Altius Minerals Corporation · TSX:ALS
Altius Minerals — 16th Annual Global Mining Conference 2025
15 slides from Altius Minerals's conference presentation, Jan 14, 2025
Slide 1: Diversified, Long-Life, Natural Resource Royalties
TSX: ALS | OTCQX: ATUSF Diversified , Long-Life, Natural Resource Royalties 16 th Annual Global Mining Conference January 14-16, 2025 Renewable Power | Clean Steel | Potash | Copper | Lithium | Nickel | Cobalt
Slide 2: Forward Looking Statements
Forward Looking Statements This document includes certain statements that constitute “forward- In particular, the forward looking statements and information looking statements” and “forward-looking information” within the contained herein relating to past, present and future commodity meaning of app
Slide 3: 2024 Highlights
2024 Highlights Potash High-Purity Iron Ore Global potash demand returns to LT growth trend levels on more affordable pricing Kami Project - PFS, EIS stage-1 review, steelmaker partnering and offtake completed while operators highlight competitive abilities to continue to incrementally grow Continue
Slide 4: Balance, Diversity & Longevity
Balance, Diversity & Longevity Remaining Royalty Lives Range From 19 to 163 years (Average 43 years) Production 10 Mines, 13 Renewable Other South 1% America Gold Construction 20% 17% Potash 4 Mines, 2 Renewable 28% Canada Advanced Study 49% 2 Mines, 21 Renewable Analyst Consensus Consensus NAV by N
Slide 5: Silicon Gold District
Silicon Gold District Highlights and Outlook Major new Nevada gold district discovery by Anglogold Ashanti Significant ongoing resource growth potential Expanded Silicon PFS underway, covering the Silicon and Merlin deposits Altius 1.5% NSR Royalty Partial award under ongoing arbitration has been an
Slide 6: Potash
Potash Market Stabilized – Long-term Growth Trend Intact Global Demand Tracking Well to Long-Term Growth Trend 129 Mt 140 Potash prices re-basing at higher levels following war-based price surge and Actual Global Demand inflationary reorganization of global distribution and logistics networks 102 Mt
Slide 7: Base and Battery Metals
Base and Battery Metals Copper, Nickel, Cobalt and Lithium Chapada District Contained Copper Resource & Reserve1 (Mlbs) Copper prices still well below incentive levels as costs Chapada Reserve Chapada Measured & Indicated Sauva Measured & Indicated Depletion have increased more than prices +2.5 Blbs
Slide 8: Base and Battery Metals
$12.00 Production Cost Capital Intensity Base and Battery Metals +609% $10.00 1.0% Copper Incentive Price $8.00 As existing fleet of mines become lower grade, deeper and old the cost of extending lives or building $6.00 new has increased significantly $4.00 +400% Copper price has not kept pace with
Slide 9: Renewable Energy Royalties
Renewable Energy Royalties 57% Equity 2.6 GW of operating ~7.2 GW of Altius Renewable Royalties co-founded Great Bay royalties, US wind and 9 states development royalties solar Renewables (GBR) in 2019 GBR became a 50:50 joint venture with Funds controlled by global PE firm Apollo Global Management
Slide 10: High-Purity Iron Ore
High-Purity Iron Ore Positioned to Benefit From BF to DR Grade Market Share Reversal Steelmaking Market Share by Process Global Crude Steel Production 2,500 29% EAF Steelmaking 3.4% CAGR Iron Inputs 73% 2,000 Scrap Steel DR Grade Iron Ore (>67% Fe) 1,500 1,000 BF / BOF Steelmaking Iron inputs BF Gra
Slide 11: High-Purity Iron Ore
High-Purity Iron Ore Structural Deficit Looming For High-Purity (DR Grade) Iron Ore DR-Grade Iron Ore Supply / Demand Balance by 2031 DR Iron Ore Demand 303 Mt Demand Supply Brazil 21 Altius well positioned to benefit through its high-purity, Sweden 7 Labrador Trough based iron ore royalties Canada
Slide 12: Capital Structure
Capital Structure Strong Balance Sheet, Growing Returns of Capital Capitalization Table Issued Common Shares1 46, 290,608 Basic Market Capitalization1 $1.2 billion Dividend $0.09 / quarter $600 Balance Sheet Returns of Capital $500 Dividends Share Buyback YTD $400 ARR2 $16M $13M $300 $13M $5M LIRC2
Slide 13: Disciplined, Counter-Cyclical Investment Track Record
Disciplined, Counter-Cyclical Investment Track Record Past Receipts + Consensus Discounted Future Cash Flows Relative to Purchase Price 1 1 Investment Investment $14 Investment Investment $77 Voisey’s Bay Chapada 2003 Acquisition 2016 Acquisition Returns Return $55 $13 4.9x Returns Return $91 $134 2
Slide 14: Per Share Returns Focus
Per Share Returns Focus 19.7% CAGR (Share Price + Dividends) Since IPO in 1997 Altius Share Price ($C/share) Dividend per Share ($C/share) $35.00 $30.00 $0.36 $25.00 $0.32 $0.30 $20.00 $0.22 $15.00 $0.20 $0.19 $0.19 $10.00 $0.13 $0.12 $0.11 $5.00 f $0.00 1997 2000 2003 2006 2009 2012 2015 2018 2021
Slide 15: Appendix I: Silicon Resources and Reserves
Appendix I: Silicon Resources and Reserves Mineral Reserve Proven Probable Total Mineral Reserve Gold tonnes grade tonnes grade tonnes grade 000 g/t Moz 000 g/t Moz 000 g/t Moz North Bullfrog 71.93 0.43 1.00 71.93 0.43 1.00 As reported by AngloGold Ashanti - FY 2023 Preliminary Financial Update - ww
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