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 mine life extensions and underground expansion to 22 ktpd by 2030, with minimal impact from July weather events.

• Antamina received regulatory approval, extending mine life to 2036, with medium-term growth from a crushing and conveying project.

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

• Guadalupe-Palmarejo and Condestable reported positive drilling and expansion plans, supporting resource growth and mine life extension.

Royalties and ramp-up projects

• Detour Lake aims for 1 Mozpa by 2031, with underground production as early as 2028 and confirmed grade continuity.

• Musselwhite and Canadian Malartic advanced exploration and shaft development, supporting future production increases.

• Magino and Island Gold plan significant mill and mining rate expansions, with reserve increases and ramp-ups through 2029.

• Séguéla approved a plant expansion to boost annual production to 200koz, with a 31% reserve increase.

• Hemlo and Porcupine continue aggressive drilling and exploration, with updated technical reports and resource growth.

Diversified, construction, and development news

• Vale royalty benefits from new Southeastern System contributions, offset by lower 2026 production forecasts.

• Valentine Gold achieved commercial production and approved a Phase 2 expansion, targeting 223 koz/year over 10 years.

• Eskay Creek and Stibnite Gold advanced permitting and financing, with construction and exploration progressing.

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

• Several development projects, including PSJ Cobre Mendocino, Cascabel, and Arthur Gold, advanced feasibility studies and permitting, with initial production timelines set for 2026–2029.