Altus Strategies : Corporate Presentation

ROYALTY INCOME

THE ROYALTY

SWEET SPOT

DISCOVERY UPSIDE

May 2022

OVERVIEW

ROYALTIES

PROJECTS

INVESTMENT CASE

APPENDICES

INVESTMENT HIGHLIGHTS

STRATEGIC OBJECTIVE: BUILD A BILLION DOLLAR MINING ROYALTY BUSINESS

Unique Platform

A portfolio of global mining royalties with an exploration focus on Africa

Strong Momentum

Transitioned into a revenue generator through landmark transactions

Management are Owners

Directors are strongly aligned currently holding ~ 13% of the equity

The Mining 'Sweet Spot'

A hybrid combining discovery upside & long term royalty income

Portfolio Diversification

33 royalties, 27 projects, 9 countries and 9 metals

Strategic Support (La Mancha)

35% holding

US$29m strategic acquisition facility

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OVERVIEW

ROYALTIES

PROJECTS

INVESTMENT CASE

APPENDICES

THE MINING ROYALTY COMPANY

Altus is an income generating mining royalty company with a diversified and precious metal focused portfolio of assets comprising 33 royalty interests and 27 project interests across nine countries and nine metals.

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27

PRODUCING ROYALTIES

PRE-PRODUCTION ROYALTIES

PROJECTS

US$6.4M 2022 ANNUAL AFTER

TAX ROYALTY INCOME*

35% CORNERSTONEINVESTOR

ROYALTY & PROJECT PARTNERS

Producing

Projects

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OVERVIEW

ROYALTIES

PROJECTS

INVESTMENT CASE

APPENDICES

BOARD & MANAGEMENT TEAM

DIRECTORS

DAVID NETHERWAY	STEVEN POULTON	MATTHEW GRAINGER	KARIM NASR	MICHAEL WINN	GERARD DE HERT	ROBERT MILROY
Non-Executive Chairman	Chief Executive	Executive Director	Non-Executive Director	Non-Executive Director	Non-Executive Director	Non-Executive Director
Mining Engineer with over 45	Mining Geologist with over	Mining Geologist with over 20	Mr Karim Nasr is the Chief	Geologist with over 37 years'	Mr De Hert serves as	Capital markets' specialist
years' experience. Chairman of	20years'	years' experience. Co-founder	Executive of La Mancha, a	experience. Co-founder and	Managing Director, Technical	with over 45 years'
Altus. Director of Canyon	experience. Co-founder of	of Altus, Ariana and former	mining investment fund with a	Chairman of EMX Royalty,	Services for La Mancha, where	experience. Former MD of
Resources, Kore. Former	Altus, Ariana, African Aura	COO of African Aura [Afferro /	portfolio of assets, including	President of Seabord, director	he oversees the technical	Eagle Drilling and founder of
director of Afcan, Afferro,	[Afferro / Avesoro] and Stellar	Avesoro].	Altus Strategies. Karim joined	of Atico. Former director of	assessment of new and	Corazon Capital. Chairman of
African Aura, Avesoro,	Diamonds		La Mancha as its Chief	Legend, Sprott, Reservoir (co	existing investments.	Milroy Capital and Director of
Crusader, Equigold, Gryphon,			Financial Officer in 2018.	founder) Revelo, Alexco and		the Energy Venture Funds III,
Kilo, Orezone and Shield.				NGEx.		IV & V.

MANAGEMENT TEAM

ALISTER HUME	SANDRA BATES	MARTIN KEYLOCK	WILL SLATER	AMILHA YOUNG	MICHAEL STARKE	DR. RICHARD BELCHER
Chief Investment Officer	General Counsel	CFO	VP Operations	Co Sec & Legal Counsel	VP Corp. Development	Sr Consultant Geologist
Experienced investment and	International lawyer with	Corporate accountant with	Geologist with over 10 years'	Qualified lawyer with over 20	Michael has over 14 years'	Geologist with over 17
business development	over 20 years' experience in	over 15 years' experience.	experience across Africa on a	years' experience in corporate	experience in the natural	years' experience in Africa and
manager with over a decade	natural resources. A Partner at	Previously with Velocys plc, a	range of commodities. He has	governance, having worked	resources industry. He was	Europe on a range of
of experience in private equity	Keystone Law, non-executive	multinational AIM listed	been involved in the	with listed and private	previously Corporate Finance	commodities. He has been
and capital markets in natural	of Adriatic Metals Plc and	renewable fuels business. A	management of	companies in the financial	Manager for SolGold plc and	involved in exploration from
resources. Previously with The	member	member of the ACCA since	reconnaissance, drilling and	services and natural resources	before that spent over 7 years	grass-roots through to
Sentient Group and KoBold	of Women in Mining UK.	2007.	resource stage exploration	sectors in Africa and the UK.	in the Metals & Mining team	resource and held
Metals.			programmes across Africa.		at Standard Bank.	management positions with
						several junior companies.
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OVERVIEW

ROYALTIES

PROJECTS

INVESTMENT CASE

APPENDICES

CAPITAL STRUCTURE

STRONG SHAREHOLDER BASE AND ALIGNED MANAGEMENT TEAM

Listing	AIM	TSX-V		OTCQX
Ticker	ALS	ALTS		ALTUF
Issued shares	117,321,678
Share options	9,100,000 (£0.7035 weighted average)
Warrants C$1.50 / 18 April 2023	5,541,388
Fully diluted shares	131,900,001
Share price	£0.53	C$0.86
Market capitalisation (undiluted)	£62 million	C$100 million
Cash balance (31 December 2021)	£6.4 million	US$8.1 million

Private

Investors,

27.28%

RIBO Trust,

0.95%

Euro Pacific

Gold Fund,

1.14%

Konwave,

2.09%

Sprott USA,

4.78%

Delphi,

5.97%

La Mancha,

35.08%

	Altus Board and
	Management,
Condire,	13.19%
9.52%

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