Q4 2025 GreenPower Motor Co Inc Earnings Call & Business Update

August 4, 2025

Today's event with Green power Motor company, which trades on the NASDAQ under the ticker G. P. <unk> with US today, we have freezer Atkinson, Chief Executive Officer, and Chairman of Green power Motor and Brendan Riley President and director, we will begin with a brief presentation in a moment and then we will answer your questions users may submit a question.

<unk> at any time click the Q&A button at the bottom of the zoom window before we begin please allow me to read the Safe Harbor statement. This call may contain forward looking statements within the meaning of the private Securities Litigation Reform Act of 1095, all statements pertaining to future financial and operating results along with other statements about future expectations beliefs.

<unk> plans or prospects expressed by management constitute forward looking statements any statements that are not historical fact should also be considered forward looking statements of course forward looking statements involve risks and uncertainties I now turn the webinar over to the Green power team gentlemen, Please go ahead.

My name is Fraser Atkinson, our CEO of Green power and I'm joined today with Brendan Riley President of Green power.

Hello, everyone.

And I will.

The plan is to go through a presentation and then take our questions and answers, which Brendan and I are looking forward to.

Engaging with stakeholders and others that have an interest in green power.

Craig noted, we seek safe harbor, so I won't reread, what he has already covered.

And.

For those that are new to the Green power story we.

Design manufacture and distribute a suite of purpose built all electric zero emission medium and heavy duty vehicles.

We're focused on.

Both the commercial vehicle market as well as the school bus sector, and we will speak about both of those as we progress through the presentation.

The highlights for the company, we've delivered more than 700 of our class four <unk> star models, which cover everything from passenger.

<unk>.

To the trucking side as well as our own cabin chassis, which other evs are purchased and used for for their particular product or product sets.

And we also have a strong growing order book for Green Power School buses of note is that we are and we'll probably mentioned this a couple of times today, we are the only OEM with both the smaller class for type a school bus, which you can see in the top left picture there and the class a type D.

All electric school bus.

And the top when we.

<unk> named the nano Beast in the bottom line as the Beast, which is battery electric automated school transportation.

Over the past year theres been a significant slowdown, but the adoption of electric medium and heavy duty commercial vehicles.

Number one regulations have been rescinded or postponed secondly mandates have been relaxed or in some cases just outright canceled.

And thirdly, there is there isn't the same impetus or pressure to adopt electric vehicles, and whether thats by corporate resolution stakeholder mandates or.

Our government mandates we've seen the pressure to adopt has really waned over the last year or so.

At the end of 'twenty 'twenty, four green power commenced to rebuild <unk>.

And the company has consolidated its California operations into one location.

The commercial vehicle group with a focus on business development and reduce costs.

As we were going through this.

The tariffs.

Terrorists arrived and when I say arrived there they arrived with.

Yes.

To a large degree with.

A lot of uncertainty.

And the inability to to make a quick determination as to how one should recast your business and so during this rebuild.

With the current administration, when they announced the terrorists.

<unk> and delays in the receipt of shipments that we had.

And as you.

As well as increased cost of building, our all electric vehicles and by July most of these issues have been sorted out, allowing green power to recommence production of our all electric purpose built school buses.

So where we see the strongest demand in the EV space for the products that we brought to market is in the school bus space. So unlike the commercial vehicles that I alluded to on the previous slide the school bus sector, just seems to be getting stronger and stronger.

And Brendan and I will go through a number of the DIFM.

Different aspects that really are not just driving that demand, but will maintain the strong demand over the next five to 10 years.

The graph on the left gives you an idea of the order books in terms of the vehicles that have been ordered or have been actually deployed and are operating.

And as you can see by October 2024.

Some of those two categories. So it's just over 12000 school buses.

That's a drop in the bucket compared to the total school buses that are in operation in the nation, which amounts to 490000 school buses. So theres a long long way to go to electrify The school bus fleet in the nation.

Electric school buses are a great fit because they have a very predictable route.

It's generally at a much on average a lower speed than 10 assay a.

Marshall vehicle and there's a host of other.

Aspects of that.

Really provide for a great fit.

There is the state mandates accelerating adoption, which we'll get into in terms of the details of those mandates, but at a high level. We're talking about some of the key markets such as New York, which has 50000 school buses in California with 30000 school buses.

Just those two states alone account.

Account for.

Almost 20% of the marketplace.

Even capturing just 1% of diesel bus replacements equates to a $1 3 billion dollar revenue opportunity per year.

And as noted at the outset on on this slide the demand for electric school buses is expected to exceed in industry production capability for years to come.

There's a little graphic that to an organization healthy environments for kids, it's a Canadian organization.

Which gives you some sense that a whether you're in the U S or in Canada.

We're dealing with the same issue.

And that's.

As noted by the headline or the.

The slide at the top of the slide here is that the children's health is really one of the primary.

Drivers of demand in this sector on the left of this slide or all the different issues and reasons that the existing school buses that are in place are impacting <unk> and <unk>.

In many cases, a very negative way with the transportation of kids to their respective schools and on the right.

A number of the benefits of flow from Electrifying School bus fleets.

So zero emission school buses are the solution for the.

The problems that I've just outlined.

And it's worth noting.

Fraser Atkinson: Zero-emission school buses are the solution for the problems that I have just outlined. It is worth noting at a high level some of these, and that the diesel exhaust, which contains harmful pollutants or specifically NOx emissions, these in particular affect younger kids where their lungs are still developing. The research shows that they have a much higher incidence of respiratory illnesses or even cancerous diseases. Secondly, the PM 2.5 or particulate matter gets into the bloodstream. So you have a different set of health issues related to another emission from the diesel emitting school buses. Lastly, the actual transportation, the time spent in these older, diesel emission or ICE school buses is that any prolonged transportation time when the kids get to school, they are tired. They literally can be worn out from sitting in an environment that is not beneficial to their health.

So a zero emission school buses are the solution for the.

He had a high level some of these and that the diesel exhaust which contain harmful pollutants.

The problems that I've just outlined.

And it's worth noting.

Specifically Nox emissions.

<unk> had a high level some of these and that the diesel exhaust which contain harmful pollutants.

These in particular affect younger kids, where their lungs are still developing and the research shows that they have a much higher incidence of respiratory illnesses or even cancerous diseases.

Specifically Nox emissions.

These in particular affect younger kids, where their lungs are still developing and the research shows that they have a much higher incidence of respiratory illnesses or even cancerous diseases.

Secondly is that the P M to five or particulate matter gets into the bloodstream and so you'll have a different set of health issues related to another emission from the.

Secondly is that the PM two five of particulate matter gets into the bloodstream and so you'll have a different set of health issues related to another emission from the.

The diesel meeting school buses.

And lastly, the track the actual transportation of the time spent in these older.

The diesel admitting school buses.

Diesel emission or ice school buses is that any prolonged transportation time, when the kids get to school their tire they're just literally are can be.

And lastly, the track the actual transportation of the time spent in these older.

Diesel emission or ice school buses is that any prolonged transportation time, when the kids get to school their tire. They're just literally are can be worn.

<unk> from sitting in an environment that is.

There's not.

Not beneficial to their health. So the solution that is noted on the right hand side of this slide is zero emission school buses.

Worn out from sitting in an environment that.

As.

And right now there.

Not beneficial to their health. So the solution. That's noted on the right hand side of this slide is zero emission school buses and right now there are no other school busses available other than battery electric that would be a zero emission school bus.

There are no other school busses available other than battery electric.

Fraser Atkinson: So the solution, as noted on the right-hand side of this slide, is zero-emission school buses. Right now, there are no other school buses available other than battery electric that would be a zero-emission school bus. Of note is that the research in this area also shows that pre-1990 buses compared to electric buses saw a significant gain in test scores and attendance just simply by changing the mode of transportation to one that is more beneficial to their health and welfare. This is also an investment opportunity in that healthier students means an improved learning environment and reduced absenteeism, in addition to the actual cost structure or total cost of ownership of a school bus that is electric versus the traditional diesel. On that, I will turn it over to Brendan.

B a zero emission school bus.

So and and of note is that the research in this area also shows that <unk> 1990 buses compared to electric buses saw a significant gain in test scores in attendance just simply by changing the motive transportation to one that is.

So and and of note is that the research in this area also shows that pre 1990 buses compared to electric buses saw a significant gain in test scores in attendance just simply by changing the motive transportation to one that is.

More beneficial to their health and welfare.

And this is also an investment opportunity in that it's healthier students means an improved learning and <unk>.

More beneficial to their health and welfare.

<unk> and reduced absenteeism.

And this is also an investment opportunity in that it's healthier students means an improved learning environment and reduced absenteeism.

In addition to the actual.

Your cost structure at a total cost of ownership of a school bus that's electric versus the traditional diesel.

In addition to the actual.

Our cost structure total cost of ownership of a school bus that's electric versus the traditional diesel.

And on that I'll turn it over to Brendan.

Thank you Fraser.

When I first entered the commercial EV space back in 2011.

And on that I'll turn it over to Brendan.

Brendan Riley: Thank you, Fraser. When I first entered the commercial EV space back in 2011, the middle of 2011, the real issue with commercial EVs was that the grid did not have enough power for commercial EVs. That really hasn't changed. The grid, actually, if it's changed, it's changed for the worse. The grid has a huge issue. Fraser, if we could go back one slide. The grid has a huge issue where it does not have enough power right now, enough electrons on the grid, either generated nor transmitted for all of the data centers we're building, let alone for school buses. We were thinking, okay, school buses were part of the problem. Along comes vehicle-to-grid technology, and that's technology where, sorry, we lost the screen.

Thank you Fraser.

Middle of 2011.

When I first entered the commercial EV space back in 2011.

The real issue with commercial Evs.

Was that the grid did not have enough power.

<unk>.

Minimal in 2011.

The real issue with commercial.

For commercial Evs and that really hasnt changed the grid actually [laughter]. If it changed has it changed for the worse so the grid.

<unk>.

Was that the grid did not have enough power.

For commercial Evs and that really hasnt changed the grid actually [laughter]. If it changed has it changed for the worse so the grid.

It has a huge issue and frankly, if we go back one slide.

So the grid has has a huge issuer does not have enough power right now.

Has a huge issue and frankly, if we go back one slide so the grid has has a huge issuer does not have enough power right now and if electrons on the grid in either generated nor transmitted.

On the grid in either generated nor transmitted.

For all of the data centers or building, let alone for school buses and we were thinking Okay. Well school buses were part of the problem along comes vehicle to grid technology and that technology.

For all of the data centers or building, let alone for school buses.

And we were thinking Okay, well school buses were part of the problem along comes vehicle to grid technology and that's technology.

We're sorry, we lost the the.

The screen.

We're sorry, we lost the.

You see it online Craig.

The screen.

And you guys see me yeah.

Yes, Oh I can see fraser's.

Fraser Atkinson: He is on mine, Craig.

So you don't mind Craig.

Brendan Riley: Can you guys see me?

Okay.

And you guys see me.

Nonetheless, what.

Craig Irwin: Yes, I can see Fraser's.

Yes, Oh I can see fraser's.

What's going on is that the grid has an absence.

Brendan Riley: Okay. I lost. Nonetheless, what is going on is that the grid has an absence of, we have had all kinds of electric generation shut down with conventional coal and gas power plants and even some nuclear power plants. With the advent of the data centers, the big issue is how do we make the grid resilient enough to really deal with the new demands on the grid? School buses really provide an amazing solution for this. They are actually plugged into the chargers most of the time. So 90% of the time, they are actually plugged in. You need the school bus plugged into a charger to actually be able to export power. The school buses are operating, let us say, for on average, two hours a day, an hour in the morning, an hour in the evening.

Okay.

We've had.

Nonetheless.

All kinds of electric generation shut down with conventional coal and gas power plants, and even some nuclear power plants and with the advent of the data centers. The big issue is how.

What what's going on is that the grid has an absence of we've had.

All kinds of electric generation shut down with conventional coal and gas power plants, and even some nuclear power plants.

How do we make.

