Star Royalties (STRR) Corporate presentation summary

Strategic focus and business model

• Leverages royalty model in precious metals and decarbonization sectors, focusing on North America for low geopolitical risk and strong project pipeline.

• Provides capital for decarbonization and carbon offset projects, receiving royalties on revenues from sold products or credits.

• Joint venture with Agnico Eagle Mines and Cenovus Energy enhances capital strength and co-investment opportunities.

• Prioritizes stakeholder alignment, operational excellence, and environmental stewardship in project selection.

Portfolio overview and key assets

• Holds 50 royalties and streams across three core jurisdictions, with 63% of NAV producing or near production and 90% of 2026 revenue from precious metals.

• Copperstone gold stream (Arizona) is construction-ready, with production expected in early 2027 and a 4% gold stream over life-of-mine.

• Keysbrook mineral sands royalty (Australia) provides ongoing cash flow, with mine life extended through 2028 and potential into the 2030s.

• Green Star Royalties (46% ownership) focuses on nature-based climate solutions and cleantech, including carbon credit and renewable tech royalties.

Growth, catalysts, and financial outlook

• Anticipates ~47% GEOs CAGR over the next three years, leading junior royalty and streaming peers.

• Transition to free cash flow expected in Q1 2027, driven by Copperstone and Green Star Royalties.

• Multiple near-term catalysts: Copperstone technical report and production decision (Q2 2026), construction updates, Minera Alamos equity re-rate, and new project deployments.

• All inventoried US IFM carbon credits from NativState monetized, with further issuances expected; Green Star Royalties projected to have positive free cash flow in 2026.