Mr. Myke Clark reports

REVOLVE PARTNERS WITH VANCITY FOR REFINANCING OF ACQUISITION LOAN

Revolve Renewable Power Corp. has entered into a long-term loan facility with Vancity Capital Corp. to refinance a $3,968,800 acquisition loan originally provided by RE Royalties Ltd. to acquire the assets of Wind River Power Corp. The RE Royalties loan, entered into on Feb. 13, 2024, with a term of three years, has been repaid more than two years early without prepayment penalties. The transaction allows Revolve to further expand its group of financing partners in Canada, having recently closed several facilities with Export Development Canada.

"The refinancing of this acquisition loan is another important milestone for Revolve Renewable Power," said chief financial officer Tania Ontiveros. "First and foremost, we are proud to be working with Vancity -- an organization committed to social justice, environmental sustainability and community well-being. The Vancity loan is a critical step in our growth as it provides a lower cost of capital to Revolve and increases our cash flow from our operating assets. This efficient use of debt creates a streamlined process for future acquisitions and increases our ability to accelerate our growth."

The Wind River Power acquisition, which was completed in February, 2024, included three operating projects with a total net capacity of 23 megawatts and several development-stage assets. The operating assets, listed below, are fully integrated into Revolve's asset management operations and are generating stable, recurring cash flows for the company.

The Vancity loan transaction, which closed on Jan. 29, 2025, has a term of nine years and a fixed interest rate of 9.25 per cent and will be repaid with quarterly principal and interest payments from the cash flow from the company's Canadian operating assets. The new loan replaces an RE Royalties loan that carried an interest rate of 12 per cent. The company models financial returns from any given acquisition with the conservative debt interest rate connected to the acquisition loan, thereby maintaining financial upside through this type of refinancing with lower debt.

"This refinancing with Vancity validates our strategy of using flexible acquisition financing options from groups like RE Royalites to acquire operating assets and then replacing that debt with lower cost capital while increasing the long-term equity return for the company. We would like to thank RE Royalties for providing the financial support for this acquisition and we hope to work with them on future opportunities. This model allows for fast growth through the acquisition of operational assets, and we are actively assessing additional opportunities in the mid-size renewable project sector," said chief executive officer Myke Clark.

Under the terms of the original loan agreement, RE Royalties maintains a variable royalty of between 0.5 per cent to 1 per cent on gross revenues generated by certain operational projects for the life of the power purchase agreements for each relevant 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 (DG) assets. Revolve's portfolio includes the following:

• Operating assets: 12.78 megawatts (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 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.

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