ELEMENTAL ALTUS ANNOUNCES Q3 RESULTS & INCREASED REVENUE GUIDANCE

Elemental Altus announced its Q3 2025 financial results and increased its full-year 2025 revenue guidance. - Q3 2025 Financials: The company reported royalty revenue of US$6.9 million, adjusted revenue of US$8.2 million, and adjusted EBITDA of US$6.2 million. Operating cash flow was strong at US$5.0 million. Attributable gold equivalent ounces (GEOs) for the quarter were 2,362. - Increased 2025 Guidance: Full-year adjusted revenue guidance was increased to US$42 million. The guidance for GEOs was stated as 12,400 ounces, which is the midpoint of the previously established range. - Guidance Assumption: The increased revenue guidance is based on a very aggressive assumption of a US$4,000/oz average gold price for Q4 2025. - Corporate Updates: The release reiterated the company's pending merger with EMX Royalty Corporation and the upcoming US$100 million cornerstone investment from Tether, which together are expected to transform Elemental Altus into an emerging mid-tier royalty company.

This news is materially positive, as it confirms strong operational performance and financial health heading into a transformational merger. However, a critical eye is required on the guidance.

Elemental Altus Royalties is a gold-focused royalty and streaming company with a global portfolio of assets. Prior to its pending merger, its key producing, cash-flowing royalties include: - An uncapped 2% NSR on the Karlawinda gold mine in Western Australia. - A 0.473% NSR on the Caserones copper mine in Chile. - A tiered 3% then 2% NSR on the Korali-Sud gold mine in Mali. - A 4.5% NSR (capped) on the Bonikro gold mine in Côte d'Ivoire. The company is in the final stages of a transformational merger with EMX Royalty Corp. to create a new mid-tier royalty company, to be named Elemental Royalty Corp. This merger will dramatically increase its scale, asset diversification, and growth pipeline.