Franco-Nevada Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	670.9	1,451	1,422	1,197	539.3
Cash & Short-Term Investments	670.9	1,451	1,422	1,197	539.3
Cash Growth	-53.77%	2.07%	18.84%	121.86%	0.95%
Accounts Receivable	241.9	151.8	111	135.7	119.8
Other Receivables	15.2	8.1	-	-	-
Receivables	257.1	165.8	111	135.7	159.5
Inventory	0.6	7.3	0.5	0.1	0.5
Prepaid Expenses	2.7	2.5	30	22.1	18.8
Other Current Assets	90.1	89.9	51.9	28.7	33.3
Total Current Assets	1,021	1,717	1,615	1,383	751.4
Property, Plant & Equipment	6,054	4,109	4,034	4,934	5,156
Long-Term Investments	1,141	325.5	254.5	227.2	235.9
Long-Term Deferred Tax Assets	23.2	30.8	37	39.9	49.4
Long-Term Deferred Charges	1.1	1.4	1.1	1.5	1.2
Other Long-Term Assets	-	42.5	27.7	40.9	15.6
Total Assets	8,241	6,330	5,994	6,627	6,210
Accounts Payable	8.4	5.1	5.5	7	8.5
Accrued Expenses	36.5	23.6	25.4	36.1	25.1
Current Income Taxes Payable	78.1	38.8	8.3	7.1	9.6
Total Current Liabilities	123	67.5	39.2	50.2	43.2
Long-Term Deferred Tax Liabilities	440.7	238	180.1	153	135.4
Other Long-Term Liabilities	42.4	28.3	5.7	6	6.1
Total Liabilities	606.1	333.8	225	209.2	184.7
Common Stock	5,803	5,769	5,728	5,695	5,629
Additional Paid-In Capital	21.6	23	20.6	15.6	16.1
Retained Earnings	1,380	486.5	212.3	940.4	484.9
Comprehensive Income & Other	430.5	-282	-192	-233.7	-104.3
Shareholders' Equity	7,635	5,997	5,769	6,418	6,025
Total Liabilities & Equity	8,241	6,330	5,994	6,627	6,210
Net Cash (Debt)	670.9	1,451	1,422	1,197	539.3
Net Cash Growth	-53.77%	2.07%	18.84%	121.86%	0.95%
Net Cash Per Share	3.48	7.54	7.39	6.24	2.82
Filing Date Shares Outstanding	192.8	192.55	192.18	191.89	191.33
Total Common Shares Outstanding	192.8	192.55	192.18	191.89	191.33
Working Capital	898.4	1,649	1,576	1,333	708.2
Book Value Per Share	39.60	31.14	30.02	33.44	31.49
Tangible Book Value	7,635	5,997	5,769	6,418	6,025
Tangible Book Value Per Share	39.60	31.14	30.02	33.44	31.49
Machinery	7.1	6	6	5.8	5.6

Source: S&P Global Market Intelligence. Standard template. Financial Sources.