LunR Royalties (LUNR) Investor Presentation summary

Strategic vision and business model

• Spun out from NGEx Minerals in October 2025 to focus on mining royalty and streaming opportunities, leveraging the Lundin Group's long-term, scale-focused approach.

• Aims to capitalize on consolidation in the royalty sector, targeting the intermediate market cap space ($1B–$5B) with plans to grow into a senior royalty company.

Asset portfolio and exposure

• Holds a 1.38% NSR on Los Helados, one of the world's largest undeveloped copper-gold resources, and a 1.00% NSR on Lunahuasi, a high-grade copper-gold-silver discovery.

• Both assets are located in the Vicuña District, a rapidly developing copper-gold-silver production center with significant exploration upside and strategic value.

• Lunahuasi drill results include intervals up to 25.19% CuEq and ultra high-grade gold veins, while Los Helados boasts over 2,000 Mt indicated resources at 0.40% Cu.

Financials and capital structure

• As of December 19, 2025: 70.1M basic shares outstanding, C$859M market cap, C$2.1M cash, and no debt.

• Major shareholders include NGEx Minerals, Lundin Family Trusts, insiders, and others.