RE Royalties Ltd.

Welcome everyone to the RE Royalty's first quarter 2024 conference call. Joining us today is Bernard Tan, CEO, Peter Layton, COO, and Lukman Khan, CFO. All company executives will participate in the Q&A session after the management's formal remarks. As usual, before we get into opening remarks by management, I would like to remind our listeners that the comments and answers to your questions will contain forward-looking statements and forward-looking information. This information, by its nature, is subject to risks and uncertainty that may cause the stated outcome to be different materially from the actual outcome. Further information on the risks and uncertainties, I encourage you to read the cautionary note that accompanies our annual and other related news releases, as well as risk factors particular to our company. I would also like to point out that we use various non-GAAP measures during the call. You can find exclamations and reconciliations regarding these measures in related news releases. Following open remarks, we will address some particular some previously submitted investor questions, as well as these that have come through Teams. If you would like to submit a question, please use the Q&A section function of Teams. If we do not get to your questions today, please email us at info at reroyalties.com, and we would be happy to follow up with an answer. Now I would like to turn the call over to the CEO, Bernard Tan. Please go ahead.

Thank you, Melanie, and good afternoon, ladies and gentlemen. Thanks for joining us today, and welcome to the RE Royalty's 2024 First Quarter Results Conference Call. Joining me today is our COO, Peter Leighton, and our CFO, Lukman Khan. The first quarter of 2024 continues our upward trend of growing our revenues and income, EBITDA, and cash flows. Our portfolio of investments continue to remain very resilient, despite uncertainties in the economy and our pipeline of projects remain very strong. During the quarter we close three investments with a new and also existing clients and Peter will highlight some of these investments made and also provide an update on our existing investments and backlog. Our green bonds framework and report also received a dark green rating from S&P Global Ratings this quarter. And this is really the highest possible rating in terms of positive environmental impact towards a low carbon climate resilient future. Luthman, our CFO, will then provide a summary of our financial results for the quarter, and I will wrap it up with some additional commentary and also questions from the audience. Over to you, Peter.

Thanks, Bernard, and thanks to everyone for joining us today.

During the first quarter of 2024, the company closed three transactions that had previously been announced. In January 2024, the company entered into an agreement with Clean Communities Corporation, an Alberta-based Indigenous-led clean energy company, to provide a $1.7 million secured loan to support the construction of a four megawatt solar project in Cardston, Alberta.

The loan has a 60 month term and it doesn't even take into account our very high growth rates compared to utilities as a sort of top line growth rate from 2019 to 2023. We realize an annual compounded growth rate of 63% year over year. So we definitely as management team board and I'm sure a lot of shareholders feel that the shares are definitely undervalued. And really, our goal as management is to make sure that more folks know about us, what we have accomplished and also plan to accomplish. And hopefully for individuals that hear the story, they see it as a great opportunity to be a shareholder as well. I'll pass it back to you, Melanie, if there are any more questions.

Thanks Bernard. No, that's the end of our questions, so I'm going to pass it back to you.

Thanks, Melanie. And I do want to, again, thank everyone. I do realize it is a Friday afternoon on the East Coast, the West Coast, and also other parts of the world for you that are calling in. So I do appreciate you taking the time to attend our Q1 call. As Melanie mentioned at the earlier part of the call, if you do have any follow-up questions, definitely feel free to email us at info at reroyalties.com. or you can reach Melanie's or Tilia's contacts, I believe, which is also on the press release. Again, thank you everyone for your time and we look forward to speaking or speaking with you again in the next update call in, I guess, for Q2.

Thank you, Bernard.

And that ends the call for today. Have a great weekend.