Mr. Myke Clark reports

REVOLVE EXPANDS MEXICO DISTRIBUTED GENERATION BUSINESS WITH NEW PARTNERSHIP

Revolve Renewable Power Corp. has signed a partnership agreement dated Oct. 8, 2025, with an experienced engineer, procure and construct company (the EPC partner) in Mexico to develop and build a new portfolio of distributed generation power solutions for commercial and industrial customers. The EPC partner has previously developed more than 50 megawatts of distributed generation solar projects and brings valuable expertise to the partnership.

Under the partnership agreement, Revolve and the EPC partner have agreed to target two initial portfolios of commercial projects totalling more than five megawatts (MW) of capacity. The partnership is a key element of Revolve's broader mandate to increase the size of the company's operating asset portfolio in Mexico by partnering with EPC groups that have access to pipelines of late-stage, investment-ready distributed generation projects that deliver innovative power solutions.

"This is a watershed partnership for Revolve as we join forces with a new partner to advance this portfolio of distributed generation projects in Mexico," said chief operating officer Omar Bojorquez. "The aim of the partnership, and others we are pursuing, is to accelerate the development and deployment of commercial power solutions throughout Mexico. This partnership has the potential to accelerate our distributed generation pipeline and bring a meaningful number of projects to us for assessment and execution."

Following the signing of power purchase agreements of any of the target projects, the company intends to own and operate the projects and will provide financial forecasts once definitive agreements are signed. The partnership consists of a 70-per-cent ownership interest for Revolve and 30 per cent for the EPC partner, with economic benefits being shared on a pro-rata basis on anything over and above Revolve's required rate of return. The EPC partner will contribute project opportunities and construction services to the partnership, and Revolve will provide project finance and operating expertise, with the economics determined on a project-by-project basis.

With the growing regulatory certainty in Mexico and a lack of investment in the electricity network over the last number of years companies are increasingly focusing on reducing their energy costs and improving energy resiliency. Mexico's distributed generation market increased by 32 per cent in 2024, reaching 4.4 gigawatts (GW) from 3.4 GW, primarily driven by solar installations, according to BNamericas. This growth is occurring as companies seek on-site power solutions and decarbonization to alleviate strain on the national power grid. With a history of operating in Mexico since 2012, Revolve is well positioned to capitalize on this growth.

"As part of the agreement, the EPC partner will originate, develop and construct projects, and Revolve will finance, own and operate them under long-term power purchase agreements with commercial customers. We are confident this partnership will result in additional distributed generation opportunities for Revolve fueled by increasing electricity demand growth from data centres, electrification and industrial onshoring," concluded Mr. Bojorquez.

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, hydro and battery storage projects in the United States, Canada and Mexico. Revolve also installs and operates sub 20-megawatt "behind the meter" distributed generation (or DG) assets. Revolve's portfolio includes the following:

• Operating assets: 12 MW (net) of operating assets under long-term power purchase agreements across Canada and Mexico covering wind, solar, battery storage and hydro generation;
• Development: a diverse portfolio of utility-scale development projects across the U.S., Canada and Mexico with a combined capacity of over 3,000 MW as well as a 140-plus MW distributed generation portfolio that is under development.

Revolve has an accomplished management team with a demonstrated record of taking projects from greenfield through to ready-to-build 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 MW of projects.

Going forward, Revolve is targeting 5,000 MW 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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