GreenPower Motor Company Investor Webinar: August 21, 2024

Company Overview
GreenPower Motor Company is advancing the adoption of electric
vehicles (EVs) by making all-electric buses and trucks affordable,
durable and easy to deploy. GreenPower offers commercial vehicles
for the movement of goods and people that are built from the ground
up to be all-electric and are never converted. This “clean sheet”
design ensures a safe, sustainable and sensible form of
transportation, allowing for optimal placement of the battery and
propulsion systems, increasing the overall vehicle strength and
significantly enhancing the battery weight distribution compared to
other EVs. With more than 700 GreenPower all-electric, purposebuilt, zero-emission vehicles delivered, a substantial order pipeline
and key partnerships across various sectors, GreenPower is poised
for continued growth and market expansion.
Investment Highlights
Attractive market position with established track record of sales
growth:
o Premier manufacturer and distributor of purpose-built, allelectric, zero-emission medium and heavy-duty vehicles serving
the cargo and delivery market, shuttle and transit space and
school bus sector.
o Strong sales track record with more than 700 EV Stars, low-floor
transit buses, and school buses delivered.
o Significant order book, fully serviceable with current production
capacity at California and West Virginia facilities and contract
manufacturing.
Favorable market dynamic:
o Attractive financial incentives and regulatory mandates
accelerating EV adoption; financial and regulatory drivers lower
total cost of ownership and establish a robust growth framework.
o Corporate commitments to fleet electrification bolster demand
for zero-emission vehicles.
Strong financial performance and competitive positioning:
o Trades well below 1x trailing 12-month sales, offering a
compelling valuation compared to peers; Workhorse and Nikola
trade at 5x-15x sales.
o Unique within its peer group for reporting positive gross profit,
contrasting with gross losses reported by competitors Workhorse,
Nikola and Lion Electric.
Accomplished leadership team:
o Co-founder, CEO and Chairman Fraser Atkinson brings more than
14 years of experience at KPMG, LLP and significant public
company leadership.
o President and Director Brendan Riley was among the first North
America employees at BYD Motors, contributing to commercial EV
product launches and manufacturing facility acquisitions.
Value Proposition
GreenPower Motor is a leading all-electric OEM
specializing in zero-emission medium and heavyduty vehicles for various markets, including
cargo, transit, and school buses. The company
has a proven sales growth record, delivering over
700 EV Stars, low-floor transit buses, and school
buses, and maintains a significant order book
supported by its manufacturing facilities in
California and West Virginia.
GreenPower benefits from financial incentives
and regulatory mandates accelerating EV
adoption. Programs like the EPA’s Clean School
Bus Program, California HVIP vouchers, and the
Inflation Reduction Act tax credits, along with
state and federal initiatives, enhance the
attractiveness of GreenPower’s products.
Regulatory mandates in states like California and
New York, alongside corporate fleet
electrification commitments, drive demand for
GreenPower’s vehicles. These factors reduce
ownership costs for customers and create a
strong growth framework for the company.
The management team, led by CEO Fraser
Atkinson and President Brendan Riley, brings
extensive industry expertise and strategic vision.
Atkinson, a former KPMG partner, has held
leadership roles in public companies, while Riley,
a former VP at BYD Motors, has significant
experience launching commercial EV products
and setting up manufacturing facilities.
GreenPower trades well below 1x its trailing 12-
month sales, compared to 5x-15x for competitors
Workhorse and Nikola. It is the only company in
its peer group with positive gross profit, while its
competitors incur gross profit losses.
GreenPower’s strong competitive position, sales
growth, experienced leadership, and favorable
market conditions highlight its potential for
sustained growth and value creation in the EV
industry.