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Revolve Reports FY2025 Financial Results and Significant Progress on Late-stage Development Projects Across North America

Vancouver, BC, October 22, 2025 – Revolve Renewable Power Corp. (TSXV:REVV) (OTCQB:REVVF) (“Revolve” or the “Company”), a North American owner, operator and developer of renewable energy projects, reported its financial results for the year ended June 30, 2025 (“FY2025”). This earnings release should be read in conjunction with the Company’s consolidated financial statements and management’s discussion and analysis, which are available on the Company’s website at www.revolve-renewablepower.com and have been posted on SEDAR+ at www.sedarplus.ca. All amounts reported are in US dollars.

“Revolve recorded a 73% increase in recurring revenue from our 13-megawatt (“MW”) portfolio of operating assets while making key investments in the continued development of our project pipeline,” said CEO Myke Clark. “Our team continued to make significant progress on and investments into our pipeline of late-stage development projects with the goal of creating long-term value for shareholders. This revenue model – combining a growing recurring revenue stream with large project development – provides a stable foundation for growth.”

Key financial highlights (all figures reported in USD)

  • Total recurring revenue from operating assets of $2,241,357, an increase of 73% from recurring revenue of $1,292,297 in FY2024.
  • Total revenue of $3,983,226 for FY2025, compared to total revenue of $6,742,297 in FY2024. The decrease in total revenue is attributable to deferred consideration payments received in FY2024 from the ENGIE Bouse & Parker project sale transaction, which were not a feature of the FY2025 financials.
  • Net loss for FY2025 of $2,590,122, compared to net income of $2,602,510 in FY2024 as the Company continued to make key investments in its portfolio of late-stage development projects.
  • Energy Production of 15,747,489 kWh from operating assets compared to 8,616,916 kWh in FY2024, an increase of 83%.
  • Gross profit of $ 3,238,341, representing a gross profit margin of 81%. Gross profit decreased from $6,386,416 in the comparative period in F2024 due to the decrease in milestone payments from project asset sales.
  • Cash and security deposits on the balance sheet as at June 30, 2025, was $1,950,895.

Key business highlights

Develop, Own & Operate – Revolve develops, builds, owns and operates smaller utility scale projects as well as distributed generation projects to generate recurring revenue. This revenue stream, supported by a 13 MW operating portfolio, benefited from the full year impact of the Windriver Power Corporation acquisition in 2024 and the addition of the Colima Distributed Generation (“DG”) project in Mexico. These projects, in addition to the Company’s portfolio of operating DG projects in Mexico, form Revolve’s stable platform for future growth based on long-life, contracted renewable energy assets. Revolve made strong progress on the late stage 20 MW Vernal Battery Energy Storage System (“BESS”) development project in Utah, the 50 MW Primus Wind Project in Colorado and the 15.7 MW Bright Meadows solar project in Alberta, Canada.

Develop & Sell – Revolve develops large utility scale projects from greenfield to ready-to-build, at which point it sells the development rights to large utilities and independent power producers. The Company has benefited from the proceeds received during FY2023 and FY2024 from the sale of the Bouse & Parker solar and storage projects totaling 1,250 MW to ENGIE, which totalled $6.25m during these periods. Revenues from transactions such as this are difficult to predict in terms of timing and there were no payments received from the ENGIE transaction in FY2025. The Company remains optimistic that the remaining milestone payments from the ENGIE transaction, equating to between $40,000-$50,000 per MW, will be received in future periods.

During FY2025, the Company also made progress across several other projects in its Develop & Sell portfolio, in particular over 500MW of wind projects in Mexico. The Company’s decision to continue to invest in the development of these projects during FY2025 has placed the company in a good position as the Mexican government ramps up private sector investment in the renewable energy sector. By holding these assets through key de-risking milestones, Revolve is positioned to benefit from enhanced project valuations and a stronger overall portfolio that aligns with the Company’s long-term growth strategy. The Company continues to actively review and consider partnership and monetisation opportunities for these projects. Revolve also completed the sale of the Afton Solar & Storage project during the period, which was an early stage development project in the US.

During FY2025 and subsequent to the fiscal year-end, Revolve completed several transactions and achieved multiple project milestones across its development portfolio:

  • Revolve Expands Mexico Distributed Generation Business with New Partnership. On October 9, 2025, Revolve announced it has signed a partnership agreement dated October 8, 2025 with an experienced Engineer, Procure and Construct company (the “EPC Partner”) in Mexico to develop and build a new portfolio of distributed generation power solutions for commercial and industrial customers, targeting two initial portfolios of commercial projects totaling more than 5 MW of capacity. The EPC Partner has previously developed more than 50 MW of distributed generation solar projects and brings valuable expertise to the partnership.
  • Revolve Receives Approval from the Alberta Utilities Commission for the 15.7 MW Bright Meadows Solar Project. On September 15, 2025, Revolve, announced that its wholly-owned subsidiary, Revolve Meadows Solar GP Inc., has received Power Plant Approval (Decision 29985-D01-2025) from the Alberta Utilities Commission (“AUC”) Bright Meadows Solar Project (“Bright Meadows Project”). Located in in the County of Wetaskiwin, Alberta, approximately 80 km south of Edmonton, the Bright Meadows Project is a 15.7 MW solar power project that will generate enough renewable electricity to power more than 3,700 homes once operational. AUC approval is the key regulatory permit required for the Bright Meadows Solar Project and we are now moving forward on the final interconnection and construction planning for this project. Revolve would like to thank the County of Wetaskiwin, the local community and our partners for their support through the AUC process.
  • Revolve Signs Agreement to Acquire 30 MWp Solar Project in Canada. As announced on September 22, 2025, the Company has entered into a binding Letter of Intent (“LOI”) to acquire the assets related to the Project and will enter into an asset transfer agreement (“ATA”), subject to certain customary closing conditions. Following the AUC permit approval for the Company’s 15.7 MW Bright Meadows solar project, the Company has moved to secure a further late-stage development project in the province. The current intention is to have the Bright Meadows project ready to build and under construction in 2026, which will be followed by this 30 MWp project in 2027 creating a consistent pipeline of ‘Develop and Build’ projects in Canada.
  • CHP Project Asset Sale Transaction. On February 18, 2025, the Company announced the sale of a 3 MW combined heat and power project (the “CHP Project”) from its distributed generation portfolio for total cash consideration of $1.5 million. The CHP Project was originally acquired by Revolve in August 2022 as part of the $1.4m acquisition of Centrica Business Solutions Mexico S.A. de C.V. Revolve regularly assesses its assets to determine optimal capital allocation – in the case of the CHP Project, the Company took the opportunity to monetize this asset and reinvest that capital into higher return near-term opportunities.

The Company also announces the grant of Deferred Share Units (“DSUs”) to Company directors effective October 22, 2025. A total of 401,585 DSU’s have been granted under the Company’s Deferred Share Unit Plan adopted on July 6, 2022. 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 their position with the Company. The DSUs vest one year from the date of grant. The DSUs were granted for Q4 F2025 at a price of C$0.23 per share. The Company issues DSUs at the end of each quarter in lieu of cash director’s fees to preserve working capital for project development initiatives.

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 20 megawatt (“MW“) “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.

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 Company’s business objectives and project development goals, including its objective of developing 5,000MW of utility-scale projects in the US, Canada and Mexico; statements with respect to the Offering, including the receipt of the final approval from the TSXV and the use of proceeds raised under the Offering.

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 under the Company’s profile 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.

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