Slide 1: Creating a Copper Royalty Champion
CSE | EVR OTCQX | EVRYF CREATING A COPPER ROYALTY CHAMPION September 2026
Slide 2: Cautionary Statements
CSE | EVR 2 OTCQX | EVRYF Cautionary Statements This confidential corporate presentation (the “Presentation”) is a confidential document and is being provided to you by Evolve Strategic Element Royalties Ltd. (the “Company”) solely for your information and may not be reproduced, in whole or in part,
Slide 3: Cautionary Statements: Technical and Third-Party Information
CSE | EVR 3 OTCQX | EVRYF Cautionary Statements Technical and Third-Party Information Except where otherwise stated, the disclosure in this Presentation relating to properties and operations on the properties in respect of which the Company will acquire royalties or similar instruments or other inte
Slide 4: A Unique Way to Invest in Copper
CSE | EVR 4 OTCQX | EVRYF ▪ Portfolio of high-quality royalties on Canadian copper mines with strong ESG standards A Unique Way to ▪ An experienced team building on Invest in Copper a track record of success in the royalty sector ▪ Simple, proven business model ▪ Leverage to Copper through royalty c
Slide 5: Evolve Royalties Highlights
CSE | EVR 5 OTCQX | EVRYF Evolve Royalties Highlights US$107M Copper Focused 15 Royalties market cap 3 Producing Canadian Including 4 cash flowing (C$ 149 M) Copper Royalties royalties Experienced Supportive Major +US$75 M Management Shareholder Capital available to Track record of success Backing o
Slide 6: A Team With A Track Record in Building Royalty Companies
CSE | EVR 6 OTCQX | EVRYF A Team With A Track Record in Building Royalty Companies Nomad Royalty Case Study MAY 2020 24 MONTHS: 2020-2022 AUG. 2022 JULY 2025 INITIAL LISTING BUILD OUT EXIT: ACQUIRED BY SANDSTORM ACQUIRED BY SANDSTORM GOLD ROYAL GOLD • US$333 million Listing Price • 8 acquisitions •
Slide 7: Evolve History
CSE | EVR 7 OTCQX | EVRYF Evolve History EIA release for Sal de Los Completed LME Copper (US$/lb) Angeles Phase 1 (10ktpd) acquisition of Teck receives Teck sanctions Uis Mine royalty Acquired HVC and Copper $7.00 Mountain royalties from environmental construction of HVC Sandstorm permits for HVC Mi
Slide 8: Diversified Royalty Exposure to Canada’s Leading Copper Mines
CSE | EVR 8 OTCQX | EVRYF Diversified Royalty Exposure to Canada’s Leading Copper Mines ▪ Portfolio of high-quality royalties on Canadian copper mines ▪ Direct exposure to rising copper prices through portfolio cash-flows Target 75% Copper 25% Other Strategic Metals
Slide 9: Portfolio Overview
CSE | EVR 9 OTCQX | EVRYF Portfolio Overview Diversified portfolio of royalties in Canada, Argentina, Namibia, and the United States McIlvenna Bay Copper Royalty Hanson Highland Valley Copper Copper Royalty 15 Royalties Copper Royalty Gold Rock Gold Royalty in Total Pine Bay Copper Royalty CANADA Bi
Slide 10: Strong Operating Partnerships
CSE | EVR 10 OTCQX | EVRYF Strong Operating Partnerships Highland Valley Uis McIlvenna Bay Copper Mountain Operating Assets Market Capitalization: Market Capitalization: Market Capitalization: Market Capitalization: US$107.1 B(1) US$186 M US$11.9 B US$11.8 B Sal de Los Angeles Development Assets Mar
Slide 11: Robust Pipeline With Visibility on Cash Flow Growth
CSE | EVR 11 OTCQX | EVRYF Robust Pipeline With Visibility on Cash Flow Growth Portfolio Anchored by Major Canadian Copper Mines HIGHLAND VALLEY UIS COPPER MOUNTAIN MCILVENNA BAY LITIO ANGELES COPPER (NORTH PIT AREA) ARGENTINA Canada’s largest Newly commissioned Top 5 Canadian Canada’s newest copper
Slide 12: Cornerstone Royalty on Canada’s Largest Copper Mine
