Empress Royalty (EMPR) Corporate presentation summary

Strategic investment approach

• Focuses exclusively on gold and silver through royalties and streaming agreements, providing upfront capital for a share in future production and scalable, steady returns.

• Portfolio consists of four key, globally diversified, revenue-generating assets in Mexico, Peru, Mozambique, and South Africa.

• Investment criteria emphasize global reach, production-stage assets, strong management, and ESG priorities.

• Employs a disciplined, long-term capital allocation strategy to maximize sustainable value.

• Leverages a partnership with Endeavour Financial for deal sourcing, due diligence, and execution.

Portfolio performance and financials

• Achieved record revenue of US $17M and positive operational cash flow in 2025.

• NAV of key assets: Tahuehueto (US $51M), Sierra Antapite (US $27M), Galaxy (US $16M), Manica (US $8M).

• Revenue is projected to rise significantly with higher gold and silver prices, with potential to exceed $60M by 2028.

• Trades at ~1.0x NAV, below the peer average, indicating re-rating potential as revenues and assets scale.

• Maintains a strong capital structure with US $11.7M in cash and metals, US $2.8M in debt, and a US $20M debt facility available.

Investment model and value proposition

• Royalty and streaming agreements provide returns unimpeded by operational costs and hedge against inflation.

• Emphasizes direct, asset-secured investments with flexible structures tailored to mining partners.

• Focuses on cash-generating, advanced-stage assets to minimize risk and maximize near-term returns.

• Outperforms both gold and gold miner ETFs, with royalty index returns of +618% since 2010.

• Substantially undervalued compared to industry peers on price/NAV, price/cash flow, and price/revenue metrics.