Financial Performance - Total revenue for the three months ended September 30, 2023, was $3,514,929, representing a 10.5% increase from $3,181,574 in the same period of 2022[5]. - Royalty revenue for the nine months ended September 30, 2023, reached $9,313,168, up 53.5% from $6,088,263 in the prior year[5]. - Net income for the three months ended September 30, 2023, was $1,046,532, compared to $83,940 in the same period of 2022, indicating a significant increase[5]. - The company generated total revenues of $9,313,168 for the nine months ended September 30, 2023, representing a 45.0% increase from $6,403,347 in the prior year[62]. Assets and Equity - Total assets as of September 30, 2023, amounted to $50,720,916, an increase of 21.4% from $41,805,456 at the end of December 2022[3]. - Total equity as of September 30, 2023, was $43,133,104, up 21.8% from $35,414,448 at the end of December 2022[3]. - The company's total non-current assets increased to $38,081,447 as of September 30, 2023, compared to $35,035,209 at the end of 2022, marking an increase of approximately 5.8%[64]. - The company's working capital as of September 30, 2023, was $9,749,118, up 157% from $3,795,951 on December 31, 2022[68]. Cash Flow - Cash and cash equivalents increased to $8,459,526 as of September 30, 2023, compared to $4,174,654 at the end of December 2022, reflecting a growth of 102.5%[3]. - Net cash flows from operating activities for the nine months ended September 30, 2023, were $2,929,309, an increase from $966,106 in the same period of 2022[10]. - The company reported a net cash outflow from investing activities of $(4,351,332) for the nine months ended September 30, 2023, compared to an inflow of $1,376,402 in the same period of 2022[10]. - The company’s cash flows from financing activities showed a net inflow of $188,088 for the nine months ended September 30, 2023, compared to an outflow of $(268,351) in the same period of 2022[10]. Shareholder Returns - The company declared dividends totaling $1,562,829 during the nine months ended September 30, 2023[6]. - Total dividends declared for the nine months ended September 30, 2023, amounted to $1,562,829, with a per share dividend of $0.033[40]. - The board of directors declared a quarterly dividend of $0.011 per common share, payable on January 12, 2024, to shareholders of record as of December 29, 2023[83]. Expenses - Operating expenses for the three months ended September 30, 2023, were $1,210,962, a decrease from $1,683,196 in the same period of 2022[5]. - General and administrative expenses for the nine months ended September 30, 2023, totaled $3,989,001, an increase of 5.8% compared to $3,769,020 for the same period in 2022[54]. - The Company incurred professional fees of $533,718 for the nine months ended September 30, 2023, which is a 38.2% increase compared to $386,227 in the same period of 2022[54]. Market and Operational Insights - The company prioritized acquiring royalties on producing or near-term producing assets, with approximately 80% of its royalty and streaming assets located in Australia, Canada, and the United States[12]. - The company's royalties are subject to fluctuations in market prices of underlying commodities, which significantly affect profitability and free cash flow generation[72]. - The company does not hedge its future revenue to provide shareholders with full exposure to changes in market prices of commodities[72]. Share Capital and Stock Performance - The weighted average number of shares outstanding increased to 48,796,446 as of September 30, 2023, compared to 44,556,855 in the same period of 2022[5]. - The number of common shares outstanding increased to 48,796,446 as of September 30, 2023, from 44,758,269 at December 31, 2022[34]. - The Company reported a period-end share price of $1.99 as of September 30, 2023, down from $2.18 in the same period of 2022, reflecting a decrease of approximately 8.7%[51]. Acquisitions and Investments - Vox completed the acquisition of a portfolio of nine royalties for a total cash consideration of $4,363,285 (A$6,750,000) on September 12, 2023[26]. - On October 18, 2023, the company completed the acquisition of a pre-production gold royalty for a total cash consideration of $797,703 (A$1,250,000)[81]. - The company has committed to milestone payments totaling $11,790,424 related to royalty acquisitions, which may be settled in cash or common shares[59]. Impairments and Adjustments - The company recognized a reversal of past impairment charge of $250,000 for the British King royalty asset during the three and nine months ended September 30, 2023[27]. - The Alce royalty was fully impaired as of June 30, 2023, reducing its carrying value from $500,000 to $nil[28]. - Deferred royalty acquisitions decreased to $5,000 as of September 30, 2023, down from $118,932 at December 31, 2022[29]. Other Financial Metrics - Current tax expense for the nine months ended September 30, 2023, was $619,030, up from $287,703 in the same period of 2022, indicating a significant increase of 115.0%[65]. - The expected stock price volatility for the nine months ended September 30, 2023, was 51%, up from 36% in the same period of 2022, indicating increased market uncertainty[51]. - The fair value change of other liabilities for the nine months ended September 30, 2023, was $346,843, significantly lower than $2,142,865 reported in the same period of 2022[55]. - The fair value of financial instruments classified as Level 3 showed a decrease from $601,715 on December 31, 2022, to $98,373 as of September 30, 2023[79].

