Mr. Ben Lewis reports

ALTIUS RENEWABLE ROYALTIES ANNOUNCES NEW US$30 MILLION INVESTMENT WITH APEX CLEAN ENERGY

Altius Renewable Royalties Corp.'s Great Bay Renewables has entered into a $30-million royalty investment with Apex Clean Energy, related to Apex's 195-megawatt-alternating-current (MWAC) Angelo solar project in Tom Green county in Texas, which is anticipated to achieve commercial operations in May, 2024. Great Bay is jointly controlled by Altius Renewable and certain Apollo-managed funds, which have financed the transaction on an equal basis.

Apex is an established industry leader in origination, commercialization, construction and operation of utility-scale renewable energy projects, with one of the largest portfolios of renewable resources in the nation. The full capacity of Angelo will be sold to Meta under an environmental attribute purchase agreement.

The royalty investment has been structured using royalty rates that vary over time and achieve Great Bay's investment hurdles.

Frank Getman, chief executive officer of Great Bay, commented: "Angelo Solar is a great project with a strong offtake contract and should provide a stable stream of revenue to Great Bay for years to come. We are pleased to support Apex's efforts to speed and shape the energy transition through this investment in a soon-to-be-operating project."

Great Bay was advised on this transaction by an advisory team from CCA Capital LLC, led by Martin Pasqualini, and a legal team at Pierce Atwood LLP, led by Kris Eimicke.

About Altius Renewable Royalties Corp.

Altius is a renewable energy royalty company, the business of which is to provide long-term, royalty level investment capital to renewable power developers, operators and originators. Altius has 33 renewable energy royalties, representing approximately 2.4 gigawatts of renewable power on operating projects and an additional approximate six gigawatts on projects in development phase, across several regional power pools in the United States. The corporation also expects future royalties from Great Bay's investments in Bluestar Energy Capital, Hodson Energy and Hexagon. 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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