Altius Reports Q4 2025 and Full Year Expected Attributable Revenue(1)

The most recent news release (January 27, 2026) provides preliminary Q4 and full-year 2025 financial results alongside a definitive update on a major M&A event. Altius reported annual attributable royalty revenue of $69.7 million for 2025, a modest increase from $64.0 million in 2024. The revenue mix remains diversified: Base & Battery Metals ($23.3M), Potash ($18.5M), Iron Ore ($6.3M), and Electricity ($13.2M).

Crucially, the company confirmed the definitive agreement to acquire Lithium Royalty Corp. (LRC) for approximately $520 million (CAD). The deal offers LRC shareholders $9.50 cash or 0.24 Altius shares, with Altius providing a $20 million bridge loan to LRC in the interim. Additionally, Altius Renewable Royalties (ARR), through Great Bay Renewables, deployed or committed approximately $96 million in new investments between Q4 2025 and January 2026.

The news is material and positive as it signals the successful redeployment of the massive cash windfall received from the July 2025 sale of the Arthur Gold (Silicon) royalty.

• Strategic Pivot: The LRC acquisition adds 37 lithium royalties, including 4 in production and 12 at the advanced stage. Altius projects this acquisition alone will contribute $40-$60 million in annual royalty revenue by the end of the decade, effectively doubling current revenue levels if realized.
• Cash Flow Utilization: 2025 revenue was buoyed by $8.3 million in interest income, a direct result of holding the $375 million (CAD) in proceeds from the Arthur sale. Moving this cash into productive royalty assets like LRC improves the long-term quality of earnings compared to passive interest.
• Execution of Strategy: Management has successfully navigated a period of management transition (new CFO Stephanie Hussey) and high-level corporate renewals while executing a transformative deal that offsets the loss of the long-term Arthur Gold royalty income.

Altius Minerals is a diversified royalty company. Unlike many peers focused solely on precious metals, Altius maintains significant exposure to potash, high-purity iron ore, and renewable energy.

• Flagship/Key Assets:
• Potash: Royalties on six producing mines in Saskatchewan operated by Nutrien and Mosaic.
• Iron Ore: Indirect exposure through Labrador Iron Ore Royalty Corp (LIORC) and the 3% royalty on the development-stage Kami project.
• Renewables: A 57% interest in Altius Renewable Royalties, which owns 50% of Great Bay Renewables.
• Base Metals: A copper stream on the Chapada mine and NSR royalties on Voisey’s Bay.
• Lithium (Pending): 37 royalties via the pending LRC acquisition.