Financial Performance - Total revenue for Q2 2023 was $2,217,384, representing a 26.7% increase from $1,750,754 in Q2 2022[6] - Royalty revenue for the first half of 2023 reached $5,798,239, up 99.1% compared to $2,906,689 in the same period of 2022[6] - Gross profit for Q2 2023 was $1,831,488, a 26.8% increase from $1,444,878 in Q2 2022[6] - The company reported a net loss of $48,443 for Q2 2023, compared to a net income of $432,569 in Q2 2022[6] - Operating expenses for Q2 2023 were $2,349,226, compared to $1,476,025 in Q2 2022, reflecting a 59% increase[6] - Other income for Q2 2023 was $983,342, a decrease of 27.3% compared to $1,352,963 in Q2 2022[56] - Interest income rose significantly to $68,952 in Q2 2023, compared to $8,346 in Q2 2022, marking a 726.5% increase[56] Cash and Liquidity - Cash and cash equivalents increased to $11,278,440 as of June 30, 2023, up from $4,174,654 at the end of Q2 2022[4] - Cash and cash equivalents at the end of the period stood at $11,278,440, a substantial increase from $1,532,542 in the previous period[11] - The company had cash and cash equivalents of $11,278,440 as of June 30, 2023, up from $4,174,654 at the end of 2022, indicating improved liquidity[73] Assets and Equity - Total assets grew to $47,945,297 as of June 30, 2023, compared to $41,805,456 at the end of Q2 2022[4] - Total equity increased to $41,202,776 as of June 30, 2023, up from $35,414,448 at the end of Q2 2022[4] - As of June 30, 2023, the total equity of the company increased to $41,202,776 from $35,414,448 as of December 31, 2022, reflecting a growth of approximately 16%[85] Liabilities and Expenses - Total accounts payable and accrued liabilities decreased to $1,617,923 as of June 30, 2023, down from $1,766,131 as of December 31, 2022, representing a reduction of about 8.4%[33] - General and administrative expenses for Q2 2023 totaled $1,555,689, an increase of 17.5% from $1,323,680 in Q2 2022[55] - Salaries and benefits increased to $786,976 in Q2 2023, up 33.3% from $590,261 in Q2 2022[55] Shareholder Returns - The company declared dividends totaling $1,026,068 during the first half of 2023[8] - Dividends declared included $0.011 per common share for the quarter ending June 30, 2023, totaling $529,672 payable on July 14, 2023[38] - A quarterly dividend of $0.011 per common share was declared on August 10, 2023, payable on October 13, 2023, to shareholders of record as of September 29, 2023[88] Capital Raising and Investments - The company raised $7,260,000 through the issuance of common shares, demonstrating strong investor interest[11] - The company reported a net cash flow from financing activities of $6,062,288, compared to $139,767 in the previous period, reflecting strong capital raising efforts[11] - Cash flows used in investing activities totaled $(6,968) compared to $(4,127,051) in the previous period, indicating a shift towards more conservative investment strategies[11] Royalty and Asset Management - The company prioritized acquiring royalties on producing or near-term producing assets, with approximately 80% of its assets located in Australia, Canada, and the USA[14] - The company fully impaired the Alce royalty, reducing its carrying value by $500,000 to $nil due to the non-renewal of mining claims[29] - The company is committed to milestone payments totaling $12,036,260 related to royalty acquisitions[60] - The company entered into a royalty sale and purchase agreement on July 28, 2023, with a potential cash consideration of up to A$8,000,000, subject to certain rights being exercised[87] Share Structure - The weighted average number of shares outstanding increased to 45,592,341 in Q2 2023 from 41,585,170 in Q2 2022[6] - The number of common shares issued and outstanding increased to 48,151,956 as of June 30, 2023, compared to 44,758,269 as of December 31, 2022, indicating an increase of approximately 7.5%[34] - The company completed a public offering of 3,025,000 common shares at $2.40 per share, generating gross proceeds of $7,260,000[35] Financial Instruments and Valuation - The balance of Level 3 financial instruments decreased to $324,238 as of June 30, 2023, down from $601,715 at the end of 2022, indicating a decline of about 46%[84] - The company reported a change in valuation of financing warrants resulting in a loss of $156,696 for the period ending June 30, 2023[84] - The total liabilities related to warrants decreased to $288,520 as of June 30, 2023, down from $445,216 as of December 31, 2022[47] Taxation - Current tax expense for Q2 2023 was $(25,951), compared to a tax recovery of $57,155 in Q2 2022[69]