The grid resilient enough to really deal with the new demand on the grid.

And with the advent of the data centers. The big issue is how do we make.

And.

School buses really provide an amazing solution for this theyre actually plugged in to.

The grid resilient enough to really deal with the new demands on the grid.

And.

They're plugged into the.

School bus is really provide an amazing solution for this theyre actually plugged in to.

Theyre Chargers most of the time, so 90% of the time they are actually plugged in and you need the school bus plugged into a charger to actually be able to export power and the school buses are operating let's say for an average two hours a day and hour in the morning, an hour in the evening.

Sure.

They're plugged into the.

Theyre Chargers <unk>.

Most of the time, so 90% of the time, they're actually plugged in you need the school bus plugged into a charger to actually be able to export power and the school buses are operating let's say for an average two hours a day and hour in the morning, an hour in the evening.

And the rest of the time, they're available to either give power to or take power power from the utility.

Brendan Riley: The rest of the time, they are available to either give power to or take power from as the utility demands. We really see an opportunity where we are deploying these school buses, where the school buses are not really part of the problem. They are actually part of the solution and provide this fungible resource, this battery bank of electrons that the utilities can take or give, depending on what they want to do. Sorry, I am going to rejoin here and see if I can get back in. In the event, I am just going to keep on with my side, folks. Apologize for this. The solution is this clean technology provides a fungible resource of power. It can provide grid stabilization. It can provide peak demand offset. It also provides the opportunity for the school districts to do arbitrage where they buy energy when it is cheap.

And the rest of the time, they're available to either give power to or take power power from the utility.

Demands, so we really see an opportunity.

Where we're deploying the school buses, where the school buses aren't really part of the problem, they're actually part of the solution and provide this fungible resource this battery bank of <unk>.

Demands, so we really see an opportunity.

Where we're deploying the school buses, where the school buses aren't really part of the problem, they're actually part of the solution and provide this fungible resource This battery bank.

Electrons that utilities can can take or.

Or give depending on what they are what they want to do it so sorry, I'm gonna rejoined here and see if I can get back in.

<unk> of.

Of electrons.

At the utilities can can take or.

Yeah.

Or gift depending on what they are what they want to do it so sorry to rejoin here and see if I can get back in.

Okay.

Any event I'm, just going to keep on with.

With my side folks.

I apologize for this.

Any event I'm, just going to keep on with.

Yeah.

With my side folks.

So.

The solution is.

I apologize for this.

It was clean technology provides.

Okay.

So.

Provides a fungible resource power it can provide grid stabilization. It can provide peak demand offset and it also provides the opportunity for the school districts in new arbitrage, where they buy energy when it's cheap they sell it back to the grid when it's more valuable.

The solution is.

It's clean technology provides.

Provides a fungible resource of power it can provide grid stabilization. It can provide peak demand offset and it also provides the opportunity for the school districts in new arbitrage, where they buy energy when it's cheap they sell it back to the grid when it's more valuable.

Abel and.

And can make the money now that you do need some components on Harry you do need bidirectional charger than you need.

Brendan Riley: They sell it back to the grid when it is more valuable and can make the money. You do need some components on here. You do need bi-directional chargers, and you need vehicles that are enabled to do vehicle-to-grid, again, with smart grid integration. The opportunity here for the vehicle-to-grid and GREENPOWER specific opportunity here with this new BEAST product that we have, which is a school bus that has almost 400 kilowatt-hours of batteries on board. We really have a compelling product where we have enough fungible power on board that even though an interconnect and the hardware can cost, you know, upwards of $70,000, $80,000, $100,000 per connection, when you have got a big battery that you are leveraging like that, it is basically like having containerized battery storage. Next slide, please, Fraser.

<unk> and.

<unk>.

And can make the money now that you do need some components on Harry you do need bidirectional Chargers in need.

Vehicles that are enabled to do vehicle to grid again.

Again with smart grid integration.

So the the opportunity here for the vehicle to grid and Green power specific opportunity here with this new megabit product that we have which is a school bus. It has for almost 400 kilowatt hours of batteries on board, we really have a compelling product.

<unk>.

Vehicles that are enabled to do vehicle to grid again.

Again with smart grid integration.

There is where we have enough fungible power onboard that even though and interconnect and the hard work and cost upwards of.

70, 80 $800000 per connection.

You will power onboard that even though and interconnect and the hard work and cost upwards of <unk>.

When you've got a big battery that you're leveraging like that it's basically like having containerized battery storage next slide please.

70, 80 $800000 per connection.

When you've got a big battery that youre, leveraging like that it's basically like having containerized battery storage next slide please fresh.

We just opened this up.

Fraser Atkinson: Let me just open this up.

We just opened this up.

It's showing how wisely.

Yeah, I'm not online right now folks I'm just on the zoom call.

I don't have any screen here.

Brendan Riley: I am not online right now, folks. I am just on this Zoom call. I do not have any screen here.

The Apollo showing Hawaii.

Okay. So the state law.

Yeah, I'm not online right now folks I'm just zoom calls.

Brendan Brendan I hate to interrupt one solution could be for you to display the.

I don't have any screen here.

Craig Irwin: Okay.

Brendan Riley: So the state-led momentum driving like.

The deck on your screen and we currently are on page seven of the deck. So yeah, that's what I've done Oh, okay. Good.

Okay. So the state land will map the drive any Brendan Brennan I hate to interrupt one solution could be for you to display the.

Craig Irwin: Brendan, I hate to interrupt. One solution could be for you to display the deck on your screen. We currently are on page seven of the deck.

You're very much recommendation Graham sorry about this guys.

The deck on your screen and we currently are on page seven of the deck. So yeah, that's what I've done Oh, okay. Good. Thank you. Thank you very much your recommendation Craig I'm sorry about this guys.

Michael difficulties here so the state led.

Brendan Riley: Yeah, that's what I've done. I've done.

Craig Irwin: Okay, good.

Brendan Riley: Thank you for.

Driving electric school bus adoption.

Craig Irwin: Thank you very much.

Brendan Riley: I'm sorry about this, guys. I'm having technical difficulties here. The state-led momentum is driving electric school bus adoption. Previously, we had the EPA bill, which is really a nationwide program, maybe not set up in the most efficient manner. I know a lot of the school bus manufacturers haven't been very pleased with the way that program was not only set up and administered, but even deployed. We at GreenPower Motor Company are really looking at the two markets that are going to be driving electric school bus adoption here. One is New York, which has 100% zero-emission school buses. It is on their roadmap by 2035. It's about $15 billion of market opportunity. Currently, they've got NYSBIP vouchers. They've got a half a billion dollar bond act and $100 million in 2025 budget just for electric school buses alone.

Previously we had the EPA Bill, which is really a nationwide program, maybe not a set up the most in the most efficient manner and I know a lot of the school bus manufacturers Havent.

Michael difficulties here so the state led a.

11, driving electric school bus adoption.

Previously we had the EPA Bill, which is really a nationwide program maybe not.

I haven't been very pleased with the way that program was not only set up and administer but even deployed.

<unk> set up the most in the most efficient manner and I know a lot of the school bus manufacturers.

Green, we are green power really looking at the two markets that are going to be driving electric school bus adoption here one is new York.

Haven't been very pleased with the way that program was not only set up and administer but even deployed.

Green, we are green power really looking at the two markets that are going to be driving electric school bus adoption here one is new York.

Which has 100% germane school buses is on their roadmap by 2035, it's about $15 billion of market opportunity.

Which has 100% Deere mission school buses. It is on their roadmap by 2035, it's about $15 billion of.

Currently they've got N y S VIP vouchers.

They've got a half a billion dollar bond.

Bond Act and $100 million in 'twenty twenty-five budget, just for electric school buses alone and they just announced.

<unk> market opportunity.

And currently they've got N y S VIP vouchers.

They've got a half a billion dollar bond.

At the end of last month and additional $200 million.

Bond Act and $100 million in 'twenty twenty-five budget, just for electric school buses alone and they just announced.

So we really see a lot of opportunities in the New York market. They also have opportunities, where they're incentivizing via the G. Giving you more money towards the purchase of the school bus it has BTG capabilities.

Brendan Riley: They just announced at the end of last month an additional $200 million. We really see a lot of opportunities in the New York market. They also have opportunities where they're incentivizing V2G, giving you more money towards the purchase of a school bus if it has V2G capabilities. Schools are eligible under this program to get the chargers installed or partially paid for. In California, where we've had really a longstanding electric school bus program, there's an assembly bill out there, 579, which again mandates 100% zero-emission school buses by 2035. There, it's about a $10 billion opportunity all in. They've got $500 million in the zero-emission school bus initiative. They've got a school bus set-aside program where money is specifically set aside just to be spent on the school bus program.

At the end of last month and additional $200 million.

So we really see a lot of opportunities in the New York market. They also have opportunities.

And our schools are eligible under this program to get the Chargers installed or partially paid for now in California, where we've had really a longstanding.

I think giving.

Giving you more money towards the purchase of a school bus it has BTG capabilities.

And our schools are eligible under this program to get the Chargers installed or partially paid for now in California, where we've had really a long standing.

<unk> Electric school bus program.

Theres, an assembly bill out there 579, which again mandates 100% zero emission school buses by 2035, there it's about a $10 billion opportunity all in.

Electric School bus program.

Theres, an assembly bill out there $5 79, which again mandates 100% Zero mission school buses by 2035, there, it's about a $10 billion opportunity all in.

And they've got $500 million and the zero emission School bus initiative.

They've got a school bus set aside program, where money specifically set aside just to be spent on the school bus program.

And they've got $500 million and the zero emission School bus initiative.

We have H bit of it which is the hybrid.

They've got a school bus set aside program, where money specifically set aside just to be spent on the school bus program.

And electric vehicle incentives.

Program, which basically as immediately.

Brendan Riley: We have HVIP, which is the hybrid and electric vehicle incentive program, which basically pays immediately the dealer or the OEM for a portion or all of the vehicles. We got AQMD programs and the VW mitigation funds that we can draw from also. Next slide, please. We want to look at the competitive landscape. Fraser Atkinson earlier went on to say we make a Type A and a Type D school bus. The Type A is a Class 4 school bus that we make actually on our own platform. If you go across other manufacturers, there's no other platform, there's no other manufacturer that uses their own platform. They buy somebody else's platform and they modify it. They convert it.

We have H bit of it which is the hybrid.

The the dealer or the OEM.

And electric vehicle incentives.

For a portion or all of the vehicles, we got a QM D programs and the VW mitigation.

Program, which basically pays.

Immediately.

The dealer or the OEM.

<unk> that we can draw from also.

For a portion or all of the vehicles, we got a QM D programs and the VW mitigation.

Next slide please.

Funds that we can draw from also.

So we want to look at the competitive landscape again Frasier earlier went on to say, we make a type a and a type D School bus the type as a class for school bus that.

Next slide please.

So we want to look at the competitive landscape again Frasier earlier went on to say, we make a type a and a type D School bus the type as a class for school bus that.

We make actually.

On our own platform. If you go across other manufacturers. There is no other platform. There's no other manufacturer that uses their own platform. They buy somebody else's platform and they modified they convert it. So we have a native E V platform that we build our body on which is we believe incredibly compelling.

We make actually.

On our own platform. If you go across other manufacturers. There is no other platform. There's no other manufacturer that uses their own platform. They buy somebody else's platform and they modified the convert it. So we have a native E V platform that we build our body on which is a wee.

Brendan Riley: So, we have a native EV platform that we build our body on, which is, we believe, incredibly compelling, as far as warranty coverage and exposure, longevity, durability, compelling nature of the vehicle. There's a lot of, I mean, ours isn't, you know, something that was changed in essentially a garage at some point. The other thing that GreenPower has that none of the other competitors really meet in this space is we've got all four items checked here. We've got the HVIP-eligible vehicle, New York school bus contract. We've got really, really big batteries, comparatively to a lot of the folks in the Type A school bus space, which enables us to have a range or this vehicle-to-grid capability. We have the battery capacity listed below. In the Type D school bus or the Class 8 school bus, that's the flat-nosed school bus.

