Arizona Tribune - Revolve Highlights Operational Progress with Several Project Milestones Targeted for the Remainder of 2025

"We are pleased with the meaningful progress achieved across our business in recent months," said Myke Clark, CEO of Revolve Renewable Power. "Utility scale development activity in Mexico continues to accelerate, our Alberta solar project is progressing through the regulatory process, and our distributed generation pipeline is growing at a strong pace. Combined with our core operating assets that continue to generate stable revenue streams, these achievements underscore the strength of our strategy and position us for an exciting close to 2025 and continued momentum into 2026."

Mexico Wind Developments - El24 and Presa Nueva

Revolve continues to advance development work on its two flagship wind projects in Mexico: The El24 and the Presa Nueva projects. Combined, these projects represent over 500 MW of planned capacity. Both projects benefit from proximity to existing transmission infrastructure and a growing market demand for renewable power in Mexico. Progress in recent months has included:

• Further progress on the interconnection application for El24 including a positive meeting with CENACE facilitated by the Tamaulipas State government.

• Completion of an updated energy yield assessment to optimize the project design for the continued improvement in turbine technology.

• Ongoing turbine layout and interconnection design optimization.

• Strengthening of land agreements and site control.

• Progress on the rights of way required for the Presa Nueva transmission line.

In the coming months Revolve anticipates several key milestones:

• Advancing El24 through the next stage of the interconnection process.

• Resubmission of the interconnection application for Presa Nueva.

• Engagement with local communities and stakeholders to support long-term project success.

• Mexican market assessment to determine the optimal timing for the monetization of El24 and Presa Nueva.

El24 and Presa Nueva are two key examples of Revolve's "develop and sell" model where the Company progresses large utility projects and positions them for sale or joint venture to larger asset owners. These development fees are then reinvested into new projects for development or smaller assets the Company owns and operates.

Bright Meadows Solar Project - Alberta

The Bright Meadows Solar Project, a proposed 15.7 MW solar project located in central Alberta, is pending a decision from the Alberta Utilities Commission ("AUC"). The project is progressing through the regulatory process, which includes technical and environmental assessments as well as additional community engagement. At 15.7 MW, Bright Meadows represents one of the Company's largest late-stage renewable energy projects that Revolve intends to own and operate.

Bright Meadows is strategically located to serve Alberta's growing electricity demand and aligns with the province's strong market fundamentals for renewable generation. Alberta remains one of North America's most active jurisdictions for renewable energy investment due to its deregulated power market and robust electricity demand growth.

If approval is secured from the AUC, Revolve will advance the project toward construction readiness, with the goal of securing a power purchase agreement ("PPA") and project financing. In the coming months Revolve anticipates several key milestones:

• A decision on AUC application.

• Phase 1 of the geotechnical campaign is expected to commence after an AUC decision and will involve collaborating with professional engineers to determine the base soil characteristics of the site, and to inform the pile pull testing that will commence during phase 2 of the campaign.

• Revolve will initiate a Request for Proposals ("RFP") in the coming months to determine which partner will manage and execute the construction of Bright Meadows. Preliminary discussions with potential construction partners have already been initiated and the RFP process will ensure that the most reliable and efficient partner will be selected.

• The Company also anticipates initiating a process to secure a PPA for the Bright Meadows solar project.

Distributed Generation Project Pipeline

With the growing regulatory certainty in Mexico and limited investment in the electricity network over the last number of years, companies are increasingly focusing on reducing their energy costs and improving energy resiliency. This is leading to increased demand and an enhanced opportunity in the Mexican Distributed Generation ("DG") market. Revolve has been working on improving our new project/customer acquisition strategy over the course of this year, which has led to a significant increase in our DG development portfolio as well as the quality of opportunities we are seeing.

Mexico's DG market increased by 32% 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. The Company has built its sales pipeline of potential DG projects to 195 MW, with 20 MW of that considered late-stage development opportunities. Revolve is working diligently to convert those opportunities into Letters of Intent and, ultimately, projects Revolve would own and operate.

Operating Assets

Revolve's operating assets remain stable and continue to generate recurring revenue under long-term PPAs. At the Company's Hunter Creek Hydro and Sakwi Creek Hydro projects, team members have been working on annual maintenance during the summer months when water flow is lower and anticipate ramping up production as precipitation and water flows increase through the fall season. The Box Springs Wind Project in Alberta continues to operate as forecasted and remains a key element of the Company's operating fleet. The Company's portfolio of DG projects in Mexico continues to be optimized to ensure the projects are operating to their potential. Revolve is looking at potential expansions of operating sites as the result of new government regulations in Mexico that allow for DG projects up to 700 kilowatts ("kW"), up from the previous 500 kW limit.

