Vox Royalty Corp · TSX:VOXR
Vox Royalty — Investor Presentation (August 2023)
27 slides from Vox Royalty's investor presentation, August 2023
Slide 1: A Smarter Commodity Investment
A Smarter Commodity Investment INVESTOR PRESENTATION August 2023 NASDAQ: VOXR TSX: VOXR
Slide 2: Disclaimer
Disclaimer This presentation shall not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the securities laws of any such jurisdiction. This
Slide 3: The Vox Royalty Problem and Solution
THE VOX ROYALTY PROBLEM SOLUTION Mining equities have Vox was built to solve a problem. historically underperformed relative A returns-focused royalty vehicle t o k e y e q u i t y i n d i c e s 1. Built with competitive advantages that are systematic, disciplined Many investors want and process
Slide 4: What is a Mining Royalty?
What is a Mining Royalty? What is a Royalty? Why Royalties vs. Mining Companies? Royalty Metal $$ Physical Miner Co ETF Funds Commodity Price Upside Fixed Operating Prospector Costs (discovered mine, sold for royalty) Capital Costs $$$$ % Revenue Exploration Upside Mine Operator Asset Diversificatio
Slide 5: Why Royalties? Case Studies
Why Royalties? Case Studies Mine restarts, major capital investment and discovery potential unlock major royalty value The very best royalties have catalysts that Figures below shown in USD$ unlock value through: Mine restarts at higher commodity prices +$1B capital investment to extend mine lif
Slide 6: What differentiates Vox Royalty?
What differentiates Vox Royalty? Targeting the highest returns on invested capital in the royalty industry Unique Proprietary IP (>8,500 royalties) Creates Vox’s Competitive Advantage to Fuel Quality, Organic Growth Technical Team Objectively Reviews Asset Quality and all Transaction Opportunities (
Slide 7: Proprietary Database
Proprietary Database Information edge underpins hidden value Vox’s ability to source attractively priced dealflow is underpinned by its proprietary global database of +8,500 royalties Significant innovations deployed in past 24 months to expand database by +1,000 royalties Database has enabled
Slide 8: Event Driven Acquisitions
Event Driven Acquisitions Track record of identifying opportunities pre-major catalyst announcements Mt Ida Resource PFS ASX Operator Construction (March 2020) Upgrade Completed Takeover Contract Award Wonmunna 13.5Mtpa expansion Production Ongoing brownfields (May 2022) permitted increased >5Mtpa d
Slide 9: Capital Light & Scalable
Capital Light & Scalable Vox continues to deliver a multiplier effect through high operator capex (committed and invested) while keeping its own headcount lean Major capex invested over 3Y by operators… …complimented by headcount light business model 200 $184 2,500 180 Operator Capex (US$M) 160 2,00
Slide 10: Company Highlights & Relative Peer Group
Company Highlights & Relative Peer Group1 Accelerating growth, scalable ‘capital light’ business Dividend Paying… …Growing Royalty Receipts… …Growing Asset Count 0 15 70 1.9% 1.8% $11 – 13M 62 0 1.7% 58 1.6% 60 0 1.5% 1.5% 12 0 50 47 $9.7M 0 1.1% 9 40 1.0% 0 30 0 6 21 0 $3.6M 20 0 3 10 0 4 $0.1M 0 0
Slide 11: Vox Royalty Overview
Vox Royalty Overview Strong balance sheet, tight capital structure with +10% management ownership CAPITAL STRUCTURE Share Price US$2.27 Non-Precious (NASDAQ as at August 7, 2023) 30% Shares Issued 48.6M PRECIOUS Options 1.6M METALS Precious Warrants 6.4M WEIGHTED 70% • 6.4M at C$4.50, expiry March 2
Slide 12: Global Royalty Portfolio
Global Royalty Portfolio Critical mass of >50 royalties, 80% weighted to Tier 1 mining countries Australia / Canada / USA Near-term Asset Stage Current potential2 Producing 6 6 Lynn Lake Final Environmental Impact Assessment Development1 24 11 completed in Q1 2023 Exploration 30 - TOTAL 60 17 Montan
Slide 13: Organic Revenue Growth
Organic Revenue Growth Revenue growth expectations driven by expansions and new mines coming online Royalty Receipts (US$M) Expansions Estimated +2025 Key Projects Wonmunna >5Mtpa Bowdens Goldlund Binduli North heap leach Sulphur Springs South Railroad Lynn Lake $11M - $13M Estimated Near-Term Proje
Slide 14: Peer Group – Emerging Royalty Companies
Peer Group – Emerging Royalty Companies Select Companies below $1BN in Market Capitalization1 Vox continues to lead the emerging royalty industry in revenue-linked return on capital invested 2022A Revenue / Capital Deployed (%) $600 25% $500 21% 20% $400 15% $300 10% $200 7% 6% 5% $100 2% 2% 1% $0 0
Slide 15: Peer Group – Emerging Royalty Companies (Cont.)
