Altius Minerals Corporation (TSX: ALS) expects to report record attributable royalty revenue of $33.2 million for the third quarter of fiscal 2026, marking a significant increase from $21.4 million in the same period last year.

The surge in revenue is primarily driven by the electricity segment, which contributed $13.2 million, alongside continued contributions from base metals and lithium royalties. The company attributes the electricity growth to increased ownership following the acquisition of Northampton’s interest in Altius Renewable Royalties and the commissioning of new portfolio projects.

Segment Performance Breakdown

The following table details the attributable royalty revenue by segment for Q3 2026 compared to prior periods:

Key Drivers by Segment

• Electricity: Revenue rose to $13.2 million, reflecting increased ownership stakes and $9.0 million in interest and investment income related to interconnection deposit financing.
• Base Metals: Revenue stood at $8.5 million. Higher realized copper prices were partially offset by timing issues with Chapada stream deliveries and scheduled maintenance at Voisey’s Bay.
• Lithium: Revenue declined to $4.2 million from $6.4 million in the previous quarter, impacted by lower production at Tres Quebradas and Grota do Cirilo mines and decreased lithium prices.
• Potash: Revenue was $4.6 million, consistent with realized prices but affected by scheduled annual maintenance at several mines.
• Iron Ore: Dividends from Labrador Iron Ore Royalty Corp. remained stable at $1.6 million, reflecting limited equity dividends as Iron Ore Company of Canada continues operational investments.

What the Numbers Show

A notable divergence exists within the electricity segment's contribution. Of the total $13.2 million reported for electricity royalties, $9.0 million is derived from interest and investment income related to financing interconnection deposits. This indicates that approximately 68% of the electricity segment's revenue in this quarter was non-royalty income, suggesting that the underlying royalty cash flow from energy projects is currently smaller than the financial yield generated from project development capital.

Upcoming Financial Disclosure

Full financial results, including adjusted EBITDA and detailed asset-level developments, will be released on November 10, 2026. A conference call is scheduled for November 11, 2026, at 9:00 am ET.

Altius Minerals Corporation (TSX: ALS) (OTCQX: ATUSF) has renewed its Normal Course Issuer Bid (NCIB) to repurchase up to 587,482 common shares through the Toronto Stock Exchange or Canadian alternative trading systems. The bid represents approximately 1% of the 58,748,220 shares issued and outstanding as of August 11, 2026. Subject to regulatory approval, the program will commence on August 22, 2026, and terminate no later than August 21, 2027. Any shares purchased under the bid will be cancelled and returned to treasury.

The renewal follows the conclusion of the previous NCIB, which began on August 22, 2025, and is set to end on August 21, 2026. As of August 17, 2026, Altius had acquired 249,800 shares under the prior bid at a weighted average price of $42.30 per share. The earlier program allowed for the purchase of up to 1,864,265 shares.

Bid Parameters and Trading Limits

Under TSX rules, Altius may purchase a daily maximum of 65,157 shares under the new NCIB. This limit corresponds to approximately 25% of the average daily trading volume (ADTV) of 260,629 shares recorded over the six calendar months preceding the bid.

Strategic Rationale

The board of directors stated that the NCIB reflects their opinion that the value of Altius, based on anticipated cash flows and underlying asset values, is periodically greater than the market price of the shares. The acquisition of shares is viewed as an appropriate use of funds. Altius has maintained an active NCIB program annually since 2010.

About Altius

Altius focuses on creating per-share growth through a diversified portfolio of royalty assets linked to long-life, high-margin operations. The company’s strategy aligns with global growth trends, including increasing electricity-based energy usage, infrastructure development, electric arc furnace (EAF) steelmaking, agricultural fertilizer demand, and precious metals ownership. These trends support demand for commodities such as potash, high-purity iron ore, electricity, base metals, and gold. Additionally, Altius operates a Project Generation business that originates mineral projects for sale to developers in exchange for royalties.