As far as warranty coverage and exposure.

Longevity durability compelling nature of the vehicle there is a lot of I mean ours isn't you know.

We believe incredibly compelling.

As far as warranty coverage and exposure.

Something that was changed and essentially garage at some point.

Longevity durability compelling nature of the vehicle there is a lot of I mean ours isn't you know.

The other thing that Green power has that none of the other competitors really meet in this space is we got all four items checked here, we've got the H for Belgium will be vehicle, New York School bus contract we've got.

Something that was changed and essentially garage at some point.

<unk>.

Really really big batteries.

Comparatively to a lot of the folks in the.

Type a school bus space, which enables us to have range or this vehicle to grid capability.

Really really big batteries.

Comparatively to a lot of the folks in a type a school bus space, which enables us to have a range for this vehicle to grid capability.

And we have the battery capacity listed below in the type D School bus of the class eight school bus that's flattened out of school bus and you know a lot of people are here might not realize that with these flattened out of school buses the safety factor for the students.

And we'd have the battery capacity listed below in the tight D School bus of the class eight school bus at the flattened out of school bus and you know a lot of people are here might not realize that with these flattened out of school buses the safety factor for the students.

Brendan Riley: A lot of people here might not realize that with these flat-nosed school buses, the safety factor for the students and everyone on the road is increased immensely. They also refer to these as transit-style school buses. You don't have this nose in front, this hood in front of you as a driver. So, you're really cab forward. Your seat is at the front of the bus. You have full front control. Your visibility is really right down to the street in front of the vehicle without this huge blind spot in front. California's largely adopted this type, and actually on the West Coast, they've been largely adopted, mostly due not only to passenger capacity and the heavy-duty nature of it, and the way they ride. There are a lot of benefits to the transit-style bus.

And everyone on the road is increased immensely. They also refer to these as transit South School buses you don't have this nose in front. This this hood in front of you as a driver. So youre really cab forward. Your seat is at the front of the bus E. A forefront control and your visibility is really right down to the street and.

And everyone on the road has increased immensely. They also refer to these as transit South School buses you don't have this nose in front. This this hood in front of you as a driver. So youre really cab forward. Your seat is at the front of the basi, a forefront control and.

Front of the vehicle without this huge blind spot in front California's largely adopted.

And your visibility is really right down to the street in front of the vehicle without this huge blind spot in front California's largely adopted this type in action in the west coast, they've been largely adopted mostly due not only to.

This type in action in the West coast, they've been largely adopted mostly due not only to passenger capacity and the heavy duty nature of it.

And the way they ride or there are a lot of benefits of the transit Sal bust, but the visibility for the safety of the students crossing in front or being in front of the bus is.

Passenger capacity and the heavy duty nature of it.

And the way they ride there are a lot of benefits of the transit Sal bust, but the visibility for the safety of the students crossing in front or being in front of the bus is.

Immensely compelling and.

Brendan Riley: But the visibility for the safety of the students crossing in front or being in front of the bus is immensely compelling. If you look at our product compared to the others, it's our purpose-built chassis. We're on the HVIP eligibility. We're on the New York school bus contract. Again, we've got very large batteries that make them incredibly compelling. The bus seats up to 90 students, which is the highest capacity of any school bus in our class. We really have industry-leading battery capacity with almost 400 kilowatt-hours in the BEAST and just under 200 kilowatt-hours in the Nano BEAST. Next slide, please, Fraser.

And if you look at our product compared to the others you know it's a it's our purpose built chassis.

Amounts are compelling.

We're on the <unk>.

And if you look at our product compared to the others you know it's a it's our purpose built chafee.

Eligibility.

We're on the New York School bus contract.

We're on the H Rip.

Again, we've got a very large batteries that make them incredibly compelling the bus seats up to 90 students, which is the highest capacity of any school bus and our class.

Ability.

We're on the New York School bus contract.

Again, we've got very large batteries that make them incredibly compelling the bus seats up to 90 students, which is the highest capacity of any school bus and our class.

And.

We really have industry, leading battery capacity with almost 400 kilowatt hours and the Megabits and just under 200 kilowatt hours and the Beast.

And.

We really have industry, leading battery capacity with almost 400 kilowatt hours and the Megabits and just under 200 kilowatt hours and the Beast.

And the next slide please for Asia.

Just I'll just speak to this slide and then turn it back to you Brendan.

And the next slide please for Asia.

Green power in its most recent fiscal year ended March 31st or ending March 31, 2025, we delivered 34 of the larger Beast School buses in two of the smaller type a nano B school buses.

Fraser Atkinson: I'll just speak to this slide and then turn it back to you, Brendan. GREENPOWER in its most recent fiscal year ended March 31st or ending March 31st, 2025, we delivered 34 of the larger BEAST school buses and two of the smaller Type A NanoBEAST school buses, which gives you some idea that the NanoBEAST is early days for GREENPOWER. As we build up our book and our production capabilities, you know, we expect to see, I would say a higher or disproportionately higher number of the Type A school buses in relation to the overall market. If we went back to that number on our previous slide of 490,000 school buses nationwide, there's almost 100,000 of those that are Type A. So that gives you an idea of, you know, we are just started on this market.

Just I'll just speak to this slide and then turn it back to you Brandon.

Green power in its most recent fiscal year ended March 31 per ending March 31st 2025.

Which gives you some idea that the nano Beast is early days for Green power third Joe as we build up our book and our production capabilities.

Delivered 34 of the larger Beast school buses and two if there's smaller type a nano B school buses.

<unk> gives you some idea that the nano Beast is early days for Green power third Joe as we build up our book and our production capabilities.

We expect to see you all.

I would say a higher are disproportionally higher number of the Taipei school buses in relation to the overall market.

We expect to see you all.

If we went back to that number on our previous slide of 490000 school buses nationwide Theres almost 100000 adults that are tied back. So that gives you at US idea of we are just started on this market and in fact to give it some context.

I would say a fire or a disproportionately higher number of the Thai based school buses in relation to the overall market.

If we went back to that number on our previous slide of 490000 school buses nationwide Theres almost 100000 adults that are tie back. So that gives you at US idea of Joe. We are just started on this market and in fact to give it some context.

We have our first delivery that where we have our.

Fraser Atkinson: In fact, to give it some context, we have our first delivery that we have the NanoBEAST organized for the state of New York. Really excited about not just that delivery, but really getting that whole market going in terms of our offering, which is the only purpose-built Type A school bus. In terms of our order book, we have approximately $60 million of orders for both the BEAST and the NanoBEAST. A significant chunk of this is in various stages of production for customers in the states listed on this slide. We also have an active qualified pipeline that, in addition to the states that we have the order book, includes half a dozen other states.

The non obese organized for the state of New York and are really excited about not just that delivery but.

We have our first delivery that where we have our.

Really.

The non obese organized for the state of New York.

Really getting that whole market going in terms of our offering which is the only purpose built type a school bus.

And are really excited about not just that delivery, but really.

Really getting that whole market going in terms of by our offering which is the only purpose built typing a school bus.

In terms of our order book, we have approximately $60 million of orders.

For both the Beast Amlin animal Beast.

A significant chunk of this is at various stages of production.

In terms of our order book, we have approximately $60 million of orders.

For both the Beast Amlin animal Beast.

For customers in the states listed on this slide.

And a significant chunk of this is at various stages of production.

And we also have an active qualified pipeline that in addition to the states. So we have the order book.

For our customers and the states listed on this slide.

<unk> includes a half a dozen other states. So we see growth both within the core states that we've talked about so far in this presentation being New York and California, but we also see a geographic spread in terms of a number of other states that have.

And we also have an active qualified pipeline that in addition to the states. So we have the order book.

Fraser Atkinson: So we see growth both within the core states that we've talked about so far in this presentation, being New York and California, but we also see a geographic spread in terms of a number of other states that have significant desire to adopt electric school buses. I mentioned tariffs at the beginning of the presentation, and I didn't really do it justice in the context that, you know, tariffs hammered us not just in terms of the uncertainty of how they would play out with our supply chain, ultimately the costs and the timing of production. But in our case, we had parts that we needed for ongoing production that sat in ports for months. Brendan Riley and the team were able to get these issues substantially resolved through last month.

Significant desire to adopt.

Adopt electric school buses.

You mentioned tariffs at the beginning of the presentation and I Didnt really do it justice in that context that yeah.

Significant desire to adopt.

Adopt electric school buses.

Terrorists hammered us not just in terms of the uncertainty of how they would play out with our supply chain ultimately the costs and the timing of production, but in our case, we had parts that we needed for ongoing production that are sat in ports for months.

Mentioned tariffs at the beginning of the presentation and I.

It Didnt really do it justice to in that context that yeah.

And Brendan and the team were able to get there is issues substantially resolved.

Bye y'all through last.

Last month.

And Brendan and the team were able to get there is issues substantially resolved.

So from sort of the March April timeframe toll till a pathway through July.

Bye y'all through last.

You know in some cases, we had a complete stop in terms of our production. We're now able to resume and we also have a plan in terms of the tariffs as they sit today in terms of how green power should best produce a vehicle given the current regime of tariffs.

Last month.

Fraser Atkinson: So from sort of the March, April timeframe till halfway through July, in some cases, we had a complete stall in terms of our production. We're now able to resume. We also have a plan in terms of the tariffs as they sit today in terms of how GREENPOWER should best produce a vehicle given the current regime of tariffs. Lastly, as a bit of a departure from just building and delivering a school bus to a school bus operator or school district or a dealer for deployment with one or the other, today we announced a contract that we signed with the state of New Mexico for more than $5 million for an electric school bus pilot project. The first phase, which plans to start the middle of September, will involve three of our Type A Nano BEAST.

So from sort of the March April timeframe toll till a pathway through July.

You know in some cases, we had a complete store in terms of our production. We're now able to resume and we also have a plan in terms of the tariffs as they sit today in terms of how green power should best produce a vehicle given the current regime of tariffs.

And lastly, the.

As a.

A bit of a departure from just building and delivering a school bus to school bus operator, or a school district or a dealer for deployment with one or the other is today, we announced a contract that we signed with the state of New Mexico.

And lastly, the.

As a.

For more than $5 million for an electric school bus pilot project and the first phase, which plans to start the middle of September well involve three of our five day non obese.

And those will be each of the three will be deployed for six weeks in a school district and moved onto the next and then the next and so the first year. Our focus is around the type a school bus and then the second year. The plan is and after the first year they'll stay to new Mexico.

Fraser Atkinson: Each of the three will be deployed for six weeks in a school district and moved on to the next, and then the next. The first year, our focus is around the Type A school bus. Then the second year, the plan is, after the first year, the state of New Mexico will determine how they want to use those three on an ongoing basis. Each location we go to, we will be setting up charging. We are going to be using different types of chargers, both level two and level three, so they really get the full experience. The reports that we help generate for the state will give them an incredible database in terms of how they can further the adoption of electric school buses. The second year will involve two of our BEAST and one of our Mega BEAST.

We will determine how they want to use those three on an ongoing basis.

At each location, we go to well be setting up charge and we're gonna be using different.

We will determine how they want to use those three on an ongoing basis.

The types of Chargers, both level, two and level three so they really get the full experience and the reports that we help generate for the state will give them at.

At each location, we go to well be setting up charge and we're gonna be using different.

The types of Chargers, both level, two and level three so they really get the full experience and the reports that we helped generate four to state will give them at.

An incredible database in terms of how they can further the adoption of electric school buses. The second year long ball two of our beef and one of our Mega Beast and as Brendan noted the Mega Beast. The objective there is.

An incredible database in terms of how they can further the adoption of electric school buses the second ear worn ball two of our beef and one of our Mega Beast and as Brendan noted the Mega Beast. The objective there is to also involved that vehicle with BTG.

Is to also involve that vehicle with BTG.

Fraser Atkinson: As Brendan Riley noted, the Mega BEAST, the objective there is to also involve that vehicle with V2G. Once again, in the same spirit as the Nano BEAST, we will be, we are not going to move that vehicle around to different school districts. It will be set up with just one. The other two BEAST will move around to school districts similar to the Nano BEAST, giving us a very thorough coverage of the state and a great database for them to work with on the product. We are back to slide 10.