Peer Group – Emerging Royalty Companies (Cont.) Select Companies below $1BN in Market Capitalization6 EV / Royalty Revenue (2022A) 120.0 100.0 5 4 89.1x 82.1x 80.0 3 3 70.3x 60.0 40.0 2 25.3x 5 2 5 20.0 1 16.3x 1 11.4x 0.0 Vox Royalty Trident Nova Royalty Elemental Metalla Gold Royalty Corp Source:
Slide 16: Why Vox? Why Now?
Why Vox? Why Now? Accelerating growth, ‘capital light’ model Shareholder aligned management with +10% ownership and recent on-market buying Major catalysts delivered in the last year, maiden dividend policy, NASDAQ listing and TSX graduation +160% annual revenue growth achieved in 2022 underpi
Slide 17: Questions?
QUESTIONS? 17
Slide 18: Equity vs. Royalty Case Study
Equity vs. Royalty Case Study 30 June 2011 30 November 2021 Jan 2012 Franco buys 1.5% NSR Edikan remaining Edikan mine achieves on Edikan project for reserve life of 6 years commercial production US$35M x 212,000oz pa 1.9Moz produced at Edikan (royalty-linked) 1.34 CAD Dec 3, 2021 Equity Holder $145
Slide 19: Management
Management Technically focused team with >$1.5B royalty transaction experience Kyle Floyd, CEO Founded Vox Royalty; 10+ years of streaming and royalty acquisition experience; instrumental in financing and advising approximately $1B in transactions; attended TEAM HIGHLIGHTS MSc Mineral Economics (Col
Slide 20: Full Portfolio
Full Portfolio Current Royalty & Streaming Interests Assets Interest Commodity Stage Jurisdiction Operator 1.25% GRR – 1.50% GRR Wonmunna Iron Ore Production Australia Mineral Resources Ltd (>A$100/t iron ore) Koolyanobbing (part Deception/Altair 2.0% FOB revenue Iron Ore Production Australia Minera
Slide 21: Full Portfolio (continued)
Full Portfolio (continued) Current Royalty & Streaming Interests Assets Interest Commodity Stage Jurisdiction Operator Platinum, Palladium, Gold, Limpopo (Dwaalkop) 1.0% Gross Receipts Royalty Development South Africa Sibanye Stillwater Copper, Nickel Platinum, Palladium, Gold, Limpopo (Messina) 0.7
Slide 22: Full Portfolio (continued)
Full Portfolio (continued) Current Royalty & Streaming Interests Assets Interest Commodity Stage Jurisdiction Operator Kookynie A$1/t ore production royalty Genesis Minerals / Gold Development Australia (Consolidated Gold) (with gold grade escalator1) Metalicity Limited A$1/t ore production royalty
Slide 23: Full Portfolio (continued)
Full Portfolio (continued) Current Royalty & Streaming Interests Assets Interest Commodity Stage Jurisdiction Operator Merlin 0.75% gross revenue royalty (>250koz) Gold Exploration Australia Black Cat Syndicate Accelerate Resources Comet Gold 1% Net smelter return Gold Exploration Australia Ltd Mt M
Slide 24: Full Portfolio (continued)
Full Portfolio (continued) Current Royalty & Streaming Interests Assets Interest Commodity Stage Jurisdiction Operator 1% NSR Kenbridge Nickel, Copper, Cobalt Development Canada Tartisan Nickel Corp. (fully buyback C$1.5M) 2% Gross Proceeds Lynn Lake (Nickel) Nickel, Copper, Cobalt Exploration Canad
Slide 25: Technical & Third-Party Information
Technical & Third-Party Information Technical & Third-Party Information Market and industry data presented throughout this presentation was obtained form third-party sources, industry reports and publications, websites and other publicly available information as well as industry and other data prepa
Slide 26: Notes
Notes Cautionary Note to United States Investors The information herein is not for distribution and does not constitute an offer to buy any securities within the United States (as defined in Regulation S under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”). Securiti
Slide 27: Contact
+1 345 815 3939 info@voxroyalty.com www.voxroyalty.com 66 Wellington St W, Suite 5300 TD Bank Tower Toronto, Ontario M5K 1E6 Canada 27