All amounts in Canadian dollars unless otherwise stated

VANCOUVER, BC / ACCESSWIRE / February 14, 2024 / RE Royalties Ltd. (TSXV:RE)(OTCQX:RROYF) ("RE Royalties" or the "Company"), a global leader in renewable energy royalty financing, is pleased to announce that further to its news release dated October 4, 2023, Revolve Renewable Power Corp. (TSXV:REVV) ("Revolve"), has completed the acquisition (the "Acquisition") of WindRiver Power Corporation ("WindRiver"), a Canadian based owner, operator and developer of wind and hydro projects in the Provinces of British Columbia and Alberta.

The Company provided a CAD $4.0 million secured loan (the "Loan") to support Revolve's acquisition of Windriver. The Loan has a term of 36 months and bears interest at the rate of 12% per annum, compounded monthly, and payable semi-annually. The Company also received a structuring fee of 1.0% on the Loan value at closing, and a gross revenue royalty of 0.5% on the acquired operating projects during the term of the Loan, growing to a gross revenue royalty of 1.0% upon repayment of the Loan for the remaining life of the power purchase agreements.

The Acquisition includes a minority ownership (21%) in two operational run-of-river hydro projects in British Columbia, and a majority ownership (51%) in an operational wind project in Alberta with a combined gross capacity of 23 MW (the "Operational Projects"). It also includes a majority ownership (70 to 87.5%) in two development-stage hydro projects in British Columbia with a combined gross capacity of 90 MW.

The Operational Projects receive revenue from Power Purchase Agreements with a prominent provincial utility and a municipal entity, for the hydro projects and the wind project, respectively. The Operational Projects have PPAs with remaining terms ranging from 32-35 years for the hydro projects and 11 years for the wind project.

Bernard Tan, CEO of RE Royalties, stated: "We're pleased to continue our partnership with Revolve and look forward to working with them on their growing portfolio of renewable energy projects. This investment presents an excellent opportunity for our investors and highlights the sustained demand for our innovative financing solutions."

Steve Dalton, CEO of Revolve commented: "We're delighted to close the acquisition of WindRiver and would like to take the opportunity to thank the WindRiver team, RE Royalties team, shareholders, and advisers for their work on the transaction over the last number of months. We look forward to building on the success of WindRiver and to continuing to expand our presence in the Canadian market."

On Behalf of the Board of Directors,

Bernard Tan
CEO

About RE Royalties Ltd.

RE Royalties Ltd. 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, battery storage, run-of-river, 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.

About Revolve Renewable Power

Revolve Renewable Power Corp. is working to develop utility scale renewable energy generation projects in North America, focused on wind, solar and battery storage technologies. Revolve currently has a portfolio of 2.9 gigawatts ("GW") of projects under active development and a further 2GW of greenfield opportunities, in the process of converting to its pipeline in the near term. Revolve is in the process of expanding its pipeline and development activities in the US and is targeting an active portfolio of up to 5GWs under development.

For further information, please contact:

Investor and Media Contact:

Melanee Henderson, Investor Relations
T: (778) 373-6731 TF 800-667-2114
E: melaneehenderson@reroyalties.com

Talia Beckett, Vice President of Communications
T: (778) 374‐2000
E: taliabeckett@reroyalties.com

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.