Source Rock Royalties Ltd. · TSXV:SRR
Source Rock Royalties — Investor Presentation (October 2026)
19 slides from Source Rock Royalties's investor presentation, October 2026
Slide 1: Source Rock Royalties Corporate Presentation October 2026
Source NO CAPITAL COSTS NO LIABILITIES Rock HIGH NETBACK Royalties Corporate Presentation October 2026 TSXV: SRR
Slide 2: Corporate Overview
Corporate Overview The only publicly listed pure-play junior oil and gas royalty company in Canada...positioned to accelerate growth CAPITAL STRUCTURE INSIDER OWNERSHIP » 11%+ owned by management & directors (Founder = 6%) Common Shares 46,050,868 » 20% owned by CN Rail Pension Fund » NO INSIDER SAL
Slide 3: A Strategic Approach to Oil & Gas Production
A Strategic Approach to Oil & Gas Production Passive nature of interests allows for a sustainable and scalable business No cost exposure model with exposure to upside development at no additional cost = insulation from industry inflation Top-line revenue Target key areas with little or with strong n
Slide 4: Management & Directors
Management & Directors Well-rounded capital markets and A diverse group of professionals that have an extended deal-flow team history with the business model MANAGEMENT TEAM INDEPENDENT DIRECTORS Unique on-the- Brad Docherty, LL.B., B.A. Dean Potter, P. Geo + ground industry Founder, President, C.E.
Slide 5: Source Rock Royalties History
Source Rock Royalties History Established portfolio of high netback royalty interests and a 13 year Track-record track record of executing on a balanced growth and yield business model of completing royalty acquisitions ($48 MM) » Established oil sands leasing JV for organic royalties » Acquired 50%
Slide 6: Post-IPO Acquisitions & Corporate Execution
Post-IPO Acquisitions & Corporate Execution Prudent expansion of royalty revenue, drilling exposure & undeveloped land = dividend growth CAPITAL DEPLOYED $3.5 MM – SE SASK GORR $1.6 MM – ALBERTA GORR $3.3 MM – SE SASK GORR (Multi-zone Light Oil) (Multi-zone Light Oil) (Multi-zone Light Oil) $8.0 MM
Slide 7: Balanced Growth & Yield Strategy
Balanced Growth & Yield Strategy Providing income to shareholders for 13 years while achieving revenue $25.5 MM in growth, asset diversification and upside drilling exposure dividends paid 2014 to Sept 2026 ($0.78 / share) $130 $120 $110 $100 $0.34 / share in $90 dividends paid since WTI Price $80 I
Slide 8: Dividend Sustainability
Dividend Sustainability Monthly dividend funded by current operations Funds from operations = a sustainable Assumptions: dividend * 180 boe/d (90% oil) Revenue, Net G&A, Funds from Operations & Cash Taxes (000’s) $6,000 * $0.078/share annual dividend 100% Payout Ratio1 $5,000 Minor expense increases
Slide 9: Royalty Asset Overview
Royalty Asset Overview 300,000+ gross acres of royalty lands Diversified platform of oil royalties across Saskatchewan & Alberta with well positioned royalty payors Base production and exposure to future drilling OIL SANDS REGION Portfolio of Crown mineral leases New drilling focused WEST-CENTRAL on
Slide 10: Expanding Upside Leverage
Expanding Upside Leverage Oil Sands & PNG Leasing Joint-Venture Providing Early-Stage Asset Exposure ORGANIC ROYALTY CREATION » Leveraging technical industry relationships » JV formed with 20+ yr Geological-focused partner » Leasing 15-year Crown Oil Sands & 5-year PNG Rights » Targeting active area
Slide 11: Oil & Gas Royalty Acquisition Opportunities
Oil & Gas Royalty Acquisition Opportunities Numerous paths available for growth and asset diversification ROYALTY PARTNERSHIPS » “GORR” is no longer a 4-letter word → acceptance is evident in recent transactions » Off balance sheet capital that is attached to the mineral leases (“interest in land”)
Slide 12: Investment Highlights
Investment Highlights Providing yield from a prudent cash-flow focused business that is positioned for growth » Only junior oil and gas royalty company in Canada - balanced » $25.5 million in dividends paid since inception growth & yield strategy with a 14 year track record » Highest oil royalty wei
Slide 13: Appendix: Royalty Asset Information
APPENDIX Royalty Asset Information Page 13
Slide 14: SE Sask Light Oil GORR's
SE Sask Light Oil GORR’s Light oil GORR’s in an active fairway with well-positioned operators 66 gross booked and royalty & mineral interest consolidation opportunities undeveloped drill locations1 (Dec 31/25) Key operators include Whitecap, West Lake, Surge VIEWFIELD & Saturn WEYBURN STEELMAN Frobi
Slide 15: Clearwater Heavy Oil GORR
Clearwater Heavy Oil GORR Material land position with strong base production and development upside Material expansion of royalty portfolio 55 gross booked undeveloped drill locations1 (Dec 31/25) Experienced and growing operator (Rubellite Energy) » 1.5% GORR in ~60,000 gross acres of land (1.0% af
Slide 16: Multi-zone Heavy Oil GORR
Multi-zone Heavy Oil GORR Significant land base in an area with established production One primary zone producing and multiple paths of upside potential Multiple secondary zones to be tested Larger industry players active on adjacent lands PROVOST Recent spike in area land sale activity » Operator h
Slide 17: Central Alberta & Western Sask GORR's
Central Alberta & Western Sask GORR’s Base production with development drilling and undeveloped land exposure Various GORR’s in ~100,000 gross acres of lands 18 gross booked undeveloped drill locations1 (Dec 31/25) Expansive land base = upside optionality » Primary development in the Mannville and V
Slide 18: Cautionary Statements and Advisories
Cautionary Statements and Advisories The information contained in this presentation does not purport to be all-inclusive or to contain all information that environmental matters in the jurisdictions in which the Company conducts its business and any other jurisdictions in prospective investors may r
Slide 19: Cautionary Statements and Advisories (Continued)
Cautionary Statements and Advisories (Continued) Certain statements included in this presentation may be considered “financial outlook” or “future-oriented financial In this presentation the Company uses the terms “operating netback” and “corporate netback”. “Operating information” (“FOFI”) for purp
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