Financial Performance - Total revenue for the three months ended March 31, 2023, was $3,580,855, a significant increase of 143% compared to $1,471,019 for the same period in 2022[7] - Royalty revenue reached $3,580,855, while other revenue was $0, compared to $315,084 in the previous year[7] - Gross profit for Q1 2023 was $2,964,857, up from $1,164,293 in Q1 2022, reflecting a gross margin improvement[7] - Net loss for the period was $681,239, compared to a loss of $240,392 in Q1 2022, resulting in a loss per share of $0.02[7] - Revenue from Australia for the three months ended March 31, 2023, was $2,819,734, a significant increase from $741,678 in the same period of 2022, reflecting a growth of approximately 279.5%[63] Assets and Liabilities - Total current assets increased to $8,372,734 as of March 31, 2023, from $6,770,247 at the end of 2022, driven by higher accounts receivable[5] - Total assets rose to $43,236,735 as of March 31, 2023, compared to $41,805,456 at the end of 2022, indicating growth in the company's asset base[5] - Total liabilities increased to $8,284,921 as of March 31, 2023, from $6,391,008 at the end of 2022, primarily due to higher accounts payable and accrued liabilities[5] - Accounts payable and accrued liabilities rose to $2,127,960 as of March 31, 2023, compared to $1,766,131 as of December 31, 2022, an increase of 20.5%[33] - The total balance of other liabilities increased significantly to $1,893,907 as of March 31, 2023, compared to $601,715 in the previous year, marking an increase of approximately 214.5%[46] Shareholder Returns - The company declared dividends of $496,397 during the quarter, reflecting a commitment to returning value to shareholders[8] - The company declared a quarterly dividend of $0.011 per common share on March 13, 2023, totaling $496,397 payable on April 14, 2023[37] - The company declared a quarterly dividend of $0.011 per common share, payable on July 14, 2023, to shareholders of record as of June 30, 2023[81] Management and Expenses - General and administrative expenses for the three months ended March 31, 2023, totaled $1,301,245, an increase of approximately 7.3% from $1,212,998 in the same period of 2022[54] - The total remuneration for key management personnel increased to $1,318,810 in the three months ended March 31, 2023, compared to $736,114 in the same period of 2022, reflecting an increase of approximately 79.0%[56] Cash and Equivalents - Cash and cash equivalents at the end of the period were $4,166,474, slightly down from $4,174,654 at the end of 2022[11] - The company's working capital as of March 31, 2023, was $3,683,329, down from $3,795,951 at the end of 2022[69] Royalty and Asset Management - Vox Royalty Corp. is focusing on acquiring royalties on producing or near-term producing assets to enhance its portfolio[15] - Royalties receivable increased to $3,469,097 as of March 31, 2023, compared to $1,921,670 in the same period of 2022, representing an increase of 80.5%[25] - Total royalty, stream, and other interests decreased slightly to $32,740,016 as of March 31, 2023, from $32,860,568 as of December 31, 2022, a decline of 0.4%[28] - The accumulated depletion for royalty interests reached $3,450,842 as of March 31, 2023, reflecting ongoing operational costs[26] Financial Instruments and Risks - The company's royalty receivables are subject to credit risk from counterparties operating the mines in its portfolio[68] - The company does not hedge its future