CSE | EVR 12 OTCQX | EVRYF Highland Valley Copper Cornerstone Royalty on Canada’s British Columbia, Canada Copper Largest Copper Mine OPERATOR • One of the lowest cost operations in the Americas TECK RESOURCES LTD. • Recently announced construction decision for the ROYALTY TERMS Mine Life Extension
Slide 13: Highland Valley Copper
CSE | EVR 13 OTCQX | EVRYF Highland Valley Copper Canada’s Largest Open Pit Copper Mine Operated by a Tier 1 Operator • Open pit copper mine located in south-central British Columbia • Owned and operated by Teck since 1962 • Produces both copper and molybdenum concentrates • Produced 102.4kt of Cu a
Slide 14: McIlvenna Bay Canada’s Newest Copper Mine
CSE | EVR 14 OTCQX | EVRYF McIlvenna Bay Canada’s Newest Copper Mine Saskatchewan, Canada Copper • Recently acquired by Eldorado Gold • Declared a “Nation-Building project” by Canada’s Major OPERATOR Projects Office in September 2025 ELDORADO GOLD • McIlvenna Bay mine is currently in construction, h
Slide 15: A Royalty On A Growing Deposit
CSE | EVR 15 OTCQX | EVRYF A Royalty On A Growing Deposit • Evolve’s royalty covers both the McIlvenna Bay and Tesla zones • Over 160 km of drilling since 1998, with ongoing expansion through new drilling1 • The Tesla zone, located 300m from the main resource area, was discovered in 2022 and has sin
Slide 16: A Suite of Royalties on Eldorado’s McIlvenna Bay Property Package
CSE | EVR 16 OTCQX | EVRYF A Suite of Royalties on HANSO N LAKE Eldorado’s McIlvenna Property Package BAY BALSAM • Evolve’s royalties cover the McIlvenna Bay and Tesla deposits • They also cover the regional properties surrounding the main deposit areas as well as new regional areas of interest and
Slide 17: Near Mine Prospects on Royalty Ground
CSE | EVR 17 OTCQX | EVRYF Near Mine Prospects on Royalty Ground • The current winter drilling program is focused on testing the expansion potential of two high priority historic target areas along the McIlvenna Bay – Tesla trend: the Thunder Zone and Flinty North • Thunder Zone (2% NSR Royalty) • T
Slide 18: Cash Flowing, Long-life Tin Royalty With Exploration Upside
CSE | EVR 18 OTCQX | EVRYF Uis Tin-Tantalum Mine Cash Flowing, Long-life Tin Royalty Namibia Tin-Tantalum With Exploration Upside • The Uis Tin Mine is one of the world’s largest hard-rock open pit tin deposits OPERATOR • Originally developed and operated by Iscor beginning in the late 1960s ANDRADA
Slide 19: Resources Summary
CSE | EVR 19 OTCQX | EVRYF Resources Summary Source: Andrada Mining Limited Investor Presentation Date July 2025 available at https://andradamining.com/investors/presentations
Slide 20: Copper Mountain Top 5 Canadian Copper Mine
CSE | EVR 20 OTCQX | EVRYF Copper Mountain Top 5 Canadian Copper Mine British Columbia, Canada Copper • Hudbay advancing optimization plans at the Copper OPERATOR Mountain mine, including opening up and optimizing the mine HUDBAY MINERALS ore feed to the plant and implementing plant improvement init
Slide 21: Shovel-Ready Project in The Heart of The Lithium Triangle
CSE | EVR 21 OTCQX | EVRYF Litio Angeles Argentina Shovel-Ready Project in The Heart of Salta, Argentina Lithium Brine The Lithium Triangle OPERATOR • Located in the lithium triangle in Argentina, one of the largest TIBET SUMMIT RESOURCES lithium producing regions in the world • Royalty covers 2 ope
Slide 22: Located In Mining Friendly Salta, Argentina
CSE | EVR 22 OTCQX | EVRYF Located In Mining Friendly Salta, Argentina The Heart Of The Lithium Triangle • Located in Salta, with strong permitting, political support and international mining activity • Salta ranked #1 for Investment Attractiveness in Latin America in 2023 by the Fraser Institute •
