Altius Minerals Corporation · TSX:ALS
Altius Minerals — Q4 2025 Earnings Presentation
12 slides from Altius Minerals's earnings presentation, Mar 11, 2026
Slide 1: Q4 2025 Financial Results Conference Call
TSX: ALS | OTCQX: ATUSF Q4 2025 Financial Results Conference Call Electricity | Potash | Lithium | C l e a n S t e e l | Copper | Gold | Nickel
Slide 2: Forward Looking Statements
Forward Looking Statements This document includes certain statements that constitute In particular, the forward looking statements and information “forward- looking statements” and “forward-looking information” contained herein relating to past, present and future commodity within the meaning of app
Slide 3: F2025 and Outlook – Operating Portfolio
F2025 and Outlook – Operating Portfolio Full year royalty revenue of $70M (including $8M in interest income), an increase over 2024 on higher base metal and potash prices, copper stream deliveries as well as growth of the renewable royalty portfolio which were offset by lower dividends from iron ore
Slide 4: Attributable Royalty Revenue by Quarter
Attributable Royalty Revenue by Quarter Revenue ($C) $30M 25 20 15 10 5 0 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 TSX: ALS | OTCQX: ATUSF Note: Revenue above includes interest income |4
Slide 5: Lithium Royalty Corp. Transaction Adds Meaningful Revenue Growth Potential
Lithium Royalty Corp. Transaction Adds Meaningful Revenue Growth Potential $2,000/t SC6 Illustrative Price Basis (current spot ~$2,200/t) Expected Lithium Revenue1 ($C) Ramp Ups New Builds / Expansions 80 71 $2,000/t 60 58 54 40 38 21 20 0 2026 2027 2028 2029 2030 Goulamina Neves 3Q Phase 2 Mariana
Slide 6: Leading Royalty Revenue Growth Profile
Leading Royalty Revenue Growth Profile Potential For Up to 3x Increase Over Next 5 Years From 2025 Baseline Spot 3.0x 2.0x Consensus 1.0x 2025 0.0x Base 2026 2027 2028 2029 2030 2031+ Mariana/Goulamina Curipamba Neves Saúva Tres Qua. Phase 2 Arthur Grota do Cirilo GdC Phase 2 Mariana Phase 2 Kami Tr
Slide 7: Strong Balance Sheet at Q4 2025
Strong Balance Sheet at Q4 2025 Cash at December 31, 2025 of $294 million, PG public equities valued at $49M (excluding LIORC, which has a value of $154M at Dec 31) 400 Debt PG Equities Royalty Capital Funds (Interest in LRC) Cash 300 294 200 100 13 16 22 133 37 41 29 40 109 16 117 122 15 113 109 89
Slide 8: Adjusted Net Earnings – Q4 2025
Adjusted Net Earnings – Q4 2025 Adjusted net earnings of $10.8 million or $0.24 per share after tax Net Earnings ($C) $10.8 $22.4 $3.8 ($1.6) ($26.9) $13.1 Net Earnings for Gain on sale of Impairment at Foreign Exchange Tax Impact (1) Adjusted Earnings Common Shareholders Royalty (After-tax) joint v
Slide 9: Adjusted Net Earnings – F2025
Adjusted Net Earnings – F2025 Adjusted net earnings of $22.5 million or $0.49 per share after tax Net Earnings ($C) $298.6 ($288.4) $13.1 ($3.1) $2.3 $22.5 Net Earnings for Gain on sale of Impairment at Foreign Exchange Tax Impact (1) Adjusted Earnings Common Shareholders Royalty (After-tax) joint v
Slide 10: Positive Results in Project Generation
Positive Results in Project Generation Market value of portfolio at December 31, 2025 of $49 million Net monetization (sales proceeds less new capital deployed) of $64 million during the year Junior Equity Portfolio Net Monetization Holdings $64M $16M $15M $17M $7M $3M $54M $54M $52M $56M $60M $50M
Slide 11: Capital Structure
Capital Structure Dividend per Share ($C/share) $0.40 Capitalization Table $0.36 Issued Common Shares1 55,915,754 $0.32 $0.30 Basic Market Capitalization1 $2.6 billion Cash2 $294 million $0.22 2 PG Equities $49 million $0.19 $0.19 $0.20 LIORC (TSX:LIF) Equity3 $154 million $0.13 Term Debt2 $89.3 mil
Slide 12: Q&A
Q&A