Mr. Bernard Tan reports

RE ROYALTIES DECLARES 2024 FIRST QUARTER SHAREHOLDERS DIVIDEND PAYMENT

RE Royalties Ltd. has declared a cash distribution of one cent per issued and outstanding common share for the first quarter ending March 31, 2024.

The distribution is payable on May 22, 2024, to shareholders of record on May 1, 2024. The distribution is designated by the company to be a dividend for the purpose of the Income Tax Act (Canada) and any similar provincial or territorial legislation.

The cumulative amount of dividends declared for the 2024 fiscal year has been one cent per common share.

Bernard Tan, chief executive officer of the company, commented: "We continue to deliver on our business plan in the first quarter of 2024 with the completion of our investments with Revolve Renewable Power and Clean Communities Corp. These investments will continue to build upon and grow our revenues, income and cash flows for the future, and we are pleased to provide our shareholders with another dividend. Demand for our unique royalty financing solutions have been strong, and we are working to expand our portfolio in the coming quarters."

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.