Altius Renewable Royalties Reports Q1 2024 Expected Proportionate Royalty Revenue(1) of US$2.5 million

Altius Renewable Royalties Corp. (TSX: ARR) (OTCQX: ATRWF) (“ARR”, the “Company”, or the “Corporation”), expects to report Q1 2024 proportionate royalty revenue of $2.5 million (excluding interest income), which compares to $1.0 million of proportionate royalty revenue recorded in Q1 2023.

Great Bay Renewables (50% 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 $0.6 million from the previously noted escrow release related to the Titan Solar transmission upgrade. In addition, $0.7 million of revenue was recognized related to GBR’s share of proceeds from Hexagon project sales. GBR is entitled to 10% 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, CEO 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 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:					May 3, 2024, 9:30 am ET
Toll Free Dial-In Number:					([phone]
International Dial-In Number:					([phone]
Conference Call Title and ID:					Altius Renewable Royalties Q1 2024 Financial Results, ID 40775