Versamet Royalties Corp. · TSX:VMET
Versamet Royalties — Investor Presentation (August 2026)
20 slides from Versamet Royalties's investor presentation, August 2026
Slide 1: Rapidly growing to a new mid-tier precious metals royalty company
NASDAQ | TSX: VMET Rapidly growing to a new mid-tier precious metals royalty company INVESTOR PRESENTATION AUGUST 2026 All dollar figures in U.S. dollars unless otherwise indicated
Slide 2: Versamet Royalties – Snapshot
Versamet Royalties – Snapshot Recently listed on the NASDAQ (VMET) A NEW GOLD RAPIDLY MARQUEE ROYALTY MID-TIER GROWING SHAREHOLDERS B2GOLD 20,000 – 23,000 ~$1.0B TETHER LUNDIN FAMILY 2026F GEOs market capitalization GOLD MOUNTAINS (ZIJIN) 85% ~145% ~10% 2026F GEOs from gold & silver GEO CAGR from in
Slide 3: Capitalization & Shareholders
Capitalization & Shareholders Capitalization Shareholder Summary Analyst Coverage B2Gold Tether Shares Outstanding 108.8M Lundin Family Zijin Institutions Insiders Basic Market Capitalization $1.0B1 & Retail Institutions & Ret ~38% 28% Total Options 2.9M2 RSUs & PSUs 1.1M Cash & Marketable Securitie
Slide 4: A Cash Flow Focused Gold Portfolio
A Cash Flow Focused Gold Portfolio Asset Portfolio Today 7 acquisitions since launch in 2022 10 09 10 JUN 2022 Launched Versamet: acquired 2 royalty Gold price at time: Operating or Development Exploration $93M portfolios from Equinox and Sandstorm $1,830/oz In Construction OCT 2023 Gold price at ti
Slide 5: New Cornerstone Asset: Eskay Creek Gold Stream
New Cornerstone Asset: Eskay Creek Gold Stream Uncapped 3.52% gold stream expected to deliver ~10,000 gold ounces per year to Versamet 1 Large-Scale, Near-Term Gold Production High-Quality Deposit Located in a Leading Mining Jurisdiction Fully-Funded Operator Long Mine Life with Expansion Planned Fu
Slide 6: Strong GEO Growth Expected to Continue
Strong GEO Growth Expected to Continue GEO Production Profile 50,000 +83% 40,000 30,000 +119% 20,000 2026 +94% 20,000 10,000 +218% to +138% 23,000 2022 Actual 2023 Actual 2024 Actual 2025 Actual 2026 Guidance 2028 Forecast Revenue: $1M Revenue: $3M Revenue: $12M Revenue: $35M 97% CAGR NASDAQ / TSX:
Slide 7: Focus on Gold and Canada
Focus on Gold and Canada 2028F GEOs by Commodity Asset NAV by Jurisdiction 8% 5% Other Cu + Ni 10% 12% Namibia SILVER 17% 80% West 50% Africa GOLD 18% LatAm Over 90% Gold + Silver and 50% Canada NASDAQ / TSX: VMET Figures based on Versamet estimates versamet.com 6
Slide 8: Multi-Faceted Upcoming Portfolio Growth
Multi-Faceted Upcoming Portfolio Growth FULL YEAR RAMP UPS PRODUCTION NEW MINES PRODUCTION FROM AT NEW MINES EXPANSIONS COMING ONLINE 2025 ACQUISITIONS BLACKWATER ROSH PINAH CUIÚ CUIÚ KOLPA First gold pour in Q1 2025 Doubling annual throughput Q4 2026 startup Acquired in Q2 2025 +100% KIAKA KOLPA TO
Slide 9: Multiple Sources of Growth Opportunities
Multiple Sources of Growth Opportunities THIRD PARTY NEW MINE ACQUISITION EXPANSION ROYALTIES FINANCING FINANCING FINANCING ESKAY CREEK GREENSTONE KOLPA ROSH PINAH Acquired a gold stream on Acquired a gold stream on the Acquired a by-product copper stream Acquired a by-product silver stream Eskay Cr
Slide 10: Growing Both our Asset Portfolio & Capital Markets Profile
Growing Both our Asset Portfolio & Capital Markets Profile Asset Portfolio Capital Markets Profile • Added several new prominent institutions as shareholders $125M through Q1 2026 equity financing & Equinox secondary in July Broaden institutional • Expanded core strategic shareholders: shareholder b