Slide 23: February 2026 Site Visit
CSE | EVR 23 OTCQX | EVRYF February 2026 Site Visit Project view Diablillos Salar Equipment for Phase 1 line 1 of 5 Production Wells Equipment Garage SESA JV Lithium Equipment for Phase 1 line Equipment for Phase 1 line Evaporation Pond
Slide 24: Copper Exploration Optionality Next to a Major Mine Build
CSE | EVR 24 OTCQX | EVRYF Sunnyside1 Copper Exploration Optionality Next Santa Cruz, Arizona Copper, Silver to a Major Mine Build OPERATOR • High-potential copper exploration project in Santa Cruz County, Arizona — BARKSDALE RESOURCES a tier-one US mining jurisdiction with established infrastructur
Slide 25: Proximity to Hermosa
CSE | EVR 25 OTCQX | EVRYF Proximity to Hermosa Sunnyside shares a property border with one of the most consequential mine builds in the United States SUNNYSIDE SOUTH32 S O U T H 3 2 H E R M O S A | A R I Z O N A 0.5% NSR Hermosa Taylor + Peake Zinc | Lead | Silver | Manganese | Copper 28 yrs Initia
Slide 26: Taylor, Peake, World’s Fair and Triple C
CSE | EVR 26 OTCQX | EVRYF Taylor, Peake, World’s Fair and Triple C
Slide 27: Triple C Drilling
CSE | EVR 27 OTCQX | EVRYF Triple C Drilling Barksdale news release dated May 4, 2026 — Sunnyside Monzonite Porphyry, first four holes of 2026 RC program H E A D L I N E I N T E R C E P T 2.75% Cu 13 holes 0.93% + 73.5 g/t Ag over 3.05m (SUN26- 001R) completed; 13,475 ft drilled as of May 1. Only 4
Slide 28: Portfolio of Early-Stage Royalties
CSE | EVR 28 OTCQX | EVRYF Portfolio of Early-Stage Royalties OBALSKI SCOTT LAKE MORGAN/COOK PINE BAY
Slide 29: Morgan/Cook Royalty
CSE | EVR 29 OTCQX | EVRYF Morgan/Cook Royalty Operator Hudbay Minerals Location Manitoba, Canada ▪ 2% NSR on the Morgan property Royalty ▪ 1% NSR on the Cook property Highlights ▪ Hudbay conducting the largest geophysics program in Hudbay’s history on the claims acquired from Rockliff Metals ▪ The
Slide 30: Scott Lake Production Payment
CSE | EVR 30 OTCQX | EVRYF Scott Lake Production Payment Operator Yorbeau Resources Location Chibougamau, Québec, Canada ▪ Advanced royalty ($35 K per annum) Royalty ▪ C$1-$4 M upon feasibility and commercial production Highlights ▪ VMS (Cu Zn Au Ag) with existing resources of 18Mt with significant
Slide 31: Pine Bay Royalty
CSE | EVR 31 OTCQX | EVRYF Pine Bay Royalty Pine Bay Project Rainbow Deposit Long Section Operator Visionary Copper & Gold Location Manitoba, Canada Royalty ▪ 1% NSR Highlights ▪ Existing high-grade resource ▪ Since the Rainbow Deposit discovery in August 2020, Callinex has drilled 71 drillholes for
Slide 32: Obalski Royalty
CSE | EVR 32 OTCQX | EVRYF Obalski Royalty Operator TomaGold Location Chibougamau, Québec, Canada ▪ 1.5% NSR on Cossette and Ramsay (Buyback 1% for C$1 M) Royalty ▪ 1.0% NSR on Obalski and Staked claims (Buyback 0.5% for C$500 K) Highlights ▪ Former High Grade Au-Cu producer ▪ Seven currently known
Slide 33: Building Momentum
CSE | EVR 33 OTCQX | EVRYF Building Momentum 2027-2029 First production from 2026 First royalty payment from HVC Mine Life Copper Mountain Extension Current First Royalty Payment from McIlvena Bay Royalty Payments from McIlvena Bay Expansion Study for Highland Valley Copper 7,000tpd Maiden resource
Slide 34: US$75M Revolving Credit Facility
CSE | EVR 34 OTCQX | EVRYF T R A N S A C T I O N U P D A T E US$75M REVOLVING CREDIT FACILITY New three-year credit facility with Bank of Montreal supports the growth strategy of the combined entity US$50M US$25M US$75M 3 YRS INITIAL COMMITMENT ACCORDION FEATURE TOTAL CAPACITY MATURITY KEY TERMS STR
Slide 35: Share Structure
