Empress Royalty Corp · TSXV:EMPR
Empress Royalty — Investor Presentation (September 2026)
29 slides from Empress Royalty's investor presentation, September 2026
Slide 1: Growth-Focused Gold & Silver Royalty & Streaming Investments
TS XV: EMP R | OTCQX: EMPY F Growth-Focused Gold & Silver Royalty & Streaming Investments Cash Flow Today. Growth Tomorrow. Optionality for the Future CORPORA TE PRESE N TA TI ON · SE PT EM B ER 2026
Slide 2: Forward-Looking Statements
CAUTIONARY NOTE Forward-Looking Statements This Presentation contains or incorporates by reference "forward-looking statements" or "forward-looking information" within the meaning of applicable Canadian securities legislation. Such statements involve known and unknown risks, uncertainties and other
Slide 3: Building an Integrated Royalty & Streaming Platform
EMPRESS SNAPSHOT Building an Integrated Royalty & Streaming Platform Cash-Flowing Growth Across Record Revenue & Positive Portfolio Mining Lifecycle Operating Cash Flow Four producing cornerstone investments Assets advancing across the full mining Achieved record revenue of US$17M and generating roy
Slide 4: The Macro Case for Precious Metals
WEA LTH PRO TEC TION STR ATEGY The Macro Case for Precious Metals Enduring Safe Haven in Inflation Hedge & Central Bank Buying & Global Uncertainty Wealth Preservation Structural Demand Gold and silver have With a long history as an Central banks are reportedly historically thrived inflation hedge,
Slide 5: Superior Returns to Gold Price & Miners ETF
OUTPERFO RMIN G GO LD Power of Royalty & Stream Investments $800 $700 Superior Returns to $600 Gold Price & Miners ETF +597% $500 VanEck Gold Miners ETF Gold Royalty Index* $400 $300 +286% $200 +160% $100 $0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 *Royalty Ind
Slide 6: How Royalty & Streaming Investments Deliver Value
RO YALTIES & STREAM S How Royalty & Streaming Investments Deliver Value Royalty Agreements A royalty agreement is where a Benefits to company provides upfront capital to a Shareholders mining company in exchange for a percentage of future revenue from the 1 Returns unimpeded by significant operation
Slide 7: The Investment Thesis
HO W EMP RESS C REATES VALUE The Investment Thesis Cash Flow Diversification Precious Metals Embedded Exposure Optionality Producing royalty and Exposure across multiple 100% gold and silver Free upside from stream interests generate assets, jurisdictions and revenue, providing direct exploration su
Slide 8: The Evolution of Empress
FROM BUILDING A FO UN DA TION TO SCALING A PLATFORM The Evolution of Empress Record Revenue Growth Positive Operating Cash Flow Producing Global Portfolio P HAS E 01 P HAS E 02 Foundation First Integrated Expansion Producing & near-term producing focus Expanding across the mining lifecycle Build cas
Slide 9: The Integrated Royalty Model
EXP OSUR E ACRO SS THE MININ G LIFEC YCLE The Integrated Royalty Model P R O D U C IN G R O Y AL T IE S & ST RE AM S D E V E L O P ME N T P R O J E C T S S E L E C T E X P L O R AT I O N E X P O S U R E Cash Flow Today Growth Tomorrow Optionality for the Future Current Revenue Generation Future Reve
Slide 10: Endeavour Partnership
STRATEGI C SOURCI NG & N ETWO RK A DVANTAG E Endeavour Partnership Empress has formed a strategic partnership with Endeavour Financial - both its Investment Manager and a significant shareholder. Leveraging Endeavour's global team of investment bankers, geologists, mining engineers, cash-flow analys
Slide 11: Structured Mining Finance Experience
PR OVEN EXP ER TISE Structured Mining Finance Experience BOARD OF DIRECTORS MANAGEMENT & ADV ISO RS David Alexandra Natascha Alexandra Xavier Michelle Michelle Rhodes Woodyer Kiernan Woodyer Wenzel Borthwick Borromeo Executive Chairman Sherron Lead Director Sherron CFO VP, Corporate Strategic CEO &
Slide 12: Global Portfolio of Producing Mines
CORNERSTONE INVESTMENTS Global Portfolio of Producing Mines 4 Investment Revenue to date NAV P R O DU C I N G M I N E S Tahuehueto MEXICO / SILVER STREAM Sierra Antapite PERU / GOLD STREAM INVESTMENT $5M INVESTMENT $10M REVENUE TO DATE $28M REVENUE TO DATE $9M NAV $44M NAV $28M Galaxy SOUTH AFRICA /
Slide 13: Tahuehueto Mine
COR NER STON E INVESTMENT Tahuehueto Mine Underground Mine · Mexico · Operator: Luca Mining (TSXV: LUCA) Empress' investment was instrumental in completing the construction of the mine, now fully operational. Luca announced commercial production at Tahuehueto in 2025 and launched an exploration prog
Slide 14: Sierra Antapite Mine
COR NER STON E INVESTMENT Sierra Antapite Mine Underground Gold Mine · Peru · Operator: Sierra Sun Group (Private) Empress' investment enabled Sierra Antapite to expand production capacity at this high-grade underground mine, with ongoing development aimed at boosting near-term output. Sustainabilit
Slide 15: Galaxy Mine