So once again in the same spirit as an animal based is that will be.

No, we're not going to move that vehicle around to different school districts. It it'll be set up with just one but the other two b's will move around to school district, similar to the nano Beast, giving us a very thorough coverage of the state and a great database for them to work with on the product.

So once again in the same spirit as an animal based is that will be yes.

We're not going to move that vehicle around to different school districts. It it'll be set up with just one but the other two b's will move around to school district, similar to the nano Beast, giving us a very strong.

Covered.

Okay.

And we're back to slide 10 four.

Thanks for that.

Sure.

Paul.

Yes, Thank you Fraser and we've done we've conducted these are pilot projects, namely the one in West Virginia to where we really got.

And we're back to slide 10 four.

Brendan Riley: Yeah, thank you, Fraser. We've conducted these pilot projects, namely the one in West Virginia, where we really got the fact that the school districts participated in the project, in the program, and were able to operate the vehicles. You could really understand their sweet spot, what routes they could possibly electrify, and how this gets incorporated into the fleet. The project is, we think, destined to be very successful, as was the West Virginia project. We were talking about our platform, GreenPower's platform, that's really one of our main differentiators from all of the competitors in the space. This is our EV Star platform. This is an incredibly compact, but with high load capacity, long range. Again, it's purpose-built. We build this vehicle from the ground up as an EV. It has some of the best cargo capacity.

Yeah. Thank you Fraser and we've done we've conducted these are pilot projects.

They.

The fact that the school districts participated in the project and the program and we're able to operate the vehicles you could really understand their sweet spot what routes they can possibly electrify.

Namely the one in West, Virginia to where we really got.

They.

And how this gets incorporated into the fleet.

The.

The project is we think is destined to be very successful as well as the West Virginia project.

And how this gets incorporated into the fleet.

The.

So.

We were talking about our platform Green power platform, that's really one of our main differentiators from all of the competitors in the space and this is R. E V. Starr platform. This is a an incredibly compact.

The project is we think is is destined to be very successful as was the West Virginia project.

So are.

But with high load capacity long range and again, it's purpose built we build this vehicle from ground up as an EV.

It's a it has.

But with high load capacity long range and again, it's purpose built we build this vehicle from ground up as an EV. It's.

Some of the best cargo capacity.

So low payload capacity allows us to put 7000 pounds body and passengers on on this vehicle, which is really industry leading.

It has.

Some of the best cargo capacity, so low payload capacity allows us to put 7000 pounds body and passengers on on this vehicle, which is really industry leading.

Brendan Riley: So low payload capacity allows us to put 7,000 pounds of body and passengers on this vehicle, which is really industry-leading, and is really our leg up on the competition with those converted vehicles. This purpose-built vehicle has both Level 2 and Level 3 capabilities on it, including V2G. We've built over 700 and delivered over 700 of these. So we've got the parts worked out. We've got everything worked out as far as the supply chain, parts, service, integration. Again, with that size battery, we do have a leading range of 150 or so miles on a single charge. Next slide, please, Fraser. The reason we show this platform is that this is our fungible platform that we use to build our school bus. We also use it to build our trucks, our stake bed, our reefer unit, our Mobility Plus, which is our cutaway shuttle bus product.

And as really are our leg up on the competition with those converted vehicles and this purpose built vehicle has both level two and level three capabilities on it including BTG.

We built over seven and delivered over 700 of these so when he got here.

The parts worked out we've got all that everything worked out as far as the supply chain parts service.

We built over seven and delivered over 700 of these so when you've got the parts worked out we've got all of everything worked out as far as the supply chain parts service.

The integration.

And again, you know with with that size battery, we do have leading range of 150.

Or sell miles on a single charge next slide please frazier.

<unk> integration.

And again, you know with with that size battery, we do have leading range of 150.

So the reason we show this platform is that this is our fungible platform that we used to build.

Or so miles on a single charge backs like lease Frazier.

Our school bus we also use it to build our trucks our stake bed, our reefer unit.

So the reason we show this platform is that this is our fungible platform that we used to build.

Our mobility, plus which is a cutaway shuttle bus product it's a.

Our school bus we also use it to build our trucks our stake bed, our reefer unit.

Very versatile platform and has really allowed us to pivot.

Our mobility, plus which is our cutaway shuttle bus product it's a.

Brendan Riley: It's a very versatile platform and has really allowed us to pivot and refocus more focus, basically with the same thing, into the school bus space. When we've built these, they could have been used for trucks, but now we really see the truck market softening, and it allows us to use the same product for the school bus market. Again, the design is industry-leading. What we haven't discussed yet here on this call is the bodies that we produce. Fraser likes to say they look futuristic, and they do. They do have the most room inside, the best space inside. It's space-age aluminum superstructure that we use for these vehicles. So it doesn't corrode. It's lighter weight. It's stronger. It will last longer. It's a higher durability standard.

And written refocus more focus basically with the same thing into the school bus space. When we built these you know they could have been used for trucks, but now we really see the truck market softening and it allows us to use the same.

Very versatile platform and has really allowed us to pivot.

Product for the school bus market and.

Again, you know the design is industry leading.

Product for the school bus market and.

What we haven't discussed yet here on this call as the bodies that we produce.

Again, you know.

The design is our industry.

Frasier likes to say, they look futuristic and they do and they do have the most room inside the best space inside but its space age aluminum.

Industry, leading what.

What we haven't discussed yet here on this call as the bodies that we produce.

Frasier likes to say, they look futuristic and they do and they do have the most room inside the best space inside but its space age aluminum.

Superstructure that we use for these vehicles. So it's not it doesn't corrode, it's lighter weight its stronger.

Will last longer as higher durability standard.

Superstructure that we use for these vehicles. So it's not it doesn't corrode, it's lighter weight its stronger.

Our medium duty vehicle has a heavy duty body on it which is also a first.

It will last longer as higher durability standard.

And really gives us this incredibly nice handling.

Brendan Riley: Our medium-duty vehicle has a heavy-duty body on it, which is also a first, and really gives us this incredibly nice handling, long lifespan. We have the rooftop air conditioning and heating unit on it, which creates a very comfortable cabin, highest headroom in the Type A class. It again, it shows well. It presents well. It lasts longer. It requires at least maintenance, again, no corrosion, all that stuff. Ideal for the Northeast where the lion's share of these, we're anticipating them to be deployed. This platform was tested also independently by the federal government, under the FTA, at the Altoona testing ground or the Altoona proving ground in Pennsylvania, where it received a 92.2, which at the time, was the highest score for any EV or medium-duty vehicle. It's still, you know, among the highest scores ever tested at Altoona.

Our medium duty vehicle has a heavy duty body on it well.

Long life.

Which is also a first.

Lifespan.

And really gives us this incredibly nice handling.

We have the rooftop air conditioning and heating unit on it which creates a very comfortable cabin, a highest headroom and the type a class.

Long.

Lifespan.

We have the rooftop air conditioning and heating unit on it which creates a very comfortable cabin, a highest headroom and the type a class.

And.

Again it.

It shows well it presents well it last longer requires at least maintenance.

Again, no corrosion all that sort of ideal for.

And it again it.

It shows well it presents well it last longer requires at least maintenance.

The northeast, where the lion's share of these we're anticipating them to be deployed.

Again, no corrosion all of that stuff ideal for.

This platform was tested also independently by the federal government.

The northeast, where the lion's share of these we're anticipating them to be deployed.

Under the FTA at the Altoona testing ground or the Altoona, proving ground and Pennsylvania, where it received a 92.2, which at the time.

This platform was tested also independently by the federal government.

Under the F T a.

At the Altoona testing ground or the Altoona, proving ground, and Pennsylvania, where it received a 92.2, which at the time.

Was the highest score for a.

Any EV or medium duty vehicle.

But.

Was the highest score for.

It's still you know the among the highest scores ever tested at all tuna and that includes the maintain ability the durability. The all the different aspects of the vehicle that test is has been designated so the government.

Any EV or medium duty vehicle.

But.

Brendan Riley: That includes the maintainability, the durability, all the different aspects of the vehicle that test is designated so the government knows what they're spending their money on. It used to be a buyer beware test. Now it is a pass-fail test and does have a score given to it. Not only did we pass, we got an incredibly high score. Next slide, please, Fraser. Fraser was talking about some of our issues we're having with tariffs and, you know, the new normal here with what's going to happen with cost of goods and our cost for components for supply.

<unk> knows what they are spending their money on so it used to be a buyer Beware task now it is a pass fail test and does have a score given to it not only did we passively gotten incredibly high score.

Knows what they are spending their money on so it's used to be a buyer Beware task now it is a pass fail test and does have.

Next slide please frazier.

Score given to it not only did we passively gotten incredibly high score.

So.

Frasier was talking about some of our issues, we're having with our tariffs and.

Next slide please frazier.

So.

And other than the new normal here with what's going to happen with cost of goods and our cost for components for supply.

Frasier was talking about some of our issues, we're having with our tariffs and.

And other than the new normal here with whats going to happen with cost of goods and our cost for components for supply.

One thing that Green power has always leveraged but will continue to leverage is our manufacturing.

Brendan Riley: One thing that GreenPower has always leveraged but will continue to leverage is our manufacturing light approach where we have the ability to not only build and assemble here in the U.S., but we can leverage our contract manufacturers in Malaysia and other places, which allows us to get vehicles produced in a more scalable manner where we can have higher throughput capacity without necessarily creating. The business is still lumpy. You can't really expand. The roadside is littered in our industry with companies that just had too much capacity, too much space, too much overhead. The business again, was too lumpy, and it just was unmanageable. At GreenPower, not only have we made our U.S.

One thing that Green power has always leveraged but we'll continue to leverage is our manufacturing.

Light approach.

Where we have.

The ability to not only build and assemble here in the U S. But we can leverage our contract manufacturers in Malaysia, and other places, which allows us to get.

Light approach, where we have.

The ability to not only build and assemble here in the U S. But we can leverage our contract manufacturers in Malaysia, and other places, which allows us to get.

<unk> produced and a more scalable manner, where we can have higher throughput capacity without necessarily creating the business is still lumpy. So.

You can't really expand the roadside is littered in our industry with companies that just had too much capacity too much space too much overhead.

And the business again was too lumpy and I just.

Was unmanageable.

At Green power in and not only have we.

And the business again was too lumpy and I just.

Made our U S operations more cost effective through consolidation and.

Was unmanageable.

At Green power in and not only have we.

Really minimized areas, where we thought we could really cut N.

Made our U S operations more cost effective through consolidation and.

Brendan Riley: operations more cost-effective through consolidation and really minimized areas where we thought we could really cut in, but leveraging our international, contract manufacturing, we believe, still has the winning formula and allows us to really build and scale up and scale down when our orders are, as our order book develops. With that, I will turn it back to Fraser. Thank you, folks.

But leveraging our international.

Contract manufacturing has we believe still has the winning formula and allows us to really build and scale up and scale down.

You know really minimized areas, where we thought we could really cut in.

But leveraging our international.

Contract manufacturing has we believe still has the winning formula and allows us to really build and scale up and scale down.

When you know our orders are as our order book.

<unk> develops.

And with that I will turn it back to Frazier. Thank you folks.

When you now our orders are as our order book.

Hey, Brendan.

Develops.

So quickly.

And with that I will turn it back to Frazier. Thank you folks.

With regards to our recently completed and filed our year end in the year ended March 31 2025.

Fraser Atkinson: Thank you, Brendan. So quickly, with regards to our recently completed and filed year-end, being the year ended March 31st, 2025, we reported revenues of just under $20 million, which was down from the previous year. If you took out the Workhorse, the cab chassis that we sold to Workhorse in the previous fiscal year, we actually had an uptick in the rest of the business. That gives us some idea of the base that we're working with moving forward as the March 31st, 2025 is more representative of where we're going over the next year or two as we, you know, complete the rebuild that I referenced at the outset of this presentation. One of the things that we've always been able to accomplish is we continue for the vehicles we sell quarter after quarter, year over year, to generate a gross profit.

