“Franco-Nevada is reporting robust fourth quarter and annual outcomes for 2022. Our Diversified belongings outperformed resulting from elevated power costs within the yr, acknowledged Paul Brink CEO. We’re happy that First Quantum and the Authorities of Panama have agreed on phrases for a refreshed concession contract and sit up for Cobre Panama attaining its expanded throughput capability later this yr. Valuable steel GEOs and Diversified manufacturing in 2023 are anticipated to be in keeping with 2022. We’re nevertheless guiding to decrease complete GEOs for the yr as present power costs are beneath 2022 ranges. The natural progress in our 5 yr outlook comes from each mine expansions and new mines. Franco- Nevada is debt-free, is rising its money balances and has an energetic pipeline of progress alternatives.”

Robust Monetary Place

• Earned document GEOs, income, Adjusted Web Revenue, Adjusted EBITDA and working money stream in 2022
• No debt and $2.2 billion in obtainable capital as at December 31, 2022
• Generated near $1 billion in working money stream in 2022
• Quarterly dividend elevated 6.25% to $0.34 /share efficient Q1 2023

Sector-Main ESG

• Ranked #1 gold firm by Sustainalytics, AA by MSCI and Prime by ISS ESG
• Named on the Company Knights’ 2022 listing of the Greatest 50 Company Residents in Canada
• Dedicated to the World Gold Council’s “Accountable Gold Mining Ideas”
• Partnering with our operators on neighborhood and ESG initiatives
• Objective of 40% numerous illustration on the Board and prime management ranges as a gaggle by 2025

Various, Lengthy-Life Portfolio

• Most numerous royalty and streaming portfolio by asset, operator and nation
• Core belongings outperforming since time of acquisition
• Lengthy-life reserves and sources

Progress and Optionality

• Acquisitions, mine expansions and new mines driving future progress
• Lengthy-term optionality in gold, copper and nickel and to among the world’s nice mineral endowments
• Robust pipeline of treasured steel alternatives

In This fall 2022, we earned $320.4 million in income, down 2.2% from This fall 2021. The lower was pushed by decrease contributions from our Valuable Metallic and Iron Ore belongings, largely offset by our Power belongings resulting from greater realized oil and fuel costs. Valuable Metallic income accounted for 70.7% of our income (55.6% gold, 10.2% silver, 4.9% PGM). Income was sourced 90.5% from the Americas (26.8% South America , 22.8% Central America & Mexico , 27.0% U.S. and 13.9% Canada ).

2023 Steering

Please see our MD&A for the yr ended December 31, 2022 for extra particulars on our steering and see “Ahead-Trying Statements” beneath.

For 2023, we count on GEO gross sales from our Valuable Metallic belongings to vary between 490,000 and 530,000 GEOs, in keeping with 2022, however anticipate complete GEOs gross sales to be between 640,000 and 700,000 GEOs, a discount from 2022 based totally on decrease assumed oil and fuel costs. With respect to Cobre Panama, based mostly on First Quantum’s most up-to-date 2023 steering of between 350,000 and 380,000 tonnes of copper, our attributable GEO manufacturing could be between 131,000 and 142,000 GEOs. Following the restriction of focus shipments in February, we now have made a bigger allowance for the affect of cargo timing for the yr. We have now estimated GEOs delivered and offered from Cobre Panama to be between 115,000 and 135,000 GEOs. We count on greater manufacturing from Antapaccay, MWS and Musselwhite, and preliminary contributions from new mines together with Magino, Séguéla and Salares Norte, partly offset by anticipated decreases in GEO gross sales from Antamina, Hemlo and Candelaria . For our Diversified belongings, we’re guiding to decrease GEOs, reflecting decrease assumed oil and fuel costs, partly offset by greater GEO contributions from our Iron Ore and Different Mining belongings.

We estimate depletion expense to be between $275 and $305 million . Our remaining capital dedication to the Royalty Acquisition Enterprise with Continental is $79.4 million . As well as, we count on to begin funding of our $250 million stream on the Tocantinzinho venture on the finish of Q1 2023.

