Altius Minerals Corporation · TSX:ALS
Altius Minerals — Investor Presentation (September 2025)
29 slides from Altius Minerals's investor presentation, Sep 5, 2025
Slide 1: Corporate Presentation
TSX: ALS | OTCQX: ATUSF Diversified , Long-Life, Natural Resource Royalties Corporate Presentation September 5, 2025 Potash | Clean Steel | Renewable Energy | Copper | Gold | Lithium | Nickel | Cobalt
Slide 2: Forward Looking Statements
Forward Looking Statements This document includes certain statements that constitute “forward- In particular, the forward looking statements and information looking statements” and “forward-looking information” within the contained herein relating to past, present and future commodity prices, meanin
Slide 3: Balance, Diversity & Longevity
Balance, Diversity & Longevity Large Resources and Geopolitical Advantages Amplify New Build and Expansion Optionality Gold South 11% Potash Production America 26% 10 Mines & 13 Renewable 15% Altius Analyst Consensus Renewables Construction Canada 19% Consensus NAV by 3 Mines & 5 Renewable 50% NAV1
Slide 4: Project Generation Business
Project Generation Business Altius’s True Value Creation Differentiator TSX: ALS | OTCQX: ATUSF |4
Slide 5: Project Generation Business: Royalty Creation while Profiting from Exploration
Project Generation Business Royalty Creation while Profiting from Exploration In-house technical team invests in exploration to create junior equity positions and royalties (Exploration project sales or select third party investments) Profitably manage resulting Create long-term royalty portfolio of
Slide 6: Silicon Royalty Investment
Silicon Royalty Investment Value Creation Crystallized – Continuing Growth Exposure The Silicon Gold project (and Altius’s current 1.5% royalty) was originated in 2014 as part of a generative exploration focused grubstake agreement between Renaissance Exploration and Callinan Royalties Altius acquir
Slide 7: Silicon Royalty Map following Arbitration
Silicon Royalty Map following Arbitration Royalty Area Base Area of Interest (box on map) = 26.8 km2 Royalty lands as agreed by arbitration panel add an additional ~168.8 km2 Conclusion of arbitration meets the conditions for the US$25M contingency payment that formed part of the US$275M purchase co
Slide 8: Potash
Potash TSX: ALS | OTCQX: ATUSF |8
Slide 9: Potash: Market Share Growth Within a Steadily Compounding Global Market
Potash Market Share Growth Within a Steadily Compounding Global Market Global Potash Demand Growth Our operator’s Saskatchewan, Canada potash mines feature unique competitive advantages (resource scale and quality, logistic 129 Mt 140 Actual Global Demand networks, geopolitical stability, cost of ca
Slide 10: Potash: Price Incentivization Required to Meet Steady Demand Growth
Potash Price Incentivization Required to Meet Steady Demand Growth Requirements $1,200 Jansen Phase 1 and 2 Greenfields Incentive Price: $1,097/tonne $1,000 $800 Jansen Phase 2 Incentive Price: $615/tonne $600 Nutrien/Mosaic Sask. Brownfields $400 Incentive Price: $390/tonne $200 $0 2005 2006 2007 2
Slide 11: Base and Battery Metals
Base and Battery Metals TSX: ALS | OTCQX: ATUSF |11
Slide 12: Global Copper Mine Supply
Global Copper Mine Supply Consistent Long-Term Growth Requirement – Beware of Demand Doomsayers! Global demand for copper has increased by ~2/3 in the past 20 years, While long-term copper demand growth has been a relative constant, the copper market experiences very volatile price cycles largely mi
Slide 13: Base and Battery Metals: Significant Production Growth Ahead
Chapada District Contained Copper Resource & Base and Battery Metals Reserve1 (Mlbs) Significant Production Growth Ahead Chapada Reserve Chapada Measured & Indicated Sauva Measured & Indicated Depletion +2.5 Blbs Resources continue to be delineated at the new Saúva (copper) discovery within the Chap
Slide 14: High Purity (DR Grade) Iron Ore
High Purity (DR Grade) Iron Ore Labrador Trough TSX: ALS | OTCQX: ATUSF |14
Slide 15: High Purity Iron Ore: BF to DR Grade Market Share Reversal
High Purity Iron Ore Positioned to Benefit From BF to DR (High-Purity) Grade Market Share Reversal Global Crude Steel Production Monthly Global Crude Steel and DRI Production (MM tonnes) (K tonnes) 2,500 ~3.4% CAGR 2,000 1,500 1,000 500 2000 2005 2010 2015 2020 2025 While steel production has been r
