RE Royalties Ltd. announced the successful final closing of its non-brokered private placement offering of Series 3 senior secured green bonds of the Company, as previously announced on January 27, 2023, and subsequently upsized as per the Company's announcement of February 27, 2023. Pursuant to the Final Closing, the Company issued 297 Canadian dollar denominated Green Bonds, with a principal amount of $1,000 per Green Bond for aggregate gross proceeds of $297,000. When taken in total aggregate, including both: the Company's marketed public offering Green Bonds, which closed a first tranche and second and final tranche on January 30, 2023 and February 28, 2023, respectively, and the Private Placement, the Company has issued a total of 16,423 Canadian dollar denominated Green Bonds for aggregate gross proceeds of $16,423,000 and 1,242 United States dollar denominated Green Bonds for aggregate gross proceeds of $1,242,000.

The Green Bonds will have a maturity date of January 30, 2028, and bear interest at a rate of 9% per annum, payable quarterly, and will be senior obligations of the Company secured against the Company's portfolio of royalty and loan investments. In connection with the Final Closing of the Private Placement, the Company has paid a corporate advisory fee to certain parties consisting of $20,790 in cash, and the issuance of 13,860 warrants. Each warrant will entitle the holder thereof to acquire one common share of the Company at an exercise price equal to $0.75 for a period of 36 months from the date of the Final Closing.

The Green Bonds were issued under a supplemental trust indenture dated January 30, 2023 to the Company's existing green bond trust indenture dated August 10, 2020 with Western Pacific Trust Company, as trustee. Net proceeds from the Green Bonds will be utilized to acquire revenue-based royalties and/or provide loans to privately held and publicly traded renewable energy companies. The Company has adopted a Green Bond Framework that is aligned with the International Capital Market Association Green Bond Principles (2018).