5-Yr Outlook

We count on our portfolio to supply between 760,000 and 820,000 GEOs in 2027, of which 565,000 to 605,000 GEOs are anticipated to be generated from Valuable Metallic belongings. This outlook assumes the enlargement of the mill throughput capability to 100 million tonnes per yr at Cobre Panama, elevated attributable manufacturing from Vale’s Northern and Southeastern methods, manufacturing progress from the continued growth of our U.S. Power belongings, and assumes the graduation of manufacturing at Stibnite, Copper World and Eskay Creek . In our 5-year outlook, we additionally anticipate that our attributable portion of gold and silver manufacturing from Candelaria will step down from 68% to 40%, and that our stream at MWS could have reached its cap in 2024.

For each our 2023 steering and 5-year outlook, when reflecting income earned from gold, silver, platinum, palladium, iron ore, oil and fuel commodities to GEOs, we assumed the next costs: $1,800 /oz Au, $21 /oz Ag, $900 /oz Pt, $1,500 /oz Pd, $120 /tonne Fe 62% CFR China, $80 /bbl WTI oil and $3.00 /mcf Henry Hub pure fuel. As well as, we don’t assume some other acquisitions and don’t mirror any incremental income from further contributions we could make to the Royalty Acquisition Enterprise with Continental as a part of our remaining dedication of $79.4 million . The 2023 steering and 5-year outlook are based mostly on public forecasts and different disclosure by the third-party homeowners and operators of our belongings and our evaluation thereof.

Environmental, Social and Governance (ESG) Updates

Throughout the quarter, we partnered with Glencore at Antapaccay to assist fund the Alto Huarco neighborhood potable water venture in Espinar, Peru and in addition fulfilled our charitable dedication beneath our BlackNorth pledge. We proceed to rank extremely with main ESG ranking businesses. We had been awarded a Sustainalytics International 50 High Rated ranking, given to the highest 50 firms within the Sustainalytics rankings universe, and obtained our 2022 CDP rating of “B-“.

Portfolio Additions

• Acquisition of Gold Royalties – Australia : Subsequent to year-end, on February 22, 2023 , we acquired a portfolio of 5 primarily gold royalties from Trident Royalties Plc, which features a 1.5% NSR on Ramelius Assets’ Rebecca gold venture situated in Western Australia , for complete consideration of $15.6 million .
• Acquisition of Further Royalty on Eskay Creek : On December 30, 2022 , we acquired an extra 0.5% NSR on Skeena’s Eskay Creek gold-silver venture for complete consideration of $21.0 million ( C$28.5 million ). We now maintain a 1.5% NSR over Eskay Creek overlaying the vast majority of the venture’s land package deal, together with the identified Mineral Useful resource.
• Financing Package deal with Argonaut Gold on the Magino Gold Venture : As beforehand introduced, on October 27, 2022 , we acquired a 2% NSR on Argonaut Gold Inc.’s (“Argonaut”) construction-stage Magino gold venture for a purchase order worth of $52.5 million . We additionally accomplished a non-public placement with Argonaut of $10.0 million ( C$13.6 million ).

Cobre Panama Replace

As beforehand introduced on February 23, 2023 , ore processing operations at Cobre Panama had been suspended whereas negotiations between First Quantum and the Authorities of Panama on a refreshed concession contract had been ongoing. On March 8, 2023 , First Quantum and the Authorities of Panama agreed and finalized the draft of a concession contract for Cobre Panama. The proposed concession contract is topic to a 30-day public session course of and approvals by the Panamanian Cupboard, Comptroller Common of the Republic and the Nationwide Meeting. MPSA has obtained authorization from the Panama Maritime Authority and focus loading operations on the Punta Rincón port have resumed. Cobre Panama processing operations have resumed to regular ranges with all three trains working. MPSA continues to remobilize the workforce to full staffing ranges.

This fall 2022 Portfolio Updates

Valuable Metallic belongings: GEOs offered from our Valuable Metallic belongings had been 129,642, in comparison with 138,799 GEOs in This fall 2021. Larger contributions from Hemlo , Tasiast and Subika (Ahafo) had been greater than offset by decrease deliveries from Antapaccay, Cobre Panama and Guadalupe-Palmarejo.

