All amounts in Canadian dollars unless otherwise stated

VANCOUVER, BC / ACCESSWIRE / August 28, 2024 / RE Royalties Ltd. (TSXV:RE)(OTCQX:RROYF) ("RE Royalties" or the "Company"), a global leader in renewable energy royalty-based financing, is pleased to announce the financial results for the second quarter ended June 30, 2024 ("Q2 2024"). For further information on these results please see the Company's Condensed Consolidated Interim Financial Statements and Management's Discussion and Analysis for Q2 2024, filed on SEDAR+ at www.sedarplus.com.

Key financial highlights for Q2 2024 include:

• Year-to-date revenue and income for the six months ended June 30, 2024, of $4,465,000, a decrease of $797,000 or 15% over the similar period in the prior year. This decrease was due to the Prior Year Royalty Buyout.

• Quarterly gross profit, including changes in fair value of financial assets, of $1,723,000, a decrease of $1,626,000 or 49% over the similar quarter in the prior year, due to the Prior Year Royalty Buyout.

• Year-to-date gross profit, including changes in fair value of financial assets, for the six months ended June 30, 2024, of $4,262,000, a decrease of $877,000 or 17% over the similar period in the prior year, due to the Prior Year Royalty Buyout.

• Quarterly Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA")1 for Q2 2024 of $524,000, a decrease of $1,632,000 or 76% over the similar quarter in the prior year, due to the Prior Year Royalty Buyout.

• Year-to-date Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA")1 for the six months ended June 30, 2024 of $2,321,000, a decrease of $1,181,000 or 34% over the similar period in the prior year, due to the Prior Year Royalty Buyout.

• Quarterly net loss after income tax of $657,000, compared to a quarterly net income after tax of $1,123,000 in the similar quarter in the prior year, due to the Prior Year Royalty Buyout.

• Year to date net income after income tax for the six months ended June 30, 2024 of $1,600 compared to a year to date net income of $1,680,000 in the similar period in the prior year, due to the Prior Year Royalty Buyout.

• Cash and cash equivalents of $13,210,000, including restricted cash, as of June 30, 2024.

"While Q2 2024 was a relatively quiet quarter in terms of transaction completions, we have materially advanced our due diligence on several investment opportunities. We expect to complete this work in the near future, and with our current cash on hand, additional opportunities that we are evaluating, we expect to continue to grow our revenue and income, EBITDA, and cash flows over the coming quarters," said Bernard Tan, CEO.

Conference Call on September 3^rd, 2024

Management will be hosting a second quarter conference call on September 3, 2024 at 1:00pm PT (4:00pm ET) to discuss its Q2 2024 results. After opening remarks by management, there will be a question-and-answer session open to analysts and investors. Questions can be submitted in advance to Melanee Henderson, Investor Relations, at info@reroyalties.com

You can join the conference call at:

Date: Tuesday, September 3, 2024
Time: 1:00pm PT (4:00pm ET)
Zoom Meeting: https://zoom.us/j/93906820035
Meeting ID: 939 0682 0035 #
Find your local call-in number: https://zoom.us/u/akaEV9GSa

¹Non-GAAP Performance Measures

This document contains presentation of Earnings Before Interest, Taxes, Depreciation, and Amortization ("EBITDA") as a non-GAAP financial measure. This measure may differ from similar measures used by and may not be comparable to such measures as reported by other companies. The Company believes that EBITDA is commonly used by certain investors, in conjunction with conventional IFRS measures, to enhance their understanding of the Company's performance. These measures have been derived from the Company's financial statements and applied on a consistent basis. Non-GAAP measures are intended to provide additional information, not to replace 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. 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 on Sedar+ or on the Company's website.

About RE Royalties Ltd.

RE Royalties Ltd. acquires revenue-based royalties from renewable energy facilities and technologies by providing a non-dilutive financing solution 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 Canada, United States, Mexico, and Chile. The Company's business objectives are to provide shareholders with a strong growing yield, robust capital protection, high rate of growth through re-investment and a sustainable investment focus.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor any other regulatory body or securities exchange platform, accepts responsibility for the adequacy or accuracy of this release.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction, nor shall there be any offer or sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been approved or disapproved by any regulatory authority nor has any such authority passed upon the accuracy or adequacy of the short form base shelf prospectus or the prospectus supplement. The offer and sale of the securities has not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold in the United States or to United States persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.

Forward Looking Statements

This news release includes forward-looking information and forward-looking statements (collectively, "forward-looking information") with respect to the Company and within the meaning of Canadian securities laws. Forward looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. This information represents predictions and actual events or results may differ materially. Forward-looking information may relate to the Company's future outlook and anticipated events or results and may include statements regarding the Company's financial results, future financial position, expected growth of cash flows, business strategy, budgets, projected costs, projected capital expenditures, taxes, plans, objectives, industry trends and growth opportunities including financing. The reader is referred to the Company's most recent filings on SEDAR+ as well as other information filed with the OTC Markets for a more complete discussion of all applicable risk factors and their potential effects, copies of which may be accessed through the Company's profile page at www.sedar.com.

SOURCE: RE Royalties Ltd.