LOS ANGELES, Calif. – GreenPower Motor Company Inc. (NASDAQ: GP) (TSXV: GPV) (“GreenPower”), a leading manufacturer and distributor of purpose-built, all-electric, zero-emission medium and heavy-duty vehicles serving the cargo and delivery market, shuttle and transit space and school bus sector, today announced the company has received three orders for 11 Type D all-electric, purpose-built, zero-emission BEAST school buses for school districts in Arizona, California and Oregon.

“As school districts continue to make the change from NOx emitting diesel school buses to a cleaner, healthier means of transporting students, school district transportation departments are pursuing the gold standard of the industry the GreenPower all-electric, purpose-built BEAST and Nano BEAST school buses,” said Paul Start, GreenPower’s Vice President of Sales School Bus Group. “With 2025 fast approaching, the GreenPower school bus order pipeline and production schedule are both at record levels with sales projections for next year set to eclipse the 2024 calendar year.”

The three orders announced today are:
From GreenPower’s exclusive California dealer Model 1 for seven BEASTs for the Los Banos Unified School District in Los Banos, California.
From GreenPower’s exclusive Arizona dealer RWC Group for two BEASTs for the Casa Grande Elementary School District in Casa Grande, Arizona.
From GreenPower’s exclusive Oregon dealer Peterson Trucks for two BEASTs for the Hood River County School District in Hood River, Oregon.

GreenPower’s BEAST is a purpose-built 40-foot Type D all-electric, zero-emission school bus with seating for up to 90 students. Designed from the ground up as an EV, it is a fully integrated structure that features a strong and corrosion resistant aluminum body made from extruded aluminum, manufactured by Constellium, seamlessly mated to a high strength steel Truss (bus) chassis. The complete flat floor design allows for adjustable track seating with no wheel wells in the passenger compartment, and the high floor keeps students out of the impact zone. Combined port charging is standard with Level 2 rates up to 19.2 kW and DC Fast Charging rates up to 85 kW, allowing for full charging in less than three hours.

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 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 exchange since November 2015, GreenPower completed its U.S. IPO and NASDAQ listing in August 2020. For further information go to www.greenpowermotor.com.

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HAINESPORT, N.J., – GreenPower Motor Company Inc. (NASDAQ: GP) (TSXV: GPV) (“GreenPower”), a leading manufacturer and distributor of purpose-built, all-electric, zero-emission medium and heavy-duty vehicles serving the cargo and delivery market, shuttle and transit space and school bus sector, today announced the appointment of Wolfington Body Company as its exclusive school bus dealer in New Jersey, Pennsylvania and Delaware and as a dealer for its Class 4 commercial line of EV trucks and vans in the same three states. As part of the appointment, Wolfington has purchased a Type A Nano BEAST Access school bus, a Type D BEAST school bus, an EV Star Passenger Van and an EV Star Stakebed Truck as demo units for the region. GreenPower delivered the EV Stars Passenger Van and EV Star Stakebed Truck to Wolfington on December 2, 2024.

During a press conference today at Wolfington’s Hainesport, New Jersey facility, Wolfington also announced it has received an order for seven GreenPower Type A Nano BEAST all-electric, purpose-built, zero-emission school buses for a local school district in New Jersey.

“Wolfington Body Company is a fifth-generation family-owned business that has been serving the transportation industry since 1876,” said GreenPower President Brendan Riley. “In addition to selling school buses and commercial vehicles, Wolfington is equipped with complete mechanical services and body shops to handle a vehicle’s entire lifecycle. Their parts department supplies thousands of parts with same-day delivery available in most areas. We are thrilled to welcome this superior dealer to the GreenPower network.”

“Wolfington history dates back to the horse and buggy days when the company built its first carriage, a buggy with such durability that it held up under the heavy use of doctors traveling their rounds,” said Richard Wolfington, Jr., Vice President of Wolfington Body Company. “Over the years Wolfington’s business has adopted to changing technology and the move to electric vehicles is a natural progression for our company. We are pleased to partner with a premiere purpose-built electric vehicle OEM like GreenPower to bring these school bus and commercial vehicle options to our customers in the three-state region.”

