Altius Minerals Corporation · TSX:ALS
Altius Minerals — Investor Presentation (November 2025)
25 slides from Altius Minerals's investor presentation, Nov 12, 2025
Slide 1: Corporate Presentation November 12, 2025
TSX: ALS | OTCQX: ATUSF Diversified , Long-Life, Natural Resource Royalties Corporate Presentation November 12, 2025 Potash | Clean Steel | Renewable Energy | Copper | Gold | Lithium | Nickel | Cobalt
Slide 2: Forward Looking Statements
Forward Looking Statements This document includes certain statements that constitute “forward- In particular, the forward looking statements and information looking statements” and “forward-looking information” within the contained herein relating to past, present and future commodity prices, meanin
Slide 3: Attributable Royalty Revenue by Quarter
Attributable Royalty Revenue by Quarter Revenue ($C) $30M Royalty Revenue Interest & Investment 0.6 25 0.8 20 0.7 3.4 0.9 4.7 1.1 15 1.1 1.2 1.0 0.6 25.6 0.7 0.6 22.3 10 19.8 16.9 18.1 15.3 15.6 14.3 13.5 14.2 13.7 12.8 12.1 5 0 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024
Slide 4: Balance, Diversity & Longevity
Balance, Diversity & Longevity Large Resources and Geopolitical Advantages Amplify New Build and Expansion Optionality Gold South 11% Potash Production America 26% 11 Mines & 13 Renewable 15% Altius Analyst Consensus Renewables Construction Canada 19% Consensus NAV by 2 Mine & 5 Renewable 50% NAV1 U
Slide 5: Project Generation Business
Project Generation Business Altius’s True Value Creation Differentiator TSX: ALS | OTCQX: ATUSF |5
Slide 6: Project Generation Business
Project Generation Business Royalty Creation while Profiting from Exploration In-house technical team invests in exploration to create junior equity positions and royalties (Exploration project sales or select third party investments) Profitably manage resulting Create long-term royalty portfolio of
Slide 7: Arthur Royalty Investment
Arthur Royalty Investment Value Creation Crystallized – Continuing Growth Exposure Through Retained 0.5% Royalty The Arthur Gold project (and Altius’s original 1.5% royalty) was originated in 2014 as part of a generative exploration focused grubstake agreement between Renaissance Exploration and Cal
Slide 8: Arthur Royalty Map following Arbitration
Arthur Royalty Map following Arbitration Royalty Area Base Area of Interest (box on map) = 26.8 km2 Royalty lands as agreed by arbitration panel add an additional ~168.8 km2 Conclusion of arbitration meets the conditions for the US$25M contingency payment that formed part of the US$275M purchase con
Slide 9: Potash
Potash TSX: ALS | OTCQX: ATUSF |9
Slide 10: Potash: Market Share Growth Within a Steadily Compounding Global Market
Potash Market Share Growth Within a Steadily Compounding Global Market Global Potash Demand Growth Our operator’s Saskatchewan, Canada potash mines feature unique competitive advantages (resource scale and quality, logistic 129 Mt 140 Actual Global Demand networks, geopolitical stability, cost of ca
Slide 11: Potash: Price Incentivization Required to Meet Steady Demand Growth
Potash Price Incentivization Required to Meet Steady Demand Growth Requirements $1,200 Jansen Phase 1 and 2 Greenfields Incentive Price: $1,097/tonne $1,000 $800 Jansen Phase 2 Incentive Price: $615/tonne $600 Nutrien/Mosaic Sask. Brownfields $400 Incentive Price: $390/tonne $200 $0 2005 2006 2007 2
Slide 12: Base and Battery Metals
Base and Battery Metals TSX: ALS | OTCQX: ATUSF |12
Slide 13: Global Copper Mine Supply
Global Copper Mine Supply Consistent Long-Term Growth Requirement – Beware of Demand Doomsayers! Global demand for copper has increased by ~2/3 in the past 20 years, While long-term copper demand growth has been a relative constant, the copper market experiences very volatile price cycles largely mi
