Mr. Myke Clark reports

REVOLVE EXPANDS FINANCIAL PARTNERSHIP WITH EXPORT DEVELOPMENT CANADA

Revolve Renewable Power Corp. has expanded the company's account performance security guarantee (APSG) facility with Export Development Canada (EDC). The expanded APSG with EDC has increased from $2.9-million (U.S.) to $4.5-million (U.S.).

The increased APSG facility, which closed on Jan. 21, 2025, is being provided in support of an interconnection financial security letter of credit for the 20 MW (megawatt)/80 MWh (megawatt-hour) Vernal battery energy storage system (BESS) in the United States in the amount of $1.81-million (U.S.).

The APSG allows Revolve to issue letters of credit with the company's financial institution without putting up cash collateral, providing the company with better access to cash and working capital.

"The expansion of this EDC facility is another great example of the progress Revolve is making as we accelerate our project development initiatives," said chief executive officer Myke Clark. "These structures contribute to a stronger corporate financial structure by freeing up working capital that can be utilized for expansion and growth. We are proud to be working with EDC to increase opportunities for export growth and believe the potential for continued growth in the renewable energy sector is significant."

On April 22, 2024, the company announced that it had completed the interconnection process for the 20 MW/80 MWh Vernal battery storage project and has signed an interconnection agreement with PacifiCorp. Completion of this milestone paves the way for the project to complete the remaining permitting works with a target of being "ready to build" in late 2025. The EDC APSG is being utilized for the interconnection bond on the project.

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 assets. Revolve's portfolio includes the following:

• Operating assets: 12.78 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 United States, Canada and Mexico with a combined capacity of over 3,000 MWs, as well as a 140 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 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.

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