Joining Wolfington and GreenPower at the announcement were state Assemblywoman Andrea Katz and Hainesport Mayor Leila Gilmore, both of whom praised the new partnership and its benefits. “This type of news is exactly what I’m working toward in Trenton. Hainesport will benefit from this economically and each of us will breathe cleaner air,” Katz said. “School buses are an ideal use of EV technology and to know that the children at Burlington County Special Services School District will be among the first to benefit from this partnership is exceptional.”

“Me and my Green Team could not be happier to see Wolfington expanding right here in our community with EV technology that is healthier for school kids and beneficial to the environment and climate change,” Gilmore added. “This will bring more jobs and economic activity to Hainesport while at the same time helping reach our goals of sustainability.”

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 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 exchange since November 2015, GreenPower completed its U.S. IPO and NASDAQ listing in August 2020. For further information go to www.greenpowermotor.com.

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VANCOUVER, Canada, – GreenPower Motor Company Inc. (Nasdaq: GP) (TSXV: GPV) (“GreenPower” and the “Company”), a leading manufacturer and distributor of all-electric, purpose-built, zero-emission medium and heavy-duty vehicles serving the cargo and delivery market, shuttle and transit space and school bus sector, today reported its second quarter fiscal year 2025 results and provided an update on its manufacturing operations.

“GreenPower spent the quarter advancing the school bus production process at its West Virginia facility by setting up an oversized paint booth and establishing production stations to increase throughput in order to meet customer orders and demands,” said GreenPower President Brendan Riley. “The increase in production coupled with manufacturing process improvements is expected to result in higher gross profit margins and cost reductions on a per unit basis as throughput improves.”

Riley said that the Company has been systematically increasing its production workforce to provide for its growing production. “Putting the workforce in place and validating the manufacturing process is key to our efficiency, and production growth which is expected to drive cost savings on a per unit basis. With these in place, GreenPower will be able to attain its longer-term manufacturing goal of producing 20 school buses per month,” he said, noting that steady, measured growth, a foundation of GreenPower’s model, is critical for maintaining quality throughout the production process.

“The growth in production complements GreenPower’s sales strategy of focusing on states where there are money and mandates for electric school buses,” added Fraser Atkinson, CEO of GreenPower. “While we continue to manufacture and sell EV school buses for current orders and contracts under both state and federal programs, the future is more focused on states that have put policies and plans in place to provide a cleaner, healthier ride for students through the deployment of electric school buses. States like California and New York, and regions like the Southwest.”

During the second quarter of GreenPower’s fiscal year 2025, the manufacturing process was exhibited when the Company produced the first Type D BEAST all-electric, purpose-built, zero-emission school bus for the 37 BEAST order from the state of West Virginia from its South Charleston plant, which was delivered at the beginning of our current quarter. That was the second BEAST produced in the facility following the production of the Kanawha County bus purchased directly by the school district outside of the state order. Additional deliveries to fulfill the state order are planned to take place in the third and fourth quarters.

Second Quarter 2025 Highlights:
Generated revenues of $5.3 million for the three months ended September 30, 2024, an increase of 78% over the previous quarter.
Delivered 11 BEAST Type D all-electric school buses, six EV Star Cargo and EV Star Cargo Plus and five EV Star Passenger Vans.
Deferred revenue increased to $10.4 million, including the current portion of $7.5 million, which is expected to be realized over the next year.
At the end of the quarter GreenPower had working capital of $10.1 million including inventory of $31.7 million consisting of $9.3 million of finished goods, $18.6 million of work-in-process and $3.8 million of parts and components.
Received order for school buses under EPA’s Clean School Bus Program from the RWC Group for Arizona.
In October the Company completed an underwritten offering of 3,000,000 common shares raising gross proceeds of $3 million. The net proceeds from this offering are intended for the production of all-electric vehicles, including BEAST school buses and EV Star commercial vehicles, product development, with the remainder, if any, for general corporate purposes.

