Gold Royalty Corp. · AMEX:GROY
Gold Royalty — Q4 2025 Earnings Presentation
12 slides from Gold Royalty's earnings presentation, Mar 19, 2026
Slide 1: Fourth Quarter and 2025 Results
Fourth Quarter and 2025 Results March 19, 2026 1
Slide 2: Disclaimer
Disclaimer Cautionary Note Regarding Forward-Looking Statements The information contained herein includes “forward-looking information” and “forward-looking statements” within the meaning of generally has limited or no ability to verify such information. Although the Company does not have any knowle
Slide 3: Today's Speakers
Today’s Speakers David Garofalo Andrew Gubbels John Griffith Jackie Przybylowski Chairman, CEO and President Chief Financial Officer Chief Development Officer Vice President, Capital Markets goldroyalty.com / NYSE: GROY 3
Slide 4: We Have Assembled a Broad, High Quality Portfolio
We Have Assembled a Broad, High Quality Portfolio Five years later: 250+ assets, peer-leading Focused on Growing NAV and Cash Flow on a Per Share Basis Dec 12, 2025: Jan 21, 2026: quality portfolio Borborema Dec 21, 2023: June 3, 2024: Pedra Branca royalty SOQUEM Vareš stream royalty Dec 19, 2023: p
Slide 5: Fourth Quarter and 2025 Highlights
Fourth Quarter and 2025 Highlights Growing Royalty and Stream Revenue, Record Positive Operating Cash Flow and Adjusted EBITDA Record Adjusted EBITDA* of $3.2 million in Q4 and $9.8 million in 2025 Record $5.2 million in Total Revenue, Land Agreement Proceeds and Interest* (1,255 GEOs*) in Q4 an
Slide 6: Pedra Branca Gold-Copper Mine
Pedra Branca Gold-Copper Mine Established Cashflowing Mine in Brazil Asset Overview BHP Carajás Assets – Including Pedra Branca: Operator Location Southeastern Pará State, Brazil 25% NSR royalty on gold Gold Royalty Interest 2% NSR royalty on copper Commodities Gold (Au) and copper (Cu) Cash flowing
Slide 7: Four Unique Pillars of Growth
Four Unique Pillars of Growth Driving Gold Royalty’s Acquisitions to Date Flexible Growth Options Allow Gold Royalty to Pivot Growth Strategy to Suit the Environment – Today This Means Prioritizing Cash Flowing Assets (While Continuing to Generate Early-Stage Royalties Internally at Low Cost) Third
Slide 8: Five-Year Outlook
Five-Year Outlook We Expect Significant Growth Over the Next Five Years Attributable Gold Equivalent Ounces to GROY Low Risk Growth: 28,000-34,000 - Low execution risk: Over 70% of our growth to 2030 comes from assets which are already permitted and built, at least to a first phase; over 90% includi
Slide 9: Sensitivity to Commodity Prices
Sensitivity to Commodity Prices 2026 Guidance (GEO) Gold Price ($/oz) $4,150 $5,150 $6,150 $4.75 7,800 – 10,300 7,400 – 9,700 7,200 – 9,300 Copper ($/lb) Price $5.75 8,200 – 10,800 7,500 – 9,300 7,400 - 9,700 $6.75 8,500 – 11,300 8,000 – 10,500 7,700 - 10,000 2026 guidance includes 684 GEOs relate
Slide 10: Peer Leading Growth
Peer Leading Growth Robust Near-, Medium-, and Long-Term Growth Relative to Peers Growth: 2026 guidance vs 2025 actual, GEO Growth: 2030 outlook vs 2025 actual, GEO VMET 119% GROY 499% GROY 62% WPM 73% VOXR 34% WPM OR 58% 30% OR 5% TFPM 28% FNV 4% FNV 13% TFPM (12%) (20%) -- 20% 40% 60% 80% 100% 120
Slide 11: Why Invest in Gold Royalty?
Why Invest in Gold Royalty? FREE CASH FLOW • Positive free cash flow first achieved in Q2/25; poised for strong growth INFLECTION • Strengthened balance sheet: Gold Royalty in a positive net cash position December 2025 • Cornerstone royalties on Tier 1, long life assets operated by premier mining co
Slide 12: Contact Info
Contact Info Email: info@goldroyalty.com Telephone: +1 (833) 396-3066 Address: 1188 West Georgia Street, Suite 1830, Vancouver, British Columbia, V6E 4A2 Canada