COR NER STON E INVESTMENT Galaxy Mine Underground Gold Mine · South Africa · Operator: Golconda Gold (TSXV: GG) Empress' investment provided Galaxy with capital to acquire additional underground mining equipment, accelerating mine development. This enables Galaxy to maximize mill throughput, increas
Slide 16: Manica Mine
COR NER STON E INVESTMENT Manica Mine Open Pit Gold Mine · Mozambique · Operator: MMP (Private) Empress' investment was instrumental in completing construction of the oxide plant, enabling the commencement of gold production. The plant has processed gold from multiple open-pit sources, generating ou
Slide 17: Highlighted Development & Exploration Royalties
EMBEDDED OPTI ONALITY Highlighted Development & Exploration Royalties Pinos AU·AG Dillard CU·AU·AG Los Venados GOLD Prospect Valley GOLD Zacatecas, Mexico British Columbia, Canada Sonora, Mexico British Columbia, Canada DEVELOPMENT PRIVATE MRE/EXPLORATION KODIAK COPPER OPERATING DISTRICT/EXPLORATION
Slide 18: Fueling Growth & Increasing Diversification
THE PIPELINE Fueling Growth & Increasing Diversification Strategic Deal Flow Disciplined Evaluation Growth with Control Advancing a strong pipeline sourced With over US$50M in deals under Each transaction must strengthen through our global network and review, we apply rigorous due our portfolio thro
Slide 19: Revenue on the Rise
BOO STED BY SUR GIN G GO LD & SILVER PRI CES Revenue on the Rise $60M $50M Potential Revenue Increase US$ M IL LI ONS With Higher Commodity Prices $40M $30M $20M $17.2M $17.3M J U N E 30 , 2 0 26 $10M $8.0M $1.8M $3.5M $0M 2022 2023 2024 2025 2026 2027 2028 Projected revenue uses management estimate
Slide 20: Uncovering Hidden Value
TRA DI NG BELOW INDUSTRY AVER AGES Uncovering Hidden Value PRICE / NET ASSET VALUE PRICE / CASH FLOW 2026 PRICE / REVENUE 2026 1.65x 39.09x 49.35x 31.90x 1.20x 1.14x 1.10x 1.01x 0.97x 0.87x 25.24x 19.35x 23.46x 0.72x 0.73x 0.64x 0.66x 19.37x 17.78x 18.81x 16.05x 15.27x 12.60x 13.44x 14.08x 15.09x 10
Slide 21: Capital Structure
STRONG SHAREHOLDER BASE Capital Structure TSXV: EMPR OTCQX: EMPYF SHAR E PR IC E * 52 -WE EK L OW / HIGH * S HA RE O WN ERS H IP C$1.01 C$0.75 – 1.32 MARK ET CAP * SHAR ES O /S 1 100% C$138M | US$98M 137M WAR RANTS & OP TIO NS 1 FU L LY D IL U TED 1 17M 154M 50% 40% 10% Institutional & Strategic Pub
Slide 22: Positioned for Accelerated Revenue Growth
NEXT PHASE GRO WTH CATA LYSTS Positioned for Accelerated Revenue Growth 1 2 3 Growing Cash Flow Strategic Deployment Cash Flow Optimization from Core Assets into New Transactions for Strategic Allocation Producing assets are delivering Actively advancing a pipeline of As recurring revenue grows, ris
Slide 23: An Integrated Royalty Company Built for Long-Term Growth
WHY EMPRESS. WHY NOW An Integrated Royalty Company Built for Long-Term Growth Proven Growing Pure Precious Undervalued Disciplined Foundation Revenue Metals Growth Model Record revenue, 2026 guidance ~100% gold & silver Trading at a Creation-focused, positive operating 7,000–7,400 GEOs; exposure - n
Slide 24: Let's talk
Let's talk Office Contact Follow Vancouver, British Columbia +1-604-331-2080 info@empressroyalty.com Toronto, Ontario info@empressroyalty.com London, United Kingdom empressroyalty.com Johannesburg, South Africa TSXV: EMPR | OTCQX: EMPYF
Slide 25: Appendix
SUPPORTING DETAIL Appendix Royalty and stream portfolios, and supporting reference detail Empress Royalty · TS X V: E MP R | O TC Q X: E MP Y F
Slide 26: Production & Development Royalties and Streams
APPENDIX Production & Development Royalties and Streams Production stage royalties and streams. P RO PE R TY OWN E R LOC A TIO N C OMM ODIT Y T YP E /T ER MS Tahuehueto Mine Luca Mining (TSXV: LUCA) Mexico Silver 100% stream, then 20% Sierra Antapite Mine Sierra Sun Group (Private) Peru Gold 4.5% st
Slide 27: Exploration Royalties - Canada & USA
APPENDIX Exploration Royalties - Canada & USA Exploration stage royalties and streams. P RO PE R TY OWN E R LOC A TIO N C OMM ODIT Y T ER MS Dillard Kodiak Copper British Columbia Copper / Gold / Silver 2% NSR Prospect Valley Westhaven Gold British Columbia Gold 2% NSR Willow Abacus Mining Nevada, U
Slide 28: Exploration Royalties - Canada & USA
APPENDIX Exploration Royalties - Canada & USA Exploration stage royalties and streams (continued). P RO PE R TY OWN E R LOC A TIO N C OMM ODIT Y T ER MS Empress Gold Strike Resources Corp. Ontario Gold 1% NSR Fisher Geiger Energy Corp. Saskatchewan Copper / Zinc 0.5% NSR / 1% NSR Dog Lake Big Ridge
Slide 29: Exploration Royalties - Mexico
APPENDIX Exploration Royalties - Mexico Exploration stage royalties and streams. P RO PE R TY OWN E R LOC A TIO N C OMM ODIT Y TERM S Los Venados Alamos Gold Mexico Gold 2% NSR El Encuentro McEwen Mining Mexico Gold / Silver 2% NSR Cerro Colorado Gold Resource Corp. Mexico Gold / Silver 2% NSR El Fu
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