Altius Minerals Corporation · TSX:ALS
Altius Minerals — Investor Presentation (October 2026)
28 slides from Altius Minerals's investor presentation, Oct 13, 2026
Slide 1: Corporate Presentation October 13, 2026
TSX: ALS | OTCQX: ATUSF Corporate Presentation October 13, 2026 Electricity | Potash | Lithium | Clean Steel | Copper | Gold | Nickel
Slide 2: Forward Looking Statements
Forward Looking Statements This document includes certain statements that constitute “forward- looking Many factors, events and uncertainties which may arise in the future could cause statements” and “forward-looking information” within the meaning of applicable these statements to differ materially
Slide 3: Corporate Highlights
Corporate Highlights Solid Progress Over Past Year Completed sale of 2/3 of Arthur (Silicon) 1.5% NSR gold royalty for Extended track record of greater than 20% average compounded C$375 million (vs original investments for full royalty of share price growth into 29th year ~$300,000), while retaining
Slide 4: Pro-Forma Altius Royalty Revenue Growth Profile
Pro-Forma Altius Royalty Revenue Growth Profile Medium-Term Spot commodity price basis (as of July 6, 2026) Further Growth Potential2 Expected Royalty Revenue Growth Potential1 ($C) 2030-2035+ $250M Pipeline Royalties Other3 Arthur 200 Electricity GdC Phase 3 Gold 150 Moblan Base Gunnison 100 And Ba
Slide 5: Balance, Diversity & Longevity
Balance, Diversity & Longevity Large Resources and Geopolitical Advantages Amplify New Build and Expansion Optionality Gold Other Potash 7% 10% 14% Canada Electricity 32% 22% Analyst South Consensus Consensus America Jurisdiction 26% NAV1 Lithium NAV 32% Base Metals 11% Iron Ore USA 13% 32% Remainin
Slide 6: Electricity (ARR)
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Slide 7: GBR / ARR Background and Business Ownership Structure
GBR / ARR Background and Business Ownership Structure Altius Minerals 50% effective interest in GBR Development, Solar 1.9 GW Operating 3.5 GW Great Bay Royalties (GBR – originally Great Bay Renewables) was 9.4 GW originated in 2018 with a vision of bringing the royalty finance model to Under the el
Slide 8: Electricity Generation Royalties
Electricity Generation Royalties Strong Power Demand Growth in US Market Diversified portfolio of operating, construction and development stage assets across key US power regions Total US power generation on track to grow by 15% over the next 5 years while prices established under Power Purchase Agr
Slide 9: Increasing Exposure to Growing Revenue Profile
Increasing Exposure to Growing Revenue Profile Additional advanced stage royalty acquisitions expected to further drive growth trajectory $100M GBR Revenue ($C)1 100% GBR Basis (Altius 50% post closing of transaction) $88M $84M $80M 80 60 $54M 40 $39M $27M 20 0 2025 2026 2027 2028 2029 2030 Late Sta
Slide 10: Base & Battery Metals
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Slide 11: Copper Price Making New Highs
Copper Price Making New Highs Copper Price ($US) $7.00/lbs 6.00 5.00 January 2019: Curipamba NSR Acquisition March 2016: 4.00 Copper Price: $2.69/lbs Chapada Investment Copper Price: $2.21/lbs 3.00 2.00 1.00 0.00 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Source: Bloomberg |11
Slide 12: Base Metal Royalties
Base Metal Royalties Growth Catalysts Construction advancing at Curipamba with first production expected in 2027 Incorporation of Saúva deposit discovery into mine plan at Chapada expected to increase copper production by 15-20k tonnes per year (33-50%) starting 2029 Voisey’s Bay new underground min
Slide 13: Base Metal 5 Year Royalty Revenue
Base Metal 5 Year Royalty Revenue Spot Commodity Price Basis (June 22, 2026) Royalty Revenue ($C) (1) $60M $58M $58M 10 10 50 $46M 3 3 $40M 10 40 $38M 3 5 3 3 30 45 46 20 35 32 33 10 0 2026 2027 2028 2029 2030 Chapada Voisey’s Bay Curipamba 1. Estimates are provided for illustrative purposes only ba
Slide 14: Base & Battery Metals - Lithium
Base & Battery Metals - Lithium |14
