(in U.S. dollars unless otherwise noted).
Franco-Nevada Reports Q2 2023 Results
Improved performance from core precious metal assets
“Our portfolio continues to generate strong cash flows and high margins. The second quarter’s results benefited from our core assets returning to normal production and deliveries caught up from the disruptions in Q1. Revenue from our
Diversified assets was impacted by lower oil, gas and iron ore prices compared to the relative highs of the prior year period” stated Paul Brink, CEO. “We expect Total GEOs for the year to be at the low end of our guidance range provided in March this year. We are looking forward to increased contributions from Cobre Panama, where the CP100 Expansion is on-track for year-end, and to contributions from royalties on several new mines. Franco-Nevada is debt-free and is growing its cash balances.”

Strong Financial Position
• No debt and $2.3 billion in available capital as at June 30, 2023
• Generated $261.9 million in operating cash flow during the quarter
• 16 consecutive annual dividend increases. Quarterly dividend of $0.34/share
Sector-Leading ESG
• Global 50 Top Rated and #1 gold company by Sustainalytics, AA by MSCI and Prime by ISS ESG
• Committed to the World Gold Council’s Responsible Gold Mining Principles
• Partnering with our operators on community and ESG initiatives
• Goal of 40% diverse representation at the Board and top leadership levels as a group by 2025
Diverse, Long-Life Portfolio
• Most diverse royalty and streaming portfolio by asset, operator and country
• Core precious metal streams on world-class copper assets outperforming acquisition expectations
• Long-life reserves and resources
Growth and Optionality
• Mine expansions and new mines driving 5-year growth profile
• Long-term optionality in gold, copper and nickel and exposure to some of the world’s great mineral endowments
• Strong pipeline of precious metal opportunities

Quarterly revenue and GEOs sold by commodity
Q2 2023 Q2 2022
GEOs Sold Revenue GEOs Sold Revenue
# (in millions) # (in millions)
PRECIOUS METALS
Gold 108,817 $ 213.9 102,714 $ 190.7
Silver 18,139 35.4 19,456 35.8
PGM 5,077 9.9 9,404 17.3
132,033 $ 259.2 131,574 $ 243.8
DIVERSIFIED
Iron ore 5,108 $ 10.1 7,769 $ 14.6
Other mining assets 2,691 5.1 1,322 2.4
Oil 19,751 36.9 25,342 46.2
Gas 6,583 14.2 20,939 37.9
NGL 2,349 4.4 4,106 7.4
36,482 $ 70.7 59,478 $ 108.5
168,515 $ 329.9 191,052 $ 352.3

see & read more on
https://s201.q4cdn.com/345177888/files/doc_financials/2023/q2/Franco-Nevada-Reports-Q2-2023-Results-vF-2023-08-08.pdf