LunR Royalties (LUNR) investor relations material

Business overview and strategy

• Focus on building a royalty and streaming business, with initial listings and portfolio growth since December last year.

• Closed key transactions, including Fruta del Norte silver stream, providing immediate revenue and cash flow.

• Portfolio includes high-grade assets like Lunahuasi and Los Helados, expected to double revenue as they come online.

• Targeting deals from $50 million to $2 billion, supported by a $1.5 billion shelf prospectus and undrawn credit facility.

• Emphasis on quick decision-making and leveraging a strong board and shareholder base for growth.

Market positioning and deal pipeline

• Positioned as a mid-tier royalty and streaming company, aiming to climb higher among peers.

• Actively reviewing over 50 deals annually, with a disciplined approach to growth and deal selection.

• Focus remains on precious metals, especially gold and silver, targeting 80%+ revenue from these commodities.

• Open to M&A if it adds value, but currently prioritizing organic growth and disciplined expansion.

• Monitoring competitive dynamics, including new entrants like Tether, and maintaining flexibility in asset selection.

Geographic and commodity focus

• Primary focus on South America (Chile, Argentina, Ecuador, Brazil), but open to North America and Europe.

• Will consider jurisdictions with strong agreements and historical presence.

• Portfolio includes copper and gold, but precious metals remain the main revenue driver.

• Willing to expand into other commodities as the business scales.