An anonymous director reports

COBRE PANAMA ENVIRONMENTAL STEWARDSHIP UPDATE

Franco-Nevada Corp.'s partner, First Quantum Minerals Ltd., has provided an update in respect of its position regarding the next steps required for the responsible environmental stewardship of the Cobre Panama mine site and First Quantum's intention to pursue all appropriate legal avenues to protect its investment and rights.

For more detailed information, please refer to First Quantum's news release dated Dec. 22, 2023.

Franco-Nevada will also pursue all appropriate legal avenues to enforce its rights and protect its investment in Panama.

We seek Safe Harbor.