For additional information on the results of operations for the periods ended September 30, 2024 review the interim financial statements and related reports posted on GreenPower’s website as well as on www.sedar.com or filed on EDGAR.

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 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 exchange since November 2015, GreenPower completed its U.S. IPO and NASDAQ listing in August 2020. For further information go to www.greenpowermotor.com

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SOUTH CHARLESTON, W.Va., – GreenPower Motor Company Inc. (NASDAQ: GP) (TSXV: GPV) (“GreenPower”), a leading manufacturer and distributor of all-electric, purpose-built, zero-emission medium and heavy-duty vehicles serving the cargo and delivery market, shuttle and transit space and school bus sector, today announced that it has finalized the particulars for the order for 50 all-electric Type D BEAST and Mega BEAST and Type A Nano BEAST and Nano BEAST Access school buses for seven county school districts in West Virginia funded by the EPA Clean School Bus Program. The order is through GreenPower’s West Virginia dealer.

“EPA has previously awarded $18.5 million to purchase 50 GreenPower all-electric school buses and provide for the charging infrastructure associated with these purpose-built EVs,” said GreenPower President Brendan Riley. He noted the increase from the original 47 school buses announced by the EPA in January to the 50 school buses in the order is because Monongalia County School District is required to pay an additional $550,000 from its own school bus replenishment funds since the county is defined as non-priority by EPA.

“This electrification project is the type of activity Congress envisioned when it created the Clean School Bus Program in the Bipartisan Infrastructure Law,” Riley continued. “It is a collaborative effort between seven West Virginia school districts, GreenPower, GreenPower’s statewide school bus dealer and an infrastructure provider to replace outdated, dirty diesel buses with a safe, sustainable and sensible clean alternative to get kids to and from school and extracurricular activities in a healthier environment.”

Development of the grant funded by EPA was a multi-step process designed to ensure the effective use of federal funds in deploying the most zero-emission school buses possible while creating a charging corridor throughout the state which allows for the all-electric school buses to operate both on local routes and longer distances.

“As the statewide dealer, we partnered with GreenPower as the OEM to first meet individually with each school district to gauge their interest in participating in the grant process. Each of the schools had participated in the #YesWV All-Electric School Bus Pilot Project, so they were familiar with GreenPower’s school buses and knew they were well suited to meet the transportation needs of their students,” said Steve Ellis, Vice President of Sales for GreenPower’s dealer. “The schools then all came together as a group and jointly decided how to proceed with the application process.”

GreenPower collaborated with its Dealer and Highland Electric Fleet and they, collectively, made depot visits to each school district to establish their needs. They then provided guidance on the charging infrastructure, drafted the application, met with the school districts’ Boards of Education for approval, and submitted the grant application to the EPA.

The 50 GreenPower buses will be distributed as follows:
Cabell County School District – 6 BEASTs
Calhoun County School District – 3 BEASTs and 1 Nano BEAST
Clay County School District – 3 BEASTs
Grant County School District – 3 BEASTs and 2 Nano BEASTs
Kanawha County School District – 21 BEASTs
Lewis County School District – 6 BEASTs
Monongalia County School District – 1 Mega BEAST and 4 Nano BEASTs

“GreenPower’s all-electric school buses are eligible for rebate funding under the current round of the federal Clean School Bus Program and for the California Zero-Emission School Bus and Infrastructure (ZESBI) program,” said Paul Start, GreenPower’s Vice President of Sales – School Bus Group. “Applications for the $965 million in Clean School Bus Program funding are due by January 9, 2025 and for the $500 million ZESBI funding by November 22, 2024.” For assistance with grant applications, school districts should contact Start at paul.s@greenpowermotor.com.

GreenPower’s BEAST is a purpose-built 40-foot Type D all-electric, zero-emission school bus with seating for up to 90 students. Designed from the ground up, it is a unified structure that features a seamlessly integrated aluminum body made from extruded aluminum manufactured by Constellium on a high strength steel Truss (bus) chassis. The complete flat floor design allows for tracking with no obstacles, and the high floors keep students out of the crash zone. Dual port charging is standard with Level 2 rates up to 19.2 kW and DC Fast Charging rates up to 85 kW.

