Gold Royalty Corp. · AMEX:GROY
Gold Royalty — Q4 2024 Earnings Presentation
13 slides from Gold Royalty's earnings presentation, Mar 20, 2025
Slide 1: Fourth Quarter 2024 Results
Fourth Quarter 2024 Results March 20, 2025 goldroyalty.com / NYSE: GROY
Slide 2: Disclaimer
Disclaimer Cautionary Note Regarding Forward-Looking Statements Non-IFRS Measures We have included, in this presentation, certain performance measures that do not have standardized meanings prescribed under This presentation includes information and statements that constitute "forward-looking inform
Slide 3: Today’s Speakers
Today’s Speakers David Garofalo Andrew Gubbels Jackie Przybylowski Chairman, CEO and President Chief Financial Officer Vice President, Capital Markets goldroyalty.com / NYSE: GROY 3
Slide 4: 2024 Fourth Quarter Highlights
2024 Fourth Quarter Highlights Record Annual Revenue, Operating 2025 Guidance and Five-Year Positive Developments Across the Cash Flow, and Adjusted EBITDA Outlook Portfolio Driving Growth ▪ Q4 2024 Results: Revenue of $3.4 million and ▪ Total GEOs expected to increase to 5,700- • Inflection year fo
Slide 5: 2025 Guidance Overview
2025 Guidance Overview Asset GRC Interest Operator Guidance Discovery Silver Corp released a PEA which outlined expected gold Borden1 0.5% NSR* production of 124,000 ounces from Borden in 2025 Aura Minerals expects to produce 33,000-40,000 ounces of gold from Borborema2 2.0% NSR Borborema in 2025 wi
Slide 6: 2025 Guidance and Five-Year Outlook
2025 Guidance and Five-Year Outlook We Expect Significant Growth from Assets Already in our Portfolio Attributable Gold Equivalent Ounces (GEOs) to GROY 23,000-28,000 5,700 - 7,000 5,462 2,703 2023 2024 2025 2026 2027 2028 2029 Based upon existing assets and the publicly disclosed forecasts, expecte
Slide 7: Key Growth Assets: Production Ramp Up Expected at Vareš, Côté, and Borborema in 2025
Key Growth Assets Production Ramp Up Expected at Vareš, Côté, and Borborema in 2025 Vareš1 – 100% Copper Stream Operator: Adriatic Metals Location: Bosnia and Herzegovina • Ramp up expected to be completed during H2 2025 to achieve 800ktpa, potential to achieve 1.0Mtpa with minimal additional cost •
Slide 8: Portfolio Update
Portfolio Update 2024 Fourth Quarter - Selected Asset Developments Odyssey1 Cozamin2 Ren3 • Development activities at Odyssey remain on- • Capstone copper released 2025 guidance for • Expected to achieve an annual production rate of schedule with ongoing ramp development and shaft Cozamin - 23,000 t
Slide 9: Gold Royalty Moving Forward
Gold Royalty Moving Forward High Quality Growth Pipeline Exploration Advanced Exploration Development Cash Flowing Trenton Canyon Whistler Tuscarora Nutmeg Mountain Odyssey Vareš White Rock War Eagle Cheechoo REN NPI REN NSR Côté Gold Ducros Sill Red Lake Project Gold Rock Midway Borborema Fenelon S
Slide 10: Key Upcoming Catalysts
Key Upcoming Catalysts • Borborema – Initial production in Q1 2025; potential highway relocation approval driving mineral reserve growth • Côté Gold – Continued ramp up throughout 2025 to 36,000 tpd • Vareš – Full nameplate capacity of 0.8Mtpa expected in H2 2025 Near-term • Fenelon – Expected updat
Slide 11: Attractive Valuation
Attractive Valuation Significant Potential for Growth and Re-Rating Sector P/NAV Multiples 2.29x 2.20x 1.87x ~0.6x 1.39x 1.40x Consensus median P/NAV Compared to sector average 0.99x 0.84x ~1.3x P/NAV 0.78x 0.60x 0.61x 0.52x Vox EMX Elemental GROY Metalla Sandstorm Osisko Triple Flag Royal Gold Fran
Slide 12: Why Invest in Gold Royalty?
Why Invest in Gold Royalty? • Free Cash Flow Inflection • Recent acquisitions provide significant near-term revenue and cash flow • Development of projects within GROY portfolio provide near-term growth at no additional cost • Strengthening revenues and continuous positive FCF provide increased near
Slide 13: Contact Info
Contact Info Contact Info: Email: info@goldroyalty.com TF: +1 (833) 396-3066 1188 West Georgia Street, Suite 1830, Vancouver, British Columbia, V6E 4A2 Canada goldroyalty.com / NYSE: GROY 13