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Cobre Panama Mining Concession Contract Enacted into Law in Panama

Corporate Updates

NEWS RELEASE

Toronto, October 23, 2023

Cobre Panama Mining Concession Contract Enacted into Law in

Panama

Franco-Nevada Corporation (TSX: FNV) (NYSE: FNV) is pleased to announce that it has been advised by its partner First

Quantum Minerals Ltd. (“First Quantum”) that, on October 20, 2023, Law 406, which approves the refreshed mining

concession contract for the Cobre Panama mine, was enacted into law in Panama. First Quantum noted that the enactment of

Law 406 marks the final step in revising the legal framework for the Cobre Panama mine.

For more detailed information, please refer to First Quantum’s press release dated October 22, 2023 .

For more information, please go to our website at www.franco-nevada.com or contact:

Paul Brink Sandip Rana

President & Chief Executive Officer Chief Financial Officer

416-306-6305 416-306-6303

[email protected]