Slide 16: High-Purity Iron Ore: Portfolio Well Positioned
High-Purity Iron Ore Portfolio Well Positioned Altius well positioned to benefit from increasing demand for high- purity iron through its Labrador Trough based iron ore royalty interests Labrador Trough one of few regions in the world with raw ore quality amenable to producing DR quality iron ore co
Slide 17: Kami Project
Kami Project Being Advanced by a Powerful Partnership - 3% GSR Altius originated Kami through its Project Generation business and retains a 3% Gross Sales Royalty (GSR) over the project 30% The Kami royalty is expected to be Altius’s largest mine royalty by revenue once in production 51% 19% Nippon
Slide 18: Renewable Energy
Renewable Energy TSX: ALS | OTCQX: ATUSF |18
Slide 19: Key US Electricity Trends
Key US Electricity Trends 16% 16% 1% Total power generation has increased by 10% over the past 25 years but is on track to grow by 15% over the next 5 9% 43% 2000 US 2023 US 52% Electricity Mix 19% Electricity Mix Renewables based generation has grown market share from 9% to 21% (+129%) so far this
Slide 20: Renewable Energy Royalties
Renewable Energy Royalties GBR Royalty Revenue Projection ($C) $65M-$70M estimated longer term GBR Revenue Growth ($C) run rate recurring revenue at GBR $40M based on existing investments $30M $20M $27 - 32M Royalty revenue continues to ramp up as projects subject to royalty within the existing deve
Slide 21: Capital Allocation Opportunities
Capital Allocation Opportunities Enhanced Flexibility $540M Cash, after taxes and fees increased to more than C$360 million Accordion2 (assumes up front and further payment proceeds from this transaction and also from the recent acquisition of Orogen Royalties by Triple Flag Precious Metals) Availab
Slide 22: Capital Structure
Capital Structure Strong Balance Sheet, Growing Returns of Capital Capitalization Table 761.5k shares acquired in 2024 at an average price of $21.27 per share ($16.2 million invested) Issued Common Shares1 46,315,304 Annual dividend increased to $0.36 per share Basic Market Capitalization1 $1.38 bil
Slide 23: Silicon Royalty Transaction Summary
Silicon Royalty Transaction Summary Partial Royalty Sale to Franco-Nevada Announced July 23, 2025 Details Form 1.0% NSR Asset Sale from Altius Royalty Corporation (ARC) US$275M (~C$375M) cash: US$250M upon closing and US$25M final payment for conclusion of Purchase Consideration arbitration which su
Slide 24: Appendix
Appendix Potash | Clean Steel | Renewable Energy | Copper | Gold | Lithium | Nickel | Cobalt
Slide 25: Growth Potential Beyond 16 Moz.
Growth Potential Beyond 16 Moz. 0.5% Retained Silicon NSR The Expanded Silicon Project (ESP) has the potential to increase substantially over the next few years from the current 16 Moz gold in Mineral Resources (summarized below) – including and most obviously within the current concept pit at Merli
Slide 26: Current Resources + Expansion Potential
Expansion/Exploration Upside Current Resources + Expansion Potential Classified Resources Mineralization 0.5% Retained Silicon NSR Footprint Concept-stage In addition to the potential for increased resources within the current pit outlines, Altius believes that excellent potential exists for Pit out
Slide 27: AGA Published Resource vs. In-Pit Mineralized Footprint
AGA Published Resource vs. “In-Pit” Mineralized Footprint 0.5% Retained Silicon NSR Classified Resources Mineralization Footprint Concept-stage Pit Altius notes that the mineralization footprint reported by AGA for the Merlin deposit appears significantly outline more expansive than the footprint of
Slide 28: Orogen Royalties Investment
Orogen Royalties Investment Silicon Royalty Sale – Spin Out of Orogen “2” Renaissance Gold created a separate Silicon 1% NSR when it optioned the project to AngloGold Ashanti and later merged with Evrim Resources to form Orogen Royalties Altius was a shareholder of both Evrim and Renaissance prior t
Slide 29: Further Exploration Royalty Optionality
Further Exploration Royalty Optionality Property (Jurisdiction) Primary Commodity Explorer/Developer Royalty Basis Status Telkwa (British Columbia) Met Coal Bathurst Resources Limited 1.5-3% price based sliding scale GSR DFS Complete; permitting underway Stellar (Alaska) Copper PolarX Ltd. 2% NSR on
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