South America:

• Candelaria (gold and silver stream) – GEOs delivered and offered in This fall 2022 had been comparatively in keeping with these offered in This fall 2021. For 2023, we forecast GEO gross sales of between 60,000 and 70,000 GEOs, a lower in comparison with 69,854 GEOs offered in 2022 resulting from sequencing of the open pit.
• Antapaccay (gold and silver stream) – GEOs delivered and offered had been decrease in This fall 2022 in comparison with This fall 2021 resulting from anticipated decrease grades in 2022 based mostly on sequencing of the mine. For 2023, we anticipate GEOs offered to extend from 53,023 GEOs in 2022 to between 57,500 and 67,500 GEOs reflecting greater anticipated manufacturing based mostly on the mining sequence.
• Antamina (22.5% silver stream) – GEOs delivered and offered had been decrease in This fall 2022 in comparison with This fall 2021, partly resulting from a much less beneficial silver to gold conversion ratio. For 2023, we anticipate between 2.4 to 2.8 million silver ounces, in comparison with 3.1 million silver ounces offered in 2022, resulting from silver grades that are forecasted to be decrease than common in 2023.
• Salares Norte (1-2% royalties) – Gold Fields reported complete venture completion of 87% for the development of Salares Norte on the finish of December 2022 . With the graduation of business manufacturing at Salares Norte now anticipated in This fall 2023, we don’t anticipate significant royalty funds till 2024.
• Tocantinzinho (gold stream) – G Mining Ventures reported that, as of December 31, 2022 , the venture continues to be on monitor and on finances for business manufacturing to start out in H2 2024.
• Cascabel (1% royalty) – In February 2023 , SolGold and Cornerstone Capital Assets accomplished the beforehand introduced pleasant merger, consolidating the possession of the Cascabel venture beneath one mixed entity.
• Cerro Moro (2% royalty) – In January 2023 , shareholders of Yamana and Pan American Silver accepted the acquisition of Yamana by Pan American Silver. The transaction is predicted to shut in Q1 2023.
• Posse ( Mara Rosa ) (1% royalty) – Development of Mara Rosa is advancing on schedule and reported to be 50% full as of the top of December 2022 , with first manufacturing anticipated in H1 2024.

Central America & Mexico :

• Cobre Panama (gold and silver stream) – First Quantum reported robust manufacturing in This fall 2022, with copper manufacturing of 90,000 tonnes and mill throughput of twenty-two.4 million tonnes. New weekly and month-to-month throughput data had been additionally set in December 2022 . Our GEO deliveries had been decrease in This fall 2022 than within the prior yr interval as a result of timing of shipments.
• Guadalupe-Palmarejo (50% gold stream) – GEOs offered from Guadalupe-Palmarejo decreased in This fall 2022 in comparison with the identical quarter in 2021 resulting from a decrease proportion of manufacturing being sourced from floor lined by our stream.

U.S.:

• Stillwater (5% royalty) – We count on greater PGM manufacturing in 2023 than in 2022, with manufacturing charges normalizing because the regional flood that occurred in June 2022 . Nevertheless, manufacturing from Stillwater West is predicted to be briefly affected following an incident reported in March 2023 that broken shaft infrastructure. Moreover, we count on a much less beneficial conversion ratio to GEOs based mostly on the commodity costs assumed in our 2023 steering.
• Marigold (0.5-5% royalties) – SSR Mining plans vital waste stripping actions on the Crimson Dot deposit with an intention to optimize the longer-term manufacturing profile. For 2023, manufacturing is forecasted to extend based mostly on the mine sequencing.
• Stibnite Gold (1.7% royalty ) – With the remark interval on the Supplemental Draft Environmental Influence Assertion for the Stibnite venture closed in January 2023 , Perpetua Assets anticipates a draft Document of Resolution in mid-2023. In December, the Stibnite Gold venture was additionally awarded as much as $24.8 million beneath the U.S. Protection Manufacturing Act.
• Copper World/East Pit ( Rosemont ) (2.085% royalty) – Hudbay continues to advance the pre-feasibility research for Part I of Copper World, which is now anticipated in H1 2023, with a definitive feasibility research anticipated in 2024.

