Mr. Steve Dalton reports

REVOLVE REPORTS Q2 FY2024 FINANCIAL RESULTS

Revolve Renewable Power Corp. has released its financial results for the three-month and six-month period ended Dec. 31, 2023. All amounts reported are in US dollars.

Steve Dalton, CEO of Revolve commented, "The major focus for the Company during the quarter was the proposed acquisition of WindRiver, which we're delighted to close in the last number of weeks. The successful closing of the private placement has also allowed us to continue to build out our DG portfolio with another 3.45MW expected to be operational over the coming months."

Key Business & Financial Highlights in Q2 2024

• Total revenues for the 3-month period to December 31, 2023, of US$130,882 consisting of electricity generation revenue from our operational DG portfolio. Total revenues for the 6-month period to the same date were US$1,330,762, which included the milestone payment received in August 2023 from the sale of the Parker Solar & Storage project.
• Renewable energy generation from the Company's operational DG portfolio was 547,421kWh for the 3-month period to December 31, 2023 and 995,454kWh for the 6 month period to December 31, 2023.During the quarter the Company announced the proposed acquisition of WindRiver Power Corporation ("WindRiver"), a Canadian based renewable energy operator and developer with interests in a number of operating hydro and wind projects as well as a hydro project development pipeline. This portfolio generated gross revenue of CAD$3,169,973 for the 6 month period to June 30, 2023 of which CAD$982,139 is attributable to WindRiver. The transaction was completed on February 13, 2024.
• Distributed Generation ("DG") assets under construction during the quarter consisted of a 3MW CHP project. This project has been fully installed with commissioning subject to ongoing permitting work. Progress continues to be made on this project with final commissioning targeted by the end of H1 2024. Post the quarter end the Company has also commenced construction on a new 450kWp rooftop solar project in Mexico, this project is also expected to be commissioned by the end of H1 2024.
• Distribution Generation assets under development reduced slightly to 146MW with a continued focus on converting this pipeline into signed power purchase agreements. A letter of Intent ("LOI") has been signed on a new DG project with a capacity of 1.77MW with a Power Purchase Agreement and EPC contract expected to be signed before the end of Q3 FY2024.
• Development work across our utility scale portfolio continues to be focused on the 80MWh/20MW Vernal BESS and 49.5MW Primus Wind in the US. Both projects are in the final stages of the interconnection process, which will be a material milestone once completed. We also continue to move development work forward on the 103.4MW El 24 and 400MW Presa Nueva wind projects in Mexico, where we are seeing signs of improving market conditions and growing interest in renewable power purchase agreements from large corporates.
• The Company's greenfield development activities in Canada resulted in the signing of a new 150MW solar development project in Saskatchewan post the quarter end. We intend on adding further new greenfield development projects in Canada and the US although limited transmission capacity and congested interconnection queues will see the Revolve being selective on what new development project are added to the portfolio.
• Net Loss for the quarter ending December 31, 2023, was US$421,257 compared with a Net Loss of US$186,060 for the quarter ending December 31, 2022. The Company recorded Net Income for the 6-month period to December 31, 2023 of US$500,519.Cash on balance sheet as at December 31, 2023 was US$1,353,618 following completion of the first two tranches of the private placement during November and December 2023.

Full Financial Statements and Management Discussion and Analysis can be found on the Company's website (https://revolve-renewablepower.com/financials/).

The Company has also issued a Q2 FY2024 Financial & Operating Results presentation, which can be found on the Company's website (https://revolve-renewablepower.com/financials/).

About Revolve

Revolve was formed in 2012 to capitalize on the growing global demand for renewable power. Revolve develops utility-scale wind, solar, hydro and battery storage projects in the US, Canada and Mexico with a portfolio of approx. 3070MW under development. The Company has a second division, Revolve Renewable Business Solutions which installs and operates sub 20MW "behind the meter" distributed generation (or "DG") assets. Revolve Renewable Business Solutions currently has an operating portfolio of 6MW with an additional 3MW under construction phase and 146MW under development.

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

Revolve is targeting 5,000MW of utility-scale projects under development in the US, Canada and Mexico, and in parallel is rapidly growing its portfolio of revenue-generating DG (distributed generation) assets.

We seek Safe Harbor.