Vox Royalty (VOXR) investor relations material

Purpose and strategy

• Focused on generating the best risk-adjusted returns for shareholders seeking metals exposure, primarily gold.

• Royalties are positioned as the optimal way to achieve superior risk-adjusted returns in metals markets.

• Differentiated approach emphasizes disciplined capital allocation and per-share returns over scale.

• Management and board own 20% of the business, ensuring strong alignment with shareholders.

• Long-term thinking and margin of safety are core values guiding all decisions.

Performance and portfolio

• Achieved the highest return on invested capital in the mining royalty industry over the last five years.

• Compound annual growth rate of cash flow per share exceeds 76%, with a 10x return since 2021.

• Portfolio includes nearly 80 royalties and streams, with 12 producing assets expected to grow to over 30.

• $130 million invested in royalties and streams, with the portfolio expected to be worth around $1 billion.

• 100% revenue growth in the last 12 months, $31 million net cash, and no debt.

Competitive advantages and market positioning

• Trades at less than half the valuation of peers despite superior returns and portfolio quality.

• Second largest holder of hard rock mining royalties in Australia, a top mining jurisdiction.

• Diversified portfolio focused on tier 1 jurisdictions, minimizing jurisdictional risk.

• Technical team and proprietary database enable identification and acquisition of undervalued royalties.

• Strong relationships and sourcing network facilitate unique deal flow from third-party royalty holders.