Ms. Flora Wood reports

ALTIUS RENEWABLE ROYALTIES REPORTS Q4 2023 EXPECTED PROPORTIONATE ROYALTY REVENUE(1) OF US$1.3 MILLION, FULL YEAR OF US$5.2 MILLION

Altius Renewable Royalties Corp. expects Q4 2023 proportionate royalty revenue of $1.3-million (excluding interest income), which compares with $900,000 of proportionate royalty revenue recorded in Q4 2022. On a full-year basis, proportionate royalty revenue increased to $5.2-million from $3.7-million in 2022. All financial references are in U.S. dollars unless otherwise indicated.

These amounts reflect Altius's 50-per-cent ownership interest in Great Bay Renewables (GBR). GBR's royalty revenue of $10.4-million for 2023 compares with guidance of $11.5-million to $13.5-million, with the difference largely relating to an escrow release of $1.25-million from Titan Solar that has been delayed into Q1 2024 pending confirmation of a local transmission line upgrade.

Frank Getman, chief executive officer of GBR, commented: "GBR had a successful 2023, entering into a new $45-million developer transaction with Hexagon and securing a $247-million credit facility that provides new investment liquidity at a particularly opportune time in the renewables market cycle. Merchant pricing in ERCOT rebounded in the summer after very low prices in the first half. GBR is positioned for a strong 2024 with a diversified portfolio of cash-flowing royalties, over one gigawatt of developer-derived royalties currently under construction and significant dry powder to execute on its current pipeline of potential new royalty deals."

Q4 and year-end 2023 financial results conference call and webcast details

Financial results will be announced by press release on Wednesday, March 6, 2024, after the close of trading. A conference call and webcast will be held on Thursday, March 7, 2024, at 9 a.m. ET to provide a discussion of the business and outlook and to offer an open question-and-answer session for analysts and investors. Access details are as follows:

Date and time: Thursday, March 7, 2024, 9 a.m. ET

Toll-free dial-in number: 1-888-886-7786

International dial-in number: 1-416-764-8658

Conference call title and ID: Altius Renewable Royalties Q4 2023 financial results, ID 82295734

About Altius Renewable Royalties Corp.

Altius is a renewable energy royalty company whose business is to provide long-term, royalty-level investment capital to renewable power developers, operators and originators. Altius has 33 renewable energy royalties representing approximately 1.9 GW of renewable power on operating projects and an additional approximate six GW on projects in development phase, across several regional power pools in the United States. The corporation also expects future royalties from GBR's investments in Bluestar Energy Capital, Hodson Energy and Hexagon Energy, which are expected to increase the total development project pipeline to approximately 15 GW. The corporation combines industry expertise with innovative, partner-focused solutions to further the growth of the renewable energy sector as it fulfills its critical role in enabling the global energy transition.

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