The Mega BEAST has a class-leading range of up to 300 miles on a single charge via a 387 kWh battery pack. It provides for the longest range, has the biggest battery pack in the school bus market, provides for more uphill climbing power and has the most desirable V2G capability for a more stable electric grid and community sustainability in areas where it is deployed.

The School Transportation News award-winning Nano BEAST has a standard 118 kWh battery pack and a range of up to 140 miles. Configured for up to 24 passengers, it features a seamlessly integrated aluminum body made from extruded aluminum manufactured by Constellium. The dual port charging is standard, with Level 2 rates up to 19.2 kW and DC Fast Charging rates up to 60 kW. The Nano BEAST Access has seating for up to 18 ambulatory passengers and up to 3+ Q’STRAINT wheelchair securements, complemented with a BraunAbility rear curbside lift.

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 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 exchange since November 2015, GreenPower completed its U.S. IPO and NASDAQ listing in August 2020. For further information go to www.greenpowermotor.com.

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SOUTH CHARLESTON, W.Va.- GreenPower Motor Company Inc. (NASDAQ: GP) (TSXV: GPV) (“GreenPower”), a leading manufacturer and distributor of purpose-built, all-electric, zero-emission medium and heavy-duty vehicles serving the cargo and delivery market, shuttle and transit space and school bus sector, today reported that it has delivered four all-electric, purpose-built, zero-emission school buses in Arizona, California and West Virginia in the first half of the month and announced plans to deliver 6 more Type D BEAST school buses in California and West Virginia in the near term.

In West Virginia, GreenPower delivered the first of the 37 BEAST school buses ordered by the state to the Wyoming County School District through GreenPower’s dealer. “We have been operating a GreenPower Type A Nano BEAST Access in our school district and the experience has been incredible. It has been really nice for our students who need to be transported with wheelchairs,” said Wyoming County School District Superintendent John Henry. “We are excited to now have a Type D BEAST in our fleet and expect the kids are going to embrace this new clean ride as well.”

Three additional BEAST all-electric school buses manufactured at the company’s South Charleston plant are planned to be delivered in West Virginia within the next month. Monongalia County School District, who currently operates one Nano BEAST, one Nano BEAST Access and one BEAST, will receive these as part of the order from the state of West Virginia.

In the West, one Type A all-electric, purpose-built, zero-emission Nano BEAST was delivered by GreenPower’s Dealer the RWC Group to the Joseph City School District in Arizona and two BEAST school buses were delivered through GreenPower’s Dealer Model 1 to Garden Grove Unified School District in California. Garden Grove has already deployed four BEAST school buses on their routes and plan to receive two more by the end of October. One additional BEAST is expected to be delivered to the Brawley Elementary School District this month.

“These deliveries along with our current order book show the continued growth in demand for GreenPower’s school bus products,” said Paul Start, GreenPower’s Vice President of Sales – School Bus Group, noting that the company currently has 126 live orders of school buses representing more than $45 million in business. “We have seen a significant uptick with our sales pipeline as we’ve also quoted new orders for more than 180 school buses.”

GreenPower’s BEAST is a purpose-built 40-foot Type D all-electric, zero-emission school bus with seating for up to 90 students. Designed from the ground up, it is a unified structure that features a seamlessly integrated aluminum body made from extruded aluminum manufactured by Constellium on a high strength steel Truss (bus) chassis. The complete flat floor design allows for tracking with no obstacles, and the high floors keep students out of the crash zone. Dual port charging is standard with Level 2 rates up to 19.2 kW and DC Fast Charging rates up to 85 kW.

The School Transportation News award-winning Nano BEAST has a standard 118 kWh battery pack and a range of up to 140 miles. Configured for up to 24 passengers, it features a seamlessly integrated aluminum body made from extruded aluminum manufactured by Constellium. The dual port charging is standard, with Level 2 rates up to 19.2 kW and DC Fast Charging rates up to 60 kW.

