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GreenPower Motor Company: Recent Corporate Developments

GreenPower Motor Company Inc., listed on both Nasdaq (GP) and TSXV (GPV), is an innovator in all-electric, purpose-built vehicles designed for a variety of sectors, including cargo delivery, shuttle service, and school transportation. The company has recently announced important updates regarding its investor relations and its standing with the Nasdaq stock exchange.

Investor Relations Update

On February 26, 2024, GreenPower appointed RedChip Companies, Inc. as its Investor Relations Representative. This strategic partnership, initially agreed for a six-month term, has transitioned into a month-to-month arrangement. Under this collaboration, RedChip plays a crucial role in enhancing GreenPower's communication with potential investors, developing promotional marketing materials, and engaging with media outlets. For these services, GreenPower compensates RedChip at a rate of $10,500 per month, along with reimbursement for approved expenses. It is notable that RedChip operates as an independent advisor, without any direct or indirect interests in GreenPower or its securities.

Nasdaq Compliance Notice

In a recent communication dated February 27, 2025, GreenPower received notification from Nasdaq that its share price has fallen below the mandatory minimum of $1 for the last 30 consecutive business days. This status indicates a breach of Nasdaq's listing requirements, which could jeopardize the company's listing if not addressed. However, the company has a defined pathway to regain compliance. Should the share price exceed $1 for a minimum of 10 consecutive trading days within the next 180 days, GreenPower will remedy the situation. Alternatively, if compliance isn’t achieved within this timeframe, the company may qualify for an additional 180 days provided it meets other initial listing standards.

GreenPower's Business Model and Future Outlook

GreenPower is committed to leading the charge in electric vehicle manufacturing. Its lineup includes an array of vehicles such as transit buses, school buses, and shuttles, all designed with a zero-emission framework. Utilizing clean-sheet design philosophy, the company leverages global partnerships with suppliers to ensure the provision of key components that meet industry standards while maintaining ease of maintenance and reliability for operators.

Founded in Vancouver, Canada, with primary operations in Southern California, GreenPower was listed on the Toronto exchange in November 2015 before moving to NASDAQ in August 2020. Its ongoing mission is to foster sustainable transportation solutions that contribute to environmental stewardship without compromising on performance or safety.

Forward-Looking Statements

It is essential to recognize that this update may contain forward-looking statements pertaining to GreenPower's operations, future growth, and current expectations of market conditions. Such statements involve inherent risks and uncertainties, often making it challenging to predict actual outcomes accurately. Stakeholders and potential investors are advised to consider these factors carefully and refrain from placing undue reliance on forward-looking predictions.

For more insights and ongoing developments, stakeholders can visit GreenPower Motor Company's official website.
Contact details for inquiries include:

• - Fraser Atkinson, CEO: (604) 220-8048
• - Michael Sieffert, CFO: (604) 563-4144

This update signifies GreenPower's readiness to tackle challenges while striving to sustain its position as a leader in the sustainable vehicle market.