CSE | EVR 35 OTCQX | EVRYF Share Structure Pro Forma Capitalization Table Shareholder Types BASIC SHARES OUTSTANDING 51.3 M OPTIONS/WARRANTS 6.0 M CASH & INVESTMENTS (C$ M)1 ~$11 M DEBT (C$ M) NIL BASIC MARKET CAP (C$)2 $149 M BASIC MARKET CAP (US$)2 $107 M (1) Includes cash, investment in publicly
Slide 36: Royalty Leadership
CSE | EVR 36 OTCQX | EVRYF Royalty Leadership Executive Team President & CEO, Director Chief Operating Officer Chief Financial Officer Accomplished senior executive with over 15 Accomplished geologist with extensive Has held a number of positions at years experience building companies and exploratio
Slide 37: Immediate and Significant Re-Rating Potential
CSE | EVR 37 OTCQX | EVRYF Immediate and Significant Re-Rating Potential Royalty Sector P/NAV Multiples Source: NBF Monthly Stream and Royalty Sector Update (August 2026)
Slide 38: A Unique Way to Invest in Copper
CSE | EVR 38 OTCQX | EVRYF ▪ Portfolio of high-quality royalties on Canadian copper mines with strong ESG standards A Unique Way to ▪ An experienced team building on Invest in Copper a track record of success in the royalty sector ▪ Simple, proven business model ▪ Leverage to Copper through royalty
Slide 39: @evolveroyalties
CSE | EVR 39 OTCQX | EVRYF @evolveroyalties www.evolveroyalties.com | jdelaplante@evolveroyalties.com | +1 514 546 1070
Slide 40: Appendix A: Uis Royalty Sliding Scale Structure
CSE | EVR 40 OTCQX | EVRYF Appendix A: Uis Royalty Sliding Scale Structure The Uis Royalty is a sliding-scale gross revenue royalty payable on all tin products produced from Mining License ML-134, covering approximately 19,700 hectares hosting numerous pegmatites with mineralization including lithiu
Slide 41: Evolve Portfolio Summary
CSE | EVR 41 OTCQX | EVRYF Evolve Portfolio Summary Key Royalties ROYALTY DESCRIPTION STATUS COUNTRY COMMODITY HIGHLAND VALLEY COPPER ▪ EFFECTIVE ~0.51% NPI PRODUCING CANADA (BC) CU, MO, AG, AU MCILVENNA BAY ▪ C$0.75/T ORE MINED CONSTRUCTION CANADA (SK) CU, ZN, AG, AU ▪ 5% NSR ON CERTAIN CLAIMS AND
Slide 42: Evolve Royalty Portfolio Summary
CSE | EVR 42 OTCQX | EVRYF Evolve Royalty Portfolio Summary Other Royalties on McIlvenna Bay Camp ROYALTY DESCRIPTION STATUS COUNTRY OPERATOR BALSAM ▪ 2% NSR1 EXPLORATION CANADA (SK) FORAN HANSON LAKE ▪ $10M + 2% NSR2 EXPLORATION CANADA (SK) FORAN BIGSTONE ▪ 2% NSR1 EXPLORATION CANADA (SK) FORAN Exp
Slide 43: Uis Royalty Agreement Summary
CSE | EVR 43 OTCQX | EVRYF Uis Royalty Agreement Summary Royalty • Sliding-scale Royalty on Gross Revenue Mining Area • The royalty covers the geographic area to which Mining Licence 134 relates • Gross Revenue means the aggregate of, in US Dollars or US Dollar Equivalent: 1. the aggregate gross amo
Slide 44: Risk Factors
CSE | EVR 44 OTCQX | EVRYF RISK FACTORS Before investing, prospective investors should carefully consider the information contained in this Presentation and the risk factors listed below. Those risk factors are those the Company currently believes to be material as of the date of this Presentation,
Slide 45: Risk Factors
CSE | EVR 45 OTCQX | EVRYF RISK FACTORS Risk related to the Company’s Business and Industry • Changes in commodity prices and the global and local demand for the energy transition elements or base metals will affect the revenues generated from the asset portfolios to be acquired by the Company and t
Slide 46: Risk Factors
CSE | EVR 46 OTCQX | EVRYF RISK FACTORS Changes in or in the interpretation of tax legislation or accounting rales could affect the profitability of the Company • The Company may be unable to repay its indebtedness and comply with its obligations under future credit facility • The Company’s operation