Hey, Brendan.

So quickly.

With regards to our recently completed and filed our year end in the year ended March 31 2025.

Ported revenues of just under $20 million, which was down from the previous year. If you took out the workhorse. The cab chassis that we sold to work horse in the previous fiscal year.

<unk> revenues of just under $20 million, which was down from the previous year. If you took out the workhorse the cab chassis that we sold to workhorse in the previous fiscal year.

We actually had an uptick in the rest of the business.

And so that is gives us some idea of the base that we're working with moving forward as the March 31 2025.

We actually had an uptick in the rest of the business and so that is gives us some idea of the base that we're working with moving forward as the March 31, 2025 is more representative of.

Is more representative of.

We're we're we're going over the next year or two as we complete the rebuild that I referenced at the outset of this presentation.

But one of the things that we've always been able to accomplish as we continue for the vehicles, we sell to quarter after quarter year over year generate a gross profit.

But one of the things that we've always been able to accomplish as we continue for the vehicles, we sell to quarter after quarter year over year generate.

And if I looked we've shown this chart for a couple of years now and it seems like all the ones in Red scene, we we have to change because one or two of them go by the wayside and that really is.

Fraser Atkinson: If I looked, we've shown this chart for a couple of years now, and it seems like all the ones in red we have to change because one or two of them go by the wayside. That really is that if you can't define a sustainable business model in terms of generating gross profit on your sales of products, you know, eventually, you have to either increase your prices, change your business model, or you're not going to be able to continue. The 9.7% was the gross profit for the year for GreenPower Motor Company. I should note that in the fourth quarter, the gross profit was 10%, I think 11% to 12%. That's after all of the adjustments that were posted for both the quarter and as well for the year.

And if I looked we've shown this chart for a couple of years now and it seems like all the ones in Red we.

If you can't define a sustainable business model in terms of generating gross profit on yourselves of products.

We have to change because one or two of them go by the wayside and that really is that if you can't define a sustainable business model in terms of generating gross profit on yourselves of products.

That Oh eventually your.

To either increase your prices change your business model or you're not going to be able to continue.

Y'all eventually your.

The nine.

Nine 7% was the gross profit for the year for Green power I should note that in the fourth quarter.

You have to either increase your prices changed your business model or you're not going to be able to continue.

Nine.

Nine 7% was the gross profit for the year for Green power I should note that in the fourth quarter.

The gross profit was 11 10, I think 11% to 12% and that's after all the adjustments that were posted for the for both the quarter and as well for the year. So if you backed out the yearend adjustments or realizable value adjustment to our inventory right.

Downs some of which are you know you might reasonably expect to recur others that are one time than before all those adjustments. Our gross profit was in the 22% to 23% before adjustments and that is our ongoing target.

Fraser Atkinson: So if you backed out the year-end adjustments or realizable value adjustments or inventory write-downs, some of which are, you know, you might reasonably expect to recur, others that are one-time, then before all those adjustments, our gross profit was in the 22% to 23% before adjustments. That is our ongoing target as we get the business focused on, you know, the core parts of our order book, which right now is our school buses, both the Type A and the Type D. As noted on the right there, the rest of the companies other than Tesla, as shown on this slide, have significant gross profit losses being that, you know, the cost of goods sold substantially exceeds their revenue that they're attaining on their sale of their vehicles and products. Capital structure, total issued shares at the end of July was just over 30 million shares.

Downs some of which are you know you might reasonably expect to recur or others that are one time than before all those adjustments. Our gross profit was in the 22% to 23% before adjustments and that is our purpose.

As we get the business focused on.

The core parts of our order book, which right now is our school buses pulp the type a and the type D.

We get the business focused on.

And as noted on the right there the rest of the companies other than Tesla.

The core parts of our order book, which right now is our school buses pulp the type a and the type D.

Our as shown on this slide.

And as noted on the right there the rest of the companies other than Tesla.

<unk> had significant gross profit losses being that.

The cost of goods sold substantially exceeds their revenue that there are attaining on their sell their vehicles and Prakash.

Our.

As shown on this slide.

<unk> had significant gross profit losses being that.

The cost of goods sold substantially exceeds their revenue that there are attaining on their sell their vehicles and properties.

Capital structure, our total issued shares at the end of July was just over 30 million shares we had the incentive stock options and warrants.

Which at today's price would either would largely be out of the money for the incentive stock options and almost all of the warrants would be out of the money as well.

Fraser Atkinson: We had the incentive stock options and warrants, which at today's price would either largely be out of the money for the incentive stock options, and almost all of the warrants would be out of the money as well. But fully diluted would be 36.7 million shares. We have an operating demand loan with BMO for up to $6 million. We also have a revolving loan facility from the Export Development Bank for up to $5 million, and that's for production financing, not working capital. Lastly, strong support from the directors of the company with an aggregate of more than $5 million of funding by the directors that is subordinated to the two senior positions. I'd like to get to Q&A. I think we've covered most of these items already in our presentation. At this juncture, Craig, can we open it up for questions?

Which at today's price would either would largely be out of the money for the incentive stock options and almost all of the warrants would be out of the money as well.

And but fully diluted would be $36 7 million chairs.

We have an operating demand along with BMO.

For up to $6 million, we also have a revolving loan facility from export development Bank.

But fully dilutive would be $36 7 million shares.

We have an operating demand along with BMO.

For up to $5 million and that's for production financing not working capital and lastly, a strong report.

Up to $6 million, we also have a revolving loan facility from export development Bank.

Support from the directors of the company with an aggregate of more than $5 million of funding by the directors that is subordinated to.

For up to $5 million and that's for production financing not working capital.

Lastly, our strong.

Support from the directors of the company with an aggregate of more than $5 million of funding by the directors that is subordinated to.

The two senior positions.

So I'd like to get to Q&A, So I I'm not going I think we've covered most of these items already in our presentation.

The two senior positions.

But at this juncture Gregg can we open it up for questions.

So I'd like to get to Q&A, So I I'm not going I think we've covered most of these items already in our presentation.

Absolutely we can.

But at this juncture Gregg can we open it up for questions.

Please please press the Q&A button and type in your question participants and as we can only take your written questions. Today, we ask that you. Please not use the raise hand button.

Craig Irwin: Absolutely, we can. Please press the Q&A button and type in your question, participants. As we can only take your written questions today, we ask that you please not use the raise hand button. Fraser, there are already several questions in the queue. Would you like to choose and read them aloud, or shall I?

Absolutely we can.

Cliff. Please press the Q&A button and type in your question participants and as we can only take your written questions. Today, we ask that you. Please not use the raise hand button.

Fraser there are already several questions in the queue would you like to choose and read them aloud or shall I.

Did you do so I just pulled them up so in the first one is a tariff question. So we'll go with.

Fraser there are already several questions in the queue would you like to choose and read them aloud or shall I.

Fraser Atkinson: am happy to do so. I just pulled them up. The first one is a tariff question. We will go with, how does, if at all, do tariffs on Canada affect the company? Lastly, how much of an influence is BYD in your production, and can you see this growing? Their influence. I will deal with the first part, and I know Brendan Riley will be able to provide some commentary on the BYD portion of the question. The tariffs on Canada, to the extent that the current automotive agreement that is, and I call it the automotive agreement, but the U.S.-Mexico-Canada auto agreement, does exempt all transactions that are pursuant to that agreement, from the 35% tariffs on goods flowing from the U.S. into Canada, or from Canada into the U.S. We do not have as definitive a table in terms of goods flowing the other way.

Did you do so I just pulled them up.

Without us if at all does tariffs on Canada.

So in.

First one is a tariff question. So we'll go with.

The company.

How much of an influence as BYD and your production and can you see this growing in brackets, there influence I'll deal with the first part and I know Brendan.

About us if at all does tariffs on Canada affect the company and lastly, how much of an influence as BYD and your production and can you see this growing in brackets, there influence I'll deal with the first part and I know Brendan.

We'll be able to.

Provide some commentary on the BYD portion of the question.

The tariffs on Canada to the extent that.

We will be able to <unk>.

You know the current automotive agreement that is and I call. It the automotive agreement, but the the U S Mexico, Canada.

Provide some commentary on the BYD portion of the question.

The tariffs on Canada to the extent that.

The current automotive agreement that is and I call. It the automotive agreement, but the the U S Mexico, Canada Auto agreement.

Auto agreement.

Is does exempt all transactions that are pursuant to that agreement.

From the proposed 35 or I shouldn't say propose but the 35% tariffs on goods flowing from the U S into Canada.

Is does exempt all transactions that are pursuant to that agreement.

I can't say from Canada into the U S.

From the proposed 35 person I shouldn't say propose but that 35% tariffs on goods flowing from the U S into Canada.

We don't have a definitive a table in terms of goods flowing the other way so right now as a structure for we don't have anything that we're manufacturing.

Sorry, I cant from Canada into the U S.

We don't have as definitive a table in terms of goods flowing the other way so right now as a structure for we don't have anything that we're manufacturing.

In any capacity in Canada that we'd be shipping to the U S. So both in terms of the auto a trade agreement as well as the general tariff rate is that we're not caught by that.

Fraser Atkinson: Right now, as it is structured, we do not have anything that we are manufacturing in any capacity in Canada that we would be shipping to the U.S. Both in terms of the auto trade agreement as well as the general tariff rate is that we are not caught by that, but it does shine a very bright light on a sector that could result in changes ultimately that impact on our ability to complete the manufacturing process of a product in the United States and then ship it up to Canada. That is sort of the concern that we have going forward as opposed to what is in place right now. Brendan, did you want to speak to the influence of BYD?

In any capacity in Canada that we'd be shipping to the U S. So both in terms of the auto.

But it does shine a very bright light on a sector that could result in changes ultimately that impact on our ability.

Trade agreement as well as the general tariff.

Tariff rate is that we're not caught by that.

But it does shine a very bright light on a sector that could result in changes ultimately that impact on our ability.

To complete the manufacturing process of a product in the United States and then ship it up to Canada.

So that's the concern that we have going forward as opposed to what's peanut what's in place right now.

To complete the manufacturing process of a product in the United States and then ship it up to Canada.

Hey, Brendan did you want to speak to the influence of D Y D. Well BYD has a lot of influence I don't know how BYD is I don't have the inside track on what their their plans are to deal with these a pretty egregious tariffs on their products and their supply chain.

So thats sort the concern that we have going forward as opposed to what's peanut what's in place right now.

And Brandon did you want to speak to the influence of D Y D. Well BYD has a lot of influence I don't know how BYD is I don't have the inside track on what their their plans are to deal with these a pretty egregious tariffs on their products and their supply chain.

Brendan Riley: BYD has a lot of influence. I do not know how BYD, I do not have the inside track on what their plans are to deal with these pretty egregious tariffs on their products and their supply chain, which is almost entirely from China and now being incredibly heavily tariffed. I think the consensus is that BYD is waiting for the Chinese trade deal to get hammered out, and then they are going to re-decide, they are going to decide what they do. GreenPower Motor Company likes to see a fairly level playing field, and we think a lot of healthy competition in the EV space is good. So we are not rooting against them, and we are, you know, hoping that trade normalizes and that that is good for everybody.

Which is almost entirely.

From China, and now being incredibly.

Heavily tariffs the.

Which is almost entirely.

I think the consensus is that BYD is waiting for the Chinese trade deal to get hammered out and then theyre going to re decide they're going to decide what they do.

From China, and now being incredibly.

Heavily tariffs the.

I think the consensus is that BYD is waiting for the Chinese trade deal to get hammered out and then theyre going to re decide they're going to decide what they do.

We would green power.

Likes to see a fairly level, playing field and we think a lot of healthy competition in the EV space is good so we're not.

We would green power.

Rooting against them and we're hoping that.

Likes to see a fairly level, playing field and we think a lot of healthy competition in the EV space is good so we're not.

Trade normalizes and that's good for everybody.

Rooting against them and we're up in that.

Okay.

