Ms. Flora Wood reports

ALTIUS MINERALS CORPORATION CLOSES TRANSACTION INCREASING OWNERSHIP INTEREST IN GREAT BAY RENEWABLES AND ANNOUNCES INCREASED CREDIT FACILITY

Altius Minerals Corp. has closed the transaction, originally announced on July 10, 2026, to increase its effective ownership interest in Great Bay Renewable Holdings LLC and Great Bay Renewable Holdings II LLC to 50 per cent.

Under the transaction, funds managed by affiliates of Apollo sold their membership interests in GBR to Northampton Capital Partners for total consideration of approximately $390-million (U.S.). Concurrently, Northampton sold its interest in Altius Renewable Royalties Corp. to Altius for approximately $168-million (U.S.).

As a result of the tripartite transaction, Altius's effective interest in GBR has increased from 29 per cent to 50 per cent, while Northampton's effective interest has increased from 22 per cent to 50 per cent. Following the closing, GBR is held equally by Altius and Northampton, with Apollo funds no longer holding an interest in GBR. From third quarter 2026 onward, Altius will report its proportionate share of 50 per cent of GBR revenues and expenses.

Amended credit facility

On July 24, 2026, the corporation completed an amendment to increase its credit facility to $350-million from $225-million, being jointly led by Bank of Nova Scotia and Toronto-Dominion Bank, with participation from National Bank of Canada, ATB Financial, Desjardins Financial Security Life Assurance Company and Export Development Canada. Bank of Nova Scotia is the administrative agent for the credit facility. The previous term and revolving credit facility are replaced with a single revolving facility with no principal repayments required. The debt balance currently outstanding of approximately $87-million was transferred to the amended credit facility with maturity being extended from August, 2028, to July, 2030. The credit facility is available for qualifying royalty acquisitions, streaming acquisitions and other qualifying investments, and will bear interest at variable rates, with pricing improvements based on the total net debt ratio. Subsequent to the closing of this amendment, the corporation completed a drawdown on the credit facility of $100-million in relation to the closing and financing of the GBR transaction.

About Altius Minerals Corp.

Altius's strategy is to create per-share growth through a diversified portfolio of royalty assets that relate to long-life, high-margin operations. This strategy further provides shareholders with exposures that are well aligned with global growth trends including increasing electricity-based market share within energy usage, global infrastructure build and refurbishment growth, increased EAF-based steelmaking, steadily increasing agricultural fertilizer requirements, and the enhanced appetite for financial asset diversification through precious metal ownership. These macrotrends each hold the potential to cause higher demand for many of Altius's commodity exposures including potash, high-purity iron ore, electricity, base metals and gold. In addition, Altius runs a successful project generation business that originates mineral projects for sale to developers in exchange for royalties and that has a demonstrated record of driving outsized direct returns from its overall royalty investment portfolio. Altius has 58,748,220 common shares issued and outstanding that are listed on Canada's Toronto Stock Exchange. It is a member of the S&P/TSX Composite and S&P/TSX Global Mining indices and the S&P/TSX Canadian Dividend Aristocrats Index.

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