ADIVERSIFIEDMININGROYALTYCOMPANY

POISEDFORGROWTH

FEBRUARY2017
FORWARDLOOKINGSTATEMENTS

This document includes certain statements that constitute forwardlooking statements and forwardlooking
information within the meaning of applicable securities laws (collectively, forwardlooking statements).
Forwardlooking statements include statements regarding Altius Minerals Corporations (Altius) intent, or the
beliefs or current expectations of Altius officers and directors. Such forwardlooking statements are typically
identified by words such as believe, anticipate, estimate, project, intend, expect, may, will, plan,
should, would, contemplate, possible, attempts, seeks and similar expressions. Forwardlooking
statements may relate to future outlook and anticipated events or results.

By their very nature, forwardlooking statements involve numerous assumptions, inherent risks and uncertainties,
both general and specific, and the risk that predictions and other forwardlooking statements will not prove to be
accurate. Do not unduly rely on forwardlooking statements, as a number of important factors, many of which are
beyond Altius control, could cause actual results to differ materially from the estimates and intentions expressed
in such forwardlooking statements.

Forwardlooking statements speak only as of the date those statements are made. Except as required by
applicable law, Altius does not assume any obligation to update, or to publicly announce the results of any change
to, any forwardlooking statement contained herein to reflect actual results, future events or developments,
changes in assumptions or changes in other factors affecting the forwardlooking statements.

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 OURBUSINESSSTRATEGY 2COMPLEMENTARYLINES

RoyaltyBusinessacquiresandmanagesaleadingportfolioof15diversifiedminingroyaltyinterests

ProjectGenerationBusinessassemblesexplorationlandsforconversionintoequityholdingsandnewroyalties

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DIVERSIFIEDMININGROYALTYFOCUS

PreciousMetals DiversifiedMining
Market Capitalizations Market Capitalizations
WhyDiversifiedMiningRoyalties? US$B US$B

Significantroyaltysegmentgrowthpotential
relativetocomparablemineoperatingsegment

Top5Miners
$78
Lesscompetitiveroyaltyenvironmentallows
$229
higherrealfinancialreturns

Typicallylongmineliveswithbrownfield
expansionpotential,enhancinglongtermroyalty
optionvalue
StreamCompanies
$30
Top5Royalty/

+24Bsince2007 Less than $3B

39%ofTop5MinerValue 0.5% ofTop5MinerValue

Note: Market Capitalization data compiled in September 2016 4

 GROWINGDIVERSIFIEDROYALTYBUSINESS
Fourteenpayingroyaltiesacquiredinthreetransactionsbetweenearly2014andearly2016

Royaltyrevenuesgrowingstrongly(January2017quarterwasanewrecord)oncyclicalrecoveryincommoditypricesand
higherroyaltyproductionvolumes.

Manyadditionalpreproductionstageroyaltiesprovidefutureoptionvaluepotential

Thecompanyhasemergedasaleadingdiversifiedminingroyaltycompany

QuarterlyRevenueHistory(000s)
DowJonesMiningIndex 16,000
14,000
12,000
10,000
8,000
6,000
4,000
2,000
Royalty / stream interest acquisition

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DIVERSIFIEDPORTFOLIO INVESTMENTGRADECOUNTERPARTIES

MINE COMMODITY

Chapada Cu

777 CuZnAu/Ag Allproductionroyaltiesin

Genesee Coal/Electricity
CanadaexceptChapada Stream
(Brazil)
Paintearth Coal/Electricity
Sheerness Coal/Electricity
Highvale Coal/Electricity Averageroyaltylifeof46years
(revenueweightedestimation
Cardinal River Steelmaking basisusingallcategoryreserves
Coal andresources)
Rocanville Potash
Cory Potash