Canada:

• Detour Lake (2% royalty) – Detour Lake had document manufacturing of over 732,000 gold ounces in 2022. In 2023, the main focus stays on optimizing mill processes and bettering runtime to realize and probably surpass mill throughput of 28 million tonnes per yr. Exploration efforts are anticipated to give attention to extending mineralization to the west and establishing an preliminary underground mineral useful resource. Agnico Eagle additionally expects to offer an replace on the pathway to probably enhance manufacturing to 1 million ounces of gold per yr.
• Hemlo (3% royalty & 50% NPI) – Income from our Hemlo royalties was greater than in This fall 2021 reflecting improved working efficiency. Barrick introduced that it expects manufacturing from Hemlo to extend in 2023 relative to 2022, however we count on a decrease proportion to be sourced from our royalty floor.
• Brucejack (1.2% royalty) – Newcrest Mining is advancing a debottlenecking idea research to probably enhance the method plant capability, with a allow software anticipated in H1 2023. Drilling continued to substantiate the potential for useful resource progress on the Valley of the Kings deposit and surrounding space.
• Kirkland Lake (1.5-5.5% royalty & 20% NPI) – Agnico Eagle reported the completion of Shaft #4 and of a brand new air flow system at Macassa. Drilling is deliberate to proceed at AK in 2023 from the underground platforms that had been developed in 2022, with a give attention to persevering with to improve and enhance the indicated mineral sources. Franco- Nevada has a number of royalties at Macassa that embrace AK.
• Canadian Malartic (1.5% royalty) – Agnico Eagle reported that the Odyssey underground venture, which is predicted to increase the lifetime of the advanced to a minimum of 2039, is progressing on schedule and on finances, with shaft sinking actions anticipated to begin in March 2023 .
• Greenstone (Hardrock) (3% royalty) – Equinox Gold reported that development of the venture is on schedule and finances, with the Greenstone venture 65% full as of the top of December 2022 with the primary gold pour anticipated in H1 2024.
• Magino (2% royalty) – Argonaut reported that the development of the venture is roughly 80% full as of the top of December 2022 , with the primary gold pour anticipated in H1 2023.
• Valentine Gold (1.5% royalty) – Marathon Gold reported that the venture stays on schedule for first ore to be delivered to the mill by the top of 2024 and first gold manufacturing in Q1 2025, with total completion at 21% as of the top of January 2023 . In February 2023 , Marathon Gold exercised its possibility for a partial buy-back of our royalty, decreasing our NSR to 1.5%.
• Eskay Creek (1.5% royalty) – Skeena Assets introduced the invention of recent mineralization east of the 22 Zone in an space with no historic drilling, past the extents of Eskay Creek’s at present outlined pit-constrained sources.
• Ring of Fireplace (1-3% royalties) – Ring of Fireplace Metals introduced it had signed a Memorandum of Understanding with Webequie First Nation, detailing how the 2 events will work collectively to progress ongoing exploration actions in addition to negotiations on a partnership settlement for the proposed Eagle’s Nest mine.

Remainder of World:

• MWS (25% stream) – We count on a rise in GEOs from our stream at MWS in 2023 in comparison with in 2022, the place manufacturing in 2022 was impacted by materials and water provide constraints.
• Tasiast (2% royalty) – We anticipate elevated manufacturing at Tasiast, with Kinross reporting that the Tasiast 24k venture is progressing on schedule to achieve a throughput capability of 24,000 tonnes per day by mid-2023, with ramp-up to function constantly at this designed tonnage by the top of 2023.
• Séguéla (1.2% royalty) – Fortuna Silver Mines reported that development actions are progressing on time and on finances with the general venture 90% full as of the top of January 2023 , with the primary gold pour anticipated in mid-2023.

Diversified belongings: Our Diversified belongings, primarily comprising our Iron Ore and Power pursuits, generated $94.0 million in income, up from $78.6 million in This fall 2021, reflecting greater realized oil and fuel costs regarding our Power belongings.

Iron Ore:

• Vale Royalty (iron ore royalty) – Income from the Vale royalty decreased in comparison with This fall 2021 resulting from decrease iron ore costs and attributable gross sales. In 2023, we anticipate a rise in GEOs, reflecting the ramp-up of manufacturing at S11D and a extra beneficial GEO conversion ratio based mostly on the costs we now have assumed for our 2023 steering.
• LIORC – LIORC declared a money dividend of C$0.70 per widespread share in This fall 2022, reflecting decrease iron ore costs, in comparison with C$1.15 per widespread share in This fall 2021. Iron Ore Firm of Canada reported vital capital expenditures to improve present infrastructure on the Carol Lake mine.

