Evolve Royalties (EVR) Corporate presentation summary

Strategic vision and business model

• Focuses on building a leading royalty company with exposure to copper and other strategic metals, leveraging a proven royalty and streaming model to secure premium assets for the low-carbon and digital economy.

• Portfolio is anchored by high-quality royalties on major Canadian copper mines and diversified with assets in Argentina and Namibia.

• Targets a portfolio mix of 75% copper and 25% other strategic metals, including lithium and tin.

• Business model emphasizes cash flow growth, embedded deposit growth, and strong ESG standards.

Key portfolio assets and transactions

• Holds royalties on 14 assets, including two producing copper mines (Highland Valley Copper, Copper Mountain), one near-term producer (Mcllvenna Bay), and a development-stage lithium project (Sal de Los Angeles).

• Acquired a cash-flowing sliding-scale royalty on the Uis Tin Mine in Namibia for US$32.5 million, providing annual cash flow of US$4–4.5 million at current tin prices.

• Uis Tin Mine is a long-life, large-scale operation with over 40 years of mine life and significant exploration upside.

• Highland Valley Copper mine life extended to 2046, with average annual copper production of 132kt and significant leverage to copper prices.

• Mcllvenna Bay mine in Saskatchewan is under construction, with commercial production expected mid-2026 and a 20-year mine life.

Royalty structures and terms

• Uis Tin royalty is a sliding-scale gross revenue royalty, ranging from 9.63% to 0.86% based on production milestones, and covers all tin products from Mining License ML-134.

• Highland Valley Copper royalty is a 0.51% net profits interest, providing exposure to Canada’s largest copper mine.

• Copper Mountain royalty is a 5% NSR on copper and 2.5% NSR on gold/silver for specific pits, with first payment expected after a US$10M carveout.

• Sal de Los Angeles lithium project in Argentina is covered by a 2% NSR royalty, with phased production ramping up to 30ktpa LCE.