Mr. Steve Dalton reports

REVOLVE EXPANDS CANADIAN DEVELOPMENT PORTFOLIO

Revolve Renewable Power Corp. has expanded its presence in the Canadian market through the addition of a new 150 MW (megawatt) solar development project in the province of Saskatchewan.

On June 8, 2023, the company announced its expansion into the Canadian market, completing the last phase of its market strategy to create a North American-focused renewable independent power producer (IPP). The company commenced early-stage development work and targeted an initial portfolio of utility-scale projects by the end of 2023.

The result of this initial development work was completion of land procurement for the project, which represents the first development asset in the company's Canadian portfolio. The company is in the process of finalizing a development plan for the project, with further work expected to commence later this year.

WindRiver acquisition update

Another key component of the company's expansion strategy has been to consider M&A (merger and acquisition) opportunities for operating assets in the United States and Canada. On Oct. 4, 2023, the company announced the proposed acquisition of WindRiver Corp., a Canadian-based owner, operator and developer of wind and hydro projects in the provinces of British Columbia and Alberta.

The proposed acquisition, once completed, will add 96.63 MW of net operational and development capacity to the company's portfolio, which is split between 6.63 MW of net operational capacity and 90 MW of development assets, all located within Canada.

The company continues to work with the WindRiver team to finalize the completion of the arrangement agreement signed between WindRiver and the company. Closing of the proposed acquisition is expected to be completed in February, 2024.

The company is actively reviewing and assessing a number of other potential acquisition opportunities and will provide an update to shareholders should binding terms be agreed.

About Revolve Renewable Power Corp.

Revolve was formed in 2012 to capitalize on the growing global demand for renewable power. Revolve develops utility-scale wind, solar and battery storage projects in the United States, Canada and Mexico with a portfolio of approximately 2,988 MW under development. The company has a second division, Revolve Renewable Business Solutions, which installs and operates sub-20-megawatt behind-the-meter distributed generation (DG) assets. Revolve Renewable Business Solutions currently has an operating portfolio of six megawatts with an additional three megawatts under construction phase and 156 megawatts under development.

Revolve has an accomplished management team with a demonstrated record of taking projects from greenfield through to ready-to-build (RTB) status and successfully concluding project sales to large operators of utility-scale renewable energy projects. To date, Revolve has developed and sold over 1,550 megawatts of projects.

Revolve is targeting 5,000 megawatts of utility-scale projects under development in the U.S., Canada and Mexico, and in parallel is rapidly growing its portfolio of revenue-generating DG assets.

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