Altius Renewable Royalties Reports Q3 2023 Expected Proportionate Royalty Revenue(1) of US$1.9 million

Altius Renewable Royalties Corp. (TSX: ARR) (OTCQX: ATRWF) (“ARR”, the “Company”, or the “Corporation”), expects to report Q3 2023 proportionate royalty revenue of $1.9 million (excluding interest income), which compares to $1.6 million of proportionate royalty revenue recorded in Q3 2022 and $1.0 million last quarter. This amount reflects ARR’s 50% ownership interest in Great Bay Renewables (“GBR”).

Frank Getman, CEO of GBR, commented, “As expected, revenues increased during the quarter due to higher summer temperatures and increased power demand and power prices.” Getman added, “Assuming the release of an escrow associated with the completion of a local transmission upgrade at Titan Solar occurs in Q4, which was projected to be completed earlier in the year and will result in an approximate $1.0 million recognition of revenue for GBR, we remain confident in our ability to achieve the revenue guidance provided earlier in 2023”.

GBR revenue guidance for 2023 is $11.5 - 13.5 million.

Q3 2023 Financial Results Conference Call and Webcast Details

Financial results will be announced by press release November 6, 2023 after the close of trading. A conference call and webcast will be held on November 7, 2023 at 9:00 am ET to provide a discussion of the business and outlook and to offer an open Q&A session for analysts and investors. Access details are as follows:

Date and time:			November 7, 2023, 9 am ET
Toll Free Dial-In Number:			([phone]
International Dial-In Number			([phone]
Conference Call Title and ID:			Altius Renewable Royalties Q3 2023 Financial Results, ID 64424217
Webcast Link:			ARR Q3 2023

Non‐GAAP financial measures
⁽¹⁾ Proportionate royalty revenue is a non‐GAAP financial measure. Management uses non-GAAP financial measures to monitor the financial performance of the Corporation and believes these measures enable investors and analysts to compare the Corporation’s financial performance with its competitors and/or evaluate the results of its underlying business. These measures are intended to provide additional information, not to replace International Financial Reporting Standards (IFRS) measures, and do not have a standard definition under IFRS and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. As these measures do not have a standardized meaning, they may not be comparable to similar measures provided by other companies. Further information on the composition and usefulness of each non-GAAP financial measure, including reconciliation to their most directly comparable IFRS measures, is included in the non-GAAP financial measures section of our MD&A, which are available at https://www.arr.energy