Mr. Steve Dalton reports

REVOLVE ANNOUNCES GRANT OF DEFERRED SHARE UNITS AND INCENTIVE STOCK OPTIONS

Revolve Renewable Power Corp. has granted deferred share units (DSUs) to the company's directors, effective July 19, 2024. A total of 308,944 DSUs have been granted under the company's deferred share unit plan adopted on July 6, 2022. Each DSU entitles the holder to receive one share of the company or, in certain circumstances, a cash payment equal to the value of one share of the company, at the time the holder ceases to be a director of the company.

The DSUs vest one year from the date of grant and have been granted for the fourth quarter (Q4 2024) at a price of 33 cents per share. The company issues DSUs at the end of each quarter in lieu of cash director fees.

Additionally, the company had granted incentive stock options for an aggregate of 475,000 common shares, subject to regulatory approval, to officers, employees and consultants of the company under the stock option plan approved at the annual and special meeting held on Dec. 29, 2023.

The stock options are exercisable at a price of 50 cents per share. The options will vest one year from the date of grant and will expire Aug. 30, 2027. A maximum of 10 per cent of the company's issued and outstanding shares are reserved for issuance under the company's 10-per-cent stock option plan. The options, and any common shares issued upon exercise of the stock options, are subject to a four-month resale restriction.

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. The company has a second division, Revolve Renewable Business Solutions, which installs and operates sub-20-megawatt behind-the-meter distributed generation (DG) assets. Revolve's portfolio includes the following:

• Operating assets: 11 megawatts (net) of operating assets under long-term power purchase agreements across Canada and Mexico covering wind, solar, battery storage and hydro generation;
• Under construction: a three-megawatt CHP (combined heat and power) project and a 450-kilowatt-peak rooftop solar project that are both under construction and expected to be operational later this year;
• Development: a diverse portfolio of utility-scale development projects across the United States, Canada and Mexico with a combined capacity of over 3,000 megawatts as well as a 140-megawatt-plus 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 megawatts of projects.

Going forward, Revolve is targeting 5,000 megawatts of utility-scale projects under development in the United States, Canada and Mexico and, in parallel, is rapidly growing its portfolio of revenue-generating DG assets.

We seek Safe Harbor.