revenue, exposing shareholders to fluctuations in market prices of precious and base metals[72] - The company has not used any derivative instruments to mitigate interest rate risk, opting instead to invest excess cash in short-term securities[71] - A 10% increase or decrease in the value of the Canadian and Australian dollar relative to the US dollar would impact net loss and other comprehensive loss by $649,000[70] Equity and Shares - The company issued 215,769 common shares on January 24, 2023, for total consideration of $495,446, increasing the total issued and outstanding shares to 45,126,956 as of March 31, 2023[35] - The company's total equity as of March 31, 2023, was $34,951,814, compared to $35,414,448 as of December 31, 2022[80] - The company maintained 3,600,000 outstanding warrants with a weighted average exercise price of C$4.50 as of March 31, 2023[38] - The company has a maximum of 6,413,750 common shares issuable under its long-term incentive plan as of March 31, 2023[39] - The number of Performance Share Units (PSUs) outstanding at the end of the period rose to 902,540, up from 790,908 in the prior year, representing an increase of about 14.1%[51] - As of March 31, 2023, the number of outstanding Restricted Stock Units (RSUs) decreased to 462,126 from 760,770 in the same period of 2022, reflecting a reduction of approximately 39.2%[45] Other Financial Metrics - Current tax expense for the three months ended March 31, 2023, was $178,977, a decrease from $196,708 in the same period of 2022, indicating a reduction of approximately 9.2%[66] - The fair value change of other liabilities resulted in a loss of $830,924 for the three months ended March 31, 2023, compared to a gain of $282,372 in the previous year[55] - The total non-current assets as of March 31, 2023, were valued at $34,864,001, a slight decrease from $35,035,209 in the previous year[65] - The net book value of intangible assets decreased to $1,309,824 as of March 31, 2023, down from $1,355,709 as of December 31, 2022, a decline of 3.4%[32] - Deferred royalty acquisitions amounted to $114,161 as of March 31, 2023, slightly down from $118,932 as of December 31, 2022[29] - The balance of Level 3 financial instruments increased to $1,893,907 as of March 31, 2023, from $601,715 at the end of 2022[79]

Revenue Growth - Total revenue for the nine months ended September 30, 2022, was $6,403,347, representing an increase of 108.5% compared to $3,077,503 for the same period in 2021[6] - Royalty revenue for the three months ended September 30, 2022, was $3,181,574, up 160.2% from $1,223,493 in the same quarter of 2021[6] - The company generated $2,297,881 in revenue from Australia for the three months ended September 30, 2022, compared to $1,204,530 in the same period of 2021, reflecting an increase of 90.9%[82] Profit and Loss - Gross profit for the nine months ended September 30, 2022, was $5,072,178, compared to $2,479,469 for the same period in 2021, reflecting a growth of 104.0%[6] - The company reported a net income of $276,117 for the nine months ended September 30, 2022, compared to a net loss of $1,738,671 for the same period in 2021[6] - Operating expenses for the nine months ended September 30, 2022, totaled $4,611,882, compared to $4,218,140 for the same period in 2021, an increase of 9.3%[6] Assets and Equity - Total assets increased to $41,439,314 as of September 30, 2022, from $27,305,421 as of December 31, 2021, marking a growth of 51.9%[4] - Total equity rose to $35,098,110 as of September 30, 2022, compared to $20,709,675 at the end of 2021, an increase of 69.5%[4] Cash Flow - Cash and cash equivalents decreased to $3,655,305 as of September 30, 2022, from $5,064,802 as of December 31, 2021, a decline of 28.0%[4] - Net cash flows from operating activities for the period were $966,106, a decrease from $1,346,103 in the previous period[13] - Cash flows from investing activities showed a net outflow of $1,376,402, compared to an outflow of $1,021,553 in the prior period[13] - The company reported cash flows