"The remainder of 2025 promises to be a busy period for Revolve as we continue to advance our development stage renewable energy projects and advance our corporate strategy. With our diversified business model, we are able to focus our short-term efforts on Canada and Mexico while looking at longer term opportunities in the United States. Increasing demand for electricity combined with limited supply provides a strong macro environment for renewable energy," concluded Clark.

For further information contact:

Myke Clark, CEO
[email protected]
778-946-0072

About Revolve

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 US, Canada and Mexico. Revolve also installs and operates sub 20MW "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 US, Canada and Mexico with a combined capacity of over 3,000MWs as well as a 140MW+ distributed generation portfolio that is under development.

Revolve has an accomplished management team with a demonstrated track 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 1,550MW of projects.

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

Forward Looking Information

The forward-looking statements contained in this news release constitute ''forward-looking information'' within the meaning of applicable securities laws in each of the provinces and territories of Canada and the respective policies, regulations and rules under such laws and ''forward-looking statements'' within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 (collectively, ''forward-looking statements"). The words "will", "expects", "estimates", "projections", "forecast", "intends", "anticipates", "believes", "targets" (and grammatical variations of such terms) and similar expressions are often intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward looking statements in this press release include statements with respect to the proposed acquisition of the Project. This forward-looking information and other forward-looking information are based on our opinions, estimates and assumptions considering our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we currently believe are appropriate and reasonable in the circumstances. Despite a careful process to prepare and review the forward-looking information, there can be no assurance that the underlying opinions, estimates and assumptions will prove to be correct. Material factors underlying forward-looking information and management's expectations include: the receipt of applicable regulatory approvals; the absence of material adverse regulatory decisions being received and the expectation of regulatory stability; the absence of any material equipment breakdown or failure; availability of financing on commercially reasonable terms and the stability of credit ratings of the Company and its subsidiaries; the absence of unexpected material liabilities or uninsured losses; the continued availability of commodity supplies and stability of commodity prices; the absence of interest rate increases or significant currency exchange rate fluctuations; the absence of significant operational, financial or supply chain disruptions or liability, including relating to import controls and tariffs; the continued ability to maintain systems and facilities to ensure their continued performance; the absence of a severe and prolonged downturn in general economic, credit, social or market conditions; the successful and timely development and construction of new projects; the absence of capital project or financing cost overruns; sufficient liquidity and capital resources; the continuation of long term weather patterns and trends; the absence of significant counterparty defaults; the continued competitiveness of electricity pricing when compared with alternative sources of energy; the realization of the anticipated benefits of the Company's acquisitions and joint ventures; the absence of a change in applicable laws, political conditions, public policies and directions by governments, materially negatively affecting the Company; the ability to obtain and maintain licenses and permits; maintenance of adequate insurance coverage; the absence of material fluctuations in market energy prices; the absence of material disputes with taxation authorities or changes to applicable tax laws; continued maintenance of information technology infrastructure and the absence of a material breach of cybersecurity; the successful implementation of new information technology systems and infrastructure; favourable relations with external stakeholders; our ability to retain key personnel; our ability to maintain and expand distribution capabilities; and our ability to continue investing in infrastructure to support our growth.

Such uncertainties and risks may include, among others, market conditions, delays in obtaining or failure to obtain required regulatory approvals in a timely fashion, or at all; the availability of financing, fluctuating prices, the possibility of project cost overruns, mechanical failure, unavailability of parts and supplies, labour disturbances, interruption in transportation or utilities, adverse weather conditions, and unanticipated costs and expenses, variations in the cost of energy or materials or supplies or environmental impacts on operations, disruptions to the Company's supply chains; changes to regulatory environment, including interpretation of production tax credits; armed hostilities and geopolitical conflicts; risks related to the development and potential development of the Company's projects; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; the availability of tax incentives in connection with the development of renewable energy projects and the sale of electrical energy; as well as those factors discussed in the sections relating to risk factors discussed in the Company's continuous disclosure filings on SEDAR+ at sedarplus.ca. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned that given these risks, undue reliance should not be placed on these forward-looking statements, which apply only as of their dates. Other than as specifically required by law, the Company undertakes no obligation to update any forward-looking statements to reflect new information, subsequent or otherwise. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether because of new information, future events or otherwise, except as required by law.

Such statements and information reflect the current view of the Company. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.The forward-looking information contained in this press release represents the expectations of the Company as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company does not undertake to update this information at any time except as required in accordance with applicable laws.

"Neither TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."

SOURCE: Revolve Renewable Power Corp.

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P.Smith--AT