Elemental Royalty (ELE) Corporate presentation summary

Investment highlights

• Forecast FY2026 revenue of US$90 million and 2026 gold equivalent ounces (GEOs) guidance of 17–21 koz, with a target of 30+ koz GEOs by 2030.

• Gold-focused, globally diversified royalty portfolio with direct exposure to commodity prices and best-in-class operators.

• Disciplined capital allocation, including a normal course issuer bid (NCIB) of up to 5% and an annualized dividend of US$0.12 per share.

• Major shareholder support, with 32% held by Tether International, and a management team with a strong track record.

• Near-term catalysts include development pipeline advancements and supportive shareholder base.

Portfolio overview and diversification

• 67% of portfolio weighted to precious metals and 73% of assets are cash generating.

• Portfolio includes 18 cash-flowing royalties and 28 advanced development assets, with over 250 total royalties globally.

• Geographic and development stage allocation is based on analyst consensus NAV, with exposure across North America, Australia, Africa, South America, and Europe.

Key cornerstone and producing royalties

• Major assets include uncapped royalties on Timok (Serbia, copper/gold), Caserones (Chile, copper/molybdenum), Karlawinda (Australia, gold), and Laverton (Australia, gold).

• Timok: 0.3625% NSR, 60+ year mine life, catalysts include plant expansion and new discoveries.

• Caserones: 1.304% NSR, 15+ year mine life, strong production and exploration upside.

• Karlawinda: 2% NSR, 9-year mine life, mill expansion underway to increase production by 30%.

• Laverton: 2–4% GRR, updated growth plan due Q3 2026, significant exploration and expansion potential.