And I would certainly agree with that.

Trade normalizes and that's good for everybody.

Is G P. Considering full autonomy and that's certainly become a back that that's become topical again.

Okay.

Fraser Atkinson: I would certainly agree with that. Is GreenPower Motor Company considering full autonomy? That has certainly become topical again. It was certainly a big topic five or six years ago and then seemed to have faded off into the sidelines, but now it is back to some degree. We had done a project down in Jacksonville where several of our vehicles were deployed with a company called Perrone Robotics that did the stack, and it was a level four. So still the steering wheel and all the other, the necessary elements that a human could jump back into the seat and drive the vehicle if necessary. They had set it up where they had sort of a concierge or pilot approach. Perrone has also used a couple of our EV Stars on another project. I think that kind of indicates that it is very much a science project still.

And I would certainly agree with that.

Is G P. Considering full autonomy and that's certainly become a back that that's become topical again.

It was certainly a big.

Topic, five or six years ago, and then seem to have faded off.

And to the sidelines, but now it's back to some degree.

It was certainly a big.

Topic, five or six years ago, and then seem to have faded off.

We have done a project down in Jacksonville, where silver or of our vehicles were deployed.

And to the sidelines, but now it's back to some degree.

With a company called Carone robotics that did the stack and it was a level four so sold the steering wheel and all the other <unk>.

We have done a project down in Jacksonville, where several of our of our vehicles were deployed.

With a company called Carone robotics that did the stack and it was a level four so sold the steering wheel and all the other <unk>.

Yes.

The necessary elements of a human could jump back into the seat and drive the vehicle if necessary.

And they have set it up where they had sort of a concierge or pilot approach and we also have prone has used a couple of our EV stars on another project.

Yes.

The necessary elements of a human could jump back into the seat and drive the vehicle if necessary.

And they have set it up where they had sort of a concierge or pilot approach and we also have prone has used a couple of our EV stars on another project.

I think that kind of indicate that it's very much a science project still.

And so we're very cautious about our involvement because it can just suck up a lot of the resources both not just financial.

But I think that kind of indicate that it's very much a science project still.

Fraser Atkinson: We are very cautious about our involvement because it can just suck up a lot of the resources, not just financial, but much-needed engineering time that we need with product deployment that we might not be able to afford to devote to projects like that.

Joe.

And so we're very cautious about our Baldwin because it can just suck up a lot of the resources, both not just financial but Joe.

Much needed engineering time that we need with product deployment that we might not be able to afford to devote to projects like that.

The other thing is we're waiting to see how these lawsuits against Tesla and others Shakeout Uber.

Brendan Riley: I think the other thing is, we are waiting to see how these lawsuits against Tesla and others shake out, Uber, Waymo, and other companies that have gone the autonomous route and have had some incidents really to see what their level of exposure is. Are people really blaming the vehicle, or the autonomy for the incidents, you know, when frankly, they probably were not the fault of the vehicles. But we would like to see what that is because that will give us an idea of exposure and really what the, you know, what type of insurance we are going to need if we are even going to be able to get insurance. There is still a lot of open issues there.

<unk> and other companies that have gone the autonomous route and have had some incidents.

The other thing is we're waiting to see how these lawsuits against Tesla and others shake out.

Incidents.

Really to see what their level of exposure is are people really blaming the vehicle.

<unk> and other companies that have gone the autonomous route and have had some <unk>.

Or the autonomy for the App incidents when.

Incidents.

Really to see what their level of exposure is are people really blaming the vehicle.

Frankly, they probably werent default of the vehicles, but we'd like to see what that is because that'll give us an idea of exposure.

Or the autonomy for the App incidents when.

And really what the you know what type of insurance, we're going to need if we're even going to be able to get insurance. There. There's still a lot of open issues there.

Frankly, they probably werent default of the vehicles, but it will we'd like to see what that is because that'll give us an idea of exposure.

And really what the.

Next question is a good one not that the others arent good but this is one that we see.

You know what type of insurance, we're going to need if we're even going to be able to get insurance. There is there still a lot of open issues there.

It is going to be a real indicator as to how quickly we can achieve cash.

Fraser Atkinson: Next question. It's a good one. Not that the others aren't good, but this is one that we, you know, is going to be a real indicator as to, you know, how quickly we can achieve positive cash flow in terms of our changed business model. I know it's tough to pin down an exact number with different vehicles in play, but if you had to estimate what's the highest number of NanoBEAST you could produce in a year, assuming everything runs at peak efficiency? Right now, we're working on the reality that, you know, doing a NanoBEAST as we build up production, given that last year we delivered all of just two NanoBEAST, we've got our work cut out to really scale that up. On a practical basis, initially, it's one every two weeks.

Next question is a good one not that the others arent good but this is one that we see.

Uh huh.

Is that a cash bar in terms of our chain.

It is going to be a real indicator as to how quickly we can achieve cash.

Changed our business model.

A question I know, it's tough to pin down an exact number with different vehicles in play, but if you had to estimate what's the highest number of Nanobees you could produce in a year, assuming everything runs at peak efficiency.

Positive cash flow in terms of our chain.

Changed our business model.

A question I know, it's tough to pin down an exact number with different vehicles in play, but if you had to estimate what's the highest number of Nam obese you could produce in a year, assuming everything runs at peak efficiency.

And right now we're working on.

The reality that doing a nano beast as we buildup production given that that last year, we delivered all of just two non obese.

And right now we're working on.

The reality that doing a nano beast as we build up production given that that last year, we delivered all of just too non obese.

We've got our work cut out to really scale that up is that.

On a practical basis initially it's one every two weeks.

We've got our work cut out to really scale that up is that.

And we believe that within the first eight to 10, we can get to.

On a practical basis initially it's one every two weeks.

Where it's one a week.

Fraser Atkinson: We believe that within the first eight to ten, we can get to where it's one a week, in a location. If we have two locations, then there's the opportunity to get to eight a month or 100 a year. To give some context, with the cab and chassis that we have available to us, eight a month is pretty close to being positive cash flow. Related to this, please give us an update on the California production facility output at this time. What is the expected monthly unit output? I think we answered the second part in that if we're, you know, we could certainly do more than just NanoBEAST. We could be building reefers and BEAST, the larger school bus all at the same time. So it's not as if, you know, there's a sole activity that can only occur at one point in time.

In a location.

And we believe that within the first eight to 10, we can get to.

So if we have two locations and theres the opportunity to get to eight a month or a 100 a year.

Where it's one a week.

In a location.

And to give some context is that.

So if we have two locations and there's the opportunity to get to eight a month or a 100 a year.

With the cab chassis that we have available to us.

We can eight a month.

And to give some context is that that with the cab chassis that we have available to us.

There is a pretty close to being positive cash flow.

We can <unk> eight a month.

It is pretty close to being positive cash flow.

And related to this please give us an update on the California production facility output at this time, what is the expected monthly unit output.

And.

I think we answered the second part and that if were we could certainly do more than just non obese, we could be building a reefers and these are the larger school bus all at the same time.

And.

I think we answered the second part and that is where we.

We could certainly do more than just nano beefs, we could be building, a reefers and beasts. The larger school bus all at the same time.

So there is the it's not as if.

There is a sole activity that can only occur one point in time.

But getting a river side up and running as you know the majority of the spring was spent getting.

So there is the it's not as if.

There is a sole activity that can only occur one point in time.

Fraser Atkinson: Getting Riverside up and running, the majority of the spring was spent getting everything organized from all the different locations that we were either supporting vehicles, producing our vehicles, or, in the case of GP Truck Body, doing bodybuilding. Getting that all under one roof through the spring, was about the time period that tariffs hit and shipments were being held at port that directly impacted our throughput through Riverside. I wouldn't want to speak to the historical through the summer to date, but once we get fully up and recommencing production, we'll have a better sense of what the throughput will be in Riverside. Two questions on West Virginia that are somewhat related. What is the status of GreenPower Motor Company's relationship with the state of West Virginia? What is the status of negotiation with West Virginia? We do not actually have any, there is not any negotiation.

But getting a river site up and running.

Getting everything organized from all the different locations that we were either supporting vehicles.

As you know.

The majority of the spring was spent getting.

Producing our vehicles or.

Getting everything organized from all the different locations that we were either supporting vehicles.

In the case of G. P truck body doing bodybuilding, so getting that all under one roof through the to the spring.

Yeah.

Vehicles or.

It was about the time period that tariffs happen and shipments were being held at that.

In the case of GP truck body doing bodybuilding, so getting that all under one roof through the to the spring.

Port that directly impacted our throughput through river side, So I wouldn't want to speak to the historical through the summer to date.

It was about the time period that tariffs have had shipments were being held at port.

Port that directly impacted our throughput through Riverside, So I wouldn't want to speak to the historical through the summer to date.

But once we do.

Get fully up and Recommencing production is that we'll have a better sense of what the throughput will be in Riverside.

But once we get fully up and Recommencing production is that we'll have a better sense of what the throughput will be in Riverside.

Two questions on West Virginia.

That are somewhat a related what is the status of green powers relationship with the state of West Virginia.

Two questions on West Virginia.

And what is the status of negotiation with West Virginia.

That are somewhat are related what is the status of green powers relationship with the state of West Virginia.

We don't actually have any there isn't any negotiation, but at the context of that is that.

And what is the status of negotiation with West Virginia.

Some of them.

Some of the press and the state has talked about.

We don't actually have any there isn't any negotiation, but at the context of that is that.

Fraser Atkinson: The context of that is that some of the press in the state has talked about a whole host of issues relating to manufacturers of electric school buses. The issues and troubles of Lion Electric have been front and center in that dialogue, as well as our position that having earned the employment base and the attendant offset to our rental or lease agreement, as well as the original deal, which provided that we would have both the facility and the additional land base that would assist us for a number of different related activities on that production, that was not forthcoming and did not end up in the deal. So, it has been unfortunate that the state sort of shot first and talked second, talked after they had decided to shoot, but we are in discussions with them.

You know a whole host of issues relating to.

Some of them.

Manufacturers of electric school buses.

Some of the press and the state has talked about.

The key issues and troubles of Lion electric have been front and center in that.

You know a whole host of issues relating to.

Manufacturers of electric school buses.

And that dialogue as well as.

The issues and troubles of Lion electric have been front and center in that.

You know our position that having earned.

And that dialogue as well as.

The employment base and the attendant are offset to our rent or lease agreement.

You know our position that having earned.

As well as the.

The the employment base and the attendant are offset to our rent or lease agreement as well as the.

The original deal, which provided that we would have both the facility and the additional.

Additional land base that would assist us in for a number of different related activities on that production.

The original deal, which provided that we would have both the facility and the.

That was not forthcoming and did not end up in the deal.

Additional land base that would assist us in for a number of different related activities on that production.

No.

Its been unfortunate that the state sort of shot first and talk second Joe talked to after they had.

That was not forthcoming and did not end up in the deal.

So.

Decided to shoot at.

Its been unfortunate that the state sort of shot first and talk second Joe talked to after they had.

But we are in discussions with them and I would say that right now.

Well it is in their court in terms of.

Decided to shoot at.

But we are in discussions with them and I would say that right now.

The position that we presented.

Fraser Atkinson: I would say that right now, what is in their court in terms of the position that we presented. So, we will see what ultimately their response is to what we view as a fairly straightforward interpretation of both the contract, the lease purchase we entered into, as well as the original memorandum of understanding that was signed at the beginning of 2022. Brendan Riley, anything that you think we should add on that?

And.

So we'll see what ultimately their responses to.

Well it is in their court in terms of the.

The position that we presented and.

What we view as a fairly straightforward interpretation of both the contracts the lease purchase we entered into as well as the original memorandum of understanding that was signed at the beginning of 2022.

So we'll see what ultimately their responses to.

Brendan and anything that you think we should add on that no that was a complete and thorough thank you for Asia.

Okay.

Brennan anything that you think we should add on that no that was a complete and thorough thank you Fraser okay.

Brendan Riley: No, that was complete and thorough. Thank you, Fraser.

And.

Theirs.

