Altius Minerals sees Q4 attributable royalty revenue C$20.6M vs. C$13.5M

Base and battery metals revenue of C$23.3M for the year reflects higher realized prices and copper stream deliveries at Chapada. The fourth quarter was positively impacted by increased realized prices while copper deliveries were relatively consistent with the fourth quarter in 2024. The Corporation’s preliminary cost of sales for the Chapada copper stream, excluding any depletion, is C$6.4M and C$1.1M for the year and Q4 2025 respectively. Potash portfolio revenue during 2025 was C$18.5M, with higher realized prices offset by lower attributable production volumes. The fourth quarter attributable production volumes were impacted by certain annual maintenance shutdowns, the timing of which can vary year over year. During the fourth quarter of 2024 the Corporation received positive adjustments of C$981,000, which related to a new unitized area at one of the Nutrien mines. 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$6.3M for the year. Both the year and fourth quarter were impacted by lower equity dividends to LIORC from IOC offset by increased ownership by Altius. During the fourth quarter the Corporation acquired an additional 1.4M shares in LIORC. Electricity royalty revenue of C$13.2M for 2025 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 includes an approximate C$1M payment to Titan Solar due to a tax equity financing milestone. Interest and other revenue reflects C$6.9M of interest income during 2025 on the Corporation’s increased cash balance following receipt of proceeds from the Orogen Royalties Inc. acquisition by Triple Flag Precious Metals and the sale of the Corporation’s 1.0% NSR on the Arthur Gold Project in Nevada, both of which occurred in the third quarter of 2025.