Recent Updates — GP

GreenPower Motor Company Inc. converted the principal of convertible debentures totaling $1,999,750 owed to certain creditors into 2,105 Series B Convertible Preferred Shares with a stated value of USD $1,000 per share. The preferred shares carry a 9% annual dividend rate and are convertible into common stock at US$1.975 per share. Additionally, the company issued 219,932 common shares for accrued interest on debentures and 140,640 common shares for accrued dividends on the preferred shares to investors including Fraser Atkinson and G. David Richardson. The transaction is intended to improve shareholders' equity and align with Nasdaq's minimum requirements. GreenPower designs, builds and distributes all-electric medium and heavy-duty vehicles.

GreenPower received a notice from Nasdaq on October 15, 2026, stating that its common shares have closed below the $1.00 minimum bid price requirement for 30 consecutive business days. The company has 180 calendar days to regain compliance by maintaining a closing price above $1.00 for at least 10 consecutive business days. Failure to do so may result in delisting, though an additional 180-day cure period might be available if initial listing standards are otherwise met. GreenPower designs, builds and distributes all-electric medium and heavy-duty vehicles.

The Nasdaq Stock Exchange has approved GreenPower Motor Company Inc.'s request to consolidate its issued and outstanding common shares on a one-for-five basis. The consolidation becomes effective at the opening of market on October 19, 2026. Consequently, the total number of outstanding shares will decrease from approximately 10.5 million to roughly 2.1 million, with fractional shares rounded up to the nearest whole share without cash payment. Outstanding options, warrants, and convertible debentures will be proportionally adjusted. GreenPower designs, builds, and distributes all-electric medium and heavy-duty vehicles.

GreenPower Motor Company has entered into a non-binding Letter of Intent (LOI) with Invisible Urban Charging, Inc. to jointly develop integrated electric-fleet solutions. The partnership aims to combine GreenPower's zero-emission vehicle platforms, including the EV Star Cab & Chassis and electric buses, with IUC's charging infrastructure, software, and capital-solutions capabilities. IUC has secured over US$2.5 billion for its electric mobility program. The parties will conduct a staged review process involving technical diligence, assessment of local body builders, and development of service plans, subject to definitive agreements. GreenPower operates in the manufacturing and distribution of all-electric medium and heavy-duty vehicles.

GreenPower Motor Company Inc. announced a proposed one-for-five reverse stock split of its common shares to reduce the outstanding share count from approximately 10.5 million to roughly 2.1 million. The move aims to restore compliance with Nasdaq's $1.00 minimum bid price requirement. The transaction requires approval from the Nasdaq Stock Exchange, and an effective date will be announced separately. GreenPower designs, builds, and distributes all-electric medium and heavy-duty vehicles.