Elemental Altus Royalties (ELE) investor relations material

Diversified and growing royalty portfolio

• Holds a globally diversified portfolio with 10 producing assets and over 70 exploration and development stage royalties, averaging an 11-year asset life and a market cap of $400 million.

• Major producing assets include Karlawinda (gold, Australia) and Caserones (copper, Chile), which together contribute about 40% of asset NAV.

• Portfolio is well-positioned to leverage increasing gold prices, with 75% of net asset value from OECD countries and 84% of value from gold.

Financial performance and growth outlook

• Adjusted revenue is expected to reach $30.1–$34.3 million in 2025, a 50% increase from the previous year, with up to $15 million in additional portfolio payments.

• Revenue has grown each year since inception, with a strong track record of peer-leading growth.

• Over $80 million in non-dilutive capital is available for deployment in 2025, including $50 million from a credit facility.

Key assets and organic growth drivers

• Karlawinda mine is expanding production by 25% to 150koz per year, with a 10-year mine life and significant reserve growth.

• Caserones mine has a 15-year life, ongoing exploration, and a large drilling program planned for 2025.

• Sadiola royalty began generating revenue in Q1 2025, with milestone payments and a multi-phase expansion targeting a 20+ year mine life.

• Laverton project in Australia offers 1.8Moz attributable gold resources and is primed for production under a new operator.