Altius Minerals sees Q1 attributable royalty revenue C$26.4M vs. C$15M last year

Base metals revenue of C$9.1M for the quarter reflects higher realized copper prices and timing of copper stream deliveries from Chapada, as well as higher Voisey’s Bay revenue. The Corporation’s preliminary cost of sales for the Chapada copper stream, excluding any depletion, was C$2.5M for Q1 2026. Potash portfolio revenue during the first quarter of C$4.5M reflects higher realized prices than Q1 2025 and slightly lower prices than in Q4 2025. Attributable portfolio production volumes were consistent with Q1 2025. Lithium revenue of C$5.4M grew following the Corporation’s acquisition of Lithium Royalty Corp. on March 6, 2026. There are four operating royalties in the portfolio including the Goulamina, Grota do Cirilo, Tres Quebradas and Mariana royalties. The Finniss project is also currently in the process of restarting with first concentrate shipments expected in Q4 of this year. Subsequent to March 31 the Corporation received US$30.5M as a distribution from Waratah Capital Advisors managed Royalty Capital Funds, relating to investments made by the Corporation during the founding and early development of LRC. Iron ore royalty revenue in the form of dividends from Labrador Iron Ore Royalty, which serves as a pass-through vehicle for royalty income and equity dividends related to the operations of Iron Ore Company of Canada, was C$1.6M for the quarter, being negatively impacted by lower equity dividends received by LIORC from IOC. Electricity royalty revenue of C$3.6M for the quarter reflects the continuing ramp up of operational stage portfolio projects, income related to the financing of interconnection deposits as well as interest and other income. The Corporation’s Q4 2025 royalty revenue included an approximate C$1M payment to Titan Solar due to a tax equity financing milestone as well as certain project sales. Interest and other revenue reflects C$2.1M of interest income during Q1 2026 on the Corporation’s increased cash balance.