
Altius Minerals Corporation (TSX:ALS) (OTCQX:ATUSF) (&#34;Altius&#34;) is pleased to announce the successful closing of the transaction, originally announced on July 10, 2026, to increase its effective ownership

<p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Altius Minerals Corporation (TSX:<a class="ticker" href="https://www.benzinga.com/quote/ALS">ALS</a>) (OTCQX:<a class="ticker" href="https://www.benzinga.com/quote/ATUSF">ATUSF</a>)</b> (<b xmlns="http://www.w3.org/1999/xhtml">"Altius"</b>) is pleased to announce the successful closing of 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 ("collectively, "GBR") to 50%.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Under the transaction, funds managed by affiliates of Apollo (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/APO">APO</a>) sold their membership interests in GBR to Northampton Capital Partners ("Northampton") for total consideration of approximately US$390 million. Concurrently, Northampton sold its interest in Altius Renewable Royalties Corp. to Altius for approximately US$168 million.

</p><p xmlns="http://www.w3.org/1999/xhtml">
As a result of the tripartite transaction Altius’s effective interest in GBR has increased from 29% to 50%, while Northampton’s effective interest has increased from 22% to 50%. Following the closing GBR is held equally by Altius and Northampton, with Apollo funds no longer holding an interest in GBR. From Q3 2026 onward Altius will report its proportionate share of 50% of GBR revenues and expenses.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Amended Credit Facility</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
On July 24, 2026 the Corporation completed an amendment to increase its credit facility (&#34;Credit Facility&#34;) to C$350 million from C$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 is replaced with a single revolving facility with no principal repayments required. The debt balance currently outstanding of approximately C$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 draw down on the Credit Facility of C$100 million in relation to the closing and funding of the GBR transaction.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Forward Looking Statements</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable Canadian securities laws. This information includes, but is not limited to, statements relating to the proposed share purchase agreement, the expected timing of completion of the transaction, the satisfaction of closing conditions, and other statements that are not historical facts.

</p><p xmlns="http://www.w3.org/1999/xhtml">
In some cases, forward-looking information can be identified by the use of words such as "expects", "anticipates", "believes", "plans", "intends", "estimates", "projects", "forecasts", "may", "will", "could", "would", "should", "potential", "continue", or similar expressions. Forward-looking information reflects management&#39;s current expectations and is based on assumptions and factors believed by management to be reasonable as of the date hereof.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Forward-looking information is necessarily subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking information. Such risks and uncertainties include, without limitation: the failure to satisfy the conditions to completion of the transaction; the possibility that the Arrangement may not be completed on the terms contemplated or at all; changes in applicable laws or regulations; adverse market conditions; and other risks described in the Company&#39;s public disclosure documents filed on SEDAR+.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information contained in this news release is made as of the date hereof and the Company undertakes no obligation to update or revise any forward-looking information, except as required by applicable law.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">About Altius</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
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 metals ownership. These macro-trends 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 track 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&amp;P/TSX Composite and S&amp;P/TSX Global Mining Indices and the S&amp;P/TSX Canadian Dividend Aristocrats Index. 

</p><p xmlns="http://www.w3.org/1999/xhtml"><img xmlns="http://www.w3.org/1999/xhtml" alt="" src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260729960633r1&amp;sid=benz2&amp;distro=nx&amp;lang=en" style="width:0;height:0"></img><span xmlns="http://www.w3.org/1999/xhtml" class="bwct31415"></span></p><p xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink"><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-phrase">View source version on businesswire.com: </span><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-link"><a xmlns="http://www.w3.org/1999/xhtml" href="https://www.businesswire.com/news/home/20260729960633/en/" rel="nofollow">https://www.businesswire.com/news/home/20260729960633/en/</a></span></p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">For further information, please contact: 
</b><br xmlns="http://www.w3.org/1999/xhtml"></br>
<br xmlns="http://www.w3.org/1999/xhtml"></br><b xmlns="http://www.w3.org/1999/xhtml">Flora Wood 
</b><br xmlns="http://www.w3.org/1999/xhtml"></br>Email: <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="mailto:Fwood@altiusminerals.com" shape="rect"><b xmlns="http://www.w3.org/1999/xhtml">Fwood@altiusminerals.com 
</b></a><br xmlns="http://www.w3.org/1999/xhtml"></br>Tel: 1.877.576.2209
<br xmlns="http://www.w3.org/1999/xhtml"></br>Direct: 1.416.346.9020
<br xmlns="http://www.w3.org/1999/xhtml"></br>
<br xmlns="http://www.w3.org/1999/xhtml"></br><b xmlns="http://www.w3.org/1999/xhtml">Stephanie Hussey 
</b><br xmlns="http://www.w3.org/1999/xhtml"></br>Email: <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="mailto:SHussey@altiusminerals.com" shape="rect"><b xmlns="http://www.w3.org/1999/xhtml">SHussey@altiusminerals.com 
</b></a><br xmlns="http://www.w3.org/1999/xhtml"></br>Tel: 1.877.576.2209

