Mr. Fraser Atkinson reports

GREENPOWER ANNOUNCES PROPOSED SHARE CONSOLIDATION

Greenpower Motor Company Inc. intends to complete a consolidation of its issued and outstanding common shares on the basis of one new share for every 10 currently outstanding shares.

It is anticipated that the consolidation will reduce the number of outstanding shares of the company from 30,462,084 shares to approximately 3,046,208 postconsolidated shares, subject to adjustment for rounding. The consolidation is being undertaken to regain compliance with Nasdaq listing rules requiring a minimum bid price for the company's shares of $1 per share. The consolidation is subject to approval by the TSX Venture Exchange.

The company does not intend to change its name or its current trading symbol in connection with the proposed consolidation. The effective date of the consolidation will be announced in a subsequent news release.

No fractional postconsolidated shares will be issued as a result of the consolidation. Shareholders who would otherwise be entitled to receive a fraction of a postconsolidated share will be rounded up to the nearest whole number of postconsolidated shares, and no cash consideration will be paid in respect of fractional shares.

The exercise price and number of shares of the company, issuable upon the exercise of outstanding options and warrants and conversion of outstanding convertible debentures, will be proportionally adjusted upon the implementation of the proposed consolidation in accordance with the terms thereof.

The company also announces that, on Aug. 15, 2025, it received a written notice from the listing qualifications staff of Nasdaq Stock Market notifying the company that it no longer complies with Nasdaq listing Rule 5550(b)(1) due to the company's failure to maintain a minimum of $2.5-million (U.S.) in stockholders equity or any alternatives to continued listing requirements.

Nasdaq's notice has no immediate effect on the listing of the company's common shares on Nasdaq Capital Market. Under the rules of Nasdaq, the company has 45 calendar days, or until Sept. 29, 2025, to provide Nasdaq with a plan to regain compliance with the minimum stockholders equity requirement. If Nasdaq accepts the company's plan, Nasdaq may grant an extension of up to 180 calendar days from the date of the notice, or until Feb. 11, 2026, to evidence compliance with the minimum stockholders equity requirement. The company intends to provide Nasdaq with a plan on or before Sept. 29, 2025. However, there is no assurance that the company will be able to regain or maintain compliance with the continued listing requirements of Nasdaq.

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 van, 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 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 Toronto Stock Exchange since November, 2015, Greenpower completed its U.S. initial public offering and Nasdaq listing in August, 2020.

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