Mr. Frank Getman reports

ALTIUS RENEWABLE ROYALTIES REPORTS Q1 2024 EXPECTED PROPORTIONATE ROYALTY REVENUE(1) OF US$2.5 MILLION

Altius Renewable Royalties Corp. expects to report Q1 2024 proportionate royalty revenue of $2.5-million (excluding interest income), which compares with $1.0-million of proportionate royalty revenue recorded in Q1 2023.

Great Bay Renewables (50 per cent owned with certain funds managed by affiliates of Apollo Global Management Inc.) recognized revenue from 11 operating royalties during the quarter, including from the Canyon wind project, which recently commenced commercial operations.

ARR's proportionate royalty revenue includes $600,000 from the previously noted escrow release related to the Titan solar transmission upgrade. In addition, $700,000 of revenue was recognized related to GBR's share of proceeds from Hexagon project sales. GBR is entitled to 10 per cent of the project sales proceeds from any project sales to third parties by Hexagon. The minimum return threshold and the total expected renewable royalties to be granted under the Hexagon investment agreement are unaffected by this supplemental revenue sharing.

Frank Getman, chief executive officer of GBR, commented: "We are excited to add Canyon wind, which stems from our TGE development portfolio investment, to our growing portfolio of operating royalties. We currently have 895 MWs of projects with GBR royalties under construction which will contribute to our growing operating cash flow later this year and next. Market conditions remain attractive for future deployment into new royalty investments."

Q1 2024 financial results conference call and webcast details

Financial results will be announced by press release May 2, 2024, after the close of trading. A conference call and webcast will be held on May 3, 2024, at 9:30 a.m. ET to provide a discussion of the business and outlook and to offer an open Q&A (question and answer) session for analysts and investors. Access details are as follows:

Date and time:  May 3, 2024, 9:30 a.m. ET

Toll-free dial-in number:  1-800-717-1738

International dial-in number:  1-646-307-1865

Conference call title and ID:  Altius Renewable Royalties Q1 2024 Financial Results, ID 40775

About Altius Renewable Royalties Corp.

Altius Renewable Royalties 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 Renewable Royalties has 33 renewable energy royalties representing approximately 1.9 GW (gigawatts) of renewable power on operating projects and an additional approximate 6.0 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 15.0 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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