The Type D BEAST and Type A Nano BEAST are both eligible for California HVIP vouchers and qualify for grants under the California Zero-Emission School Bus and Infrastructure (ZESBI) program. ZESBI grants pair zero-emission (ZE) school bus vehicle funding offered by the California Air Resources Board (CARB), with charging infrastructure funding offered by the California Energy Commission (CEC). A total of $500 million is appropriated by Senate Bill (SB) 114 for ZESBI for Fiscal Year 2023-24. Of that amount, $375 million is allocated to support the replacement of old school buses with ZE school buses and $125 million is allocated to support complementary infrastructure and associated costs. ZESBI utilizes a joint application for vehicles and infrastructure. The application process is open until November 22, 2024.

GreenPower all-electric school buses are also eligible for federal Clean School Bus Program funds administered by the EPA. Applications for the current rebate program round, funded at $965 million, are being accepted through January 9, 2025.

For the recent quarter ended September 30, 2024 GreenPower delivered 11 BEAST school buses in California and Oregon and delivered 11 EV Star Cargo Plus, EV Star Rear ADA and EV Stars.

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 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 exchange since November 2015, GreenPower completed its U.S. IPO and NASDAQ listing in August 2020. For further information go to www.greenpowermotor.com.

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LOS ANGELES, Calif.- GreenPower Motor Company Inc. (NASDAQ: GP) (TSXV: GPV) (“GreenPower”), a leading manufacturer and distributor of purpose-built, all-electric, zero-emission medium and heavy-duty vehicles serving the cargo and delivery market, shuttle and transit space and school bus sector, today announced it will deliver five Type D BEAST all-electric, purpose-built, zero-emission school buses to two school districts in California this week.

“Delivery of our all-electric Type D BEAST school buses in California this week shows the continued preference for GreenPower’s purpose-built product in the marketplace,” said Paul Start, GreenPower Vice President of Sales – School Bus Group. “GreenPower remains the only OEM to manufacture both a Class 4 purpose-built Type A all-electric school bus in its Nano BEAST and a Type D all-electric, purpose-built school bus in its BEAST. This product combination allows school districts to meet its student transportation needs, all while taking full advantage of state incentives and programs.”

Of the five BEASTs to be delivered this week, four will go to the Cutler-Orosi Joint Unified School District and the fifth to the Terra Bella Union Elementary School District. “We are pleased that these school districts see the great health and safety benefits provided by GreenPower’s all-electric, purpose-built, zero-emission school buses in meeting the transportation needs of their students,” Start continued. “As with other school districts in California and across the nation, these schools have a mission of providing safe and efficient transportation to their students. GreenPower’s all-electric school buses provide that safe, sustainable and sensible transportation option that gets kids to and from school in a healthy environment prepared to learn.”

In addition to this week’s deliveries, in the next few weeks GreenPower plans to deliver up to four more Type D BEAST all-electric, purpose-built, zero-emission school buses to California schools, and two BEASTs to schools in Oregon, with up to an additional 20 school buses expected to be delivered in California over the next 90 to 120 days.

GreenPower’s BEAST is a purpose-built 40-foot Type D all-electric, zero-emission school bus with seating for up to 90 students. Designed from the ground up, it is a unified structure that features a seamlessly integrated aluminum body made from extruded aluminum manufactured by Constellium on a high strength steel Truss (bus) chassis. The complete flat floor design allows for tracking with no obstacles, and the high floors keep students out of the crash zone. Dual port charging is standard with Level 2 rates up to 19.2 kW and DC Fast Charging rates up to 85 kW. Wireless charging is also available as an option.

