What is Altius Minerals' list of private equity investments?

Our private equity investments are part of our broader junior equities portfolio, which we manage as part of our Project Generation business. As of June 30, 2026, our junior equities portfolio had a total market value of approximately $80.4 million.

Among our private equity holdings, we have disclosed the following companies:

• Centauri Minerals, a new private company in which we participated in financing during the fourth quarter of 2025
• Aurum Discovery Limited, a private company in which we invested smaller amounts during the second quarter of 2026
• Gilpas Resources Ltd., a private company in which we participated in an equity financing and created new royalty opportunities during the second quarter of 2026

Beyond these named positions, our junior equities portfolio includes numerous other public and private equity positions across exploration and development-stage companies where we hold royalty interests and/or equity stakes. Our portfolio strategy focuses on companies where we have both equity exposure and underlying royalty interests, which aligns with our Project Generation business model of originating mineral projects for developers in exchange for royalties and equity positions.

On our website, we update quarterly a subset of our public equity holdings, which does not include every holding but does include every holding where we own >10% or public equity holdings where we own a royalty. We do not disclose the size of individual positions unless we own 10% or more and are SEDI filers. Please see the current list of equity holdings on our website at https://altiusminerals.com/investor-information/junior-equities-portfolio/.