Elemental Royalty Corporation · TSX:ELE
Elemental Royalty — Investor Presentation (January 2026)
29 slides from Elemental Royalty's investor presentation, January 2026
Slide 1: Corporate Presentation January 2026
Corporate Presentation January 2026 ELEMENTAL ROYALTY CORP | TSXV: ELE | NASDAQ: ELE
Slide 2: Disclaimer
Disclaimer This corporate presentation is for informational purposes only and must not be used or relied upon for any other purposes. This corporate presentation is not and does not constitute an offer or invitation to subscribe for or purchase, or any solicitation of any offer to subscribe for or p
Slide 3: Investment Highlights
Elemental Royalty Corporation Investment Highlights High quality, globally diversified portfolio ~ US$1,087m Meaningful scale Market Cap1 Poised for growth Direct exposure to gold and commodity prices ~US$90m 2026E Consensus Revenue2 Supportive major shareholder ELEMENTAL ROYALTY CORP | TSXV: ELE |
Slide 4: Portfolio: exceptional organic growth
Portfolio: exceptional organic growth Strong revenue generation with visibility on continued growth Recent and Forecast Revenue Profile (US$m) Organic growth EMX (Estimate) Poised for growth Elemental (Estimate) $95 EMX (Actual) $90 $85 Elemental (Actual) Timok expansion $40 $55 $49 $95 Laverton $90
Slide 5: Globally diversified portfolio
Globally diversified portfolio SISORTA PICKLE CROW VISCARIA MACTUNG TIMOK 16 BALYA Cash Flowing LEEVILLE GEDIKTEPE CACTUS 34 KORALI-SUD Advanced MERCEDES Development BONIKRO KARLAWINDA >200 SKO Total Royalties CASERONES DIABLILLOS LAVERTON Producing BALLARAT Development 4
Slide 6: Portfolio overview
Portfolio overview Diversified Jurisdictional Exposure 45% Cash Generating 67% Precious Metals North America South America Australia Producing Developing Precious Metals Base Metals Europe Africa *Allocated by consensus NAV *Allocated by consensus NAV *Allocated by revenue ELEMENTAL ROYALTY CORP | T
Slide 7: Timok
Timok Cornerstone Royalties Uncapped 0.3625% NSR Operator Zijin Over US$17m in cumulative revenue since 2021, increasing on an annual basis Region Serbia Recent catalysts: Processing plant being expanded from 12,000tpd to 15,000tpd Commodity Copper / Gold Exploration: Mine Type Underground Discovery
Slide 8: Caserones
Caserones Cornerstone Royalties Uncapped 1.3036% NSR Operator Lundin Mining Over 120kt of copper produced per year Region Chile Over US$13.1m in average annual royalty revenue Copper, Commodity Molybdenum Recent Catalysts: in Q4 2024, exploration drilling was completed in the lower portion of the mi
Slide 9: Karlawinda
Karlawinda Cornerstone Royalties Uncapped 2.0% NSR Operator Capricorn Metals Over 110koz of gold produced per year pre-expansion Region Australia Over US$5m in average annual royalty revenue Commodity Gold Recent catalysts: 15% increase in Reserve to 1,428koz of gold in June 2024 Mine Type Open Pit
Slide 10: Laverton
Laverton Cornerstone Royalties Uncapped 2.0-4.0% GRR1 Operator Genesis Minerals Approximately 3.6Moz Au of attributable gold resource within royalty area Region Australia Recent catalysts: Genesis acquired project from Focus Minerals in June 2025 and immediately highlighted the Commodity Gold potent
Slide 11: Other producing royalties
Other producing royalties Combination creates an impressive portfolio of cash flowing and near-term production royalties Leeville Bonikro Gediktepe Korali-Sud SKO Balya Up to 3% NSR, Uncapped A$10/oz 1% GSR 4.50% NSR 2.25% NSR Milestone & A$1m Discovery 4% NSR Payments Bonus Operator Nevada Gold Min
Slide 12: Core development royalties
Core development royalties Strong pipeline of development projects with near-term production Commodity & Catalysts Catalysts Catalysts Asset Operator Jurisdiction Royalty 2025 2026 2027+ Resource drilling at Long Term Production Laverton Australia Gold 2-4% GRR* Beasley Creek Complex Outlook expecte
Slide 13: Value creating transactions – exceptional returns
Value creating transactions – exceptional returns Management history of sourcing transactions that provide exceptional returns 1 134% Investment 2 103x Investment Other investments Investment $36.9 Investment $0.2 Leeville Recovered Timok Recovered 2012 2014 Return $49.6 $55.2 Return $18.6 $214.6 In
Slide 14: Poised for growth: valuation multiple vs scale
Poised for growth Graduation Seniors to Next Tier Large Intermediates Valuation Multiple (P/NAV) Emerging Intermediates Stronger cashflows Juniors Enhanced growth profile Enlarged portfolio Strengthened Scale (Market Capitalization) balance sheet 13
Slide 15: Positioning against peers
