Franco-Nevada Corporation (“Franco-Nevada” or the “Company”) is pleased to announce that its Board of Directors has
raised its quarterly dividend and declared a quarterly dividend of US$0.36 per share payable on March 28, 2024 to
shareholders of record on March 14, 2024 (the “Record Date”). The increased dividend will be effective for the full 2024
fiscal year. This is a 5.88% increase from the previous US$0.34 per share quarterly dividend and marks the 17th consecutive
annual increase for Franco-Nevada shareholders. Canadian investors in Franco-Nevada’s IPO in December 2007 are now
receiving an effective 12.1% yield on their cost base.
Cobre Panama Update
Cobre Panama currently remains in a phase of preservation and safe maintenance with production halted. As a result of the
current suspension of operations, the Company is conducting an impairment analysis, the details of which will be disclosed
in its 2023 year-end financial statements.
Details for Upcoming Release of 2023 Year-End Results
Franco-Nevada will report its 2023 year-end results as follows:
2023 Results Release: March 5th after market close
Conference Call and Webcast: March 6th 10:00 am ET
Dial-in Numbers: Toll-Free: 1-888-390-0546
Conference Call URL (This allows participants to
join the conference call by phone without operator
assistance. Participants will receive an automated
call back after entering their name and phone
Replay (available until March 13th): Toll-Free: 1-888-390-0541
Passcode: 380736 #
Details for Dividend Declaration and Dividend Reinvestment Plan
The dividend has been declared in U.S. dollars and the Canadian dollar equivalent will be determined based on the daily
average rate posted by the Bank of Canada on the Record Date. Under Canadian tax legislation, Canadian resident
individuals who receive “eligible dividends” are entitled to an enhanced gross-up and dividend tax credit on such dividends.
The Company has a Dividend Reinvestment Plan (the “DRIP”) which allows shareholders of Franco-Nevada to reinvest
dividends to purchase additional common shares at the Average Market Price, as defined in the DRIP, subject to a discount
from the Average Market Price in the case of treasury acquisitions. The Company will issue additional common shares
through treasury at a 1% discount to the Average Market Price. The Company may, from time to time, in its discretion, change
or eliminate the discount applicable to treasury acquisitions or direct that such common shares be purchased in market
acquisitions at the prevailing market price, any of which would be publicly announced. Participation in the DRIP is optional.
The DRIP and enrollment forms are available on the Company’s website at www.franco-nevada.com. Canadian and U.S.
registered shareholders may also enroll in the DRIP online through the plan agent’s self-service web portal at
www.investorcentre.com/franco-nevada. Canadian and U.S. beneficial shareholders should contact their financial
intermediary to arrange enrollment. Non-Canadian and non-U.S. shareholders may potentially participate in the DRIP, subject
to the satisfaction of certain conditions. Non-Canadian and non-U.S. shareholders should contact the Company to determine
whether they satisfy the necessary conditions to participate in the DRIP.
This press release is not an offer to sell or a solicitation of an offer for securities. A registration statement relating to the
DRIP has been filed with the U.S. Securities and Exchange Commission and may be obtained under the Company’s profile
on the U.S. Securities and Exchange Commission’s website at www.sec.gov.
Franco-Nevada Corporation is the leading gold-focused royalty and streaming company with the largest and most diversified
portfolio of cash-flow producing assets. Its business model provides investors with gold price and exploration optionality
while limiting exposure to cost inflation. Franco-Nevada is debt-free and uses its free cash flow to expand its portfolio and
pay dividends. It trades under the symbol FNV on both the Toronto and New York stock exchanges.
For more information, please visit our website at www.franco-nevada.com or contact:
Chief Financial Officer