Slide 15: Lithium Cycle Has Turned Upwards
Lithium Cycle Has Turned Upwards Spot prices have turned upwards since LRC acquisition announcement in December Lithium Carbonate ($US) $100,000/tonne 80,000 60,000 40,000 May 29 2026: $25,589 20,000 Dec. 2025: $14,424 0 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Source: Bloomberg |15
Slide 16: LRC Acquisition Off to Strong Start
LRC Acquisition Off to Strong Start Pricing and asset volume growth announcements resulting in upward revision of revenue projections Lithium Revenue1 ($C) 100 93 $2,800/t SC6 (~ spot price) 85 79 80 60 $1,771/t SC6 52 (analyst consensus 2028 price forecast)3 40 26 63 52 55 20 34 6.5 19 0 20252 2026
Slide 17: Potash
Potash |17
Slide 18: Potash Market - Steady Compounding Demand Growth
Potash Market - Steady Compounding Demand Growth While Royalty Mines Also Gaining Market Share (Now 24% of Global Supply) Global Potash Demand Growth 135 Mt 140Mt Actual Global Demand Major capacity additions in potash are highly capital LT Growth Trend (2.4% CAGR) intensive and typically require 7-
Slide 19: Potash Price
Potash Price Current market price well below incentive price Potash Benchmark Price ($US) $1,000/tonne 800 Jansen Brownfields Phase 2 (BHP 2026 Capex & Opex Estimates) Implied Incentive Price (15%): ~$500/tonne 600 400 200 Nutrien / Mosaic Sask. Brownfields (2009-2014 Major Capital Investment Progra
Slide 20: Potash Royalty Revenue Forecast
Potash 10 Year Royalty Revenue Forecast Conservative Price and Volume Assumptions Altius Mine Potash Production (KCl) (1) Royalty Revenue ($C) (1) 30 Mt $30M 25 25 Mosaic 20 20 15 15 $29.2 $26.7 $27.2 $27.8 $28.6 $26.5 $26.1 $25.2 $25.9 Nutrien $21.4 10 10 5 5 0 0 2026 2027 2028 2029 2030 2031 2032
Slide 21: Iron Ore
Iron Ore |21
Slide 22: IOC
IOC Major Capex Program Underway Royalty interest is through equity holding in passively managed Labrador Iron Ore Royalty Corp (LIF) that holds a large mine royalty and a minority equity position in IOC IOC (Rio Tinto controlled and operated) mines currently undergoing significant, multi-year capit
Slide 23: Kami Project
Kami Project Potential to Become Largest Single Mine Royalty in Portfolio - 3% GSR Tonnes Grade Kami Reserves (PFS Plan) 643,000,000 29.18% 30% 51% M&I Resources 975,000,000 29.6% Inferred Resources 163,000,000 29.20% 19% Resources Inclusive of Reserves Source: Champion Iron Resource and Reserve Rep
Slide 24: Arthur
Arthur “The exceptional economics detailed in the pre-feasibility study firmly establish the Arthur Gold Project as the cornerstone of our US growth platform. With a world-class oxide orebody, minimal technical risk, and a disciplined capital approach, we have a clear roadmap to driving immense long
Slide 25: Arthur Gold Royalty
Arthur Gold Royalty Value Creation Crystallized – Continuing Growth Exposure Altius sold 2/3 of its original 1.5% NSR Arthur Gold royalty to Franco-Nevada for ~C$375 million vs original US$300,000 investment Large oxide gold resource with significant ongoing growth and discovery potential - District
Slide 26: Project Generation Business
Project Generation Business Royalty Creation while Profiting from Exploration (e.g. Kami and Arthur) 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 portfolio of p
Slide 27: Disciplined, Counter-Cyclical Investment Track Record
Disciplined, Counter-Cyclical Investment Track Record Past Receipts + Consensus Discounted Future Cash Flows Relative to Purchase Price Investments1 $14 Investments $77 Voisey’s Bay Chapada 2003 Acquisition 2016 Acquisition Returns $45 $12 4.2x Returns $130 $162 3.8x Net Revenue NAV Net Revenue NAV
Slide 28: Capital Structure
Capital Structure Dividend per Share ($C/share) $0.42 Capitalization Table $0.40 $0.36 Issued Common Shares1 58,754,253 $0.32 $0.30 Basic Market Capitalization1 $3.8 billion Cash2 $177 million $0.22 $0.20 PG Equities3 $80 million $0.19 $0.19 LIORC (TSX:LIF) Equity2 $145 million $0.13 $0.12 $0.11 Ter
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