Slide 11: Positioned for a Potential Re-Rate
Positioned for a Potential Re-Rate 2027F Cash Flow ($M) Market Capitalization ($B) 2027F P/CF Multiple Source: NBF research cash flow Market caps as of 5-Aug-26 $56 estimates as of 5-Aug-26 $2,767 $44 $2,026 22x 33x 20x $6.0 $6.4 19x $434 18x $338 17x 15x $1.8 10x $109 $1.0 $1.1 $67 $0.7 $0.8 $40 $2
Slide 12: Investment Highlights
Investment Highlights Diversified portfolio generating robust cash flow Predominantly gold and complemented with silver Rapid growth ➔ both from inception and upcoming Proven management team Strong strategic cornerstone shareholders Shareholder alignment ➔ meaningful insider ownership Numerous upcom
Slide 13: Contact: info@versamet.com
NASDAQ | TSX: VMET info@versamet.com versamet.com NASDAQ / TSX: VMET VERSAMET.COM 12
Slide 14: Leadership with Significant Royalty Experience
Leadership with Significant Royalty Experience A team of 8 total employees led by the former CEO of Maverix Metals Management Team Dan O’Flaherty Victoria McMillan Paul Jones Diego Airo Chris Haubrich Craig Rollins Brent Bonney Peter Winters CEO & Director CFO President EVP, Project Evaluation VP, C
Slide 15: Cash Flowing Assets
Cash Flowing Assets GREENSTONE 1.26% Gold Stream 1 KIAKA 2.7% NSR 3 BLACKWATER Canada Operated by Equinox Gold Burkina Faso Operated by West African Resources Canada ▪ Current mine life of 14 years based on ▪ 2026 guidance: 240 – 280 koz gold 4 reserves averaging 320 koz of gold per ▪ Gold productio
Slide 16: Near-Term Organic Growth
Near-Term Organic Growth CUIÚ CUIÚ TOEGA ESKAY CREEK SANTA RITA EL PILAR Brazil Burkina Faso Canada Mexico UNDERGROUND Brazil 1.5% NSR 2.7% NSR 9 3.52% Gold Stream 2.75% NSR 1% GRR Operated by Cabral Gold Operated by West African Operated by Skeena Gold & Operated by Appian Capital Operated by South
Slide 17: Large Scale Optionality
Large Scale Optionality HACKETT RIVER CONVERSE PC Silver Canada USA Canada 2% NSR – Glencore Canada 1% NSR – Roxmore Resources 1.2% NSR – Honey Badger Silver One of the largest undeveloped silver- One of the largest undeveloped gold Large scale zinc-silver project with significant rich VMS projects
Slide 18: Asset List
Asset List ASSET TERMS METAL LOCATION PROJECT OWNER Greenstone 1.26% Stream 1 Au Canada Equinox Gold Corp. Kiaka 2.7% NSR 2 Au Burkina Faso West African Resources Ltd. Rosh Pinah 90% Stream 3 Ag Namibia Appian Capital Advisory Kolpa 95.8% Stream 4 Cu Peru Endeavour Silver Corp. Santa Rita 2.75% NSR
Slide 19: Forward Looking Statements
Forward Looking Statements This presentation contains “forward-looking statements” and “forward-looking information” (collectively, “forward-looking information”) within the meaning of applicable Canadian securities legislation. All information contained in this presentation, other than statements o
Slide 20: Non-IFRS Measures; Technical and Third-Party Information
Non-IFRS Measures We have included, in this document, certain performance measures, including GEOs which is a non-IFRS measure. The presentation of such non-IFRS measure is intended to provide additional information and should not be considered in isolation or as a substitute for measures of perform
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