California ISEF Incentive Program Reopens on October 21st GreenPower's EV Stars are Eligible for up to $130,000 of Incentives

Executive Summary

• GreenPower’s EV Star Class 4 electric vehicles are eligible for up to $130,000 in Small Business Vouchers under the California ISEF program when it reopens on October 21, 2025.
• The ISEF Set‑Aside contains $30.5 million in incentives; vouchers cover up to 90% of vehicle costs for qualifying small fleets (≤20 vehicles, ≤US $15 M annual revenue).
• For the quarter ended September 30, 2025, GreenPower sold 77,202 common shares through its at‑the‑market (ATM) program at an average price of US $4.63, generating gross proceeds of US $357,132 (net US $346,418 after a US $10,714 commission).

Key Details

• ISEF Incentive Eligibility
• Small Business Vouchers of up to US $130,000 per qualifying fleet.
• Covers up to 90% of the purchase price (excluding taxes) for up to five new Class 4 EV Star vehicles.
• First‑come, first‑served basis; funding expected to be exhausted quickly after reopening on Oct 21, 2025.
• EV Star Product Line Highlighted
• EV Star Passenger Van, Mobility Plus, ReeferX, Cab & Chassis, Stakebed Truck, Utility Truck.
• Configurable for passenger, cargo, refrigerated, utility, and stake‑bed applications; immediate delivery available.
• Quarterly ATM Equity Offering Update (Q3 2025)
• Shares issued: 77,202 common shares via Nasdaq.
• Average price per share: US $4.63 (post‑10‑for‑1 consolidation effective Sep 8, 2025).
• Gross proceeds: US $357,132; net proceeds after commission: US $346,418.
• Commission paid to Roth Capital Partners, LLC: US $10,714.
• Contact Information
• Nahui Olin – VP Business Development & Commercial Operations ([email protected])
• Brendan Riley – President (510‑910‑3377)
• Fraser Atkinson – CEO (604‑220‑8048)

Notable Quotes

“GreenPower has a full lineup of commercial all‑electric, purpose‑built, zero‑emission vehicles to meet the customers’ needs… GreenPower is happy to work with customers and their upfitters to create a vehicle to meet their needs.” – Nahui Olin, Vice President of Business Development & Commercial Operations

“Contact me right away to get the Small Fleet Required Information checklist and start preparing so your voucher requests may be submitted as soon as funding is added. Don’t wait—these funds won’t last.” – Nahui Olin