Power:

• Marcellus (1% royalty) – Income from the Marcellus asset elevated in comparison with This fall 2021. Revenues benefited from greater NGL and pure fuel costs and a slight enhance in manufacturing.
• Haynesville (varied royalty charges) – Income from the Haynesville portfolio elevated in comparison with This fall 2021, because the asset benefited from greater pure fuel costs and elevated manufacturing from new wells.
• SCOOP/STACK (varied royalty charges) – Income from the SCOOP/STACK elevated in comparison with This fall 2021 resulting from greater costs and elevated manufacturing from our pursuits earned by means of the Royalty Acquisition Enterprise with Continental Assets. In November 2022 , Continental Assets accomplished the beforehand introduced merger settlement with an entity privately-owned by the household of Harold G. Hamm , Continental Assets’ founder. The transaction doesn’t straight affect our Royalty Acquisition Enterprise with Continental.
• Permian Basin (varied royalty charges) – Income from the Permian Basin elevated in comparison with This fall 2021. The rise in income within the present interval displays greater realized costs and better manufacturing from new wells.
• Weyburn (NRI, ORR, WI) – Income from the Weyburn Unit was greater in comparison with This fall 2021, reflecting the rise in commodity costs, which greater than offset greater working and capital expenditures incurred by means of our NRI and dealing curiosity.

Shareholder Info

The entire audited Consolidated Monetary Statements and Administration’s Dialogue and Evaluation may be discovered on our web site at www.franco-nevada.com , on SEDAR at www.sedar.com and on EDGAR at www.sec.gov .

We’ll host a convention name to assessment our 2022 outcomes. buyers are invited to take part as follows:

Company Abstract

Franco-Nevada Company is the main gold-focused royalty and streaming firm with the most important and most diversified portfolio of cash-flow producing belongings. Its enterprise mannequin offers buyers with gold worth and exploration optionality whereas limiting publicity to value inflation. Franco- Nevada is debt-free and makes use of its free money stream to broaden its portfolio and pay dividends. It trades beneath the image FNV on each the Toronto and New York inventory exchanges. Franco- Nevada is the gold funding that works.

