Slide 1: Investor Presentation
INVESTOR PRESENTATION October 2026 TSXV:SUM | OTCQX:SUMMF
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation (the "Presentation") contains "forward-looking information" within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this Presentation. Any statement that involves predictions, exp
Slide 3: Introducing Summit Royalties
Introducing Summit Royalties Providing high-quality precious metals exposure and long-term cash flow Experienced Cornerstone Cash-Flowing Tightly Held Structure Management and Board Assets with Access to Capital Led by an experienced team who have Exposure to producing and development All funding co
Slide 4: Capital Markets Profile
Capital Markets Profile Capital Structure Shareholder Summary1,2 Basic Shares Outstanding (M) 103.0 11% Mgmt. & Insiders 12% Institutional Market Capitalization (US$M) $112 42% Cash and Marketable Securities (US$M) $2 Retail & HNW Enterprise Value (US$M) $110 34% Select Institutional & Strategic Own
Slide 5: Cornerstone Assets Driving Near-Term Growth
Cornerstone Assets Driving Near-Term Growth Six cash flowing assets expected by 2027 Madsen Bomboré 1.0% NSR Royalty 50% Silver Stream, 37.5 Koz Ag Annual Minimum Operator West Red Lake Gold Mines Operator Orezone Gold Stage Production Stage Production Location Ontario, Canada Location Burkina Faso
Slide 6: Copperstone – Flagship Gold Stream
Copperstone – Flagship Gold Stream 4% gold stream with first production in mid-2027 • On May 27, 2026, Mining Americas announced the results of a PFS on the Copperstone project received Board approval to begin construction on the project with first gold anticipated in mid-2027 • Summit owns a 4% gol
Slide 7: Industry-Leading GEOs Growth
Industry-Leading GEOs Growth ~60% GEOs CAGR expected over the next three years GEOs (‘000s)1 2026-2029 GEOs CAGR Benchmarking 1 GEOs CAGR of 39% Over the Next 5 Years Summit 60% GEOs CAGR of 60% Gold Royalty 38% Over the Next 3 Years Metalla 38% Elemental 27% 5.5 4.8 4.4 4.1 Vox 2 21% 2.3 Versamet 1
Slide 8: Attractive Market Positioning
Attractive Market Positioning Significant re-rate potential Market Cap (US$M) P/NAV 1 (ratio) P/2027E CF1 (ratio) $1,237 37.6x $960 1.3x $695 $885 $695 1.1x 1.0x 17.2x 1.0x 16.4x 0.9x 14.3x 13.8x 0.8x 0.7x 12.2x 0.6x $351 8.9x $102 $112 $89 - Vox Metalla Versamet Empress PF Elemental Evolve Gold Roy
Slide 9: Balanced Pro Forma Portfolio
Balanced Pro Forma Portfolio Majority of NAV is in tier-1 jurisdictions 2026E Revenue 1 Net Asset Value1 Asset Stage Jurisdiction 6% 17% 29% 23% 39% 19% 3% 64% 68% 32% Producing Canada, US, Australia South America Commited Timeline to Production Bombore Zancudo Madsen Keysbrook Rest of World Develop
Slide 10: Focus on Producing & In-Construction Projects
Focus on Producing & In-Construction Projects Strong Correlation Between P/NAV and % of NAV in Production / Advanced Development P/NAV 1.31x 1.08x 1.36x 1.27x 1.05x 1.41x 0.67x Re-Rate 6% 4% 4% 9% 9% 10% 11% 25% 11% 30% 34% 35% 20% 10% 16% 36% % of NAV per Category 16% 38% 31% 70% 66% 70% 62% 61% 59
Slide 11: AurMac – Large Gold Resource in Canada
AurMac – Large Gold Resource in Canada Franco-Nevada recently acquired a 1% NSR royalty on AurMac for C$42.2M* AurMac – 0.5% - 2.0% NSR Royalty Coverage Mineral Reserve & Resource Estimate (May 2026) Tonnes Grade Contained (Mt) (g/t Au) (koz Au) Airstrip – Indicated 37.7 0.69 840 Powerline - Indicat
Slide 12: Asset Highlights – AurMac
Asset Highlights – AurMac Recent Drilling Recent Drilling and Gram x M Overlay Recent Drilling Results on Summit Claims – Highlight 2025 to date ▪ Airstrip drilling includes: 15.9m at 9.32g/t Au, 38.1m at 3.95g/t Au and 17.6m at 3.66g/t Au ▪ Powerline drilling on or near our coverage includes: 39.7m
Slide 13: Material Market and Portfolio Improvements
Material Market and Portfolio Improvements Summit Remains Undervalued to Peers Despite Notable Corporate and Portfolio Advancements Gold Performance Summit Performance News Peer Performance 120% 105% 90% 2 Relative Perfomance (%) 3 5 75% 6 7 8 10 4 9 60% 11 45% 12 30% 15% 0% 1 -15% Nov-25 Dec-25 Jan
Slide 14: Pro Forma Asset Portfolio
Pro Forma Asset Portfolio Scaled portfolio with visible production growth 54 Royalt y& Strea West Red Lake ming ‐ Madsen 46 Toronto Assets Royalty & Streaming Assets Newmont ‐ TSXV:SUM ‐ Saddle North Mineral Royalty Assets Mining Americas New York ‐ Copperstone ‐ OTCQX:SUMMF 4 Producing in 2026 40 2
