Altius Minerals Corporation · TSX:ALS
Altius Minerals — Investor Presentation (May 2025)
25 slides from Altius Minerals's investor presentation, May 16, 2025
Slide 1: Corporate Presentation
TSX: ALS | OTCQX: ATUSF Diversified , Long-Life, Natural Resource Royalties Corporate Presentation May 16, 2025 Renewable Power | Clean Steel | Potash | Copper | 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 South Potash Production America 12% 21% 10 Mines & 13 Renewable Gold Canada 34% Analyst 38% Construction Consensus Consensus High- NAV by Purity 3 Mines & 3 Renewable NAV1 Iron Ore
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 Gold District
Silicon Gold District 1.5% NSR Classified Resources Mineralization Footprint Major new Nevada gold district discovery by Anglogold Ashanti Concept-stage Pit with more than 16 Moz (refer to resource table on slide 26) of gold outline in resources published to date with significant ongoing resource Si
Slide 7: Silicon Project Investment Analysis
Project Generation Business Silicon Project Investment Analysis The Silicon Gold project originated in 2014 as part of a $300,000 generative Orogen Investment Returns (C$M) exploration focused grubstake agreement between Renaissance Exploration and Callinan Royalties that resulted in the creation of
Slide 8: Kami Project Investment Analysis
Project Generation Business Kami Project Investment Analysis Discovered by Altius project generation group in 2004 through a $2M exploration campaign Vended to Alderon Iron Ore Corp and 3% GRR retained on the project, along with Alderon Equity ~$3M cash return upon acquisition of project by Champion
Slide 9: 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
Slide 10: Potash
Potash TSX: ALS | OTCQX: ATUSF |10
Slide 11: 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 12: Potash: Price Incentivization Required to Meet 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 $600 Jansen Phase 2 Incentive Price: $439/tonne Nutrien/Mosaic Sask. Brownfields $400 Incentive Price: $390/tonne $200 $0 2005 2006 2007 2
Slide 13: Base and Battery Metals
Base and Battery Metals TSX: ALS | OTCQX: ATUSF |13
Slide 14: 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 15: 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 16: High Purity (DR Grade) Iron Ore
High Purity (DR Grade) Iron Ore Labrador Trough TSX: ALS | OTCQX: ATUSF |16
Slide 17: High Purity Iron Ore
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 18: 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 19: 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 20: Renewable Energy
Renewable Energy TSX: ALS | OTCQX: ATUSF |20
Slide 21: Key US Electricity Trends
Key US Electricity Trends 16% 16% • Total power generation has increased by 10% over the past 25 years but is on track 1% 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 t
Slide 22: 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 $23.9M the existi
Slide 23: 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 46,301,246 Annual dividend increased to $0.36 per share Basic Market Capitalization1 $1.20 bil
Slide 24: Long-Term Performance Tracker
Long-Term Performance Tracker 1997-Current CAGR (Inc. Dividends): 20.3% $30.00 $25.00 $20.00 $15.00 $10.00 $5.00 $0.20- 1997 2000 2003 2006 2009 2012 2015 2018 2021 2024 Market Cap: Market Cap: <$1 million ~$1.2 billion TSX: ALS | OTCQX: ATUSF |24
Slide 25: Silicon Resources and Reserves
Silicon Resources and Reserves As reported by AngloGold Ashanti, Effective Dec 31 2024 Mineral Reserve1 Proven Probable Total Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Gold 000s g/t Moz 000s g/t Moz 000s g/t Moz North Bullfrog2 77.01 0.44 1.08 77.01 0.44 1.08 Notes: Rounding of num