Franco-Nevada Announces A$200 Million Follow-on Financing Package with Minerals 260 for the Bullabulling Gold Project

(in U.S. dollars unless otherwise noted) TORONTO , Sept. 13, 2026 /PRNewswire/ -- Franco-Nevada Corporation ("Franco-Nevada" or the "Company") (TSX:FNV) (NYSE: FNV ) is pleased to announce that, through a wholly-owned Australian subsidiary, it has entered into an agreement to acquire a A$170 million (approximately $122 million) gross royalty (the "Royalty") from Minerals 260 Limited ("Minerals 260") to further support its development of the Bullabulling Gold Project ("Bullabulling" or the "Project").

Additionally, Franco-Nevada has agreed to subscribe for A$30 million (approximately $22 million) of Minerals 260's ordinary shares (the "Shares") as a lead order in a future equity raise.

The Royalty acquisition will be in addition to Franco-Nevada's Australian subsidiary's existing 2.45% gross royalty interest over the Project, increasing its interest to a 3.90% gross royalty over Bullabulling, plus an expanded area of interest and enhanced Royalty profile.

The investment in Minerals 260 Shares will build upon Franco-Nevada's existing ownership of Minerals 260 Shares.

This financing package increases Franco-Nevada's support for Minerals 260 to develop Bullabulling to an aggregate A$420 million (approximately $300 million) and follows the A$220 million (approximately $155 million) financing package that Franco-Nevada provided Minerals 260 in February 2026 which has supported considerable resource growth and development progress at Bullabulling and significant appreciation of Minerals 260's Share price since this time.

Paul Brink, President & CEO of Franco-Nevada said: "Both the team at Minerals 260 and the Bullabulling orebody continue to surpass our expectations. Minerals 260 is ahead of schedule on project development and financing and has rapidly grown its resource endowment. We are delighted to take this next step in building our partnership with the company and firmly believe that our financial backing can play a lynchpin role in generating value for Minerals 260 shareholders."

Luke McFadyen, Managing Director of Minerals 260, commented: "We are thrilled with the partnership we have established with Franco-Nevada and Franco-Nevada's decision to invest an additional A$200 million supports what both parties believe Bullabulling will become - a near-term, large scale, long-life, expandable gold asset in one of the world's best mining jurisdictions. This is a partnership built on focus and determination to bring Bullabulling into production and supports mutually beneficial outcomes for each company. This additional funding materially strengthens our balance sheet and our path to final investment decision in early 2027."

Transaction Highlights Near-Term Production Pathway : Bullabulling is one of Australia's largest near-term gold projects, located approximately 65 km from Kalgoorlie, Western Australia in the Eastern Goldfields, with a recently upgraded Resource in July 2026 of 4.4 Moz Indicated Resources (140 Mt at 0.98 g/t) and 1.7 Moz Inferred Resources (51 Mt at 1.0 g/t).

The Project is located on existing mining leases and has a straightforward pathway to meaningful near-term production from conventional open-pit and CIL processing.

A pre-feasibility study was completed by Minerals 260 in July 2026, with a definitive feasibility study and final investment decision expected in early 2027, and first gold production potentially as soon as H2 2028.

Meaningful Production Profile: Minerals 260's intended strategy is to incrementally develop and expand Bullabulling to accelerate and optimize production. The pre-feasibility study was based on the maiden reserve (reflecting resources as of December 2025) and Stage 1 throughput of 5 Mtpa, with additional capacity and design provisions incorporated to support future throughput expansion to 7.5 Mtpa. The pre-feasibility study confirmed Franco-Nevada's assessment that Bullabulling will be a scaled, long life mine, with planned annual average gold production of approximately 150 koz per an...