Ahead- Trying Statements

This press launch comprises “forward-looking data” and “forward-looking statements” throughout the that means of relevant Canadian securities legal guidelines and america Personal Securities Litigation Reform Act of 1995, respectively, which can embrace, however should not restricted to, statements with respect to future occasions or future efficiency, administration’s expectations relating to Franco-Nevada’s progress, outcomes of operations, estimated future revenues, efficiency steering, carrying worth of belongings, future dividends and necessities for extra capital, mineral useful resource and mineral reserve estimates, manufacturing estimates, manufacturing prices and income, future demand for and costs of commodities, anticipated mining sequences, enterprise prospects and alternatives, the efficiency and plans of third occasion operators, audits being carried out by the CRA, the anticipated publicity for present and future assessments and obtainable treatments, the completion of the general public session course of and acquiring all required Panamanian approvals for the proposed concession contract with the Authorities of Panama for the Cobre Panama mine and the phrases of the proposed concession contract. As well as, statements regarding sources and reserves, gold equal ounces (“GEOs”) and mine life are forward-looking statements, as they contain implied evaluation, based mostly on sure estimates and assumptions, and no assurance may be on condition that the estimates and assumptions are correct and that such sources and reserves, GEOs or mine life can be realized. Such forward-looking statements mirror administration’s present beliefs and are based mostly on data at present obtainable to administration. Usually, however not at all times, forward-looking statements may be recognized by way of phrases corresponding to “plans”, “expects”, “is predicted”, “budgets”, “potential for”, “scheduled”, “estimates”, “forecasts”, “predicts”, “initiatives”, “intends”, “targets”, “goals”, “anticipates” or “believes” or variations (together with damaging variations) of such phrases and phrases or could also be recognized by statements to the impact that sure actions “could”, “may”, “ought to”, “would”, “may” or “will” be taken, happen or be achieved. Ahead-looking statements contain identified and unknown dangers, uncertainties and different elements, which can trigger the precise outcomes, efficiency or achievements of Franco-Nevada to be materially totally different from any future outcomes, efficiency or achievements expressed or implied by the forward-looking statements. Quite a lot of elements may trigger precise occasions or outcomes to vary materially from any forward-looking assertion, together with, with out limitation: fluctuations within the costs of the first commodities that drive royalty and stream income (gold, platinum group metals, copper, nickel, uranium, silver, iron ore and oil and fuel); fluctuations within the worth of the Canadian and Australian greenback, Mexican peso, and some other forex by which income is generated, relative to the U.S. greenback; modifications in nationwide and native authorities laws, together with allowing and licensing regimes and taxation insurance policies and the enforcement thereof; the adoption of a world minimal tax on companies; regulatory, political or financial developments in any of the international locations the place properties by which Franco-Nevada holds a royalty, stream or different curiosity are situated or by means of which they’re held; dangers associated to the operators of the properties by which Franco-Nevada holds a royalty, stream or different curiosity, together with modifications within the possession and management of such operators; relinquishment or sale of mineral properties; affect of macroeconomic developments; enterprise alternatives that change into obtainable to, or are pursued by Franco-Nevada; lowered entry to debt and fairness capital; litigation; title, allow or license disputes associated to pursuits on any of the properties by which Franco-Nevada holds a royalty, stream or different curiosity; whether or not or not the Firm is set to have “passive overseas funding firm” (“PFIC”) standing as outlined in Part 1297 of america Inside Income Code of 1986, as amended; potential modifications in Canadian tax remedy of offshore streams; extreme value escalation in addition to growth, allowing, infrastructure, working or technical difficulties on any of the properties by which Franco-Nevada holds a royalty, stream or different curiosity; entry to adequate pipeline capability; precise mineral content material could differ from the sources and reserves contained in technical studies; charge and timing of manufacturing variations from useful resource estimates, different technical studies and mine plans; dangers and hazards related to the enterprise of growth and mining on any of the properties by which Franco-Nevada holds a royalty, stream or different curiosity, together with, however not restricted to uncommon or sudden geological and metallurgical situations, slope failures or cave-ins, sinkholes, flooding and different pure disasters, terrorism, civil unrest or an outbreak of contagious illness; the affect of the COVID-19 (coronavirus) pandemic; and the mixing of acquired belongings. The forward-looking statements contained on this press launch are based mostly upon assumptions administration believes to be affordable, together with, with out limitation: the continued operation of the properties by which Franco-Nevada holds a royalty, stream or different curiosity by the homeowners or operators of such properties in a fashion in keeping with previous observe; the accuracy of public statements and disclosures made by the homeowners or operators of such underlying properties; no materials opposed change available in the market worth of the commodities that underlie the asset portfolio; the Firm’s ongoing earnings and belongings regarding willpower of its PFIC standing; no materials modifications to present tax remedy; the anticipated software of tax legal guidelines and laws by taxation authorities; the anticipated evaluation and end result of any audit by any taxation authority; no opposed growth in respect of any vital property by which Franco-Nevada holds a royalty, stream or different curiosity; the accuracy of publicly disclosed expectations for the event of underlying properties that aren’t but in manufacturing; integration of acquired belongings; and the absence of some other elements that might trigger actions, occasions or outcomes to vary from these anticipated, estimated or meant. Nevertheless, there may be no assurance that forward-looking statements will show to be correct, as precise outcomes and future occasions may differ materially from these anticipated in such statements. Traders are cautioned that forward-looking statements should not ensures of future efficiency. As well as, there may be no assurance as to the end result of the continued audit by the CRA or the Firm’s publicity because of this thereof. Franco- Nevada can not guarantee buyers that precise outcomes can be in keeping with these forward-looking statements. Accordingly, buyers shouldn’t place undue reliance on forward-looking statements as a result of inherent uncertainty therein.

For extra data with respect to dangers, uncertainties and assumptions, please consult with Franco-Nevada’s most up-to-date Annual Info Kind filed with the Canadian securities regulatory authorities on www.sedar.com and Franco-Nevada’s most up-to-date Annual Report filed on Kind 40-F filed with the SEC on www.sec.gov . The forward-looking statements herein are made as of the date of this press launch solely and Franco-Nevada doesn’t assume any obligation to replace or revise them to mirror new data, estimates or opinions, future occasions or outcomes or in any other case, besides as required by relevant legislation.

