Franco-nevada Corporation · TSX:FNV
Franco-nevada — Q2 2024 Earnings Presentation
15 slides from Franco-nevada's earnings presentation, Aug 14, 2024
Slide 1: Q2 2024 Results Presentation
Q 2 2 0 2 4 R E S U L T S P R E S E N T A T I O N A U G U S T 1 4 , 2 0 2 4
Slide 2: Cautionary Statement
CAUTIONARY STATEMENT 2 Forward-Looking Statements This presentation contains “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian securities laws and the United States Private Securities Litigation Reform Act of 1995, respectively, which may includ
Slide 3: Speakers
SPEAKERS 3 Paul Brink Sandip Rana Eaun Gray President & CEO CFO SVP, Business Development
Slide 4: Total GEOs Sold & Revenue
TOTAL GEOs SOLD & REVENUE 4 Total GEOs Sold Revenue (GEOs1 000’s) $ (millions) 200 $400 180 $360 160 $320 140 $280 120 $240 100 $200 80 $160 60 $120 40 $80 20 $40 - $- Q2 2023 Q2 2024 Q2 2023 Q2 2024 Precious Metals (excludes Cobre Panama) Diversified Cobre Panama Total Revenue (excludes Cobre Panam
Slide 5: Average Commodity Price Changes
AVERAGE COMMODITY PRICE CHANGES 5 1. Based on LBMA PM Fix for gold, platinum and palladium. Based on LBMA Fix for silver 2. Based on Bank of Canada daily rates
Slide 6: Key Financial Metrics
KEY FINANCIAL METRICS 6 Q2 2024 H1 2024 Gold Equivalent Ounces (GEOs)1 110,264 233,161 Revenue $260.1 $516.9 Adjusted EBITDA1 (millions) $221.9 $438.0 Adjusted EBITDA Margin1 85.3% 84.7% Net Income (millions) $79.5 $224.0 Net Income per share $0.41 $1.17 Adjusted Net Income1 (millions) $144.9 $280.8
Slide 7: Q2 2024 Revenue Diversification
Q2 2024 REVENUE DIVERSIFICATION 7 Gas 5% Rest of Candelaria World Oil 18% 14% 14% NGL 1% Other Antapaccay Mexico 35% 8% Other Mining 6% Canada 6% & USA PGM Gold MWS 40% 3% 61% 7% Guadalupe Silver 11% 6% South America 36% Energy 20% Condestable 5% Antamina 5% COMMODITY GEOGRAPHY ASSETS 75% from 82% f
Slide 8: Growing GEO Margin
GROWING GEO MARGIN 8 2,500 2,000 1,500 US$ $1,698 $1,625 $1,680 $1,799 $2,074 1,000 500 $280 $304 $296 $273 $264 - Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Cash cost per GEO¹ Margin Business model benefits from rise in commodity prices with consistent cost structure 1. Please refer to the appendix at
Slide 9: Available Capital
AVAIL ABLE CAPITAL 9 Available Cash and cash Credit capital3 equivalents1 Facility1, 2 ≈$1.4B ≈$1B $2.4B DEBT FREE 1. As at June 30, 2024 2. 3. $1B Corporate Revolver Funding commitments subsequent to June 30, 2024, include $210 million for the acquisition of the Yanacocha royalty. N U E VA U N I Ó
Slide 10: SolGold Transaction Highlights
SOLGOLD TRANSACTION HIGHLIGHTS 10 • Franco-Nevada (70%) and Osisko Royalties (30%) syndicated US$750M gold stream financing for the development and construction of SolGold’s Cascabel deposit in Ecuador • Franco-Nevada to make $70M available in tranches pre-construction and remaining $455M of constru
Slide 11: Cascabel Project Overview
CASCABEL PROJECT OVERVIEW 11 Positive PFS Study (March 8, 2024)1 • Alpala deposit has high grade reserves that support a block caving operation with attractive development economics1 Total M&I Resource 18.2 Mt CuEq2 (Alpala + TAM) • Current mine plan represents only a small portion of the known LOM
Slide 12: Gold Stream Summary
GOLD STREAM SUMMARY 12 Key Stream Terms Syndication : • 70% Franco-Nevada / 30% Osisko Total Deposit: • US$750M (FNB US$525M) Location: • Ecuador • 20% (FNB 14.0%) of gold produced in concentrate until 750Moz (FNB 525koz) of gold have been Stream Parameters delivered (100% basis): • Thereafter, 12%
Slide 13: Yanacocha 1.8% Royalty Acquisition
YANACOCHA 1.8% ROYALT Y ACQUISITION 13 • Franco-Nevada has acquired a 1.8% net smelter return royalty from Buenaventura covering Newmont’s Yanacocha mine and Yanacocha Sulfides project o Royalty also covers surrounding deposits, including Conga Royalty Coverage (+750 km2) • Upfront consideration of
Slide 14: franco-nevada.com
FRANCO-NEVADA.COM TSX/NYSE: FNV
Slide 15: Appendix - GEOs and Non-GAAP Measures
APPENDIX-GEOS AND NON-GAAP MEASURES 15 1. GEOs include Franco-Nevada’s attributable share of production from our Mining and Energy assets, after applicable recovery and payability factors. GEOs are estimated on a gross basis for NSR royalties and, in the case of stream ounces, before the payment of