Mr. Erik Riveros reports

REVOLUGROUP ANNOUNCES LEADERSHIP CHANGES, TECHNOLOGICAL PARTNERSHIPS, AND NEW BUSINESS DEVELOPMENT OPPORTUNITIES

Revolugroup Canada Inc. has provided an update on recent developments that reflect the company's commitment to continued stability and growth.

Leadership changes at Revolupay EP SL

On Sept. 4, the board of directors unanimously agreed to make key structural changes within Revolupay to better support the development of the company's banking as a service model. These changes will enhance the company's ability to deliver impeccable service to enterprise and consumer clients while positioning Revolupay for long-term growth.

As part of this restructuring, Alfredo Manresa and Rocio Jimenez will transition their responsibilities for the day-to-day directorship of Revolupay to Yoel Rosenheck, a member of the board and internal chairman of Revolugroup, upon receiving authorization from the financial regulator. Both will assist in transitioning compliance services to a specialized company, ensuring a smooth and efficient handover. Revolugroup has engaged Herbert Smith Freehills to represent the company before Bank of Spain and to guide these management changes.

New leadership at Revolugroup USA Inc.

In line with the company's expansion of its banking as a service model, Daniel McCracken, a U.S. citizen residing in Florida, has been appointed as the new chief executive officer of Revolugroup USA. Mr. McCracken brings extensive experience in payment systems both in the United States and internationally, which will be instrumental in refining the company's commercial strategy, particularly in open banking services and ACH transfers.

Mr. McCracken's responsibilities will include ensuring that Revolugroup USA complies with all regulatory requirements, safeguarding the company's standing with regulatory bodies. He will also work closely with the board of directors and Revolupay to drive future growth. Revolugroup will provide further updates on these developments as they progress.

Technological partnership to strengthen Revolupay

To enhance its technological resources and reduce operational costs, Revolugroup is currently reviewing an opportunity to partner with a United Kingdom-based software development company that offers a comprehensive modular fintech platform. This platform will provide the tools and integration necessary to bolster Revolupay's banking as a service model.

The software, which is already approved and operational within the European Union, would allow Revolupay to launch fully automated banking services for companies and individuals across the European Union. Through this partnership, the company will also gain the ability to issue dedicated IBAN accounts in euros, U.S. dollars and British pounds, along with integrated MasterCard services for issuing and acquiring. Additionally, Revolupay will be able to operate independently with both Visa and MasterCard.

Potential business development opportunity in Bangladesh

Revolugroup has been approached by a group of international investors to explore discussions with Central Bank of Bangladesh as a result of the work of board member Mab Shahria. This opportunity aligns with Bangladesh's growing financial sector, particularly its peer-to-peer payment market, which has seen a compound annual growth rate of 20 per cent since 2018 and reached $395-billion (U.S.) in transaction volume.

To evaluate this opportunity, the board has appointed Erik Aaron Lara Riveros and Gavin McMillan to conduct initial due diligence and report their findings to the board.

Summary

The actions taken this week reinforce Revolugroup's dedication to strengthening its core subsidiaries, Revolupay and Revolugroup USA, while enhancing its technological resources and exploring growth opportunities in Bangladesh. These strategic measures aim to position the company for long-term success, operational excellence and increased shareholder value.

We seek Safe Harbor.