Mr. Fraser Atkinson reports

GREENpower ANNOUNCES RECEIPT OF DETERMINATION LETTER FROM NASDAQ

Greenpower Motor Company Inc., on Aug. 27, 2025, received a determination letter from the staff of Nasdaq listing qualifications, stating that the company has not regained compliance with Nasdaq listing Rule 5550(a)(2). The letter stated that, unless the company requests an appeal of this determination no later than 4 p.m. Eastern Time on Sept. 3, 2025, the staff has determined that the company's common shares will be scheduled for delisting from the Nasdaq Capital Market and will be suspended at the opening of business on Sept. 5, 2025, and a Form 25-NSE will be filed with the U.S. Securities and Exchange Commission, which will remove the company's common shares from listing and registration on the Nasdaq Stock Market. The company is requesting a hearing to appeal this determination.

The letter also noted that on Feb. 27, 2025, the staff notified the company that, for the previous 30 consecutive business days, the bid price of the company's common shares had closed at less than $1 (U.S.) per share and, as a result, did not comply with the rule, and, in accordance with Nasdaq listing Rule 5810(c)(3)(A), the company was given 180 calendar days, or until Aug. 26, 2025, to regain compliance with the rule. The letter stated that the company is not eligible for a second 180-day period to comply with the rule because the company does not comply with the $5-million (U.S.) minimum stockholders' equity initial listing requirements for the Nasdaq Capital Market.

In addition, the letter noted that, on Aug. 15, 2025, staff notified the company that it did not comply with Nasdaq listing Rule 5550(b) and requested the company submit a plan to regain compliance with the equity rule no later than Sept. 29, 2025. The letter further noted that pursuant to Nasdaq listing Rule 5810(d)(2), this deficiency serves as a separate and additional criteria for delisting, and, as such, the staff will not entertain a plan of compliance and the company should also address this concern before a hearing panel if it appeals the staff's determination.

The company intends to request a hearing before the panel to appeal the letter. A hearing request will stay the suspension of the company's common shares and the filing of the Form 25-NSE pending the panel's decision.

The company is diligently working to satisfy Nasdaq's requirements in a timely manner. If the company's common shares cease to be listed for trading on the Nasdaq Capital Market, the company would expect that its common shares would be traded in the United States on one of the three tiered marketplaces of the OTC Markets Group in addition to the TSX Venture Exchange in Canada.

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 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.

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