GreenPower Motor Company Inc. has entered into a revolving loan agreement with Export Development Canada ("EDC") for up to $5 million (the "Facility") to fund all-electric vehicle production pursuant to customer orders. The Facility expands EDC's support to GreenPower beyond its existing letter of credit guarantee. The Facility provides additional liquidity to GreenPower to fund all- electric vehicle production for approved customer orders, allowing for multiple advances over a two-year period with repayments when vehicles are delivered.

The revolving nature of the Facility provides the flexibility to fund multiple orders and offers incremental capital in addition to GreenPower's existing $8 million operating line of credit and the guarantee of up to $5 million of standby letters of credit provided by EDC. GreenPower manufactures a suite of all-electric, purpose-built, zero-emission vehicles that serves the cargo and delivery market, shuttle and transit space and school bus sector.