Altius Reports Q1 2026 Expected Attributable Revenue(1)
Altius Minerals Corporation TSX: ALS | OTCQX: ATUSF
April 21, 2026 | St. John’s, Newfoundland
Altius Reports Q1 2026 Expected Attributable Revenue(1)
All references in thousands of Canadian dollars, except per share amounts, unless otherwise indicated
Altius Minerals Corporation (ALS: TSX) (ATUSF: OTCQX) (“Altius” or the “Corporation”) expects to report Q1 2026
attributable royalty revenue(1) of approximately $26.4 million compared to $15.0 million in Q1 2025.
Royalty Revenue Summary
Summary of attributable royalty revenue(1) Q1 2026 Q4 2025 Q1 2025
Base metals $ 9,103 $ 4,098 $ 6,789
Potash 4,506 4,972 3,894
Lithium 5,429 94 51
Iron ore# 1,562 1,803 1,870
Electricity## 3,596 6,306 1,648
Interest and other 2,162 3,610 703
$ 26,358 $ 20,883 $ 14,955
(#) Labrador Iron Ore Royalty Corporation dividends received
(##) Effective 29% interest in renewable royalty revenue
Base metals (primarily copper) revenue of $9.1 million 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 strea m, excluding any depletion, was $2.5 million for
Q1 2026.
Potash portfolio revenue during the first quarter of $4.5 million 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 $5.4 million grew following the Corporation's acquisition of Lithium Royalty Corp. (LRC) 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$30.5 million 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 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, being negatively impacted by lower equity dividends received by LIORC from IOC.
Electricity royalty revenue of $3.6 million 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 $1 million payment to Titan Solar due to a tax equity financing milestone
as well as certain project sales (both non-recurring).
Altius Minerals Corporation TSX: ALS | OTCQX: ATUSF
Interest and other revenue reflects $2.1 million of inter est income during Q1 2026 on the Corporation's increased cash
balance.
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 comparabl e IFRS measures, is included in the non -GAAP financial measures section of our
MD&A.
First 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 May 12, 2026 after the close of market, with a conference call to follow on May 13,
2026.
Date: May 13, 2026
Time: 9:00 AM ET
Toll Free Dial-In Number: +1-800-717-1738
International Dial-In Number: +1-289-514-5100
Conference Call Title and ID: Altius Minerals Q1 2026 Financial Results, ID 92311
Webcast Link: Q1 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 sustainability-related global growth
trends including the electricity generation transition from fossil fuel to renewables, transportation electrification, reduced emissions from
steelmaking and increasing agricultural yield requirements. These macro-trends each hold the potential to cause increased demand for
many of Altius’s commodity exposures including copper, renewable based electricity, several key battery metals (lithium, nickel and
cobalt), clean iron ore, and potash. In addition, Altius runs a successful Project Generation business that originates mineral projects for
sale to developers in exchange for equity positions and royalties. Altius has 55,741,478 common shares issued and outstanding that
are listed on Canada’s Toronto Stock Exchange. It is included in each of the S&P/TSX Small Cap, the S&P/TSX Global Mining, and the
S&P/TSX Canadian Dividend Aristocrats indices.
Forward-looking information
1 Participants can join the call without operator assistance and will receive an automatic callback after entering personal det ails
Altius Minerals Corporation TSX: ALS | OTCQX: ATUSF
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 "anticip ates", "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.
For further information, please contact:
Flora Wood
Email: [email protected]
Tel: 1.877.576.2209
Direct: +1(416)346.9020
Stephanie Hussey
Email: [email protected]
Tel: 1.877.576.2209