Cvw Sustainable Royalties Inc. · TSXV:CVW
Cvw Sustainable Royalties — Investor Presentation (November 2025)
36 slides from Cvw Sustainable Royalties's investor presentation, Nov 21, 2025
Slide 1: Creating Value from Waste
TSX-V: CVW | OTCQX: CVWFF | FSE: TMD Creating Value from Waste The Leading Platform for Diversified Clean Technology Royalty Investments I N V E S T O R P R E S E N TAT I O N NOVEMBER 2025 TSX-V: CVW | OTCQX: CVWFF | FSE: TMD 1
Slide 2: Disclaimer
Disclaimer The information provided in this presentation is provided as of November 21, 2025, for informational purposes only, is not complete, and may not contain certain material information about CVW Sustainable Royalties Inc. (“CVW Sustainable Royalties" or the "Company"), The securities describ
Slide 3: Creating a Leading Cleantech Royalty Platform
Creating a Leading Cleantech Royalty Platform Expected Opportunity in $3.3T+ Cleantech Market Growing Exponentially 1 Macro Strong Regulatory Environment Driving Innovation Tailwinds Provides the Right Timing for the Strategy Funding Gap for Capital Intensive Cleantech in the Commodity Sectors Prove
Slide 4: Corporate Profile: Capital Structure & Shareholder Breakdown
Corporate Profile CAPITAL STRUCTURE & SHAREHOLDER BREAKDOWN TSX-V: CVW | OTCQX: CVWFF | FSE: TMD November 21, 2025 Shares Outstanding 146.0M SHARE PRICE PERFORMANCE Equity Awards 12.7M Warrants 11.2M $2.00 4.0 2 Fully Diluted Shares Outstanding 169.9M 1 5 Share Price $0.83 $1.50 3.0 Cash Balance (As
Slide 5: Dual Prong Approach to Value Creation with Significant Optionality
Dual Prong Approach to Value Creation with Significant Optionality Tier 1 Royalty Opportunity on CVW Proprietary Diversified Exposure to Clean Technology Companies Technology through Royalty Structure Creating Value from Waste ("CVW ”) technology is ready -to-deploy Building a portfolio of royalty -
Slide 6: Macro Tailwinds
Macro Tailwinds TSX-V: CVW | OTCQX: CVWFF | FSE: TMD 6
Slide 7: Macro Tailwinds Behind Clean Technology Deployment
Macro Tailwinds Behind Clean Technology Deployment Macroeconomic tailwinds driving innovation, leading to an opportunity rich environment Trillions of USD Clean energy 2.0 Over 140 countries have committed to be net -zero by 2050 1 which will GLOBAL SPENDING ON THE investments transform the global e
Slide 8: Capital Flows are Increasingly Rewarding Sustainability
Capital Flows are Increasingly Rewarding Sustainability INCREASING INVESTOR FOCUS ON ESG ~US$3.3 trillion in 2024 1 $40 Significant human and financial capital $33.9 flowing to research and development Total Cleantech Market Funding Flows in 2024 $30 efforts leading to more innovation ~3% of Global
Slide 9: Cleantech Plays a Key Role in Resilient Regional Supply Chains
Cleantech innovation drives a resilient local circular economy Cleantech Plays a Key Role in Resilient and reduces reliance on foreign resources. Regional Supply Chains Resource Extraction Manufacturer Geopolitical Risk & Global Trade Residual Waste 1.0 5.0 Geopolitical risk Increased is now the top
Slide 10: Commodity Sectors are Critical for the Transition
Commodity Sectors are Critical for the Transition Hydrocarbons Metals and Materials Agriculture PROJECTED GLOBAL ENERGY MIX PROJECTED DEMAND FOR METALS & FOOD SECURITY MATERIALS 6% 200 5% 9% 56% Tons (millions) 9% 4% 5% more food 160 required to meet the 2024 56% 56% minimum needs of the 25% 25% 120
Slide 11: Royalty Strategy
Royalty Strategy TSX-V: CVW | OTCQX: CVWFF | FSE: TMD 11
Slide 12: Investment Focus Areas – Sectors
Investment Focus Areas – Sectors CVW Sustainable Royalties will focus on opportunities and projects at the intersection of clean technology and commodities 1 Underlying revenue based on production of commodity or commodity -like product • Lower emission oil and gas Technology focused on enhancing th
Slide 13: Investment Criteria
Investment Criteria CVW Sustainable Royalties targets developed markets and prioritizes opportunities based on certain characteristics Current Target Deal Sizes in the $10 -50M Range Life of Asset Commodity - Exposure like Revenue with Long - Term Alignment Opportunity Projects and to Partner on Tec
Slide 14: Investment Focus Areas – Company Stage
Investment Focus Areas – Company Stage Key Criteria to Reduce Technology Risk • Detailed technical due Commercially deployed diligence by in house Earlier stage technologies Existing technologies with technical team alongside exceeding the desired risk profile Financing Gap access to lower cost of 3
Slide 15: Why Royalties?
