Altius Minerals (ALS) Corporate presentation summary

Strategic actions and capital allocation

• Sold two-thirds of the 1.5% Arthur NSR royalty for C$375 million, retaining one-third; arbitration confirmed an area of interest of ~200 km².

• Announced the cash-and-share acquisition of Lithium Royalty Corp. at an implied valuation of $520 million; increased the Great Bay Royalties interest to 50% for US$167 million.

• Invested C$40.5 million to raise the Labrador Iron Ore Royalty position to ~8%; completed a 3 million-share offering for gross proceeds of $181.5 million.

• Annual dividend increased to C$0.44 per share, 400% above the level when dividends began; dividend raised 10% to C$0.11 quarterly from September 2026.

Portfolio growth profile

• Strong incremental royalty revenue growth is expected through the end of the decade from scheduled ramps, expansions and new builds, using spot prices as of July 6, 2026.

• A further potential growth leg in the early 2030s is tied to development-stage Kami iron ore, Arthur gold and Adina lithium projects; outcomes depend on third-party development and sanctioning.

• Analyst consensus NAV mix as of August 12, 2026: lithium 32%, electricity 22%, potash 14%, iron ore 13%, base metals 11%, other 10% and gold 7%.

• Royalty reserves have average remaining mine lives above 35 years; electricity plants have 20–30-year equipment lives, with resource potential extending beyond equipment life.

Electricity royalties

• Great Bay Royalties has 9.4 GW under royalty: 3.5 GW operating, 2.3 GW under construction and 3.6 GW in development; the effective interest is 50%.

• US power generation is on track to grow 15% over five years, while industrial end-user PPA prices increased ~50% over the past three years.

• Additional late-stage royalty acquisitions are expected to support revenue growth; developer deal structures may generate more than $100 million in ancillary revenue during 2026–2028, outside the illustrative revenue profile.