Mr. Steve Marshall reports

REVOLUGROUP CANADA INC. ANNOUNCES CEO'S RESIGNATION DUE TO HEALTH REASONS

Revolugroup Canada Inc. chief executive officer Steve Marshall has resigned due to health reasons.

The board has reviewed comprehensive medical history dating back to November, 2022, demonstrating continuous inquiries into a pulmonary pathology associated with suspected chronic obstructive pulmonary disease alleviated by doctor-prescribed Symbicort. Despite mandated vaccinations and correctly administered boosters, Mr. Marshall suffered three particularly aggressive bouts of COVID-19 between January, 2020, and July, 2022. Due to the recent worsening of symptoms, physicians have not ruled out long COVID. Under a consensus medical recommendation, the latest medical reports show that Mr. Marshall recently traveled from Panama to Europe to consult with an internationally recognized pulmonologist on July 13, 2023. While the specialist physician's tests continue on Aug. 4, Mr. Marshall must immediately reduce stress and rest. Consequently, the board accepts his resignation after a thorough evaluation of Mr. Marshall's persistent health condition, medical records and the uncertain prognosis of his recovery.

Mr. Marshall has been a key figure in guiding the company's growth and success, and the board of directors expresses deep gratitude for his invaluable contributions. However, in light of the circumstances surrounding his health, Mr. Marshal has made the difficult decision to step down from his position, effective immediately.

Mr. Marshall joined the company in 2016 and served as chief executive officer for over seven years. He oversaw and led the company's transformation from a mining issuer to an international central bank-licensed Neobank and European Union-licensed financial institution No. 6900 during that time. Mr. Marshall spearheaded expansion into new markets via the launch of the company's fintech revenue verticals and closed-loop financial system. In February, 2023, the Canadian TSX Venture Exchange inducted Revolugroup into the top 50 performing companies. The prestigious top 50 honour situated Revolugroup in the top 3 per cent of companies listed on the TSX Venture Exchange, serving as a testament to the company's continued accomplishments. The board of directors acknowledges Mr. Marshall's dedication and leadership and is committed to building upon the foundation he has established.

The board has initiated a comprehensive search process to identify a successor who will lead the company into its next growth phase and ensure continuity in executing Revolugroup's strategic objectives. The search will include internal and external candidates, and the board aims to complete the process promptly.

"Steve Marshall has been an instrumental leader, and his departure due to health reasons deeply saddens us," said the board of Directors. "We extend our heartfelt support and best wishes to him and his family during this challenging time. As we move forward, we are committed to finding a successor who will build upon the strong foundation Steve Marshall has laid and steer Revolugroup towards continued success."

Revolugroup remains focused on its core business operations and is confident in the capabilities of its dedicated management team, which will assume interim leadership responsibilities during the transition period.

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 the 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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