Fraser Atkinson: Okay. There's a question that said, "Should have read deluded," my question earlier. Let me find your original question. Do you see shareholder value be further deleted in the future? We never ignore the capital markets. We do the best that we can under the circumstances. Having a steady stream of companies go bankrupt or into receivership is not helpful. Probably one of the most frequent questions that Brendan Riley and I get, whether we're dealing with dealers, customers, school districts, or potential partners, such as some of the largest school bus operators in North America, they all have a common basis, which is, you know, are you folks going to be around? That's our focus as being, well, we need to rebuild, do a rebuild, using a sports nomenclature.

There's sorry, there's a question that said should have read diluted my question earlier so.

Yeah.

And.

Theirs.

So let me find your original question.

There's sorry, there's a question that said should have read diluted my question earlier.

Do you see shareholder value would be further deleted in the future.

<unk>.

So let me find your original question.

Are.

We never ignore the capital markets, we do the best that we can under the circumstances are having.

Do you see shareholder value would be further deleted in the future.

A steady stream of companies go bankrupt or into receivership is not helpful.

Our.

We never ignore the capital markets, we do the best that we can under the circumstances.

Probably one of the <unk>.

Most frequent questions that Brendan and I get whether we're dealing with dealers customers school districts or potential partners such as some of the largest school bus operators in North America. They all have a common.

Having a steady stream of companies go bankrupt or into receivership is not helpful.

Probably one of the most.

Most frequent questions that brennen and I get.

Whether we're dealing with dealers customers school districts or potential partners such as some of the larger school bus operators in North America. They all have a common.

Basis, which as you know are you folks going to be around.

So that's our focus has been well we need to re.

Basis, which as you know are you folks going to be around.

Rebuilt newer rebuilt using a sports nomenclature and you know our view was that we could do this fairly quickly and not take three to five years to completely rebuild the company because we already have the great set of products and one market in particular being the school bus Mark.

So that's our focus has been well we need to read.

Rebuilt newer rebuilt using a sports nomenclature.

Fraser Atkinson: Our view was that we could do this fairly quickly and not take three to five years to completely rebuild the company because we already have the great set of products and one market in particular being the school bus market that is well positioned to, or our product set is well positioned to take an ever-increasing demand in that sector. What we believe is that rebuilding our business, getting our cost structures changed to be focused on the immediate sales opportunities that we can deploy profitably, gives us an opportunity to get to positive cash flow by the end of this year. We believe doing that, that the capital markets will recognize that because everybody else is struggling to figure out their business model on how they can make money on the sale products. That's not been a problem with GREENPOWER.

And no our view was that we could do this fairly quickly and not take three to five years to completely rebuild the company because we already have the great set of products and one market in particular being the school bus market.

Kit.

That.

Is is well positioned to.

Our product set is well positioned to take an ever increasing demand in that sector. So.

That.

Is is well positioned to.

What we believe is that rebuilding our business getting our cost structures change to be focused on the immediate sales opportunities that we can deploy profitably.

Are there products that is well positioned to take an ever increasing demand in that sector. So.

What we believe is that rebuilding our business getting our cost structure has changed to be focused on the immediate sales opportunities that we can deploy profitably.

It gives us an opportunity to get to positive cash flow by the end of this year and we believe doing that that the capital markets will recognize that.

Because.

It gives us an opportunity to get to positive cash flow by the end of this year and we believe doing that that the capital markets will recognize that.

Everybody else is struggling to figure out how their business model on how they can make money on the sale of products, that's not being a problem of green power, we've got to get our business aligned so that.

Because.

We're generating positive cash flow.

Fraser Atkinson: We've got to get our business aligned so that we're generating a positive cash flow. Great question. Can you speak to any ongoing efforts on a federal legislative front which GREENPOWER is involved with? Secondly, what is your opinion of how it is being received? I'll let you start on this.

Great question can you speak 20 ongoing efforts on our federal Legislative front, which T. P is involved with and secondly, what is your opinion of how it is being received.

We're generating positive cash flow.

Great question can you speak 20 ongoing efforts on our federal Legislative front, which T. P is involved with and secondly, what is your opinion of how it is being received.

I'll, let you start on this.

Yeah.

So.

Currently we are working with a group of school bus manufacturers to.

I'll, let you start on this.

Yeah.

Brendan Riley: Currently, we are working with a group of school bus manufacturers to really target the tariffs. It is our position that the tariffs on school buses are counterproductive. School buses are largely bought by governments, both federal and local governments, being school districts, and again, various funding mechanisms through public entities. The tariffs are essentially a tax, and they are basically taxing themselves, which is problematic. A lot of the contracts that are in place, that are these public contracts, do not permit for price increases under these circumstances. The costs are going up fairly dramatically for a lot of the school bus manufacturers leveraging a lot of the components, items that we buy that are heavily tariffed.

So.

Really target the tariffs.

Currently we are working with a group of school bus manufacturers to.

And it's our position that the tariffs on school buses are counterproductive school buses are largely bought by governments and both federal and local governments.

Really target the tariffs.

And it's our position that the tariffs on school buses are counterproductive school buses are largely bought by governments and both federal and local governments.

Being school districts and again you know.

Various funding mechanisms through a public entities.

Being school districts and again you know.

And that the tariffs are essentially attacks and.

Various funding mechanisms through public entities.

They're basically taxing themselves.

Which is problematic.

And that the tariffs are essentially attacks and.

A lot of the contracts are in place that are these public contracts don't permit.

They're basically taxing themselves.

Sure.

Which is problematic.

Price increases under these circumstances and the costs are going up fairly dramatically and for.

A lot of the contracts are in place that are these public contracts don't permit.

Sure.

Price increases under these circumstances and and.

For a lot of the school bus manufacturers leveraging.

The costs are going up fairly dramatically and for a lot of the school bus manufacturers leveraging.

A lot of the components items that we buy that are heavily tariff so.

Our position is go to the.

A lot of the components items that we buy that are heavily tariff so.

The legislature and anyone else will lessen and.

Brendan Riley: Our position is to go to the legislature and anyone else who will listen, tell them that they should not be taxing themselves, or their cousins in local government, and that this is just doing damage, which these tariffs have been doing damage. The honest answer is it has not been received well. We have not gotten a lot of traction. We have had audiences, but we do not know that there is going to be any minds changed about tariffs regarding school buses. That is where we sit right now.

Our position is go to the.

Tell them that they shouldn't be taxing themselves.

Or their cousins and and local government and that are this is just doing damage.

The legislature and anyone else will lessen and tell them that they shouldn't be taxing themselves.

These tariffs have been doing damage so.

Or their cousins and and local government and that are this is just doing damage.

The honest answer is it's not been received well we've not gotten a lot of traction we have had audiences but.

Which these tariffs had been doing damage so.

We don't know that there's going to be any mines changed about tariffs.

The honest answer is it's not been received well we've not gotten a lot of traction we have had audiences but.

Regarding school buses.

And that's where we sit right now.

We don't know that there's going to be any mines changed about tariffs.

And.

If you wanted to know my then this is just Brendan Riley's humble.

Regarding school buses.

And that's where we sit right now.

And perspective.

Brendan Riley: If you want to know my, and this is just Brendan Riley's humble perspective, I think that the tariffs are going to really start doing some damage to the economy. We are going to start seeing these numbers, and I believe this administration is going to quickly and quietly shut the tariffs down to maybe 10% across the board or something of that nature. Things will settle down.

And.

But I think that the tariffs are going to really start doing some damage to the economy, we're going to start seeing these numbers and I believe this administration is going to quickly and quietly shut the tariffs down to maybe 10% across the border or something of that nature.

If you want to know my then this is just Brendan Riley's humble.

And perspective.

And and things will settle down.

I'd add two things one that.

<unk> to maybe 10% across the board or something of that nature.

The.

Normally you could go and push for this kind of.

And things will settle down.

Fraser Atkinson: I would add two things. One, normally you could go and push forward this kind of, you know, lobbying effort, if you will, with the federal government on the basis that school districts shouldn't be taxed. In this case, the current administration has no appetite to hear that tariffs equate to taxes. We tried that. It went over like a lead balloon. When I say "we," I should give credit to a gentleman who is not on this call, that is part of our core team, Mark. Mark was instrumental in getting the New Mexico pilot project moving forward and working with the state. He has done a great job on that front. Mark is also front and center on our lobbying efforts and spends time in Washington, D.C.

I'd add two things one that.

Joe.

The.

Lobbying effort if you will.

Normally you could go and push for this kind of.

With the federal government on the basis that <unk>.

School district shouldn't be taxed.

Joe.

But in this case the current administration has no appetite to.

Lobbying effort if you will.

With the federal government on the basis that school.

To hear that tariffs equate to taxes.

The school district shouldn't be taxed.

We tried that on it it went over like a lead balloon.

But in this case the current administration has no appetite.

And when I say, the we I should give credit to you know a gentleman who's not on this call. This part of our core team is <unk>.

To hear that tariffs equate to taxes.

We tried that on it it went over like a lead balloon.

Mark.

And Mark was instrumental in.

And when I say, the we I should give credit to a gentleman who's not on this call. This part of our core team is.

Getting the new Mexico.

Pilot project moving forward and working with the state and done a great job on that front. Mark has also been hill front and center on our lobbying efforts and spend time in Washington D C with organizing organizations like Zeta or Zeta.

Mark and Mark was instrumental in.

Hello, getting the new Mexico.

Pilot project moving forward and working with the state and done a great job on that front, Mark also being Hill front and center on our lobbying efforts and spend time in Washington D. C with organizer organizations like Zeta or is that at all.

Zero emission Transportation Association, which is lobbying on behalf of.

Fraser Atkinson: with organizations like ZETA, Zero Emission Transportation Association, which is lobbying on behalf of dozens and dozens of OEMs, as well as a working group that is working with some of the senators on, "Okay, how do we restructure federal money and just not make it, just not waste what is being done today?" It would certainly need to be rebranded in order to accomplish that. That is bearing some fruit. It is not all lost, but on the tariff front, as Brendan Riley says, this has not been something that we see any changes in the immediate future. Our current, the changes that we have made and the rebuild that we are largely through is on the basis of what we have to deal with today, not a hope or a wish that it changes at some point in the future.

Joe dozens and dozens of Oems as well as a working group that is working with some of the senators on okay. How do we restructure federal money just not make it just not waste what's being done today.

Zero emission Transportation Association, which is lobbying on behalf of.

Dozens and dozens of Oems.

As well as a working group that is working with some of the senators on okay. How do we restructure federal money just not make it just not waste what's been done to date.

And so it would certainly be need to be rebranded in order to accomplish that but so that is bearing some fruit trust not all lost but on the tariff front as Brent and SaaS. Joe This has not been something that we see.

And so it would certainly be need to be rebranded in order to accomplish that but so that is bearing some fruit trust not all lost but on the tariff front as Brent and SaaS.

See any any changes in the immediate future and our current the changes that we've made and the rebuild that we're largely through is on the basis of what we have to deal with today, not a hope or a wish that it changes at some point in the future.

This has not been something that we see.

And then the second thing related to this is that we have.

<unk>.

On the E. P. A front, we've always had a very careful or cautious approach.

Fraser Atkinson: The second thing related to this is that on the EPA front, we have always had a very careful or cautious approach so we do not get too much exposure to the one form of funding, given that the feds do not have the same kind of mandates that the states do. What both Brendan and I talked about earlier in the presentation in terms of the extent of funding in New York and California, and in particular New York right now, we do not see that at the federal level. What we are trying to do at a legislative that Mark is leading the charge is, "How do we get that buy-in?

And then the second thing related to this is that.

So we don't get a heavily.

Yeah we've.

On the E P a.

Til tumor tumor too much exposure to the one form of funding given that the feds don't have the same kind of mandates at this stage too.

We've always thought about it.

Careful or cautious approach so we don't get a heavily.

Uh huh.

Too much exposure to the one form of funding given that the feds don't have the same kind of mandates at this stage too.

So while both Brendan and I talked about earlier in the presentation in terms of the.

