Mr. Steve Dalton reports

REVOLVE STRENGTHENS EXECUTIVE MANAGEMENT TEAM

Revolve Renewable Power Corp. has enhanced its senior management team and board of directors, which will help position the company for its next phase of growth and continue to build its senior management presence in the Canadian market.

"Revolve is strengthening our executive management team and board of directors as part of our strategic growth plan," said chief executive officer Steve Dalton. "Revolve has made significant progress developing utility-scale wind, solar, hydro and battery storage projects in the U.S., Canada and Mexico and these appointments will facilitate even greater progress and growth. Enhancing our leadership team will allow us to capitalize on the growing opportunities we see in the utility and distributed generation renewable energy sector."

Executive chairman: Mr. Dalton, the current CEO of Revolve, will transition to the role of executive chairman and continue to remain activity involved in the day-to-day management of the business. This change in role will facilitate Mr. Dalton focusing on the company's key strategic objectives and initiatives, particularly as the company rapidly progresses toward having its first utility scale projects at ready-to-build stage in the United States next year. Roger Norwich, the current chairman of the company, will step down from this position but will remain an active non-executive director of the company. Mr. Norwich has led the company as chairman since it was founded in 2012, providing strong support and guidance to the management team. The company looks forward to his continued contribution as a non-executive director of the company.

Chief executive officer: The company is also pleased to announce the appointment of Myke Clark as CEO and director of the company. Mr. Clark is a corporate leader with more than 20 years of experience focused primarily on renewable energy, corporate finance and project development. Prior to joining Revolve, Mr. Clark was the CEO and director of a TSX Venture Exchange-listed solar energy company focused on the commercial and industrial solar sector in the United States and Canada, delivering strong growth and profitability. He also brings significant utility-scale wind energy development experience to Revolve, having held senior leadership positions with a Canadian wind energy developer where he was responsible for environmental assessment, first nations engagement and investor relations, and helped deliver hundreds of megawatts of wind projects from inception to construction. Mr. Clark also has several years of experience as a public affairs professional for several public mining companies and also spent the first decade of his career as a journalist. Mr. Clark holds an MBA from Simon Fraser University in British Columbia and will be based in the company's head office in Vancouver.

"I am honoured to be joining the Revolve team and I look forward to bringing my passion for renewable energy to the company," said Mr. Clark. "Revolve is perfectly positioned to take advantage of the global shift to renewable energy and I believe my project development, distributed generation and capital markets experience will help accelerate that growth. The prospects for renewable energy in general -- and Revolve in particular -- are extremely positive and I am thrilled to be joining this team as we execute on our focused strategy and deliver strong shareholder returns."

Chief operating officer: Omar Bojorquez, the current president of Revolve, is appointed as chief operating officer assuming specific responsibility for managing and building the company's internal operational structures and capabilities required to support its strategic objectives. This role will becoming increasingly important as the company continues to grow its operating portfolio of renewable energy projects, which brings with it higher levels of operating activity including new customers and team members.

Mr. Bojorquez, COO, commented: "Our expansion across Canada, the U.S. and Mexico, along with new renewable energy projects and energy efficiency solutions, paves the way for significant growth. As COO, I am committed to ensuring operational excellence, that our projects are executed flawlessly and that our team has the resources to excel. This strategic focus will enable us to create value and strengthen our position as leaders in renewable energy. I am confident that our combination of a strong development portfolio, operational assets and talented team will lead us toward a prosperous future. I look forward to sharing this journey with our stakeholders, demonstrating our commitment to our business strategy and sustainable growth."

Non-executive director: Jonathan Clare is retiring as a non-executive director of the company. Mr. Dalton, CEO, commented: "Jonathan has been a key member of the board of the company for over 10 years. His insights and experience, particularly in the Mexican market, proved to be hugely beneficial to the company over the years. I would like to thank him on behalf of the board for his support and contribution to Revolve."

In connection with Mr. Clark's appointment and pursuant to Revolve's stock option plan, the company issued Mr. Clark 500,000 stock options to acquire common shares of the company at an exercise price of 50 cents (an approximate 65-per-cent premium to current share price levels) with a term of three years. These stock options will fully vest after one year following his appointment. The stock options are governed by the company's stock option plan. Mr. Clark's appointment as CEO of the company is subject to acceptance and approval by the TSX Venture Exchange.

All of the executive management and board of director changes are effective Nov. 6, 2024.

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 U.S., Canada and Mexico. The company has a second division, Revolve Renewable Business Solutions, which installs and operates sub-20-megawatt behind-the-metre distributed generation 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 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 U.S., 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 U.S., Canada and Mexico, and in parallel is rapidly growing its portfolio of revenue-generating DG assets.

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