Altius Minerals Corporation

Good morning ladies and gentlemen and welcome to the altis q2 2026 financial results conference call at this time all lines are in a listen-only mode following the presentation we will conduct a question and answer session if at any time during this call you require immediate assistance please press star 0 for the operator This call is being recorded on Tuesday, August 11, 2026. I would now like to turn the conference over to Flora Wood, VP of Investor Relations. Please go ahead.

Thank you, Vincent. Good morning, everyone, and welcome to our Q2 2026 conference call. Our press release and interim filings came out yesterday after the close and are available on our website. This event is being webcast live and you'll be able to access a replay of the call along with the presentation slides that have been added both to the home page and the investor section of our website at altiusminerals.com Brian Dalton, CEO, and Stephanie Hussey, CFO, will speak on the call and Ernie Ortiz, VP Corp Dev and Head of Lithium, is also here as a resource for us in the Q&A. The forward-looking statement on slide two applies to everything we say both in our formal remarks and during the Q&A session. And with that, Stephanie is up first to take us through the numbers.

Thank you, Flora, and good morning, everybody. Yesterday, we reported Q2 net earnings of $8.6 million, or $0.16 per share, reflecting higher revenues and higher expenses, including cost of sales, G&A, Share Based Comp and Amortization when compared to Q2 2025. Royalty revenue of $30 million, which was a record, and adjusted EBITDA of $23 million for the second quarter reflect higher realized prices, timing of copper stream deliveries, the addition of four operating lithium royalties, as well as higher electricity royalty revenue. Operating cash flow of $14 million reflect higher royalty receipts and interest income offset by higher tax payments and working capital changes. Adjusted net earnings of 14 cents per share for the quarter was higher than Q2 2025 with the main adjusting items being foreign exchange, revaluation of derivatives, and non-recurring costs associated with the LRC acquisition. Some highlights from the quarter include an investment in ARR for our contribution of the Coles Wind acquisition a 311 megawatt construction stage project for 12.4 million US. We also acquired 15 million in other investments, including TNR Gold and Blue Moon. We received 42 million from the corporation's original investment in royalty capital funds, funds controlled by Waratah Capital. These investments were made by Altius at the time of the founding and early development of LRC. and as these funds were wound up, proceeds in either cash or Altius shares were distributed to unit investment holders. Subsequent to the quarter, Altius announced three transactions. On July the 21st, we closed a bought deal public offering of 3 million common shares at a price of $60.50 per share and received net proceeds of 174 million. On July 24th, we completed an amendment to our credit facility to upsize to $350 million from $225 million. The previous term and revolving credit facility is now replaced with a single revolver with no principal payments required. The debt balance outstanding of $87 million at the time of the close was transferred to the amended credit facility with maturity being extended from August 2028 to July 2030. The corporation completed a drawdown of $100 million on the revolver at the end of July. And finally, on July 30, the corporation completed a share purchase agreement with Northampton and Apollo, in which Aldeus increased its effective interest in GBR from 29% to 50%, while Northampton increased its interest in GBR from 22% to 50%. The transaction structure involved the acquisition by Northampton of Apollo Fund's 50% interest in GBR for total consideration of 390 million U.S., while Altius concurrently acquired Northampton's minority interest in ARR for consideration of 167 million U.S. The purchase by Altius was funded through cash on hand and debt, and going forward, we will report our 50% ownership of GBR. Following these transactions, current total liquidity available to the corporation is approximately $500 million, and this includes cash on hand, $163 million available under the amended revolver, as well as $150 million potentially available as an accordion feature, subject to certain criteria under the terms of our expanded credit facility. During the quarter, we made scheduled debt repayments of $2 million paid total cash dividends of 5.2 million and issued approximately 7,000 common shares under the dividend reinvestment plan. Yesterday, our board approved a 10% increase to our dividend or 11 cents per share to be paid to shareholders of record on August the 28th with a payment date of September the 15th. And with that, I'll turn it back to Brian.