Franco-nevada Corporation · TSX:FNV
Franco-nevada — Q1 2026 Earnings Presentation
13 slides from Franco-nevada's earnings presentation, May 13, 2026
Slide 1: Results Presentation May 13, 2026
R E S U L T S P R E S E N T A T I O N M A Y 1 3 , 2 0 2 6 Hoyle Pond, Timmins, Ontario | Image Courtesy of the ROM (Royal Ontario Museum), Toronto, Canada. ©ROM
Slide 2: Cautionary Statement: Forward-Looking Statements
C A U T I O N A R Y S TAT E M E N T 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, whi
Slide 3: Speakers
SPEAKERS Paul Brink Sandip Rana President & CEO CFO 3
Slide 4: Average Price Changes
AV E R A G E P R I C E C H A N G E S 1. Based on LBMA PM Fix for gold, platinum and palladium. Based on LBMA Fix for silver 4 2. Based on Bank of Canada daily rates.
Slide 5: Performance – Key Metrics Quarterly
P E R F O R M A N C E – K E Y M E T R I C S Q U A R T E R LY GEOs Sold1 Total Revenue Adjusted EBITDA1 Adjusted Net Income1 $ (million) $ (million) $ (million) +8% 160,000 $700 +77% +84% +123% $700 $500 140,000 $600 $600 $400 120,000 $500 $500 100,000 $300 $400 $400 80,000 $300 $300 $200 60,000 $200
Slide 6: Key Financial Metrics
KEY FINANCIAL METRICS Q1 2026 Q1 2025 Variance Average Gold Price ($/oz) $4,875 $2,863 70% Gold Equivalent Ounces (GEOs)1 136,353 126,585 8% Revenue $650.7 $368.4 77% Adjusted EBITDA1 (millions) $591.9 $321.9 84% Adjusted EBITDA1 per share $3.07 $1.67 84% Net Income (millions) $468.6 $209.8 123% Net
Slide 7: Q1 2026 Revenue Diversification
Q 1 2 0 2 6 R E V E N U E D I V E R S I F I C AT I O N COMMODITY GEOGRAPHY ASSETS DEAL TYPE 7
Slide 8: Growing GEO Margin
GROWING GEO MARGIN 6,000 5,000 $4,534 4,000 $3,795 $3,116 3,000 $2,980 $2,559 US$ 2,000 1,000 $304 $299 $340 $350 $341 - Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Cash cost per GEO¹ Margin Business model benefits from rise in commodity prices with consistent cost structure 1. Please refer to the appen
Slide 9: Progressive & Sustainable Dividends
P R O G R E S S I V E & S U S TA I N A B L E D I V I D E N D S L E A D I N G T R A C K R E C O R D 19 CONSECUTIVE INCREASES US$0.44/share1 Quarterly Dividend >$2.8B2 Dividends paid since IPO3 $340M 2026 dividends to be paid 11.5% yield (U.S.)2 15.8% yield (CDN)2 IPO shareholder realizing 13% Dividen
Slide 10: Available Capital
AVA I L A B L E C A P I TA L AS AT MARCH 31, 2026 $3.4 billion Debt Free + Cash Generated by Operations $450M -$500M 3 per quarter 1 Undrawn Credit Facility includes $500 million Accordion | 2 Marketable Securities excludes our long-term investment in Labrador Iron Ore Company of Canada | 3 Estimate
Slide 11: franco-nevada.com
FRANCO-NEVADA.COM TSX/NYSE: FNV Hoyle Pond, Timmins, Ontario | Image Courtesy of the ROM (Royal Ontario Museum), Toronto, Canada. ©ROM
Slide 12: GEOs and Net GEOs
GEOS AND NET GEOs A P P E N D I X GEOs include Franco-Nevada’s attributable share of production from our Mining and Energy assets, after applicable Net GEOs are GEOs sold, net of direct operating costs, including, for our stream GEOs, the associated ongoing cost recovery and payability factors. GEOs
Slide 13: Non-GAAP Measures
NON-GAAP MEASURES A P P E N D I X Non-GAAP Financial Measures: Cash Costs, Cash Costs per GEO sold, Adjusted Net Income, Adjusted Net Income per Share, Adjusted Net Income Margin, Adjusted EBITDA, Adjusted EBITDA per share, and Adjusted EBITDA Margin are non-GAAP financial measures with no standardi