Mr. Steve Marshall reports

REVOLUGROUP CANADA INC. AND SUITOR AGREE TO SUSPEND EQUITY INVESTMENT NEGOTIATIONS DUE TO AUGMENTED PROFESSIONAL COMMITMENTS OF MR. MARSHALL

Revolugroup Canada Inc. management has reluctantly chosen to suspend the continuing equity investment negotiations as a result of the temporary unavailability of chief executive officer Steve Marshall. An untenable workload to which Mr. Marshall is currently subjected has resulted in an urgent director's resolution dated April 21. Due to Mr. Marshall's non-attendance, director Alfredo Manresa intervened on April 24, 2023, signing a sixth addendum to the binding MOU (memorandum of understanding) dated Jan. 5, 2023. Said mutually agreed sixth addendum suspends for up to one month, extendable for an equal term, the continuing negotiations surrounding a planned share equity acquisition by a European financially regulated entity allied to a United Arab Emirates-based financial consultancy firm. The company issues the current news release in conformity with Policy 85, Section B of the Securities Act as it pertains to "disclosure of material change."

Mr. Marshall's untenable workload commencing March 17, 2023, Mr. Marshall has struggled to combine a typical intense workload with augmented requirements emanating from Canadian capital markets regulators. The intensity of these requests has reached a climax triggering unsustainably amplified professional duties due to petitions, clarifications, phone calls, legal counsel deliberations and response deadlines. The well-being of the company's staff always remains a No. 1 priority. Conclusively, surmounting and continued Canadian capital markets regulatory requests have regrettably impacted Mr. Marshall's ability to devote sufficient time and concentration to concluding the current intricate equity investment for the company's shareholders.

As such, upon diligently studying the protracted nature and potential intensity of the underlying Canadian regulatory requests, Revolugroup executive management voted unanimously on April 21 to authorize Mr. Marshall to take time out from the present negotiations to focus exclusively on the recent, imperative and recurrent Canadian capital markets regulatory requisitions. As a result, Mr. Manresa discussed with the suitors today, who concurred that since the negotiation's inception, Mr. Marshall had been the company's crucial protagonist and key negotiator, displaying unique knowledge of the current transaction. As such, the suitors agree that it would not be prudent and is probably ill-advised to attempt to conclude this difficult stage of the final negotiations in the absence of Mr. Marshall.

Faced with this unexpected reality, all parties agreed to suspend the equity investment negotiations for an initial term of up to one month ending at midnight on May 23, 2023. The suspension period shall be subject to an automatic extension unless the underlying motives for Mr. Marshall's unavailability remain unchanged. The parties further agree that if before the date mentioned herein, and at any time, Mr. Marshall's current and projected workload reduces as a result of the conclusion of the Canadian regulatory imperatives, thus permitting his direct and immediate reincorporation into the negotiations, the parties pre-emptively agreed to immediately recommence negotiations within 72 hours of said notification, diligently taking the conclusive steps to accomplish the present pending equity investment as soon as possible.

United States Florida Office of Financial Regulation MSB licence extended

The company is pleased to announce that the Revolugroup USA Inc. (doing business as RevoluPAY) granted money transmitters part II licence with expanded implicit regulatory approval for part III financial activities by the Florida Office of Financial Regulation has received approval of extension until April 30, 2025.

About RevoluPAY

The company's flagship neo-banking technology is RevoluPay, the Apple and Android multinational payment app. Conceived entirely in-house, RevoluPay features proprietary, sector-specific technology of which the resulting source code is the company's intellectual property. RevoluPay's built-in features include remittance payments, forex (foreign exchange), crypto-to-fiat exchange, retail and hospitality payments, real estate payments, pay-as-you-go phone top-ups, gift cards and on-line credits, utility bill payments, gaming credits, leisure payments, and travel payments. RevoluPay is aimed squarely at the worldwide multibillion-dollar open-banking sector, cross-border forex payments and plus-$595-billion family remittance market. RevoluPay is operated by the European wholly owned subsidiary RevoluPay EP SL, situated in Barcelona. RevoluPay is a licensed U.S. MSB (money services business), Canadian FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) and European PSD2 payment institution (No. 6900), under the auspices of European Union Directive 2015/2366, with EU 27-country passporting, and an official issuer of Visa cards and authorized Visa affiliate member. Revolugroup Canada controls five wholly owned subsidiaries on four continents.

About Revolugroup Canada Inc.

Revolugroup Canada is a multiasset, multidivisional, publicly traded Canadian company deploying advanced technologies in banking, mobile apps, money remittance, cross-border forex payments, mobile phone top-ups, e-gaming, health care payments, e-sports, invoice factoring, on-line travel, vacation resort, blockchain systems and fintech (financial technology) app sectors.

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