Slide 15: Upcoming Catalysts in 2026
Upcoming Catalysts in 2026 Substantial tailwinds for key assets • PEA on AurMac showcasing the potential economics for Bomboré Hard Rock Plant Construction Progress Summit’s 1 – 2% NSR royalty on the Airstrip and Powerline deposits1 • Recent acquisition by Franco-Nevada for 1% NSR Royalty for C$42.2
Slide 16: Inaugural Credit Facility for up to US$50M
Inaugural Credit Facility for up to US$50M A key, non-dilutive source of capital for future growth By establishing its inaugural credit facility with a Tier-1 Canadian bank, Summit enters a new stage of growth: Summit can now use non-dilutive capital to acquire accretive streams and royalties 01 Imm
Slide 17: Leadership Team
Leadership Team Drew Clark, CFA Bob Doyle, B.Sc., Kevin MacLean, Connor Pugliese Kathy Lai, CPA, CA President, CEO & CPA, CA P.Eng., CFA Vice President, Vice President, Director CFO CIO Corporate Development Finance ▪ Completed over $350M of ▪ Over 40 years of experience ▪ 30 years of experience ▪ B
Slide 18: Experienced Board of Company Builders
Experienced Board of Company Builders Jerrold Annett, P.Eng. – Non-Exec. Chair Russell Mills, CFA, MFin ▪ 30 years of mining and capital markets experience, ▪ Nearly 20 years of experience advising mining most recently as Senior Vice President, Strategy & corporates, recently Managing Director, Inve
Slide 19: Appendix
Appendix Summit Royalties | Investor Presentation | 19
Slide 20: Asset Highlights – Madsen
Asset Highlights – Madsen Asset Overview Royalty Coverage Area Ownership • 100% owned by West Red Lake Location • Red Lake, Ontario, ~440 km northwest of Thunder Bay Land Package • 4,648 ha land package Royalty • 1% NSR Royalty • Produced 2.5 Moz Au at 9.7 g/t Au between 1938 and 1976 and again from
Slide 21: Asset Highlights – Bomboré
Asset Highlights – Bomboré Asset Overview Stream Coverage Area • 85% Orezone Ownership • 15% government • 50% stream on silver production with minimum guaranteed Royalty delivery of 37.5 Koz annually • Ganzourgou Province, Burkina Faso Location • ~85 km east of the capital city of Ouagadougou Land P
Slide 22: Asset Highlights – Copperstone
Asset Highlights – Copperstone Asset Overview Property Ownership • 100% owned by Mining Americas Inc. • La Paz County, Arizona, ~19 miles north of the town of Location Quartzsite Land Package • 3,574 ha land package Stream • 4% stream on gold production for LOM • Cyprus-Amoco identified the site as
Slide 23: Asset Highlights – Pitangui
Asset Highlights – Pitangui Asset Overview Royalty Coverage Area Ownership • 100% Jaguar Royalty • $80/oz for first 250 Koz of gold sold, 1.5% NSR thereafter • Sao Sebastiao deposit - ~20 km east of the Turmalina Plant Location • Minas Gerais, Brazil – 110 km NW of Bela Horizonte Land Package • 5,13
Slide 24: Asset Highlights – AurMac
Asset Highlights – AurMac Asset Overview Royalty Coverage Area Ownership • 100% Banyan Gold • Airstrip deposit: 2% NSR over 66% of the deposit, and 1% Royalty NSR over 34% of the deposit • Powerline deposit: 1% NSR over 16.92% of the deposit • Mayo mining district in Mayo, Yukon ~56 km from Whitehor
Slide 25: Asset Highlights – Zancudo
Asset Highlights – Zancudo Asset Overview Location Ownership • 100% Denarius Metals Royalty • 0.5% NSR Location • Cauca Belt, Titiribi, Colombia • 1,054 ha Asset Background • Gold / silver development property with an underground resource • Property includes the historic Independencia Mine History •
Slide 26: Royalty Portfolio Summary (1/2)
Royalty Portfolio Summary (1/2) Property Size Property Owner Location Status Royalty Details Buy-Back (Ha) Madsen West Red Lake Gold Canada 4,648 Production 1.0% No Ag stream on 50% of $7.15M for 50% Bomboré Orezone Gold Burkina Faso 12,963 Production Ag production over LOM of Ag stream Keysbrook Iw
Slide 27: Royalty Portfolio Summary (2/2)
Royalty Portfolio Summary (2/2) Property Size Property Owner Location Status Royalty Details (Ha) Knife Lake Trident Resources Canada 33,560 Advanced Exploration 1.5 - 2.5% NSR Royalty George Lake Eagle Plains Canada 6,165 Advanced Exploration 1.5 - 2.5% NSR Royalty Brownell Lake Eagle Plains Canada
Slide 28: Contact Info
CONTACT INFO Connor Pugliese; Vice President, Corporate Development connor@summit-royalties.com TSXV:SUM | OTCQX:SUMMF SummitRoyalties.com summit-royalties.com summit-royalties.com