A World Class Streaming and Royalty Company

Las Cruces

Seville and Alucia, Spain

Royalty rate and type:	1.5% NSR (copper only)¹
Operator:	First Quantum Minerals

Las Cruces is a surface copper mine located in southern Spain, approximately 12 miles northwest of Seville.

Reserves (December 31, 2018): ²

Actual royalty production CY2018:

Footnotes:

Royalty is payable only when LME cash settlement price for Grade A copper is equivalent or greater than $0.80 per pound of copper.
At a copper price of $2.75 per pound.