Altius Reports Q3 2026 Expected Record Attributable Revenue(1)

All references in thousands of Canadian dollars, except per share amounts, unless otherwise indicated

ST. JOHN’S, Newfoundland and Labrador--(BUSINESS WIRE)--Altius Minerals Corporation (ALS: TSX) (ATUSF: OTCQX) (“Altius” or the “Corporation”) expects to report Q3 2026 record attributable royalty revenue⁽¹⁾ of approximately $33.2 million compared to $21.4 million in Q3 2025.

Royalty Revenue Summary

Summary of attributable royalty revenue^(1)	Q3 2026		Q2 2026		Q3 2025
Base metals	$	8,450	$	9,425	$	7,646
Potash		4,566		5,036		5,525
Lithium		4,244		6,434		18
Iron ore^#		1,563		1,562		1,496
Electricity^##		13,238		6,066		3,327
Interest and other		1,141		1,474		3,394
	$	33,202	$	29,997	$	21,406
(#) Labrador Iron Ore Royalty Corporation dividends received
(##) Effective 29% interest in renewable royalty revenue

Base metals (primarily copper) revenue of $8.5 million for the quarter reflects higher realized prices offset by the timing of copper stream deliveries from Chapada as well as scheduled maintenance at Voisey's Bay.

The Corporation's preliminary cost of sales for the Chapada copper stream, excluding any depletion, is $2.3 million for Q3 2026.

Potash portfolio revenue during the second quarter of $4.6 million reflects consistent realized prices with volumes impacted by timing of scheduled annual maintenance at a number of potash mines.

Lithium revenue of $4.2 million reflects ongoing operational ramp ups and mining resumptions by several operators. Lithium prices decreased during the quarter and revenue was also impacted by lower production at the Tres Quebradas and Grota do Cirilo mines.

Iron ore royalty revenue in the form of dividends from Labrador Iron Ore Royalty Corp. ("LIORC"), which serves as a pass-through vehicle for royalty income and equity dividends related to the operations of Iron Ore Company of Canada ("IOC"), was $1.6 million for the quarter, and comparable to recent periods that have been characterized by limited equity dividends as IOC continues to make investments to improve operational performance.

Electricity royalty revenue of $13.2 million for the quarter reflects increased ownership for the last two months of the quarter following the acquisition of Northampton's interest in Altius Renewable Royalties, the continuing commissioning and ramp up of operational stage portfolio projects and $9.0 million in interest and investment income mostly related to the financing of interconnection deposits.

Interest and other revenue reflects $1.1 million of interest income during Q3 2026 on the Corporation's cash balances.

Non GAAP Financial Measures
	1.	Management uses the following non-GAAP financial measures: attributable revenue, attributable royalty revenue, adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA), adjusted operating cash flow and adjusted net earnings (loss). Management uses these measures to monitor the financial performance of the Corporation and its operating segments and believes these measures enable investors and analysts to compare the Corporation’s financial performance with its competitors and/or evaluate the results of its underlying business. These measures are intended to provide additional information, not to replace International Financial Reporting Standards (IFRS) measures, and do not have a standard definition under IFRS and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. As these measures do not have a standardized meaning, they may not be comparable to similar measures provided by other companies. Further information on the composition and usefulness of each non-GAAP financial measure, including reconciliation to their most directly comparable IFRS measures, is included in the non-GAAP financial measures section of our MD&A.

Third Quarter 2026 Financial Results Conference Call and Webcast Details

Additional details relating to individual royalty performances and asset level developments will be provided with the release of our financial results, which will occur on November 10, 2026 after the close of market, with a conference call to follow on November 11, 2026.

Date: November 11, 2026
Time: 9:00 AM ET

Toll Free Dial-In Number: [phone]
International Dial-In Number: [phone]
Conference Call Title and ID: Altius Minerals Q3 2026 Financial Results, ID 18238
Webcast Link: Q3 2026 Financial Results
Conference Call URL (without operator assistance)¹: Conference Call Link

About Altius

Altius’s strategy is to create per share growth through a diversified portfolio of royalty assets that relate to long life, high margin operations. This strategy further provides shareholders with exposures that are well aligned with global growth trends including increasing electricity-based market share within energy usage, global infrastructure build and refurbishment growth, increased EAF based steelmaking, steadily increasing agricultural fertilizer requirements and the enhanced appetite for financial asset diversification through precious metals ownership. These macro-trends each hold the potential to cause higher demand for many of Altius’s commodity exposures including potash, high purity iron ore, electricity, base metals, and gold. In addition, Altius runs a successful Project Generation business that originates mineral projects for sale to developers in exchange for royalties and that has a demonstrated track record of driving outsized direct returns from its overall royalty investment portfolio. Altius has 58,754,253 common shares issued and outstanding that are listed on Canada’s Toronto Stock Exchange. It is a member of the S&P/TSX Composite, the S&P/TSX Global Mining Indices, S&P/TSX Canadian Dividend Aristocrats Index and the FTSE Global Small Cap Index.

Forward-looking information

This news release contains forward‐looking information. The statements are based on reasonable assumptions and expectations of management and Altius provides no assurance that actual events will meet management's expectations. In certain cases, forward‐looking information may be identified by such terms as "anticipates", "believes", "could", "estimates", "expects", "may", "shall", "will", or "would". Although Altius believes the expectations expressed in such forward‐looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those projected. Readers should not place undue reliance on forward-looking information. Altius does not undertake to update any forward-looking information contained herein except in accordance with securities regulations.

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