada (FNV) Investor presentation summary

Producing asset updates

• Cobre Panamá resumed stockpile processing in Q2 2026, with a government decision on full operations expected by year-end 2026.

• Candelaria targets underground expansion to 14 ktpd by 2027 and 22 ktpd by 2030, with recent weather events not impacting annual guidance.

• Antamina's mine life extended to 2036 after regulatory approval, with medium-term growth from a new crushing and conveying project.

• Antapaccay's Coroccohuayco project could extend mine life by 30+ years, with a final investment decision due in H2 2026.

• Detour Lake aims for 1 Mozpa by 2031, with underground production as early as 2028 and ongoing exploration success.

Ramp-up, construction, and diversified assets

• Valentine Gold achieved commercial production, with a phase 2 expansion approved and construction completion expected in late 2028.

• Calcatreu resumed operations after a temporary regulatory suspension, producing first gold in June 2026.

• Eskay Creek received all major permits, with operations planned to start in Q2 2027.

• Stibnite Gold secured $2.9B in project financing, with legal challenges largely unsuccessful and new high-grade discoveries reported.

• Youanmi gold project in Australia acquired a 1% NSR royalty, with first production expected mid-2027.

Development asset progress

• PSJ Cobre Mendocino in Argentina received RIGI approval, with a feasibility study due late 2026 and initial production in 2029.

• Cascabel in Ecuador saw Jiangxi Copper complete its takeover and exercise buy-down options.

• Arthur Gold in Nevada released PFS results supporting a nine-year mine life, with FS to begin in August 2026.

• Copper World Project in Arizona is nearing DFS completion, with first production expected in H2 2029.

• Kerr-Addison in Ontario secured C$385M in IPO funding, with infill drilling highlighting resource growth potential.