Elemental Royalty (ELE) Corporate presentation summary

Investment highlights

• Forecast FY2026 revenue of $85 million and gold equivalent ounces (GEOS) guidance of 17–21 koz, with a 2030 outlook exceeding 35 koz.

• Portfolio is gold-focused, globally diversified, and provides direct exposure to commodity prices.

• Disciplined capital allocation includes a 5% NCIB and annualized dividend of $0.12/share.

• Upsized $200 million credit facility, dual Nasdaq and TSX listings, and increased analyst coverage.

• Major shareholder Tether International holds 32%, supporting long-term capital strategy.

Portfolio overview and key assets

• 73% of portfolio is cash-generating, with 67% weighted to precious metals and global diversification.

• Over 250 royalties, including producing, development, and exploration assets across five continents.

• Cornerstone royalties include Timok (Serbia), Caserones (Chile), Karlawinda and Laverton (Australia), each with significant mine life and expansion catalysts.

• Announced acquisition of Vizsla Royalties, adding a tier-1 silver-gold asset in Mexico with first production targeted for H2 2027.

• Enhanced copper exposure through Chapi Copper Project in Peru, targeting expansion to 30ktpa.

Growth outlook and financial performance

• Annual GEOS sales projected to grow from 14.3 koz in 2025 to over 35 koz by 2030, with revenue potentially reaching $157.8 million.

• Key growth drivers include new production from Timok Lower Zone, Laverton, Karlawinda expansion, and Vizsla Royalties.

• Management has a strong track record of sourcing high-return transactions, with several investments achieving over 100% recovery.

• Valuation metrics show a compelling position relative to peers, with lower P/NAV and P/Revenue multiples.