An anonymous director reports

COBRE PANAMA ADDITIONAL OPERATIONS UPDATE

Franco-Nevada Corp. partner First Quantum Minerals Ltd. has issued an update reporting that due to the continued illegal blockades at the Punta Rincon port and roads to the site, the Cobre Panama mine has suspended commercial production and is applying a program of preservation and safe maintenance of the plant and facilities.

For more detailed information, please refer to First Quantum's news release dated Nov. 28, 2023.

Franco-Nevada further notes that its revised 2023 GEO (gold equivalent ounces) guidance issued on Nov. 20, 2023, remains unchanged as it assumed no further contributions from Cobre Panama from such date.

We seek Safe Harbor.