Altius Minerals Corporation · TSX:ALS
Altius Minerals — Investor Presentation (March 2025)
16 slides from Altius Minerals's investor presentation, Mar 20, 2025
Slide 1: Diversified, Long-Life, Natural Resource Royalties
TSX: ALS | OTCQX: ATUSF Diversified , Long-Life, Natural Resource Royalties Corporate Presentation March 20, 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: Balance, Diversity & Longevity
Balance, Diversity & Longevity “High Purity” Iron Ore 22% Base & Battery 15% 43 Weighted Average Royalty Life y 23 Operating Royalties2 NAV1 5 by Gold 18% Commodity Potash South 26% America Renewables Royalties on Projects 20% 18% in Construction3 NAV1 23 by Canada 49% Jurisdiction USA 31% Advanced
Slide 4: Organic Royalty Catalysts
Organic Royalty Catalysts Expanded Silicon Project (Gold) Kami (DR Grade Iron ore) 1.5% NSR Royalty acquired as part of a $300K Discovered by Altius project generation group exploration grubstake agreement through a $2 million exploration program – 3% GRR retained New world-class gold district disco
Slide 5: Expanded Silicon Project (ESP)
Expanded Silicon Project (ESP) Emerging as One of the World’s Largest Gold Deposits Expanded Silicon PFS underway, covering the Silicon and Merlin deposits Resources continue to grow (25% increase announced in February 2025 to now more than 16 Moz1) Mainly oxidized ore amenable to low cost heap leac
Slide 6: Silicon Gold District (1.5% NSR)
Silicon Gold District (1.5% NSR) Merlin Deposit Long Section TSX: ALS | OTCQX: ATUSF |6 Source: AGA Feb 19 2025 ‘Full Year 2024 Results’ presentation, can be found at: https://thevault.exchange/?get_group_doc=143/1739957070-YearEnd2024Presentation.pdf
Slide 7: Kami (3% GRR)
Kami (3% GRR) New Partnership Increases Momentum 2024 Prefeasibility Study envisioned 9Mt of annual production of a 67.5% Direct-Reduction quality iron ore In December, Champion partnered with Nippon Steel and Sojitz to jointly develop Kami Permitting underway The partners will proceed with a Defini
Slide 8: 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 9: Potash
Potash Global Demand Tracking Well to Long-Term Growth Trend Market Stabilized – Long-term Growth Trend Intact 129 Mt 140 Actual Global Demand Royalties cover majority of Canadian potash mines and represent 120 102 Mt LT Growth Trend (2.4% CAGR) more than 20% of global production 100 82 Mt Mines all
Slide 10: 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 older the cost of extending lives or $6.00 building new has increased significantly $4.00 Copper price has not kept pace with cost
Slide 11: Base and Battery Metals
Base and Battery Metals Copper, Nickel, Cobalt and Lithium Chapada District Contained Copper Resource & Curipamba (copper-gold) production targeted for Reserve1 (Mlbs) commencement in 2026 Chapada Reserve Chapada Measured & Indicated Sauva Measured & Indicated Depletion New Sauva discovery (copper)
Slide 12: US Electricity Royalties
US Electricity Royalties 57% Equity Interest in ARR Altius Renewable Royalties co-founded Great 2.6 GW of operating ~7.2 GW of royalties, US wind and development royalties 9 states Bay Renewables (GBR) in 2019 solar GBR became a 50:50 joint venture with Funds controlled by global PE firm Apollo Glob
Slide 13: Renewable Energy Royalties
Renewable Energy Royalties Revenue Ramp Up Revenue ($C) GBR Revenue Growth $40M $65M-$70M estimated long $30M term run rate recurring revenue at GBR based on existing investments $20M $27-32M $23.9M $10M $14.3M $9.6M $0M 2022 2023 2024 2025E ARR revenues 50% of shown TSX: ALS | OTCQX: ATUSF |13
Slide 14: Capital Structure
Capital Structure Strong Balance Sheet, Growing Returns of Capital Capitalization Table LTM Share Price Performance $30.00 Issued Common Shares1 46,288,608 $25.00 Basic Market Capitalization1 $1.17 billion $20.00 Dividend $0.09 / quarter $15.00 Balance Sheet Returns of Capital $213M Dividends Share
Slide 15: Disciplined, Counter-Cyclical Investment Track Record
Disciplined, Counter-Cyclical Investment Track Record Past Receipts + Consensus Discounted Future Cash Flows Relative to Purchase Price Investment 1 Investment $14 Investment 1 Investment $77 Voisey’s Bay Chapada 2003 Acquisition 2016 Acquisition Returns Return $55 $12 4.8x Returns Return $93 $136 2
Slide 16: Appendix I: Silicon Resources and Reserves
Appendix I: Silicon Resources and Reserves As reported by AngloGold Ashanti, Effective Dec 31 2024 Mineral Reserve1 Proven Probable Total Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Gold 000s g/t Moz 000s g/t Moz 000s g/t Moz North Bullfrog2 77.01 0.44 1.08 77.01 0.44 1.08 Notes: Rou