Why Royalties? TSX-V: CVW | OTCQX: CVWFF | FSE: TMD 15
Slide 16: Royalty Companies – Attractive for Investors
Royalty Companies – Attractive for Investors Operators versus Royalty Companies Royalty model provides investors with an efficient way to access an industry 2026E Earnings Multiple 1 thematic while providing diversification and lower risk GOLD 19.9x TRADITIONAL CLEAN MINING TECHNOLOGY AND/OR 7.6x OP
Slide 17: Effective Funding Solution for Clean Technology Companies
Effective Funding Solution for Clean Technology Companies Key Advantages for Operators Illustrative Use of Proceeds Retain Equity Upside Project / Asset Development Capital Flexible Structure and Competitive Cost of Capital Acquisition Capital Alignment and Focus on Growth Recapitalizations No Refin
Slide 18: Our Portfolio
Our Portfolio TSX-V: CVW | OTCQX: CVWFF | FSE: TMD 18
Slide 19: Northstar Clean Technologies First Commercial Facility
ASSET Northstar Clean Technologies First Commercial Facility Operations Overview 1 CALGARY, ALBERTA TRADITIONAL PRODUCTION/ LANDFILL DISPOSAL • Proprietary process for taking discarded asphalt shingles, Facility Details otherwise destined for over -crowded landfills, and extracting TONNES the liquid
Slide 20: Northstar Clean Technologies
ASSET Northstar Clean Technologies Northstar Clean Technologies Inc. is a Canadian -based clean technology company, focused on the sustainable recovery and reprocessing of asphalt shingles Developed a proprietary process to recover liquid asphalt ( bitumen ), aggregate, and fiber from waste and Pilo
Slide 21: Northstar Clean Technologies
ASSET Northstar Clean Technologies CVW Sustainable Royalties has a revenue royalty on Northstar’s next two facilities REVENUE PER COMMODITY1 • Base -case includes a single operating shift per day with the ability to double output by adding additional labour 3% Significant • Opportunity for Northstar
Slide 22: CVW Proprietary Technology
ASSET CVW Proprietary Technology Operations Overview A CVW project offers significant economic, environmental, and operational benefits1: ECONOMIC BENEFITS ENVIRONMENTAL BENEFITS OPERATIONAL BENEFITS Bitumen: ~1.9 MMbbl CO2e Emissions Eliminates Use of Tailings Ponds Abatement: ~380+ kT for Froth Tr
Slide 23: CVW Proprietary Technology
ASSET CVW Proprietary Technology CVW Sustainable Royalties has invested over $100M and 20 years to advance its CVW proprietary technology to a state of commercial readiness CVW Sustainable Royalties has multiple project development options: CVW EcoBase1 CVW EcoFlex1 CVW EcoMax1 • Development of CVW
Slide 24: CVW Proprietary Technology
ASSET CVW Proprietary Technology Asset Overview CVW FREE CASH FLOW REVENUE PER COMMODITY $314 $303 $297 $288 (100% BASIS) $264 $254 $250 • Prioritizing a CVW EcoBase 16% deployment under a joint venture structure with an oil sands mining operator to reduce upfront capital cost EcoBase 55% 29% and ri
Slide 25: CVW Proprietary Technology
ASSET CVW Proprietary Technology CVW Sustainable Royalties continues to aggressively pursue the implementation of its ready -to-deploy proprietary technology CVW Sustainable Royalties continues to build relationships with the oil sands mining operators with the goal of signing a par tne rship agreem
Slide 26: Opportunities for Growth
