Mr. Bernard Tan reports

RE ROYALTIES ANNOUNCES INITIAL CLOSING OF PRIVATE PLACEMENT OF SERIES 3 SECURED GREEN BONDS

RE Royalties Ltd. has completed the initial closing of its non-brokered private placement offering of Series 3 senior secured green bonds of the company, as previously announced on Jan. 27, 2023.

Pursuant to the initial closing, the company issued 6,599 Canadian-dollar-denominated green bonds, with a principal amount of $1,000 per green bond for aggregate gross proceeds of $6,599,000 and 255 U.S.-dollar-denominated green bonds, with a principal amount of $1,000 (U.S.) per green bond for aggregate gross proceeds of $255,000 (U.S.).

Along with the successful initial closing of its public offering of Series 3 senior secured green bonds, as previously announced on Jan. 30, 2023, the company has issued an aggregate of 11,714 Canadian-dollar-denominated green bonds, with a principal amount of $1,000 per green bond for aggregate gross proceeds of $11,714,000 and 272 U.S.-dollar-denominated green bonds, with a principal amount of $1,000 (U.S.) per green bond for aggregate gross proceeds of $272,000 (U.S.).

The green bonds will have a maturity date of Jan. 30, 2028, and bear interest at a rate of 9 per cent per annum, payable quarterly, and will be senior obligations of the company secured against the company's portfolio of royalty and loan investments. The green bonds were issued under a supplemental trust indenture dated Jan. 30, 2023, to the company's existing green bond trust indenture dated Aug. 10, 2020, with Western Pacific Trust Company, as trustee. A copy of the indenture and the supplemental indenture are available on the company's SEDAR profile.

Net proceeds from the green bonds will be utilized to acquire revenue-based royalties and/or provide loans to privately held and publicly traded renewable energy companies. The company has adopted a green bond framework that is aligned with the International Capital Market Association Green Bond Principles (2018), which framework is available on the company's website.

In connection the initial closing of the private placement, the company has paid a corporate advisory fee to certain parties consisting of $461,930 and $17,850 (U.S.) in cash, and the issuance of 319,853 warrants. Each warrant will entitle the holder thereof to acquire one common share of the company at an exercise price equal to 75 cents for a period of 36 months from the date of the initial closing.

The company expects the final closing of the private placement to occur on or before Feb. 27, 2023.

About RE Royalties Ltd.

RE Royalties acquires revenue-based royalties over renewable energy facilities and technologies by providing non-dilutive financing solutions to privately held and publicly traded companies in the renewable energy sector. RE Royalties is the first to apply this proven business model to the renewable energy sector. The company currently owns over 100 royalties on solar, wind, hydro, battery storage, energy efficiency and renewable natural gas projects in North America, Mexico and Europe. The company's business objectives are to provide shareholders with a strong growing yield, robust capital protection, high rate of growth through reinvestment and a sustainable investment focus.

We seek Safe Harbor.