property ExFolderView.DropFilesPathName (Index as Long) as String
Retrieves the dropped files given an index,

TypeDescription
Index as Long A Long expression that indicates the index of the folder being requested
String A String expression that indicates the path being requested

Use the DropFilesPathName property to retrieve the path of the dropping folder. Use the DropFilesCount property to count the files being dropped. The control fires the DropFiles event to notify your application that some files were dropped. The AllowDropFiles property determines whether or not the control will accept files dragged-and-dropped from another application (such as Explorer).

Here is a VB sample that lists the files dragged in the Immediate debugger window.

Private Sub ExFolderView1_DropFiles(ByVal ExShellFolder As EXFOLDERVIEWLibCtl.IExShellFolder, ByVal Effect As Long)
   Dim I As Long
   For I = 0 To FolderView1.DropFilesCount - 1
      Debug.Print FolderView1.DropFilesPathName(I)
   Next I
   If (Effect & 1) = 1 Then
      Debug.Print "Copied to " & Folder.PathName
   Else
      Debug.Print "Moved to " & Folder.PathName
   End If
End Sub