</p>

TSX:ALS

Altius Minerals Corporation Closes Transaction Increasing Ownership Interest in Great Bay Renewables and Announces Increased Credit Facility

Altius Increases GBR Ownership to 50%, Adds Debt Flexibility

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>Altius Minerals Corporation (TSX:ALS) (OTCQX:ATUSF) (&amp;#34;Altius&amp;#34;) is pleased to announce the successful closing of the transaction, originally announced on July 10, 2026, to increase its effective ownership</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Altius closed a tripartite deal to lift its GBR ownership to 50%, with Apollo exiting the venture. Northampton now holds 50% and GBR is evenly split between Altius and Northampton. The company expanded its CAD 350 million credit facility, drew CAD 100 million for the GBR closing, and will report 50% of GBR revenues and expenses starting Q3 2026, signaling a higher earnings base ahead.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Altius closes GBR stake to 50% via tripartite deal. Apollo exits GBR; Northampton gains equal stake.</li><li>Apollo sells GBR for US$390m; Northampton buys. Northampton sells its ARR stake to Altius for US$168m.</li><li>GBR now 50/50 Altius-Northampton. Apollo funds no longer hold GBR.</li><li>Amended credit facility to CAD 350m; maturity to 2030; CAD$87m outstanding. CAD$100m drawn to fund GBR closing.</li><li>From Q3 2026, Altius to report 50% of GBR revenues and expenses.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Apollo Global Management (APO)</strong>: Sold GBR for ~US$390m; exited GBR, reducing external sponsor in GBR.</li><li><strong>Northampton Capital Partners (Private)</strong>: Acquired 50% GBR stake; sold ARR stake to Altius for US$168m.</li><li><strong>Altius Renewable Royalties Corp. (ARR)</strong>: Northampton sold ARR stake to Altius for US$168m.</li><li><strong>Great Bay Renewable Holdings, LLC (GBR)</strong>: GBR ownership now 50/50 Altius-Northampton; external sponsor exit.</li><li><strong>Altius Minerals Corporation (ALS)</strong>: Increases GBR exposure to 50%; increases reporting of GBR economics from Q3 2026.</li></ul>
  </section>

  <section data-block="category">
    <h3>M&amp;A</h3>
    <p>Category: M&amp;A. The close represents a strategic realignment of GBR ownership, with leveraged financing to fund the deal and a shift in revenue recognition that tightens the link between Altius and GBR economics.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Altius gains 50% GBR ownership; revenue/expense share increases to 50% from 29%/22%.</li><li>Credit facility expanded to CAD 350 million, extending maturity to 2030.</li><li>CAD$100 million draw used to fund GBR closing; leverage may rise short-term.</li><li>Apollo exits GBR; change in sponsorship risk profile for GBR.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>GBR ownership increased from 29% to 50% for Altius; Northampton from 22% to 50%.</li><li>US$390 million paid by Apollo-linked funds to Northampton for GBR interests.</li><li>Northampton paid US$168 million to Altius for its ARR stake.</li><li>Credit facility amended to CAD 350 million; outstanding CAD ~87 million; maturity moved to July 2030.</li><li>Altius will report 50% of GBR revenues/expenses starting Q3 2026.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Bullish near-term for TSX:ALS as GBR exposure rises; expect improved revenue visibility by Q3 2026.</p>
  </section>
</section>


<p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Altius Minerals Corporation (TSX:<a class="ticker" href="https://www.benzinga.com/quote/ALS">ALS</a>) (OTCQX:<a class="ticker" href="https://www.benzinga.com/quote/ATUSF">ATUSF</a>)</b> (<b xmlns="http://www.w3.org/1999/xhtml">"Altius"</b>) is pleased to announce the successful closing of 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 ("collectively, "GBR") to 50%.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Under the transaction, funds managed by affiliates of Apollo (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/APO">APO</a>) sold their membership interests in GBR to Northampton Capital Partners ("Northampton") for total consideration of approximately US$390 million. Concurrently, Northampton sold its interest in Altius Renewable Royalties Corp. to Altius for approximately US$168 million.

