Franco-Nevada is the leading gold-focused royalty and streaming company globally with the largest and most diversified portfolio of royalties and streams by commodity, geography, revenue type and stage of project.

Franco-Nevada’s shares are listed on the Toronto and New York stock exchanges under the symbol FNV. An investment in Franco-Nevada’s shares is expected to provide investors with yield and exposure to commodity price and exploration optionality while limiting exposure to cost inflation and other operating risks.

Our aspiration is to make Franco-Nevada the “go to” gold stock for the generalist investor. We believe that our emphasis on minimizing risk, paying dividends and maintaining a strong balance sheet along with high environmental, social and governance standards is attractive to generalist investors.



The Gold Investment that Works

Franco-Nevada is committed to being the gold investment that works; for our shareholders, our operating partners and our communities.





Our Performance

Since our initial public offering over 14 years ago, our share price has outperformed the gold price and all relevant gold equity benchmarks.

Compounded Average Annual Total Returns since inception1, 2, 3


  1. FNV Inception - December 20, 2007
  2. Compounded annual total returns to March 31, 2022
  3. Source: TD Securities; Bloomberg

Our Track Record

Over the same timeframe, our margins have remained high and our overhead has remained low.


GEOs1

(000's)

Revenue

(US$ Millions)

Market Capitalization2

(US$ Billions)

G&A

(% of Capitalization)

Adjusted Net Income per Share3

(US$ per Share)

Adjusted EBITDA3

(US$ Millions)

  1. Starting in Q4 2021, revenue from Franco-Nevada’s Energy assets are included in the calculation of Gold Equivalent Ounces (“GEOs”). GEOs for comparative periods have been recalculated to conform with the current presentation. GEOs include Franco-Nevada’s attributable share of production from our Mining and Energy assets, after applicable recovery and payability factors. GEOs are estimated on a gross basis for NSR royalties and, in the case of stream ounces, before the payment of the per ounce contractual price paid by the Company. For NPI royalties, GEOs are calculated taking into account the NPI economics. Silver, platinum, palladium, iron ore, oil, gas and other commodities are converted to GEOs by dividing associated revenue, which includes settlement adjustments, by the relevant gold price. The price used in the computation of GEOs earned from a particular asset varies depending on the royalty or stream agreement, which may make reference to the market price realized by the operator, or the average price for the month, quarter, or year in which the commodity was produced or sold.
  2. As at December 31, 2022
  3. Adjusted Net Income and Adjusted Net Income per share are non-GAAP financial measures with no standardized meaning under International Financial Reporting Standards (“IFRS”) and might not be comparable to similar financial measures disclosed by other issuers. Refer to the “Non-GAAP Financial Measures” section starting on page 148 of the 2022 Asset Handbook.


Our Dividend Policy

Our dividend policy is not tied to any financial metric or the gold price. Our objective is a sustainable and progressive dividend regardless of the gold price outlook and we have increased our dividend each of the last 15 years.


  1. Assumes current quarterly dividend of $0.32 per share and current share count are maintained throughout 2022

    Gold Price for 2022 of $1,800 as used in guidance published on March 9, 2022


Environment, Social and Governance

Our commitment to ESG starts with our Board and carries through our organization and all aspects of our business. We are committed to diversity and inclusion and have a diversity goal of 40% diverse representation at the Board and top leadership levels by 2025. We are committed to responsible mining and energy extraction. We recognize our role as a capital allocator. ESG is a critical factor when we make investment decisions. Climate change is a significant risk to society and we recognize the need to reduce carbon intensive activities. As part of our ESG due diligence for our capital allocation decisions, we consider climate-related risks and the carbon footprint of the operation. We have played an active role through the World Gold Council developing the Responsible Gold Mining Principles and proactively engage with operators regarding adopting these or similar standards for responsible mining when negotiating our investments. We are committed to contributing to our communities, both through personal philanthropy and by actively engaging with our operators to make contributions in the communities in which our royalty and stream assets are located.

Additional information related to our ESG initiatives can be found under Environmental & Social Responsibility and a detailed description of Franco-Nevada’s investment process and a discussion of environmental, social and governance issues, including climate change, is contained in our 2022 Environmental, Social and Governance (ESG) Report.



Our Policies

Franco-Nevada has adopted policies relating to our business conduct, including the following: (i) code of business conduct and ethics, (ii) business integrity policy, (iii) whistleblower policy, (iv) policy concerning confidentiality, fair disclosure and trading in securities, (v) human rights policy, (vi) non-discrimination, anti-harassment and equal opportunity policy, (vii) diversity and inclusion policy, (viii) investment principles (environmental, social and governance) policy, (ix)responsible gold mining principles policy, (x) supplier code of conduct, (xi) corporate responsibility policy, (xii) health and safety policy, and (xiii) information security policy. Additional information relating to these and other policies can be found under Policies & Mandates and are also contained in our 2022 Environmental, Social and Governance (ESG) Report and our 2022 Notice and Management Information Circular.



Our Team

Franco-Nevada currently operates a small organization. As of March 17, 2022, Franco-Nevada has 35 full-time employees and 5 part-time contractors. As such, Franco-Nevada is dependent upon the continued availability and commitment of our key management, whose contributions to the immediate and future operations of Franco-Nevada are of significant importance. From time to time, we may also need to identify and retain additional skilled management and specialized technical personnel to efficiently operate our business.