Franco-Nevada stream financing from Antapaccay Mine

On February 26, 2016, Franco-Nevada Corporation ("Franco-Nevada") announced the closing of the acquisition by its wholly-owned subsidiary, Franco-Nevada (Barbados) Corporation, of a precious metals stream with Narila Investments Ltd. (Narila), a wholly-owned subsidiary of Glencore plc ("Glencore"), for the delivery of gold and silver calculated by reference to production at the Antapaccay mine, located in Peru. Franco-Nevada made a one-time advanced payment of US$500 million to Narila for the stream.

Franco-Nevada funded the acquisition of the stream primarily by using the net proceeds of a US$920 million public bought deal offering of common shares. The balance of the net proceeds will be added to the working capital of the company and used for further investments, other general corporate purposes, and/or used to pay down its credit facility.

Further information can be found on Marketwired's website.

Antapaccay is a major, low-cost, brownfield expansion of the Tintaya copper mine in southern Peru, located approximately 10 kilometers from the Tintaya open pit mine.

Franco-Nevada is the leading gold-focused royalty and stream company with the largest and most diversified portfolio of cash-flow producing assets.

Glencore is one of the world's largest global diversified natural resource companies and a major producer and marketer of more than 90 commodities.