Mr. Fraser Atkinson reports

GREENPOWER MOTOR COMPANY ANNOUNCES PRICING OF PUBLIC OFFERING

Greenpower Motor Company Inc. has priced its underwritten public offering of three million shares of its common stock at a public offering price of $1 (U.S.) per share, for gross proceeds of $3-million (U.S.), before deducting underwriting discounts, commissions and offering expenses. All of the shares of common stock are being offered by the company. In addition, the company has granted the underwriters a 45-day option to purchase up to an additional 450,000 shares of common stock at the public offering price less discounts and commissions to cover overallotments. The offering is expected to close on Oct. 30, 2024, subject to satisfaction of customary closing conditions.

The company intends to use the net proceeds from the offering primarily for the production of electric vehicles, working capital and general corporate purposes.

ThinkEquity is acting as sole book-running manager for the offering.

The securities will be offered and sold pursuant to a shelf registration statement on Form F-3 (file No. 333-276209), including a base prospectus, filed with the U.S. Securities and Exchange Commission on Dec. 21, 2023, and declared effective on Feb. 2, 2024. The offering will be made only by means of a written prospectus. A prospectus supplement and accompanying prospectus describing the terms of the offering will be filed with the SEC on its website. Copies of the prospectus supplement and the accompanying prospectus relating to the offering may also be obtained, when available, from the offices of ThinkEquity, 17 State St., 41st floor, New York, N.Y., 10004.

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 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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