</p><p xmlns="http://www.w3.org/1999/xhtml">
As a result of the tripartite transaction Altius’s effective interest in GBR has increased from 29% to 50%, while Northampton’s effective interest has increased from 22% to 50%. Following the closing GBR is held equally by Altius and Northampton, with Apollo funds no longer holding an interest in GBR. From Q3 2026 onward Altius will report its proportionate share of 50% of GBR revenues and expenses.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Amended Credit Facility</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
On July 24, 2026 the Corporation completed an amendment to increase its credit facility (&#34;Credit Facility&#34;) to C$350 million from C$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 is replaced with a single revolving facility with no principal repayments required. The debt balance currently outstanding of approximately C$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 draw down on the Credit Facility of C$100 million in relation to the closing and funding of the GBR transaction.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Forward Looking Statements</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable Canadian securities laws. This information includes, but is not limited to, statements relating to the proposed share purchase agreement, the expected timing of completion of the transaction, the satisfaction of closing conditions, and other statements that are not historical facts.

</p><p xmlns="http://www.w3.org/1999/xhtml">
In some cases, forward-looking information can be identified by the use of words such as "expects", "anticipates", "believes", "plans", "intends", "estimates", "projects", "forecasts", "may", "will", "could", "would", "should", "potential", "continue", or similar expressions. Forward-looking information reflects management&#39;s current expectations and is based on assumptions and factors believed by management to be reasonable as of the date hereof.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Forward-looking information is necessarily subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking information. Such risks and uncertainties include, without limitation: the failure to satisfy the conditions to completion of the transaction; the possibility that the Arrangement may not be completed on the terms contemplated or at all; changes in applicable laws or regulations; adverse market conditions; and other risks described in the Company&#39;s public disclosure documents filed on SEDAR+.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information contained in this news release is made as of the date hereof and the Company undertakes no obligation to update or revise any forward-looking information, except as required by applicable law.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">About Altius</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
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 metals ownership. These macro-trends 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 track 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&amp;P/TSX Composite and S&amp;P/TSX Global Mining Indices and the S&amp;P/TSX Canadian Dividend Aristocrats Index. 

</p><p xmlns="http://www.w3.org/1999/xhtml"><img xmlns="http://www.w3.org/1999/xhtml" alt="" src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260729960633r1&amp;sid=benz2&amp;distro=nx&amp;lang=en" style="width:0;height:0"></img><span xmlns="http://www.w3.org/1999/xhtml" class="bwct31415"></span></p><p xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink"><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-phrase">View source version on businesswire.com: </span><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-link"><a xmlns="http://www.w3.org/1999/xhtml" href="https://www.businesswire.com/news/home/20260729960633/en/" rel="nofollow">https://www.businesswire.com/news/home/20260729960633/en/</a></span></p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">For further information, please contact: 
</b><br xmlns="http://www.w3.org/1999/xhtml"></br>
<br xmlns="http://www.w3.org/1999/xhtml"></br><b xmlns="http://www.w3.org/1999/xhtml">Flora Wood 
</b><br xmlns="http://www.w3.org/1999/xhtml"></br>Email: <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="mailto:Fwood@altiusminerals.com" shape="rect"><b xmlns="http://www.w3.org/1999/xhtml">Fwood@altiusminerals.com 
</b></a><br xmlns="http://www.w3.org/1999/xhtml"></br>Tel: 1.877.576.2209
<br xmlns="http://www.w3.org/1999/xhtml"></br>Direct: 1.416.346.9020
<br xmlns="http://www.w3.org/1999/xhtml"></br>
<br xmlns="http://www.w3.org/1999/xhtml"></br><b xmlns="http://www.w3.org/1999/xhtml">Stephanie Hussey 
</b><br xmlns="http://www.w3.org/1999/xhtml"></br>Email: <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="mailto:SHussey@altiusminerals.com" shape="rect"><b xmlns="http://www.w3.org/1999/xhtml">SHussey@altiusminerals.com 
</b></a><br xmlns="http://www.w3.org/1999/xhtml"></br>Tel: 1.877.576.2209

</p>

Altius closed a tripartite deal to lift its GBR ownership to 50%, with Apollo exiting the venture. Northampton now holds 50% and GBR is evenly split between Altius and Northampton. The company expanded its CAD 350 million credit facility, drew CAD 100 million for the GBR closing, and will report 50% of GBR revenues and expenses starting Q3 2026, signaling a higher earnings base ahead.

News insight

Altius Minerals Corporation Closes Transaction Increasing Ownership Interest in Great Bay Renewables and Announces Increased Credit Facility

AI summary

Sentiment rationale

Key facts

M&A