Lunr Royalties Corp · TSX:LUNR
Lunr Royalties — Investor Presentation (September 2026)
19 slides from Lunr Royalties's investor presentation, September 2026
Slide 1: Reach for the moon
Reach for the moon On a mission to be the next major precious metals royalty and streaming company TSX: LUNR INVESTOR PRESENTATION | September 2026 www.lunrroyalties.com
Slide 2: Cautionary Statement
Cautionary Statement Caution Regarding Forward-Looking Information Certain of the statements made and information contained herein is “forward-looking information” within the meaning of applicable Canadian securities laws. All statements other than statements of historical facts included in this doc
Slide 3: Purpose Built To Deliver Value
Purpose Built To Deliver Value LunR was spun-out of NGEx Minerals with one purpose: to capture value in the mining royalty and streaming space. LunR will apply the Lundin Group’s ethos to royalty and streaming transactions, taking a long-term view on assets with a focus on scale and quality. LunR is
Slide 4: Asset Snapshot
Asset Snapshot LunR is building a concentrated portfolio of high-quality royalty and streaming interests Fruta del Norte | Ecuador | Producing ▶ 100% Silver Stream, subject to dropdowns after 12.2 Moz delivered ▶ 2026 silver production guidance of 500 to 600 koz ▶ One of the highest grade, lowest co
Slide 5: The Royalty Sector Opportunity
The Royalty Sector Opportunity Seniors Wheaton $70.8 P/NAV: 2.2 - 2.5x Franco-Nevada $51.5 Royal Gold Intermediates Triple Flag Avg P/NAV: 1.5x OR LunR’s assets provide a strong LunR foundation to support disciplined growth. Elemental Versamet Juniors Metalla Avg P/NAV: 1.2x Gold Royalty Vox $0.0 $5
Slide 6: LunR’s Swift Evolution
LunR’s Swift Evolution Focused on getting the sequence right to support continued disciplined growth Oct 2025 Dec 2025 Feb 2026 Spun out of NGEx with Commenced trading on Announced Fruta del Lunahuasi and Los the TSXV Norte silver stream Helados royalties acquisition C$859M market cap May 2026 Jun 2
Slide 7: Leadership
Leadership Adam Lundin Trevor D’Sa Connor Mackay Judy A. McCall Vincent Lee President, CEO & Chair Chief Investment Officer Chief Financial Officer Corporate Secretary Controller Jamie Beck Martino De Ciccio Tara Hassan Scott Langley Armando Picciotto Wojtek Wodzicki Director Director Director Direc
Slide 8: Corporate Overview
Corporate Overview Capitalization Share Ownership Basic Shares Outstanding 120.9M % of Issued & outstanding Options 4.1M - Lundin Family Trusts Fully Diluted 125.0M 28.2% - Newmont Basic Market Cap. C$2.7B - NGEx Minerals 44.9% Cash $3.3M (at Jun 30, 2026) - Management/Insiders Debt Nil - Other 13.3
Slide 9: Production: Life-of-Mine Silver Stream on Fruta Del Norte
Production: Life-of-Mine Silver Stream on Fruta Del Norte TSX: LUNR 9
Slide 10: A Transformational Acquisition
A Transformational Acquisition May 28, 2026, Announcement: LunR closed the acquisition of a life-of-mine uncapped silver stream on Lundin Gold’s Fruta del Norte mine. Transaction Highlights: ▶ Adds immediate Cash Flow and exposure to a third Tier 1 Asset to LunR’s portfolio ▶ Establishes LunR as an
Slide 11: Fruta del Norte Silver Stream
Fruta del Norte Silver Stream ▶ One of the highest-grade, lowest-cost major gold mines globally. ▶ 2026 Production Guidance: 500k to 600k ounces of silver.1 ▶ LunR received its first stream delivery in Q2 2026. Stream Details First 12.2 Moz 100% of payable silver, purchased at 10% of spot Next 7.8 M
Slide 12: Stream Area & Exploration Upside
Stream Area & Exploration Upside LunR’s stream area encompasses all delineated Reserves & Resources, as well as seven Cu-Au-Ag porphyry discoveries. FDN & FDNS ▪ FDNS Inferred Resources carry higher silver grades, reflecting recent exploration success. ▪ Conversion drilling ongoing, expansionary dri
Slide 13: Exploration/Development: Royalties on NGEx Minerals’ Vicuña District Projects
Exploration/Development: Royalties on NGEx Minerals’ Vicuña District Projects TSX: LUNR 13
Slide 14: Our Royalty Assets
Our Royalty Assets Lunahuasi | 1.00% NSR Los Helados | 1.38% NSR Location: San Juan Province, Argentina Location: Region III, Chile Ownership: 100% NGEx Ownership: 69% NGEx, 31% Lundin Mining Deposit Type: High-sulphidation epithermal Deposit Type: Copper-Gold Porphyry Mineralization: Copper-Gold-Si
Slide 15: Top-Line Exposure to the Vicuña District
Top-Line Exposure to the Vicuña District Soon to be one of the largest copper-gold-silver production centers globally Lunahuasi and Los Helados are the last pieces of the Vicuña puzzle. They are highly strategic assets with significant exploration upside and the potential for long mine lives. Other
Slide 16: Lunahuasi
Lunahuasi 1.00% NSR One of the highest-grade base and precious metal discoveries of recent history Three distinct styles of overprinting mineralization 1: High-sulphidation Cu-Au-Ag veins ▪ Discovery Hole: 60.0 m at 7.52% CuEq2 (5.65% Cu, 2.04 g/t Au, 44.0 g/t Ag) ▪ Hole 28: 51.1 m at 13.84% CuEq2 (
Slide 17: Los Helados
Los Helados 1.38% NSR One of the largest undeveloped copper projects on Earth October 2023 Mineral Resource Estimate1 Grade Contained Cut-off Tonnes Category (% CuEq) (Mt) Cu (%) Au (g/t) Ag (g/t) Cu (Blbs) Au (Moz) Ag (Moz) Indicated 2,080 0.40 0.15 1.5 18.4 10.2 97.5 0.33 Inferred 1,080 0.34 0.10
Slide 18: A Strong Platform for Growth
A Strong Platform for Growth → Continuing to pursue accretive deal flow ▪ LunR now has enhanced liquidity with up to $150 million available under its credit facility. ▪ FDN transaction showed LunR’s ability to structure large deals that surface value for both parties. → Organic growth catalysts alre
Slide 19: Contact
Contact: LunR Royalties Corp. Suite 2800, 1055 Dunsmuir St. Vancouver, BC, Canada V7X 1L2 info@lunrroyalties.com www.lunrroyalties.com
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