ORE.TO Valuations

Quarterly trend of key valuation metrics

Metric	Current (TTM) TTM Baseline	Q2 '26 30.06.2026	Q1 '26 31.03.2026	Q4 '25 31.12.2025
Market & Enterprise Value
Market Cap	2.15B EUR	1.51B EUR	1.57B EUR	1.06B EUR
Enterprise Value	2.15B EUR	1.51B EUR	1.64B EUR	1.08B EUR
Valuation Multiples
Trailing P/E	12.88x	12.8x	17.79x	21.65x
Forward P/E	4.32x	--	--	--
Price to Sales	3.27x	2.3x	3.28x	3.6x
Price to Book	2.63x	2.56x	2.9x	2.65x
EV/Revenue	3.27x	2.3x	3.41x	3.67x
EV/EBITDA	6.86x	5.03x	7.32x	8.2x
Price to FCF (P/FCF)	24.26x	7.15x	19.44x	--
EV/FCF	24.2x	7.17x	20.2x	--
FCF Yield	4.12%	13.98%	5.14%	-4.13%