Elemental Royalty (ELE) Corporate presentation summary

Investment highlights

• Forecast FY2026 revenue of US$85 million and gold equivalent ounces (GEOS) guidance of 17–21 koz, with a 2030 outlook exceeding 35 koz.

• Portfolio is globally diversified, gold-focused, and provides direct exposure to commodity prices.

• Capital markets profile enhanced by a US$200 million credit facility, dual Nasdaq/TSX listing, and index inclusions.

• Disciplined capital allocation with a new NCIB, annualized dividend of US$0.12/share, and strong shareholder support (32% held by Tether International).

• Management team has a consistent track record and is supported by experienced leadership.

Portfolio overview and key assets

• 73% of portfolio is cash-generating, with 67% weighted to precious metals and broad geographic diversification.

• Over 250 royalties, including 18 producing and 28 advanced development assets, with exposure to top-tier operators.

• Cornerstone royalties include Timok (Serbia, copper/gold), Caserones (Chile, copper/molybdenum), Karlawinda (Australia, gold), and Laverton (Australia, gold).

• Announced acquisition of Vizsla Royalties, adding a significant silver-gold asset (Panuco, Mexico) with first production targeted for H2 2027.

• Enhanced copper exposure through Chapi (Peru), with expansion plans and visible production growth.

Growth outlook and financial performance

• Annual GEOS sales projected to grow from 14.3 koz in 2025 to over 35 koz by 2030, with revenue potentially reaching US$157.8 million.

• Key growth drivers include new production from Timok Lower Zone, Laverton, Dugbe, Karlawinda expansion, Diablillos, Viscaria, Mactung, and Panuco.

• History of value-creating transactions, with high investment recovery rates and strong returns on cornerstone assets.

• Valuation remains compelling relative to peers, with lower P/NAV and P/2026 revenue multiples.