GreenPower Motor : Investor Presentation (January 2021)

January 2021

DISCLAIMER & FORWARD LOOKING STATEMENTS

Forward-looking statements included in this presentation include, but are not limited to, statements with respect to: GreenPower is a leading designer, manufacturer and distributor of battery -electriczero-emission vehicles; that Greenpower is currently leveraging strong demand for its EV Star platform; that GreenPower's vehicles can be charged almost anywhere using standard charging equipment; that GreenPower's purpose-builtall-electric vehicles offer superior performance, reliability and durability compared to a retro-fitall-electric bus; that GreenPower's customers will increase their order size after units perform in real-world duty cycles; that the range of the B.E.A.S.T. electric school bus is up to 150 miles on a single charge; that the B.E.A.S.T. offers more seating capacity, standard features, is safer than the competition; having a diverse group of certified contract manufacturing partners hedges against exposure to potential supply chain disruptions; the belief that flexible factory infrastructure allows for shifting final assembly to Buy America complete assembly or a blend of both simultaneously; that regional pop-up assembly plants throughout the USA will enhance margins through lower shipping costs; the new market opportunity with Micro Transit will enable GreenPower to sell substantial volumes of EV Stars; the belief that Altoona Certification and Buy America compliance create a major competitive advantage for Green Power; the belief that money and mandates are driving EV adoption; the belief that demand for electric vehicles will continue to grow rapidly; the belief that the industry is rapidly approaching the crossover to self-sustainability; the belief that public transport will become more nimble and lower their carbon footprint by transitioning to smaller electric vehicles all while driving down their operational costs; the general business strategy and milestones of the Com- pany; availability of additional funds to execute the business plan; and other factors. Some of the risks and other factors which could cause results to differ materially from those expressed in the forward-looking statements contained in the presentation include, but are not limited to: general economic conditions in Canada, the United States, China and globally; transåthe quarterly cash expenses of the company, changes in gross profit margin or sales of the company's electric vehicles; potential for changes in government laws, tariffs or policies; availability of sufficient financial resources to pay for the production, development and other costs of the Company's products and services; ability to locate satisfactory industry partners; the continued funding and availability of grants, subsidies, and vouchers for electric vehicles and electric vehicle infrastructure in Green Power's target markets; the ability of the GreenPower to meet its production volume goals within the expected timeframe and expected costs as a result of the Covid-19 global pandemic; continued demand for GreenPower's products within its target markets due to impacts from the Covid-19 global pandemic; competition for, among other things, capital and skilled personnel; changes in economic and market conditions that could lead to reduced spending on green energy initiatives; competition in our target markets; potential capital needs; management of future growth and expansion; the development, implementation, and execution of the Company's strategic vision; risk of third-party claims of infringement; legal and/or regulatory risks relating to the Company's business and strategic acquisitions; protection of proprietary infor- mation; the success of the Company's brand development efforts; risks associated with strategic alliances; reliance on distribution channels; product concentration; our ability to hire and retain qualified employees and key management personnel, and other factors.

2

KEY HIGHLIGHTS

• Broad-basedline of purpose-built electric vehicles with a track record of deliveries on a consistent basis.
• According to Bloomberg NEF 1,600 Battery Electric medium and heavy duty commercial vehicles are expected to be sold in the United States in 2020 growing to over 50,000 in 2025, 227,000 in 2030 and 912,000 in 2040. For Battery Electric buses they see this growing from 2,037 in 2020 to over 25,000 in 2030 and 76,000 in 2040
• Rapid revenue progression and significant pipeline growth with existing production capacity to satisfy

near term demand

• Diversified early customer adoption with over 140 deliveries and 200 orders including Universities, Airports, transit authorities, van pooling, that have purchased multiple units
• Management team with prior experience at BYD, Thor Trucks, CCW and others with proven track record

to successfully develop and commercially deploy new lines of EV's

• Flagship product EV Star is the first in its class to be Altoona tested and certified and Buy America Act Compliant - which provides access to highly lucrative federal incentives

NASDAQ: GP // TSXV: GPV

4

COMPETITIVE

ADVANTAGE

GreenPower Motor Company is a U.S. electric medium and heavy duty vehicle manufacturer that has a full line of purpose- built, zero emissions vehicles for its respective markets

Purpose-built means our vehicles were designed, engineered, and manufactured from the ground-up as battery-electric vehicle and not a converted vehicle

GreenPower's EV Star is Altoona tested and Buy America compliant

GreenPower vehicles can be charged almost anywhere using standard charging equipment

NASDAQ: GP // TSXV: GPV

GREENPOWER

PRODUCTION &

CAPACITY

• Buy America Compliant domestic production capability of up to 30 EV Stars per month
• Contract manufacturing partners capable of producing up to 100 cab and chassis units per month
• Diverse group of certified Contract Manufacturing partners hedges against exposure to potential supply chain disruptions
• Flexible factory infrastructure allows for shifting final assembly to Buy America complete assembly or a blend of both simultaneously
• Ability to pop up assembly plants regionally throughout USA enhances margins via lower shipping costs

Total Issued	20,614,304
Shares
	Incentive Stock	1,361,536
	Options 1
Warrants 2	2,059,804
Fully Diluted	24,035,644
Shares
Notes: As of December 31, 2020
1.	Exercisable from $2.45 - US $20.00 per share.
2.	Exercisable from $3.50 - $5.25 per share.
	1,824,643 warrants are held by insiders.

3. All per share amounts in Canadian dollars unless otherwise noted.

• The Company commenced trading on Nasdaq on August 28, 2020 and completed a financing for gross proceeds of over $37 million.
• Green Power has available but unused operating demand loan for
  US $8 million with BMO Bank of Montreal.
• Insider purchases of more than 300,000 shares in the past year.

NASDAQ: GP // TSXV: GPV

15

• The State of California was one of the first government bodies to require transit properties and airports to move to zero-emission buses. More recently global technology and logistics companies have announced strategies to electrify their fleets.
• GreenPower's vehicles are listed as eligible vehicles under the California HVIP programs.
  Presently GreenPower has 19 approved vouchers for approximately $1.9 million.
• Federal Transit Incentives - As the only Class 4 EV that has passed Altoona Testing and can be built with Buy America Compliance, GreenPower's EV Star is eligible for incentives equaling 80% of the purchase price for transit buyers.
• GreenPower has received orders for its school buses that are being funded by the Air Quality Management Districts with funding from the VW Settlement funds.
• Other incentive programs include:

• New York State voucher program	• NYTVIP
•	B.C. Specialty Use Vehicle Program	•	NY Clean Trucks
• VW Mitigation Trust Fund	• BAAQMD Carl Moyer
•	CARES Act federal funding	•	CA VW Mitigation Trust

Source: https://www.californiahvip.org