ENDNOTES:

1. GEOs: Beginning in This fall 2021, income from Franco-Nevada’s Power belongings is included within the calculation of GEOs. GEOs for comparative intervals have been recalculated to evolve with the present presentation. GEOs embrace Franco-Nevada’s attributable share of manufacturing from our Mining and Power belongings after relevant restoration and payability elements. GEOs are estimated on a gross foundation for NSRs and, within the case of stream ounces, earlier than the fee of the per ounce contractual worth paid by the Firm. For NPI royalties, GEOs are calculated taking into consideration the NPI economics. Silver, platinum, palladium, iron ore, oil, fuel and different commodities are transformed to GEOs by dividing related income, which incorporates settlement changes, by the related gold worth. The value used within the computation of GEOs earned from a specific asset varies relying on the royalty or stream settlement, which can make reference to the market worth realized by the operator, or the typical worth for the month, quarter, or yr by which the commodity was produced or offered. For This fall 2022, the typical commodity costs had been as follows: $1,729 /oz gold (This fall 2021 – $1,795 ), $21.20 /oz silver (This fall 2021 – $23.32 ), $971 /oz platinum (This fall 2021 – $998 ) and $1,940 /oz palladium (This fall 2021 – $1,935 ), $98 /t Fe 62% CFR China (This fall 2021 – $108 ), $82.65 /bbl WTI oil (This fall 2021 – $77.19 ) and $6.09 /mcf Henry Hub pure fuel (This fall 2021 – $4.85 ). For 2022 costs, the typical commodity costs had been as follows: $1,801 /oz gold (2021 – $1,800 ), $21.75 /oz silver (2021 – $25.17 ), $961 /oz platinum (2021 – $1,091 ) and $2,107 /oz palladium (2021 – $2,397 ), $122 /t Fe 62% CFR China (2021 – $160 ), $94.23 /bbl WTI oil (2021 – $67.91 ) and $6.51 /mcf Henry Hub pure fuel (2021 – $3.72 ).
2. NON-GAAP FINANCIAL MEASURES: Adjusted Web Revenue and Adjusted Web Revenue per share, Adjusted EBITDA and Adjusted EBITDA per share, and Adjusted EBITDA Margin are non-GAAP monetary measures with no standardized that means beneath Worldwide Monetary Reporting Requirements (“IFRS”) and may not be corresponding to related monetary measures disclosed by different issuers. For a quantitative reconciliation of every non-GAAP monetary measure to probably the most straight comparable IFRS monetary measure, consult with the next tables. Additional data relating to those Non-GAAP monetary measures is integrated by reference from the “Non-GAAP Monetary Measures” part of Franco-Nevada’s MD&A for the yr ended December 31, 2022 dated March 15, 2023 filed with the Canadian securities regulatory authorities on SEDAR obtainable at www.sedar.com and with the U.S. Securities and Trade Fee obtainable on EDGAR at www.sec.gov .

• Adjusted Web Revenue and Adjusted Web Revenue per share are non-GAAP monetary measures, which exclude the next from web earnings and earnings per share (“EPS”): impairment prices and reversal associated to royalty, stream and dealing pursuits and investments; features/losses on the sale of royalty, stream and dealing pursuits and investments; overseas trade features/losses and different earnings/bills; uncommon non-recurring objects; and the affect of earnings taxes on this stuff.
• Adjusted EBITDA and Adjusted EBITDA per share are non-GAAP monetary measures, which exclude the next from web earnings and EPS: earnings tax expense/restoration; finance bills and finance earnings; depletion and depreciation; non-cash prices of gross sales; impairment prices and reversals associated to royalty, stream and dealing pursuits and investments; features/losses on the sale of royalty, stream and dealing pursuits and investments; overseas trade features/losses and different earnings/bills; and weird non-recurring objects.
• Adjusted EBITA Margin is a non-GAAP monetary measure which is outlined by the Firm as Adjusted EBITDA divided by income.

Reconciliation of Non-GAAP Monetary Measures:

FRANCO- NEVADA CORPORATION
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(in thousands and thousands of U.S. {dollars})

The consolidated monetary statements and accompanying notes may be present in our 2022 Annual Report obtainable on our web site

FRANCO- NEVADA CORPORATION
CONSOLIDATED STATEMENTS OF INCOME (LOSS) AND COMPREHENSIVE INCOME (LOSS)
(in thousands and thousands of U.S. {dollars} and shares, besides per share quantities)

The consolidated monetary statements and accompanying notes may be present in our 2022 Annual Report obtainable on our web site

FRANCO- NEVADA CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands and thousands of U.S. {dollars})

The consolidated monetary statements and accompanying notes may be present in our 2022 Annual Report obtainable on our web site

View unique content material: https://www.prnewswire.com/news-releases/franco-nevada-reports-2022-results-301773492.html

SOURCE Franco-Nevada Company

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