Slide 1: January 2019
JANUARY 2019
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS This document includes certain statements that constitute “forward‐looking statements” and “forward-looking information” within the meaning of applicable securities laws (collectively, “forward‐looking statements”). Forward- looking statements include statements regarding
Slide 3: Altius
ALTIUS Focus on diversified mining royalties (base metal, bulks and fertilizers) Strong revenue growth record High-quality mines, operators and jurisdictions Longest-life royalty portfolio in sector Counter-cyclical discipline Attractive valuation compared to North American pure royalty companies 3
Slide 4: Capital Structure and Balance Sheet
CAPITAL STRUCTURE AND BALANCE SHEET ALS:TSX | ATUSF: OTCQX Research Coverage Issued Common Shares 42.8 million Craig Hutchison Fairfax Preferred Securities 10.0 million Brian MacArthur Basic Market Capitalization $483 million Annual Dividend $0.16 per share Orest Wowkodaw Outstanding Debt $115 milli
Slide 5: Diversified
DIVERSIFIED Other 2% Nickel 1% Met. Coal 5% Zinc 7% Iron Ore Copper 2018 9% 35% Revenue 2018 Revenue Commodity Mix $66.9M Thermal Coal 20% Potash 21% A Balance of Base Metals, Bulk Commodities and Fertilizers 5
Slide 6: Growth
GROWTH Royalty Revenue (FY2014 – 2018)† $67M-$72M $67M $47M $33M $28M $6M † FY 2014 FY 2015 FY 2016 FY 2017 2018 2019 LTM Guidance Range EBITDA Margin† Royalty Revenue Per Share (FY2014 – 2018)† $1.56 80% $1.08 $0.88 $0.83 $0.22 † FY 2014 FY 2015 FY 2016 FY 2017 2018 Strongest revenue growth record
Slide 7: Growth
GROWTH Embedded future royalty growth requires no additional capital investment… Rocanville Voisey’s Gunnison (Nutrien) Bay Under (Vale) Construction (Excelsior) Vanscoy Esterhazy (Nutrien) (Mosaic) Ramping Cardinal River Up (Teck) Kami Feasibility Chapada (Alderon & Hebei) Stage (Yamana) Cory Allan
Slide 8: Growth
GROWTH Portfolio of Junior Explorers Provides Additional Long Term Royalty Pipeline Potential $54 Project generation portfolio value as at December 31, Million 2018. (~1.27/share) 54 Converted to new royalties and junior equities since $54M Projects 2016 market bottom. $33M $22M Altius vended 25 pro
Slide 9: Quality
QUALITY Rocanville Mine Allan Mine Cory Mine Patience Lake Vanscoy Mine Chapada Mine Commodity Potash Location Saskatchewan, Canada Commodity Copper Location Goiás, Brazil Esterhazy Mine Commodity Potash 777 Mine Location Saskatchewan, Canada Commodity Copper, Zinc, Gold & Silver Location Manitoba,
Slide 10: Long-Life
LONG-LIFE Revenue Weighted Average Mine Life Remaining ~ 30 Years (Reserves Basis) IOC 24 18 20 Total: 62 Years Base Metals Chapada 26 10 2 Total: 38 Years Voisey 14 1 3 Total: 18 Years Reserve Mine Life (Years) M&I Resource Life (Years) 777 3 Total: 3 Years Inferred Resource Life (Years) Metallurgi
Slide 11: Counter-Cyclical
COUNTER-CYCLICAL Cyclical discipline exercised in both M&A and organic growth initiatives 1997 – 2001 2002 – 2011 2012 – 2015 2016 – Present COMMODITIES SUPERCYCLE BEGINS COMMODITIES ROYALTY REVENUE GROWING FAST AS IPO 40 SUPERCYCLE ENDS COMMODITY PRICES RECOVER ― Voisey’s Bay royalty acquired Numbe
Slide 12: Attractive Valuation
ATTRACTIVE VALUATION EV/EBITDA (2019E)† P/CF (2019E)† P/NAV Franco-Nevada Corporation 20.6x Franco-Nevada Corporation 23.7x Royal Gold Inc. 1.8x Wheaton Precious Metals 16.5x PrairieSky Royalty Ltd. 20.1x Franco-Nevada Corporation 1.6x Corp. Wheaton Precious Metals Osisko Gold Royalties Ltd. 16.3x O
Slide 13: Thank You
THANK YOU PRODUCING ROYALTIES DEVELOPMENT ROYALTIES PROJECT GENERATION PROJECT Flora Wood CONTACT Director, Investor Relations INFORMATION Phone: (416)346-9020 Email: Flora@altiusminerals.com