Cobre Panama Operations Update
NEWS RELEASE
Toronto, November 13, 2023
Cobre Panama Operations Update
Franco-Nevada Corporation (“Franco-Nevada”) (TSX: FNV) (NYSE: FNV) notes that its partner, First Quantum Minerals Ltd.
(“First Quantum”), has issued an update announcing that its subsidiary, Minera Panama S.A., has begun to reduce ore
processing operations at the Cobre Panama mine by ramping down one ore processing train while two remain operational.
First Quantum has reported that an illegal blockade of small boats at the Punta Rincon port has affected deliver y of supplies
for the mine’s on-site power generation plant which is necessary for full operations and has also hindered the loading of
copper concentrate onto vessels.
For more detailed information, please refer to First Quantum’s press release dated November 13, 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
Forward-Looking Statements
This press release 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 include, but are not limited to, statements with
respect to Minera Panama S.A.’s approach to operations and the effect of continued blockades on Cobre Panama. The outcome of these matters
could have a material adverse impact on the revenue Franco-Nevada derives from its streaming arrangements relating to Cobre Panama and on
Franco-Nevada’s results of operations and financial condition. There can be no assurance that such forward-looking statements will prove to be
accurate and actual results and future events could differ materially from those anticipated in such statements. Investors are cautioned that
forward-looking statements are not guarantees of future performance. Accordingly, investors should not place undue reliance on forward-looking
statements due to the inherent uncertainty therein.
For additional information with respect to risks, uncertainties and assumptions relating to Franco-Nevada’s business and assets, please refer to
Franco-Nevada’s most recent Annual Information Form filed with the Canadian securities regulatory authorities on www.sedarplus.com and Franco-
Nevada’s most recent Annual Report filed on Form 40-F filed with the SEC on www.sec.gov. The forward-looking statements herein are made as of
the date of this press release only and Franco-Nevada does not assume any obligation to update or revise them to reflect new information, estimates
or opinions, future events or results or otherwise, except as required by applicable law.