from financing activities resulting in a net outflow of $268,351, down from an outflow of $1,040,785 in the previous period[13] - The company reported a cash inflow of $2,074,157 in cash and cash equivalents during the period, contrasting with a cash outflow of $716,235 in the previous period[13] Shareholder Information - The company declared dividends amounting to $445,940 during the nine months ended September 30, 2022[8] - The company declared a quarterly dividend of $0.01 per common share, totaling $445,940 paid on November 4, 2022[52] - The company declared a quarterly dividend of $0.01 per common share, payable on January 13, 2023, to shareholders of record as of December 30, 2022[101] Royalty and Acquisitions - Approximately 80% of the company's royalty and streaming assets are located in Australia, Canada, and the United States[16] - The company is focusing on acquiring royalties on producing or near-term producing assets to enhance its portfolio[16] - The total cost of royalties as of September 30, 2022, was $32,655,048, with significant contributions from various projects in Australia and the USA[30] - Total royalty, stream, and other interests increased to $32,655,048 as of September 30, 2022, compared to $17,625,689 in the previous year, representing an increase of 85.1%[33] - The company completed the acquisition of the Limpopo royalty portfolio for an upfront consideration of $1,139,628, settled by issuing 409,500 common shares[34] - Vox Royalty Corp. recorded a total upfront consideration of $15,703,991 for the Wonmunna royalty acquisition, with royalty revenues earned of $1,208,917 from April 1, 2022, to May 25, 2022[37] - The company issued 4,350,000 common shares for the Wonmunna royalty purchase, valued at $10,470,905[50] Liabilities and Contingencies - The company recorded a liability of $161,997 for the first contingent milestone payment on the Koolyanobbing royalty, due upon achieving specific cumulative tonnage[43] - The company’s total accounts payable and accrued liabilities increased to $1,643,310 as of September 30, 2022, compared to $1,129,807 at December 31, 2021[47] - The company has additional cash payments of up to C$8,900,000 contingent on achieving production milestones at Limpopo, which have not yet been recorded[35] - The company has milestone payments related to royalty acquisitions totaling $12,127,011, with significant amounts including $6,493,033 for Limpopo and $1,943,970 for Janet Ivy[78] Stock Options and Employee Benefits - The Company granted 804,158 stock options during the nine months ended September 30, 2022, with a grant date share price of $3.09 and an expected stock price volatility of 35%[59] - As of September 30, 2022, the total number of outstanding stock options increased to 1,603,984, with a weighted average exercise price of C$3.71[58] - The Company incurred short-term employee benefits of $1,513,324 for the nine months ended September 30, 2022, compared to $1,307,084 in the same period of 2021[76] Taxation - The company reported a current tax expense of $287,703 for the nine months ended September 30, 2022, with a total income tax expense of $1,434,059 for the same period[84]

VOX ROYALTY | --- | --- | --- | --- | --- | |-----------------------------------------|-------|-------|-------|-------| | | | | | | | | | | | | | Data Driven. | | | | | | Returns Focused. INVESTOR PRESENTATION | | | | | | APRIL 2022 | | | | | | TSX-V: VOX OTCQX: VOXCF | | | | | Disclaimer This presentation shall not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be un ...

| --- | --- | --- | --- | --- | |---------------------------------------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | YALTY | | | | | | | | | | | INVESTOR PRESENTATION SEPTEMBER 2020 | | | | | | | | | | | | | | | | | | | | | | | 0 DISCLAIMER DISCLAIMER THE INFORMATION CONTAINED IN THIS DOCUMENT HAS BEEN COMPILED FROM SOURCES BELIEVED TO BE RELIABLE. VOX ROYALTY CORP. (THE "COMPANY") DOES NOT GUARANTEE THE ACCURACY OR COMPLETENESS OF SUCH INFORMATION. STATEMENTS IN THI ...