Slide 14: Chapada District Contained Copper Resource & Reserve
Chapada District Contained Copper Resource & Base and Battery Metals Reserve1 (Mlbs) Significant Production Growth Ahead Chapada Reserve Chapada Measured & Indicated Sauva Measured & Indicated Depletion +2.5 Blbs Resources continue to be delineated at the new Saúva (copper) discovery within the Chap
Slide 15: High Purity (DR Grade) Iron Ore
High Purity (DR Grade) Iron Ore Labrador Trough TSX: ALS | OTCQX: ATUSF |15
Slide 16: High Purity Iron Ore
High Purity Iron Ore Positioned to Benefit From BF to DR (High-Purity) Grade Market Share Reversal Global Crude Steel Production Monthly Global Crude Steel and DRI Production (MM tonnes) (K tonnes) 2,500 ~3.4% CAGR 2,000 1,500 1,000 500 2000 2005 2010 2015 2020 2025 While steel production has been r
Slide 17: High-Purity Iron Ore: Portfolio Well Positioned
High-Purity Iron Ore Portfolio Well Positioned Altius well positioned to benefit from increasing demand for high- purity iron through its Labrador Trough based iron ore royalty interests Labrador Trough one of few regions in the world with raw ore quality amenable to producing DR quality iron ore co
Slide 18: Kami Project
Kami Project Being Advanced by a Powerful Partnership - 3% GSR Altius originated Kami through its Project Generation business and retains a 3% Gross Sales Royalty (GSR) over the project 30% The Kami royalty is expected to be Altius’s largest mine royalty by revenue once in production 51% 19% Nippon
Slide 19: Renewable Energy
Renewable Energy TSX: ALS | OTCQX: ATUSF |19
Slide 20: Key US Electricity Trends
Key US Electricity Trends 16% 15% 1% 1% Total power generation has increased by 10% over the past 25 years but is on track to grow by 15% over the next 5 years 9% 43% 2000 US 2024 US 52% 18% Electricity Mix Electricity Mix Renewables based generation has grown market share from 9% to 24% (+129%) so
Slide 21: Renewable Energy Royalties
Renewable Energy Royalties GBR Royalty Revenue Projection ($C) $65M-$70M estimated longer term GBR Revenue Growth ($C) run rate recurring revenue at GBR $40M based on existing investments $30M $20M $27 - 32M Royalty revenue continues to ramp up as projects subject to royalty within the existing deve
Slide 22: Board & Management Updates
Board & Management Updates Board of Directors Senior Management Updated Board Updated Management Fred Mifflin John Baker Independent Board Chair President 9→8 Brian Dalton Non-Independent Director Brian Dalton Chief Executive Officer Board members Jamie Strauss Independent Director 8→6 Stephanie Hus
Slide 23: Capital Allocation Opportunities
Capital Allocation Opportunities Enhanced Flexibility $541M Cash, after taxes and fees increased to C$353 million Accordion2 Total liquidity increased to more than C$540 million (including C$125 million Available available under a revolving credit facility and C$62.5 million potentially available Re
Slide 24: Capital Structure
Capital Structure Strong Balance Sheet, Growing Returns of Capital Capitalization Table 761.5k shares acquired in 2024 at an average price of $21.27 per share ($16.2 million invested) Issued Common Shares1 46,276,054 Annual dividend increased to $0.40 per share Basic Market Capitalization1 $1.80 bil
Slide 25: Further Exploration Royalty Optionality
Further Exploration Royalty Optionality Property (Jurisdiction) Primary Commodity Explorer/Developer Royalty Basis Status Telkwa Met Coal Bathurst Resources Limited 3% FOB DFS and permitting underway Michelin Base Metals Paladin Energy Ltd. 2% NSR on all minerals except uranium Exploration Stellar C
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