Mr. Fraser Atkinson reports

GREENPOWER ANNOUNCES RESULTS OF ANNUAL GENERAL AND SPECIAL MEETING, APPOINTMENT OF OFFICERS, STOCK OPTION GRANTS AND APPOINTMENT OF INVESTOR RELATIONS REPRESENTATIVE

Greenpower Motor Company Inc. has released the results of the annual general and special meeting that was held on March 27, 2024.

The shareholders elected all of management's director nominees, being Mark Achtemichuk, Fraser Atkinson, Malcolm Clay, Cathy McLay, David Richardson and Brendan Riley.

The shareholders also reapproved the company's 2022 equity incentive plan and appointed BDO Canada LLP as the company's auditor for the ensuing fiscal year.

The 2022 equity incentive plan includes a 10-per-cent rolling stock option and 2,499,116 common shares for performance-based awards. Shareholder approval of the plan must be obtained annually at the company's annual general meeting. In addition, the plan must be submitted to the TSX Venture Exchange for review and acceptance on an annual basis.

Following the meeting, the directors of the company appointed the following officers of the company for the ensuing year: Mr. Atkinson as chairman and chief executive officer, Mr. Riley as president, and Michael Sieffert as chief financial officer and corporate secretary.

In addition, after the meeting, the company granted 420,000 incentive stock options to the four independent directors and three officers of the company, 150,000 incentive stock options to employees of the company, and 35,000 stock options to two consultants. The stock options are subject to the approval of the TSX-V and are exercisable for a period of five years at a price of $2.72 per share. Each director and the chief financial officer were granted 60,000 stock options that vest in increments beginning four months after the grant date, and the stock options will be fully vested one year after the grant date. For the employees and the consultants, the stock options vest in increments beginning four months after the grant date, and the stock options will be fully vested three years after the grant date.

The company has entered into an agreement to appoint Redchip Companies Inc. (RC) as an investor relations representative for Greenpower. The agreement was entered into on Feb. 26, 2024, and has a term of six months. Under this agreement, RC will provide services, including assistance preparing investor marketing material, communicating with and marketing to potential investors, shareholders and media contacts and Greenpower will pay RC a monthly fee of $10,500 (U.S.) plus reimbursement of preapproved costs for these services.

About Greenpower Motor Company Inc.

Greenpower designs, builds and distributes a full suite of high-floor and low-floor all-electric medium and heavy-duty vehicles, including transit buses, school buses, shuttles, cargo vans, and a cab and chassis. Greenpower employs a clean-sheet design to manufacture all-electric vehicles that are purpose built to be battery powered with zero emissions while integrating global suppliers for key components. This OEM (original equipment manufacturer) platform allows Greenpower to meet the specifications of various operators while providing standard parts for ease of maintenance and accessibility for warranty requirements. Greenpower was founded in Vancouver, Canada, with primary operational facilities in Southern California. Listed on the TSX Venture Exchange since November, 2015, Greenpower completed its U.S. initial public offering and Nasdaq listing in August, 2020.