Extend to funding in New York, and California, and in particular, New York right now, we don't see that at the federal level. So what we're trying to do with the legislative that mark sort of leading the charge is how do we get that buy and how do we get the.

So while both Brennan I talked about earlier in the presentation in terms of the.

Extent of funding in New York, and California, and in particular, New York right now, we don't see that at the federal level. So what we're trying to do at a legislative that mark sort of leading the charge is how do we get that buy and how do we get the.

The federal government supporting.

And adoption strategy.

Fraser Atkinson: How do we get the federal government supporting an adoption strategy?" We think that is having some success, and we do see or expect to see some positive announcements, probably not in the immediate future, but later this year, early next year. Next question: What do you see as your major advantages and conversely obstacles in the next five years? Generally, how is the product being received? Brendan Riley and I sort of break things down as 30, 60, 90, and 180 days. Five years would be an absolute luxury. But within the timeframe that I am talking about, which we do have to plan and do our best to say, okay, where are we going to be a year or two years out? Where we are with our product set, there are a few specifics that we would like to see, but the school buses are there.

So we think that that is having some success and we do see or expect to see some.

The federal government supporting.

And adoption strategy.

So we think that that is having some success and we do see or expect to see some oh.

Positive announcements.

Probably not in the immediate future, but over later this year early next year.

All positive announcements.

Next questions what do you see as your major advantages and Conversely obstacles in the next five years and generally how is the product being received.

Probably not in the immediate future, but over later this year early next year.

Next questions what do you see as your major advantages and Conversely obstacles in the next five years and generally how is the product being received.

Well, I think Brendan and I sort of break things down as 30, 60, 90, and 180 days. So five years is that would be an absolute luxury.

But within the timeframe that I'm talking about which we you do have to plan and do your best to say, Okay, where are we going to be a year or two years out.

Where we are with our product set there is a few specifics that we'd like to see.

But within the timeframe that I'm talking about which we you do have to plan and do your best to say, Okay, where are we going to be a year or two years out.

But the school buses are there.

They represent the.

Where we are with our product set there is a few specifics that we'd like to see.

The best of breed type a school bus, we Didnt mentioned in our presentation.

But the school buses are there.

Fraser Atkinson: They represent the best of breed. The Type A school bus, we did not mention in our presentation, the year it came out, STN awarded, gave it its best new technology of the year award. It is one of the vehicles that Brendan Riley and I love to drive. It is so easy to drive. It is very different than any of the competition or even of the traditional ICE Type A school buses. It really is what you would expect for an electric vehicle, that it is a step forward in terms of the technology. So we have the product set. We have got a market that is developed. In our case, we, instead of trying to do too many things in too many markets, the approach we have taken is to narrow it down to the ones where the demand and the funding are available.

The year it came out S. T N Award you all gave at its.

They represent.

The best of breed type a school bus we Didnt mentioned in our presentation. The Europe came out S. T. N Award gave it its our best New technology of the year Award.

Best New technology of the year Award Joe It is.

One of the vehicles that Brendan and I love to drive it so easy to drive very different than any of the competition or even the traditional ice type a school buses.

It is.

One of the vehicles that Brennan I'd love to drive it so easy to drive very different than any of the competition or even the traditional ice type based school buses.

It really is what you would expect for an electric vehicle that it's a step forward in terms of the technology.

So we have the products that we've got a market that's developed and in our case we.

Really is what you would expect for an electric vehicle that it's a step forward in terms of the technology.

Be well.

So we have the products that we've got a market that's developed and in our case we.

Instead of trying to do too many things in too many markets.

[noise] approach, we've taken is to narrow it down.

To the ones that where the demand and the funding is available and from that we see the opportunity to get to a positive cash flow and then.

Instead of trying to do too many things in too many markets. Yes. The approach we've taken is to narrow it down to.

The ones that where the demand and the funding is available and from that we see the opportunity to.

Build out are you know further build the company.

Fraser Atkinson: From that, we see the opportunity to get to a positive cash flow and then build out or further build the company on those building blocks, if I can explain it that way. Our timeframe is more in the magnitude of quarterly and up to the next 18 to 24 months. If we did talk about where this industry could be five years from now, you are getting into what changes might occur in battery technology. Brendan Riley, more so than myself, keeps tabs on what is happening in the market. There are a lot of exciting developments. Nothing that is going to hit in the next few quarters or nothing that we would want to incorporate because we had to focus on delivering the orders we have in hand, not building the next best school bus.

Those building blocks, if I can explain it that way sorry.

You'll get to a positive cash flow and then bill.

So our time frame.

Build out are you know further build the company on those building blocks, if I can explain it that way.

Is more in the magnitude of your quarterly and up to the next.

18 to 24 months.

So our timeframe.

Is more in the magnitude of your quarterly and up to the next.

And if we did talk about where this industry could be five years from now youre getting into well what changes might occur in battery technology.

18 to 24 months.

And if we did talk about where this industry could be five years from now you're getting into well what changes might occur in battery technology Brendan.

Brennan more sold and myself keep tabs on what's happening in the market a lot of exciting developments nothing that's going to hit in the next few quarters.

Brennan Morris hold of myself, you know it keeps tabs on what's happening in the market a lot of exciting developments nothing that's going to hit in the next few quarters.

But nothing that we'd want to incorporate because we had a focus on delivery.

Delivering the orders we have in hand not building.

Building the next.

Nothing that we'd want to incorporate because we had a focus on delivering.

Next best School bus, but there are a lot of <unk>.

Potential developments that could really further help accelerate demand in our industry.

Delivering the orders we have in hand.

Building the next.

Next best School Bosch, but there are a lot of potential developments that could really further help.

Fraser Atkinson: But there are a lot of potential developments that could really further help accelerate demand in our industry.

Yes.

What I would add to what Frazier said I, absolutely aligned with all of our statements.

Accelerate demand in our industry.

Brendan Riley: Yeah. What I would add to what Fraser Atkinson said, I am absolutely aligned with all of his statements. One that he didn't specify on is commercial goods movement. Those mandates have been incredibly relaxed, if not disappeared, and that's going to really soften that market for those vehicles. Hopefully, it will give the folks that can install the infrastructure some time to start putting in chargers and really start developing our infrastructure network, which is critical for deployment and where we will be five years, six years from now. What I am really looking at right now is the manganese-rich chemistries or basically iron phosphate with a manganese-rich component to that chemistry, should decrease the price, increase the energy and power density by 50%. So really compelling technology.

One that he didn't specify on his commercial goods movement. Those mandates have been incredibly relax if not disappear and that's going to really soften that market for those vehicles.

Yes.

What I would add to what Frazier said I.

And absolutely aligned with all of us.

One of them.

Yes.

Commercial.

Hopefully it'll give the.

Right.

It had been incredibly relaxed if not disappear and that's going to really soften that market for those vehicles.

Folks that that can install the infrastructure some time to start putting in Chargers.

And really start developing our infrastructure network, which is critical for deployment and where we will be five years six years from now.

Well it'll give the.

Folks that that can install the infrastructure some time to start putting in Chargers.

And really start developing our infrastructure network, which is critical for deployment and what are we will be five years six years from now.

And what I'm really looking at right now is the manganese rich.

Chemistries or.

Basically iron phosphate with our manganese rich component to that chemistry.

And what I'm really looking at right now is the manganese rich.

Chemistries or.

Should decrease the price increase the energy and power density.

Basically iron phosphate with our manganese rich component to that chemistry.

By 50%.

So it really compelling technology and once that's manufacturer will and hits the market validated we could see a strong.

Should decrease the price increase the energy and power density.

By 50%.

So it really compelling technology and once that's manufacturer will and hits the market validated we could see a strong.

Brendan Riley: Once that is manufacturable and hits the market, validated, we could see a strong rebound because the compelling nature of the vehicles are just going to get greater and greater, lower cost, better range, better capacity, payload, all that. The advent of semi-solid, solid-state batteries are going to be pretty impressive. We do not see or expect those for the foreseeable future. So we are just keeping our eyes out, looking for those. Those will be game changers.

Rebound because of the compelling nature of the vehicles are just going to get greater and greater lower cost better range better capacity payload all of that and then the advent of semi solid solid state batteries aren't going to be pretty impressive, but we don't see or expect those for the foreseeable future.

Rebound because of the compelling nature of the vehicles are just going to get greater and greater lower cost better range better capacity payload all of that and then the advent of semi solid solid state batteries are going to be pretty aggressive, but we don't see or expect those for the foreseeable future. So.

<unk>.

We're just keeping our eyes out looking for those those will be game changers.

Okay.

Let's see where where we've run over over time here.

And so and there is still a few questions that we had to calls so apologies that we're not able to cover all of those but.

Right.

Fraser Atkinson: You can see where we've run over time here. If so, there are still a few questions that we had to close. Apologies, we are not able to cover all of those. The press release that went out this morning, Brendan Riley and my numbers are on there. Likewise, we are pretty easy to track down. Feel free to either email or call us if you have any follow-up, as we would be happy to go through each and every one of your questions. We appreciate the support of our stakeholders and look forward to giving you, you know, or you will watch the developments over the next few months as we move out of, you know, this pause that we were, this pause that we were in, as a result of the initial round of announcements on tariffs and as we build up our business.

Let's see where where we've run over over time here.

The press release that went out this morning, Brennan and my numbers are on their and our and Black box, we're pretty easy to track down feel free to either email or call us. If you have any follow up as we'd be happy to go through each and every one of your questions.

And so and there's still a few questions that we had to call. So apologies that we're not able to cover all of those but.

The press release that went out this morning, Brennan and my numbers are on their and our.

And likewise, we're pretty easy to track down feel free to either email or call us. If you have any follow up as we'd be happy to go through each and every one of your questions.

But we appreciate the support of our stakeholders.

And.

Look forward to giving you your or.

But we appreciate the support of our stakeholders.

Watch the developments over the next few months.

As we move out of.

And.

Look forward to giving you your or.

This.

This pause that we were this this pause that we're in as a result of the initial round of announcements on tariffs and as we build up our business.

Watch the developments over the next few months.

As we move out of.

This.

This pause that we were this this pause that we're in as a result of the initial round of announcements on tariffs and as we build up our business.

Thank you very much Frazer and Brendan and just a few more notes here for more information on Green Power Motor Company. You can of course also reach us at one 800 Red Chip, one 800, red chip or email us at G. P at Red Chip Dot com.

Craig Irwin: Thank you very much, Fraser and Brendan. Just a few more notes here. For more information on GreenPower Motor Company, you can, of course, also reach us at 1-800-REDCHIP, 1-800-REDCHIP, or email us at gp@redchip.com. Please visit the information page created by Red Chip for GreenPower. It is greenpowermotorinfo.com. There, you can view and download the investor presentation used today and the fact sheet and sign up for news alerts on GreenPower. Watch Small Stocks, Big Money, Red Chip's program featuring exciting small-cap companies every Saturday night at 7:00 P.M. Eastern on Bloomberg USA. Finally, join Red Chip's next webinar with Connect Biopharma Holdings tomorrow at 4:15 P.M. U.S. Eastern. Register for all Red Chip webinars at redchip.com/events. Thanks again to our many participants today. Thank you, Fraser and Brendan.

Please visit the information page created by Red Chip for Green power.

<unk> Green power motor Info Dot com, there you can view and download the investor presentation used today, and the fact sheet and sign up for news alerts on Green power.

Please visit the information page created by Red Chip for Green power.

<unk> Green power motor Info Dot com, there you can view and download the investor presentation used today, and the fact sheet and sign up for news alerts on Green power.

Watch small stocks big money Red chips program, featuring exciting small cap companies every Saturday night at seven P. M. Eastern on Bloomberg USA, and finally joined Red chips next webinar with connect Biopharma Holdings Tomorrow at 415 P. M U S. Eastern Register for all Red Chip Webinars.

At redshift Dot com slash events.

Thanks, again to our many participants today and thank you Fraser and Brendan.

At Red Chip Dot com slash events.

Thanks, again to our many participants today and thank you Fraser and Brendan.

I'm.

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