The Type D BEAST and Type A Nano BEAST are both eligible for California HVIP vouchers and qualify for grants under the California Zero-Emission School Bus and Infrastructure (ZESBI) program. ZESBI grants pair zero-emission (ZE) school bus vehicle funding offered by the California Air Resources Board (CARB), with charging infrastructure funding offered by the California Energy Commission (CEC). A total of $500 million is appropriated by Senate Bill (SB) 114 for ZESBI for Fiscal Year 2023-24. Of that amount, $375 million is allocated to support the replacement of old school buses with ZE school buses and $125 million is allocated to support complementary infrastructure and associated costs. ZESBI utilizes a joint application for vehicles and infrastructure. The joint application will close on Monday, September 30, 2024 at 5:00 pm Pacific Time.

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 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 exchange since November 2015, GreenPower completed its U.S. IPO and NASDAQ listing in August 2020. For further information go to www.greenpowermotor.com.

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VANCOUVER, Canada, – GreenPower Motor Company Inc. (Nasdaq: GP) (TSXV: GPV) (“GreenPower” and the “Company”), a leading manufacturer and distributor of purpose-built, all-electric, zero-emission medium and heavy-duty vehicles serving the cargo and delivery market, shuttle and transit space and school bus sector, today reported its first quarter fiscal year 2025 results and provided an update on its sales pipeline.

“We have seen a significant uptick this summer in our sales pipeline for GreenPower’s all-electric commercial vehicles, including 28 specialty vehicles for deployment in Canada which would utilize our current inventory of EV Star Cab & Chassis. We’ve also received orders for EV Star Passenger Vans in a variety of seating configurations and EV Star Cargo Plus for more than 20 vehicles,” said Fraser Atkinson, GreenPower Chairman and CEO. “We anticipate delivering most of these vehicles by the end of this calendar year.”

“The pipeline of GreenPower all-electric, purpose-built, zero-emission school bus orders has more than 30 vehicles slated for delivery in California and Oregon over the next 90 to 120 days,” added Brendan Riley, GreenPower President. “These orders complement the 88 school buses previously announced for the East Coast. This East-West strategy of manufacturing and delivering product nationwide is what the Company envisioned when the West Virginia plant was added to complement our California production capacity.”

“While uncertainty over state regulations and federal incentives combined with other global economic factors slowed some EV markets earlier this year, the increase in orders and quotes GreenPower is now experiencing shows that the demand for all-electric vehicles is still there and that the market is rebounding with significant growth potential as the industry addresses these hurdles and paves the way for a more electrified and sustainable future,” Atkinson continued. “Consequently, we see a step up in our revenue through the remaining quarters this fiscal year.”

First Quarter 2025 Highlights:

Generated revenues of $3.0 million for the three months ended June 30, 2024. Cost of sales of $2.8 million yielding a gross profit of more than $0.2 million.
Delivered three BEAST Type D all-electric school buses, four EV Star Cargo and EV Star Cargo Plus and five EV Star Passenger Vans.
Delivered the first Type D BEAST all-electric, purpose-built, zero-emission school bus manufactured in South Charleston, West Virginia and continued ground-up production of additional BEAST Type D school buses for the fulfillment of the 37 ordered by the state.
Introduced the EV Star REEFERX. Built on GreenPower’s EV Star Cab & Chassis platform, the EV Star REEFERX is purpose-built and fully customizable with a lighter body to allow for increased payload. Designed to serve mid to last-mile refrigerated delivery and catering applications, the EV Star REEFERX moves goods that need to be temperature controlled, such as fresh and frozen foods, flowers and pharmaceuticals, among other applications. The vehicle body features a one interior wall structure to allow for seamless sanitation, consistent insulation throughout and a longer life.
At the end of the quarter had working capital of $13.9 million and inventory of $33.7 million, including $13.4 million of finished goods.
During the quarter, the Company raised gross proceeds of $2.3 million (before deducting underwriting discounts and offering expenses) with an underwritten Unit offering comprised of 1,500,000 common shares and warrants to purchase 1,575,000 common shares.

For additional information on the results of operations for the three months ended June 30, 2024 review the interim financial statements and related reports posted on GreenPower’s website as well as on www.sedar.com or filed on EDGAR.

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 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 exchange since November 2015, GreenPower completed its U.S. IPO and NASDAQ listing in August 2020. For further information go to www.greenpowermotor.com

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