Altius Renewable Royalties Reports Q1 Expected Proportionate Royalty Revenue(1) of US$1.0 million

Rhea-AI Summary

Altius Renewable Royalties Corp. (OTCQX: ATRWF) announced an expected Q1 2023 proportionate royalty revenue of $1.0 million, a notable increase from $0.6 million in Q1 2022, primarily driven by its 50% stake in Great Bay Renewables (GBR). CEO Frank Getman highlighted the positive performance of most royalties, although a mild winter and low natural gas prices caused lower merchant power prices, particularly impacting revenues from the Old Settler project in West Texas. Despite the Q1 revenue dip, ARR maintains its full-year revenue guidance of $11.5 million to $13.5 million for GBR. The company also anticipates robust demand for GBR's flexible royalty financing solutions.

Financial results will be disclosed on May 5, 2023, followed by a conference call on May 8, 2023.

Positive

• Q1 2023 royalty revenue expected to rise to $1.0 million from $0.6 million in Q1 2022.
• Full-year revenue guidance for GBR maintained at $11.5 million to $13.5 million.
• Strong demand for GBR's royalty financing solutions.

Negative

• Mild winter and low natural gas prices have negatively impacted revenues from the Old Settler project.

All $ references in US unless otherwise indicated

ST. JOHN’S, Newfoundland--(BUSINESS WIRE)-- Altius Renewable Royalties Corp. (TSX: ARR) (OTCQX: ATRWF) (“ARR”, the “Company”, or the “Corporation”), expects to report Q1 2023 proportionate royalty revenue of $1.0 million, which compares to $0.6 million of proportionate royalty revenue recorded in Q1 2022. This amount reflects ARR’s 50% ownership interest in Great Bay Renewables (“GBR”).

Frank Getman, CEO of GBR, commented, “Our royalty revenue continues to ramp up as additional projects stemming from our developer-based agreements commission and as recent acquisitions of operating stage royalties are incorporated. Most royalties in our diversified portfolio performed well, however a mild winter and low natural gas prices have resulted in lower merchant power prices across regions of the country, and particularly impacted revenues from our royalty on the Old Settler project in West Texas. We anticipated lower revenues in Q1 compared to the remaining quarters in the year and as such maintain our full year revenue guidance of $11.5 million to $13.5 million for GBR. We also continue to see incredibly strong demand for GBR’s flexible, partner-like royalty financing with both developers and operating projects and expect to be able to deploy additional capital throughout the remainder of 2023.”

Q1 2023 Financial Results Conference Call and Webcast Details

Financial results will be announced by press release May 5, 2023 after the close of trading. A conference call and webcast will be held on May 8, 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:			May 8, 2023, 9 am ET
Toll Free Dial-In Number:			+1 888 396 8049
International Dial-In Number:			+1 416 764 8646
Conference Call Title and ID:			ARR Q1 2023 Financial Results, ID 10413570
Webcast Link:			ARR Q1 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.

About ARR

ARR is a renewable energy royalty company whose business is to provide long-term, royalty level investment capital to renewable power developers, operators, and originators. ARR has 33 renewable energy royalties representing approximately 1.9 GW of renewable power on operating projects and an additional approximate 6 GW on projects in development phase, across several regional power pools in the U.S. The Corporation also expects future royalties from GBR's investments in Bluestar Energy Capital and Hodson Energy. 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.

Forward-looking information

This news release contains forward‐looking information. The statements are based on reasonable assumptions and expectations of management and ARR provides no assurance that actual events will meet management's expectations. In certain cases, forward‐looking information may be identified by such terms as "anticipates", "believes", "could", "estimates", "expects", "may", "shall", "will", or "would". Although ARR believes the expectations expressed in such forward‐looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those projected. Readers should not place undue reliance on forward-looking information. ARR does not undertake to update any forward-looking information contained herein except in accordance with securities regulation.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230418005597/en/

Flora Wood

Email: Flora@arr.energy

Tel: 1.877.576.2209

Direct: 1.416.346.9020

Ben Lewis

Email: Ben@arr.energy

Tel: 1.877.576.2209

Source: Altius Renewable Royalties Corp.

FAQ

What was Altius Renewable Royalties Corp.'s expected royalty revenue for Q1 2023?

Altius Renewable Royalties Corp. expects Q1 2023 proportionate royalty revenue of $1.0 million.

How does Q1 2023 royalty revenue compare to Q1 2022 for ATRWF?

Q1 2023 royalty revenue of $1.0 million is an increase from $0.6 million in Q1 2022.

What is the full-year revenue guidance for Great Bay Renewables in 2023?

The full-year revenue guidance for Great Bay Renewables is maintained at $11.5 million to $13.5 million.

What factors affected revenue from the Old Settler project?

Lower merchant power prices due to a mild winter and low natural gas prices impacted revenue from the Old Settler project.

When will Altius Renewable Royalties Corp. announce its Q1 financial results?

The Q1 financial results will be announced on May 5, 2023.