Revolve Announces Grant of Deferred Share Units

VANCOUVER, BC / ACCESSWIRE / March 4, 2024 / Revolve Renewable Power Corp. (TSXV:REVV)(OTCQB:REVVF) ("Revolve" or the "Company"), a, North American owner, operator and developer of renewable energy projects, announces the grant of Deferred Share Units ("DSUs") to Company's directors effective March 1, 2024. A total of 1,140,421 DSUs have been granted under the Company's omnibus equity incentive plan adopted on July 6, 2022 (the first and only DSUs granted under this plan). 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 DSU's vest one year from the date of grant and have been granted for the following periods:

• A total of 48,323 DSUs for the third quarter 2022 (Q3 2022) and fourth quarter 2022 (Q4 2022) at a deemed price of C$0.50 per share;
• A total of 263,947 DSUs for Financial Year 2023 (FY 2023) at a deemed price of C$0.50 per share; and
• A total of 828,151 DSUs for the first quarter 2024 (Q1 2024) and second quarter (Q2 2024) at prices of C$0.33 per share and C$0.29 per share, respectively.

Going forward, the Company intends to issue DSUs at the end of each quarter in lieu of cash director's fees.

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 with a portfolio of approx. 3070MW under development. The Company has a second division, Revolve Renewable Business Solutions which installs and operates sub 20MW "behind the meter" distributed generation (or "DG") assets. Revolve Renewable Business Solutions currently has an operating portfolio of 6MW with an additional 3MW under construction phase and 146MW under development.

Revolve has an accomplished management team with a demonstrated track record of taking projects from "greenfield" through to "ready to build" (or "RTB") 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.

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 (distributed generation) assets.

For further information contact:

Steve Dalton, CEO
[e-mail]

Or

Sunita Prasad