Allan Potash

PatienceLake Potash

Esterhazy Potash

Vanscoy Potash

Voiseys Bay NiCuCo

IOC* IronOre
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*IOC royalty is held indirectly through a shareholding in Labrador Iron Ore Royalty Corporation, which is a pass-through vehicle for IOC royalty and dividend revenue
 COMMODITYANDASSETDIVERSIFICATION

RoyaltyRevenue 3rdQuarterEndedJanuary31,2017 EstimatedNAVbyMine

Ironore* Otherpotash Voisey'sBay IOC*

Potash
2% (6mines) 4% 5%
10%
12%
Other
2%
Chapada
Copper
Metcoal 26%
38% Rocanville
11%
10%

CardinalRiver
5%

Othercoal(3
mines) 777Mine
8% 10%
Thermalcoal
Zinc Sheerness Genesee
29%
8% 8% 12%
15mines
10commodities

*IOC royalty is held indirectly through a shareholding in Labrador Iron Ore Royalty Corporation, which is a pass-through vehicle for IOC royalty and dividend revenue 7
 COMMODITYPRICESENSITIVITY

Altiuss royaltyrevenueissensitiveto:

Variousmineproductionvolumes

Diversifiedmetalandbulkcommodityprices

Yearoveryearcommoditypricechanges Altiuscommoditypriceleverage
Base Price Revenue
Jan16
Jan16 Jan 17
Jan17 Change
Change Price +/10% Change
Copper $2.08 $2.65 27% Copper $2.08 $0.21 $1.6m
Zinc $0.80 $1.25 56% Zinc $1.00 $0.10 $0.4m
MetCoal $80 $175 119% MetCoal $90 $9.00 $0.25m
Potash $258 $243 6% Potash $225 $22.50 $0.6m
Ironore $45 $83 84% Thermalcoal n/a n/a noimpact

Potashroyaltyvolumesexpectedtoincreasesignificantlyinneartermwhileothermineroyaltyvolumes
generallyforecastingwithinrecentranges

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 AGROWINGPROJECTGENERATIONBUSINESS
ProjectGenerationBusinessassetsinclude:

Largebankofglobalexplorationlandsthatwasaggressivelybuiltduringminingsectordownturn

Aportfolioofpublicjuniorcompanyequitiesresultingprimarilyfromprojectvendouts

30additionalprojectscurrentlyavailableinnineworldclassjurisdictions,withmorestillbeingadded

Asaresultofthedeep2011to2016bearmarket, AllowingAltiustobuilddominantland
manycoreexplorationareasopenedforlandstaking positionsinseveraltoptierjurisdictions
2,000
GLOBALEXPLORATIONLANDBANK
(>2MHectares)

TSX Venture Index Altius Land Holdings copper

Hectares (000)

gold
1,000 nickel
zinc
uranium
iron
coal
potash

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EXPLORATION PROJECT AREAS 9
 PGBUSINESS EQUITYPORTFOLIO
ProjectGenerationequityportfolioupstronglyYTD(May1,2016 January31,2017)asaresultof:

projecttoequityconversions

strengtheningjuniorminingequitymarkets

ProjectGenerationEquityPortfolio($millions)

PROJECTVENDOUTSYTD:

WildingLakeGold AntlerGold
(ANTL:TSXV)

Telkwa Coal AllegianceCoal

(AHQ:ASX)

Vidalita Gold EmuNL

(EMU:ASX)

Irish/NLZincProjects AdventusZinc
(ADZN:TSXV)

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CAPITALSTRUCTUREANDAVAILABLELIQUIDITY

IssuedShares 43.3 million

Marketcap $550million
AnnualDividend $0.12pershare
OutstandingDebt $81million
CashandPublicEquityHoldings $92million
AvailableLiquidity(cash,unusedrevolver and
$177million
preferredshare*financingdrawdownability)

AlldollarfiguresareCanadianasatFebruary26,2017exceptcashandpublicequityholdingsasatJanuary31,2017
*SeenewsreleasedatedFebruary24,2017titledFairfaxtoMakeStrategicInvestmentinAltius.

Thank You 11