Opportunities for Growth TSX-V: CVW | OTCQX: CVWFF | FSE: TMD 26
Slide 27: Robust Acquisition Pipeline to Expand Royalty Portfolio
Robust Acquisition Pipeline to Expand Royalty Portfolio Opportunity pipeline with over $850M of transaction value, with another 100+ opportunities in evaluation ROYALTY PRIMARY/ APPROXIMATE OPPORTUNITY SECONDARY SECTOR FOCUS UNDERLYING COMMODITY EXPOSURE GEOGRAPHY INVESTMENT SIZE DEAL STAGE 1 Primar
Slide 28: Experienced Leadership Team
Experienced Leadership Team Opportunity to partner with proven company builders, with significant royalty and commodity experience Akshay Dubey Darren Morcombe Pierre Lassonde CEO & DIRECTOR CHAIRMAN SPECIAL ADVISOR & SHAREHOLDER 14+ years of experience originating and structuring 30+ years of inter
Slide 29: Summary
Summary Strong Macro Tailwinds Diversification • Scalable within the cleantech space, providing investors • Global cleantech funding flows in 2024 exceeded ~$3.3 exposure to multiple technologies and geographies trillion1 • Management team with technical skill set and network to • Ability to capital
Slide 30: CVW Sustainable Royalties Inc.
CVW Sustainable Royalties Inc. Suite 305, 505 – 8th Ave. SW, Calgary, Alberta, Canada T2P 1G2 Akshay Dubey Joshua Grant CHIEF EXECUTIVE OFFICER AND DIRECTOR CHIEF FINANCIAL OFFICER Tel: 403-460-8135 Tel: 403-460-8135 Akshay.Dubey@CVWroyalties.com Joshua.Grant@CVWroyalties.com www.cvwsustainableroyal
Slide 31: Appendix
Appendix TSX-V: CVW | OTCQX: CVWFF | FSE: TMD 31
Slide 32: Commodities Critical to the Green Transition
Commodities Critical to the Green Transition • Commodities required for clean energy technologies and GLOBAL MINERALS SHORTAGE FOR CLEAN ENERGY TECHNOLOGIES otherwise are expected to be in significant shortage over both the Several materials critical for the energy transition will see severe shortag
Slide 33: Reduction in Carbon Intensity of Hydrocarbons Essential to Achieve Net Zero
Reduction in Carbon Intensity of Hydrocarbons Essential to Achieve Net Zero IEA WORLD OIL OUTLOOK As of late -2025, the IEA forecasts current policies to result in oil • In 2023, the per capita oil consumption of developed nations was demand growth until 2050, with stated policies maintaining betwee
Slide 34: Agricultural Innovation and Waste Diversion Necessary to Support Humanity
Agricultural Innovation and Waste Diversion Necessary to Support Humanity As global temperatures rise and extreme weather events become more frequent, ensuring food security for a growing population is arguably the most critical challenge we face 56% more food needed to feed the Growing production o
Slide 35: Board of Directors
Board of Directors Darren Morcombe John Brussa CHAIRMAN DIRECTOR • Founder of Springtide Capital Pty. Ltd., a private investment company specializing • Chairman and Partner of Burnet, Duckworth & Palmer LLP Moss Kadey in micro-cap listed companies, venture capital and resource-oriented companies SPE
Slide 36: Management Team
Management Team Akshay Dubey Joshua Grant Kevin Moran Mathew Ullattikulam CEO AND DIRECTOR CFO AND CORPORATE SECRETARY EVP AND CHIEF TECHNOLOGY OFFICER VP, CORPORATE DEVELOPMENT • Joined CVW Sustainable Royalties Inc. • Has over 16 years of experience in • Extensive oil sands industry • Extensive ex
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