Positioning against peers P/NAV1 (X) P/2026E Revenue 1 (US$m) 1.8x 1.7x 37.9x 1.5x 28.3x 18.6x 1.1x 1.1x 1.1x 17.3x 1.1x 12.1x 12.1x 10.5x Intermediate Peers Junior Peers Intermediate Peers Junior Peers Further value creation as cash flow continues Scope for significant value uplift to strengthen fr
Slide 16: Management team
Management team Experienced leadership team with proven track record of success Management Team Fred Bell Juan Sartori Dave Cole President & Chief Stefan Wenger David Baker Executive Chairman Chief Executive Officer Operating Officer Chief Financial Officer Chief Investment Officer • Chairman and fo
Slide 17: Capital markets profile
Capital markets profile Capital Structure1 Combined Shareholder Register Elemental Royalty Corp. Shares2 (m) 63.8 Total Institutional Ownership: 56% 1 Current Unaffected Elemental Royalty Share Price (C$/share) 23.48 Market Capitalization (US$m) 1,087 Retail 32% Cash3 (US$m) 54.9 39% Tether Gold (XA
Slide 18: Royalty generation
Royalty generation Our unique differentiator: creating long term value through technical expertise Case Study - Timok Project Generation Tier 1 Operator In house technical team Return on Investment1 (US$m) identifies and advances Advance prospective properties Royalties $233 Milestone Payments $216
Slide 19: Investment Highlights
Elemental Royalty Corporation Investment Highlights High quality, globally diversified portfolio 16 Cash Flowing Royalties Meaningful scale 34 Advanced Development Poised for growth >200 Total Royalties Direct exposure to gold and commodity prices ~US$90m 2026E Supportive major shareholder Consensus
Slide 20: Appendices
Appendices
Slide 21: Cornerstone Royalties - Timok
Cornerstone Royalties - Timok Uncapped 0.3625% NSR in Serbia Significant Additions to Resources and Reserves Large land holding at a producing copper-gold complex in the Bor mining district of Serbia Operated by Zijin Mining Corporation Current production from the high-grade epithermal-style “Upper
Slide 22: Cornerstone Royalties - Karlawinda
Cornerstone Royalties - Karlawinda Cornerstone uncapped 2% NSR on Capricorn Metals’ Flagship Mine in Western Australia Material Production Expansion Capricorn has received regulatory approval for development of the Expansion Project Targeting average annual production of 150koz, a 25% increase from
Slide 23: Cornerstone Royalties - Caserones
Cornerstone Royalties - Caserones Cornerstone uncapped 1.3036% NSR (combined) on Lundin’s Caserones Cu-Mo Mine Exploration Upside at Zero Cost Large land holding with 170km2 royalty coverage over 100% of all currently defined resources Opportunity to increase 15-year mine life significantly Primary
Slide 24: Cornerstone Royalties - Laverton
Cornerstone Royalties - Laverton Uncapped 4% GRR in Western Australia Primed for Production under new Operator Over 300km2 of royalty coverage across a major gold producing hub The full discovery and expansion potential across the package is yet to be realised, with Genesis noting immediate plans to
Slide 25: Asset List – Producing Assets
Asset List – Producing Assets 16 Cash Flowing Royalties # Project Operator Country Commodity Terms 1 Caserones Lundin Mining Chile Copper 1.3036% NSR 2 Karlawinda Capricorn Metals Australia Gold 2.0% NSR 3 Bonikro Allied Gold Côte d’Ivoire Gold 4.5% NSR (capped at 560koz production from PB5) 4 Koral
Slide 26: Asset List – Development Assets
Asset List – Development Assets 34 Advanced Stage Development Assets + Over 150 exploration stage royalties in various stages of development # Project Operator Country Commodity Terms 1 Laverton Genesis Minerals Australia Gold 2-4% GRR1 2 Cactus Arizona Sonoran USA Copper 0.54% NSR 3 Mactung Firewee
Slide 27: Asset List – Development Assets
Asset List – Development Assets 34 Advanced Stage Development Assets + Over 150 exploration stage royalties in various stages of development # Project Operator Country Commodity Terms 18 Tartan Lake Canadian Gold Corp Canada Gold 2% NSR 19 Kaukua GT Resources Finland PGE-Nickel-Copper-Gold 2% NSR 20
Slide 28: Contact
Contact Website elementalroyalty.com Email info@elementalroyalty.com Address 905 - 815 W. Hastings St., Vancouver, BC, Canada V6C 1B4
Slide 29: Disclaimer
Disclaimer Market Scientific and Technical Data Qualified Persons Investors are advised that National Instrument 43-101 Standards for disclosure for Mineral Projects (“NI 43-101”) of the Canadian Securities Elemental Altus Qualified Person Administrators requires that each category of Mineral Reserv
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